Beating Broke

Personal Finance from the Broke Perspective

Your Credit Score Now Available on Kindle

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The Beating Broke Guide to Your Credit Score is a guide that I wrote a while back, that has been available as a download here on the site as a .pdf document for some time.  With the recent rise in usage for ebook readers, I thought it was time that it got converted over and presented as a kindle ebook.  So, that’s exactly what I did last weekend.  It’s now available in the Kindle store on Amazon for only $0.99.  It’s still available as a pdf download here for free, if that’s what you want, but I know some would rather have it directly on their reader.  It’s also been made available in the epub format (free) on Smashwords.

My Wife Quit Her Job: End of Year Update

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Last update, I told you that the COBRA health insurance plan premium went through the roof and we were deciding whether to continue paying for it, or to switch over to the plan that I get at work.  In the end, we decided to remain on the COBRA plan.  The difference was about $350 a month, but we figured that if we had only one or two medical mishaps, it would easily pay for itself with the 100% coverage.  And, as luck would have it, it turned out to be a good idea.  Both my wife and I ended up having issues that required several weeks of physical therapy.  Hers stems from an accident she had a few years back that seems to have thrown a few things off.  Nothing some pt and a pair of orthotics won’t fix.  Mine is from my football days.  Arguably, not completely necessary, but was something that would need to be fixed one way or the other, so decided to get it taken care of.  Then, to make our decision look even smarter, my wife fell in the ice and snow yesterday and severely sprained her ankle and knee and prompted a visit to the ER.  We got a nice new pair of crutches and what will likely be a very expensive pair of athletic wraps.  Of course, all paid for by our insurance.  The extra money has easily paid for itself.  But, that all ends on the 1st, so we’re switching back to the coverage that I get at work.

The business that my wife and her friends started continues to do well.  They received a very important certification from the state that will allow them to pick up another line of business and expand even further.  My wife continues to be the only one getting a regular paycheck from the company, but with this new certification, that will likely change very soon.  Luckily, the people that she’s working with are both very qualified for the business that they are in and have plenty of experience (my wife does to) so they don’t have much in the way of learning curves for the actual service that they provide.  Their biggest learning curve has been the actual running of the business.  They were smart and got a lawyer and an accountant right away though, so they’ve had excellent guidance along the way.

Also, I did receive a small raise this year which should help.  However, between the insurance and some increases in medical flex and childcare flex, my checks will likely be smaller than they were in 2009.  Most of that should come back through the flex accounts.  Tax free money for the win.  Especially on things like childcare that you’re going to spend money on anyways!

That Your Daddy’s Car?

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I want to share a story with you about work. About working for what you want, so that you can not only get what you want, but pay for it with cash.
My roommate in college (one of many) graduated college with no college loans. Not because he had scholarships, but because he paid for it with cash. Not only that, but he had a nice pickup and an even nicer classic car. It was a very nice drop-top convertible with a deep burgundy metal flake paint job. Every summer, he did a little bit of work on it until it was painstakingly nice.
68mustangblue_smallOne day, while we were out and about enjoying the sun with the top down, we happened to stop somewhere. It’s been a while ago, so I don’t exactly remember where. While we were there, some older guys (I’m guessing 40-50ish) came over to look at the car.
After asking the normal courtesy questions, like what kind of motor was in it and if the seats were original, one of the guys asked the wrong question.  “That your Daddy’s Car?”

My roommate isn’t exactly a shy person, but even he will admit that, at first, he was taken aback by the question. Despite our age (21ish), he had worked hard to put that car in the condition that it was in.  It was his car.  Not his daddy’s, his.  After he regained his senses, he made sure that the man who asked the question knew that it was his car. That he had done the work and he had paid for it.  The guy laughed his question off like it was a joke, although it was obvious that he hadn’t meant it jokingly.

Like most stories, this one has a moral at the end.  Or, at least, I’m giving it one.  Giving us all something to learn from it.  No matter how hard you work for something, there will always be that guy who will assume that you got it handed to you.  Nice car?  Must be your daddy’s.  Nice house?  Inheritance.  Or more loan that it’s worth.  Or you make a lot of money.  Or.  Or. Or.  The point is, they will find a way to assume that you got whatever it is by some other method than actual hard work.  And, like my roommate, you might feel that you need to set them straight.  Whether you do or not, is irrelevant.  What you need to take from this story is that when you set those goals, and you work hard to reach them, you must expect that there will be few people who will believe that you got it by working for it.  Some, you will be able to set straight.  Others will continue to think it no matter how many times you tell them.  Being disciplined and hard working requires a thicker skin.  You’ve got to be able to ignore the people who won’t believe.  They believe that anyone who has nice things got it the same way the majority of other people do.  Credit.  But you know better.  You got your things the Beating Broke Way!

Photo Credit: kkiser