Crystal G

I don’t know where this came from, I found it in my email that I’ve been cleaning out lately. I must have thought it was a good piece and wanted to save it. It’s about a man who came over to the U.S. in the 50’s with only $400 in his pocket and how he became a great success. He has some good advice in here:

Here’s a hindsight view from someone that came to the USA in 1956 with the grand sum of $400 and the promise of a job. Today my wife and I have a high 7 figure portfolio of municipal bonds and CDs, a primary home and a vacation home, both paid for, and two retirement pensions and two SS checks arriving like clockwork every month.

In every person’s life there are a very small number of very significant turning points. Take one bad turn and you can impact your future big time. I must also add that there is one factor that none of us have any control over and that is the date on which we were born, i.e. timing.

Factors that are important for success:

1) You need parents and an extended family that are great role models.

2) You need to buckle down, be very conscientious, and work very hard starting at grade school because without a good education behind you the road of life will be significantly tougher for you.

3) In the vast majority of cases you need a college education, preferably with a post graduate degree since the competition gets tougher and tougher all the time.

4) You need to get it right when you decide to marry. I have been married to a wonderful woman for 53 years. Divorces can be a finance killer, quite apart from all the unhappiness and stress.

5) You need to be the best employee you possibly can and keep improving your job skills so that when layoffs occur you aren’t one of the unfortunate ones to be let go.

6) You need to start a savings program when you get your first paycheck and stick with it.

7) You need to make the maximum possible contribution to your company 401K plan.

You need to live frugally, at least until you are very secure financially, then you can ease up a bit.

9) The good education helps again when it comes to managing your own finances. If you have good math skills, understand the power of compounding, understand the devastation that one large percentage loss can make to your portfolio, then you have an excellent chance of acquiring the skills needed to manage your own investments.

10) Being born in a good year can prevent you from meeting an early death in a war, keep you out of periods when the economy and job market go through a serious downturn, and allow you the opportunity to benefit from periods when jobs were plentiful (i.e. during the Cold War), and grow your investments very significantly during bubbles and periods like the nineties when the financial markets were unusually strong. Thus I am the first to admit that LUCK plays a huge role in one’s life.

Apparently I forgot to post this earlier this month. January was a bad month. February’s will be better.

I’m keeping track of my payments towards the remainder of our interest accruing debt (besides the house) to kinda see the progress as we reach my goal of having this gone by or in February 2010. So expect these posts monthly! Each month, seeing the progress should hopefully motivate me to stay on track with this.

• Starting Balance of Debt in January 2009: $2221.45
• Total Payments in January 2010: $2318.75
• Total Payments YTD: $8777.43
• Total Card Charges in December 2009: $2609.46
• Total Finance Charges For December 2009: $0
• Total Finance Charges YTD: $136.66
• Starting Balance for February 2010: $2712.16
• $0 Goal: April 2010

Notes for this month:
January was a big month, simply because I spent $1500 to have my brake system completely redone on the mustang. Dad also had a lot of automotive work done, which of course came out of my pocket. The key is to not let it get out of control It was just a bad bad month in general.

See also:
December 2009, November 2009, October 2009, September 2009

and My series of paying off dad’s loan in 8 months

Nothing of great importance is going on for me right now (that I’m willing to talk about here, anyway). I am steadily chipping away at the Grove membership manual that has been sorely lacking, as well as my CTP. I do a few web projects now and then for my Grove and for ADF, and I make sure I have personal time to just enjoy. Whether this is by watching deer outside with dad or going through boxes in the basement. The key thing for me is to find a balance between duties and life. For some reason people always seem to think I am overwhelmed or too busy with projects. That is simply not the case. I balance my life out very well. I reached a high point of busyness when I was taking my tax class, but that has long been over. I change tasks that I work on now and then, usually because I want to ride the “motivation” for a certain project until it runs out. Then I will move on to a different one. This works for me. I don’t have to complete everything right away, and I’m certainly not taking on anything new (unless it’s freelance work for extra $).

