Garage Sale Season

With end of summer upon us, I start thinking about all of the garages full of stuff that is no longer used, too small or has been upgraded. I have memories of being a kid and getting up early every weekend to go to garage sales. (bribed with donuts and the hopes of a new toy of course) 🍩 🧸

Nobody asked me about my opinion on garage sales, but I’ve decided to tell you anyway. I can say that I had one several years back and made around $800 when I was on maternity leave. I also did one for a work fundraiser and made around $500 for our Big Brothers Big Sisters bowling team. For mine, I sold a bunch of maternity stuff and baby stuff we weren’t using and all of Kylie’s clothes we had saved from NB-4T, after picking out the gender neutral stuff for Caleb of course. 😉

Looking back..I definitely think people with babies up to 4 years have the best luck. Also, people in a high traffic area or neighborhood having a lot of sales the same day can also be successful. But I also think we can avoid the need for a garage sale by sticking to the bare minimums and borrowing stuff that we will only need for a short period of time. Babies seem to be a reason to buy everything, and baby registry’s make it easy to add a bazillion things you will likely be too exhausted to figure out how to use once parenting shows you it’s true colors. Then it will end up in your pile for the sale, likely priced at half what it costs, just to have someone ask you if you’d take five dollars for it. (I know because I’m a garage sale hardcore negotiator) 😂

If your sale includes clothes, shoes, and household items, and you still have a closet full after outing for the sale, then it might be time to just stop and reflect on your stuff strategy. Not only did that clutter used to be money, but that money used to be your time.

I will say if I’ve finally persuaded you to join my minimalist lifestyle and you are simplifying your life and need a fresh start, one big sale may be a good idea. But only if it ends there, and you don’t just go out and accumulate more stuff to replace what you sold. Also, think about the time and energy that goes into one. If setting up, pricing, getting nasty warm lemonade for the kids to sell and dealing with them badgering your customers for 5 hours on your Saturday morning with extreme temperature variations like smoldering heat or pouring rain and going back and forth with hardcore negotiators like me sounds like a good time to you..well start borrowing those tables my friends. 🤷‍♀️

If that sounds comparable to a root canal, then selling things in “lots” on Facebook Marketplace is a great alternative. Or let’s be honest, we all know that person that’s selling clothes that are so loved they should be donated. Just saying..don’t be that friend..also don’t be the friend that sells hand me downs you got from a friend. (Totally did that on accident and still getting shit for it two years later) 😂

When it comes to shopping at garage sales, this can be a double edged sword. I remember finding a rocking chair with foot rest at a garage sale for $15 that I used with both kids. I negotiated it from the $30 it was marked at and was so proud. But I’ve also lost all common sense and self control at a sale and just bought the whole damn table of baby clothes I didn’t need. So be careful when you shop..they can be sneaky and fill your trunk up before you realize you only needed a few things. 🤷‍♀️

Now you know my thoughts..what are yours and please share your garage sale fails and success stories. 😊

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My Biggest Financial Mistake

We left off on my last post in 2005, driving a gas guzzling 2001 Dodge Durango while commuting an hour and gas being $4 a gallon. 😬 Go back and read Part 1 if you haven’t, because there’s lots of entertainment there that I can look back on now and say..what the?! 😂

Back to the Durango part of the story..I had just started Financial Peace University and had also just started dating my now husband in 2007. I really wanted to do the debt snowball and keep the Durango and pay it off. But I was young and stubborn..and well..still financially irresponsible and just flat out stupid. 🤷‍♀️

Sooo..long story short..in 2008 I traded that ole Durango in for a gently used 2007 Nissan Altima. I couldn’t qualify for a car loan with under a 16% interest rate on my own, so my boyfriend (now husband) co-signed. Why are y’all out here enabling my bad decisions by co-signing..can we say enablers?! While I am absolutely grateful for the help on the loans, the now wiser older version of me is like..well..that was a sign I shouldn’t be getting a loan..period!!! If I wouldn’t have had that option, then maybe I would have figured out a different solution that didn’t involve another loan and $300 car payment. 🙅‍♀️

With marriage, my husband brought a 2002 Nissan Maxima that was paid for. We ended up deciding in 2015 to trade it in for a 2014 Nissan Pathfinder SUV that we “needed”. So we did make that Maxima last a minute, and we even kept the Altima after we paid it off. (and my husband is still driving it today with over 200k miles) It smells weird and has different sounds, but it runs and that’s what our requirements list looks like for a car these days. 😜

We ended up selling the Pathfinder because it had transmission issues and pissed me off at the wrong time on the wrong day. The Altima was also causing some troubles, so I decided it was no longer safe to commute in. We ended up doing some minor repairs and my little brother used the car for a year or so. Fast forward to 2017 and impulse buying my 2015 Infiniti Q50..cause I need a luxury car that my kids can spill their drinks and empty snacks all over in, and slam the doors into anything that is there when they open them. It’s also important to have premium gas for a commuter like myself. 🤦‍♀️

Happy ending though..sold the Infiniti and replaced with a paid for in cash 2013 Nissan Altima with 124k miles on it. So we now have NO car payments and two Nissan Altimas to get around in.

