Monthly Archives: May 2008

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Countrywide Home LoansSo this morning I wrote and mailed the check for June’s mortgage payment.

Sure, it’s a little early but had it not been for the Tax Stimulus check coming in last week, I wouldn’t have been able to write that check just yet.

I’m not sure I feel stimulated by the experience.

Actually, I’m not feeling any stimulation. And I think that will be the case for most who receive these paybacks.

Though one could argue that by sending my entire stimulus check to Countrywide (a company on the brink of bankruptcy), I am doing my part to “save” the economy from a recession…

I guess?

Anyway, I still have my original plans for the payout on my mind, it’s just that, now, I’m gonna use the next coming paycheck to fund the frivolous spending…

That is, if the plumber doesn’t ‘up’ the bill significantly…

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They mailed it — that’s what took so long!

You’d think that with the stench of sewage in someone’s basement that there would be a little bit of urgency on their part.

You’d think…

What’s a little fuzzy mold, right?

Anyway, the quote is $527.74. And we’re going to do accept it.

See, this isn’t something we really want to delay. The odor is rough, putting it mildly, and I’ve come to the conclusion that no matter who we choose, I still won’t be 100% satisfied by the price or the quality of work.

Anyway, here’s the scope of the work to be done:

Plumbing Quote

I’m not completely certain that $527.74 is a great price. In fact, I’d bet I could do the work myself while spending just $80 in materials at Home Depot or Lowes.

But at this point, I just want my house to smell fresh and clean again. Sooner rather than later and that’s why we’re not going to solicit additional quotes.

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Adobe InDesign CS2Following the six hundred dollar Canon Fisheye purchase in January of 2007, another complete lapse of financial responsibility occurred a few weeks later.

My dumb purchase for February of 2007 was Adobe InDesign CS2 — the successor to Adobe PageMaker, a desktop publishing application. You want to make slick looking PDF files? InDesign is the program to use.

I foolishly purchased it for a website design project that I had already completed (and been paid in full for). The client came back and asked that I turn my design into a hardcopy format — not really understanding that a booklet/brochure and an animated dynamic website were two totally different mediums… As if the animation wasn’t a dead giveaway…

I agreed to do it — without additional payment as they seemed to think that was part of the original proposal (and I didn’t call them on it) — but first I needed the software…

To my credit, I didn’t pay the full price…which happened to be $699 at the time.

I knew I wasn’t going to use this software very much, hardcopy is *not* my specialty, so I went looking for a legitimate copy of it on eBay. In the past, I’ve had pretty decent luck purchasing software there. To date, nothing totally bootleg has come my way.

In the end, my copy of Adobe InDesign CS2 set me back $300.

Since finishing up that project, I’d say I’ve used the program maybe 5 times. Sure, it’s come in handy in a pinch, but certainly not anywhere near $300 worth of handiness.

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TreasuryDirect Access CardThanks to Treasury Direct’s overly secure login sequence…

With a positive cash flow again, I seriously considered throwing some money at I-Bonds again, and with interest rates dropping like a rock, if I jumped the gun before the May 1st, when the fixed rates are adjusted semi-annually, I’d have surely been pulling in a better return than what ING currently offers.

On April 30, I decided to make a move. I logged into my TreasuryDirect account…

Or I tried to…

See, for a couple of years now, they’ve had this “virtual keyboard” login sequence. You have to click all over the place on a randomized keyboard to enter your password. It’s more of a pain than anything else. But a couple of months ago, they took it a step further and mailed everyone an Access Card.

I opened it, looked at it, and put it away. It looked like a Bingo Card. No joke, that’s it up on the right.

So now, in addition to the virtual keyboard, they make you play bingo. Again, with another randomized virtual keyboard.

Could they make logging in any more of a hassle? It’s overkill.

Needless to say, I didn’t have the super secret access card on me, so I couldn’t login. That evening, I thought, “Hey, maybe I can squeak in a last minute transaction before the rates change tomorrow…”

I logged in using my wacky bingo card, set-up a transfer for $1000, a click here, a click there… Things were going pretty smoothly — I didn’t even accidentally hit the “back” button (something you can’t do on their difficult to navigate website)

I was almost done, and feeling pretty good about this wise money move I was making. But then I read the fine print — my transaction wouldn’t go through until May 1st.

