I’ve Paid For This Twice Already…

Capital One Has Something To Say To Me

We’re raising your interest rate just because we can, and we’re annoyed you don’t owe us anything.  So there.

Well, that isn’t exactly what the letter I received said, but it might as well have.

This week I got a form letter/flyer from Capital One which informed me that they were raising my interest rate from the fixed 9.9% it was at to a variable rate that is currently 17.9%, effective immediately.  Hey, thanks Capital One!  I’ll get right on that…

We don’t have a balance on the Capital One card, and haven’t used it in several years.  It was the first thing I completed paying off in my debt-destroying extravaganza, and hasn’t carried a balance in over a year.   And to thank me, Capital One has finally gotten around to raising the interest rate.  Hey, thanks.  I appreciate it.

Many people who are anti-debt or anti-credit card debt destroy their credit cards and cancel them.  We didn’t.  It wasn’t a firm yes or no decision, it was more apathy on my part.  I didn’t really feel passionately about getting rid of them, so I just kept them.  My problem that got me into endless credit card debt wasn’t one of impulse control exactly, it was more poor money management.  I wasn’t one to pull out a credit card and buy things on impulse.  I used them as an emergency fund and then kept transferring balances back and forth while trying to pay them down until the next emergency.  Once I figured out how to track my money and know what I was really spending and started having a cash emergency fund, I didn’t increase the credit card debt and began to reverse the process.

So, I still have them.  Three, in fact.   This we’ve had for about 10 years, and I have had another one since 1996.  The last we got while we were paying down debt in 2007 to transfer our balance to a 0% rate.  So closing this one isn’t closing my longest-held credit card.  I think that means it won’t affect my credit score.  And the longest held credit card also has a $40000 limit, so if for some reason I found myself in a position where I needed to use a credit card, that one would suffice.

So Capital One, I think our days are through.  Thanks for everything… sort of.

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Tell All Tuesday: Debt Inching Down

No huge changes here this month - we’ve started more aggressively paying down our student loan and putting the new-to-us car idea as a secondary goal.  Since we have two cars, and we don’t drive that much compared to the “average” driver (less than 10000 and closer to 5000 miles per year for each car, generally), we’ve decided that even if one of them does something drastic, we’ll have options to consider before having to make a decision.  So the bigger share of our $800 snowball goes to the debt ($500) and the lesser share to the car fund.  For now.

I made the $500 payment to the student loan this week, bringing the total of that debt to $8529.00.  This brings the total amount we’ve paid off since June 2007 to $27922.71, which means we have paid off 76.6% of our original debt, illustrated on my NCN Network Chart.  I am hoping to send a little more to the student loan this month as well, but that will depend on how many hours I tutor and teach taekwondo - the economic slump cuts into those some.   Holding the emergency fund steady at $2500 is my main goal for the month and that looks like it is definitely possible, but hopefully a bit of snowflaking can happen as well.  Goal for June:  Under $8000!

In other news, we went bowling through the Kids Bowl Free program I mentioned, and at least here, it is not a scam, it was really free, all the shoe rentals were free (we bought the family pass for my spouse and I to bowl) and we had a lot of fun.  And we’re doing it again tomorrow.  After which I will share some news about Capital One I received today.  I think we have a decision to make about them, even though we don’t owe them anything.

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Stocking Up Doesn’t Always Work Out As Planned

My spouse and I received a Brita water filtration pitcher as a wedding gift many many years ago.  Our tap water is safe as far as drinking it, but has a distinctly odd taste that keeps us from drinking too much of it without the filter.  So to encourage water consumption, we filter our water for drinking.  The filters themselves are pricey, so when I can get a good deal on them (sales and coupons working together for the greater good), I tend to stock up.  Walgreens also makes a generic filter that fits in our pitcher, so when that was free after rebate for a few months, I got those too.

Last night, my spouse accidentally dropped the pitcher on the floor and broke it.   Oops.

Now, this isn’t that big a deal - the pitcher is widely available after all and we can replace it.  However, if I didn’t already have a large supply of filters in the cupboard for this particular brand of pitcher, I might look into other options for filtering our water.  Would an attachment directly for the kitchen sink be less costly?  Would another brand of water pitcher work equally well and cost less?  I don’t know yet, and I intend to find out.  But the supply of filters will have to factor into the equation as well - for even if they came at a discount, they did have cost associated with them, and if I make a different water decision, they’ll go to waste.

I try to think ahead when I stock up on sale items - how much does my family use?  How long until this product expires?  What is the likelihood of not being able to use this item?  But this one wasn’t something I’d considered.  But it brings another factor into the equation - when stocking up on an item, consider its use and if the product it is used in might not continue to be serviceable.

