Comments on: Monthly Bill Reduction – How We Did It

By: Mark Krusen

Mark Krusen — Mon, 14 Apr 2008 16:39:33 +0000

The most important thing your doing is tithing. After that is when you see the blessings. IMHO. Mark Krusen's last blog post..Not Justa nother road trip

By: My Dollar Plan

My Dollar Plan — Sat, 12 Apr 2008 20:19:30 +0000

Congratulations!!! I think education is crucial and commend you for funding a 529 plan for your kids. And great idea to dump the whole life policy when it didn't make sense for you. Keep up the great work! My Dollar Plan's last blog post..$25 From Revolution Money Exchange

By: cristan

cristan — Sat, 12 Apr 2008 20:09:33 +0000

Hey Jaynee – I think it’s awesome that you’re getting back on your feet. It’s a bitter pill to swallow, I know, but so worth it!

I don’t know if Clark Howard’s radio show is broadcast in your area, but he always tells people to pay off their own consumer debt & save for retirement BEFORE saving for college. 1) The child may not be interested in college, and 2) he or she may get a scholarship, and 2) he or she has many more years ahead of them then you do…presumably. He has a really great website, too.

cristan’s last blog post..On vacation, in the library

By: Jaynee

Jaynee — Sat, 12 Apr 2008 14:45:44 +0000

Thanks for the backup, Ron! I have mentioned money market funds to my husband as a possible alternative to putting the kids’ savings into a regular svgs account.

By: Ron@TheWisdomJournal

Ron@TheWisdomJournal — Sat, 12 Apr 2008 14:08:28 +0000

Wow Jaynee, neat story!

Note: Don’t listen to those who think you should invest regardless of whether the market is tanking. Let them waste their own money. Me? I’ve moved into money markets and have managed to prevent a significant loss. Once I see stability again, as easily defined by about 5 technical indicators, I’ll make the move back into equities.

Try reading Phil Town’s book Rule #1 and this post at Early Retirement Extreme:
http://earlyretirementextreme.com/2008/04/the-major-risks-of-buy-and-hold-index-investing.html

By: Craig

Craig — Sat, 12 Apr 2008 03:16:58 +0000

You are trying to time the market with respect to the 529 plans. The best time to buy is when the market is down depending on the age of your children. In a nutshell you are accumulating units. If a unit is at 5 currently when the market is down you’re better off buying rather than waiting till the unit “stabilizes” back at 8 or even 10. You get more units for your money.

If your kids are close to college it would be a different story.