If you’ve been following along lately, we’re in the process of buying a business. For this round, we’re gonna have a little “Q and A” fun. I’ve been sent a lot of questions recently and I’ve got a lot of answers. So let’s dig in.
Last time I checked in, I told you that we’ve decided to pursue the purchase of a self-service coin laundry business. That is still the case, and for the last few weeks we’ve been completely immersed in coin laundry industry jargon. Who knew there was an entire underground (well, sort of) community of people who live and breathe the laundry business? No joke. I can now state with complete confidence that it’s true.
HAPPY THANKSGIVING ALL!
So a whole heck of a lot has been going on at our house lately. (Not sure why I’m stating that as something notable. There’s pretty much something always going on at our house.)
If you remember from my last post, Randy was offered a lump sum payout from his former employer, in lieu of a small annual pension at age 65. And it was pretty much a no-brainer that we would take the lump sum and directly roll it over to a Traditional IRA, to avoid heavy taxes and penalties (and of course, allow that money to reach its full potential). So that’s what we did.
Every once in a while, a sweet little cash angel may drop an unexpected gift in your lap. Sometimes it’s just $20 from a coat pocket, or a crisp $100 bill laying on the ground (this actually happened to me). But if you’re lucky, it turns out to be a whole lot more than that.
On Monday we received a letter in the mail. It was from Kodak, my husband’s former employer, asking if he wanted to cash out his pension benefit. It’s not a large pension, but it would have provided a fixed $6,600 annual payment once he turned 65. Now they want to cash us out with a lump sum.
Two months ago, our washing machine stopped working in the middle of a wash cycle. It’s 15 years old, so we figured it may actually be time to look for a new one. But if you know us at all, we weren’t going down without a fight.
After some googling, we found it was a simple 2-minute fix. Literally.
How many people would have called a technician, or worse…bought a brand new washing machine? (Strangely enough, just a few weeks later, some friends of ours had the exact same problem. They were just a hair away from buying a replacement, as they didn’t really believe it could be as simple as we described. They went home, and sure enough…that was exactly the problem. Saved them from spending an unnecessary $700. You’re welcome, friends-to-remain-unnamed.)
But even with all the dirt, football and boogers, you wanna know what’s super awesome about having a boy?
I can shop for his clothes anywhere I want, and without him present.
The girls? That’s a different story.
Me: I bought this cute pink sweater for you today.
Girl Child: That’s not pink. That’s fuchsia. I don’t wear fuchsia anymore.
Me: You wore fuchsia yesterday.
Girl Child: I know. That was yesterday.
I’ve just about had it. If I see one more article/blog post/tweet telling me that I need to give up my foo-foo coffee habit in the name of finance, I’m gonna…well, I don’t actually know what I’d do. But enough already!
There’s always somebody whining about Starbucks. It’s wasteful. It’s indulgent. It’s unnecessary spending. Yeah, yeah, yeah. But it’s about time the budget nazis get back behind the scope of their blame cannon and pick a better target. (Wow, it felt good to get that out.)
I admit I’ve been looking forward to this DIY post. Not only because the project is finished, but it also means we’ll no longer be living in a construction zone (at least for a while, until we start our next project). 🙂
We finished our Board-and-Batten wall treatments! Our grand total came in under $100, and they look…well…fantastic!
Whoa, let’s back up a second. Are you wondering what the heck “Board and Batten” is? No problem. It’s a type of decorative interior wall paneling.
By now you know I’m all about being frugally cool, and living a rocking life on a budget. But I’ve got to tell you, I’ve never really been the coupon-ing type. It’s still kind of a mystery to me, and seeing a glimpse of Extreme Couponing on TLC a few months ago revealed what looked to be living rooms full of deodorant and dental floss. (Maybe some of you expert coupon-ers can enlighten me otherwise.)
Or maybe I’m jaded from a lifetime of receiving coupons like this…
If you’ve read this blog for any length of time, you know that my husband and I have a big financial goal. And one way to motivate yourself towards a goal is to track your progress. So every few months, we check how we’re doing on the savings front, and determine whether we’re on track, a little behind, or past the mark (which would be awesome).
Back in an earlier post, I showed you our annual benchmarks in order to meet our million-dollar target. I posted it again below. Last year, we passed our benchmark and landed at $90,897. From a combination of hard-core saving (frugal living rocks!), average-or-better stock market returns, and the magic of compound interest, my savings forecaster (is that a word?) says we could reach our end goal in the Year 2021.