Some encouraging thoughts for those getting a later financial start…

You’ve seen those charts haven’t you?

On-the-go Gary started investing $200 a month as a teen. He deposits this money every month and stops before he is 30.

Slacker Sam starts saving right after college and deposits the same amount each month until he’s 65.

Both assume the same interest rate and Gary ends up with more money. Way more money!

It’s really depressing unless you are in the .2% of the population who a.) had $200 a month to invest from the age of 13 and b.) actually invested it!

My husband and I are getting our financial acts together thanks to Dave Ramsey. We have worked hard following Dave’s “Total Money Makeover” making more progress in the last 18 months than we made in the previous 20 years of our marriage. Dave Ramsey seriously ROCKS!

During this time, we focused on goals and some other things are starting to come together in our lives. We realized that the type of investing I described above is not the only way to financial freedom. Don’t get me wrong – we both invest in our 401Ks and don’t intend to stop. We are not going to progress as quickly as our friend Gary however.

But that’s NOT the only way!!! Don’t let these examples rob you of your inspiration and motivation! Don’t let them depress you! There are so many possibilities around us. Many people in mid-life write their first book, inherit money, start a business, learn to make money on the Internet, etc. On top of that, we are now wiser and more disciplined. We will actually make good use of these opportunities.

Just as an example – My husband helped tonight with some tasks for a business we have on the side. He researched how to buy some software we needed. I had checked briefly and remembered it cost just under $900. George took the time to ask me exactly what version I needed and did some extra research. He learned that the version I could accept was now freeware and available to download at no cost. We had no idea!! That’s an extra $900 for our dreams.

Take that Gary!

Virtual envelopes …

I love this time of the year. It’s a time of great memories, warmth and family. But it’s also a time when your body is tired of rich food and craving veggies. You are ready to clear out the clutter as you store the new gifts. You are thinking ahead of new goals and challenges. Yup! New Year’s Day is just around the corner!

I work full-time as a computer programmer and one of my interests is personal finance. About 10 years ago, I wrote an application that lets me enter our bank deposits and then allocates the money to different categories that I set up. (Remember how grandma used envelopes to hold cash for various expenditures?) This application turned my checking account into a virtual envelope system. My kids loved it … I had a separate category for each of them and deposited money into these categories every week. Debits and checks were deducted from the appropriate category. Any time they needed new clothes, I had them check the computer to see how much money they had. They didn’t ask me if they could have money – they asked the computer! We did the same thing for eating out.

Each time Windows upgraded to a new version, I had to deal with hassles to keep it running. Finally my husband asked me to re-write it in a current language and to consider marketing it. We are testing the new version now and I am so excited!

Dave Ramsey teaches the envelope system and it works! The only problem is that I don’t do well with cash. I misplace it and either spend too much or give it away. Keeping everything in checking stressed me out because I never knew how much I could spend and still have enough to make the mortgage payment. Using this software got our finances under control. I can hold money for the semi-annual car insurance and the monthly mortgage and still know exactly how much I can spend on clothes! It doesn’t require bank account numbers which gives me more peace of mind. We are making great progress towards our financial goals.

Do you have challenges managing your day to day expenses?

Consider adding a taste of Savannah to your Thanksgiving menu …

And no, I am not talking about Paula Deen!

Savannah Seasons is one of the best cookbooks I own! Inside are wonderful and usually simple recipes that offer readers a taste of the new South.

We shared our favorite fall foods at work last week. I brought “Savannah Creamed Rice” – a savory rice dish with country ham, mushrooms, and several other goodies. Now I admit that a bunch of IT guys are pretty easy to please, but after the meal one of them stood up and begged for this recipe!

I am going to add Savannah Creamed Rice to our Thanksgiving menu and you should consider it too! After you try it, order the book while it is still in print! I’m still cooking my way through this book but the dozen or so recipes I’ve tried so far have all been home runs!

Cooking 101 – a good saute pan

You can save a lot of money by cooking your own food.

If you are just starting out, consider buying a good saute pan.  Ideally this pan should be heavy stainless steel … and if you shop retail, they can be expensive!!

