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.
Where the hell have I been?
For the last year or so, I haven’t been writing much, which feels weird. I used to write three timer per week. I’d write about saving money, investing, frugality, sometimes, relationships and parenting.
But that stopped. Why?
When I started this site, I was about $110,000 in debt, and just starting my journey out of it. A few months before, I was looking into bankruptcy, because I didn’t know how to get out of debt.
For years, the ways I saved money, cut corners, and earned extra money was fodder for this site. Everything I did was about saving money, earning money, and paying off debt.
Now? I’m about 2 months away from being completely debt-free. I paid my mortgage off last month, and have about $10,000 in credit card debt at the moment. I know, I paid that off backwards, but there are reasons. Reasons I’ll share another time.
4 years ago, I was essentially working 4 jobs. My day job, my gun training business, my internet marketing business, and my websites(including this one). I was working all of the time. It was necessary, but it’s a path to burnout. Then, I changed jobs a couple of times, nearly doubling my day job’s pay. My business partner got promoted out of a position that generated leads for one of our businesses, then had an accident that the other shared business on hold for a while.
Suddenly, I had free time and enough money coming in that I didn’t need to work all of the time. It was a crazy place to be after spending more than a decade pretending to be a workaholic just to keep my head above water. (Here’s a secret: I’m incredibly lazy. I’m just the busiest lazy man I know.) So I started pursuing hobbies.
Linda and I have been taking ballroom dancing lessons and are nearly to the point that competing is a real possibility.
I cleaned out my garage and assembled a decent wood shop, which is something I’ve wanted to do roughly forever.
I’ve been taking blacksmithing lessons with my teenage son.
I’ve been playing games with my kids, dating my wife, and simply enjoying my life.
This site?
Through all of that, I haven’t known what to write about.
“Dear audience, this month, I paid my bills, didn’t go on vacation, and bought a drill press.”
“Dear audience, my debt went down another $500 this month.”
“Dear audience, I didn’t buy a car I can’t afford this month. Again.”
Those aren’t good articles. Financially–while paying off debt is disturbingly exciting–my life is very repetitive. That’s the hardest part about paying off a lot of debt. It’s good, it’s necessary, it’s boring. My wins have been spaced out by several years lately, and I haven’t been creatively frugal. Screw frugal. If you can afford some conveniences and luxuries, frugal sucks.
Anything new happening in my world that would apply to this site would make it read like an accountant’s ledger book. $100,000 minus $1500 plus $10,000 minus $300, ad nauseum.
Instead of inflicting boring accountancy on you, I’ve been absent.
What next? Who knows. I enjoy writing. I enjoy writing here. I’ve started writing a novel.
What would you like to see here?
What Happens When You Save
I’m a debtor.
I’d like that to be otherwise, but I’m pretty close to the limit of what I can do to change that. Don’t get me wrong, it’s changing, but there is a limit to how many side projects I can take on at one time. So, I’m in debt and likely to stay that way for the next couple of years.
As part of my budget, I set up a few categories of items that are either necessities or “really wants” without being immediate expenses. For example, I’m setting aside some money each month for car repairs, even though my car isn’t currently broken. When it comes time to fix something, I hope to have the money available to fix it, without having to scramble or <spit> tap into my emergency fund.
All told, I have about a dozen of these categories set up, each as a separate INGDirect savings account. Twice a month, a few hundred dollars gets transferred over and divided among the savings goals. Most of these goals are short-term; they will be spent within the year, like the account for my property taxes. Some of them are open-ended, like my car repair fund. Some are open ended, but will eventually end, like the fund to finance my son’s braces. All of the accounts are slowly growing.
As I’ve watched the progress of my savings accounts, I’ve noticed something funny.
My confidence is up.
It may only be a few thousand dollars, but it’s more money than I have ever had saved. The vast majority of this money will be spent over the next few years, but having it there, now means that I have tomorrow covered. For the first time in my life, I’m not living paycheck to paycheck. No matter what happens, I know I can make ends meet for a couple of months. That fact alone has reduced my stress level more than I could have imagined.
Two years ago, I was sure I was going to file bankruptcy. Now, I’m looking at being just two years away from having all of my debt gone. I have faith that my future will be bright, and only getting brighter. If I can dig myself out of this hole once, I can do it again, no matter what happens.
