Posts by jsangl
Save Money – Grow a Garden!
I love gardening. I am a FREAK about gardening. Seriously.
Every January, I start getting this glazed-over look in my eyes, and I have to really control the urge to pull out all of my seeds and start planting them.
Gardening can save you money on your grocery bill. If you have no idea about gardening, then you want to keep it simple and small. This will make it fun, educational, and keep things cheap.
If you are just starting out, I recommend the following plants for some sure-fire, tried and true producers.
- Zucchini – You will feel like an expert gardener with this plant. It will EXPLODE with fruit and you can't really mess this up.
- Yellow Squash – Same as zucchini on ease of growing!
- Tomato – Home-grown is WAY different than store-bought.
- Bell Pepper – These plants love hot weather.
- Cucumber – Great snacks and very easy to grow.
- Green Beans – Yummy!
- Snow Peas – These things are prolific producers and twenty vines will produce handfuls of peas every two days or so. Great for stir-fry!
- Sunflowers – Try the mammoth sunflowers that have flowers over 16" wide and stalks over eight feet tall. The kids will have a blast watching these plants grow.
- Radishes – From seed to harvest in about forty days.
I love my garden. The great veggies PLUS the awesome flowers that are grown in it make it a very cheap hobby and a way to supplement the groceries budget in the summer.
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The Mutual Fund Series: Vanguard
Welcome to a new series at JosephSangl.com – The Mutual Fund Series.
During each part of this weekly series, I will be looking at a specific mutual fund company.
Today's company is The Vanguard Group.
Vanguard is one of the largest mutual fund companies in the world. Based in Valley Forge, Pennsylvania, they currently manage $1.3 TRILLION dollars for their clients and offer 150 domestic funds and additional funds in international markets.
What I Like About Vanguard
- Target Retirement Funds. Vanguard was one of the first companies to offer target retirement funds. It is a fantastic idea to address the complete confusion that some people feel when making retirement mutual fund choices. All one has to do is select their target retirement date and Vanguard will automatically shift the mutual fund to become less risky/volatile as one approaches retirement. It really helps address the need to rebalance one's portfolio.
- Very low annual expense ratios. Vanguard is client-owned. This means that the company is owned by those who invest with the company. This results in Vanguard having the lowest management costs in the mutual fund industry. The average expense ratio for their mutual funds is 0.20% (the industry averages around 1.50%). This means that I get to keep more of the annual growth of my money.
- Lots of mutual fund options. With over 150 domestic funds and additional funds in the international markets, I have a lot of choice. I like choices.
- Full-service investment company. Vanguard offers mutual funds, IRAs, Roth IRAs, 401(k) rollovers, 529s, ESAs, and brokerage services.
What I Would Like To See Improved At Vanguard
- Lower "initial investment requirement". Most of Vanguard's funds require an initial investment of at least $3,000. This rules out a lot of beginning investors. Of course, this is not a problem when someone is investing within the bounds of their company 401(k), 403(b), or other retirement plan where minimum investment requirements are usually removed.
Vanguard Mutual Funds I Own
- I currently own one Vanguard mutual fund – Vanguard Institutional Index Fund [Ticker: VINIX]. I own this mutual fund as part of a 401(k). You can see other mutual funds that I currently own by clicking HERE.
- This mutual fund has a minimum investment requirement of $5,000,000. The reason that I am able to own shares of this mutual fund is because it is offered as part of the company 401(k) plan.
- It is a large-cap blend fund.
Vanguard Mutual Funds That I Am Considering Purchasing
- Vanguard Target Retirement 2040 Fund [Ticker: VFORX] This fund will automatically rebalance for me as I approach retirement. I chose the 2040 fund because that is a target retirement year for me. Vanguard has Target Retirement funds for every five year period from year 2005 to 2050.
- Vanguard 500 Index Fund Investor Shares [Ticker: VFINX] This fund tracks the performance of the S&P 500. It has very low expense ratios. It does need $3,000 to begin an individual investment.
What Vanguard funds do you own? Do you have any Vanguard funds that you really like? Dislike?
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Who I am learning about finances from right now
It is so important to continue learning about personal finances. I thought I would share who I am learning about finances from right now.
- Clark Howard – his daily radio show
- Dave Ramsey – his daily radio show (I've read all of his books)
- CNN Money – I love the web site
- Those I counsel – I learn so much from the people I meet with!
- Mary Hunt – Her website (she has good books too!)
- Those who write in questions/comments through the website – I love helping others work through their financial decisions!
That is how I am learning right now.
Who should I be adding to the list?
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Save Money – Student Loans
Student loans. They are so nice to have around. NOT!
I remember inviting this gal named Sallie Mae over to my house and she did not leave for 8.5 years!
After 8.5 years, I decided that it was time to break up with Sallie Mae. She was not really pleased about it.
Anyway, about four years into the pay-off, I received a letter in the mail that said …
"Congratulations. Because you have made 48 consecutive on-time payments, your interest rate has been reduced by 2%!"
That was awesome!
If you have student loans, did you know that YOU could receive the same interest rate deduction?
In fact, I checked out several of the larger Student Loan companies to find out their current policies. Here is what I found.
- Sallie Mae – If you make your first 33 monthly payments on time, you will receive a check for 3.3% of the amount borrowed! If you opt to have the 3.3% credit applied to your loan amount (I would), it will save about 5.35% of the amount borrowed due to interest savings! Click HERE for Sallie Mae's Cash Back details.
- SC Student Loan – Through their Quarterback Program, borrowers can automatically receive a 0.25% interest rate reduction for allowing monthly drafts for your payments. Through their Best Interest Program, after making 36 consecutive on time payments, borrowers will receive a 2% interest rate reduction. If you make all of your payments on time, then the last portion of your loan will be forgiven – up to $750! Read all about SC SLC's benefits HERE.
- Wachovia Student Loan – They will provide a 1% rebate when loan repayment begins. Another 1% rebate after 12 months of consecutive on time payments. Another 1.5% rebate after making 24 on time payments! You can read about that HERE.
The common thread through all of this is ON TIME PAYMENTS!!!
Have fun saving money! By the way, I love the automatic draft feature. I use automated drafts for all of my investments. It really helps me stay on the wagon (it is one of my wagon staplers!).
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Save Money – Get Rid Of The Home Phone
At NewSpring Church, we are able to provide FREE one-on-one financial counseling for hundreds of people each year. I have a crew of awesome volunteer financial counselors who help people develop a plan that works! I love it!
One thing we have all seen is the fact that over HALF of the people that we meet with no longer have a home phone. They have dumped the home phone and are using their cell phones instead.
For those who still have a home phone, I am seeing a cost ranging from $35 to $50/month.
Let's think about this in a larger way.
$50/month = $600/year
How much money do you need to earn to bring home $600? Think about it. If you want to bring home $600 extra in your paycheck, you will need to earn something like $900.
So … By getting rid of the home phone, you are giving yourself a $900/year raise!
I LOVE giving myself pay raises!
Have you dumped your home phone? Select your answer in the survey below!
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