Skip to main content

Year and Week in Review - 2010

This week has been relatively relaxed for me and I will admit that I have really enjoyed it. By my nature, I am a doer. I like to feel like I accomplished something; this goes along with my work ethic I suppose. But one thing that sticks with me about vacations is something that my grandfather told me and it still rings true: Vacations can be expensive. What he means is simply that the more leisure time you have, the more things you'll want to do with that time that take money. This can be things that are hobbies, travel, or even home repair. All of these things take money -- money that you'd otherwise save if you had been working instead. So in that respect, unless you alone in a public park, homeless, and not eating food on your leisure time, leisure time is expensive.

Well, this week I noticed that this still remains the case, but I feel like I did relatively well. For a full week off, I spent only about a hundred dollars for travel, food etc. Given that I normally spend about that much during a week at work for gas, parking, and lunches, I figure I probably did just fine. But I will say that it was a pretty conscious effort.

Christmas has strapped the finances, despite good and early planning. As expected, there were the "unexpected" gifts, food, excursions which all had to be paid for. And given a big trip that is coming up in a few months, I've resisted the temptation to let these debts linger on credit. I want to make sure my finances are strong going into this trip and that does not include credit card balances. While I'd like to think that there is nothing wrong with the level of spending, I know that this could be improved. I am continuing to work on ways to reduce the cost of my lunches by "brown bagging" it, but it is difficult. There was very little expense on Christmas decorations per se however. Wrapping paper and ribbon for 10 dollars was probably the biggest expense.

Besides my finances, I've also begun to take a fresh look at my health; I found that it was a bit lacking since I had not been going to the gym as regularly as I should. So I took the time and decided to start back again. The membership is not exactly cheap, so I should make the most of it.

Comments

Popular posts from this blog

Blogging WealthTrack: Christine Benz (Retire Early? Or not?)

 This morning I've watched an interesting video on Consuelo Mack: WealthTrack. Here, Consuelo's guest, a longtime contributor, Christine Benz, a personal finance expert from Morningstar joined Consuelo for a discussion on issues related to retirement, in particular in the current market environments. This conversation is even more interesting against the backdrop of The Great Resignation. I found Christine's advice to be particularly interesting on a couple of fronts. Her advice in dealing with talking about retirement in general, in particular for people who are in the process of thinking about retiring early gave me pause. She is considering the traditional advice of a 4 percent withdrawal rate to be dangerous and indeed, actually concerning. According to the recent research she cites, a 3% withdrawal rate is a better option. Even more than the four percent rule, I think that her comments on annuities are particularly interesting. While annuities have been given a bad nam

More Money Into Ibonds

 At this point, it seems like a well-known strategy for handling inflation: ibonds. While there was not much press about this, it is in fact something that I did late last year in order to capitalize on the fact that this interest rate was bound for up to 10000 dollars as part of my allotment for 2021. Then now that we're in the new year, I have moved another 10000 into the account. All of this can be done easily at http://treasurydirect.gov if you're willing to give up the fact that the money is locked up, that the interest rates to be paid will be somewhat lower than you could earn in the market, and you're able to ensure that you're not needing the money for the near future.  For me personally, I find that this is a great way to lock up about 25% of my emergency (safe) money instead of putting it into a High Yield Savings account. This interest rate changes every six months, but even if it is much lower, I think that we're going to be in much better shape than if

Credit Report Review

So, one of the things that I've started doing is trying to pull my credit reports at regular 4 month intervals so that I get a free one frequently to make sure that things are progressing as I'd like them to and also as a safeguard against identity theft. Of course, the part that I don't like is that these reports don't include a fico score - the key number when it comes to determining if you are going to be extended credit and at what interest rate. This time, I got the report from Equifax - I went to the end of the process and for 8 dollars more I could get my credit score. And the Equifax gave me a credit score of 742. This of course is not even close to the perfect score of 850 when it comes to fico score nirvana, but 742 is still a respectable fico score. Things to improve are basically lowering my balances on my credit cards and loans, which I already have a plan for. And also I noticed that the amount that I paid off on one of my loans is actually still being rep