Speaking of taxes, I did get my return back on Friday. I got $1606 back, $114 of which went to state because of some of my freelance work. PA also has what is known as “Local” taxes, which I saved up $600 for throughout the year since work does not take out local taxes. I also spent $200 on some new clothes which was sorely needed as my duct tape was not holding up anymore The rest went to debt, and to starting my dad up his own checking account so I can see if switching him to that instead of credit will help us balance out our financial relationship some. On average he puts about $900 on my credit card, which is about what I pay into it every month, so this was clearly not working.

And before someone preaches to me about getting money back for taxes……I am not stupid. I know what taxes are. But I prefer not to “owe” taxes, I claim one of my exemptions and that is it. I do not care about your opinion on this matter.

I have not had much desire to blog about much of anything lately. I’m note entirely sure why. I’ve had things to write about, but most are summed up quickly and tweeted. I suppose twitter is taking away most of my blogging.

Each month for the last year I’ve wanted to see how many $0 days I could get. All costs are rounded.

February 01: Paid 6 month car insurance premium and $33 in gas
February 02: $0
February 03: $0
February 04: $30 in gas
February 05: Bi-Monthly Bill Payment Day
February 06: $0
February 07: $31 needless purchase
February 08: $0
February 09: $0
February 10: $0
February 11: $52 on some winter gear that I felt I was sorely lacking during snowpocalypse
February 12: $60 on taxes
February 13: $0
February 15: $0
February 16: $0
February 17: $0
February 18: $0
February 19: Bi-Monthly Bill Payment Day and $33 in gas
February 20: $37 on dinner
February 21: $0
February 22: $55 on some pest control supplies cause I have silverfish and stupid mice, $32 on gas
February 23: $0
February 24: $0
February 25: $0
February 26: Paid state and local taxes, $10 dinner with co-workers, $200 on clothes from tax return money, $35 on gas
February 27: $0
February 28: $0

Days in February not spending money: 17.
This is my last post of my $0 days. I said I’d do it for a year, and I started in March 2009.

Total $0 for the last year: 201 out of 365

See also: January, December, November, October, September, August, July, June, May, April, March

Each month I want to see how many $0 days I can get. All costs are rounded.

January 01: Bi-Monthly Bill Payment Day & $26 for some business supplies
January 02: $0
January 03: $34 in gas
January 04: $45 to support a local artist, $35 for a compost bin
January 05: $0
January 06: $100 dinner at Volt for Table 21
January 07: $36 on gas
January 08: $0
January 09: $0
January 10: $38 purchase
January 11: $1489 on new brake system for mustang
January 12: $0
January 13: $15 local tax payment
January 14: $36 in gas
January 15: $0
January 16: $0
January 17: $0
January 18: $0
January 19: $20 on gas
January 20: NEW Bi-Monthly Bill Payment Day due to payroll schedule change
January 21: $0
January 22: $36 in gas, $48 random purchase for the house
January 23: $0
January 24: $15 donation to my Grove for a workshop
January 25: $0
January 26: $35 in gas
January 27: $0
January 28: $0
January 30: Paid car insurance premium 6 months in advance
January 31: $0

Days in January not spending money: 15.
Decent month. My pay scheduled changed at work, so my debt payment reports have moved to the 5th and 20th of each month. The last one of these will be next month, and then I’ll have had a year of tracking and will post the entire total in March.

See also: December, November, October, September, August, July, June, May, April, March

Those on my Twitter, Myspace, or Facebook already heard this, but for those not on either, as of January 26th my dad’s leg is completely healed of ulcers after 18 months of failed treatments. We are continuing the Venacura medication that we started about 2 and a half months ago (the reason behind this miraculous healing) to see if it improves dad’s bloodflow enough to actually turn his leg a normal color (it’s been purple for years). Needless to say we are very happy about this, and expect that it will save us a lot of money just on gas from Dad running to the Wound Care Center all the time.

