Comments on: Save Time and Money by Asking for Help

By: Craig Ford

Craig Ford — Wed, 25 Nov 2009 12:49:56 +0000

Laura,
As you mentioned it is essential for this to be a two way street. We do get so afraid of asking too much that we often won’t ask for anything. If, however, we worked together more often it would be a cost savings for everyone involved.

By: Lance

Lance — Wed, 25 Nov 2009 04:54:23 +0000

I concur about not being a mooch and don’t be cheap – it’s a great way to lose friends.

Be generous with your time and talents and the favor will be returned one way or another.

By: Stephanie

Stephanie — Tue, 24 Nov 2009 22:52:04 +0000

ARMs aren’t always a bad idea. These days people use ARMs to get into a house they really can’t afford (which is always a bad idea), but when interest rates are high an ARM can be a good idea since it will adjust down. My parents had an ARM on their house (circa 1983) and did very, very well with their loan.

By: Kevin@OutOfYourRut

Kevin@OutOfYourRut — Tue, 24 Nov 2009 17:16:37 +0000

This post is a compelling reason to involve more people in our lives, not less as has been the trend in recent decades as we retreat into a virtual world of ever more dazzling entertainment.

“… our friends advised us to go below what the bank pre-approved…”–taking that little bit of advice alone will probably save you 10’s of 1000’s of dollars over the next decade or so, as well as keep you and your husband from joining the current foreclosure party.

Life’s too complicated for any one of us to know nearly everything. Having family and friends as mentors and advisors is one of the very best things any of us can do.

By: Bodark

Bodark — Tue, 24 Nov 2009 16:31:32 +0000

Enjoy your new domain! If you’re a drinker perhaps to sweeten and motivate y’all. One bottle of champagne to celebrate closing and a second bottle to celebrate paying off the mortgage!

By: Craig

Craig — Tue, 24 Nov 2009 16:12:31 +0000

As long as you understand help is a two way street like you mention than feel free. I have no problem helping others and go out of my way to. I just hope when I ask for help it is done back.

By: Financial Samurai

Financial Samurai — Tue, 24 Nov 2009 14:16:43 +0000

Great stuff Laura! I’m excited for you and your new abode! I’m sure you’ll love it.

By: Seth @ Boy Meets Food

Seth @ Boy Meets Food — Tue, 24 Nov 2009 14:05:41 +0000

2 comments…
1. Yes, we did the same thing with our wedding. A couple of relatives offered their professional services (wedding planner, DJ, etc.) as wedding presents, and we were very happy with the result. It lowers your overall cost, and it gives them a way to help their loved ones, while also saving them on the cost of some gift they will never even know if you will use. I do however agree that it is important to make sure to pay for any expenses they might incur though!

2. On the renting vs. buying thing. I too had people tell me that renting is just throwing your money away. However, I would toss in one more piece of information… it depends on how long you will be staying there.

If you KNOW you will be there for at least 3 years, then buying may be a good way to go, but if it is possible that it will be less than that, I would recommend renting. I bought a house and then sold it one year later for about $1K more than I paid. Good deal right? NO! I paid 7% in realtor fees to sell. When you add up the closing costs, realtor fees, PMI, and interest on the loan itself, renting would have been waaaay cheaper than buying. And I even sold it for MORE than I paid… think about people that sell for less!

I just wanted to point out that the time you will live in the location is extremely important in making the decision between renting and buying!

By: John DeFlumeri jr

John DeFlumeri jr — Tue, 24 Nov 2009 13:45:18 +0000

That is right, be ready to help others back. Even help others first, it’s like having an account at the “help” bank.

John DeFlumeri Jr