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About 2squared

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    Turd Nugget in Training

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    On the cold prairie near Laura Ingalls

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  1. Definitely these. I also tell our drivers that driving is a privilege. We pay for that privilege - vehicles, gas, and insurance. In return they are expected to chauffeur their siblings and run errands for me without complaint. They are expected to have gainful employment which they are to use for their personal expenses. We cover all the same expenses as before, but they cover their increased socialization costs. My kids work during the summer and use those earnings throughout the school year.
  2. No. Cash is king, especially in this economy. You will have many out of pocket or unexpected expense related to buying and selling. I would keep cash for those items. is your emergency fund fully funded? If not, I would stock cash for your emergency fund. if your emergency fund is fully funded, will you have 20% down to avoid PMI?
  3. If you can’t afford to carry two mortgages indefinitely, I would not do this with a bridge loan. I also wouldn’t buy without first selling or without a contingency to sell. The economy is bad and getting worse. I would mitigate any financial exposure, especially with large assets. We have sold our current house and rolled the proceeds into our next house. Depending on the situation, we either rented in between buying and selling or made our purchase contingent on the sale of the previous house. if you aren’t aware of your options, I strongly encourage you to contact a mortgage broker or even your local bank. I wouldn’t enter this situation, in this economy, without strong financial education.
  4. When we added our oldest as an authorized user, I had considered opening a new account that only she would then use. If you want to track the kids’ spending, you could go that route. I decided I preferred to have fewer cards, accounts, and payments to manage, so they were added to our existing cards I consider most of my high school kids’ driving to be my responsibility. Before they were able to drive themselves, I drove them to work, school, activities, friends, etc. They are doing the same driving (although fewer miles since I’m not driving round trip x2 anymore) plus errands and sibling chauffeuring, so I am covering all their gas. Our gas bill has gone down. 🙂 I think once dd leaves for college, she will pay her own gas, but I will give her cash when she comes home to encourage her to make the trip. I want to build good habits early, lol. I didn’t find our teen boy to be as expensive as I expected. He’s about $90/month, and that’s with full coverage on a 2010 sedan. My 18yo dd is $90/month on a 2013 Chevy Equinox, so they are nearly the same cost. I just dropped full coverage on ds’s vehicle yesterday, so I expect his amount to decrease a little. We have our two teen drivers as primary drivers on our two oldest vehicles.
  5. I agree. My kids have debit cards, checking accounts, employment, and years of managing their personal money before they are added to our credit cards at 16yo. We add them because they are financially responsible and trustworthy. If they weren’t financially responsible or trustworthy, we wouldn’t have gone this route. We pay for insurance, gas, vehicles, cell phones, etc while they are in high school. Them driving saves gas versus us driving them around, and it’s a lot more convenient to have them drive. My oldest is heading to college in the fall, and I plan on passing her clothing and gas bills to her then. I’ll probably give her gas money when she visits to encourage her coming home.
  6. If my teen used my credit card on authorized items, then they will be banned from the card and they would reimburse me. This hasn’t happened yet, but that is what I tell the will happen. We have never carried a balance on a credit card, and we definitely wouldn’t in this case either. My teens use my credit card to buy things I pay for. They use their own credit/debit cards for their personal expenses. They frequently run errands and buy items for the household. I should say my pre-18yo teens use my credit card for their personal online purchases and then they transfer cash to me. We don’t use debit cards for online purchases, as a matter of financial security.
  7. A credit card is a means of payment, nothing more. Some people may prefer to reimburse their teen for expenses, and that works for them. The same money is spent regardless of payment method. My teens are authorized users on my credit cards purely for my convenience. I have no care if it helps build their credit or not. They will do that on their own. If they do get a boost from being on my card, I guess that’s an unintended positive outcome. My teens definitely consult with me when they spend large sums of my money, but just as often I am telling them to spend. The means of payment (their debit/credit vs my debit/credit) is, once again, purely for my convenience. If my teen overspent in his/her credit card, I wouldn’t bail them out (hypothetical at this point because they haven’t overspent yet). That would deprive them of a valuable life lesson. Having them as authorized users on my credit card is not related to their spending limits at all they are responsible for monitoring their spending of their personal money. My teens do not have overdraft protection either, for the same reason you state. I want them to have the natural boundary of only spending what is in their checking account.
  8. Kids have to be 18yo to get their own credit card, and then when they are 18yo, the credit limit is very low. My kids start driving at 16yo, so that’s when we add them as authorized users. My younger teens/preteens take my credit card when they are out and about without me. I think my 18yo has $150 credit limit on her card. i have no desire to transfer money or have them split their credit card bill between things I pay for and things they pay for. It’s much easier for them to just use my credit card.
