This weekend was the annual pinewood derby race with the kids for Adventure Guides.  Lucky me, I have another car to build for my son for cub scouts in the coming weeks since he insists on doing both.  Anyway, this was the third year with Adventure Guides and our cars have been pretty bad in the past two years.  I felt bad and now that it’s third year (and his little brother has joined as well), I wanted the boys’ cars to do a little better.  Well, after talking to some of the dads who take this stuff pretty seriously and doing some trial and error, we were able to get both cars into the finals!  That was a first, so they made about top 12 out of 80 cars.  After having crappy cars and decent cars, here are a few tips and tricks to winning the pinewood derby that I can pass on:

Pinewood Derby Car Tips and Tricks

• I’ve found that the wheels matter much more than the aerodynamics of the car.  So, if you have to focus time and attention on one over the other, focus on the axles, wheels and whatnot and don’t stress if your car isn’t perfectly sanded or your son wants to put a Lego guy sticking out the top.
• Most of the winning cars end up being very thin and/or wedge-like.  They end up stacking on a ton of weights to make up for the wood they’ve chopped out.  I’m not sure why this matters, as mass is mass, but I suppose perhaps it’s more rigid that way since the wood is pretty flimsy and the weights are metal.
• I’ve found that winning cars tend to have the weights stuck toward the back of the car, as opposed to the front.  Again, I don’t why this matters, but they all swear by it and the winning cars tend to have that pattern.
• The wheels and axles!  This is huge.
• And this is a little tidbit you’re not going to get anywhere else!  I took a snapshot of all the winner’s circle cars just before the start of the finals.  You can get a look at the undersides of all the cars, designs, weight placements and perhaps look really cool in front of your son for coming up with an awesome design!  Enjoy!

The Winner's Circle!

Do You Have Any Pinewood Derby Racing Tips?

While the headlines portend doom and gloom in the housing market, the reality is, it might just be the right time for you to buy a home or refinance regardless of whether we see another slight decline in home prices or a flat market for years to come.  After all, who’s really buying a home these days for capital appreciation?  It just makes sense for people who are very confident that they will not need to move in the near-term and don’t want to keep paying a landlord’s bills for them.  Assuming you qualify from both a down payment and credit standpoint, there are many mortgage options out there and it can be confusing figuring out which one is right for you.  Very much depends on your personal situation, so using a calculator mortgage t provide you with options and monthly payments, you can make an informed decision.

• 30 Year Fixed – This is still the most common mortgage type in the US.  What I like about the 30-year mortgage is that you allow the present value of money to work for you.  You’re able to borrow money at an extremely low rate (low 4%) while inflation is around 3%, so you’re virtually borrowing money with no interest in terms of “real” dollars.  The only downside is that a lot can happen in 30 years.  You may eclipse into retirement or have to start paying for college for the kids, so that’s where the next one might make sense.

• 15 Year Fixed – This is another very common option, and given the shorter term, the interest rate is also lower (banks tend to view longer durations as higher risk, hence the higher interest rate.  You’ll always see this in the bond market as well, except for very low probability “inverted yield curve” situations leading into a Recession).  You can get a 15-year fixed for 4% or lower these days.  Many people like this option because it may coincide with retirement if they’re in their 30s or 40s or college payments.

• 5/1 Adjustable Rate Mortgage – This one’s a bit risky these days in that interest rates don’t have much lower to go – but have plenty of room to rise should inflation take hold.  So, you can probably get a very low rate for 5 years, but after that, the contracts are typically structured to allow up to 3 increases of 2% each once per year after the initial 5.  So, if you can’t refinance into a conventional loan down the road, you may well end up with a 10% mortgage rate.

Aside from the ones listed above, there are several others, as well as combinations of the above, but these are the primary ones buyers are entering into at the present.  Depending on which country you live in, there are other numerous types out there and tools to help, like this buy to let mortgages calculator for UK residents.Thankfully in the US, we’ve very much seen the demise of the “option ARM” mortgage which got so many people in trouble leading up to and during the housing collapse.  With those mortgage, people were able to start off with “teaser” payments that then reset into much higher payments (with interest!) after just a few years, causing many people to just walk away from their mortgages when they realized their mortgage amount owed actually INCREASED while their home values declined, leaving them with 6 figures in negative equity.

Well, here we are with another Halloween just around the corner.  Last year, my wife came up with the idea of dressing the whole family up in the Wizard of Oz theme.  We had a new baby girl, so she was Dorothy.  My wife was the witch (totally fitting).  I was the scarecrow and my boys were the tin man and lion.  It was pretty funny; we definitely have pictures from last year.  This year, we’re going with a bit more of a random theme.  After having 2 boys donning mummy and gremlin costumes in previous years, now with our girl, (and my wife’s Wizard of Oz dream out of the way) the attire is taking on a whole new direction.  My wife started taking inventory of what the other little girls in the neighborhood will be wearing for Halloween.  This year, there seems to be a trend toward fancy dress outfits.

