Time for The Talk. No, not the kind of “talk” you give your kids when they’re young. This talk is about their finances, and final wishes. Yeah, that’s a tough talk to have. And an even more difficult one to start. “Hey, let’s talk about what’s going to happen to you and your finances when you die”. Depending on your parents, that might just work.

For my own personal situation, I was pretty fortunate. My mom – who basically manages my parents’ finances and such – really just started talking about it one day. She already had plans of adding her children to titles and accounts, power of attorney, DNRs and such. She said she has it covered and gave us any info we would need at the time. Nice! Where’s my EASY button?

Read More →

Share

The weekend is here! It’s going to be a beautiful weekend here in Chicago. I’m hoping to get out and enjoy it with some early morning bike rides.

Untitled-1

If you’re located in the west ‘burbs of Chicago, one of the early suburban “summer” fests kicks off, Taste Of Glen Ellyn. We’ll be taking it in at some point this weekend.

What are you up to this weekend??

Extrapolate This! - Weekly Roundup - 515 to 521

Things You Do That Annoy Your Coworkers

Do You Have Unclaimed Property?

Illinois Property Taxes

Do You Suffer From Lactose Intolerance?

Share

Seems kinda crazy to me to lose track of an account you may have opened, but it happens. Or sometimes a relative leaves you money you know nothing about. Both happen more often than you think; so much so that all the states have a way for you to check if there’s money out there waiting for you. All you have to do is visit your State Treasurers’ website. You see, all unclaimed property has to be reported to the state Treasurer. The state Treasurer then does what they can to connect the dots between people and their “lost” money.

Here in Illinois, we have ICash. Just Google your state treasurer – for example, Illinois Treasurer or Illinois unclaimed property – and there will likely be a link to an unclaimed property search on the main landing page.

Check it out, you never know. Especially for those who have had loved ones pass away. Be sure to search maiden names as well.

Good luck!
Joe-
unclaimed property - extrapolate this

Share

Illinois Property Taxes

If you don’t live in Illinois, you may or may not be aware we Illinoisans have the distinction of having the highest property tax rate in the country. It’s downright ridiculous, there really is no other word to describe it.

I don’t often get into specifics of expenses, but seeing as property tax info is a matter of public record (as long as you know an address), why not.

Our property taxes for 2015 were $5,788. That’s right, nearly $500 a month goes to property taxes. I’m willing to bet that the majority of people reading this are thinking WTH? Unless of course you own a house in Illinois, then you understand. The killer part of the taxes we pay is that we own a town home. That’s right, we don’t even own the property our place is on. Better yet, we pay more in property taxes than the house around the corner from us, in the same township. Makes a whole lot of sense, right? It’s enough to make your blood boil.

If I could change one thing about where we live, it would be the property taxes. The rates are just idiotic. Now, the majority of our taxes goes to the school system. While we haven’t/won’t take advantage of using the schools here, I understand there is a benefit when we sell our place as the schools here are really good.

The counties need to find ways to reduce property taxes. It just isn’t right that a person could seriously end up paying more in property taxes over their lifetime than their mortgage or home value. There must be other ways to cut expenses or have other pension options for village/city workers. I know that last one about pension reduction isn’t a popular idea. But people need to understand that pensions are bankrupting cities across the country. Again, I’m not suggesting getting rid of them, but instead finding a different option that won’t bankrupt a city or cost taxpayers an arm and a leg.

Joe-

Share

What a first week of May it’s been. In typical Chicago fashion, the spring weather is going back and forth from cool and fall-like to the 80’s. Looking forward to some warm days to come.

So far our experience with Ting Wireless couldn’t be better. It’s only been a month, but we’re really pleased. Read all about it and our savings in Nicole’s post about it here or below.

Happy Mother’s Day to all you moms out there!


DIY Oil Change – Is It Worth It?

Our First Month With Ting Wireless

Magicjack Review – Landline Or No Landline?

Joe-

Extrapolate This - Weekly Roundup

Share

We bought my vehicle, a 2008 Ford Escape, brand new. That’s her below, right before driving it off the lot.

Joe's Top 5 Albums - 1985-1989

It came with the first year of oil changes and like a dutiful new car owner, I took it into the dealership right on the mark. I would still get a receipt from the dealer, with the cost marked down to $0.00. But the $34.99 cost of the oil change they were charging got me wondering if I should be doing it myself.

Let me back up a little (while). My dad used to own his own service station – that’s what we call a gas station today. Back then they would provide service for any needs your car had, including maintenance. My dad was a mechanic for many years. Growing up I can remember spending time with him in the garage or in the driveway watching and *helping* him when he was working cars. It didn’t seem like much at the time, but as I got older I realized that taught me quite a bit about how to work on a vehicle. I can thank him and those learning experiences for my knowledge and appreciation I have of cars today. There aren’t too many auto repairs where I feel intimidated and won’t at least try it myself.

