Cash Money Life» Life

Life Is A Stradivarius Violin

Patrick — Tue, 07 Jul 2009 15:59:06 +0000

This is a guest article from FFB, who writes about personal finance and related topics at Free From Broke.

You’ve heard of Stradivarius violins haven’t you? There are instruments that were built in the 1700’s and are considered some of the greatest sounding violins in existence. These violins have been known to sell for millions of dollars as their beauty is virtually unmatched!

Why do I mention this? Because life is like a Stradivarius violin!

As wonderful as they are, collectors and musicians must be extremely careful when using a Stradivarius. As a musician uses the violin the risk wearing down the instrument over time. Care must also be taken in handling and transporting the instrument. There is also risk of it getting stolen. Think about it – If someone told you your car was worth $20 million you would become the most careful driver in the world! You probably wouldn’t even take the car out for a drive. (Work with me here, if I had a $20 million car I’d be selling it ASAP!).

And therein lies a problem – Use the instrument and you risk damaging it or devaluing it. There are only so many out there and to lose any would be a shame. Once one is gone it’s gone!

But in locking i away the world misses out on it’s true beauty – it’s sound! An instrument is meant to be played not stored away. What’s the point of an instrument if it isn’t heard?

So what does a collector do? He has to balance it’s use. Keep it stored away and bring it out for special use so the listeners remember how beautiful it is.

And this is where our lives and finances come into play – Balance.

We only get so much money coming into our lives. If we use up our income it’s gone. You have to work to earn more. So we save. But if all we do is save then what’s the point of the money? We miss out on a lot if the money is socked away and we live a Spartan life. We need to live and should enjoy what our work produces.

So what to do? We have a similar situation as the violin collector. We need to strike a balance. We need to save money for the future so we have it when we need it. At the same time we should spend and enjoy life now.

How do we accomplish that?

Always put away something for the future.
Figure out what you truly love and use your money for that. Ask yourself when you spend if what you’re buying is worth the work time it takes to earn.
Live but don’t waste. Strike a balance so you enjoy your life now but still put away enough to enjoy life later.

Just like a Stradivarius violin your life is beautiful and precious. You need to live but also balance your life and finances so you can enjoy life not just now but in your golden years as well!

~$~

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A Special Delivery

Patrick — Fri, 03 Jul 2009 19:09:40 +0000

My wife and I had a wonderful surprise last week. Our baby girl decided she was ready to enter the world – 5 weeks early. Baby Emma was just over 5lbs. She was born early, but the doctors and nurses gave her a clean bill of health. It has been an amazing experience to watch her grow and change over the last week. Time has passed so quickly!

Timing. The Friday before our daughter was born was my wife’s last day of work. We wanted to give my wife a month or more away from work to prepare for the transition to motherhood and becoming a stay at home mom. We spent that weekend cleaning the house and preparing for our girl. At the end of the weekend we asked ourselves what we still needed to do if our daughter came the next day. The only thing remaining on our list was packing the bags for the hospital and installing the car seat. We decided those could wait. It turns out you can pack an overnight bag in about 2 minutes when the baby is coming and an ambulance is on the way!

The labor experience. Late last Wednesday night my wife went into what she and the doctors thought was a false labor. They examined her and ran some labs, and decided she should go home and take it easy. 4 hours later my wife was in full blown labor. It happened so quickly that I needed to call an ambulance to pick her up for the 10 mile ride to the hospital. The guys from the fire department were the first responders and they were wonderful.

The same doctor was on call at the hospital. He took one look at my wife and said “you are going to deliver this baby tonight,” and Emma was born within the hour. We are still amazed at how quickly the labor went and how unexpected the timing was.

Babies are a lot of work. I know that is an understatement! To be honest, I have no idea where my time has gone. Over the last few days my wife and I have made a few trips to the hospital and clinic for checkups and made a couple trips to the grocery store and Babies R Us to pick up some last minute supplies. The rest of the time has been spent getting to know our daughter and trying to get caught up on sleep. Baby Emma has her days and nights mixed up and likes to play at night and sleep all day. Hopefully we can get her on a normal schedule in the near future.

