Tag Archives: interest

‘Deadbeat’ Dad Chronicles, Odd Jobs Part Two: The Costly, Though Well-Intentioned, Mistake

Today I’m not only continuing with the story of how I worked odd jobs in order to stay current on child support payments, I’m also going to share with you a certain non-frugal mistake, made in the past, that has brought me a lot of grief later.

There was a period in my life where I was conducting secret shops and also working at a labor hall at the same time. I’d get a check each day at the end of my shift. I’d cash the 60-80 dollar check, drive from my place in Pasadena, TX to Liberty, TX and put a bit of cash in my ex-wife’s hand. I did this because if I sent the money to the child support office it would take a lot longer for my ex to get the money and there were things my son needed right away. I’m sure non-custodial parents out there can relate. After giving my ex the in-person payment I’d fill my gas tank and eat off of what was left.

Did you catch the mistake? Here it is again: cash in my ex-wife’s hand. Ya see, at the time of my divorce my ex-wife and I were the happiest divorced couple I ever knew. We got along, talked, didn’t argue and even made each other laugh. I had heard of the horror stories but enjoyed not being one of them…yet.

Time went on and sure enough things changed. We became one of the horror stories you hear so much about and then I was hit with something I had heard of, but never imagined would happen to me. I started getting letters from the Attorney General’s office. They wanted to know when I’d be sending a payment. I explained the situation to the person on the other end of the phone line but they were less than sympathetic.

Cash Transactions

I had made a huge mistake by assuming cash payments directly to my ex-were okay. And now that she considered me less than a friend, I was always in danger of her choosing to go to the State and have them enforce payments. This is one of those times where I felt more than a little stupid.

Obviously, this was not a frugal decision. Just as with loans, back child support comes with a not-so-friendly attachment called interest!

Great...now I gotta play catch up

Great…now I gotta play catch up


Great, now I have to play catch up!

This is not a situation any of us want to be buried under. Just as purchasing a bigger home than one needs, using your credit card for a massive shopping spree or keeping up with the Jones’ can result in a dark, financial cloud hanging over one’s head, haunting you and suffocating your financial plans for the future, so can making poor decisions regarding child support payments.

My advice to anyone that is paying child support is to send every single penny through your state’s Child Support office.
tx-attorney-general

It’s the wiser, frugal decision because it will help avoid interest and your possible future arrest due to falling behind despite your best intentions.

In the next edition of the ‘Deadbeat’ Dad Chronicles I’ll share one of life’s unforeseen events that didn’t exactly help the situation at all.

BBM Interviews Melissa Dougherty: This Energetic Christian, Wife, Mother and Avid Minister to Jehovah’s Witnesses Gives Her Perspective on Money Matters

I met Mrs. Melissa Dougherty through a Facebook group dedicated to ministering to #Jehovah’s Witnesses and #LDS members. I always appreciated her attitude of tenderness and love for those we brought the Gospel to. I look up to her knowledge of the #Bible and what Jehovah’s Witnesses believe/preach. Her boldness was always a motivator and both her humbleness and passion for teaching are to be admired. Because of these, and other, attributes I decided I had to interview her on the topic of Personal #Finance.

Let’s dive right in!

BBM: Is the Bible One of your Financial #Education sources? Why or Why Not?

Melissa: Yes, but not like I want it to be. Mainly because I’m not really the breadwinner of our home, so though I have some control over finances, ultimately it’s in my hubby’s hands.

BBM: Do you believe that Small Business contributes positively to the Economy?

Melissa: Yes I do. They’re the ones that are going to help the country not become so monopolized, and give to the people. Not the corporations.

BBM: How do you manage your finances? Examples: Financial Adviser, checkbook register, a combination of tools or something else)

Melissa: A lot of math! We don’t ever really know what we’ll make every month, so we budget out our money by keeping a planner of bills and what’s spent

BBM: At What age did you begin to form a “financial freedom” mindset?

Melissa: I felt very good about saving and spending money around age 18.

20141219_090337

BBM: Why do you believe financial wisdom is important?

Melissa: Financial management is the cause of much stress! Knowing how to manage our money wisely can contribute to a much more fulfilling life.

Thanks very much to this amazing, Christian teacher for her time and honesty. I hope to feature her again in the future.

BBM Interviews Audrey Ostoyic

tmp_images-2120687457

Today’s interviewee is a wonderful lady I met through a Google+ group, Christians In Business. Mrs. Audrey Ostoyic is an upbeat, positive, social media strategist, mother, wife and Christian business owner. Through following Audrey’s posts, blog and YouTube videos, I’ve come to greatly respect and admire her. Due to this respect and admiration I asked to interview her concerning her perspective on personal finance.

I hope you find her answers as inspiring and encouraging as I did.

BBM: Is the Bible one of your financial education sources? Why or why not?

Audrey: The Bible is my ONLY financial education source. I have listened to Dave Ramsey before and he gives amazing tips on the ins and outs of debt and debt collection agencies that are relevant for today and that you don’t find in the Bible, however the Bible is it for me. If you think about it, if you read your Bible and follow it then you don’t need to worry about your credit score, debt or debt collection agencies calling you. I’ve never owned a credit card in my life and never will. My husband on the other hand has 2 but pays them off every month. The only debt my husband and I have together is our home and we are working on getting that debt erased. My motto has always been, “If I don’t have the cash to buy it then I don’t need it and if I need it then God will supply it according to His Word.”

