Monday, March 23, 2015

Getting Ready for State Vehicle Inspection

I used to dread getting my car inspected.  I would hold my breath wondering if I needed brakes or worse.  Even though I would take my cars to a trustworthy local shop, the stress of the unknown was unbearable.  Then I figured out what they look at and how to prepare my car to pass an inspection with flying colors.  It was not the cost of the repair, rather the feeling that I was not in control.  Now that we buy late model used cars, knowing the ins and outs of the inspection process is essential.  Plus, the state inspections are a good thing.  They make sure the car is safe for me, my family and other motorists and ensure it is operating efficiently.

My 2009 Pontiac Vibe is up for inspection at the end of the month.  It is a good idea to understand your state's vehicle inspection requirements before you take your car to your neighborhood mechanic.  In New York, our yearly NYS Inspection checks the following:

  • Seat Belts
  • Brakes
  • Steering, Front End, Suspension, Chassis, Frame and Wheel Fasteners
  • Tires
  • Lights
  • Windshield and Wipers
  • Horn
  • Mirrors
  • Emissions via On-Board Diagnostics Generation II (OBDII)

 I recommend going through each section and run through a mock inspection.  Your state's DMV certainly has a page that details the requirements.   It is a good idea to check all of the basics: seat belts, lights, wiper, horn, mirror, etc.  You can avoid over paying for these items with some due diligence.  Make sure they work!  Last thing you want is a set of $50 wiper blades (installed).

 Next, check your tires.  All you need is couple of coins.  NYS requires 2/32 inch tread.  Guess what, if Honest Ab's head is covered, you pass.  Tirerack has a great article on Measuring Tire Tread Depth with a Coin.

 Ok, we have eliminated the low fruit.  We will need a few tools to eliminate to other items.  They are in your trunk; your jack and lug wrench.  Start with one of the front wheels.  While jacked up (don't loosen the lugs!), put your hands at 3 and 9 and wiggle the wheel.  There should not be any movement.  If there is movement, you might have a suspension problem.  If it is tight, you are probably all set.

Next up Brakes.  Do you hear metal on metal, grinding, vibration in the pedal when braking?  These are good signs you need brakes immediately.  If you are not experiencing these noises, I suggest taking one front wheel and one back wheel off to inspect the brakes.

Hint: Lower the car down, loosen the lugs while it is on the ground and then jack it back up.  Remember to engage the parking brake and use something the chock the tires.

With the wheel off, inspect the brake pads.  You should see at least 1/4 inch of brake pad between the rotor and metal backing.  If you don't, it is probably time to replace them, they will not pass an inspection.

Finally, emissions.  Each state is different, some more strict than others.  NYS uses the car's computer to check the status of the car's systems.  The test goes through OBDII to see if any systems triggered the "check engine light".  If you have not seen it turn on, you are pretty safe.  If the "check engine light" light is on or has come on in the last couple of months, take it to your local AutoZone or Advance Auto.  They will read the diagnostic information from your car's computer and let you know what triggered the alert.

That's it!  No more stressing over your next vehicle inspection.  If something does not check out from your mock inspection, you can fix it or have it fixed prior to the real inspection.  Don't wait until the last minute.  Begin your pre-checks at the beginning of the month your inspection is due.  Procrastinating will cost you money, take control of your car, take control of your life!



Photo credit: gagilas / Foter / CC BY-SA

Sunday, March 22, 2015

What we are eating this week

Here is this week's line up for dinners! 




Tuesday: Tacos

Wednesday: Dinner at Grandma and Grandpa's

Thursday:  Sweet and Sour Chicken and Rice and Broccoli 

Friday: Sweet Potato Burgers kids eat Taco Noodles (my homemade version of Hamburger Helper for the kids)

Saturday: Fiesta Nachos!

Sunday: Leftovers

Saturday, March 21, 2015

Savers thrifting haul - big clothing score!

So while we were all out today I decided that we should run into my favorite place in the world, Savers to see if there were any deals to be had.  Savers is always busy on the weekends but they usually have a lot of merchandise out and I tend to find the best deals there on the weekend.  The kids were less than thrilled but they never are happy to go into that store with me so I was not at all surprised by the dark clouds that passed over their little faces when we turned into the parking lot.  I assured them not to worry since their father was with us and my browsing time would be limited. 

