Tuesday, October 18, 2011
Christmas Plans
Yes, the holidays are coming!
Will you be travelling? If so, you probably want to start looking at air fares now. I like kayak.com to book airlines. If you live near an airport that Southwest Airlines flies to, they usually have great rates also.
Will you be hosting dinner? If so how many people will be attending? Do you have enough dishes and tables? If not, start reserving them now - check locally for places to rent tables and chairs. Consider disposable dishes.
Will others be bring food? If so, start planning and finding out what everyone will bring. This way if someone says they will bring dessert - you don't end up with 12 pumpkin pies.
What will the weather be like where you're at? If traveling, be prepared if the weather is different from where you are. At the same time, if you have guest and you're in a different climate, let your guest know what to expect.
If you have guest coming, are there special things to see in your area? In the past, when I have visited my sister in Atlanta, I have visited Stone Mountain at Christmas, Rock City at Christmas, as well as taken a drive to see the lights down by Emory University. This gives you a chance to prepare or rest and gives your guest some time to get out of the house.
If you do have someone staying with you - how long will it be for? Don't forget to buy extra soap, toilet paper, and other items such as toothpaste, shampoo, etc that they may need. Also, don't be shy about letting them know the house rules. For instance, in my sister's home, you do not walk into the kitchen without washing your hands, the beds are made every morning, etc...
Will you be travelling? If so, you probably want to start looking at air fares now. I like kayak.com to book airlines. If you live near an airport that Southwest Airlines flies to, they usually have great rates also.
Will you be hosting dinner? If so how many people will be attending? Do you have enough dishes and tables? If not, start reserving them now - check locally for places to rent tables and chairs. Consider disposable dishes.
Will others be bring food? If so, start planning and finding out what everyone will bring. This way if someone says they will bring dessert - you don't end up with 12 pumpkin pies.
What will the weather be like where you're at? If traveling, be prepared if the weather is different from where you are. At the same time, if you have guest and you're in a different climate, let your guest know what to expect.
If you have guest coming, are there special things to see in your area? In the past, when I have visited my sister in Atlanta, I have visited Stone Mountain at Christmas, Rock City at Christmas, as well as taken a drive to see the lights down by Emory University. This gives you a chance to prepare or rest and gives your guest some time to get out of the house.
If you do have someone staying with you - how long will it be for? Don't forget to buy extra soap, toilet paper, and other items such as toothpaste, shampoo, etc that they may need. Also, don't be shy about letting them know the house rules. For instance, in my sister's home, you do not walk into the kitchen without washing your hands, the beds are made every morning, etc...
Preparing for the Loss of Your Home
You're behind on payments. In danger of foreclosure. You know it's a matter of time........
First question - Think about the payments that you should have been making - Have you put that money back into savings or have you spent it?
If you have spent it - perhaps you need to rethink your priorities - It will be to your advantage to have cash to take to the mortgage company to help save your home!
You've probably heard the saying that banks are out to foreclose on your home. BULLSHIT! It costs the bank more to foreclose on a home than it does for you to stay in it.
As s former default mortgage underwriter and a former manager of underwriter's here are a few pieces of advice that will help you:
If your home if foreclosed upon, you will need to start over. Do not vandalize the property, in addition to any forgiveness of debt, you could possibly be responsible for criminal charges (Keep in mind that this could make it more difficult for you to get a job, if that is the reason for your default).
Check with your mortgage holder to see if they have a cash for keys program. This is where you mortgage holder will give you a minimal amount of cash to move out of your home by a specified date and you have to agree not to damage the property and leave on time.
There is also a lot of talk about property values and homeowners that are upside down on their mortgages. The reality is - markets move up and down all the time. Right now, the real estate market is down. However, when it goes back up, no one will be complaining then. My question - and one for you to think about - When the market does recover - should the banks be able to come back and claim the money they lost since the value of the property has risen?? Also, do you really think you will see people getting cash out again on loans? Probably not.
First question - Think about the payments that you should have been making - Have you put that money back into savings or have you spent it?
If you have spent it - perhaps you need to rethink your priorities - It will be to your advantage to have cash to take to the mortgage company to help save your home!
You've probably heard the saying that banks are out to foreclose on your home. BULLSHIT! It costs the bank more to foreclose on a home than it does for you to stay in it.
