Forgive me I know it's long winded
Alright so it took me a few hours but I read all 18 pages and did the steps assigned to get my plan started. I have always kept track of my money so I used some figures that I knew, and I started an excel sheet with purchases that I am going to make. But since I am in college I haven't really had any expenses except $20 for pizza a week ago, and $50 for gas last Sunday when I went to visit my girlfriends mom in another state. So here is what I came up with
Pt. I written 12/14/11
A. Core Values/What Is Important To Me
I value time
Power
Control
Confidence
Freedom
Respect
Knowledge/Learning
Spontaneity
Thinking
Independence/Self-reliance
Nature
Humor
Dreams
Being fit
Finding happiness
Integrity, honesty, accountability, loyalty
Financial security
Living security/privacy
Providing for my future family (in every aspect)
Thrill seeking/Risk taking/Adrenaline
Adventures
This was supposed to be a table(it was on word doc), forgive the formatting
Time 0:00
Power +
Control Control
Confidence C
Freedom F
Respect R
Knowledge K
Spontaneity S
Thinking T
Independence 1
Nature N
Humor Haha
Dreams D
Health H
Happiness
Integrity I
Financial Security$
Living Security L
Providing P
Adrenaline A
Adventures Quest
B. Wanted But Thrill Was Gone
This is a challenging category because I only buy things that I want and I learned from a very early age what I want and how to get it. If I wanted anything I had to work for it which made me frugal in some senses, but I do spend money on items that I feel have purpose (IE: Ipod Nano – something small and portable with a touchscreen for easy use while I work out). To other people the items I have might seem like a waste but in my mind there is a reason (IE: Having multiple water bottles or TVs – Having a TV in both my college dorm room and my house makes it convenient when I travel back and forth, just like having multiple water bottles and shakers makes it convenient for me to have a pre-workout shake, intra-shake, and post shake). Most of the large items that I purchase I shop around for and get at great deals so that helps. I will say that recently the one purchase I made and no longer want is my 2007 Dodge Charger R/T ($17,200). AWD, V8 Hemi, I put a custom exhaust on it ($1,200), halo headlights ($299), custom paintjob ($2,000), Diablosport predator tuner ($400), the list goes on. I spent a ton of money on it and it is so fun driving it, but I would rather start a business with the money which is why I am selling it this spring. I bought it under KBB so I should be able to get at least $23k for it, and I consider it a neutral investment since I am pretty much breaking even on it.
C. Things I like To Be Around
Warmth (Warm weather, a nice fire)
Starry nights
Campfires
Beaches
Cabins/Vacation homes (Being in cabins gives me a feeling of nostalgia)
Positive, supportive people
Intelligent people
Successful people (Though they have to be intelligent)
Good conversation (Again with intellectuals)
People who are masters at their trade
People who have similar Core Values (Non-conformists)
C. What I Really Want
To try new things (Anything that creates a memorable experience)
Friends (With depth)
Cars/Motorcycles
To learn (I like to sit back and listen sometimes because it helps you pick up on subtleties)
To impress people
To build things or handiwork (Mechanics/Carpentry)
Alone time (For relaxation and to clear my head)
Flexibility (Doing what I want when I choose)
Success
To travel (Culture myself more)
To learn a few languages (Spanish, French, Italian, Portuguese)
Learn to dance well (Waltzing to breakdancing)
Many Corvettes (ZR1, C7, Z06, and to restore my late father’s ‘69 Stingray…427 big block, nbd)
D. Things I Like To Do
Red: Haven’t done it in a while Green: Do it frequently
Drive (I love driving anywhere, it lets me think and gives me freedom) [F,S,T,1,D,,A,Quest]
Music (Listen to music/Play the guitar & drums) [C,R,K,]
Art (Watch movies/Act/Draw) [C,R,K,]
Earn money (I always feel accomplished when I earn money) [0:00,+,Control,C,F,R,1,D,"),$,L,P]
Workout/MMA/BJJ/Muy Thai [+,C,H,]
Handiwork/Building things [K,L,P,]
Mechanics [K,L,P,]
Impress people [Control,C,R,T,]
Boating/Fishing/Hunting/Camping/Archery [C,F,K,S,T,1,N,Haha,H,,A,Quest]
Shooting [Control,C,N,,A]
Helping people or give advice [R,T,,I,P]
Sports [C,N,H,,A]
Hanging out [S,]
Watch some TV []
Pt. II
Track Expenses – See Excel Spreadsheet
– See Mint.com
Monthly Expenses
Car insurance