Hopefully after my analysis Brita comes out on top and I can just replace the pitcher we had with a clear conscience.  But, we’ll see.  Off to price out water-purifying devices!

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Kids Bowl Free - A Neat Idea For Summer Fun

If you have some self restraint in using it, that is.  But I think we’ll be trying it out this summer.

My son brought home a flyer yesterday for a program called Kids Bowl Free.  The program is a nationwide one, and it has a branch in our neighborhood.  Basically, the program is this.  You register your child (or children) and receive via email or by logging into your account, 2 free bowling games per day for each child for the entire summer.  Our local program runs from May 1st to August 31st, but dates vary depending on location.  You can use as many or as few of the coupons as you’d like (you get one coupon per child for each day good for two free games).  Shoe rentals for the kids are also free at our local center, not sure if that is at all centers or not.

Of course, the bowling centers are not completely altruistic, they are doing this to gain business.  Most parents would probably want to actually bowl with their child versus just watch them bowl.  The program does cater to this as well - you can purchase a family pass good for up to four adults of your choosing to bowl with your children for $23.95 for the entire summer.  Now, if you’re only going to go once or twice, this is not at all a good deal, but if you plan to make a weekly (or more) event out of it, this is a great discount.

I am sure that the participating centers have snacks and such they hope you buy, and that you love bowling there so much you keep bowling after the program is over.  It is a great marketing ploy.  But it also, to me, sounds like a really fun program!  We love to bowl, and I even have my own ball and shoes so I wouldn’t have to rent shoes (I am not sure if the shoe rental for adults is free with the family pass or not).  Times of participation vary per center so you’ll have to call and find out.   I grew up bowling every week with my parents, so this sounds like a fun way to keep that tradition alive.

I am not in any way affiliated with this program, I just got a flyer about it from my son’s school and wanted to share it with my readers.  If you’ve done the program before, share your experiences!  I would love to hear how well (or not well) it worked for you!

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Is There A Vacation In Store For You This Summer

Part of how we’ve paid down a lot of our debt over the past few years is foregoing the expected, or altering it to fit our financial plans.  One of those things are vacations.  We’ve chosen as a family to either not take a vacation, or to alter it so that it costs us a minimum (like combining a vacation with my spouse’s business trip).  Springtime here is the height of the vacation planning season, and as I look at our summer options for a little get-away-from-it-all, I wonder - is the average person taking a vacation this year?

Vacations might be one of the first things to sacrifice in the wake of a bad economy and uncertain economic times, but a little recharge time is important for anyone, and it doesn’t have to break the bank.  If you’d like to have a little getaway but don’t think it is in the budget this year, consider a few alternatives that may not have occurred to you when the idea of a vacation first appeared.

Vacation at home

An oft overlooked alternative to going on a pricey trip is to stay home and vacation there.  The problem with this is without planning, it can feel like it isn’t a vacation at all.  Make sure you put the same amount of planning into a home vacation as you do an away one, and you can have a lot of fun and relaxation right in your own backyard - literally.

Consider a day trip or an overnight versus a week

If a trip is what you’re after, consider a small or short trip versus the traditional week.  A closer location to your home to save on travel costs, and less time away to save on lodging.  A short trip can recharge the batteries as long as it is well planned and isn’t too jam-packed.

Trade with (or visit) a friend

You may be able to save on lodging costs almost completely by planning a vacation trade with a friend.  Do you live in an interesting place?  Or at least, an interesting place to those that don;t live there?  Maybe you have a friend who lives somewhere else interesting and you can vacation with them or trade homes for a vacation for both of you.

Camping beats a hotel - at least, in my opinion

Camping in a state park is a whole lot less expensive than a hotel.  If you have a tent and a sleeping bag - a camping vacation can’t be beat!  At least… to me and my son.  My spouse isn’t really all that into the camping thing, but he does love cheap. 

Combine business and pleasure

We’ve been able, due to my spouse’s work trips, to combine a business trip or two of his with a vacation for our family.  This might not be possible for you, but it is an idea to consider if you or your partner take trips for business.  All that the powers that be can say if you ask is no, after all.  And they might say yes!

This year, we’re determined to build in some fun family time but at a level that won’t interrupt or affect our financial plans.  This summer we’re looking at planning a small weekend trip to a state park for tent camping, which since we already own all the required equipment, will cost us a minimum.  And this fall, my spouse has another business trip we may be able to tag along on as a family to minimize our expenses.  What is your plan?

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