Bare Bones Living!

Just In Case

Tue, 30 Sep 2008 14:25:48 GMT

Seems there's confusion in J-Land about Journals. My understanding is that Hometown is going away not the Journals. However, just in case I am wrong I already have a backup journal on Blogger. PLEASE save this so we can stay in touch.

http://makingofahome.blogspot.com/ I also have a backup Blog for Bare Bones as well. http://barebonesliving.wordpress.com

I don't think Journals are going away but I could be wrong.

Make sure you get my email address and you send me yours if you want to stay in touch.

If you post to Kitchen Chatter or the Hippie Farm don't worry. Send me your info and after the dust settles we can start new ones on Blogger.

Keep my info handy and bookmark or subscribe to my Blogger blog.

Hopefully I am right and Journals are going to stay

UPDATE: Well, it's true. Journals are going away. Please let me know where you will be and grab my link. I want to stay in touch with everyone!

Are You Insured?

Wed, 24 Sep 2008 09:47:16 GMT

I could go on about the bail out but I won't. Well, OK, I will say this "IT SUCKS" I should not be paying for someone else's greed. Change the accounting practices. When they started wrapping sub-prime mortgages in with the good ones and selling them all like a pretty bond package someone should have cut their hands off.

Click here to see what Dave Ramsey has to say. You can listen to him or read the transcript

I do not want to pay for a bail out.

OK with that said, here's a way to make sure your money is insured. I've had friends ask about this so I thought it was worth posting.

Click on the image to get started.

Tanked

Tue, 16 Sep 2008 11:21:16 GMT

I honestly don't know what to think. I really don't know what to do. For now, here's how I feel about my investments. They are small but they are important to me.

photo credit: WikiMedia

FDIC's Depositor's Bill of Rights

Fri, 25 Jul 2008 11:08:20 GMT

Thought you might be interested in this.

Press Release

FDIC Chairman Sheila C. Bair Reiterates Promise of Deposit Insurance
Issues Depositor's Bill of Rights

FOR IMMEDIATE RELEASE
July 24, 2008

Media Contact:
Andrew Gray (202) 898-7192,
Cell: 202-494-1049
angray@fdic.gov

In an op-ed published today by Reuters.com, FDIC Chairman Sheila C. Bair reiterated the rights of insured depositors.

FDIC Chairman Bair said, "As Chairman, I believe that the FDIC has a promise to keep to our nation's bank customers. A promise spelled out in the following Depositor Bill of Rights:

FDIC's Depositor's Bill of Rights

1. You have the right to automatic deposit insurance coverage when you open a deposit account at an FDIC-insured bank, with no additional cost or action on your part.

2. You have the right to separate FDIC insurance coverage for deposits held at different FDIC-insured banks.

3. You have the right to confirm that a bank is insured by using the FDIC's Bank Find service (www2.fdic.gov/IDASP/main_bankfind.asp) or by calling the FDIC toll-free at 1-877-275-3342.

4. You have the right to deposit insurance coverage of $100,000 for your deposits at an FDIC-insured bank – up to $250,000 for your IRA deposits.

5. You have the right to deposit insurance coverage of more than $100,000 at a single bank when deposits are held in different "ownership categories," such as a single, joint and trust accounts.

6. You have the right to confirm that your deposits are within the insurance limits by using the FDIC's Electronic Deposit Insurance Estimator and other online resources at www.fdic.gov/deposit/deposits or by calling the FDIC at 1-877-275-3342.

7. You have the right to be informed when a financial product offered by your bank is not covered by FDIC insurance.

8. You have a right, if your bank fails, to prompt access to your insured deposits.

9. You have the right, if you are an uninsured depositor, to receive distributions from the receivership as the sale of assets permits.

10. You have the right to sleep well, knowing that since the creation of the FDIC 75 years ago, no depositor has ever lost one penny of insured deposits.

"The banking system in this country remains on a solid footing through the guarantees provided by FDIC insurance. The overwhelming majority of banks in this country are safe and sound and the chances that your own bank could fail are remote. However, if that does happen, the FDIC will be there – as always – to protect your insured deposits."

###

Congress created the Federal Deposit Insurance Corporation in 1933 to restore public confidence in the nation's banking system. The FDIC insures deposits at the nation's 8,494 banks and savings associations and it promotes the safety and soundness of these institutions by identifying, monitoring and addressing risks to which they are exposed. The FDIC receives no federal tax dollars – insured financial institutions fund its operations.