BBM: Do you believe that small businesses contribute positively to the economy? If yes, how so?

Audrey: Absolutely! I believe that Small Businesses, for the most part, really care about, not only their customers, but also their employees. Every Small Business that I have had the pleasure of training in Social Media is more like a family than the larger corporations I’ve worked with. I’ve also noticed that small businesses take care of their employees by paying them more and giving more/better benefits. In this way small businesses are keeping employees longer, they (employees) are more loyal and they become invested in the business as much as the owners.

BBM: How do you manage your finances? (Examples: Financial adviser, spreadsheets, envelope system, checkbook register, a combination of tools, or something else)

Audrey: Well, I’m very blessed (or some might say not very smart) to have my husband take care of the finances. I am not a spender at all and have always thought about each purchase as to whether it is a need or a want. If there is something I do want I simply ask my husband if there is enough money and if he says yes, I go buy it, if he says no then I just don’t get it. 😉

BBM: At what age did you begin to form a “financial freedom mindset”?

Audrey: About two years ago when I turned 39 yrs. old (I guess I just gave my age away lol) Took a long time but it’s not only the “financial freedom mindset” as much as it is the “God’s got this” mindset. No matter what financially may be going on if I abide in Him and He abides in me then there is nothing that can touch my finances.

BBM: Why do you believe financial wisdom is important?

Audrey: I believe Financial Wisdom is so important because it allows us to be in a position for The Lord to use us whenever he needs to. For me every single penny that comes into my home is The Lord’s. When the Holy Spirit speaks to me to give, no matter how much it is I will do it in obedience. My husband and I have gone through some of the worst financial storms since we got married in 2001 and through it all we HAD to rely 100% on the Lord and he never failed us.

Amen Audrey! Thanks so much for agreeing to be interviewed and I really appreciate your openess and honesty.

I highly encourage BBM readers to follow Audrey Ostoyic on Google+ as well as her blog page, http://www.livinlyfemarketing.com

tmp_index(3)2132587181

Zero Christmas Presents Next Year

tmp_kid-happily-open-the-Christmas-gift-88999040

I’m guessing the title of this blog got your attention. How many of you can imagine a #Christmas without exchanging gifts? Does the idea bother you? Yes? Then you’re meant to read on.

Sadly, every year many people see the Christmas holiday approaching and their shoulders tighten. They remember last year’s task of figuring out what to buy everyone, long check out lines, the nervousness of hoping they chose the right gift, and so on and so on. Even before the biggest holiday of the year is actually here they’re already weighed down by unnecessary stress.
It’s really a shame.

I’ve heard on the news many times, “….burgular has stolen Christmas from another family”.

Stolen Christmas?

As a Christian, I have a problem with that phrase. Christmas is not something that can be stolen. It’s the celebration of Christ’s birth. Can you take that from anyone? Of course not. That’s the problem with the zombie-like, “must buy presents” mentality. We’re slaves to materialism!

How about we take the words of Christ to heart? Matthew 6:33 says, “Seek the Kingdom of God above all else, and live righteously, and he will give you everything you need”.

Two things are important here.

First, seek His Kingdom above all else. We need to ask ourselves, “Am I focused on His Kingdom above all else or are presents, people, candy canes, celebrations and lights in the first-place position in my heart?”

Be honest!

Second, notice the verse ends with “…and he will give you everything you need”. Christ didn’t say He’d supply a PS4, a new sports car or a Hawaiian vacation as a result of our dedication to seeking His Kingdom. God is telling us here that our needs are a higher priority to Him than our wants. Obviously, we should mirror His perspective- God first, needs second and then wants….maybe.

Picture a world where this was reality. Instead of long lines at retail stores we’d see those lines at the soup kitchens, waiting to help the needy. People would camp out in front of their Church waiting for Christmas service, not in front of Macey’s eager to get their hands on the latest name-brand purses. Families would not continue sinking deeper into credit card debt. They’d pay cash to buy a homeless family an entire wardrobe instead.

Man, I’d love to see this kind of economic prosperity in our country. Wouldn’t you?

I would love to see a world where Christmas isn’t a source of stress but tranquility, unselfish acts, and the celebration of Christ’s birth.

AD_93889_SANTAJESUS

The decision to go without buying presents at Christmas can affect your bottom line grately. Think of what you spent this Christmas season on gadgets, gifts, toys, clothes, wrapping paper, ribbons, fuel, time, etc. Now add that number your current bank account balance. Wouldn’t you rather that total be in your account right now in case something major rears its ugly head? Or you could put it towards paying off a credit card, paying on a loan or paying extra on the monthly rent at you apartment. That would be a Frugal Lifestyle decision that helps reduce stress and would eventually lead to financial Freedom.

A No-Presents Christmas also sets an example to the following generation. They’d understnad that God being born as a human baby is the resaon for Christmas. They’d learn to focus on the Ultimate Gift they’ve already been given, not the material gifts they’re expecting.

A no-presents Christmas is also a great way to weed out those “what did you bring me?” people. You know, the ones that are only interested in what they can squeeze out of you? We all have them in our lives. But, telling everyone that there will be zero Christmas presents next year will also expose the cream of the crop. Those who actually care about you will say things like, “Spending time with you is present enough”. Those are the ones you hang onto!

As 2013 comes to a close let’s start imagining a stress free, laid-back, relaxing, Christ-centered Christmas for 2014. After all, we’re celebrating HIS biryhday, right?

Prayerfully consider a “no-presents Christmas”.