Today I got the boys a few pairs of shorts and tops for the spring/summer season.  I highly suspect that they will have grown out of most of their clothes from last year so I am starting to gather now.  I was thrilled to find what I did for them.  Each pair of shorts was less than $3 and the tank tops were $.99 each.  Definitely worth the stop alone. 


I have got to share the best deal of the day, perhaps ever for me, at Savers.  I got this pair of Lululemon capri length active bottoms.  They were just hanging there on the rack next to the old and worn and tattered active bottoms.  Best of all was the price, $3!!!!!  These bottoms are priced at $80 retail.  Clearly, the person who was pricing the donations before they were put out on the floor saw that there was no label and did not recognize the Lululemon insignia on the pant leg.  If they had known the price would have been more like $13, which would still have been a great deal but not nearly as braggable as $3.  We left right after I found these pants.  I felt fulfilled and I am still glowing from my find!

 
All of the items I purchased today cost less than $20.  All were in like-new condition, aside from the Nike "swagger" t-shirt that my son just had to have.  I actually wish it came in my size.  Even that shirt was in decent shape aside from slight fading of the fabric.    I do not even think that the tank tops and plain black tee I got for the boys were ever worn due to the creasing and feel of the fabric.  It is going to be hard to top this trip!!! 

Sunday, March 15, 2015

Fixing A Heat Shield on a Car

Learning to fix your own car can save you hundreds, even thousands of dollars over a lifetime.  Many repairs are simple while others are more complex and require specialized tools.  A vast majority of repairs and routine maintenance are not difficult, but do require some research and most of all confidence.

I did not grow up working on cars.  My dad is a real renaissance man and a jack of many trades.  He is a regular McGuyver and can really think outside the box to fix just about anything.  He taught me a great deal and has given me the confidence to tackle just about anything.  Since we have been home owners, his expertise has saved us thousands of dollars and bailed us out of several predicaments.  Even though he is very mechanical, he never really got into cars.  Cars were foreign to me.

I started working on cars when I bought my Alfa Romeo a few years back.  I knew owning a 30 year old, Italian roadster would be a challenge.  With the Internet, there is so much assistance available.  You can hop on a forum or watch a YouTube video on just about any procedure.  These guys have forgotten more about cars than I will ever know.  Being a novice the most difficult thing is the diagnosis of a problem.  Google is your friend, put in the model of the car and the symptoms.  You will eventually find the answer.

Let's start with something simple.  This winter has been long, cold and snowy here in Buffalo.  The roads are in rough shape and with the snow being so deep, it took its toll on the heat shields on both of our cars.  Heat shields are thin pieces of aluminum that sit between the exhaust and the car body.  The tell tail signs of a heat shield being loose is a rattling noise that sounds like firecrackers in a tin can.  It can sometime happen all the time, sometimes when you first start up, or at a certain speed.  Typically what happens is the metal wears with time around the bolts that hold them in place.  Then the bolts are no longer holding the aluminum tight to the body.  The heat shield can also crack completely.  Both are easy to fix!

The first type, where the aluminum pulled through the bolt and washer is a pretty easy fix.  You have two options:  1.) Buy some washers big enough to take up the space, or 2.) use some scrap aluminum duct work to make your own washer.  For option 2, just use some tin snips to cut out a square bigger than the hole that pulled through the aluminum.  It does not have to be exact or pretty, no one will ever see except you and the your oil change guy (who you will never visit again after reading this blog).  Then drill a 3/8" or so hole through the aluminum square.  I use a 3/8" spade bit.  Tip: If using the spade bit, punch a small hole as a guide.  Then take off the bolt where it pulled through and use your aluminum square as a washer.

The second type of repair is when the aluminum actually cracks, partially or completely.  For type 2, I needed to go and buy a pop rivet gun.  I have borrowed my Dad's in the past and it always comes in handy.  It was time I bite the bullet and invest in one.  The one I purchased was $18 at Lowes.  The one I bought was the Arrow Rivet Tool Kit.   It came with the pop rivet gun, carrying case and some rivets, though a larger size than I needed.  Harbor Freight has several models to choose from that will save you a few bucks.