Our one friend’s family is doing the retro thing and going with a 70s fancy dress theme for Halloween.  Another one is doing the roaring 20s.  In our house, we were kinda leaning toward a witch for our daughter, because that’s how she acts sometimes.  She’s only 2, but she’s real good at the “hee-hee-hee” expression.  So, torn on whether to go with the trend this year on fancy dress outfits or do our own thing – or whether it even matters.  The boys always seem so much easier – while even stranger.  Out of nowhere, my one son wants to be a warlock, which I’m not even sure if he knows what that means.  And even stranger, my other son is insistent on the Swamp Monster.  I don’t know what that is really, or where he got the idea, but that’s his dream costume for the year – the Swamp Monster.  So, he’ll be green with stuff hanging off him.  I think after last year’s getup, I’m off the hook for dressing up.  I’m sure by next year my wife will think up a family theme again though; until then, I’ll enjoy a Halloween in normal clothing.

What Are Your Kids Doing for Halloween This Year?

This summer, we finally gave in and let our son get a hermit crab at the shore while on vacation.  Each year, we found some excuse to disallow based on his age, his behavior or otherwise.  This year, he’s grown more mature and responsible and was a great kid during vacation, so we said fine.  It’s turned out well so far – he plays with them every day, feeds them, cleans them and he’s very compassionate toward his little buddies.  During casual conversation with some parents of kids in his class, we became aware of a rather bizarre and cruel practice IMO.

Apparently, all kinds of parents do the hermit crab thing each summer, and they do it EACH summer because come spring, there’s no more hermit crab in the house.  Where do the little critters go?  Well, these parents (and this is more than 1 family, and not in a coordinated fashion, so I don’t know where this bizarre ritual came from) wait until Christmas each year and go and put the crab out in the snow to freeze to death.  Aside from the fact that this is cruel and unnecessary, what kind of message is this sending to children?  It’s OK to torture a small critter to death?  So, it’s also OK to stomp a cat or light a dog on fire?  As kids grow up and engage in more reckless behavior, if they don’t have the right baseline on how to treat other people and animals, later in life, the swings in how they behave toward others grow wider and wider.  While I did a lot of stupid, risky stuff as a teenager, I never exhibited any form of animal cruelty, I wasn’t raised that way.

Even though they’re “just hermit crabs”, there were a pet.  It’s not like killing a spider; these were purchased domesticated pets that children cared for and played with and then were killed for no apparent reason – then purchased again to repeat the cycle.

Can anyone enlighten me on whether this Christmas ritual is an American tradition and where it came from?

And do you think this is acceptable?

At this time every year parents throughout America are all constantly hearing the same requests from their children ahead of the new school year.

Often, it is for new school items, such as bags, books and laptops or the latest designer trainers so they can make an impression come the new semester.

The cost of these items, especially during these difficult economic times, can mount up. On top of everyday living, it’s often a real stretch for most families.

If you find yourself in this situation, don’t despair! There is a middle ground where both you and your children can be happy. Firstly, it is a good idea to take stock of your financial situation.

With the hectic pace of everyday life, you may not have looked at your income and expenditure for a while. Use a mortgage calculator to help double check whether you can access a better rate of interest.

A mortgage calculator may help you free up other money to purchase much-needed items, such as new shoes or bags. However, don’t feel that you are obliged to buy the highest priced goods.

Children do not really understand the value of money, so the difference between a good and great pair of sneakers to them may be the money for the fuel bills for you.

Explain to them that there is a limited pot of money and that you have to purchase so many items. If they are older children, make it a challenge for them.

Getting them involved with the process can help them learn valuable life lessons, that you can’t always have everything you want all the time. This may help them avoid excessive debts in the future.

Allow them the choice to purchase the sneakers they want but ensure they know this will leave less for a good school bag. This will help them to understand how budgeting works.

Other ways of cutting back on school spending include taking advantage of special offers from retailers who offer deals such as 2 for 1 on clothing ranges.

If you have more than one child, this will be of valuable help. If you have one child, use this offer to buy items in the bigger size for the future.

Also, check the retailer’s website and local free papers for money-off vouchers. These coupons may only be for small amounts but these will add up and make great savings if you use them wherever you can.

You may even wish to join a coupon site, which gives details of all the promotions, discounts and money-off coupons that are available. Many parents have found these to be very worthwhile.

Additional ways to cut back on spending include swapping and recycling items within your network of family and friends who, rest assured, are facing the same issues as you!

You can reduce the back to school spending spree with some smart thinking around money and resources. Check your finances, use the mortgage calculator and help your children understand the value of money.