A few random thoughts about being a new parent:

I have an amazing amount of love, respect, and admiration for my wife.
Having a baby is like falling in love all over again.
I have a new found respect for my parents and grandparents.
My life has been forever changed, and I love it.
I understand how every new parent can state his/her child is the most beautiful and precious thing ever – and mean it.
I can look at my baby girl all day and not notice time going by.
My Mom says my daughter looks like me, my mother-in-law says she looks like my wife, and I don’t know who she looks like. But she is beautiful.
We are thankful for our friends, family, and church members, who have been very supportive with phone calls, visits, and bringing meals.
My baby girl has 423 nicknames already – the most commonly used are Baby Pants, Baby Goat (she makes a little goat sound), and Eagle Eye Emma (she often looks at us and the world around her with one eye open and one eye closed).
The best recipe for a nap is a baseball game, a warm baby on your chest, and a recliner.
I’m constantly singing made up songs to my baby girl. I even find myself humming the tunes when she is away from me or sleeping.
I haven’t seen the hospital bill or ambulance bill, and right now I don’t care.
The book Baby Bargains has been invaluable for product ratings and suggestions.
I love our Boppy… and the Diaper Geenie.

This past week has been a whirlwind of emotions and new feelings, but it has been worth every moment. Thanks for all the kind e-mails and well wishes sent our way.

~$~

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How Much is Your Time Worth?

Patrick — Thu, 11 Jun 2009 12:53:38 +0000

Yesterday I wrote an article about outsourcing tasks for my small business and one of the commenters mentioned that the same principles can apply to your personal life. I agree 100%. I recently wrote an article about whether or not changing your own oil was worth the savings. My time is more valuable to me than the few dollars I would save by doing it myself.

Other commenters mentioned outsourcing yard work, car maintenance, home repair, taxes, or other tasks. Many of these tasks can be accomplished by the average person, so long as he is willing to invest a little time and energy into learning how to do the task. But sometimes the time it would take to learn a new task is more valuable than spending the money to hire someone who already has the skills. Or in the case of the story below, time can be more valuable than the cost to purchase a tool to make life easier.

The story of the riding lawnmower

My friend and I were talking at work the other day about his elderly neighbor who is moving into a town home where his yard work is part of the association fees. His neighbor offered to sell him his gently used riding lawnmower for a reasonable price. But my friend wasn’t sure if he really needed a riding lawnmower.

Our conversation went something like this:

Coworker: “I’m just not sure if I need a riding lawnmower. I’ve used a push mower for years, my mower is still in good condition, and the exercise is good for me.”

Me: “How long does it take you to mow your yard?”

Coworker: “About an hour and a half.”

Me: “And you mow your yard, what, every 3 or 4 days?”

Coworker: “Yeah. Sometimes more often in the spring.”

Me: “So from April to October you spend 3-plus hours per week pushing a mower… 12-plus hours per month, and 84-plus hours per season.”

Coworker: “Yeah, I guess so.”

Me: “You do realize that a riding lawnmower can give you back 2 full days of your life every year. Not two weekend afternoons, but two around-the-clock 24 hour days.”

Coworker: Silence.

The next day my coworker told me it took him half an hour to mow his lawn with his gently used riding lawnmower. And he had an extra hour to play outside with his children.

How Much is Your Time Worth?

~$~

All content copyright Cash Money Life.

Essential Money Tips for New Parents

Patrick — Mon, 01 Jun 2009 12:13:53 +0000

As I’ve mentioned several times on this site, my wife and I are expecting our first child. As we get closer to D-day, we are receiving more and more questions, comments, and unsolicited advice. I know that some people get tired of hearing it, but I don’t! Becoming a parent is one of life’s greatest gifts, and I welcome it. But I also know that it will change our lives in ways I haven’t even imagined yet, and these tips have been invaluable.

