It’s true that the benefits of a parent cannot be measured or quantified in any meaningful way. It’s hard to put a price on the emotional commitment and special experience of raising a child as a parent, some of which may not even be realized by the parents themselves until afterwards. But it is undeniable that the experience of parenthood is a rewarding and special time in someone’s life.
Sunday Roundup: It’s Push-Up Time
It’s the end of a month, so it’s time to announce my new 30 Day Project. Last February, in 22 days, I went from having my abs cramp after doing 15 push-ups to doing a set of 100. Yes, really.
The problem is that the push-ups weren’t perfect. Funny things happen to your body when you are doing 100 push-ups. It’s hard to tell what your body is doing. I had good form for the first 80, but after that, my body wasn’t perfectly straight. I looked like a typical second grader in gym class. But I did it. They were push-ups.
I haven’t done a push-up since.
In March, I am going to get myself back up to 100 push-ups, only this time, I will only be doing perfect push-ups.
Here’s the plan, based on what worked last year:
This weekend, I established my baseline. I did as many push-ups as I could, until the point of failure. Failure for this purpose is defined as either my form faltering or me collapsing. I went until I couldn’t hold my body straight.
Starting on the first, I will be doing 5 sets of push-ups, twice a day.
Set 1: One half of my baseline. Starting from 24 push-ups, this set will be 12 push-ups. As I progress, this set will never be more than 20 push-ups. It is the warm-up set, after all.
Sets 2-4: ¾ of my baseline, so 18 to start.
Set 5: Go to failure. Once again, failure is defined as faulty from. This will establish my baseline for the next session.
If I don’t progress for 3 days, I will take a day off to recover and–given previous experience–come back with some serious improvement.
This is a self-correcting progression. If I can’t meet the previous day’s baseline, my last set will be lower, which will lower the baseline for the following session.
An interesting question I have is how it will affect my diet. I haven’t been exercising at all, to see how well the slow carb diet does on it’s own. Now, I’m going to be adding an aggressive exercise plan on top of it. A plan that involves a bit of muscle bulking. I’m guessing that my weight loss will slow down a lot, but I will shed inches like mad. I will be tracking my progression, and my weight and measurements. The graphs should be fun.
30 Day Project Update
I am on the Slow Carb Diet. At the end of the month, I’ll see what the results were and decide if it’s worth continuing. For those who don’t know, the Slow Carb Diet involves cutting out potatoes, rice, flour, sugar, and dairy in all their forms. My meals consist of 40% proteins, 30% vegetables, and 30% legumes(beans or lentils). There is no calorie counting, just some specific rules, accompanied by a timed supplement regimen and some timed exercises to manipulate my metabolism. The supplements are NOT effedrin-based diet pills, or, in fact, uppers of any kind. There is also a weekly cheat day, to cut the impulse to cheat and to avoid letting my body go into famine mode.
I’m measuring two metrics, my weight and the total inches of my waist , hips, biceps, and thighs. Between the two, I should have an accurate assessment of my progress.
Weight: I have lost 33 pounds since January 2nd! That’s 3 pounds since last week. Only 9 more to meet my goal for February. Oh wait. I won’t be hitting it this month.
Total Inches: I have lost 17 inches in the same time frame, down half an inch since last week.
Giveaway
I’ve got some codes for H&R Block Premium Online. It’s federal only and the state return costs an extra $35, but that’s still a screaming deal. Premium handles small business and investment tax issues. If you want to get it, leave a comment saying so. First come, first serve, until I’m out of codes.
Best Posts
Yes, I Am Cheap has a post about growing up poor.
Public Service Announcement: Liquidation sales are rarely good deals. When one store in a chain closes, the profitable merchandise always gets shipped to another store. The rest of it will often get marked up, in anticipation of people shutting off their critical thinking skills in the face of big “On Sale” signs.
I’ve found a new life goal: underground glowworm cave tubing. Wow.
OpenLibrary is offering up 80,000 ebooks to borrow, for free. 10,000 of them are still in copyright. I need a kindle.