As s former default mortgage underwriter and a former manager of underwriter's here are a few pieces of advice that will help you:
- If you are behind on your mortgage, call you mortgage holder. See what options they have to help.
- Propose a plan on how you are going to pay for your mortgage if the mortgage holder approves a workout plan.
- Make sure you return the requested documents as soon as they are asked for. This will include: paystubs or p&l if self employed, tax returns (2 years personal and business if self employed), bank statements (the number of months vary with each entity, all legal forms that were sent to you by your mortgage holder (the government requires that they have them).
- Do not pay others to speak for you. Believe me, mortgage companies do not give them more credence than the homeowner.
- Keep in mind, government programs such as HAMP have very narrow margins in which to qualify. Most mortgage holders have proprietary programs that they can offer, which have broader guidelines than the government programs.
If your home if foreclosed upon, you will need to start over. Do not vandalize the property, in addition to any forgiveness of debt, you could possibly be responsible for criminal charges (Keep in mind that this could make it more difficult for you to get a job, if that is the reason for your default).
Check with your mortgage holder to see if they have a cash for keys program. This is where you mortgage holder will give you a minimal amount of cash to move out of your home by a specified date and you have to agree not to damage the property and leave on time.
There is also a lot of talk about property values and homeowners that are upside down on their mortgages. The reality is - markets move up and down all the time. Right now, the real estate market is down. However, when it goes back up, no one will be complaining then. My question - and one for you to think about - When the market does recover - should the banks be able to come back and claim the money they lost since the value of the property has risen?? Also, do you really think you will see people getting cash out again on loans? Probably not.
Preparing for Job Loss
So your company is not doing so well and you think you may not have a job much longer. There are some things that you can do now that will help to lessen the blow of losing your job..
Update your resume. Start sending it out. Not just to the companies listed on job boards, but think about other companies that are in your industry, other companies that may offer positions similar to yours, and companies listed on job boards such as indeed.com.
Check out your competitors. When looking at your company - look at who it is competing with. They may be hiring.
Renew your contacts. There are people in the past that you have worked with either as a coworker or as a sales rep or marketing agent. Get back in touch with them. They may know of positions.
Pay off as much debt as you can. The more you pay off now, the less stress you will be under if you are laid off. By all means, DO NOT accumulate more debt if you can help it!
Know where you will live. If your home or your apartment depends on you having a job, start looking at places you can live if you lose your job.
Trade down. If you're driving a luxury car, trade it in now and see about getting something that is more affordable. The same with apartments, etc.
Cash on hand. Make sure you have some cash on hand. Everyone should have 4-6 months in a savings account. Less than 1% do. Make sure your not left with nothing.
Update your resume. Start sending it out. Not just to the companies listed on job boards, but think about other companies that are in your industry, other companies that may offer positions similar to yours, and companies listed on job boards such as indeed.com.
Check out your competitors. When looking at your company - look at who it is competing with. They may be hiring.
Renew your contacts. There are people in the past that you have worked with either as a coworker or as a sales rep or marketing agent. Get back in touch with them. They may know of positions.
Pay off as much debt as you can. The more you pay off now, the less stress you will be under if you are laid off. By all means, DO NOT accumulate more debt if you can help it!
Know where you will live. If your home or your apartment depends on you having a job, start looking at places you can live if you lose your job.
Trade down. If you're driving a luxury car, trade it in now and see about getting something that is more affordable. The same with apartments, etc.
Cash on hand. Make sure you have some cash on hand. Everyone should have 4-6 months in a savings account. Less than 1% do. Make sure your not left with nothing.
Monday, October 17, 2011
Holiday Prepping
By holidays I mean - Thanksgiving, Christmas, New Year's Day - or whatever you may celebrate that you intend to cook for.
I usually cook 4 big family meals a year, the three listed above and Easter.
First, set your menu, whether it is traditional or like I do and fix something different every year.
When trying new recipes, go through each recipe and make a list of ingredients that you will need - divide it out by perishables and non-perishables.
Start buying your non-perishable items in late October and through November and keeping them on the shelf. This way, as each holiday approaches, the only thing you have to buy extra is the perishables.
This should cut down your final expense the week that you are cooking.
I usually cook 4 big family meals a year, the three listed above and Easter.
First, set your menu, whether it is traditional or like I do and fix something different every year.
When trying new recipes, go through each recipe and make a list of ingredients that you will need - divide it out by perishables and non-perishables.
