From Pizza to Fish
By Jim Bauer
@porwest (96816)
United States
March 8, 2025 7:30am CST
Last night my wife asked if we had any room in the budget for a pizza night. I gave her the typical response. "Of course there's room, and if not, I can always find it." But she was sensing the hint I really preferred not to spend money, especially as I am in full on "budgeting mode," which hits every year around this time as I work out our "summer budget" which includes a couple of vacations as well as camping trips and other things like maintaining the pool.
It's that time of year when we literally have to "create income" through covered call options contract sales among other things to ensure these expenditures are as little "out of pocket" as possible.
During this time, she is always warned that I may have a bit more bite if anything money related comes up. I don't like curveballs thrown at me when I am not yet fully done working out the details of the balls I already know are coming.
Nonetheless she changed her mind. We had Gorton's beer battered fish filets in the freezer, and we both enjoy them. "Actually, suddenly I do have a taste for those," she said.
Problem solved and we had those with some fries. I'm still working out getting a pizza though. Not that we can't afford it. I just don't want it to be paid for via any principal.
7 people like this
6 responses
@porwest (96816)
• United States
8 Mar
Selling covered calls CAN be tricky, because for me the goal is to collect the premiums but never be forced to sell my underlying shares, because it's a process I want to be able to repeat over and over again and at the same time continue to earn income through dividends on the stocks.
I only ever sell contracts with strike prices set well above my cost basis, and so even if I AM forced to sell, which does happen from time to time, I always make money anyway.
The income covered call options contracts offer is just too good to pass up, but I have also been doing it for many years, so it's GENERALLY a stress-free endeavor with nominal risk and a very well-developed strategy.
1 person likes this
@Tampa_girl7 (51983)
• United States
8 Mar
I totally get your way of thinking. We live pretty frugally.
1 person likes this
@porwest (96816)
• United States
8 Mar
It's the best way to be, to me. Many people think that to do it you have to make sacrifices. I think that's on the contrary. One makes the most sacrifices when they put themselves in a pinch not considering money. Save on the things you need so you can afford the things you want, live on as little as possible, and save and invest wisely, and when spending is wanted, spend the proceeds rather than the principal.
That's my general philosophy summed up.
@1creekgirl (42704)
• United States
8 Mar
I get it.
We had a nice surprise yesterday. We decided to try a new Mexican restaurant in the town near us and it was not only delicious, it was very reasonably priced. We both had a big meal for $16 which is sure less than fast food. And it wasn't the typical Mexican food menu.
