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Ministries Unlimited Thought For The Week (#7)
May 12, 2025Most consumers are aware of Shrinkflation. The price stays the same, but the contents are smaller. You can still buy a gallon of ice cream (128 ounces), but that half gallon (64 ounces) is now 1.75 quarts (48 ounces). Consumers didn't notice this right away because the container stayed roughly the same size with a false bottom. It wasn't until they were home that they noticed there were not as many servings in the container. Have you ever heard the term Skimpflation? This is a new one to me as well. Skimpflation is the reduction in the quality of the product. A good example is the gears for raising and lowering the windows in your car. These used to be made of metal (never wore out) and are now made of plastic (wear down over time & usage).
I can remember my parents saying, "They don't make things like they used to." Well, they were correct. Good examples of this are clothes dryers. It used to be that the belt and heating element were all you had to worry about fixing. You could have the same dryer for 50 or 60 years. Now you're lucky if it will last you 20 years. The same can be said of almost any appliance. My last refrigerator was 17 years old when the condenser went out and the cost to replace it was about the same as a new one. So, I bought a new model by the same manufacturer and was told I would be lucky if it lasted 10 years. Maybe I should have just paid for a new condenser! The same with my furnace and A/C unit that I replaced in the mid 90's. You may have heard the slogan "Nothing stops a Trane". Well time eventually stops everything. The A/C unit finally bit the dust this past summer and was replaced with a different brand unit. I am hoping it lasts as long but not holding my breath. Luckily, they can still keep repairing the furnace. It's costly, but still cheaper than a new unit. The same can be said for the cars we drive. I come from a long line of Ford buyers. Yes, I know all of the acronyms and even have a few of my own. I wish I still had my 1988 Ford Ranger which had a lot of extras on it and cost $13,000 brand new. It was 22 years old when I sold it to someone who was going to use if for parts to fix his Ranger. After the test drive, he decided to drive mine and use his for parts. I saw him driving it 5 years after I sold it to him. Back then you could get Ziebart rust proofing and undercoating on a vehicle, now they don't have that option. When Rangers came back on the market in the U.S.A. the price was more than double for a basic model. My family averaged a new vehicle every 20 years or more before 2000. Those days are over. The 2008 Freestyle lasted until 2019 before pieces of metal were falling off underneath and finally quit running. I will have to wait and see how long my 2017 Ford Explorer lasts.
As homeowners will tell you, it's not cheap to do the upkeep on a home. In a recent survey by Hippo, 60% of homeowners had unexpected costs in the past year averaging $4,000. That can be a hard hit to a family already struggling financially. New homeowner policies now have deductibles that are 1% of the replacement cost of the home. There is no such thing as a $1000 deductible anymore on new policies. Keep in mind that the replacement cost is always higher than the market value of your home. With the recent round of storms in the area this Spring, you may notice that not everything is covered by your insurance. If your policy does not state full replacement value, you could be hit with more than just your deductible. The amount covered is based on the age of the item being replaced. For example, if your roof is 15 years old, you may be responsible for 50% of the cost plus your deductible.
Emergency funds are how we can stay ahead. The rule of thumb is 3 to 6 months of essential living expenses. For families in the Midwest, 6 months is a better target. Expenses include mortgage or rent, utilities, insurance (car & home), food, transportation, childcare, school, medical, internet, and cell phone. For example, if your family's monthly expenses are $4,000, your minimum emergency fund is $12,000 (3 months) or $24,000 (6 months). In the Midwest, add another $1,000 to $3,000 to that. It takes years to accumulate this amount of money, and one tragedy that can totally change your life.
Our mission is to help those in need. If you are struggling and don't know where to turn for help, please reach out to us. We can help you with food and personal hygiene items. Or we can guide you to resources to help with your energy bills or rent. Reach out to your local church, they also have resources. To quote Mathew 7:7-8 "Ask and it will be given to you; seek and you will find; knock and the door will be opened to you. For everyone who asks receives; he who seeks finds; and to him who knocks, the door will be opened."
Submitted 5/12/2025 by Kathy Scheller, Director of Operations