Just wanted to share with you our pumpkin carving skills! Haven't carved a pumpkin since I was a child, and overall, pretty proud of the results. Now just have to work at taking quality pictures!!BeyondYourHorizon
Friday, October 31, 2008
Happy Halloween!
Just wanted to share with you our pumpkin carving skills! Haven't carved a pumpkin since I was a child, and overall, pretty proud of the results. Now just have to work at taking quality pictures!!
Family, Vacation and Spending
I've just returned from an extended weekend away visiting my mother, and wanted to touch upon the relationship we have, the cost of visiting her, the psycology of our spending and all the added expenses.
I was raised as an only child, in a single parent household, and I always feel that I should cover all the costs when I'm visiting my mother. I try to pay for everything, from the travel expenses, to our dinners out, shopping trips, coffee runs and groceries. Part of it is that its my way of saying thank you for all the things you sacrificed to raise me. Another part of it is knowing my mom doesn't make alot of money, lives paycheck to paycheck, and is still struggling. She is very open with her finances, and we've analyzed her income and budgeting, and have determined that she has to find a way to increase her income. But in the meantime, I tend to take financial responsability to cover our time together.
Even with restricted budgets, when we are visiting, we have a habit of enjoying in events together that blow both our budgets. Although individually we are both financially aware and practice good financial discipline, when we are visiting together, all logic goes out the window. It's almost as if we encourage bad decisions. I've never taken the time to actually calculate how much I spend in one weekend visiting, so here is my chance at honesty.
Travel: $220.00
Eating Out: $36.00
Grocery: $18.00
Gift: $43.00
Financially speaking, this visit was better than most. Minus the travel expenses, I spent about $100.00 for the weekend. I know that this total is better than most other visits, as all dinners over the weekend were cooked at home. This was our attempt at a frugal weekend. For us, this is not the norm. However, I have to admit it was a nice change.
I do feel like it is my responsibility to help out where my mom's finances fall short. I don't mind giving (not lending) money to help her out, especially when I know that typically she does live a very frugal life. I also like to give her gifts that she wouldn't buy for herself because they are too expensive, but I know she really wants. She struggled so much in her life, and I like knowing I can provide her enjoyment or make her life a little easier. But, is there ever a point where a line should be drawn to say it's not my responsibility? Are my actions hurting her in the long run? How do I help my mother increase her income so I don't feel like its my responsibility to cover her expenses?
I was raised as an only child, in a single parent household, and I always feel that I should cover all the costs when I'm visiting my mother. I try to pay for everything, from the travel expenses, to our dinners out, shopping trips, coffee runs and groceries. Part of it is that its my way of saying thank you for all the things you sacrificed to raise me. Another part of it is knowing my mom doesn't make alot of money, lives paycheck to paycheck, and is still struggling. She is very open with her finances, and we've analyzed her income and budgeting, and have determined that she has to find a way to increase her income. But in the meantime, I tend to take financial responsability to cover our time together.
Even with restricted budgets, when we are visiting, we have a habit of enjoying in events together that blow both our budgets. Although individually we are both financially aware and practice good financial discipline, when we are visiting together, all logic goes out the window. It's almost as if we encourage bad decisions. I've never taken the time to actually calculate how much I spend in one weekend visiting, so here is my chance at honesty.
Travel: $220.00
Eating Out: $36.00
Grocery: $18.00
Gift: $43.00
Financially speaking, this visit was better than most. Minus the travel expenses, I spent about $100.00 for the weekend. I know that this total is better than most other visits, as all dinners over the weekend were cooked at home. This was our attempt at a frugal weekend. For us, this is not the norm. However, I have to admit it was a nice change.
I do feel like it is my responsibility to help out where my mom's finances fall short. I don't mind giving (not lending) money to help her out, especially when I know that typically she does live a very frugal life. I also like to give her gifts that she wouldn't buy for herself because they are too expensive, but I know she really wants. She struggled so much in her life, and I like knowing I can provide her enjoyment or make her life a little easier. But, is there ever a point where a line should be drawn to say it's not my responsibility? Are my actions hurting her in the long run? How do I help my mother increase her income so I don't feel like its my responsibility to cover her expenses?
Friday, October 24, 2008
So what about those goals?