As for -my- knee, it’s almost back to 100%. I can straighten it and walk fine now, but I can’t press it backwards and sometimes I get sore if I sit too long. I expect it’ll just take more time to get to 100% again but I am very happy not to deal with the tendinitis anymore.

I went to get my taxes done last night by my cousin since we wanted to do them together for practice. Retirement accounts still mix us both up, and I really need to sit down and practice more. Finding the time is another story, however. They will hopefully be finished tomorrow, but it’s looking at about $1500 back, which is all going to the interest debt. I suspect it will be paid off in full in March, but I will still need to keep an eye on my dad’s use of it. Looking at November and December, he spends between $900-$1000 a month on it, which is about what I put on it every month, so that’s why it’s been stalling the last month or two. In theory I’d like to get his spending on it down to $200 or so, but the way he’s been having vehicle trouble lately I dunno.

I’ve been pondering opening up a checking account for him instead of letting him use my credit card. That way I can put a set amount into it and he’ll know what he has left to spend. I’m willing to experiment with it at least, till I can come up with a solution that works for us both.

Either way I am going to start paying off the last person that donated our down payment in March, and all freelance money I bring in will also go to that so I suspect it’ll be paid off sometime in the summer and then I am throwing all my extra cash towards the mortgage and into savings/retirement. I look forward to the day where I my extra money is going towards savings and not towards a debt. I’m slowly but surely getting there.

Some folks also have been asking me some financial questions that I’ll probably start organizing into actual blog posts and relate to my personal experiences at the very least.

I am very glad the holidays are over. We had my paternal family over last weekend for a holiday get-together, and I’m just glad to have all the Christmas Clutter down. Clutter drives me batty in general, having to deal with it for 2 months messes with my head.

I’ve been starting to think about what I want to accomplish this spring as part of my Imbolc and Equinox celebrations. Here’s a small list anyway:
- Complete my Nature Awareness essays for the CTP
- Make significant progress on the Grove Membership Manual
- Continue bringing in more money for our year-long fundraiser at the Grove
- Start putting money into my home improvement account again for bringing someone in this spring to see why the basement is leaking during heavy rains as well as a new hot water heater (my 2010 projects)
- Maybe start putting together things for a yard sale this spring when tourist season opens up
- Explore a little more of Gettysburg
- Tons of other small remedial tasks that are on my todo list

Here’s to a progressive and healthy 2010 I love it so far, despite some setbacks (new brakes anyone? ). But I’ve become an eternal optimist in my years it seems.

I’m keeping track of my payments towards the remainder of our interest accruing debt (besides the house) to kinda see the progress as we reach my goal of having this gone by or in February 2010. So expect these posts monthly! Each month, seeing the progress should hopefully motivate me to stay on track with this.

• Starting Balance of Debt in December 2009: $2937.26
• Total Payments in December 2009: $1757.17
• Total Payments YTD: $6458.68
• Total Card Charges in December 2009: $1013.36
• Total Finance Charges For December 2009: $28
• Total Finance Charges YTD: $136.66
• Starting Balance for January 2010: $2221.45
• $0 Goal: February 2010

Notes for this month:
At this point I think I’m hoping for a big tax return to still reach my goal for a $0 balance in February. Even after I hit that balance I’m going to have to make regular payments on this card just because it’s the one my dad uses to supplement how little money he has left over from his social security. I just have to really keep watch on how much he spends because sometimes I don’t think he realizes it.

See also:
November 2009, October 2009, September 2009

and My series of paying off dad’s loan in 8 months

I’m keeping track of my payments towards the remainder of our interest accruing debt (besides the house) to kinda see the progress as we reach my goal of having this gone by or in February 2010. So expect these posts monthly! Each month, seeing the progress should hopefully motivate me to stay on track with this.

