Things I've Learned This Year
2013 was quite the challenging year. Household and auto emergencies sprung up right after Lisa and I graduated Financial Peace University (FPU). In fact, our water heater decided to stop doing its one and only job -- providing hot water for the household -- the very next morning. Let's just say that the Eddy Household 4TH Quarter Expenditures greatly outweighed the Income Category.
That being said, 2013 has provided many valuable life lessons. These learned lessons I have graciously provided below.
1. You can do a budget and stick to it.
It is true what they say: "the 3rd time is the charm." After our third attempt at attending FPU, we finally graduated. I honestly believe that most of it was due to the fact that Lisa and I had finally mastered the monthly budget. Several months before re-enrolling, month in and month out, we had weekly or bi-weekly budget meetings, always going back and reviewing our spending. This was the only way for us to truly obtain financial peace: Don't spend what you don't have and save for what you need.
2. Be prepared for mini financial emergencies once you've graduated FPU.
This list was originally put together before writing the intro to this post, but I still feel that it's worth mentioning again. Trust me, be prepared. It can and will happen. Just remember, I gave you fair warning. The rest is up to you.
3. The sinking fund is your friend, even if it doesn't seem to go towards what it was originally intended.
Stashing away a small or monumental amount of cash can really help you achieve your goals -- whether it's paying down your debt or putting it towards a larger purchase. However, it is safe to say that when Murphy comes to visit (and he will), being prepared will usually make his visits quick and mostly inconvenient at best.
4. Repairing/replacing minor plumbing is not as challenging as you may think it is.
Do your research. And remember, the internet is your friend. According to my wife, I already have ample plumber's crack, so that didn't hurt my situation either.
5. YouTube instructional videos can help you save an upwards of $275, if you allow it.
Especially dealing with home repair, they will help you build up enough self confidence to tackle what first may appear to be a major home appliance installation.
6. Make sure you know where your water heater is, and its ease of accessibility before it stops making hot water.
If you are unable to locate your water heater either in your garage, or in its own closet stored away for safe keeping, it's probably under the house. Have a plan of action when it fails. Because it will fail, most excellently, and at the most inopportune time -- usually when a guest is visiting for the weekend and the outside temperatures haven't dropped below freezing... until now.
7. Don't assume that when your laundry room floor is flooded with water that your 14-year-old washer has died and must be replaced.
Check for clogged drains and signs of a back-up first. While a drain snake and auger may be your best ally in desperate times, don't be afraid to call a plumber. There are just some clogs that you cannot clear yourself. Just remember, don't replace your washer until you discover what the problem is first.
That being said, 2013 has provided many valuable life lessons. These learned lessons I have graciously provided below.
1. You can do a budget and stick to it.
It is true what they say: "the 3rd time is the charm." After our third attempt at attending FPU, we finally graduated. I honestly believe that most of it was due to the fact that Lisa and I had finally mastered the monthly budget. Several months before re-enrolling, month in and month out, we had weekly or bi-weekly budget meetings, always going back and reviewing our spending. This was the only way for us to truly obtain financial peace: Don't spend what you don't have and save for what you need.
 |
| Even Cracked.com understands the emotional attachment to cash over plastic. |
2. Be prepared for mini financial emergencies once you've graduated FPU.
This list was originally put together before writing the intro to this post, but I still feel that it's worth mentioning again. Trust me, be prepared. It can and will happen. Just remember, I gave you fair warning. The rest is up to you.
3. The sinking fund is your friend, even if it doesn't seem to go towards what it was originally intended.
Stashing away a small or monumental amount of cash can really help you achieve your goals -- whether it's paying down your debt or putting it towards a larger purchase. However, it is safe to say that when Murphy comes to visit (and he will), being prepared will usually make his visits quick and mostly inconvenient at best.
4. Repairing/replacing minor plumbing is not as challenging as you may think it is.
Do your research. And remember, the internet is your friend. According to my wife, I already have ample plumber's crack, so that didn't hurt my situation either.
5. YouTube instructional videos can help you save an upwards of $275, if you allow it.
Especially dealing with home repair, they will help you build up enough self confidence to tackle what first may appear to be a major home appliance installation.
6. Make sure you know where your water heater is, and its ease of accessibility before it stops making hot water.
If you are unable to locate your water heater either in your garage, or in its own closet stored away for safe keeping, it's probably under the house. Have a plan of action when it fails. Because it will fail, most excellently, and at the most inopportune time -- usually when a guest is visiting for the weekend and the outside temperatures haven't dropped below freezing... until now.
 |
| "The basement of horrors will soon be ready for visitors." (Lisa's commentary on tearing up the kitchen floor in order to access the water heater in our house that was built in the 1950s). |
7. Don't assume that when your laundry room floor is flooded with water that your 14-year-old washer has died and must be replaced.
Check for clogged drains and signs of a back-up first. While a drain snake and auger may be your best ally in desperate times, don't be afraid to call a plumber. There are just some clogs that you cannot clear yourself. Just remember, don't replace your washer until you discover what the problem is first.
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