My last post exposed to everyone where I stand financially. This was the first time I've actually added together my student loan debt, and at the start of this blog, my net worth is tallied to -$18,723.16. Ouch. Today, I want to outline my goals to tackle increasing my net worth, and address other goals I think should be considered.
As I will be joining the work force in about a weeks time, my salary is marked for three things,
1. Savings
2. School Loan Repayment
3. Fun
and pretty much in that order. My fiances' pay is marked for household bills and savings. So, with that being said, below I set some short and long term financial goals:
Real Short Term Goals (3 month):
Financial
1. Increase cash available in savings to $12,500.
2. Roll-over: I have a non-vested pension that is doing nothing for me where it is now. Since I do not plan on returning to that field/company for future employment, there is no reason to keep it where it is. I have been dragging my feet (2 years now) about rolling it over, since I have not done the research on how and who to roll it over with. This needs to be done now!
3. Eliminate the balance on the PLUS loan that my mother is paying, balance $3,300.
4. Track monthly spending.
Other
5. The wedding planning needs to begin. We've both been dragging our feet, as neither of us are interested in planning this event. The only thing we've determined so far is that we want to have a smaller, personal gathering.
a) Determine location. This is our biggest hump. We both think if we figure out location, we will be more motivated to start on all the other plans.
b) Determine Venue
c) Find dress
d) Determine guest list
e) Find engagement ring
6. Blog- Its definately challenging to blog everyday, especially as schedules get hectic. Right now, I'm trying to log on three days a week to work on my blog. Beyond writing, the things I need to focus on are:
a) Fix the aesthetics of my blog. Right now, the header size is skewed, and I need to figure out how to resize it so its more appropriate.
b) Figure out how to add goal bars to the side of my blog to track my networth, financial and debt goals.
c) Add links to my favorite blogs.
d) Consider monetizing blog with advertisements.
Short Term Goals (6 month):
Financial
1. Increase savings to $16,500. My goals is to save $4000 every three months. After I see my progress for the first three months, I'll consider adjust this accordingly, but based on what I believe my monthly income is, I think this should be possible.
2. Once I have established $12,500 in savings, I want to open a retirement account, which I need to do alot of research prior to actually opening an account. So the steps I need to accomplish prior to having the financial goal is:
a) Research retirement options: 401k, Roth, or Roth-IRA
b) Research companies
c) Know and be confident in investment options
d) Open account, rolling over $3,000 from my savings
3. Eliminate one of my unsubsidized loans that has not been consolidated. I currently have two unsubsidized loans, the lower balance of the two is $3,556.
4. The rates from my graduate loans seem high given the current offers, and is at 6.8%. I don't think consolidating will offer any benefits, since how I understand it, the rate just gets averaged over all loans. Research other options for my educational loans. Is is possible to decrease the interest rate?
5. Analyze expenses, consider setting a budget, see where we can cut back on expenses.
Other
5. Wedding - Have everything planned in its entirety. Since I don't know everything that goes into this yet, I really don't know what to set as smaller broken up chunks.. I'll get back to this.
Right now, this list looks small, and I feel as though I should have some other substantial things to work towards. However, I think this is a good start and believe that everything stated here is reasonable and accomplishable. I plan to analyze my progress monthly, to keep me focused on accomplishing the goals outlined.
I would consider working on my blog this weekend, but I'll be away for the next for days! Yay! So you can look forward to seeing some aesthetic changes on the blog next week.
BeyondYourHorizon
As I will be joining the work force in about a weeks time, my salary is marked for three things,
1. Savings
2. School Loan Repayment
3. Fun
and pretty much in that order. My fiances' pay is marked for household bills and savings. So, with that being said, below I set some short and long term financial goals:
Real Short Term Goals (3 month):
Financial
1. Increase cash available in savings to $12,500.
2. Roll-over: I have a non-vested pension that is doing nothing for me where it is now. Since I do not plan on returning to that field/company for future employment, there is no reason to keep it where it is. I have been dragging my feet (2 years now) about rolling it over, since I have not done the research on how and who to roll it over with. This needs to be done now!
