[speaker001:] Okay, so do you all keep a budget?
[speaker002:] No, we don't.
[speaker001:] You don't?
[speaker002:] No, I, I make so much money here at T I that, that we just spend it.
[speaker001:] [LAUGHTER].
[speaker002:] And we never have a problem meeting it from paycheck to paycheck. It's pretty neat being that independently wealthy and working for a major semi-conductor firm, you can just spend it well.
[speaker001:] Are you being smart, or are you serious?
[speaker002:] I'm being facetious. I'm being very comical. Uh, we have a budget, um
[speaker001:] Uh-huh.
[speaker002:] that works well. I kind of look at it for more of a, we have a financial, uh, analyst, a finance administrator, I guess, that, that, uh, I guess the financial planners, the training now. We've had it for about four years here.
[speaker001:] Uh-huh.
[speaker002:] Got our businesses and, and, and our life in line, how to manage credit cards, how to put away, say for, you know, money markets and this kind of thing.
[speaker001:] Yeah.
[speaker002:] And, there's some freebies out there are you should put ten to fifteen percent of your monthly bring home
[speaker001:] Uh-huh.
[speaker002:] in some sort of savings account.
[speaker001:] Yeah.
[speaker002:] That being money market, uh, bonds,, savings, uh, or just a liquid account
[speaker001:] Uh-huh.
[speaker002:] which, which we do. Um, you should always have three months of your salary in a savings account in case there's a major need for that.
[speaker001:] Uh-huh.
[speaker002:] Okay. You should always have an umbrella permit that bridges your life insurance and your medical and your, uh, uh, car insurance in case you run into a lawyer and you break his arm. He's going to sue the pants off of you. These kind of things are about a hundred dollars a year. So
[speaker001:] Uh-huh.
[speaker002:] you know, these are all equivalent to the monthly budget things. Some of them are there to pacify situations. And some of them are there to prevent things from happening.
[speaker001:] Uh-huh.
[speaker002:] But, uh, I guess we kind of got away from about the last sixteen months as far as saying, two hundred dollars for food and three hundred dollars for this and two hundred for that because we had a child which is about a year old, and then
[speaker001:] Uh-huh.
[speaker002:] uh, we've just been kind of working on, I've been developing it, but it's kind of hard. Diaper prices are going up, you know, and formula and stuff, you know.
[speaker001:] Uh-huh.
[speaker002:] [LAUGHTER].
[speaker001:] That's funny. Yeah, we have a, we're twenty eight, and he's been working at T I for five years, and that was pretty much his first real, really major job of any, you know, professional, because he had worked, you know, part time during school and what not, and, uh, he was a little late graduating, so we're, you know, uh, and we have a nine and a half year old son, and it's because, you know, we were eighteen when we had him, so, we're, we're kind of looking at this from the other aspect of,
[speaker002:] [LAUGHTER].
[speaker001:] we, you know, we have a lot for, to be our age and, you know, just everything, and having the responsibilities we've had on us for, at such a young age. You know, we have a, like a nice house. People, you know, are really shocked at how nice everything is in our house. But, we don't, you know, live in a brand new house, either, maybe a ninety, hundred thousand dollar house
[speaker002:] Uh-huh.
[speaker001:] but we're in a thirty year old house that would probably sell for forty-five thousand.
[speaker002:] Uh-huh.
[speaker001:] So, you know, we have trade-offs. So we're more, we have a monthly budget with this, this, this, this. But, we have no savings, which isn't real wise, but we just, we don't have the income at this time really to have any, because we have three debts that we're trying to pay off from both of our student loans. We're still paying
[speaker002:] Uh-huh.
[speaker001:] trying to pay those off. And we have one car payment that we don't, I think we have about thirteen months left on it.
[speaker002:] Uh-huh.
[speaker001:] And after that, we either, what we want to do is begin doubling up our car payment, um, they'll pay, our car payment is equivalent to both of our student loans. So what we want to do is next year keep driving the same cars and, um, pay on the student loans, split that car payment in half and pay, you know, double up payments on both our loans. And it'll work out perfect.
