I spent last weekend on a Girl Scout trip to Cajun country. Of course there was a gift shop everywhere we went. Of course my daughter wanted to spend money (I was shocked at how much money some of those kids had). We don't give our kids a lot of pocket money; we pay for their needs and the wants we want them to have, Their allowances are for foolishness. I gave her some spending money for the trip and told her that she didn't need to consult with me before she spent it, but that she wasn't getting any more, and she didn't have to give unspent money back. Amazing how that cuts down on the begging, and on the junky souvenirs.
I did pretty much the same thing with my college girl. She came home with a bunch of "I wants". I told her that I was putting $x in her bank account per semester; if she needed more, she should get a job or would have to take out a loan. I wasn't going to micro-manage her spending.
|College students have tough lives|
Our Catholic school, like most, is looking for innovative fund raisers. This year we are doing "Leaf a Legacy". We have trees painted in the hallways and for $20 you can purchase a leaf with your name on it. We are marketing to parents, parishioners, alumni and friends of the school. Hopefully we get good participation.
I recently started a new blog about money called Racing Towards Retirement and have written on such topics as being an executor, peer to peer lending and various investment options (including Kickfurther). I also review books on financial planning or investment. What retirement-oriented financial topics would interest you?
I found a new investment website called Kickfurther.com. They help relatively new businesses afford to manufacture or sell products by purchasing those products and then giving them to the business to sell on consignment. Kickfurther gets the money to purchase that inventory from investors, who are paid a percent of the total purchase. A typical offer is 8% over 6 months, though some offers are longer or shorter and interest rates can be more or less.If you want to invest right now, you can invest in haircare products.
The company will pay 4% of the amount you invest, and it plans to pay it in one installment, three months from now.
Another current offer is for jewelery earphones. They are offering 12% of your investment. There will be 90 days lead time and the first payment will happen December 8, and five total payments are scheduled. The vendors are required to pay for the inventory as it is sold, so if the company is able to sell all those earphones in the first month, they pay back 112% of your investment after a month. If it takes longer, they aren't in default until April 8. Whether it takes one month or five of paybacks, the investors get the same return, 12%. That means that the actual apr is higher than 12% If the vendor is unable to sell the product, then the investors own it and decide as a group what to do with it. You can invest as little as $20 per product, or as much as $1,000. I've invested $50-$100 per deal and $1,000 total. My plan is to add $100 per month, and to reinvest as payments are made. If I have a successful year, I may add more next year. While I would be unhappy to lose this money, given our current financial situation it would not be catastrophic. If you want to try investing with Kickfurther, use this link, and you'll get a $5.00 credit, so you can kick the tires with only $15.00. If you have small business and are looking for inventory financing, click this link to see what Kickfurther can offer you (yes, these are affiliate links and yes, I get paid if you invest or borrow money). I'm not a financial expert, and you need to consider for yourself whether this is an appropriate investment for you and your financial situation. So far, I've invested in one product which paid 8% after two and a half months, and a number of other products which are in the process of paying or from which payments are not yet due. I cannot begin to estimate expected losses, though logically one would expect some.
Speaking of money, we are spending a lot of it here this summer. We are in the process of renovating our bathrooms, and like the old saying goes, it takes longer than expected. We signed the contract over two months ago, and they ordered everything. When the tub surround came in, it was scratched,so they sent it back and we waited another three weeks. Then I started having second thoughts about my flooring choice and decided I'd rather buy a new box of tile than have to live with something I hated or pay to replace something that was already installed. It is a good thing I did,because when I opened the first box I noticed that it was not what we ordered, though it was similar and so now we have to pick out a new floor (and if not in stock, wait for it to be delivered).
|Before (green tile came with the house, rest was decorated in 1996)|
|Before (well, after my attempt at a tile pattern years ago after a plumbing repair)|
I hope all of you have money at the end of the month rather than month at the end of the money.