The saving power of down blankets

Little costs add up. Avoid them and you can redirect those funds toward tuition payments.

For example, a few years ago during a conversation someone mentioned they had a down blanket and thus kept their heat a bit lower in the winter.

Inspired, we researched, explored and then purchased three down blankets. This has a notable upfront costs. Synthetic down is lower cost and, importantly for kids, won’t make your nose itchy or cause an asthma attack.

This fluffy stuff – available in blankets and jackets is a magical no-power-required space heater that follows you around.

We lowered our heat from 72 degrees at night to 62 degrees with no loss in comfort. Saving 3% on our bill for every degree we lower our heat means we dropped our bill by about thirty percent. And this applies for every month of the winter. Every year. On a $200 heating bill (it’s cold where we live) that is $60 bucks each month that can be sent to the school to pay for tuition. Just with a few blankets. Passive power.

That might not seem like a lot. Learn to respect small amounts of money. When we were first scrambling to find ways to cut expenses we did research to cover the cost of private school we made a list and started going through the items one at a time for months. $60 a month isn’t a lot of money. But twenty $60 items is $1200 a month. You can do this.

 

 

How to pay for private school – the counter intuitive approach of paying more

An article on the Joshua Kennon financial blog made me rethink my entire financial approach, and for the better.  He argues that is it better to purchase higher quality items and have them last longer than to always purchase the lowest cost item.

He used the example of Allen Edmond dress shoes for those of us slogging about the office and noted that Michael Bloomberg has had the same pair of dress shoes for 25 years.

There are two concepts behind it that work together. The first concept is high enough quality to be repaired. The second concept is cost per use.

I had first noticed the cost per use factor when I purchased high quality  wood furniture years ago (on sale of course) when I moved in college. A few years in, the draw pull broke off the desk. Previously, with my half glue, half sawdust furniture, that would be it. Eventually the whole thing would get moisture in it and then crumble requiring a new outlay of cash, gas, time and energy to replace it and send the old one to the landfill.

This desk seemed, well, stable. And there appeared to be a real nail there still sticking out! Bravely, I grabbed a hammer and 30 seconds later it was fixed. This was quite pleasing to me and I recorded two points on my man card.

This sequence with the furniture has been repeated many times and it still looks great 20 years later. I would have easily have gone through 3 sets of replacement furniture during that time frame – all of it lower quality and ended up spending more money over time. My cost per use is now just a few pennies and dropping each day.

So I diligently checked my expenses for the last few years on that shoe question. Couldn’t be much right? My lower cost shoes treads wore out often making them dangerous in wet weather and junky looking. I was stunned to see an annual outlay of $200 for a set of shoes (a black pair and a brown pair). Over ten years I had dropped $2000 on work shoes alone. What? And attempts to re-sole them as part of us trying to pay for private school (cut all the expenses was our mantra!) failed as the fine cobbler declared them to be too low quality to repair. Compare this to the Allen Edmonds which uses what they call Goodyear welting that enables them to repair and restore shoes repeatedly.

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Allen Edmond shoes By OlafJanssenOwn work, CC BY-SA 3.0, Link

Indeed, they offer a repair  service and have a fancy name for it: recrafting. As an extra bonus they are made right here in the USA so I am supporting local companies.

This in turn results in a longer life for the shoe. You end up wearing a higher quality shoe that costs less per wear over time. Indeed, my fancy shoes have already lasted longer than my previous set would and, at this point, have paid for themselves.

Change your mindset from cheapest item on sale to cost per use. As a delightful side effect you will send less stuff to the land fill (your an environmentalist now!) and spend a lot less time replacing your stuff.

 

You can do this.

The Informed Electorate

On Tuesday November 8th, Donald Trump was elected the 45th president of the United States by winning the required electoral college votes with a separation of only 112,000 votes.

It was a contentious election cycle with harsh words and harsher accusations flung by all parties.

Despite which side you were in favor of it is clear that the election was close, complex and nuanced.

Thomas Jefferson once said that “An educated citizenry is a vital requisite for our survival as a free people.

An educated citizen starts with the education of children where a diversity of thought and training only enriches the discourse. Your job, with the help of others, to educate your children.

If you are considering, or already sending, your children to private school – great job! On paying for private school we discuss motivations, financial approaches and the down sides of electing to send your child to a private school.

By Ali Zifan, via Wikimedia Commons