Ideas to achieve it:
1. Addition: October will be the month when I send all the cryptocurrency profit into my account (30.10.2017)
2. Subtraction: Sell the car and reduce monthly expenses by £120. Call insurance to cancel the contract (Done). Call to cancel road tax after i sell it (29.09.2017)
I will see what else will pop through my mind. Need 8 more ideas until the end of October.
Showing posts with label budgeting. Show all posts
Showing posts with label budgeting. Show all posts
Wednesday, 27 September 2017
Sunday, 17 September 2017
Monday, 4 April 2016
The savings rate paradox and the 1000 upper limit of my expenses
I see some interesting facts (at least for me). The more I enjoy my life, and I talk here about my last four holidays from February to April, the less I save. I know, you will say it is obvious, but for me, seeing it on the paper, made me wonder where is that thin line between saving and enjoying life.
These are the numbers:
Month: January February March
Income: 1635 1358 1212
Savings: 592 322 174
Saving rate: 36% 24% 14%
I can see that my expenses are about 1000 and I can save all that is on top of that. Not bad, thinking that I can afford anything I like at the moment. I am thinking about a strategy to show the budget for couple, not individual, but I got used to calculate it this way. Any hints?
See you soon!
G.
These are the numbers:
Month: January February March
Income: 1635 1358 1212
Savings: 592 322 174
Saving rate: 36% 24% 14%
I can see that my expenses are about 1000 and I can save all that is on top of that. Not bad, thinking that I can afford anything I like at the moment. I am thinking about a strategy to show the budget for couple, not individual, but I got used to calculate it this way. Any hints?
See you soon!
G.
Tuesday, 24 November 2015
Some interesting podcasts for people who want to achieve financial independence
Some good ideas in all those podcast i am listening in the last 3 days. When you go to work, when you run or even before going to bed, listen and learn some new cool shortcuts on your way to FI.
Budgeting made easy - Jesse Mecham
Click here
Wealth of auto-pilot - Never work again strategy - James Clear
Click here
Financial planning simplified - 6 ideas you need to know
Click here
Budgeting made easy - Jesse Mecham
Click here
Wealth of auto-pilot - Never work again strategy - James Clear
Click here
Financial planning simplified - 6 ideas you need to know
Click here
Wednesday, 7 October 2015
FIRE first aid or as i said FIRE crash course 1.0.1.
Ok. New post coming. But before i start i want to point to some very pertinent blog post of FI fighter. I just find it interesting and it is worth to take a peek on it. Another good post i found is about th Roseto effect - how to live longer, better and healthier. It is a simple solution, but a very effective one.
Now back to my story. One friend was asking me how can he learn to do what i do? As a close friend he could see the changes on my personal finance and net worth, and as we have at least 20 years from the time we first meet, he realized that i did in this year more than i did in the previous 36 of my life.
But here come with the catch. How can i learn somebody about FIRE in only 2 hours if i just start with the basics after 18 months of study of this phenomenon.
So i made a plan. Emailing books to read on the subject, 1 per week. Record every expense for 3 months on a notebook named with the fancy name of FIRE ESCAPE (i must to admit that i was inspired by Huw with this one). Categorize them after every month. Learn about your money before you start saving. Start budgeting expenses and food week by week, Stick with that amount. Download a running app. I use Runkeeper or Freeletics. A bit of physical preparation. Depending on the person i would recommend some supplements. At least when you start running again after 20 years. For him it was Multivitamins, Multiminerals, Magnesium, Fish oil to burn the extra fat, Melatonin to adapt faster to the new situation and some other things, Joints stuff - the one with condroitin. Make a blog. Put every link i provide on your blogroll. I give him most of the blogs i know. Set up to show the last post. Read them regularly. Now i have 2 Excel spreadsheet that i use. One to record the plan. With 4 pages. Risk. Safe. Dreams. Costs and strategy. Another one is using different pages, one for every income sources like dividends, interests, full time work, royalties, profit, capital gained and rental. Set up accounts. Start small and get bigger at some pre-set periods of time. He started with 8% for risk investment, 4% for safest ones and 4% for achieving childhood dreams (i used this as a helping hand as it is known that achieving childhood dreams can have as a result a dramatically improvement of your motivation. I have the full research on one of my journals,
Setting up the accounts. I went for one P2P account, one property crowdfunding, one for buying shares. He agreed to make a new bank account for this with TSB for the 5% interest, where he will save first a buffer cash sum, ideally 6 months expenses. Then we will set up direct debits for the investments options mentioned before, going with the option pay yourself first, worry about an eventual shortcoming later. As in automatically pay your rent, bills, transport (train pass) and savings first after you are getting paid your wages and make a budget for the remaining amount for food and any other expenses. Took us 3 hours at first and an additional one later instead of 2 planned, but we did it.
What would you do different? I am listening.
P.S. The blog just reach the 1000 readers bar, it is time to celebrate!
Now back to my story. One friend was asking me how can he learn to do what i do? As a close friend he could see the changes on my personal finance and net worth, and as we have at least 20 years from the time we first meet, he realized that i did in this year more than i did in the previous 36 of my life.
But here come with the catch. How can i learn somebody about FIRE in only 2 hours if i just start with the basics after 18 months of study of this phenomenon.
So i made a plan. Emailing books to read on the subject, 1 per week. Record every expense for 3 months on a notebook named with the fancy name of FIRE ESCAPE (i must to admit that i was inspired by Huw with this one). Categorize them after every month. Learn about your money before you start saving. Start budgeting expenses and food week by week, Stick with that amount. Download a running app. I use Runkeeper or Freeletics. A bit of physical preparation. Depending on the person i would recommend some supplements. At least when you start running again after 20 years. For him it was Multivitamins, Multiminerals, Magnesium, Fish oil to burn the extra fat, Melatonin to adapt faster to the new situation and some other things, Joints stuff - the one with condroitin. Make a blog. Put every link i provide on your blogroll. I give him most of the blogs i know. Set up to show the last post. Read them regularly. Now i have 2 Excel spreadsheet that i use. One to record the plan. With 4 pages. Risk. Safe. Dreams. Costs and strategy. Another one is using different pages, one for every income sources like dividends, interests, full time work, royalties, profit, capital gained and rental. Set up accounts. Start small and get bigger at some pre-set periods of time. He started with 8% for risk investment, 4% for safest ones and 4% for achieving childhood dreams (i used this as a helping hand as it is known that achieving childhood dreams can have as a result a dramatically improvement of your motivation. I have the full research on one of my journals,
Setting up the accounts. I went for one P2P account, one property crowdfunding, one for buying shares. He agreed to make a new bank account for this with TSB for the 5% interest, where he will save first a buffer cash sum, ideally 6 months expenses. Then we will set up direct debits for the investments options mentioned before, going with the option pay yourself first, worry about an eventual shortcoming later. As in automatically pay your rent, bills, transport (train pass) and savings first after you are getting paid your wages and make a budget for the remaining amount for food and any other expenses. Took us 3 hours at first and an additional one later instead of 2 planned, but we did it.
What would you do different? I am listening.
P.S. The blog just reach the 1000 readers bar, it is time to celebrate!
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