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Archive for November, 2008

Its never too late!

November 22nd, 2008 at 05:36 pm

One thing I have learned in life is that its never too late to think about the future.

It seemed that when I was a young boy I had ideas of where I would be today.
There have been doors shut in front of me and at the same time new opportunities opened up that I never expected.

I am happy where I am and only hope for a brighter future.

My advice to all that follow is not to lose hope.
I still have dreams of where I would like to see myself in the future, and as I get older is appears that not everything is accomplishable, but at the same time never lose hope.

One thing is for sure, others prefer to always be ahead of us.
The reality is that if you want to be ahead you have to think differently, you have to recognize nobody will ever give you anything, whatever you want, you have to earn it.

Each and every life sacrifice we make gives us the life experience to be the successful person that we all can grow to be.

Again, never lose hope.

Small steps lead to the ultimate place we all desire, whether it's a financially stable life, a better position with work, or just happiness in your life.

A thousand mile journey begins with one step.

Good luck to all!!

It's Friday!

November 14th, 2008 at 09:28 pm

Today is payday, sorry, I meant to say Friday.

I am sure that I am not the only one livng on a Friday to Friday basis. It takes a lot of effort to get out tof this cycle, but so far I am getting better and better at it.

I am dispointed to hear so many bad news about hte economy since its just leaves a negative mood with everyone around me.

I have had many lucky breaks.
(Today, I guess NOT being laid of, is a good sign of luck.)

Life shouldn't be this way.
We should feel secure regardless of where we are.

I have a friend who will be retiring in three weeks and I wonder whether I will ever be able to achive the same.

I joke with my wife that I won't wait until 62 or 65 years. I want to retire at 45.

Yes, that seems agrassive, but I have nothing to lose by setting such a fast goal.

Another thing I pointed out to my wife, my friend is retiring with a pension.
(Who is currently working and has a Pension...we only hear 401 (k)..k.kkk.kkk).

I all those kkk can add up. Our hope is we save enough $KKK so live on.

I pointed out to my wife that pensions will be like dinasours. By the time we retire, in about 25-35 years, they will be a thing of the past. A story that people can talk about.

Social security here I come.

Life goes on..


Good luck to all of you, and enjoy your weekend.

First steps to a proper budget

November 8th, 2008 at 12:51 pm

We have all heard that in order to be in good financial order, you need to take a budget into account.
Well, I am sure most of you have at some point have had the thought that budgets are something only businesses need. (Not you as an individual who can't possibly live on more than what you earn).

But the truth is, as much as many are you angry that the government is living on a negative budget (it owes more than it takes in). Many of us, as individuals also are living on a budget being our means.

Time for get back on track.

But where to start, well, like any problem, first you have to be honest with yourself and admit you have a problem.
But don't be disappointed. This is the first step to the new you.

To initiate setting up a budget, it is recommended that you write down your moth to month recurring expenses. I would start with items that don't vary. Afterwards, I would add any month to month bills (utilities) that vary and list the average monthly bill, or base it on last month's amount (whichever is the greater amount, you don't want to under budget).

Here is a list of my expenses:

RENT $900
CAR Insurance $160.36
Car Insurance $138.17
Commuter Pass $59.00
Phone bill $118.00 +-
Cable Service & Internet 85
Credit Card $150
Credit Card 2 $150
Student Loan $60.00

Once you have the basics, list any utilities that you may pay.
I don't have many, so here they are:

Gas $45 +-
Electric $35 +-
Food $225.00 +-

Once you start writing down what you pay on a month to month basis, it is important to keep updating your information. I am sure that there will be items that you may have missed.

For example, you may forget to add a water bill, if you pay it on a quarterly basis. The same applies for taxes.

Also remember to try to add excise taxes n vehicles for the month the car registration renews each year.

Its a tough job nailing down all your expenses but this is the very beginning.

I use a notebook, so I can list and check off the items as I pay they through the month.
I also have the due dates written in to ensure that the wills are taken care of with a priority.