  9. I should add that my teens have their own debit cards which they use to pay their expenses. They use my credit card to pay for my expenses.
  10. Our teens are authorized users on our credit cards. They use the credit cards for everything, and it’s been heavenly. They run errands for me all the time, and the convenience of not tracking and transferring money has been awesome. For example, if they are out an about, I can have them stop by the store for milk without a second thought We pay for everything - gas, insurance, repairs, vehicle. The vehicle is as much for my convenience as it is for their convenience. When they start driving. I save a lot of time and gas money not saving to drive them around anymore, and they also drive their siblings around. I am pleased to foot the bill in exchange for the added convenience, and I am very glad my five kids are two years apart. I should always have a teen driver until my youngest graduates.
  11. Treating male and female employees differently is sexist. Doesn’t matter if no one knows or it’s for a religious belief or if it’s to make a spouse feel better. It’s sexist. I have seven direct reports. If I meet with my male employees in glass conference rooms but my females employees in my office, that is treating them differently. If I have a rule I’d never be alone with my male employees but I would with my female employees, that is treating them differently. I would be extremely disappointed with myself if I didn’t treat my employees exactly the same. I never think, this person is male, so xyz treatment is needed. Either I meet with everyone in the glass conference room, or I meet with none of them there. In fact, I would feel terrible if an employee figured it out - My boss meets with me in xyz room, but she meets with the rest of the team in her office. It’s bound to be noticed at some point, and then I would have set up our company for adverse actions. You could extend the same thought to age or race. If I have a personal rule to to never meet alone with my employees > 60 years old but I can with younger employees, that’s wrong. If I have a personal rule to never meet alone with my Native American employees but I can with my Caucasian employees, that’s wrong. I am very surprised people cannot see sexism in this Billy Graham rule, but maybe I shouldn’t be surprised? I expect this inherent bias happens more often than I realize.
  12. I live by the concept posted above, but I detest the Billy Graham rule. I think the Graham rule does nothing but hurt and demean women. I can’t imagine not meeting with men 1:1 in a work setting. Not only would I not be able to be successful in my role, but my male coworkers wouldn’t be successful either. Not to mention, treating a males differently than females is illegal. But, anyway, I think the way to live out the philosophy above is to mitigate the impact of bad scenarios, not to focus on eliminating the bad scenarios. For instance, how to mitigate the impact of a marriage ending. What do I do? I make sure I can support myself and my kids, know our financial resources, and am capable to live independently if I ever need to. Marriages can end for so many reasons. Living the philosophy means I am set up to recover from my marriage ending or my spouse being disabled or dying.
  13. Exactly this. I have a high school wrestler who will be a junior this year. He was a top ranked wrestler in our state last year as a sophomore. College coaches have started calling. He will be absolutely devastated if he can’t wrestle this year. He’s also a straight-A student vying for valedictorian and plays football and baseball. But....his passion is wrestling and he wants/needs to compete for himself. He’s lifting, running, and eating to get his body ready for a wrestling season that should be six months away but is likely to not happen. I want him to be safe and healthy, but wrestling has been our mental health and sensory therapy for him for nearly a decade. I would love to see a compromise where athletes can compete, with the competitions streamed online rather than have live audiences. Viewing could be subscription based so the programs would still earn revenue.
  14. We just rented a beach house with private access to the beach on Tybee Island, GA. Four bedrooms, sleeps 10, one full bathroom + four sinks + two outdoor showers). One week = $3500 We saw prices more expensive for much fancier accommodations. Many places were already booked, and I assume they were cheaper for similar accommodations. I would think you would need a huge house for six families....and a lot of bathrooms. If each family comes with two kids, that’s 24 people. That will be expensive if you stay in one house. Could you find a place where you rent condos in the same complex? That would be my preferred approach.
  15. We don’t have middle of the night sheet issues, no bloody noses and no water in the bedroom. When we are sick, we take vomit buckets to bed with us. If someone missed their bucket, we would put the sick kid in our bed, throw the sheets in the laundry, and have a parent sleep in the sick kid bed on top of one of our many quilts. I can’t remember the last time that would have happened. My bedwetters have always slept through the night, and then we washed their sheets the next morning. I personally just don’t want to store sheets that we don’t need. I already have a ton of blankets and quilts! Sounds like our new closet is the best option. Our other closets are taken already as nearly everyone shares a bedroom, and we don’t use dressers (two in use for seven people). Areas under the bed are used for storage since the closets are full of clothes. Thanks!
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