That was too late. I cancelled the transaction — and thank goodness for that!

On May 1st, the U.S. Treasury cut the fixed interest rate on I-Bonds all the way down to 0.00%. That’s not a typo. The rate is zero. Nil. Nada. Zip.

I’m sure glad I didn’t accidentally throw $1000 in that direction now — can you imagine being stuck with a 0.00% fixed rate? Now, I realize the real rate is 4.84%, but that’s just the inflation component that changes every six months. While that might sound attractive given that most online banks only offer something in the 3% range, it really isn’t, with the fixed rate at zero, you’re only keeping up with inflation — you’re not gaining anything. On top of it, you can’t get at the money for 12 months.

Not much of a deal there.

In the end, it makes me feel a little better about the little I still have invested in I-Bonds which are currently a rate of 6.27%.

Now *that* was a deal…

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PlumberCan I just say that I hate contractors?

Seriously, is there a reputable contractor in existence? It’s really frustrating.

Over the past couple of years, we’ve done some pretty major renovations to our home. Back in December of 2006, we had our roof done. The original roof had two layers of the asphalt shingles and these were on top of a layer of cedar shingles which were likely original to our 100+ year old house.

Basically, it was a pretty big job simply because of all of the stuff that had to be removed and all of the additional material, like plywood, that had to be added before the re-roof even started. Total bill was around $14k.

It started off great, a HUGE dumpster was delivered and dropped right in our yard and work began. After a few days though, it was as though the dumpster was an afterthought. They were just letting the debris slide off the end of the roof. I can understand that — it would be a lot easier, but they dumped probably half of the roof onto decorative shrubs right in the front of our house?!

It got worse though. I didn’t mind that the debris had ripped probably 80% of the screens in our windows, whatever, but one evening I came home and found the window on our detached garage (which was not being worked on) was broken.

I went in, and noticed some finger dust marks (the car was in storage for the winter and it gets pretty dusty) over a deep scratch on the hood of my BMW?! No broken glass anywhere on the floor. Very odd. My wife and I went all CSI and came to the conclusion that they somehow managed to throw a brick from the chimney on the roof, through the window of my garage.

From there, they went into the garage, probably crapped their pants when they saw the car it hit, and they tried to clean up the evidence. I wanted to barf. Profanity was used.

I was upset about the car. I was upset they went into my garage. I was upset that they tried to cover it up. I was upset that they killed my bushes. While the did a nice job on the roof, in the grand scheme, I wasn’t at all happy with the contractors.

Making matters worse, the dumpster remained in our yard for an additional 3 weeks — on Christmas Day, yes, we had a 40 cubic yard dumpster along side our house. It was very festive. Adding insult to injury, the construction company was stopping by a couple of times a day, driving right up on our lawn, and dumping more into it.

Sure, the neighbors probably thought we were also having our kitchen remodeled, based on the additional debris from other projects piled high above the walls of the dumpster, but in actuality, we were just the contractor’s personal landfill.

The next project was the siding project that I detailed on the site last summer. The contractor we selected had a seedy sales team, you know, were the one guy just goes on and on and on about how beautiful your wife is (while it’s obvious he’s just a dirty pig), and how she’ll love this color siding (I hope so, she picked it…), and how he was a star baseball player for the Red Sox back in the day. I looked him up. He wasn’t. Besides, I hate baseball. Nice try there, bro.

Anyway, the cost of that project was over $26k. It was supposed to take 2 weeks to complete and work began on June 14 — two weeks earlier than it was supposed to.

Things looked good — everyone was happy. And then it took a turn for the worse. They ordered the wrong window for our attic. They put another window in the wrong place. They lost an employee so they couldn’t do any work. They put the wrong header on the front window of our house. They started begging us for more money?!?!

