Who doesn’t want their appliance repairs free?

Who doesn’t want their appliance repairs free?

By Keith Bunn Jr.

June 24, 2012

Good Deal?

A few weeks ago, we received two pieces of mail from two local utility companies offering us maintenance plans that would fix our appliances and/or heating and cooling systems for a low monthly price. Our appliances would be fixed by a reliable service person with No trip charges, No service call fees, No deductibles and if our appliance can’t be fixed the utility company will give us cash to go towards replacing the item. Sounds like a really good deal doesn’t it? It’s almost like getting your appliances repaired for free.

Don’t fall for it

Folks, don’t fall for these repair “insurance” gimmicks! These type of repairs or replacements should be “self-insured” by your emergency fund. No matter which way you look at it, paying the utility companies or putting money off to the side for emergencies, you’re still paying for the repairs, the service call, labor costs, etc… In fact, you would actually be saving money by using your emergency fund instead paying the monthly fee to the utility companies.

No free money

Let’s say you owned the utility company and you offered one of these maintenance plans. In order for you to make a profit, you would have to charge your customers more money over the cost of paying your service people their hourly wage, gas for your vehicles,  labor, etc…

One company offered us a $30 dollar check if we signed up for their plan. The other offered us a $200 discount card with selected plans. Now no business in their right mind is going to offer anyone free money if they didn’t already figure out how they were going to get that money back plus some.

So please don’t fall for this. You are far better to save for those rainy days yourself.

I hope my posts inspire you to look at what you’re doing financially and because of it; make some changes that will cause you to win financially. I also look forward to reading your views on any articles or postings that I may post. For more money news, facts and ideas follow me on Facebook, or Twitter. Thanks you!

True Story

True Story

By Keith Bunn Jr.

June 17, 2012

Just about a year ago now, I was at a pizza joint with some old high school classmates. One of the women I graduated with asked me what I do for a living now. I told her that my full time job was a C.N.C. operator for a local manufacture and that I’m also a financial coach on the side. Forgetting all about my “Day” job, she responded, “Financial coach, what made you become that?” My answer to her was easy, “Because I needed one.”

You see my quest to help others with their financial messes stemmed from trying to clean up our own. I knew we needed to do something but I didn’t have a clue what to do or even how to start. Julie and I never talked about it until the pressure and stress was so great she would just break down in tears.

My last straw was years ago when my mom was back in the hospital for another aneurism emergency. This time it was bad enough that it couldn’t be repaired in our local hospital and she would have to fly to Chicago to be treated by a specialist. Right away, my siblings and dad started to make plans to go and stay in Chicago until my mom’s surgery was done and doing ok. Seeing what was going on Julie pulled me to the side and told me that we only had $60 in our accounts. As if things weren’t stressful enough, now we had to deal with a financial issue on top of it. I told Julie that there was no way that I could take our last $60 and go to Chicago. Just then, my brother came up to us and asked if I was going. Embarrassed, I told him no and then I told him why. After talking it over with his now ex-wife, they told me that I could stay with them in their room and sleep on a roll away bed. Still embarrassed and prideful, I resisted their offer. But with constant pleading from all the family members that I had to go, I took my brother’s offer and went.

But I have to tell you, because of my financial situation, I felt I had no say in any kind of decision making while I was there, I felt totally useless. On top of that, I only took a small portion of the $60 for food. I went without meals to make the money stretch for the whole time I was there. My family has no idea how I felt back then. In fact, I think this is the first time I’m really talking about it. The good news is that my mom got threw the surgery with flying colors.

I just wanted to share this story with you to let you know you’re not alone if you are having financial issues. You’re not the only one who’s had embarrassing moments because of money problems, we’ve all had them! The good news is, is that this is a problem that can be fixed, it’s not going to be easy and it’s going to take some time but it can be fixed. Maybe all you have to do is read a book or two. Maybe you need help figuring it out, whatever it takes, get in the business of doing it. Just sitting in your mess and thinking that it will change is the definition of insanity.