• Starting Balance of Debt in December 2009: $2937.26
• Total Payments in December 2009: $1757.17
• Total Payments YTD: $6458.68
• Total Card Charges in December 2009: $1013.36
• Total Finance Charges For December 2009: $28
• Total Finance Charges YTD: $136.66
• Starting Balance for January 2010: $2221.45
• $0 Goal: February 2010

Notes for this month:
At this point I think I’m hoping for a big tax return to still reach my goal for a $0 balance in February. Even after I hit that balance I’m going to have to make regular payments on this card just because it’s the one my dad uses to supplement how little money he has left over from his social security. I just have to really keep watch on how much he spends because sometimes I don’t think he realizes it.

See also:
November 2009, October 2009, September 2009

and My series of paying off dad’s loan in 8 months

Amount of Debt paid off in 2009:

Debt Amounts Broken Down:
1. Dad’s Loan: $5516.41
2. Interest Accruing Debt: $6458.68
3. Friends Down Payment Loans: $775
4. Car Loan: $6204.30

5. Amount paid off on house (principal only): $2,220 (with interest and taxes: $12693.53)

Total: $18954.39

(including house principle: $21174.39)

Amount of Money saved in 2009:
1. Car Loan: $1900 due to paying off the car loan 2 years early
2. Cable/Phone/Internet: Saved $40/month by threatening to cancel. Will save me $480/year.
3. Bank interest: $51.87
4. New Back Deck: $2525 from insurance claim
5. $19.80 in MUD related Zazzle sales
6. $292.64 in MUD donations
7. $5.37 in personal Zazzle sales
8. Saved $391/year by paying 6 month car insurance premium all at once.
9. Hosting for the Grove Website: paid 2 years in advance at $118 every 2 years giving me a savings of $264.
10. Profit sharing from insurance company rebate: $47.22
11. Cash rewards from my USAA card: $63.35

Total: $6,018.38

Amount of tax refund in February: $9696 (which most went to paying off the car)

Amount of money made through freelance in 2009: $3842.50

Amount donated to charity: $515.22

Income increase from 2008: $7400/year at main job only.

I included house separately in the debt paid off total, because house payments somewhat skew the “extra work” that goes into debt repayment with the general populous. Since most people either pay rent or pay mortgage, it doesn’t really count as a debt repayment in this sense.

I wasn’t as gun-ho this year about finding ways to save money, because 2008 was such a stellar year for that, there really isn’t -that- much left I could reduce. Still I am always on the lookout for changes I can make to save money.

The interest accruing debt is a little skewed too, simply because it includes the amount of money my dad spends on my card right now, not necessarily debt. I just happen to pay it off every month and include that in the total.

Each month I want to see how many $0 days I can get. All costs are rounded.

December 01: Bi-Monthly Bill Payment Day
December 02: $38 on henna, $10 text deposit, $34 on gas
December 03: $0
December 04: $64 gift purchase
December 05: $0
December 06: $33 on gas
December 07: $0
December 08: $35 on gas, $16 on dinner
December 09: $20 on dinner, $38 on gifts, $21 text deposit.
December 10: $0
December 11: $0
December 12: $0
December 13: $0
December 14: $20 copay at doctors
December 15: $32 in gas
December 16: $0
December 17: $166 on final christmas gifts
December 18: $0
December 19: $0
December 20: $0
December 21: $0
December 22: $20 for a christmas tree, $40 cash withdraw
December 23: $0
December 24: $0
December 25: $0
December 26: $0
December 27: $27 on a gift replacement for my cousin
December 28: $0
December 29: $30 in gas
December 30: $0

Days in December not spending money: 18.

Most of the gifts purchases listed here are actually paid for out of my Christmas fund, not extra money from my paycheck. I put away a little every month throughout the year to save up all the money I budget for the holidays so that I’m not putting stress on myself at the end of the year.

Being at home for a week cause of my injury also helped save money on gas. It probably saved me $60 or more.

I’m gonna stop doing these in March, which will be a year worth of $0 days. Maybe I’ll post a big grand total in March with an average or something. But I think they’ve served their purpose, and spending as little as possible has become more of a habit than anything.

See also: November, October, September, August, July, June, May, April, March