Then the siding on one section of the house wasn’t level — and it was obvious. They put the handles on incorrectly on our front door — and the locks didn’t really work. They even chipped a piece off of the trim on the new front door. They called it a thousand dollar door — though at Home Depot, they run around $300. Either way, they didn’t hang our door correctly.

At that point I just wanted them out of our house, I didn’t care. I’d go out and buy another $1000 door just to make them go away.

In the end, the project was finally completed in October. Hardly a 2-week project. It was a 5 months of hell. Just thinking about it makes me angry.

Making matters worse, have you ever found it funny how all contractors like to take pride in how they clean up after themselves? This specific contractor still highlights that “feature” it in their ads in the weekly paper. Hmmmm… my yard still has 100’s of cigarette butts that I’m still picking up, not to mention thousands and thousands of nails that my lawnmower will surely choke on this year.

Roofing shingle fragments are everywhere, vinyl slivers, styrofoam insulation pebbles, just crap everywhere. And did I mention all of the indentations in the lawn from all of their driving around they did in our yard? No, I probably didn’t. They ruined our yard. Then littered all over it.

So what makes me bring all of this up today? Well, remember that basement plumbing problem I mentioned last week? The one where the plumbing company was coming out to give us an estimate on Tuesday?

Well, they came out and said that they call us with the estimate tomorrow. That “tomorrow” was 3 days ago now.

They haven’t called. And our house still smells like sewage.

Can you understand why I hate contractors now (or again)?

You’d think that after spending in excess of $40k on renovations that your house would be better off for it — but in reality, I’m not certain that it is…

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Gov’t Rebate CheckSo last night I went to the IRS website and played with their new “Where’s My Refund?” script.

As is common for the IRS website, in my experience, it crapped out and didn’t tell me anything.

Seems most government sites have this problem — you know, a nifty calculator or pay online option where you enter all of your information, click submit, wait a few seconds, and then get an Error 500 — Internal Server Error.

Anyway, last night, the “Where’s my Refund?” script said my SSN and number of exemptions from my 1040 didn’t match their records…

Um, hello? Yes they do — my 1040 is right in front of me.

Anyway, I was out of luck.

This morning, though, I find myself $1200 richer. Thanks America.

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May 2008 Net Worth Update

Well, April 2008 goes down as a pretty decent month for me financially. It was my first full month without a credit card balance which sounds like it should be a good thing, but in actuality, it kind of left me in a haze.

I didn’t really know where to send my money at the start of the month, made a couple bad decisions midway through, and I’ll be correcting them this month.

I also found that I wasn’t keeping track of my accounts as diligently as I had in the past. For months — years even — I’d routinely log into each bank’s website each morning to check on my balances. Now, with so many of them just reading $0, I’ve lost interest. That’s not a good thing.

But the numbers don’t lie…

While not falling as aggressively as in the past, I still managed to knock another $1722 from my debts. In the coming months, I’ll begin to focus a lot more on the auto loan rather than the mortgage so as to free up more money each month (which will then just go towards the mortgage).

See, the mortgage payment isn’t about to change but by eliminating the auto loan, I can relieve myself of a $289 minimum payment each month.

On the assets end of things, though the total went dipped into the negative, everything that I can control was a plus. I’ve worked my checking account back up to $2000 and I’d replenished my savings account back up to $1000. Combined, that’s within $50 of where I started off the year (except now I’m not carrying $8k+ in credit card debt).

The markets were kind this month — my 401k balance jumped over 6% and I reached, then surpassed, my all time high.

The value of my house, however, dropped quite a bit. Maybe it’s the media’s housing crisis finally catching on in my neck of the woods and, honestly, even if it is, it doesn’t bother me in the slightest — I’m not looking to sell anytime soon anyway. I’m also not about to just stop paying the mortgage either.

The trade-in value of automobiles also dropped significantly this month, with my daily driver seeing a double digit percentage drop. I suspect that has a little to do with me surpassing the magic 30k mile mark. That’s okay though. As long as both vehicles are running just fine and I still owe less than they’re worth, it’s not something to worry about.

With the added padding of the Tax Stimulus check in May, I can’t imagine I’ll take a turn for the worse in the coming month…

Can You Dig It?

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