Since I go to school I pay for housing which is roughly $12,000 a year. It is a rip off so I will be moving into an apartment with my roommates and it should be at least $2,000 cheaper just off of the cost of living. Since I will then no longer be forced into purchasing a $2,300 - $2,700 meal plan I will most likely be spending $200/month on food or less if I shop with my roommates and we go to Costco’s or BJ’s. I know the $200/month figure because I shopped for myself for a few months and that is what I lived off of in that area of spending. I plan on selling my car which will give me the capital for my business that I need, and I want to buy a cheap, old car that gets decent fuel mileage. I can do the work on it myself which will cost me time but it will be immensely cheaper, especially on gas and insurance. I currently own 2 motorcycles (one was a starter bike and the other was a nicer one I purchased from my friend for extremely cheap) and I am in the process of selling the starter bike. I want to keep one bike because I have already faced the facts that I need one to keep me sane and in this aspect I am going to argue with Russ and say there is a reason for having a bike, and a newer one at that. Those are 1) for the convenience of needing it to be reliable, as I usually take my bikes on long trips from Rhode Island to Massachusetts (roughly 96 miles) and 2) it costs me less in a new bike in gas than it does with an older bike, or my car. Other than that at home I live with my grandmother who doesn’t charge me rent because I am in school, so the only real bills I have are my phone ($70/month), gas ($240/month which hopefully will be reduced by switching cars), haircuts ($20/month), clothing ($400/year – I go through shoes like water), supplements and vitamins ($500/year), insurance ($2,280/year for my bike and car – this will lower by $1,000 when I switch cars, maybe more), and a monthly allowance of $50 that is spent on anything random that I have to purchase or pay for.
My monthly expenses are: $1,111.57 (excluding my housing and meal plan through the school)
I almost always pay for everything upfront and in full (IE: insurance I get better discounts to pay the entirety of it at the beginning of each year) so I don’t consider a lot of things part of a monthly expense, however the number that I come up with is $1,111.57. It might not seem like a lot to adults who have a full time job, but I think that that is a lot compared other college students. I have always been very conscious of my credit cards and my bank accounts, however this past September was the first month in 3 years that I have not paid of my credit cards in full because I transferred schools and the books were a bit more expensive, but I almost have them paid off completely. I have been using mint.com to track my money recently, but I have always kept track of all my money spent. My mother pays for my doctor’s bills and dentist visits, so I don’t have to worry about that, and everything else is pretty much covered when I set aside money for it at the beginning of each year. The only loans I have are for my schooling and I’ve made a few payments on the interest (I have a lot of scholarships and grants so that helps). I actually have tried not to spend money recently because I hate debt and I have purchased everything that I need or want at the moment, so I have no real need other than the occasional nicety.
Pt. III
Residence On Fire
My school has fire drills once a month and every time I am caught at 3am or coming out of the shower I grab my backpack and throw in my External HD (that contains pictures, documents, information, etc…), both my laptops, my ipad and ipods, my wallet, keys, and I always have all my personal documents and things of that nature in a fireproof safe under my bed. Those are just the things I instinctually grab because it would be a hassle to replace them. The rest of the stuff can go and is replaceable and not worth my time to struggle to bring out (even though I live on the ground floor and I could throw everything out my window).
If I had to move:
Computer 1 $1,000 Ipad Classic (80G) $100
Computer 2 $1,000 Phone (HTC Thunderbolt) $400
External HD (pics & docs) $100 Clothes/Suits $3,000
Ipad $1,200 Camping Equip. $3,000
Safe $200 Hunting Equip. $35,000
Important Documents Priceless Motorcycle Equip. $2,000
Ipad Nano $200 Car $20,000
Ipad Classic (160G) $200 Motorcycle $6,000
If I had to move I would take my electronics, documents, and a few memorable items that I enjoy having. If I cannot purchase anything after the move I would take my car, motorcycle, some clothes and suits, and some sports equipment as well. I have most of my information stored in at least 3 places, and I make sure to have all my gadgets work in conjunction with one another. The Mobileme application on my ipad lets me track my other apple devices, computer, and phone on a gps. And my phone and laptops can track the ipad as well. I know how useless AT&T is when it comes to having an iphone stolen so I try to prevent that before it happens. I have had my wallet stolen once as well and I know how much of a hassle it is to replace it so of course I’d take that. My inventory list isn’t too large because I moved a lot as a teenager and most of my childhood belongings got destroyed in the 4 floods I’ve had… So most of the purchases are from the past 5 years and fit my lifestyle; however I’m used to living in 1 small room where I keep all my belongings. Every time I moved I kept less and less and it has definitely helped me consolidate my life. I’ve always had sleeping problems though so again if I can’t buy anything I would have to bring my bed which is better than sleeping in my car haha.
