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Hidden Savings

June 30th, 2011 at 09:41 am

This week, I have been seeking advice from the community, pertaining mainly to our current budget. It has most definitely helped!

Here is the topic: http://bit.ly/lUTyBW

First, it started with some reality checks. My wife is a SAHM, and she loves it. However, we may need to have her help pick up some slack. We don't have many options for child care, so she may have to do something on the weekends. However, what is more likely, is that I will be using my Certificate in Massage Therapy to work in neighbouring towns that do not require a massage license. I will be working toward that license so that I may get a better position here in Boise.

Next up, was addressing my high interest credit card. I recently paid off a Best Buy card and have one card left; my Master Card Platinum. While this card is pretty customer friendly (no annual fees), it's pretty high interest (24.24%). One user suggested looking for a lower interest card and transferring the balance. My CU, Idaho Central Credit Union, is awesome. They have great credit cards. So I applied.

Having been in contact with the store manager at the downtown branch where I frequent, I soon found out that they could save us money on our car payment as well! Long story short, I did not qualify for the credit card, but did qualify for a $4,300 loan (covering the current auto loan AND my MC cc) at 4.99%!

We go in on Friday to sign on the dotted line. Smile

It's great to find out that savings are out there just waiting for you!

8 Responses to “Hidden Savings”

  1. creditcardfree Says:

    Welcome to the blogs!

    That is great news on your new loan. Consolidating debt at lower interest rates, is a great first move to becoming debt free!

  2. scottish girl Says:

    Welcome to the blogs!

  3. uRabbit Says:

    It sure feels good!

    I will be updating the blog's interface this evening. Also, I will be making more blog posts as often as possible/necessary.

    Thank you for reading!

  4. Joan.of.the.Arch Says:

    Thank goodness you were able to ratchet down from that 24.24% interest. That will help you get it paid off....Massage therapy sounds like a great way to earn part time.

  5. uRabbit Says:

    My goal is to do massage full time. It is my dream job and it would completely make me happy. Smile

  6. Jerry Says:

    My brother worked for several years FT as an LMT, and he did all right. He is now in chiropractic college, but he still does LMT work to lead to some income while he is in school. If you are creative and willing to work hard, there is certainly a market to offer some insurance of employment. Hang in there!
    Jerry

  7. uRabbit Says:

    Thank you, Jerry! I have definitely researched the market and 'playing field' and where I am right now is not the best place for doing massage. However, it is a decent starting point. When the wife and I are ready to move to Portland, I believe the city there will provide a better base of clients.

  8. Mozaik Says:

    Good on you for getting out from under a 24% interest rate. I must be naive, I thought that's what they charged at those instant money lenders nightmares.

    The most important process in managing expenses is to make up a menu plan based on loss leaders and seasonal produce from nearby supermarkets and ethnic grocers. It was a bit of effort initially but I now have weeks of menus ready to highlight. It's not written in stone so if we prefer to have home made [slo cooker] soup on a cool, rainy day, it's as easily done as a protein supported salad when it's hot.

    The menu means I never wonder 'what will we have for dinner!' I know I have all the ingredients at hand and needn't dash off to the store for unplanned purchases. It allows me to portion correctly so that there is enough to take for lunch the following day...without effort. We avoid the incredibly expensive take-out mostly because it is full of unhealthy, unpronounceable, chemicals and preservatives whose long term side affects remain problematic.

    Lately we've been experimenting with lentils and grains with mixed results but it's been fun to try something different.

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