A heavy, stainless steel saute pan can cook an entire meal for you.  There is no transfer of metal and you don’t have to worry about tomato sauces tasting funny.  My second choice would be a heavy cast iron skillet but these are a little more challenging to care for.

First head to an expensive cooking store like Williams and Sonoma, your local department store.  Check out the All-Clad stainless steel pans and feel how heavy they are.  This is awesome – the heat conducts evenly and really cool sauces can be made in these pans after you have grilled or sauteed your meat (or vegetarian entree.)

Head to Marshalls, Ross or TJ Max and start looking for great deals in pans with a similar weight.  Make sure you are looking at stainless steel not aluminum.  Keep watching and eventually you’ll find a great pan in the $20 – $30 range.  Buy it with confidence – it will last the rest of your life!!

You’ll be able to saute chicken breasts or fish in this pan. You can sizzle or even steam veggies in this pan.

What would you tell someone who has no cooking equipment to buy?

A quick smattering of tips and tricks …

The focus of this blog continues to be on green – as in healthy eating and healthy finances!

In that spirit, here are a few things that happened around here last week:

We are in a huge time crunch but needed to enjoy a great home-cooked meal together. In that spirit, George came home with a new (for us) Bag ‘n Season mix from McCormick and it did not disappoint! He picked up a chuck roast and it wasn’t very thick. We cut the cooking time in half and then turned off the oven while we napped. It was fabulous! The directions call for adding carrots and potatoes (which we did) and the flavor was incredible. The roast was so tender, I cut it with a spoon while serving it.

We ate out last night (that time crunch again) and each had a bowl of soup, piece of fish and steamed veggies. The bill (after tip and we are good tippers) was over $38!! That’s more than a third of our weekly budget!! The roast today took the same amount of time to prep as it did to go to Chili’s last night but cost much less to fix. We also have enough leftovers for a second meal – whoo hoo!

Did I mention the meal out did NOT fill our home with great aromas and vibes? I can’t believe I forgot to mention that!

Another trick – tricking myself out of dessert … I’ve been a Nazi lately about not eating sugar and really was missing something sweet late this afternoon. Golden raisins and raw walnuts fit the bill. I filled a small custard dish with the mix. The nuts provide richness (plus those omegas we all need) and the raisins add just the right touch of sweetness. I drank some herbal tea with it and my cravings are gone.

Last – I present a couple of tips and tips I used with our oldest grandson lately. We played Monopoly recently using the electronic “Here and Now” version. There’s a square you may land on between Park Place and Boardwalk. It demands a hefty payment for interest! He landed on it and I told him no one in our family has to pay anything on that square because no one in our family uses credit cards! I’m also careful to call the electronic cards debit cards and to explain the difference. Anyway, it’s a fun way to drive the point home! Call me in 15 years and I’ll let you know if it worked!

I’m also trying to get him to see why math is important. We stopped to buy a few snacks on our way to pick up his best buddy. I gave him a ten dollar bill and off we went. He picked out something that cost three dollars and change and wanted to get another snack. I told him he could IF he could add the two numbers in his head and if the total was under ten dollars. He managed to do it and grinned ear to ear! Since I’m “the bestest grandma,” he also got to keep the change!!

Cooking (and eating healthy) for one

Why does it seem easier to cook a meal for a family than just for oneself?

My husband has had to travel a great deal lately and I just can’t seem to find the energy to cook when he’s gone!

If you have the same problem, realize you probably DON’T have the same energy! Your schedules have been disrupted and you may not be getting the same amount of sleep. When everyone is home, someone pretty much has to cook especially if there are kids in the house. You do what you have to do but your body thanks you for a good meal!

This morning I’m setting a sweet potato on the counter. When I get home, all I’ll have to do is turn on the oven and cook the thing for an hour. I’ll have something hot, filling and nutrious to eat and the house will get warmed up. If my sweetie’s schedule doesn’t lighten up, I may be looking at some toaster ovens too.