Alright so it took me a few hours but I read all 18 pages and did the steps assigned to get my plan started. I have always kept track of my money so I used some figures that I knew, and I started an excel sheet with purchases that I am going to make. But since I am in college I haven't really had any expenses except $20 for pizza a week ago, and $50 for gas last Sunday when I went to visit my girlfriends mom in another state. So here is what I came up with
Pt. I written 12/14/11
A. Core Values/What Is Important To Me
I value time
Power
Control
Confidence
Freedom
Respect
Knowledge/Learning
Spontaneity
Thinking
Independence/Self-reliance
Nature
Humor
Dreams
Being fit
Finding happiness
Integrity, honesty, accountability, loyalty
Financial security
Living security/privacy
Providing for my future family (in every aspect)
Thrill seeking/Risk taking/Adrenaline
Adventures
This was supposed to be a table(it was on word doc), forgive the formatting
Time 0:00
Power +
Control Control
Confidence C
Freedom F
Respect R
Knowledge K
Spontaneity S
Thinking T
Independence 1
Nature N
Humor Haha
Dreams D
Health H
Happiness
Integrity I
Financial Security$
Living Security L
Providing P
Adrenaline A
Adventures Quest
B. Wanted But Thrill Was Gone
This is a challenging category because I only buy things that I want and I learned from a very early age what I want and how to get it. If I wanted anything I had to work for it which made me frugal in some senses, but I do spend money on items that I feel have purpose (IE: Ipod Nano – something small and portable with a touchscreen for easy use while I work out). To other people the items I have might seem like a waste but in my mind there is a reason (IE: Having multiple water bottles or TVs – Having a TV in both my college dorm room and my house makes it convenient when I travel back and forth, just like having multiple water bottles and shakers makes it convenient for me to have a pre-workout shake, intra-shake, and post shake). Most of the large items that I purchase I shop around for and get at great deals so that helps. I will say that recently the one purchase I made and no longer want is my 2007 Dodge Charger R/T ($17,200). AWD, V8 Hemi, I put a custom exhaust on it ($1,200), halo headlights ($299), custom paintjob ($2,000), Diablosport predator tuner ($400), the list goes on. I spent a ton of money on it and it is so fun driving it, but I would rather start a business with the money which is why I am selling it this spring. I bought it under KBB so I should be able to get at least $23k for it, and I consider it a neutral investment since I am pretty much breaking even on it.
C. Things I like To Be Around
Warmth (Warm weather, a nice fire)
Starry nights
Campfires
Beaches
Cabins/Vacation homes (Being in cabins gives me a feeling of nostalgia)
Positive, supportive people
Intelligent people
Successful people (Though they have to be intelligent)
Good conversation (Again with intellectuals)
People who are masters at their trade
People who have similar Core Values (Non-conformists)
C. What I Really Want
To try new things (Anything that creates a memorable experience)
Friends (With depth)
Cars/Motorcycles
To learn (I like to sit back and listen sometimes because it helps you pick up on subtleties)
To impress people
To build things or handiwork (Mechanics/Carpentry)
Alone time (For relaxation and to clear my head)
Flexibility (Doing what I want when I choose)
Success
To travel (Culture myself more)
To learn a few languages (Spanish, French, Italian, Portuguese)
Learn to dance well (Waltzing to breakdancing)
Many Corvettes (ZR1, C7, Z06, and to restore my late father’s ‘69 Stingray…427 big block, nbd)
D. Things I Like To Do
Red: Haven’t done it in a while Green: Do it frequently
Drive (I love driving anywhere, it lets me think and gives me freedom) [F,S,T,1,D,
,A,Quest]Music (Listen to music/Play the guitar & drums) [C,R,K,
]Art (Watch movies/Act/Draw) [C,R,K,
]Earn money (I always feel accomplished when I earn money) [0:00,+,Control,C,F,R,1,D,"),$,L,P]
Workout/MMA/BJJ/Muy Thai [+,C,H,
]Handiwork/Building things [K,L,P,
]Mechanics [K,L,P,
]Impress people [Control,C,R,T,
]Boating/Fishing/Hunting/Camping/Archery [C,F,K,S,T,1,N,Haha,H,
,A,Quest]Shooting [Control,C,N,
,A]Helping people or give advice [R,T,
,I,P]Sports [C,N,H,
,A]Hanging out [S,
]Watch some TV [
]Pt. II
Track Expenses – See Excel Spreadsheet
– See Mint.com
Monthly Expenses
Car insurance
$1,900/year
Food $4800/year
Clothes & Shoes $400/year
Gas $240/month
Motorcycle Insurance $380/year
Alcohol $400/year
Random $600/year
Phone $70/month
Haircut $20/month
Health Products (supplements, grooming products) $500/year
School Housing $12,000/year
Books $1,400/year
Total: $1,111.57/month (w.o housing and meal plan)
Total: $2,261.58/month (w. housing and meals)
