Posts Tagged money

#11: Financial Times

As I kind of alluded yesterday, I wanted to kind of define where I went wrong with money this year.  I wasn’t really keeping track of how I spent what I had, so even though I didn’t particularly overspend (I mean, no more than my usual technology impulse buys) I wasn’t aware of the status of my finances at any given time nor was I really planning in any long-term sense.  My lack of planning is bad enough that I had an essentially empty bank account at the start of December (possibly because I bought stuff – like a new couch and plane tickets – at an inopportune time, but definitely because I willfully didn’t care about my money situation).

So, what to do?  Do I need to change this mentality at all?  As I have stated numerous times in the past, I hate thinking about money, but I think it’s worthwhile to come up with a general plan for a year (or at least monthly) so that indeed I can think about even less.  Plus, I will feel a lot better about my ability to take on larger projects and/or longer timeline plans if I have a solid underpinning in my head of where my money is at.

In my rough analysis, I think I’ll set a budget for “essentials” (food, bills, gas, etc.), for “electives” (travel, entertainment, etc.) and then try to track everything else in a simple way to be able to plan better.

11. I resolve to track my spending for at least month to create a simple budget.

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No Rent, Will Travel

I was hunting for theme today when out of the blue, Keridwyn provided one: a little site called NaBloPoMo, or National Blog Posting Month, a riff off of the incredible (and incredibly difficult) National Novel Writing Month that occurs in November.  I guess a bunch of bloggers like me are too busy/lazy to write a novel in November, and so this site is a way for people to connect and write off of a prompt each day.  That’s what I’ll be doing, unless inspired topic strikes!  (I thought about a month of clicking random on Wikipedia and chatting about whatever comes up, but I guess I’ll keep that one in the back pocket!)

Monday, November 1, 2010
How would your life change if you didn’t have rent or a mortgage to pay, i.e., if your housing was free?

I don’t like thinking much about money, but I do know what I would do with this sort of financial windfall:  I would travel.  A ton!  I’m sure there are better ways for me to spend the money – for example, tackling more of my residual student debt! – but I wouldn’t be me if I cared too much about that kind of stuff.  I would take trips to places I have wanted to go for a while, but haven’t been able to find the time or finances to do so (Russia, Australia, South America), and as long as we are full of wishful thinking, I would hope that I’d be able to cut back on total work hours to do so.  After all, I wouldn’t be needing the additional income!  Ideally, I’d undertake a series of trips to see my friends, flung far and wide across the U.S. and internationally.

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