I hope my posts inspire you to look at what you’re doing financially and because of it; make some changes that will cause you to win financially. I also look forward to reading your views on any articles or postings that I may post. For more money news, facts and ideas, follow me on Facebook, or Twitter. Thanks you!

Thinking outside the Box

Thinking outside the Box

By Keith Bunn Jr.

June 10, 2012

I've mentioned it many times in past blogs, on Facebook, and Twitter that getting extra jobs are a great way to earn extra cash to pay down debts, save for some future wants, or in the case of what I’d like to talk about this week, saving to pay for college.

With student loan debt now exceeding credit card debt in this country, students and parents really need to look for alternative ways to pay for college other than just signing their names on the dotted line at the bottom of a student loan application.

In the book, Debt-Free U: How I Paid for an Outstanding College Education Without Loans, Scholarships, or Mooching off My Parents, by Zac Bissonnete. Zac tells his story of how all through high school he worked doing all kinds of odd jobs. By the time he graduated, he had saved $40,000 for his four years of college. Dave Ramsey has told a story many times about some young guys renting a power washer and going door to door asking home owners if they wanted their driveways power washed and sealed. They had earned enough money to pay for their next year of college. I heard another story just the other night about this guy who went on Craig’s List, found used, free, furniture that needed repairs, repaired them and then sold them on Craig’s List. He also walked along busy roads and collected recyclables and turned them in. In one year, he earned $4,200. I know that, that’s doesn't sound like a lot of money, but if he did that on the side, on his days off from a part time job… you get the picture.

The truth is, none of those things I mentioned above are easier than signing your name at the bottom of a loan application, but neither is working your tail off trying to pay back the student loans you took out during your college days. The myth that student loans are “Good” debt because it is to pay for your higher education, which in turn will get you the better job to pay off your student loans, is a bunch of bull! There is no such thing as good debt. Debt is debt, no matter how you label it. So don’t fall for that crap. The question is, if you’re planning on going to college and you’re not sure how you’re going to pay for it, what can you do to earn some extra money to go towards college? Think outside the box of how normal people pay for college and you’ll be way ahead of the game.

 I hope my posts inspire you to look at what you’re doing financially and because of it; possibly make some changes that will cause you to win financially. I also look forward to reading your views on any articles or postings that I may post. For more money facts and ideas, follow me on Facebook, or Twitter. Thanks you! 

Dogs and Cats

Dogs and Cats

By Keith Bunn Jr.

June 3, 2012

For this week’s blog, I asked my daughter what should be my topic this week. She replied, “Cats”. Now I know in a sarcastic, Bunn sort of way, she was giving me a hard time. She knows I don’t like cats and I’m sure I get on her nerves a little talking to her about this money stuff. I asked her, “How do finances and cats fit together?” That was when my wife chimed in. She said, “What about talking about saving for pet emergencies?” So that’s what we’ll talk about this week…

We all know, pets get sick, suffer from allergies, or even get injured from time to time. That’s just how life works and if you don’t have money stashed away for these types of things, it could put a real dent in your finances. Just take what you think you pay over a year’s time for pet care and divide that by 12. Your answer is how much you should be putting away each month for their care. Now I know they have insurance out there to help pay for your pet’s visit to the vet, but it is my opinion that this is something you should self-insure through. A lot of people label “Pet Care” as part of their overall emergency fund. It is really up to you. We have 3 dogs and we just started a separate fund just for them. This fund can be used for trips to the vet or to the groomers. Their food, treats, or toys still fall under our “food” or groceries funding.

American’s spend thousands of dollars each year on their pets, and there’s nothing wrong with that, but we all need to do it wisely. The point is, you can fund this any way you want to. You just need to fund it. It’s good for your finances and your pets’ overall health and welfare.

I hope my posts inspire you to look at what you’re doing financially and because of it; possibly make some changes that will cause you to win financially. I also look forward to reading your views on any articles or postings that I may post. For more money facts and ideas, follow me on Facebook, or Twitter. Thanks you! http://www.facebook.com/pages/Cavus-Financial-Coaching/120347681380181 , and https://twitter.com/#!/Cavuscoaching .