Since I go to school I pay for housing which is roughly $12,000 a year. It is a rip off so I will be moving into an apartment with my roommates and it should be at least $2,000 cheaper just off of the cost of living. Since I will then no longer be forced into purchasing a $2,300 - $2,700 meal plan I will most likely be spending $200/month on food or less if I shop with my roommates and we go to Costco’s or BJ’s. I know the $200/month figure because I shopped for myself for a few months and that is what I lived off of in that area of spending. I plan on selling my car which will give me the capital for my business that I need, and I want to buy a cheap, old car that gets decent fuel mileage. I can do the work on it myself which will cost me time but it will be immensely cheaper, especially on gas and insurance. I currently own 2 motorcycles (one was a starter bike and the other was a nicer one I purchased from my friend for extremely cheap) and I am in the process of selling the starter bike. I want to keep one bike because I have already faced the facts that I need one to keep me sane and in this aspect I am going to argue with Russ and say there is a reason for having a bike, and a newer one at that. Those are 1) for the convenience of needing it to be reliable, as I usually take my bikes on long trips from Rhode Island to Massachusetts (roughly 96 miles) and 2) it costs me less in a new bike in gas than it does with an older bike, or my car. Other than that at home I live with my grandmother who doesn’t charge me rent because I am in school, so the only real bills I have are my phone ($70/month), gas ($240/month which hopefully will be reduced by switching cars), haircuts ($20/month), clothing ($400/year – I go through shoes like water), supplements and vitamins ($500/year), insurance ($2,280/year for my bike and car – this will lower by $1,000 when I switch cars, maybe more), and a monthly allowance of $50 that is spent on anything random that I have to purchase or pay for.
My monthly expenses are: $1,111.57 (excluding my housing and meal plan through the school)
I almost always pay for everything upfront and in full (IE: insurance I get better discounts to pay the entirety of it at the beginning of each year) so I don’t consider a lot of things part of a monthly expense, however the number that I come up with is $1,111.57. It might not seem like a lot to adults who have a full time job, but I think that that is a lot compared other college students. I have always been very conscious of my credit cards and my bank accounts, however this past September was the first month in 3 years that I have not paid of my credit cards in full because I transferred schools and the books were a bit more expensive, but I almost have them paid off completely. I have been using mint.com to track my money recently, but I have always kept track of all my money spent. My mother pays for my doctor’s bills and dentist visits, so I don’t have to worry about that, and everything else is pretty much covered when I set aside money for it at the beginning of each year. The only loans I have are for my schooling and I’ve made a few payments on the interest (I have a lot of scholarships and grants so that helps). I actually have tried not to spend money recently because I hate debt and I have purchased everything that I need or want at the moment, so I have no real need other than the occasional nicety.
Pt. III
Residence On Fire
My school has fire drills once a month and every time I am caught at 3am or coming out of the shower I grab my backpack and throw in my External HD (that contains pictures, documents, information, etc…), both my laptops, my ipad and ipods, my wallet, keys, and I always have all my personal documents and things of that nature in a fireproof safe under my bed. Those are just the things I instinctually grab because it would be a hassle to replace them. The rest of the stuff can go and is replaceable and not worth my time to struggle to bring out (even though I live on the ground floor and I could throw everything out my window).
If I had to move:
Computer 1 $1,000 Ipad Classic (80G) $100
Computer 2 $1,000 Phone (HTC Thunderbolt) $400
External HD (pics & docs) $100 Clothes/Suits $3,000
Ipad $1,200 Camping Equip. $3,000
Safe $200 Hunting Equip. $35,000
Important Documents Priceless Motorcycle Equip. $2,000
Ipad Nano $200 Car $20,000
Ipad Classic (160G) $200 Motorcycle $6,000
If I had to move I would take my electronics, documents, and a few memorable items that I enjoy having. If I cannot purchase anything after the move I would take my car, motorcycle, some clothes and suits, and some sports equipment as well. I have most of my information stored in at least 3 places, and I make sure to have all my gadgets work in conjunction with one another. The Mobileme application on my ipad lets me track my other apple devices, computer, and phone on a gps. And my phone and laptops can track the ipad as well. I know how useless AT&T is when it comes to having an iphone stolen so I try to prevent that before it happens. I have had my wallet stolen once as well and I know how much of a hassle it is to replace it so of course I’d take that. My inventory list isn’t too large because I moved a lot as a teenager and most of my childhood belongings got destroyed in the 4 floods I’ve had… So most of the purchases are from the past 5 years and fit my lifestyle; however I’m used to living in 1 small room where I keep all my belongings. Every time I moved I kept less and less and it has definitely helped me consolidate my life. I’ve always had sleeping problems though so again if I can’t buy anything I would have to bring my bed which is better than sleeping in my car haha.
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