The first step is to make some templates for the parts that you need to repair.  In my case, I had damaged areas as denoted with the red arrows.  I needed to model the upper left damage using the bottom left as a template.  For the other two cracks, I just kind of winged it.  Once you have the shapes, use tin snips to cut out the proper shape.  I already had tin snips, so I did not have to buy a pair, you can find a pair at Harbor Freight for $6.  Then, drill holes about the size of the rivet.  They expand when you pop them in.  Once you have the holes through the new piece of aluminum and the broken piece, just keep pumping the rivet gun until it pops.  It is a wonderful tool.  


This was a pretty easy fix, but I did have to buy some tools.  The great thing about tools, is that they pay dividends every time you use them.  

Did I save any money?  The replacement parts for the Subaru was $38 and for the Vibe $45.    $18 invested, $65 saved.

Once you gain confidence with repairs like this, you will work yourself up to brakes, belts, oil changes, etc.  Each saving you money and building your confidence to take on larger repairs.





How I worked out today: Insanity Max 30: Friday Night Fight Round 2

And to think I thought I saw it all by now....

Max 30: Friday Night Fight Round 2 was inTENSE.  There was sweat.  A lot of sweat.  There was swearing and there was cardio.  There was a lot of effing cardio. 

Good news, I finished it.  Today was my intended "rest day" but with my schedule this week I knew that a rest day would be needed later on so I bit the bullet.  It was a big bullet to bite I might add.

The bad news - Shaun T is actually insane.  The water breaks in Month 2 are less frequent and the moves are intense.  I am pretty sure each exercise is done for a minute but I can't be sure.  It feels like an eternity so a minute seems about right. 

Friday Night Fight Round 2 has Shaun T barking orders... sorry.... leading you through a series of exercises that last for about a minute each.  No exercises repeat themselves, which I found refreshing.  When an exercise was done, it was done.  Not knowing what was coming next was ignorant bliss.  I liked that veil of ignorance while it lasted.  The moves were a compilation of all of the exercises that  we did during the week all mushed together.  It was bad but I didn't hate it.  This fact means one of two things, I am crazy exhausted and hallucinating OR I may just be getting stronger.  I do feel stronger and leaner and better in general since adding in Max 30 to my exercise routine.  I am regularly more sore too, I might add.

So I give Friday Night Fight Round 2, 4 out of 5 water bottles.  Mostly for the amount of sweat it produced from my brow. 


Saturday, March 14, 2015

That's it, we are moving

I want to move.  Badly.

We have a gorgeous home now.  It is big.  Four bedrooms for my family of four and two and a half bathrooms. It has a finished basement, dining room, family room, kitchen, a "bonus" room.  Over the seven years we have lived here we have made it "ours" with paint and renovations, furniture and "nick knacks".  It really is  our "dream" home.....and I cannot wait to sell it. 

Few people know of our house hunting and plans to downsize as of this moment in time.  Few people would really understand what we are trying to gain for our family by trimming the fat.  Everywhere it is understood that bigger is better.  Bigger and "more" equates to financial success.  Having it all leads to happiness and freedom.  In this short time of financial "clarity" that we have experienced, a lot has come into focus.  The blurred images of what true wealth means to our family has sharpened themselves.  I no longer see the things that I once yearned for, saved for.  The pricey clothes, the decor, the cars and the furniture.  Instead I see my kids, my boys, outside in the woods, most likely by a creek somewhere with fishing poles in hand.  Mike is running up ahead with them and I am lagging behind a little (okay a lot) with the dog's leash in one hand and a cooler full of an overestimated amount of snacks, drinks and "just in case" items that the gang may need.  This is my happy.  So how do I get this all the time?  How do I take our current stable, suburban life that we thought we wanted 7+ years ago and transform it into THE DREAM?  We sell.  We sell the concrete and drywall box that is full of our stuff that we have collected over the years and we trade it in for a mortgage-less, smaller concrete and drywall box and we fill that with our (downsized) pile of stuff that we have collected over the years.  It is just a house.  It is just stuff.  My clear picture has us living mortgage free and that much closer to freedom for Mike (whatever he decides that that freedom means to him).  I am willing to give it all up for "Future Steph".  Future Steph has the clearest, sharpest picture of what happy is and it includes less bathrooms to clean and clutter to organize. 