LRN Timewarp
This is where I review the posts I wrote a year ago. Did you miss them then?
A few years ago, I sold a truck(on payments) to a friend, who promptly quit paying me and disappeared. I ended up playing repossessing the truck.
There was also a story about how I convinced two big companies that collecting on me for a bill of more than $800 wasn’t worth the effort. It was good, because I didn’t make the call.
Carnivals I’ve Rocked and Guest Posts I’ve Rolled
Slow Carb Diet: How to Avoid Going Bat-**** Crazy was included in the Festival of Frugality.
Three Alternatives to a Budget was included in the Totally Money Carnival.
Protect your home was included in the Carnival of Personal Finance.
Budgets Are Sexy ran my post, Side Hustle Series: I’m a Gun Permit Instructor. I forgot to link back to this, last week.
Prairie EcoThrifter ran my post, The Luxury of Vacation for the Yakezie Blog Swap.
Thank you! If I missed anyone, please let me know.
Yakezie Blog Swap
Eric hosted the Yakezie Blog Swap, which is a bunch of bloggers writing on the same topic and sharing the posts with each other. Here is his list of the participants this round.
I wrote about my journey to become a DJ at Beating Broke.
Beating Broke wrote about shoe shopping at Narrow Bridge.
Barbara Friedberg got a really nice couch and shared the experience at Wealth Informatics.
Suba doesn’t think the rent is too damn high, in fact, Suba thinks it is worth it and shares at Barbara Friedberg Personal Finance.
Mr. and Mrs. BP spent a lot when they got a dog. Read about it at 101 Centavos.
101 Centavos went nuts on an anniversary, but you know what that can get you… Read about it at Broke Professionals.
Latisha Styles’ post at Bucksome Boomer is I Spent How Much?! My Birthday Trip to the Bahamas.
Kay Lynn spent her heart out on a new car with all the bells and whistles and you can read about it at Financial Success for Young Adults.
Derek got a sweet new digital camera and tells us about it at My Personal Finance Journey.
Jacob has splurged a couple of times on travel and outdoor gear and has no regrets and shares the experiences at My Life and Finances.
Miss T. likes to splurge on travel. We have something in common. The difference? She wrote about it at Live Real Now.
Jason is a fan of the luxury of vacation. You can read about it at the Prairie EcoThrifter.
Squirrelers went to Europe for three weeks. Totally worth it! Read about it at Money Sanity.
Money Sanity likes good champagne. I can’t judge, I like good Scotch. Read about why at Squirrelers.
Melissa took 10 days and took the trip of a lifetime to visit a friend in China. Read about it at The Saved Quarter.
The Saved Quarter bought a Blendtec blender. Yes, the blender from “will it blend.” The story is at Mom’s Plan. (In case you were wondering, this blender can blend anything. Well, anything but Chuck Norris.)
Get More Out of Live Real, Now
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Have a great week!
Budget Lesson, Part 8
This is a continuation of the budget series. See these posts for the history of this series.
This time, I’m looking at our discretionary budget. These are the things that don’t have a fixed cost. Any individual item is largely optional, and, ultimately, we don’t track these purchases closely. At the beginning of the month, I pull this money out of the bank in cash, except for 1 category. When the discretionary budget is gone, it’s gone.
- Groceries/Dining – At the beginning of the week, we sit down with a meal planner and (Can you guess?) plan our meals. The planner we use has a weekly calendar with a checklist below each day to build the grocery list. At the bottom of the page is another checklist for staples that don’t apply to a specific day’s meal, like milk or snacks. We build the list, then transfer it to another sheet, broken out by grocery department. That keeps me from having to criss-cross the store. I make one lap. When I go to the store, I only bring that week’s grocery budget in cash, so I keep close track of how much is going into the cart. Recently, we’ve gotten so good at making our meals cheaply from scratch that I reduced our monthly food budget by $50. I enjoy good food, so I wouldn’t reduce this budget item if it was a sacrifice in quality. For example, the Rainbow Foods store-brand chips actually taste better than Lay’s for half of the price. We stock up when things are on sale and cook creatively. Sometimes, if time has been too tight to make a meal plan, we eat solely from the pantry for a week, buying nothing but bread and milk. By sticking to the list, and not fearing the store’s brand, we are able to feed our family of 5 1/2 for $450 per month and still eat well.