As the end of summer looms before us, countless parents across the country are struggling to obtain back to school supplies for their kids. When classroom supply lists are long and bank accounts are coming up short, buying your child’s back to school needs can be a problematic.

To stay within your back to school budget, create a school supply shopping list and don’t deviate from it.

Don’t succumb to impulse purchases; no matter if you find a great bargain on the clearance rack or your teen swears she absolutely needs the more expensive jeans. Stick to your guns.

If you can, shop earlier in the summer to spread the purchases out. You may not know all the classroom requirements ahead of time, but you know your child needs pencils, paper, pens, a notebook, etc.

Take advantage of any tax-free weekends. These generally occur toward the end of summer around the beginning of August. While not all areas participate, you want to shop during this weekend if yours does. Tax adds up.

Look for back to school coupons in your weekly newspaper or on store websites. You can print them out directly or use mobile coupons to save money.

Shop for trendy clothing at discount stores instead of department stores. Trends are always more expensive when they’re hot, but discount retail chains usually have their own versions and nobody will know the difference but you.

Take advantage of your neighborhood thrift store. Some consignment shops only accept gently used, like-new clothing, so get more for less money. You can also find backpacks and other items at thrift shops.

Look for online deals and shop from home. You can avoid the traffic and crowds by taking advantage of online store sales. Most offer free shipping around back to school time and you could end up saving as much as 25% compared to shopping the brick and mortar store.

Keep those supplies simple. It may be cooler to carry a zip-up notebook with hidden pockets to school, but a standard three-ring notebook will be significantly cheaper. The same goes for generic-looking notebooks and pencils. Never pay more for a design or brand name if you can have something just as functional for half the price.

f you’re still pressed for cash, shop with a credit card. Keep the balance under your budget to avoid racking up the debt.

For those with less-than-perfect credit, consider applying for bad credit credit cards. Almost anyone can qualify and even bad credit credit cards make buying back to school supplies easier on your wallet.

If you have more than one child, take them shopping separately. It’s easier to keep track of purchases without a crowd and it gives you a better chance to spend some quality one-on-one time.

Don’t forget to reuse any leftover supplies from last year, or any second-hand supplies from an older brother or sister.

You can even ask friends and family for leftovers or make exchanges to help everyone save money.

If you need to buy new back to school clothes, hold off doing so until after school starts and the Labor Day weekend sales begin.

Our 7 year old was finally released from the hospital today after a bout with viral meningitis.  There are stark differences between the bacterial type and viral one.  Bacterial is more rare but often deadly.  The viral type can be caused by any number of initial viral infections.  So, today when his spinal tap revealed no presence of bacteria, it was clear to them that it must have been viral.  He’s running fevers still as well, which indicates viral since a bacterial infection would be expected to see fevers decline with continued IV antibiotics.

How To Know If Your Child Has Meningitis

Kids get fevers all the time, so it’s tough sorting out why they have a fever and whether it’s a cause for concern.  In our case, our son was complaining of a sore neck.  This is a tell-tale sign, especially in children.  Immediately, my wife brought him in to be checked out and they confirmed he had the symptoms of meningitis, which is a swelling of the meninges which is the sack surrounding the brain.  Often times, with bacterial meningitis, a child can be brain damaged or killed within a day, so it’s critically important to spot meningitis quickly.  In the case of viral meningitis, there isn’t really much they can do since viruses don’t respond to any existing treatments.

Another sign pointing toward viral meningitis for our case was the fact that our other children had coxsackie flu the week prior.  Even though our 7 year old showed no symptoms, upon researching further, we read that “enteroviruses” like coxsackie flu often result in viral meningitis later.

So, he’s home, we’re glad.

Summer is here and the kids are out of school. As a parent, you may be wondering just what you are going to do! Instead of struggling with a loan calculator, trying to figure out just how you are going to pay for the summer holidays and all the activities around you, consider doing some things that don’t cost much but may create a lifetime’s worth of memories for you and your family!

Of course, if you do need a little extra cash to cover these excursions, a loan calculator will be just the thing to break down how much you will be paying.

Get Outside.

If the weather is nice, there are tons of things to do outside that aren’t going to cost an arm and a leg. If you have room in the backyard, get out the bikes and the toys and let everyone enjoy some fun. When parents get in the middle of the game and begin to spend time with the kids, it is a win-win situation.

If you don’t have a lot of room around the yard, take the kids out the park. Let everyone bring along a bike, a ball, or even a kite and spend a few hours playing around.

Most parks are open to the public and have playground equipment for the kids to enjoy. They will wear themselves out from all the play and you may get a little bit of relaxation in while they are taking a nap.

Look for Deals.

Every local area has some type of deal going on for the summertime. They know parents have the kids back at home and some are panicking with what to do with them. Look for specials at places like movie theaters or bowling alleys. Many offer prepaid deals, such as discounted tickets throughout the summer when you purchase them in an advance package.