Back to the oil change. I stick to the same type of oil for each change, which is important. Switching back and forth between types (synthetic, semi-synthetic, and conventional) can damage your engine. Your car can use any of these types, but once you choose the type, it’s best to stick to it moving forward. Fortunately, the Valvoline oil I like has frequent coupons and is already a good deal from Walmart. My SUV takes 6 quarts of oil, so here’s the material cost breakdown.

    $ 15.00 – 5 quart Valvoline oil
    $ 3.00 – 1 quart of Valvoile oil
    $ 4.00 – Fram oil filter
    $22.00 – Total Cost

That’s the regular cost, however, without any discounts. I typically only buy oil when I have a coupon. Valvoline regularly puts out $4/off coupons so I stock up when I get them. That reduces the cost to $18.00/oil change. Not a bad deal.

To be fair, I priced out oil changes at a few places around town (including the extra quart of oil needed, which is an extra charge). The best price was $24.31. Basically, I am saving $6.31 on each oil change. Multiply that times the number of oil changes I’ve done over the 120k miles I’ve put on my Escape after that first year of free changes and that adds up to 24 oil changes, or a savings of $151.44. Not huge, but that does cover the cost of a couple of trips to Target for groceries!

Considering the work takes me less than a half hour, is it worth the effort? Many people would say no, but I say yes, just not so much on the money side of things. Being able to say I can do the work myself and understand how a car operates and is maintained is, in my option, priceless.

I’ve already had my son sit with me during a few oil changes so he can see the process. I’m looking forward to him getting his first car so I can show him on his own car how rewarding it can be to do the repairs yourself.

Joe-

Share

magicjack

Our story of cutting the cord (a detailed post coming soon) actually began about a year and a half ago. We wanted to reduce our Comcast monthly bill and the first casualty was phone service. At first we contemplated not having a landline at all. But then after hearing good things about magicJack we decided to investigate it further.

After reading the Amazon reviews, we decided to give the magicJackGO a try. We paid around $50, but now it can be found for $39.99 @ Target or Amazon
which includes the hardware and the first year of service. Even at $50 we figured it was worth a try.

Installation couldn’t have been easier. We plugged the magicJackGO into the power adapter and then into a power strip. Then we connected an Ethernet cable from our router to the magicJackGO Ethernet port. After that it only required a cord from our phone to the phone port on the magicJackGO.

The process of setting up the magicJack service was easy as well. After connecting the actual magicJack device to a USB port on our computer, it downloaded and updated software on the device.

Once installed, the magicJack softphone screen came up which looks like a phone dialer. There is a registration link on the left that takes you to the magicJack registration site to begin the process of account set-up – name, address, new phone number/porting, payment method, etc.

If you have an existing number with your current phone provider, porting your number is simple. You can go here to confirm your number is able to be ported to the Magicjack. After it’s confirmed all you need to do is to go into your magicJack online account, which you should have set up by now, and go to the TRANSFER section of your account to begin the process. The site claims it can take 5-10 business days for the porting to be completed but ours only took a couple of days.

After you’ve set up your account, completed the software updates, and either chosen your new number or ported your existing one, you’re pretty much done. We opted to plug in the magicJack directly into a power outlet and connect the Ethernet cord to it so we are able to make calls through a regular cordless phone handset.

Another nice thing feature is the magicJack App, available for both iOS and Android. You can use the app to make phone calls (from your home number) either via cell coverage or over WiFi, regardless of your location. You can also see and answer phone calls to your home number from the app even when you’re not home.

The one additional cost we didn’t catch when we originally signed up is that there’s an annual 911 fee of $11. The renewal fee for the magicJack service is $35, so your total annual out of pocket expense is $46/year ($3.83/month) if you want to have a landline in your home which is much cheaper than the $15 per month we were paying Comcast.

Joe-

Share

Extrapolate This - Weekly Roundup - 417 to 423

What a crazy week it’s been in entertainment news, right? Among other deaths this week there was Doris Roberts, Chyna and Prince.

I’ve always felt I grew up in a stellar time for music, the 80’s. I was in my teens for the majority of the decade. And oh, what a decade it was for music. Stadium rock bands like Bon Jovi, Def Leppard, and Queen. Big hair bands like Poison, Whitesnake, and Warrant. The great alternative bands like Depeche Mode, The Cure, New Order and the early days of Smashing Pumpkins. And then there were the one-hit (or two-hit) wonders that were so prevalent during the decade: Come On Eileen (Dexys Midnight Runners), 867-5309 (Tommy Tutone), and Relax (Frankie Goes To Hollywood). I could go on and on with bands and songs, I can remember them like they just hit the radio. SO many great bands and songs. Prince And The Revolution was definitely part of those memories for me. You have to appreciate the contribution Prince made to music.

Joe-


March Dining Out Expenses

Housecleaning @ ET!

Healthcare.Gov – My Review

Share