It isn’t possible to be fully prepared for all the little changes that come with a new baby, but I have found the tips from friends and family, as well as the following articles, very helpful. It would probably take a book to share each tip my wife and I have received, which isn’t something I can do at the moment. But I found these articles helpful, and hopefully you will find the same. My wife and I would also love to read any first time parenting tips you have to share with us. Just leave a comment at the end of the article!

Preparing your finances for a new child

Babies are very expensive, especially when you consider that often times one parent stays at home – meaning income decreases, while expenses increase. This can be a recipe for disaster if you don’t plan for it. One of the most important things you can do before having a child is get your financial house in order. This includes buying life insurance, increasing savings, decreasing debt, having a financial fallback plan, and other financial preparations. Here are some articles that will help you prepare your finances for a new child:

Should you be a stay at home mom or working mom?

My wife and I decided she would become a stay at home mom. We are blessed to have this opportunity, and we know that our decision does not work for everyone. These articles may help your decision become a reality.

Newborn baby expenses

Babies are expensive! But they are worth it! These articles shed light on some of the associated costs of raising a newborn.

What Should You buy for your newborn?

Companies that produce baby products want you to believe you need every item they produce, which is far from the truth! Don’t give in to the desire to give your children “the best of everything” when “everything” isn’t needed. Instead, go out and buy Baby Bargains, which is probably the best single resource for baby products. You’ll love it! My wife and I used that book and it helped us to avoid the temptation to spend money on unnecessary baby items. Here are some tips on what you should consider for your child:

College Savings Accounts

I know this isn’t a priority right away, but it never hurts to start thinking ahead – especially when you or your family members may wish to make contributions toward your child’s education.

This is not an all encompassing list

My wife and I have received a lot of great tips from friends, family, and acquaintances and I’m sure I left out some great tips in this article.If you have anything to add, my wife and I would love to read it!

What are your tips for new parents?

photo credits: baby1, baby2

~$~

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The Money Marathon: It’s Not How Far or How Much, It’s the Effort

Patrick — Tue, 26 May 2009 12:29:15 +0000

On Saturday evening I was hanging out with some friends and we were talking about what we did earlier that day. My friend Tom mentioned that he and his wife walked about 5 miles through town, bought lunch at a local deli, then had a picnic by the river. After lunch they walked home through the town center.

While talking about his day, Tom commented to our friend Sheryl, a marathon runner, that “walking 5 miles once a week isn’t much compared to running marathons.”

Sheryl just laughed the comment off and mentioned that it doesn’t matter what she does, it matters what he does. That struck me as a wise statement. Not only does that relate to running/walking/exercising, but it relates to all matters of life, including personal finance.

You need to crawl before you walk

You can’t run a marathon if you haven’t trained for it. On a similar note, you can’t max out your 401(k) if you don’t have your finances in order, have a good income, pay off your debt, spend less than you earn, etc. It takes hard work and discipline to get your financial house in order and few people can do it right away. It takes even more work and dscipline to become a millionaire.

Think long term

Most marathon runners and millionaires aren’t made overnight. They are made by hard work, discipline, and planning. I have a goal of being a millionaire one day, and I know that for me, the best way to plan for that goal is to plan the same way you would plan for a marathon – with patience and a long term outlook.

Photo: Sheffield Tiger.

~$~

All content copyright Cash Money Life.

What to Put On a Baby Registry

Patrick — Mon, 04 May 2009 11:30:14 +0000

Hi folks! I’m Patrick’s wife, and I’ve been asked by my wonderful husband to write a post about the dizzying world of baby registries. Why? Because Patrick is smart enough to avoid things that make one dizzy. So in exchange for researching the baby registry, and I was bribed with a massage. (OK, maybe not that last one, but it wouldn’t hurt!)