This has brought a calm that I can’t easily explain. I don’t have to worry about where next week’s groceries are going to come from, or how we’re going to afford braces in a couple of years.
Having an emergency fund and some auxiliary funds has been entirely worth the work we’ve done for last two years. Have you noticed any changes as you pay off your debt and build savings?
Sunday Roundup: Varsity Punk
I moved this roundup to Sunday to give myself a bit more time to track my weight-loss and push-up goals, since I weigh in on Saturdays. Yesterday, however was super busy. It was all good, but full.
Starting Friday: After work, I rushed my oldest to the B-squad wrestling tournament, where he took first place in his weight bracket. When I got home, I fell asleep almost immediately.
Saturday, we woke up and rushed to the varsity tournament. It was his first time wrestling varsity. Now, he wrestles for a youth league. Participants vary from 3rd to 8th grades. My son is 11, 5′ 7″, and 150 pounds. Guess who he wrestles? Almost exclusively eighth graders. He lost both of his matches, but he put in a great showing. He lasted a round and a half against the top-rated kid in his bracket and managed to get quite a few points.
After that, we rushed home, made dinner for some friends and went to a movie. Red Riding Hood is worth seeing. We got home at 1 and immediately fell asleep. This is the first time I’ve had the computer on at home since Thursday night, other than to check movie times and prices.
30 Day Project Update
This month, I am trying to do 100 perfect push-ups in a single set. I’m recording each session in a spreadsheet. I am currently up to 91 in a set and 261 in a session, spread across 5 sets. I’m expecting to be down in my next session, since I’ve totally slacked off the few days.
Weight Loss 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 40 pounds since January 2nd. That’s 2 pound since last week. I’ve dropped 7 pounds in March, while doing an insane amount of push-ups and packing on a few pounds of muscle.
Total Inches: I have lost 24 inches in the same time frame, down 1.5 inches since last week. I’ve lost 7 inches each off of my waist and hips. It’s time to go clothes shopping, which sucks. I manage to avoid doing that for a year or more at a time, but now, my pants have stopped fitting. When I cinch my belt to where it actually fits, my jeans have pleats.
Best Posts
The recording industry has sued Limewire for damages totaling more than the economic value of…Earth.
Making money line is easier when you’re not bing conned. PT has a list of legit paying survey sites.
I’d love to raise chickens. It’s technically allowed in my city, but only with a permit that the city refuses to issue.
LRN Timewarp
This is where I review the posts I wrote a year ago. Did you miss them then?
I wrote Fall from Grace, a post about how and why I got into debt.
There was also a post on credit repair.
Carnivals I’ve Rocked and Guest Posts I’ve Rolled
You’re Gonna Die, Part 1 was included in the Totally Money Carnival.
Getting Out of Debt: The Prime Rule as included in Carnival of Personal Finance.
Financial Pet Peeve: Fees To Receive Paper Bank Statements was included in the Festival of Frugality.
Thank you! If I missed anyone, please let me know.
Get More Out of Live Real, Now
There are so many ways you can read and interact with this site.
You can subscribe by RSS and get the posts in your favorite news reader. I prefer Google Reader.
You can subscribe by email and get, not only the posts delivered to your inbox, but occasional giveaways and tidbits not available elsewhere.
You can ‘Like’ LRN on Facebook. Facebook gets more use than Google. It can’t hurt to see what you want where you want.
You can follow LRN on Twitter. This comes with some nearly-instant interaction.
You can send me an email, telling me what you liked, what you didn’t like, or what you’d like to see more(or less) of. I promise to reply to any email that isn’t purely spam.
Have a great week!
Money Problems – Day 3: What’s Coming In?
Today, I continuing the series, Money Problems: 30 Days to Perfect Finances. The series will consist of 30 things you can do in one setting to perfect your finances. It’s not a system to magically make your debt disappear. Instead, it is a path to understanding where you are, where you want to be, and–most importantly–how to bridge the gap.
I’m not running the series in 30 consecutive days. That’s not my schedule. Also, I think that talking about the same thing for 30 days straight will bore both of us. Instead, it will run roughly once a week. To make sure you don’t miss a post, please take a moment to subscribe, either by email or rss.