Next step:

Try to take note of all your cash & credit expenses on a day to day basis.
Its not necessary for you to cut back, you just need to start becoming aware of where your money is going.

If possible, it's a good a idea to budget for small expenditures such as morning coffee, dinner out on weekends, gifts, and unexpected expenses (i.e. emergency cash).

Getting in the habit of checking where you are is a good idea. You don't need more than an hour each week or two.

Once you have a list of what you typically pay on recurring expenses on a month to month basis, you can set aside funds to ensure that your month to month expenses will be covered, and you won't get caught not having cash to pay bills on time.

This information is also useful to determine where, if desired, you can cut back and not be hurt.
It also helps you determine what services you can cut back on, so that you can save more. (or if in debt like me, save some cash to cover other expenses).

Analyze what your take home pay is and try to budget so that you are no longer in need of using a credit card.

I have not used my credit card for over 6 months. I have had to sacrifice a lot, but not that much. Since I currently have a hefty amount of debt, I don't anticipate using my CC any time soon. I look forward to the day that I will be credit card debt free.

It is a day that is coming, each month I see how much progress i have made, and although it feels bad to be in debt, it feels great knowing that each month the balance is a little less.

Let me know if my information has been of use to you.

All said and done

November 5th, 2008 at 01:59 pm

I can't wait for Jan 20th.
History is in the making.
I am glad to still be young because I am certain a better, happier future awaits me.

I, perhaps, may still be able to retire after working 20-30 years.

Time to start saving.

First in line to Vote!!

November 4th, 2008 at 01:42 pm

Well, its that time of the 4-year cycle again. I had to get up early to go elect the next president.

Well, I did my duty. In fact, I was firt in line.

I have never felt better about making my vote and having it count.

I am proud be part of the group that will bring a new direction to this country.

Make sure all of you than can participate take advantage of the opportunity.

Good luck.

Can't wait for tonight, for the results!!

$18,350.00

November 3rd, 2008 at 05:01 pm

$18,350.00 in credit card debt is alot of money. Roughly 70% of what I may expect to earn next year.
My, that's a lot.

Is there any affluent reader willing to chip in to help in your sincerest random act of kindness?

Let me know. I would love the help.

New Years Resolution!!

November 1st, 2008 at 02:03 pm

Now is the time to get started on setting some goals for the next year.
I have learned that each year we learn something new.
For example, I made some pretty horrible spending decisions this year. (Funds I regret having spend, which could have been used for something more meaningful).
As the year has gone by, I am eager to get myself a brand new desktop with video editing capabilities and a decent graphics card to enjoy some online gaming.

I used to to that a lot more a while back, but since I moved out of my previous home. (I left the desktop computer to my 15 year old brother, and I use this current 3-4 year old laptop.)

Not top of the line to enjoy intense graphic gaming.

I have started looking at computer models. The one thing that pleases me is that I should be able to get a very good one within the price range of $900 to $1300.00, thanks in part to the sagging economy.

This also brings up the point that a lot of people are suffering economically. I too have had to cut back a little.
I am pleased to be happily employed.
I have not personally been affected much, but things to look bad when there is such a negative vibe in the area.

Again, moving back to new year resolutions.

This year, I do plan on becoming for physically active. I have neglected the sports I used to enjoy on a more casual basis. The problem has been my wife doesn't life doing much. But we have to find common ground. I used to bike, Rollerblade, swim, and just go hiking and trail walks.

In economical practice, I plan on starting to save some money.
I have saved nothing so far, just placed my self in debt.

While I have great experience at managing debt and paying bills on time, I have neglected to save for an emergency.

I know financial planner would love for us to have 3 to 6 months worth of expenses saved up. Its a little hard to do, but that doesn't prevent me from going forward with the goal.

As the end of the year approaches, I will re-visit these ideas and see how probable they are.

I don't want to be dreaming, but at the same time, lack to setting goals isn't going to get anyone anywhere.

For all of you setting high goals. Good for you. Don't let anyone set you down.
While they may not be achievable today, they may be tomorrow!!!

Happy new YEAR...soon.