FDIC press releases and other information are available on the Internet at www.fdic.gov, by subscription electronically (go to www.fdic.gov/about/subscriptions/index.html) and may also be obtained through the FDIC's Public Information Center (877-275-3342 or 703-562-2200). PR-62-2008

Just Couldn't Take It

Sun, 13 Jul 2008 12:18:03 GMT

All this time I’ve been good and I haven’t touched a thing in my 401k or my Roth IRA. But I finally caved.

I moved half of my Roth IRA to the Total Bond Market Vanguard Fund. Call me a wuss, but I just couldn’t take it any more.

Was it the best move? I don’t know but do know I feel a bit better after doing this.

I don’t have much saved for retirement and I just couldn’t bear to watch it continue to drop. I am just trying to stop the slow bleed.

Murphy Paid A Visit

Sun, 06 Jul 2008 13:14:06 GMT

Well, Murphy popped his head into my house yesterday. My A/C’s drip pan was FULL of water and the floater sensor did not work and did not shut the unit off.

I was going to wait until Monday but when the temps are over 90 that’s really not an option. So, I contacted the company, Shumate Mechanical, and set up the appointment. I had used them before and they have a good rating on Angie’s List.

Within 2 hours the technician arrived. He worked and worked and worked. About 3 hours later it was done. Here’s the bill. $224 is for an annual maintenance contract and he never charged me for replacing the P Trap (incorrectly installed with original installation).

Murphy only stayed for a minute. I have an emergency fund and I wrote a check for the bill. I will replenish the emergency fund this month. It will only slow me down by $440 in my debt snowball. It’s OK and I did NOT use a credit card!

Whoo Hoo and thank goodness for Emergency Funds.

Credit Scores Looking Good

Sun, 22 Jun 2008 13:11:32 GMT

You know how you can get your credit report free each year, but they charge you to get your score. Here's what I do to get my scores for free. Once a year I call Countrywide to find out my refinancing options. They always have to run your credit. I tell them they can run it if they tell me my scores. So, that's what I did, yesterday. No, I'm not going to refinance. Not enough incentive to do so.

But, I did get my scores. Here's where I'm at as of yesterday.

Transunion: 786
Equifax: 813
Experian: 824

Here's what my scores were when did my HELOC refinance to a fixed 2nd mortgage in May 2007

Transunion: 725
Equifax: 723
Experian: 742

So, in a little bit over a year and getting rid of all credit card debt that a nice improvement. They were never terrible but the jump is nice. I still have my credit cards, for now. I haven't closed any because I don't want to take the negative hit on my credit. But, once I move and get settled I'll probably close the accounts.

Oh, I just made my first gigantic payment on my student loan. 9 more payments on that and I'll be debt free except for the house.

One Year Update

Sun, 20 Apr 2008 09:17:27 GMT

I started my debt reduction plan May 2007. Well, I have finished paying the bills for April so all my finances are complete. That makes it one year since I’ve started this journey. How am I doing? I think I’m doing OK. I wish I could go faster but I’m doing just fine.

Here’s my debt snowball snapshot! I almost paid off $25,000.00 in one year! I can’t wait until all of my debt is gone!

Depending on the real estate market will determine if I keep my Fixed 2nd mortgage in the snow ball. If, by next July things are better I will sell and not worry about the 2nd mortgage. Woo Hoo just a little bit over a year and it’s DONE!

March Status

Sun, 16 Mar 2008 10:49:59 GMT

Here it is! I love the progress but sometimes I get antsy and want to move even faster. But, thank goodness I am able to move as quickly as I am.

This is great progress considering I had to keep $950 aside for driveway repairs next month. So, considering that I think I'm doing just fine.

February Status

Sun, 17 Feb 2008 14:28:28 GMT

Well here it is. I've finished paying all bills for February and this is how it looks. Yes you see it right! 2 credit cards have bitten the dust. I love it and in 4.5 months the next one will be gone and then it's on to the student loans. After that, I am basically free and will be selling my house. That's why I've crossed out the second loan on the snowball. As it stands right now I'll be done in May 2009. Hopefully, the housing market will be picking back up.

As you can see I have just about paid out $20,000 in 10 months. I love it!

I got my income tax refund (fed and state). For now I've moved both of them into savings until I decide the best way to proceed. I have already maxed out my Roth IRA for 2008 so that's out of the picture. I have things I have to do but I'm tempted to throw it at debt. I have to decide what to do so for now, it's in savings.