Things I Have Learned

The other night at bowling, the discussion turned to money and finances.  Princess and another gal were talking about budgets and debt repayment.  I told them to use the “trickle up” method.

This is something that radio talk show host, Dave Ramsey, talks about frequently and it really does work if you follow the plan correctly.  

The ladies wanted more detail, so I explained that you have to first establish a budget, and then write down all your balances and what the payments are on them.  The first step is to target the smallest balance and get it paid off, while maintaining the monthly payments on the others.  

Once that smallest balance is paid off, you then take whatever you were paying monthly on that balance and apply it to the next smallest balance in addition to the regular monthly payment.  And so on.  

It sounds simple, right?  Not so much because, if you are like us, some unexpected and/or major expense usually occurs while following this plan, and it is easy to get derailed.  But I am here to testify, it can be done!  It isn’t fun by any means, but if you stick to the plan, once the snowball effect kicks in...those debts start disappearing.  

I added the caution to my advice that the catch is...once the debts are paid off...all that money that was going for debt repayment should be put into savings instead of just being spent.  I have fallen into that trap a few times.  Oh, look at all this extra money I have...what can I buy?  Bad, bad, bad idea!

The conversation eventually moved from monthly budgets to mortgages, taxes, and insurance.  Princess has been batting around the idea of maybe buying her own house in the next few years.  My motherly advice to her (and everyone else sitting at the table that night) was two-fold:  (1) always, always, always finance a mortgage with a fixed interest rate versus an adjustable rate, and (2) from Day One add 1/12 of your monthly mortgage payment to the regular payment amount.  Doing so can shave 10 to 15 years off the life of the mortgage and save thousands of dollars in interest.  

On the drive home, it occurred to me that somehow when I wasn’t paying attention...I have become the Old Wise Woman.  How did that happen?!  Trial and error mostly, I’d say.  

I’m not smarter than other people at all.  I’ve just, over the years, learned everything that doesn’t work and finally figured out what does.  It’s that school of hard knocks thing we talked about last week.  

So I got to thinking about what other stuff I might have gleaned over the years and came up with a few miscellaneous things.  These are not earth-shattering or life-altering, and you may very well know all this already.  But I'll tell you anyway just because I can.

• Vinegar and baking soda will deodorize and clean a drain, chemical-free.
• Soaking whites in diluted Cascade dishwasher soap will remove any and all stains, including grass stains.
• The leftover water after boiling sweet corn makes a good weed killer.
• Putting a piece of bread in the container with your brown sugar will keep the sugar soft.
• You can thicken any homemade soup with a dash of instant potato flakes.  
• If you put a dry bath towel in the dryer, the load will dry in about half the time.
• Mayonnaise is a good deep conditioner for your hair.
• Diluted apple cider vinegar spritzed on a sunburn will ease the sting.
• Crumpled newspaper in a pair of shoes will remove odors.
• Running your hands under cold water before shaping meatballs will keep the meat from sticking to your hands.
• Adding a few grains of rice to your salt shaker will keep the salt from clumping up.
• Use a staple remover to add things to your key ring and save your manicure.

The best helpful hint I have for you is to be grateful for what you have and always count your blessings!