Progress Report - For week ended 6/8/08

So here are my goals for June 2008:

1. Publish Debt Freedom book (online or otherwise) - I am doing the editing (Typing ) process right now. Just gone done with Chapter 3 and i plan to finish chapter 4 tonight as well - God willing. If I can get focused I can get all the typing done this week. Then I'd like to add a few extra sections and possibly some quotes but first I need to finish up typing - again hopefully by the end of next week.
   
2. Join (or start) an entrepreneur's group - I looked for one online last week but there first meeting isn't until the end of June - maybe if I look harder I'll find one for this week?
   
3. post at least 25 blogs this month - As I look at my blogs for June it looks like I've published 6 so far and this will make for 'number seven' so at this pace I will achieve this goal on time but, It wouldn't hurt to achieve it way early either.
   
4. **Subscribe to Inc Magazine - SUCCESS -Ha ha! I beat up the procrastinator-side-of-me and locked him in a closet shortly after writing this goal so I could send in a handy dandy check for Inc . & Fast Company for the super-low price of $15. Now If I can just find a way to get that procrastinator-side-of-me from the closet over to a walk in industrial freezer somewhere - I think I might have a very productive rest of the year.
   

So the first week is going pretty good. It doesn't hurt that the sun is out and I become more enthusiastic when it's sunny and warm outside. If i can keep hype the whole summer I might accomplish something great. Or at least meet my New year's resolution...

Progress Report for week ended 5/18/08

I'm having multiple technical difficulties with my computer recently so I am writing from the ole' library and I must be brief. here are my goals for May:

1. Write a book about Debt - I've written the 1st -5th chapters I plan to work on the 6th chapter tonight.
2. Increase budget on Wedding account to $7500 - I recently learned i will be financially responsible for making sure some of my guests are taken care of. Because of this, I am holding off on contributions to the wedding account and allowing my fiance to handle these.
3. Put at least 3 items on E-bay to sell - still slacking - maybe if my computer comes back off of life support I will dabble in this this weekend. Then again maybe not.

I did get that 'economic stimulus' check and I spent half about a quarter of celebrating - yours truly's birthday. I am also no longer a 20 something but, a 30-something now. Kind of funny - I thought I'd be richer, taller or better looking by now. Oh well...

Financial Goals for week of 8/6/07

For this coming week, I have one main goal:

1. Stop spending until next paycheck!

I think I immediately over-reacted to being debt free and almost outspent my budget:

I had about $160 available to spend on what I wanted - and boy did I!

Over the weekend, I went to work at the 2nd job on Friday and Saturday. While there, I ate mall food on both days Friday for about $4, Saturday for about $7.

Also On Friday I bought a publication that I had been meaning to buy to congratulate myself - it set me back about $16. I also gave 3 -weeks notice at my 2nd job - mainly so I can go on a shopping spree once back from vacation.

While at work on Saturday I realized my dress shirt was a little tattered and I bought a new one for about $8 with all the discounts. On Saturday, after work, on the way to visit my girlfriend I bought a $2 energy drink from the gas station. Once I got to my girlfriend's place we went and got something quick to eat at a semi-fast food place that set me back $7. We wanted to go see a movie but, beforehand I told her I wanted to try and look at some shoes at a department store. We did and she picked out a pair that she liked since my current sense of style is 'Sooo 2003'. The shoes were reasonably priced but set me back about $31 & change. Then we went to the movie and I paid $16 & change. My girlfriend wanted to get popcorn there too but the last shred of cheapskate in me wouldn't allow me to spend any money on the popcorn. She bought some for herself instead.

Today(Sunday) we went to breakfast before going to her friend's church. She ordered steak & eggs, orange juice, coffee, I ordered a waffle combo & coffee. When the bill came my 'spend-what-you-want' budget took another $25 hit. Then we went to her friend's church for services offering/tithing knocked the budget down some more. My girlfriend did cook a very tasty steak & rice dinner for me at $0 so that was great!When leaving and heading home today, I filled my half-full tank and that took my budget down by another $16...

I haven't done all of the math yet or balanced my checkbook - which I plan to do tomorrow - but, from my running total I have in my head I think I spent a total of $150 on unplanned/unnecessary purchases in the course of 3 days. On Friday I was hopeful that I could spread out the $160 so that I would have $80 to spend this week and $80 to spend next week.

Honestly, I don't feel too terribly bad about this - seeing as I did need to blow off some financial steam. I just know that if I want to achieve a goal of retiring in my 40's, spending behavior like this will have to stop. I plan to spend the last $10 on food /celebration lunch with co-workers possibly.


In other news, I just checked my [shiny red 0% card] balance and the female, automated voice kindly told me "Your current balance is $0!" OK, maybe I just added the exclamation mark but, if that computer had any idea what I've been through to get to that $0 she would have been exclaiming too! IT'S OFFICIAL I'M DEBT FREE!!!!!!!!

1 day to go...TILL I'M DEBT FREE!!!!!!!!!!!!!!!!!!!!!!!!!!!!

OK let me be honest,

Technically, I am debt-free at this moment. The check is in the mail.

However, My money-market is in danger of accruing no interest and thus ruining my passive income for the month unless I get paycheck from my 2nd job today and deposit it into my money market along with money from another bank. Seeing as I don't want to lose that interest, I will be doing some running at lunch today.

I did call the credit card company yesterday to see if they had miraculously received my check after 1 day in the mail - they didn't. I expect it to hit there books on Monday. I only wish I could somehow record the automated credit card system saying "Your current balance is...$0" that would be Priceless...

July 2007 - Net Worth

So my net-worth for July appears to have increased about 10%. This is a little premature of course as I plan to rid myself of at least 20% of my Assets side over the next few days while simultaneously eliminating 100% of my Liabilities side - i.e., credit cards.

As far as liquid assets go - this will decrease my liquidity by almost 2/3rds - ouch! But it's worth it. Financial freedom I can almost taste it!

My car did appear to depreciate about 4%. Balancing that out - my 401K ended up appreciating about 4% so no real decline in the assets after the impending 'debt-free' check is written.

I wonder if I should put that in bold letters on the Memo section:

"DEBT FREE BITCHES!"

Somehow I think they might assess an 'impolite debtor' finance charge for that so I think I'll hold off.

V is for Victory - I'm DEBT FREE!

I officially determined my debt is paid off yesterday. I'm in kind of a good mood. I thought I'd add some mood music:

If You've never seen V for Vendetta - don't hit play. If you have, in this scene I play 'Evie'-short hair & all - while the credit card companies play "V"





This scene, the 'God is in the rain' scene, I think makes a good analogy of what I've gone through over the last several years. I've been trapped and lived a tortured life pretty much of my own making. At any time I could have given up all hope but a little over a year ago I made a decision that I needed to be free from this debt if it was the last thing I did. Now, as I've accomplished this goal I realize this experience, being in debt, was a necessary life lesson that I won't soon forget. This lesson from the school of hard knocks has also allowed me to appreciate the benefits of saving much more than I did beforehand and hopefully, with some willpower I'll be able to realize the benefits of budgeting as well.