I have moved this blog over to Wordpress
Visit me at http://thedeprivedinvestor.wordpress.com from now on
Thanks
Thursday, February 15, 2007
Latest updates
Well, I saved $20 from my allowance this week and have put that into my ING Direct savings account. True, I didn't spend that $20 because we didn't have it to spend, but at least it will be invested now.
I'll be writing a check in the next day or two to open my Roth IRA. Then the $1400 or so my wife has in old retirement plans can be transferred into the Roth and hopefully we can start seeing some growth soon.
My 401-k should be starting with my first paycheck from February, meaning the check I get on the first of March will have the withdrawal on it, as well as the company match.
This whole "depriving myself but not the family" thing is difficult. My wife doesn't have the desire I have right now to cut spending drastically. If she did, we could really get some money set aside.
I really wish I could get a decent-paying part-time job to have yet more money to invest, but since I am working full-time and going to school part-time, my time is short. I do have a freelance project possibly in the works, so maybe I'll get some cash there to invest. We'll see.
I'll be writing a check in the next day or two to open my Roth IRA. Then the $1400 or so my wife has in old retirement plans can be transferred into the Roth and hopefully we can start seeing some growth soon.
My 401-k should be starting with my first paycheck from February, meaning the check I get on the first of March will have the withdrawal on it, as well as the company match.
This whole "depriving myself but not the family" thing is difficult. My wife doesn't have the desire I have right now to cut spending drastically. If she did, we could really get some money set aside.
I really wish I could get a decent-paying part-time job to have yet more money to invest, but since I am working full-time and going to school part-time, my time is short. I do have a freelance project possibly in the works, so maybe I'll get some cash there to invest. We'll see.
Monday, February 12, 2007
We were doing so well
Well, spending has become a problem again, as well as not keeping track of spending. We've used up our home improvement savings, so now we have to pay that back (it wasn't that much, but still....)
And tomorrow we are doing a Valentine's dinner out, but the money for that will definitely be tight. Fortunately we get paid Thursday. Time to re-examine the budget and stick to it this time. It's so different now that we don't have credit cards. Before, we had overdraft protection from our credit card, so if we overspent, it just came out of our credit card as a cash advance.
Now it comes out of savings, which is currently empty. So there's a very real risk of bouncing a check if we're not careful. It is forcing us to be a lot more careful with our spending. I am hoping we learn a valuable lesson from this and start keeping better track of our spending and stick to our budget better.
I've done a budget for the rest of February (from payday to the end of the month). If we stick to it and not go crazy we'll be in the black and start off March in good shape. I even budgeted in the $250 required to start the Roth IRA.
And tomorrow we are doing a Valentine's dinner out, but the money for that will definitely be tight. Fortunately we get paid Thursday. Time to re-examine the budget and stick to it this time. It's so different now that we don't have credit cards. Before, we had overdraft protection from our credit card, so if we overspent, it just came out of our credit card as a cash advance.
Now it comes out of savings, which is currently empty. So there's a very real risk of bouncing a check if we're not careful. It is forcing us to be a lot more careful with our spending. I am hoping we learn a valuable lesson from this and start keeping better track of our spending and stick to our budget better.
I've done a budget for the rest of February (from payday to the end of the month). If we stick to it and not go crazy we'll be in the black and start off March in good shape. I even budgeted in the $250 required to start the Roth IRA.
Friday, February 2, 2007
Updates
In the right column there is now a donations button. Donate if you wish, don't if you don't want to. Any donations made will be put into my investment fund and will be greatly appreciated.
Also, I hope to soon post the Excel spreadsheet I am using for my budget. You can download it to use as an example or use it as a starting point to build your own. Just thought it'd be nice to have up in case anyone needs a good starting point.
Thanks for stopping by, and do come back often!
Oh and click on some of the ads here! :)
Also, I hope to soon post the Excel spreadsheet I am using for my budget. You can download it to use as an example or use it as a starting point to build your own. Just thought it'd be nice to have up in case anyone needs a good starting point.
Thanks for stopping by, and do come back often!
Oh and click on some of the ads here! :)
The importance of sticking to a budget
Well, I've been doing this blog about a month now, and have already learned a lesson about sticking to a budget. When I first figured up January's budget, we were going to have several hundred dollars left over that would carryover into February.
Also in February, we were going to get my wife's first paycheck from this semester's teaching classes. But the latter half of January, we kind of fell off the budget wagon and ended up overspending a lot. We dug into a little of our savings and spent the surplus we would have had. So now the first couple weeks of February are going to be tight, money-wise, making it harder to save this month for investing.
Fortunately, I am getting a check any day now (could be today) for $250. See, in August I was in a car accident with someone who works for Nissan. They were driving a company-owned car, and were, in my opinion, 100% at fault. The police report said I shared some fault because I didn't see them when I was pulling out of the gas station, but they were passing illegally in the oncoming lane.
Fortunately, Nissan recognized their responsibility and I am receiving my deductible back. I hope my wife doesn't have plans for that money, because I have earmarked it to start my Roth IRA.
Anyway, it's important to stick to your budget because messing up one month does not just mess up that month. There is a ripple effect that can be felt for months to come!
Also in February, we were going to get my wife's first paycheck from this semester's teaching classes. But the latter half of January, we kind of fell off the budget wagon and ended up overspending a lot. We dug into a little of our savings and spent the surplus we would have had. So now the first couple weeks of February are going to be tight, money-wise, making it harder to save this month for investing.
Fortunately, I am getting a check any day now (could be today) for $250. See, in August I was in a car accident with someone who works for Nissan. They were driving a company-owned car, and were, in my opinion, 100% at fault. The police report said I shared some fault because I didn't see them when I was pulling out of the gas station, but they were passing illegally in the oncoming lane.
Fortunately, Nissan recognized their responsibility and I am receiving my deductible back. I hope my wife doesn't have plans for that money, because I have earmarked it to start my Roth IRA.
Anyway, it's important to stick to your budget because messing up one month does not just mess up that month. There is a ripple effect that can be felt for months to come!
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