How to make a baby registry

Research is key when planning a list of needs/wants for your baby. Baby products are a huge business, and sometimes it’s hard to distinguish between the necessary and more frivolous items. My mission was to determine what is necessary and to find quality products.

I read reviews of baby items from Babies R Us, Target, and Wal-Mart. I read online parenting and mommy forums. I also devoured the book, Baby Bargains. (Thank you, Mom, for giving this to me on my birthday! It’s been an enormous help!)

I quickly discarded the Babies’ R Us suggested registry list… Actually I laughed at it. Half the items are a waste of money, in my opinion. (But yes, it’s fun looking at the pictures of those beautifully coordinated nurseries!)

I concluded that what a baby needs is: a place to sleep, a means of transportation, food, hygiene, temperature control, a sense of security, and lots of love. I planned our baby registry list with these in mind.

For sleeping I listed a Play Yard, fitted sheets, and a protective mattress pad. That’s it! No crib. No coordinating wall boarders, lamps, and curtains. Nothing that shakes, rattles, rolls, or plays the 1812 Overture. Just your basic Pack ‘N Play to start with. We can put it right by our bed, take it downstairs, haul it to Grandma and Grandpa’s, and give this baby a comfortable place to sleep while saving loads of money and space in the house! When our baby gets a little older we will reevaluate her needs and buy a bed that fits her.

Next up: means of transportation. A car seat is non-negotiable. In fact, most hospitals won’t discharge you until you bring in the car seat and put baby in it! Hubby and I took a hands-on approach with this item. We spent an entire afternoon looking at car seats, travel system strollers, lightweight strollers, and stroller frames. We finally narrowed our choice down to an infant car seat and stroller frame. The cost ended up being less expensive, and the stroller frame was lighter… which makes lugging it around much easier for me! When baby is able to sit up, we’ll look into lightweight strollers.

Food: Here’s where we can save a substantial amount of money! The food will be free because I will be providing it from the confines of my body. (Apologies if this is as far as you can read.) I also listed a manual breast pump, several bottles, and milk storage bags for those days when attaching baby to the confines of my body just wouldn’t be convenient.

Bathing. If you’re still with me, hoorah! I applaud you. Let’s move on to the next necessary item: hygiene. We’ll need warm water, a gentle baby wash, a basic, no-frills, baby bathtub, soft washcloths, and a hooded towel. A baby brush would be good too, especially for styling that baby curl coif.

Hey, did you know there are baby bathtubs – excuse me – SPAs on the market? It’s true. These tiny tubs have jets and shower heads and probably aromatherapy and mood lighting. Shoot! I’m putting one on the registry just for myself!

Diapers, etc. We’ll also need diapers, diaper wipes, a pad on which to change baby, a diaper pail, and perhaps some A&D ointment. We’re considering cloth diapers, but that’s another post altogether…

Temperature control – How do we keep baby at an ideal temperature? Clothing, blankets, and the thermostat. I listed Onesies (actually, the technical term is “bodysuits”), sleepers, receiving blankets, a couple of hats, a few cotton t-shirts, and baby booties for the hands to prevent baby from scratching off her face! (Baby mittens just fall off the moment you put them on.)

We’ve already received several baby outfits as gifts, and I imagine we will continue to receive more. So, I think we’ll have this area covered. If we need more, I know of a great consignment shop close to home that has good quality baby clothes in all shapes, sizes, and colors.

Security and love. OK, so you can’t really buy the last items, sense of security and love. Hubby and I have to provide these by being attentive, patient, and loving parents who hold, cuddle, talk to, and care for our baby. Is this not the most important?

So that’s our baby registry! Well, not quite… some other items I listed were: thermometer, baby monitor, bouncer, sturdy diaper bag, Boppy, and a baby wrap (I hear those Moby wraps are fantastic!).

And now that’s it. I bet you can think of other items to add to my list… maybe even items you would delete, but this is what works for us. Sure, there are other items we will need in the future, but I figure we can always add to our baby stuff as we learn and grow as parents. It’s all a learning experience.