3. Eliminate the balance on the PLUS loan that my mother is paying, balance $3,300.
4. Track monthly spending.
Other
5. The wedding planning needs to begin. We've both been dragging our feet, as neither of us are interested in planning this event. The only thing we've determined so far is that we want to have a smaller, personal gathering.
a) Determine location. This is our biggest hump. We both think if we figure out location, we will be more motivated to start on all the other plans.
b) Determine Venue
c) Find dress
d) Determine guest list
e) Find engagement ring
6. Blog- Its definately challenging to blog everyday, especially as schedules get hectic. Right now, I'm trying to log on three days a week to work on my blog. Beyond writing, the things I need to focus on are:
a) Fix the aesthetics of my blog. Right now, the header size is skewed, and I need to figure out how to resize it so its more appropriate.
b) Figure out how to add goal bars to the side of my blog to track my networth, financial and debt goals.
c) Add links to my favorite blogs.
d) Consider monetizing blog with advertisements.
Short Term Goals (6 month):
Financial
1. Increase savings to $16,500. My goals is to save $4000 every three months. After I see my progress for the first three months, I'll consider adjust this accordingly, but based on what I believe my monthly income is, I think this should be possible.
2. Once I have established $12,500 in savings, I want to open a retirement account, which I need to do alot of research prior to actually opening an account. So the steps I need to accomplish prior to having the financial goal is:
a) Research retirement options: 401k, Roth, or Roth-IRA
b) Research companies
c) Know and be confident in investment options
d) Open account, rolling over $3,000 from my savings
3. Eliminate one of my unsubsidized loans that has not been consolidated. I currently have two unsubsidized loans, the lower balance of the two is $3,556.
4. The rates from my graduate loans seem high given the current offers, and is at 6.8%. I don't think consolidating will offer any benefits, since how I understand it, the rate just gets averaged over all loans. Research other options for my educational loans. Is is possible to decrease the interest rate?
5. Analyze expenses, consider setting a budget, see where we can cut back on expenses.
Other
5. Wedding - Have everything planned in its entirety. Since I don't know everything that goes into this yet, I really don't know what to set as smaller broken up chunks.. I'll get back to this.
Right now, this list looks small, and I feel as though I should have some other substantial things to work towards. However, I think this is a good start and believe that everything stated here is reasonable and accomplishable. I plan to analyze my progress monthly, to keep me focused on accomplishing the goals outlined.
I would consider working on my blog this weekend, but I'll be away for the next for days! Yay! So you can look forward to seeing some aesthetic changes on the blog next week.
BeyondYourHorizon
Saturday, October 18, 2008
Personal Finance ... Exploring the "Personal".
Of course, I would love to just jump right into stating my short and long term goals. But with the fear of burning out too quickly or being unrealistic, I will be taking baby steps to get there. Before setting financial goals, it is first necessary to understand my current financial situation. This requires being honest with myself regarding my assets, debts, incoming funds and spending. Now, I find this easier said then done, especially in a public realm. Putting myself on display to the whole world (albeit anonymously) is a little challenging, but more so because I have to honest with myself about the reality of my funds.
Since I have not yet determined how to link-in an excel file, I'm starting small with writing out my current standings. Proceeding onto baby step #1:
Assets:
Checking - $78.51
Savings - $8,634.52
Retirement - $4,966.83
Investments - $86.87
Car - $7,220.00
Total $20,986.73
Baby step #2... being honest about the debts. I fortunately have no credit card debt, as I pay off my credit card monthly. However, I have alot of educational debt ... which before today, have not totaled it up.
Debts:
School Loans (undergrad) - $16,042.05
School Loans (grad) - $20,296.00
School Loan (parent) - $3,371.84
Total $39,709.89
Since I have not yet determined how to link-in an excel file, I'm starting small with writing out my current standings. Proceeding onto baby step #1:
Assets:
Checking - $78.51
Savings - $8,634.52
Retirement - $4,966.83
Investments - $86.87
Car - $7,220.00
Total $20,986.73
Baby step #2... being honest about the debts. I fortunately have no credit card debt, as I pay off my credit card monthly. However, I have alot of educational debt ... which before today, have not totaled it up.
Debts:
School Loans (undergrad) - $16,042.05
School Loans (grad) - $20,296.00
School Loan (parent) - $3,371.84
Total $39,709.89
Ouch. The parent loan is listed up there seperately, as it is a plus loan my mother took out for me to assist me through the undergrad years. I feel that it is my responsibility to resume payments, and my goal to pay off first, which it is why I list is seperately.