Start buying your non-perishable items in late October and through November and keeping them on the shelf. This way, as each holiday approaches, the only thing you have to buy extra is the perishables.
This should cut down your final expense the week that you are cooking.
Emergencies on the Road and What You Should Have in Your Car
You never know when an emergency will occur. With the winter season approaching it is best to be prepared. Here are a few things you should have tucked away in the trunk of your car.
Water - At least 2-3 bottles tucked away in case your car breaks down, you have something to soothe your thirst.
Food - Not a meal but something along the lines of a package of jerky, a box of energy bars, a box of pop tarts, etc - you get the idea.
Blanket(s) - You should have a blanket or even a sleeping bag for as many people that normally ride in your car or as many seats that you have. I say this because if you are driving and you have front bucket seats you will want a blanket for yourself, one for the passenger, and then at least on for the backseat, unless you have a Suburban or Excusion - then you have more seats to worry about. Usually more than one child can huddle together under a blanket.
Clothes - If you live in an area where the weather can change on the flip of a coin, then it is best to always have a coat or if you're a female a pair of jogging pants in the car. This way if you have to walk, you have pants that can easily be put on and taken off (I say this from wearing dresses and having to walk from a parking garage several blocks away).
First Aid Kit - What can I say, you never know when something is going to happen. Especially if you have kids or friends.
Road Flares - If your car does break down, especially at night, you don't want to be hit by a passing motorist. The flares will let them know your car is there on the side of a road.
Flashlight - It is always good to have a flashlight handy. Just be sure and check the batteries!
Anti-Freeze - Now is the best time to make sure you have coolant. True story, I just bought some for my car last Saturday, decided to check it just in case and ended up adding half of the jug. I was low. I keep it in my trunk.
Washer Fluid - It is always good to keep this in your car so that you can add it as needed.
Brake Fluid - Now is also a good time to check brake fluid and keep some on hand.
Oil - Find out what kind your car takes and keep at least 2 quarts spare in your car.
Fuses - It's always good to keep extra's on hand.
Fix-A-Flat - Just in case.
Duct Tape - Has been known to mend a hose long enough to get you to a place of safety.
WD-40 - Just in case.
Now is also a good time to check all of your lights and your wiper blades to make sure they are in working order.
FYI - I keep all the fluids in a small square laundry basket in the trunk of my car. I can't stand things rolling around in the back and I would hate for one of them to spill.
Water - At least 2-3 bottles tucked away in case your car breaks down, you have something to soothe your thirst.
Food - Not a meal but something along the lines of a package of jerky, a box of energy bars, a box of pop tarts, etc - you get the idea.
Blanket(s) - You should have a blanket or even a sleeping bag for as many people that normally ride in your car or as many seats that you have. I say this because if you are driving and you have front bucket seats you will want a blanket for yourself, one for the passenger, and then at least on for the backseat, unless you have a Suburban or Excusion - then you have more seats to worry about. Usually more than one child can huddle together under a blanket.
Clothes - If you live in an area where the weather can change on the flip of a coin, then it is best to always have a coat or if you're a female a pair of jogging pants in the car. This way if you have to walk, you have pants that can easily be put on and taken off (I say this from wearing dresses and having to walk from a parking garage several blocks away).
First Aid Kit - What can I say, you never know when something is going to happen. Especially if you have kids or friends.
Road Flares - If your car does break down, especially at night, you don't want to be hit by a passing motorist. The flares will let them know your car is there on the side of a road.
Flashlight - It is always good to have a flashlight handy. Just be sure and check the batteries!
Anti-Freeze - Now is the best time to make sure you have coolant. True story, I just bought some for my car last Saturday, decided to check it just in case and ended up adding half of the jug. I was low. I keep it in my trunk.
Washer Fluid - It is always good to keep this in your car so that you can add it as needed.
Brake Fluid - Now is also a good time to check brake fluid and keep some on hand.
Oil - Find out what kind your car takes and keep at least 2 quarts spare in your car.
Fuses - It's always good to keep extra's on hand.
Fix-A-Flat - Just in case.
Duct Tape - Has been known to mend a hose long enough to get you to a place of safety.
WD-40 - Just in case.
Now is also a good time to check all of your lights and your wiper blades to make sure they are in working order.
FYI - I keep all the fluids in a small square laundry basket in the trunk of my car. I can't stand things rolling around in the back and I would hate for one of them to spill.
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