My brain is burning from all this thinking. I believe it’s time for my massage now!

Patrick says: Thanks for writing this article, Love!

For those of you keeping track at home, here is a rough outline of what our baby registry looks like. You may find that your situation calls for additional or fewer items; we prefer to start small and add as we go. We linked to some of the items we chose on our registry, mostly based on recommendations from Baby Bargains and personal preference.

Baby Bargains (not actually on the registry, but this helped us better understand our needs and is full of great reviews and important information. I HIGHLY recommend this book!).
Pack ‘N Play and accessories (fitted sheets, mattress pad).
Infant car seat (we will need to get a larger car seat when the baby outgrows this one).
Stroller frame (we will get another stroller when our baby outgrows the infant car seat).
Manual breast pump, baby bottles, and milk storage bags.
Baby bathtub, soft washcloths, and a hooded towel.
Diapers, diaper wipes, changing pad, diaper pail, ointment, etc.
Clothing – Onesies, sleepers, receiving blankets, hats, cotton t-shirts, and baby booties
Blankets, burping rags.
Thermometer.
Baby monitors.
Bouncer
Diaper bags (2 – one large to cover most situations, one small for convenience. Both unisex in appearance).
Boppy
Baby wrap or carrier (We like Moby wraps or an Ergo baby carrier).

Do you have anything to add to our list?

~$~

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A Big Announcement – My Wife and I Are Expecting!

Patrick — Tue, 03 Feb 2009 11:00:50 +0000

My wife and I have some exciting news to share – we are expecting our first child! We’ve known about this for some time now, but we wanted to wait awhile before announcing it to our friends and family, then I waited awhile longer before announcing it here. Needless to say, this will be a huge change for us, but we are both excited about becoming parents for the first time!

Changes are on the way!

I’m sure that can easily be rated as the understatement of the year! Aside from a lack of sleep once the baby arrives, I’m sure the rest of my life will change as well. There will no longer be a quick trip to the grocery store – the trip that used to take 30 minutes round trip will take 30 minutes before we get out the door. Sleepless nights will be the norm, I’ll worry when our child gets sick, and I’ll wonder if I’m being the best father I can be. I’m sure I’ll worry more in the first three months of our child’s life than I have in the past 3 years. And I can’t wait. Because that also means I get to watch our child grow up. I get to teach our child and help form a new life. I don’t think there is any greater responsibility than that. But those aren’t the only changes coming our way…

Changes to our personal finances

Our baby’s arrival will mean big changes for our finances as well. For starters, we are currently a two household income, or three if you count my small business. But once we have our child, my wife will quit her job to become a stay at home mom. Thankfully, we’ve been planning for this since we were married and we have a plan in place.

Shortly after we were married, my wife resigned her Commission in the USAF, and took a lower paying job that offered a different challenge, and more importantly, increased stability. It was a big pay cut, but in the end, we decided that our quality of life was much more important than money.

This time the decrease in pay will be much larger, but now we have an additional income from my small business. In addition to our income situation, my wife and I have eliminated all consumer debt – the only thing left is our mortgage, which is a reasonable amount. We have also spent the last few months working on building our emergency fund. We want to have plenty of cash in the bank because I am sure many unexpected expenses will come with our little bundle of joy!

I’m sure there are a lot more things that I could write about how this will affect our personal finances but I will save those, and some articles about how my wife is dealing with her pregnancy at work, for future posts. For now, I’m off to spend some quality time with my wife.

~$~

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The Greatest Generation is Missing a Member

Patrick — Wed, 22 Oct 2008 11:36:04 +0000

I received a phone call yesterday while I was driving home from work. The news was not unexpected, but nevertheless, it was not easy to hear. My Grandfather, a member of the group of Americans Tom Brokaw dubbed The Greatest Generation, passed away.