- Discretionary – This is for the random things that come up, and some of the not-so-random. Toiletries, activity fees, admissions, and fund-raisers all come out of this fund. At the end of the month, whatever is left gets tucked into a box and forgotten. When the box gets full, it goes to the bank to be applied to debt. There isn’t a lot to cut here, since this line-item is only $200.
- Baby stuff – This category is continually shrinking. Our middle kid is recently potty-trained and our youngest is trying. There is no baby food and no formula, just 1 pack of diapers every month. In 6 months, this category will be eliminated.
- Gas/oil – This is the single category that isn’t cash-based. It makes no sense to take the kids out of the car to pay inside, especially in the winter. Also, all of the temptation is inside. It’s much better to spend the money at the pump. There isn’t much we can do to reduce this, at the moment. Our next car won’t be a full-sized pickup, but we are several years from that purchase. We’ve started clipping oil-change coupons to keep this down to the minimum amount possible.
- Clothes – We only allocate $15 per month for clothes. In a good month, we don’t spend it. We can’t eliminate it completely, because things do come up. Over the summer, I’m hoping to completely leave it alone to save up for a new(used) winter jacket for our older daughter, who doesn’t get hand-me-downs.
- Blow Money – This is the safety valve. It can’t get reduced and still work.
We’ve now addressed out entire budget, including what we can do and have done to keep our costs under control. Looking back, I don’t see too many cuts I’ve missed.
Living the High Life
This post is part of the Yakezie Blog swap. I have swapped this week with Eric at Narrow Bridge Finance. This is a post from Eric discussing the theme: What Motivates You to be Financially Responsible? Please take a moment to read my post, Monsters, at Eric’s site.
Unlike my blogger buddy Jason here at LiveRealNow, I have no family. Quite the opposite in fact, I am loving the single guy life. I don’t have much debt. I love going to the bars and partying on the weekends. I have a good job. I have relatively low expenses. Things are good.
So what is my motivation to be financially responsible? It is two-fold. First, I want to be able to keep doing whatever I want whenever I want without worrying about money. Second, I do want to settle down someday in the not too distant future and make sure I have a good foundation to start the next chapter of my life.
I Want to Do Whatever I Want Whenever I Want
Is that selfish? Probably. But who cares? I don’t have kids, I don’t have a wife. I don’t even have a girlfriend at the moment. I do make an effort to donate to local organizations I believe in and I am happy to have friends over for a pre-game and buy a round of drinks, but that is as far as my obligation to others goes.
Doing whatever I want is not always cheap. I like going to concerts. I enjoy nightclubs. I love traveling and exploring new places. $80 tickets, a $15 cover plus drinks, and a $500 trip are fairly common occurrences in my life.
As you know, money doesn’t grow on trees. I have to work hard to pay for the things I want and the experiences I have. I am totally okay with that. But I have to plan now to be able to do what I want later.
I live in a modest and inexpensive apartment. I try to keep my food budget low. I bought a small car that would be reliable, low maintenance, and fuel efficient.
By cutting out wasteful spending and thinking before I spend, I am able to do pretty much whatever I want. If you have the same goal, dive into the depths of your budget. Dig in deep and see where you are spending money. Not to be cliché, but the ‘latte factor’ is a big deal. Those stops at Starbucks, afternoon snacks, energy drinks, cable bills, and other cash drains might not be worth it. If you don’t really, really enjoy it and get pleasure from it, why would you spend money on it?
My Future – Family, Travel, and Early Retirement
I am 26. I am at that point where I am going on a lot of dates. I am meeting a lot of great girls. One of these days, probably when I least expect it, I will fall madly in love and get married. You know the story.