I think the key is to plan some quick meals – have some boneless, skinless chicken breast to sizzle and a few fresh veggies to steam. If nothing else, stop at the market and pick up a few frozen dinners. Get the junk food out of your house so that it isn’t an option. Consider eating lunch out and order a good hot meal.

Lean and green … green as in cash!

Simple Mom commenters are talking about ways to help their family’s finances and I left a comment there with several ideas that either have worked for me or for some of my friends.

I thought I’d share a project I’m currently working on.   We bought a home that wasn’t selling because the interior was ugly seriously outdated.  Because of that, we were able to negotiate a fantastic price on the house.  I don’t know about you, but I hate housework.  I’d rather come home and write a computer program than cook and clean any day! For that reason, I haven’t gotten around to doing much updating.  We painted the living room and got really busy with our careers and raising our kids.

My husband and I talked about our vision for this house (which is still … well … pretty ugly.)   After checking out what homes in our neighborhood have sold for recently, I’m convinced we could make some serious money by updating the interior with paint and some inexpensive decor.   We are empty nesters now and never use half of our home!!

You may not be an empty nester (and I realize this isn’t the best economy for selling a house.)  But I wish I had had the vision that keeping our home updated, decorated and well-maintained would result in some serious money when it was time to sell.  It only takes one buyer and the best kept homes are the first to sell (in any economy.)  A friend of mine always kept an immaculate home and she just sold hers for a very good price.

With the election behind us, many are hopeful that the economy is going to turn around.  Consider anticipating this change and start getting ready.  It’s easier to clean, declutter and fix up a home when you can envision extra money coming in!!

If you don’t own a home, this may be the time to buy.  If you do, try to find a decent house with curb appeal that needs updating on the inside.  You’ll be able to negotiate a better price and you were going to change the colors anyway weren’t you??

One of the best ways to eat well on a budget

Make some homemade bread …

For the cost of some flour, a little yeast, oil, salt and water you can fill your home with warmth and your kitchen with incredible smells.  You will round out a frugal meal with something warm, tasty and filling while putting smiles on everyone’s faces (do you know ANYONE who doesn’t like freshly baked bread warm from the oven?)

You can do this quickly even if you’ve worked outside your home all day by baking focaccia, a simple yeast bread that only needs one short rise.

Cheating (sort of!)

Start making yourself eat on a the same amount of money each week and you’ll get creative I tell ya!!

My husband had to go out of town on business and I was just too lazy tired to fool around with cooking.  We had some junk food laying around from the last camping trip so I ate pretzels and Reese’s snackers for supper while he was gone.

George stopped at Whole Foods in Marietta on his way home.  We were both fighting fatique and headaches so he phoned to say he was bringing home something for dinner.  He found a huge organic dinner meant to heat and serve for $15.  Since he was still traveling, he was allowed to expense this meal.  It was cheaper than eating in a restaurant and enough food (a turkey meatloaf, sweet potato fries and steamed broccoli to make two meals for us.)

So this is kind of cheating … we’ve only spent $35 on food this week.  I’m going to put the extra cash aside to use the week of Thanksgiving.

Oh and did I mention that I think this raging headache is from the lousy way I’ve been eating the last couple of nights?

Sausage, kale and potato soup

There are a lot of versions of this recipe on the net for this Portuguese soup – here’s our version.

Saute sweet Italian sausage (I removed the casings) with chopped onion in a bit of olive oil.  Cover with chicken broth and add sliced (raw) potatoes.  I leave the potatoes unpeeled for added nutrition.  Cover with chicken broth and cook until the potatoes are done.  I break the potatoes into chunks with a wooden spoon after they have cooked through.

Wash fresh kale and trim the stalks off. Rough chop the kale and dump it into the simmering soup. I let the kale cook for 4-5 minutes but you may prefer that it cook longer.

I judge how much of each ingredient to use by paying attention and using some judgement. Tonight we only had two links of sausage so we used two potatoes, one onion and several handfuls of fresh kale.   I used about 4 cups of chicken broth.  It made 6 servings.

Season with salt and pepper to taste and serve.