Amusement parks or theme parks also run coupons and discounts for residents in the area. If you haven’t been to the zoo in a while or haven’t spent some time on a roller coaster lately, pack everyone up and head out for the day.

Educational Experiences.

Even though school is out, you don’t want the kids to stop learning. Check your local library to see if there are any incentives for kids to keep reading during the summer holiday. You might find that if the kids know there is a prize to be won, they may look forward to spending 30 minutes a day reading.

Bookstores also tend to run summer promotions. Kids may get a free book if they read a certain number of books or for a certain number of hours. Regardless of the promotion, the kids will be busy reading and you can plan an outing to pick up their prizes.

Keep them Busy.

Regardless of the option or options that you choose, the key to surviving the summer holiday is keeping the kids busy. Even if you are staying at home, provide lots of different activities and keep them busy. The worst thing you can hear is, “I’m bored!”

The Cost of the Summer.

If you are worried about finances, you may be thinking about taking out a small loan to cover some of these expenses. If this is the case, check a loan calculator to see what you would be paying per month and how long it would take you to pay it off. It might be worth it in the long run to have a little extra cash on hand.

With college tuition rising every year, it’s a good idea to begin saving for your child’s educational future while he or she is still young. The sooner you begin saving, the less you’ll have to pay out of pocket when the big day arrives and the less debt your child will accumulate by way of student loans.

Younger children are not concerned with the thought of college just yet, let alone the differences between types of higher education institutions.

While it’s possible your child will decide on a community college or technical school, the reality is that a private university’s name may be gracing a bumper sticker on your car someday.

Experts are predicting that by 2021, a four year degree at a public university will run about $95,000. Private universities will cost more than twice that.

The first step is to estimate how much money will be needed for your child’s education. Consider current financial aid possibilities first. Most students will qualify for government aid. These include not only loans, but grants that will not have to be paid back.

Once you make a rough estimate, plan on setting aside money each month. You could consider a regular savings account, preferably one with a higher interest rate, or specialized plans such as a state-operated 529.

A 529 is a special savings plan that allows your money to grow completely tax-free. They are also known as qualified tuition plans and there are two types to choose from.

A pre-paid tuition plan allows you to buy credits or units with participating colleges that go toward future tuition. These plans come with residency requirements and may not work if your child decides to attend elsewhere.

A college savings plan is the second type of 529. These plans allow the account holder to establish the account in the student’s name for the sole purpose of covering college expenses. Investment options are also available with this plan and there are no residency requirements.

If you find yourself without the luxury of starting early, consider all financial aid options wisely. Most student graduate college deep in debt and end up working the next ten or twenty years just to pay down the cost of education.

Last-minute options may include credit cards to pay for books and other college-related expenses prior to financial aid reimbursement. If you have had past problems, there are credit cards for bad credit that can help alleviate the burden.

If you still have a few years before your child graduates high school, compare different savings plans now and get one started as soon as possible.

Even if you can’t afford to put back enough money every month to cover the entire cost of a four-year degree, you can easily save enough to cover book and supply expenses.

If your child has his or her heart set on a public university, talk about the advantages of earning a general associates degree first at a local community or junior college. At a community college, students can complete all general education requirements for minimal costs and still transfer to their universities of choice.

Have your child apply for a credit card and teach him or her how to use it responsibly. While most high school graduates have not built up enough credit to qualify, there are low-balance credit cards for bad credit available.

Even if your child is still an infant, it’s a good idea to start setting aside a certain amount every month. It’s never too soon to start.

So, we went to two different fireworks shows this year.  One was in our hometown and then this weekend, our friends in another state had us out for their town’s fireworks.  I’m used to fireworks starting late, as nobody can ever seem to get it together, but this year in North Jersey was outrageous.  The stated start time was 9:30 PM which is already pretty late considering most people bring little children and it’s dark before 9.  Well, these fireworks didn’t go off until 10:15PM.  That’s absurd.  They went until past 11.  So, we got home pretty late, but I can’t help but wonder, why can’t any fireworks show ever go off on time?

It’s the Same Show Every Year!

You would think these towns that hire these contract fireworks outfits or the fire departments – they basically have the same routine every year – forever.  It’s the same personnel setting up, rehearsing, lighting the fireworks, etc.  If you have an entire year to plan for something and say 9:30 start, why is it so difficult to start at 9:30?  I just don’t get it.

Is It Still a Recession?

The other thing I’ve noticed over the past few years is the fireworks shows are getting increasingly shorter (and less impressive).  Maybe it’s me just being an old fart and as I age fireworks just aren’t as big a deal, but it seems like the shows are getting less and less impressive.  One has to question whether it’s municipalities cutting back on their entertainment budgets.

Oh well, not to sound ungrateful; we do enjoy the shows.  But if they could at a minimum, start on time, I’d be much more impressed.