Brokaw defines “the greatest generation” as American citizens who came of age during the Great Depression and the Second World War and went on to build modern America. My Grandfather exemplified everything that generation stood for. He served in the greatest war our world has ever witnessed, he was a business owner, he was a farmer, he was a husband and father. In short, he was like millions of other Americans from his generation.

My Grandfather grew up in Evanston, IL during the Great Depression. By all accounts he was poor, but probably no poorer than most people in those times. During the onset of WWII he enlisted in the Navy. He proudly served as a crew chief maintaining fighter aircraft on the USS Nehenta Bay, an aircraft carrier that served in the Pacific. Though he was never one to talk much about his time in the service, I managed to coax a few stories out of him (though not until after I myself had joined the military). He shared a few stories of the strafing runs their aircraft went on and how one of his pilots never returned to the aircraft carrier. He also told of surviving a kamikaze attack during the final months of the Pacific Campaign. The resulting attack damaged the USS Nehenta Bay and scuttled two of the USS Nehenta Bay’s sister ships. But mostly, he talked about the things all military veterans talk about – the card games, pranks, practical jokes, camaraderie, and the pride that comes from serving your country. He never questioned serving and never asked “why?” or “what if?” It was a job that he and millions of others of his generation were called to.

After the war my Grandfather settled in California. He was a mechanic by trade and eventually owned and operated a service station – back when the people at gas stations pumped your gas, topped off your fluids, washed your windows, filled your tires with air and served you an 8 oz. Coke in a glass bottle – all for about a buck. His service station was also a repair shop and he worked on cars, motorbikes, and small engines. My father worked there for a short time while he was attending college.

Several years later my grandfather sold the service station and bought a working farm where he and my Grandmother raised chickens, rabbits, and Appaloosas, a breed of horse known for their spotted coloring. I vividly remember gathering fresh eggs for breakfast when I was a kid. Their farm also featured an orchard with a multitude of fruit bearing trees – apple, cherry, plum, walnut, pomegranate and fig. Last fall my wife and I took a Mediterranean cruise for our honeymoon. On one of our excursions we stopped for lunch in a Medieval town in the Luberon villages of the Aix-en-Provence region of France. The town was perched on a small hill overlooking grape vineyards. After our lunch my wife and I took a stroll through the cobbled streets and at one point I had a fleeting moment of deja vu. I couldn’t place the memory and a few moments later it struck again. A sweet scent took me away and I looked up and saw a fig tree. The smell of fresh figs combined with the weather and the scenery brought back wonderful childhood memories – stories that I was able to share with my wife.

I was almost 7 when my family relocated from California to Alabama for my Dad’s job. I saw less of my Grandparents from that point, but they always remained in our lives. Shortly after we moved to Alabama my Grandparents sold the farm and moved to a smaller home that was situated by a small private lake in the middle of gold country – far away from the big cities and the bright lights. My grandfather had a small, 2 person sailboat and a couple canoes. He gardened and fished and tinkered in his shop all day. I have fond memories of visiting my Grandparents and spending the summer with my brothers rowing across the lake and fishing and raising the kind of trouble that boys are known to do when left alone. Some nights we camped out under the stars. You’ll never again seen so many stars as you will see camping under the naked sky in the foothills of the Sierra Nevada. The Milky Way sweeps across the sky and shooting stars add an exclamation point to the end of your day. Those summers lasted forever – but were never long enough.

As time went by, so did my Grandfather’s strength. The house by the lake became too much for him to take care of, so he and my Grandmother relocated once again to a smaller home that required less upkeep. He gardened, volunteered with the local Sheriff’s office, and remained active in the community. For my Grandfather’s 80th birthday, my Grandmother surprised him with a birthday party and a special gift. I flew out to California and escorted him to Washington, DC, where we met up with my brother, a US Marine, and my cousin, a Soldier in the US Army – the three grandchildren veterans of the War on Terror. Together, the four of us represented all four branches of the US Military. During our trip to DC we visited the newly opened WWII Memorial. We also took in parts of the Smithsonian, the Mall, and saw the White House. At age 80 my Grandfather was still a trooper and kept pace with his 3 grandchildren, even though his body was slowed by the onset of Parkinson’s disease. Though the trip only lasted a few days, I know it had a profound affect on him and was a memory he looked upon fondly. It is also one I will remember the rest of my life.