[speaker002:] Do you have your, uh, loans through the Texas Credit Union?
[speaker001:] No, we don't.
[speaker002:] Okay. Thing about the credit union is, it's, the way it's set up is if you have two thousand dollars left, let's say, on, on the loan.
[speaker001:] Uh-huh.
[speaker002:] If you go up there and write them a two thousand dollar check it doesn't all go towards principal.
[speaker001:] Uh-huh.
[speaker002:] They take out for the, for the finances
[speaker001:] Uh.
[speaker002:] the finance charge, which is kind of, you know, it's like one of these lose or swim type of credit, one of those loans is. Not really the best in the world, but.
[speaker001:] Uh-huh.
[speaker002:] But, you know, they're, uh, since your husband is, is, is, um, a T I -er but doesn't have the loans with the credit union, they're offering something that might be worth
[speaker001:] Really.
[speaker002:] taking a gander at. I don't know what your percent is on your, on your car payments
[speaker001:] Uh-huh.
[speaker002:] but they are, they'll take any T I non-credit union loan
[speaker001:] Uh-huh.
[speaker002:] like if you have a fourteen percent loan for a new car.
[speaker001:] Uh-huh.
[speaker002:] They'll take it and refinance it and put it with Texas Credit Union at I think it's a ten and a quarter percent.
[speaker001:] Oh, really.
[speaker002:] Which is not a bad deal.
[speaker001:] Uh-huh.
[speaker002:] One of the secretaries we have down here is paying twelve percent through G M A C or something.
[speaker001:] Uh-huh.
[speaker002:] And she's doing it. I mean, it's not like, it's like.
[speaker001:] Does she have to pay to have it refinanced?
[speaker002:] I think they even cover that because they want you
[speaker001:] Uh-huh.
[speaker002:] as a
[speaker001:] T I -er to,
[speaker002:] they want the T I -er to be part of the credit union.
[speaker001:] See, we got ripped off buying our new car. We both come out of, uh, drugs and stuff, and we became Christians about five years ago. Right when he got home from Terrell. Right before he got hired for T I, he had gotten saved and stuff, and so, I mean, when you get come out of drugs and stuff, you have nothing, I mean, you know, you don't have anything. You have the clothes on your back, and you might have a car, and that kind of thing. And so, when he, when he started working at T I, we, uh, you know, we really felt like God told us to buy a new car because he had an older car that was going to need to be fixed and high gas. But we got ripped off on it because we wanted it financed at four years, and we were young and we'd look about nineteen. People still think we're about, they ask us where we go to high school when we get our hair cut and stuff, both of us.
[speaker002:] [LAUGHTER].
[speaker001:] And so, it's just kind of strange, you know, so five years ago we probably looked like real ding dongs, you know.
[speaker002:] Yeah.
[speaker001:] So we went in, and the financed the car for five, and we didn't know that. We got kind of taken, just a little bit. So we're kind of upset that we're having to, you know, pay this fifth year on the car, because it was just not a wise thing. But we learned a good lesson. So, you know.
[speaker002:] Well, five years is not that, uh, five years is not that bad of a problem only because you're paying more interest, but your payments are lower.
[speaker001:] Yeah, but they, they would have only been about twenty dollars a month higher, and he want-,
[speaker002:] Oh, really.
[speaker001:] Yeah, he just told me this last week that he, he said, don't you remember I asked them to finance it at four years and they came back and they said that they had it figured for five and we'd already signed the papers. And I maybe, I might have been there. I don't remember hearing that. But, I also wasn't the one in charge of it, so I wasn't paying as close of attention.
[speaker002:] Sure.
[speaker001:] But, anyway, instead of putting our foot down about it, we just went, okay, whatever, you know. So anyway, so next time we'll do that different. We want to next time pay cash for our car, too. We want to pay cash for everything we can possibly do. When we buy a house, we attended a Bill financial seminar, and he has a lot of wisdom on that, just on Biblical, you know, principles to
[speaker002:] Uh-huh.