I've actually recently graduated with my masters degree, and will start working in two weeks. With that said, I haven't yet estimated what my monthly income will total.
Then, like everyone else, there are fixed expenses that I am trying to currently reduce. I intend on looking at these on a monthly basis to offer insight to where our money is being spent. I know in advance that the expenditures I will be portraying will be skewed in comparison to my goals. I am responsible for maintaining all the finances in my household between my fiance and I, and will display our spending as such. However, the assets and debts are solely mine. I will talk about this most likely at a later time.
So, I welcome anyone who wants to join me on my journey and welcome any comments or advice. This blog is like my personal diary, and hope to use it to my advantage to learn more information and better my financial self.
BeyondYourHorizon
Thursday, October 16, 2008
Welcome ... To the world beyond your horizon!
Hello world.
Hello myself.
I've been a blog lurker for almost two years, and have decided that it is my time to make myself at home within this community. In this time I have found so much wonderful and inspiring information, and have also learned a great deal. However, I now think it is my time to put a plan in action and this is my attempt at becoming more accountable. I am one who likes to list my goals and see them completed over time, and think this forum will allow me to expand my goals beyond my own horizon.
So, with that being said, I'm laying out for you (and myself), plans for Beyond Your Horizon.
Main Focus: I have a passion for personal finance but definately consider myself a novice, so this will be a major focus in my writings. This includes accomplishing financial goals, financial education (especially when it comes to investing), and increasing financial stability. But this is also to include ways of saving and practicing frugality in this consumer driven world.
Other Mentionables: As with others, my interests do not strictly lie in personal finance, so you expect other parts of my life to show up on this blog. I think its easy to get so wrapped up in our daily lives, that we forget (or don't seem to have the time) to live life to the fullest. So, with that being said, a few topics that I can pre-warn you that will be found here from time to time is:
a) Life Goals - Goals beyond the financial realm. I am looking to step outside my comfort zone, and be a little adventurous.
b) Wedding Planning - As I recently am engaged, I will be discussing my thoughts on the industry, and possibly part of the planning process. I think of myself as non-typical when it comes to the bridal industry and find it not only overwhelming, but alot of it very unnecessary.
c) Hobbies - This may be sporadic, but I plan on having times of indulging in sharing best recipes, projects completed, lliving a healthier life style etc. Maybe a one a week thing.... this is pending.
Again, welcome to Beyond Your Horizon, and thanks for stopping bye!
BeyondYourHorizon
Hello myself.
I've been a blog lurker for almost two years, and have decided that it is my time to make myself at home within this community. In this time I have found so much wonderful and inspiring information, and have also learned a great deal. However, I now think it is my time to put a plan in action and this is my attempt at becoming more accountable. I am one who likes to list my goals and see them completed over time, and think this forum will allow me to expand my goals beyond my own horizon.
So, with that being said, I'm laying out for you (and myself), plans for Beyond Your Horizon.
Main Focus: I have a passion for personal finance but definately consider myself a novice, so this will be a major focus in my writings. This includes accomplishing financial goals, financial education (especially when it comes to investing), and increasing financial stability. But this is also to include ways of saving and practicing frugality in this consumer driven world.
Other Mentionables: As with others, my interests do not strictly lie in personal finance, so you expect other parts of my life to show up on this blog. I think its easy to get so wrapped up in our daily lives, that we forget (or don't seem to have the time) to live life to the fullest. So, with that being said, a few topics that I can pre-warn you that will be found here from time to time is:
a) Life Goals - Goals beyond the financial realm. I am looking to step outside my comfort zone, and be a little adventurous.
b) Wedding Planning - As I recently am engaged, I will be discussing my thoughts on the industry, and possibly part of the planning process. I think of myself as non-typical when it comes to the bridal industry and find it not only overwhelming, but alot of it very unnecessary.
c) Hobbies - This may be sporadic, but I plan on having times of indulging in sharing best recipes, projects completed, lliving a healthier life style etc. Maybe a one a week thing.... this is pending.
Again, welcome to Beyond Your Horizon, and thanks for stopping bye!
BeyondYourHorizon
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