My Grandfather was not a perfect man, but he was a good man. He loved and was loved in return. He was a Son, and a Husband. He was a Father and a Grandfather. He was a Sailor and a Mechanic, a Farmer and a Business owner. He was an American and a member of the Greatest Generation. My grandfather passed away yesterday at age 84. And I will miss him.

~$~

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Kiva – Microloans for Entrepreneurs

Patrick — Sun, 05 Oct 2008 20:40:41 +0000

I have written about peer to peer lending on several occasions, most notably from the perspective of funding P2P loans as a source of alternative income. When you make a P2P loan with a company such as Prosper or Lending Club, you can “be the bank,” and make loans to others. In return, you can receive interest on your loans.

Kiva is another P2P lending organization, but the idea behind Kiva is not for lenders to make money. Kiva’s goal is to help eliminate poverty by giving small non-profit loans to entrepreneurs in developing countries. These entrepreneurs usually can’t go to a bank for a loan because they don’t have enough money to make a deposit or have any collateral for the loan.

How does Kiva work?

Kiva collects microloans from individuals and organizations and distributes them via field partners to entrepreneurs in developing countries. Some field partners offer training or other support to the entrepreneurs. Loan repayment and other updates are posted on Kiva and emailed to lenders who wish to receive them.

It is important to note that while neither lenders or Kiva receive interest payments on the loans, Kiva’s field partners are middlemen who often charge interest to the loan recipients, sometimes at high rates, but usually better than the prevailing rates entrepreneurs would be able to get elsewhere. (Kiva loans are generally a safer loan option, as the entrepreneurs other options are local loan sharks who sometimes use violence or other methods of retrieving their loan).

To make a loan with Kiva

Kiva has a list of entrepreneur’s on their website who are searching for loans to improve their operations. Lenders can scroll through the list of entrepreneurs and make a selection based on the person they wish to lend money. Loans are made via credit card or PayPal. When loans are repaid, lenders have the option or lending money to another entrepreneur, or withdrawing their money. You can make a loan with as little as $25.

Pros and Cons of lending with Kiva

Even though you are lending money for a good cause, when you make a loan with Kiva you are not giving a donation, so your loans are not tax deductible. These loans are also not guaranteed, so there is the chance that you can lose money if the loan is not repaid. If this happens, you should be able to claim the loss against your taxes.

So why lend with Kiva if you can’t claim it on your taxes, and you may not even get repaid? Because you have the chance to help someone improve their life and community, which is a noble action on your end. At a minimum loan of $25, the risk is small.

My thoughts on Kiva and microlending

I look at making a loan through Kiva as an opportunity to help improve someone’s life at very little risk on my end. Though the money is technically a loan, I look at is as a donation and would not lend out any more money than I could afford to give to any other charitable organization I believed in.

The difference between Kiva and a charity is the money for the Kiva loan is not tax deductible as it is for a charitable donation. But then again, with charity wouldn’t return the money to you and give you the opportunity to give it again. So a Kiva loan has the potential to be a gift given many times over. And that is pretty cool.

Here are some other articles about microlending and Kiva:

Have you used Kiva? If so, what are your thoughts?

~$~

All content copyright Cash Money Life.

My Wife and I Went on a Hot Air Balloon Ride

Patrick — Mon, 22 Sep 2008 13:51:10 +0000

I surprised my wife two weeks ago with our first hot air balloon ride; a surprise two years in the making. I promised her I would take her on a hot air balloon ride for her wedding present, unfortunately, we weren’t able to do that right after our wedding because she had military obligations that took her to the Middle East for a few months. What a way to spend a honeymoon! Actually, we celebrated our honeymoon last fall – a year after we were married. We were very busy last year and couldn’t seem to find the time to schedule a hot air balloon ride (or work it into the budget).