I think it’s time to analyze the overall effect this financial mistake of having a car payment for 18 years had on my overall financial wellness. Hopefully this will help prevent it from happening to others in the future. If you take an average of $350 a month over that 18 years, that’s $75,600.

🙄😬😭🤢😳🤬🤔🤦‍♀️

I could have easily had one or two cars last me through that timeframe for under $10,000. What would life be like had I taken that money and invested it or saved it and used it for down payments on 4-5 rental properties? I could have used the cash flow to pay for a car of my choosing. Also, did having to ensure I could cover that $350 every month make me less of a risk taker on chasing dreams and playing it safe for a steady paycheck? Deep thoughts and questions we will never know the answer to.

What I do know is that I drove myself down a road paved with bad decisions for 18 years, but better late than never to realize it’s time to take a different road. 😉

I’m curious..what is your biggest financial mistake and what did you learn from it?

6 months down!!

What better day than Amazon Prime day to give an update on how my No Spend Year is going. I wouldn’t have even known about it if it weren’t for my coworkers. 🤷‍♀️ While shopping holidays like today have never really appealed to me, I will say the No Spend has been a bit of a challenge the past few weeks. 😬

Timing was just right that I had a really amazing friend gift me some clothes that I absolutely love and am so grateful for (my new fave skirt..it has pockets!). I did end up buying sunglasses a few months back because mine broke, which I considered a need for eye protection. I also bought some stuff, including a T-shirt for a fundraiser for a friend, but I don’t count that since it was for a great cause. I’ve been battling with buying a pair of sandals for work. I can technically wear flats that I have, so not sure this qualifies as a “need”. Do my feet really “need” sandals when it’s 100 degrees out, but still frigid cold in the office? Probably not. Lastly, I bought a new AppleWatch and new Nike running shoes, but these I can explain..I promise. I work for a great employer, and both were FREE as part of my employee benefits package. Yes you read that right..and yes we are hiring. 😉

Overall, I’m SO PROUD of myself for the amount of restraint and growth I have experienced this first half of the year. I would like to thank the former “consumer” in me for knowing her weaknesses, and avoiding emails by unsubscribing to everything, and staying out of any of my “trigger stores”. 😂

I would estimate that over the past 6 months, I have likely saved upwards of $2,500. This is just an estimate based on my previous patterns. My old consumer self went to Target 2-3x a month and would average around $100 per trip, along with usually having my hair colored every 10 weeks at about $85, and don’t forget buying some makeup here and there, shoes, and at least one big “seasonal” shopping trip for new clothes around $500ish total. Don’t forget the little random purchases here and there also. 🤦‍♀️

I’m really looking forward to continuing to save and invest my money for the second half of the year, which will help keep me on track. Besides the savings of time, money and not having extra clutter, I definitely have a different mindset about money. Knowing that every day I’m trading my time for money, reminds me that each purchase, no matter how small, has to be bought with hours of my life. That’s a powerful translation of currency that will always stick with me going forward. 🕰 💵

This is us

I thought with all the new followers, it’s a good time to re-introduce the magic behind mysemibasiclife (you read that right..I totally referred to myself as the magic). To celebrate, my daughter humored me with a photo shoot, and my favorite was one of the bloopers. 😜

Sometimes life is more about what happens behind the scenes, between the “perfect” pictures, when you’re trying to pose and get the best lighting, hide that lazy eye, those wrinkles and those frizzy grey hairs. She captured all of these things, all of my imperfections, including crows feet I didn’t even know were there. How fitting to show my imperfections to all of you who have been following along on my imperfect journey to financial freedom. This is me..always laughing at my own jokes, never taking things too seriously, currently staring off into space like only a true dreamer can do. 🤷‍♀️

This is the entire family that puts up with my latest crazy schemes, understands the bigger picture behind those crazy schemes, sometimes appreciates my hilariously witty comments and penny pinching ways, and packs in the car with me for that fifth trip to the library in a two day period. 😂

You weren’t there for the early years, the dark debt days 😬 where we were living beyond our means and got ourselves into a financial spot where all of our paychecks were going towards debt. But you have now followed along as we ditched the debt, got rid of car payments and paid our last student loan off, which puts us at a grand total of $165,000 in consumer debt paid off!! You’re following as I am feeling weak, but holding strong and halfway through my #nospendyear. You followed along as we bought our first rental property and are following along now as we now search for the next one. 👀

We are excited to continue sharing our life after debt journey, including our ever changing goals, working on growing our net worth, celebrating the success, overcoming the setbacks, and the blood, sweat and tears along the way as we define what financial independence looks like for our family. 🔥

Enough about us though..I want to hear from you..what’s your story? What topics that I’ve covered have helped or would help you along your journey?

What questions do you have for me?