[speaker001:] finance. He runs a big, the largest real estate company in Fort Worth debt free. And we really believe in debt free living and debt free car buying and debt free house buying. And if we do take out a loan on a house in the future, what we'll do is pay twice a, twice a month on it, and, because you save a lot in interest, just doing that.
[speaker002:] Yes.
[speaker001:] And then,
[speaker002:] You save a lot.
[speaker001:] Right.
[speaker002:] If, if, if, if, and you need to be very careful, if the loan is set up to have bi, they call it a yuppie loan, if it's set up for bimonthly
[speaker001:] Right.
[speaker002:] payments. If you, because you'll save fifteen to seventeen years off the end of the loan.
[speaker001:] Right.
[speaker002:] Sev-, I'm sorry, seven to nine years off the end of the loan.
[speaker001:] Right.
[speaker002:] And there are, there is a local firm that'll actually, if, if, like in my situation, I don't have that, because the loan was not available. I can have, this firm will pick up my loan for a six hundred fifty dollar fee. So I can cut that much off the end of, but I'm not interested because we're moving out of the house next year.
[speaker001:] Oh really.
[speaker002:] Yeah. But, uh, those are all great.
[speaker001:] Uh-huh.
[speaker002:] The, the interesting thing, we're getting ready to have a house built
[speaker001:] Uh-huh.
[speaker002:] it's not, a lot of the firms that offer, mortgage loan firms, aren't offering, um, that loan.
[speaker001:] Uh-huh.
[speaker002:] You can ask and you can wheel and deal, but it's not as
[speaker001:] Yeah.
[speaker002:] open as it should be. It's a great idea. Hell, I'd love to cut ours in half, but, uh
[speaker001:] Uh-huh.
[speaker002:] man. And if you figure, get with a financial person.
[speaker001:] Yeah.
[speaker002:] And you can figure up exactly when like the eighteenth month of a loan, if you make like a four hundred dollar payment over and above your house payment
[speaker001:] Uh-huh.
[speaker002:] it'll make, uh, it has a magic with numbers. It, I, it'll shave almost, you know, X number of dollars off,
[speaker001:] Right. Yeah, we real-, we've become aware of that. We have a, there's a loan officer through our church, too, that I think could help us better. You know, he does that full time with the bank, you know.
[speaker002:] Uh-huh.
[speaker001:] And so we're going to use people that we're in a relationship with that we know, that, you know, we know are people of integrity. So.
[speaker002:] Sure.
[speaker001:] You know, that is another thing that, you know, we feel like our long term goal is going to be benefitted by next time we buy a car we're not just going to go to Toyota of Irving, you know, we're going to go to somebody that we know, we're going to take someone with us older, and we didn't do any of those things.
[speaker002:] Somebody you trust. You know, there are so many rip-off artists here in this town. It's, it's, uh, it's really a sin, it really is.
[speaker001:] Yeah.
[speaker002:] I got taken on some fire-, on firewood.
[speaker001:] Really.
[speaker002:] I mean, uh, uh, the guy shorted us a half a cord of firewood, and my wife didn't know, and I stopped payment on the check, and he'd already been paid by a cashing firm. And, and they're suing us, they're suing me on this, and it's for a hundred and thirty-four dollars.
[speaker001:] Oh, my.
[speaker002:] Absolutely pathetic.
[speaker001:] I stopped payment on a check. Oh, that's funny. Oh, this last week, we bought a sewing machine at Zak's, and then I found that you could get the same machine better for less locally. Not much less, but it was enough less, and I found they locally serviced it. And we just stopped payment on the check. So I hope they don't sue us over it [LAUGHTER]. But we never received any merchandise either, so I don't think it would hold any-,
[speaker002:] Oh, okay, well
[speaker001:] Anyway.
[speaker002:] probably something like that, did you call them and tell them you just, you just.
[speaker001:] No, we didn't even call them. We just did it. Maybe my husband should call today.
[speaker002:] Might be a good idea, because you're going to get, what, a, a check,