The house hunting has officially begun over the past couple of weeks.  I have unintentionally memorized every home on the market in our area.  We have toured two local homes and are scheduled to see at least two (maybe three) open houses tomorrow.  As it seems to be the case most times, dealing with all of this "clarity" is difficult with the kids in the picture.  They are school-aged and are settling into their identities, sort of.  At 9 and 10 years old, my boys are each others best friends.  We tend to stick together more as a family in general than we are to reach out to friends and clubs or teams for support and validation.  We play sports but we do it for the team experience and fun of the sport.  We are not die hard any thing's in that light.  My kids love music.  They are really talented musicians.  J plays bass clarinet and was in the All County Music Festival recently and C seems to be following not far behind in his footsteps.  They seem to be attached to the music program in our current school district, especially J.  I get it.  C has one more year in his current school where he is looking forward to being a big Fifth Grader and experience all of the privileges that he has watched J experience this year.  So we are currently focusing our home search in our current school district, more specifically in the area that would allow for C to remain in his elementary school for next year.  This limits us A LOT.  I have found countless homes in our district, but not in our elementary school area that I just love and would be a perfect downsize for us.  The homes thus far in our immediate area are either too much (space, money, upkeep) or less money but  just need too much work or are not big enough for a family of 4.

It is a constant inner battle for me trying to decide what is the better path.  Rip my kid(s) from their safe place and drop them in a new environment in which I am sure they would (eventually) adjust to just fine, or do we wait it out.  Wait the year, deal with what we have until we can get what we want with less disruption to the kids lives.    I am not sure right now.  If a home I absolutely loved were to pop up a town over I don't know what I would do. 

I look forward to wandering through strangers homes tomorrow though.  That is always fun.  No one ever gives you a green light to go through medicine cabinets and drawers except for Open Houses.  Then it is not only excused, it is expected.  Here is to finding unusual things in peoples drawers. 

Friday, March 13, 2015

How I Worked Out Today: Insanity Max: Max Out Sweat

And SWEAT is what we did!

First week of Month 2 of Insanity Max.  Mike has been plugging away more diligently with the calendar than I have this week.  My Monday Bootcamp class started up this week which takes the place of my workout that day.  I also have Tuesday and Thursday classes so today was the first time I was able to "dig deep" and experience the intensity of the workouts in  Month 2.  Mike warned me  it was a step up and I have to agree.  I was expecting to curse and complain and yell at Shaun T. like I usually do.  This time I did not.  I was unable to speak mostly.  Breathless.  Sweat dripping into my mouth.  I wasn't mute but I definitely was less verbal than I have been during workouts in the past.  Even Mike noticed.

In Max Out Sweat, Shaun T. gets you pumped up by telling you how nervous he is about this workout and "what is about to happen to you".  Super motivational.  He then leads you through a series of three exercises, three times through for a total of 6 minutes before you are allowed a 30 second water break.  There were a few sets of pushup-type exercises but for the most part it was all cardio and a good old- fashioned sweatfest.

I liked it a lot.  I found the intervals tough to get through at times.  I look forward to....  Nope.  Wrong choice of words.  I am curious as to how I will do when I attempt this workout again next week.

I give Insanity Max: Max Out Sweat 5 out 5 waterbottles


Investing in Index Funds and REITs: Tired of Paying for My Broker's Mercedes

My family has been investing with a broker decades.  My Great Aunt began investing at an early age.  She was a secretary and never made a ton of money, but died with enough money to pay for several years in assisted living without ever touching her principle.  My Great Aunt invested with a broker she trusted.  And it seemed like the broker did a pretty good job with her money.

My parents are still invested with this company even though it has been bought by Wachovia and then Well Fargo.  My parents began my investment career when I was in first grade.  They invested money that was gifted to me after my grandma's passing.  Since then I have been managed by the same company that is now Wells Fargo.  Until last week!