👇🏼👇🏼👇🏼👇🏼

Be a Goal Getter

I don’t care who you are..you need goals. Think of the old cliche saying that totally applies here..how are you supposed to get where you’re meant to go if you don’t know where that is? I firmly believe that if you take everything else out of the equation, mindset and goals are the biggest drivers of if you will or won’t do something. It also doesn’t matter if you’re on a different path than me and think I’m crazy for my recent FIRE movement 🔥, you still need goals and the right mindset for whatever your movement is, whether financial, personal, professional, relationships or health related.

Don’t be a flake and say something vague like “I want to pay off my debt” or “I want to lose some weight”. If that’s your goal, then you may as well replace it with “I don’t want to accomplish anything ever” and just get excited about carrying around those extra 15 lbs and all that consumer debt for the rest of your life. We wouldn’t have paid off all of our debt and bought our first rental by being flaky..period.

Instead, set yourself some SMART goals for whatever you are trying to achieve. Stop and brainstorm your life, past present and future state. I know everyone is “busy”, but sometimes you have to make it a priority to stop and reflect. Think about tomorrow, end of the year, two years from now, and maybe even think even farther, like 5-10 years from now. With us being halfway through 2019, it’s also a good time to look back on the past six months. What do you see? Do you like what you see? What will happen if you continue the way you are? Will you get where you want to go?

After you think about your path and your big picture, which will be different for all of us, think about 3-5 micro goals over the next 6 months that will help you get that much closer to your big goal. Get all high tech and write them on a post it and put them on your fridge…where you see them every day. 👀 (bonus points if they fall off all the time so you have to look at them even more when you pick them up off the floor)

As you can see, I have crossed out and updated a few of mine when my priorities shifted and opportunities came my way that altered my original timeline. Be ready to adjust as life comes at you, but even when things don’t go as planned, don’t ever give up. Remember to set your goals high enough to push you while making sure they are also attainable with some focus and hard work.

Don’t forget to stop and celebrate your successes as you hit your goals. Then make sure you continue to set new micro goals to get you that much closer to where you want to be! We need to think bigger and get some new goals since we’ve already paid off the student loans, currently looking for our second rental and also pretty sure we have increased our net worth by $25k just in the past few months. So I’m curious..what are some goals you have crushed and what are some that didn’t go so well?

Teach Them Instead

I always hear people and have even said myself that “I want to give my kids everything I didn’t have” or “they deserve the world” and obviously that doesn’t mean buying a bunch of crap and “spoiling” them. But let’s be honest..it kind of starts to look like that no matter how much you try not to spoil them.

We make sure they have all of the latest and greatest name brand clothes, hot toys or electronics “because their friends have them” or “because we just couldn’t resist the clothes sale and went a little overboard”. We make sure they are attending all of the activities and getting them top of the line sports gear and paying a little extra for that personal pitching coach (or whatever your sport is). We’ve all been there, and even though they are persuasive, I don’t think they really care about any of those “things” they get.

I decided to change the game this year while I still have the chance. Instead of spending money on them, I’m more interested in spending time with them. My kids both still want to hang out with me, and the older one could change her mind tomorrow (she’s turning ten soon and really into herself and her friends these days, so my window is getting narrower by the day).

So why wouldn’t I use this opportunity to spend as much time with them as I can and start teaching them the things I wished I would have known instead of buying them what I didn’t have? We had both kids help with painting and cleaning up at our rental house, and we explained all the details and why we bought it. I also recently read The Latte Factor with my oldest and we talked about it as we went along, and how the little things add up financially. We’ve also been doing a lot of walks and pool time and there’s so many options that don’t cost money.

So why not save that money you were going to spend on junk, invest it in some real estate or other retirement account and instead invest your time with your kids. I have a feeling the kids will hold on to the memories with you for a lifetime and forget all about that new outfit or toy before they even outgrow it.

Net Worth Tracking

I’m almost embarrassed to admit that I never really thought about or paid much attention to our net worth until about 6 months ago. I didn’t really understand that it wasn’t just for “rich” people, and that everyone should at least have a general understanding of where they stand and where they are headed. But it’s also probably better that I didn’t, because my net worth was in the negative and that could have been very discouraging.

Now that we are almost done with our student loans, our final liability (minus our mortgages), I’m going to start using net worth as my new way to set goals and measure success and/or failure. It’s so easy to take your assets and subtract your liabilities from them.

With getting rid of liabilities and adding a few assets, we have seen a significant increase in our net worth in the past 6 months. It’s crazy how setting goals, taking action, being consistent, tracking progress and thinking about and sharing with others can really help accelerate success.

Does anyone else geek out on net worth or am I the only one?! 🤓

Curious about your own net worth?

I found a cool free app that is easy and also curious what others use to track. WealthPlus Net Worth by Little Appshttps://itunes.apple.com/us/app/wealthplus-net-worth/id933534901?mt=8

Follow me @my_semi_basic_life on Instagram if you aren’t already, and tell a friend or two if you like what you’re reading. 😉