The hot air balloon ride was put off multiple times until it was seemingly forgotten. At least, that’s how I wanted it to seem. Our second wedding anniversary was last month, and I thought the best way to surprise my wife was to give her the wedding present I hadn’t yet been able to give her. So I did, and believe it or not, I was able to keep it a secret, even though we had to postpone the balloon ride twice due to bad weather. It was well worth it because we were blessed with a perfect summer evening for our balloon ride. The temperature was in the low 70’s and there was not a cloud in the sky. There was a slight breeze – around 6 mph – which took us on a gentle path through the sky. In short, it was a perfect experience.

Here is a picture we took on our flight (we took off with another balloon):

How to book a hot air balloon ride

Evaluate your options. I started my search online, and found several local hot air balloon companies. I also looked at purchasing a hot air balloon ride ticket via Soaring Adventures, a ticket broker for a variety of air adventures, including hot air balloon rides, glider rides, skydiving, and more. Soaring Adventures offers great deals and a money back guarantee, but in the end I decided not to go with them.

I needed to book our tickets relatively quickly, and Soaring Adventures doesn’t book the flights – they only sell the tickets in the form of a gift certificate. They mail you the gift certificate with a list of participating members, but unfortunately, they wouldn’t send me a list of participating members before buying the ticket. Even though buying a ticket through soaring Adventures would have saved me about $70, I felt more comfortable being able to speak with the hot air balloon pilot, arrange the dates and locations, and discuss anything else that came to mind before I purchased any tickets.

I called around to several hot air balloon companies in out local area, and the one that impressed me the most was Bella Balloons. The first person I talked to was Mike Gliatti, who is a part owner of Bella Balloons. We hit it off right away. I felt comfortable with Mike and his crew, and that is extremely important to me.

Safety first. During my first phone call with Mike, he discussed safety as being the most important factor of a hot air balloon ride, and we even had to cancel 2 flights before we were able to make our flight. I would much rather a pilot cancel a flight than take a chance with high winds or other risks!

The trip is about you. Mike and his team were also very flexible in making sure our hot air balloon experience was everything we wanted it to be. Bella Balloons is located in Lebanon, OH, and they provide hot air balloon rides throughout the Cincinnati and Dayton area. Mike and his crew were more than willing to meet us in a convenient location, which saved us a lot of driving. They also offered to do any special requests if we had any (we didn’t). After the flight, Mike and his crew presented us with a flight certificate and we had a champagne toast to celebrate (we were able to keep the champagne glasses with the Bella Balloons logo – good advertising, and a neat souvenir!).

Here are some photos my wife and I took during out hot air balloon adventure.

filling the balloon with hot air

Floating over the Miami Valley in Ohio.

Floating in a hot air balloon in the Dayton area.

Another photo of the hot air balloon in the Dayton area.

This last photo is after we landed in a field. The owners were in the field as we flew over and our pilot asked them for permission to touch down. They invited us down and helped us pack up. It was a lot of fun to meet them! Notice how tall the balloon is – it’s about 7 stories tall, and we couldn’t even fit the entire balloon in the picture!

Notice how tall the balloon is!

If you get the opportunity, I recommend taking a hot air balloon ride. They are a lot of fun, and it is a very peaceful and relaxing experience. If you are planning a balloon ride and you live in the Miami Valley area of Ohio, I highly recommend contacting Bella Balloons. They went out of their way to ensure our balloon ride was a beautiful experience. From start to finish, it was a relaxing adventure and one that I would enjoy repeating. I can’t thank Mike and his crew enough for the awesome experience they gave us. Thanks guys!

For more information about hot air balloon rides, I recommend reading these links:

All photos copyright Cash Money Life.

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