If you have been reading past entries we have had a fiscal epiphany and have found several ways to save money.  #4 on that list was Vanguard.  After analyzing our holdings with Wells Fargo and reviewing the fees, I determined with the help of our broker that I was paying 1.5% in fees to Wells Fargo (Broker's Mercedes Fund) and on average 0.9% to a money manager (MM's Boat Fund).  I started to run the numbers, what does 2.4% mean to an investment of $100,000?

After 1 year, 2.4% puts $2,400 in the broker's & money manager's pocket.  Another way to say it, you are not compounding $2,400 in your own investments.  What does this mean with our conservative 7% annual return with compounding?  Let's assume the $100k does not go up and you just invest the fees, that works out to just over $35,000 over ten years.  It is even worse in reality your principle goes up which puts more money towards boats and Mercedes.  The other part that bothered me about this situation is they were putting in the same effort whether I had $50k, $100k, or $500k invested.  However, they would get paid more as our hard earned money accumulates.

I have subscribed to the idea of low cost index funds as touted by Jim Collins.  The numbers do not lie.  Yahoo! Finance just released an article Betting on benchmarks: Index trounces active said that over 1, 3, 5 and 10 years, less than 1 in 10 active managers outperform benchmarks.  I have not researched the percentage of brokers that beat the benchmarks, but intuitively the I would think the percentage would even less than the fund managers.

 Slow, simple and steady.  This is how I invested our withdrawal from Wells Fargo.  I put 75% toward VTSAX, a total market index fund and 25% in a REIT, 0.05% and 0.10% in fees, respectively.  Now, our money is being reinvested in us and not going toward a 2 week vacation in for my broker in Wai Ki Ki.


Photo credit: theqspeaks / Foter / CC BY-NC-SA

Friday, March 6, 2015

Using Excel to Estimate Your Future Investments

There are two Microsoft Excel functions that I have found invaluable in planning our future financial future.  The first function , FV() or Future Value outputs the future value of an investment based on periodic, constant payments and constant interest rates.  Meaning I have $10,000 to invest and I want to direct deposit $400 every month for the next 5 years and assume 7% interest, how much will I have?  The second function I use is POWER().  I use this one to understand the annualized return of an investment.  Think about FV() as looking into the future, and POWER() as analyzing the past.

Future Value Example

Lets look at FV() first using the example above.  You have $10,000 to invest in an index fund.  You also want to add $400 per month for the next 5 years.  We will assume our normal 7% rate of return.

 =FV(.07/12,60,-400,-10000,0)

 This investment will yield $42,813.41.

 The general syntax for FV() is FV(rate,nper,pmt,pv,type).

  • rate - interest rate (divide by 12 if the interest rate is per month)
  • nper - number of payment periods in years (or months if dividing interest rate by 12)
  • pmt - payment made each period (needs to be negative)
  • pv - present value (initial investment, needs to be negative)
  • type - 0 for payments at end of period, 1 for the beginning of the period.  (I usually use 0)

Power Example

Lets use the POWER() function to reverse our Future Investment example.  This one requires a little bit of math, but the basic structure is:

=POWER(Final Value/Initial Value, 1/Period)-1

More specifically =POWER(42813.41/10000,1/5)-1

Wait a second, this is 0.3376829 or about 33.77%.  Why didn't this work out to be 7%?  Oh yeah, we added $400 per month.  Be careful, this is your money we are slicing and dicing. 

Maybe we should use a different example.  Perhaps your house.  You bought it for $200,000 fifteen years ago.  You just sold it for $280,000.

=POWER(280000/200000,1/15)-1 or 0.02268496 or about 2.27% return.


  • to calculate a weekly expense compounded over ten years, multiply the price by 752
  • for a monthly expense, multiply by 173
Do they work?  Lets use an example of saving $100 per month, maybe from dropping cable.


=FV(0.07/12,120,-100,0,0) which yields $17,308.48
and if you divide $17,308.48 by 173 you get $100.05.  Pretty darn close!

Photo credit: SG2012 / Foter / CC BY