This is day 3 and today, you are going to take a look at your income.
We are only interested your take-home pay, because that is what you have to base a budget on. If you base your budget on your gross pay, you’re going to be in trouble when you try to spend the roughly 35% of your check that gets taken for taxes and benefits.
Income is a pretty straight-forward topic. It is—simply—how much money you make in a month. If you are like most people, the easiest way to tell how much money you make is to look at your last paycheck. Then, multiply it by the number of pay periods in a year and divide the total by 12.
Here’s the formula: Cash x Yearly Pay Periods / 12. Yay, math!
If you get paid every 2 weeks, multiply your take-home pay by 26, then divide by 12 to figure your monthly pay. For example, if you make $1000 every two weeks, your annual take-home pay is $26,000. Divide that by 12 to get your monthly pay of $2166.66. If you get paid semi-monthly, you’ll take that same $1000 x 24 / 12, for a total of $2000 per month.
Now you know how much you make each month. Woo!
Is it enough? Who knows? We’ll get into that later. In the meantime, spend some time thinking about ways you can make more money. Do you have a talent or a hobby that you can turn into cash?
- If you’re a craftsy type, make stuff and sell it on eBay or Etsy.
- If you’re a writer, start a blog, sell articles on oDesk, or start writing for paid article directories. Squidoo has a revenue sharing plan for your articles.
- Facebook maven? Start making Pages for companies. They will pay for it.
- Are you mechanically inclined? Watch your local free market sites for lawn mowers and snowblowers that don’t run. You can fix them up and sell them.
- If you’re a clean freak, start a home-cleaning service on evenings and weekends.
There are always ways to make some extra money, if you are willing. Sit down with a friend or loved one and brainstorm what you can do. Write down anything you can do, you enjoy, or you are good at. Remember, there are no stupid ideas when you are brainstorming. The bad ideas will get filtered out later.
How could you make some (more) side cash?
Sunday Roundup – Nook Failure
This week, I spent more than 2 hours, 20 emails, and 30 miles trying to convince UPS and Barnes & Noble to get me a Nook that I paid for 3 weeks ago. Hopefully, I’ll have it early this week. If not, I’m giving up. The only other action I’m willing to take to get this resolved is to call my credit card company and file a chargeback.
Fun!
Weight Loss 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 41 pounds since January 2nd. That’s no progress since last week. I’m still doing push-ups every day, so it’s not surprising that I’m flunking weight loss.
Total Inches: I have lost 22.5 inches in the same time frame, up half an inch since last week.
Best Posts
Five Cent Nickel had a post on tipping. I always tip, but I don’t consider 15% to be a requirement. If the service sucks, I tip just a few cents. If the service is great, I easily and always clear 20%. A friend tried telling me that servers expect 20% to be standard, but that’s nuts. They aren’t the people who get to make that decision.
Money Crashers talked about traveling for free. In anticipation of the Financial Blogger Conference in October, I opened a travel rewards card. I’m hoping to make the trip for free.
I watched a TedTalk yesterday about teaching kids about electricity with homemade play-dough. This is a project that will be happening.
Carnivals I’ve Rocked and Guest Posts I’ve Rolled
Narrow Bridge Finance ran my post, Monsters, while I ran his, Living the High Life, for the Yakezie blog swap, answering the question “What motivates you financially?”
Negotiating Superstar was included in the Carnival of Personal Finance.
5 Ways to Change Your Spending Habits was included in the Totally Money Blog Carnival.
Thank you! If I missed anyone, please let me know.
Get More Out of Live Real, Now
There are so many ways you can read and interact with this site.
You can subscribe by RSS and get the posts in your favorite news reader. I prefer Google Reader.
You can subscribe by email and get, not only the posts delivered to your inbox, but occasional giveaways and tidbits not available elsewhere.
You can ‘Like’ LRN on Facebook. Facebook gets more use than Google. It can’t hurt to see what you want where you want.
You can follow LRN on Twitter. This comes with some nearly-instant interaction.
You can send me an email, telling me what you liked, what you didn’t like, or what you’d like to see more(or less) of. I promise to reply to any email that isn’t purely spam.
Have a great week!