My short term dream is a life of travel and urban living. My long term dream is to get married to a hot Jewish girl (I am Jewish, so it makes sense to “keep it in the tribe”) and have two or three kids. Once kids are in the picture, we move out from the urban fun areas and settle down in the burbs.
But just because I will give up the party life does not mean I have to give up my passions. I want to show my kids the world, give them amazing life experiences, and help them grow to hopefully be even more awesome than me, which is a hard bar to beat.
To do all of that and reach financial freedom, I have to set my goals and work to achieve them. (In case you were wondering, Jason recently wrote a great post on financial goal setting. If you have not read it yet, you really should.)
To get there, I am already working on saving and investing. I am contributing over 10% of my gross income at work to my retirement plans. I am working hard to pay down my student loans and save up a down payment fund. I am planning ahead and saving for my future goals.
How to Reach Your Goals
You probably have financial and life goals too. What are you doing to get there?
We can always tell people about our dreams. However, unlike when you are two years old and dream of being an astronaut police officer that lives in a toy store with an ice cream machine and a McDonald’s in it, your dreams today can be a reality.
With few exceptions, every person can reach their goals. Do you want to retire at 40? Take steps to save and create residual income streams. Do you want to travel in space? Save up to buy a ticket on Virgin Galactic. Do you not have enough money? Diversify your income streams and make more. Do you feel chained down by your traditional desk job that you hate? Start a business and transition to self employment.
Yes, it is easier said than done. But you will never reach your goals unless you take solid steps to get there. Don’t just dream it, live it.
Please take a moment to head over to Eric’s site, Narrow Bridge Finance. While you’re there, be sure to subscribe. You don’t want to miss his posts.
Budget Lesson, Part 2
Today, I am continuing the detailed examination of my budget. Please see part one to catch up.
This time, I’m going to look at my monthly bills. These are predictable and recurring expenses, though not all of them are entirely out-going.
Let’s dig in: [Read more…] about Budget Lesson, Part 2
Budget Lesson, Part 4
Part 4 of the Budget Lesson series. Please see Part 1, Part 2, and Part 3 to catch up. The Google Doc of this example is here.
The final category in my budget is “Set-aside funds”. These are the categories that don’t have specific payout amounts and happen at irregular intervals. When my car is paid off, there will be a car fund added to the list, instead of a new car payment.
- Parties – We throw two parties each year; a Halloween party and a summer barbecue. We also have three children who have varying expectations and needs for their birthday parties.
- Gifts – I don’t buy presents for my friends, and the number of relatives I buy gifts for has decreased dramatically over the years. I do, however, buy birthday and Christmas presents for my wife and kids and I participate in some form of gift exchange with my brothers and their wives. Combined, we set aside about $100 per month for parties and presents.
- Pet Care – We have four cats and a dog. This is to cover cat litter and food the bunch. We have too many pets, but we can’t give them away. They are family. However, there is a moratorium on new animals for a few years. Two cats and a dog are our hard limit.
- Car Repair – Cars break. Tires wear out. This isn’t a surprise, and it certainly isn’t an emergency.
- Warranty Fund – We are building up our own “Warranty Fund“, to replace appliances when they break. I’d rather have the interest accruing than see this as a line-item fee on any of my bills.
- Medicine/Medical – Kids get sick and prescriptions need to be filled. We figure our monthly prescriptions plus one office visit per month, but the money accrues in this fund. On low months, we have more, so we can cover the visits during flu season.
- In The Hole – This isn’t actually a fund we set aside. If, for some reason, we go over budget one month, it gets entered here to immediately pay ourselves back for the over-spend. This month, this number is $170, which is how high we went over for Christmas. Since we have all of the “Set asides” and non-monthly bills stored in the same account, there was no actual debt, just this “paper” debt to ourselves. This serves the combined purposes of a mild punishment for overspending and a method to get back on track.
That is my entire budget laid out. As the series continues, I’ll be examining how I have lowered the bills, how I could lower them more, and how I’ve screwed them up.