To all who have posted today, Thank you.
Nurturing growth is a passion of mine (and a CORE value).
So I truly love what is happening here.
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Is this thinking on track or should I focus on jumping into an apartment deal?
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Yveskleinsky-
You have made a *fantastic* start:
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My core values are:
- honesty
- accountability
- learning something new everyday
- cultivating awesome friendships with awesome people
- loyalty
- stability
- happiness and laughing...a lot
- helping others who want to help themselves
- stability (organization in every aspect)
- personal development
- being a good friend
- trying new things- pushing my comfort zone
- squeezing every drop out of life (trying new things)
Things I like to be around:
- campfires
- pine trees
- good friends
- alcohol
- my dogs
- people who laugh a lot
- good conversation
- passionate and motivated people...people that are achieving their dreams
- anything creative...rehabbing a house, painting a picture, writing, etc.
Things I like to do:
- dinner parties with good friends
- jog
- walk my dogs
- rollerskating/ ice skating
- teach...I love that "a-ha" moment with kids or teens
- laugh
- creative conversation
- visit this site
- flirt with my husband
- organize something (very OCD habit of mine )
- meet new people
- try new things
- eat sushi and drink saki in large quantities
- dream big
- break my big dreams down to little dreams to see how it could be done
- push myself
- watch an episode of Law and Order after work with a glass of wine
- work on my house
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Now it's time to go to Step 2: Taking Action
(hint: we're a few days away from discussing multis or other investments)
1. Figuring out your bare essentials
This part takes some work, unless you already have a budget that you stick to and have everything entered into a program like quickbooks (most folks don't).
That's OK. You don't need to go that far-- yet. But having a bookeeper and keeping track of all personal expenses can be a critical part of exponential growth. Why? Because there are thousands of micro-expenses each month (Starbucks, bottled water, $1+ sodas) that literally can keep us in the slow lane for DECADES.
You don't realize this until you start adding it up.
Exercise:
For the weekend, get a small spiral pad, and pen.
Your first entry: How much you spent on the pad (and pen).
Next, put the pad/pen in your pocket, and go about your regular day.
Each and every time you spend ANY money-- paying bills, buying gum or a drink, lunch, any credit card purchases, etc-- record them in the pad:
.79 small pad
.29 pen
1.19 Diet Coke
5.95 Magazine
4.69 Fast food
129.30 New clothes
54.22 Gas for car
88.50 Electric/Gas bill
and so on . . .
Here's the key: Two mistakes that *everyone* makes are:
1. They forget to write down things (both large and small)
2. Once they start writing things down, their behavior changes.
Try to not let either of these things happen.
Do this for 2 days ONLY (sat and sun).
Then report back.
Please note that you won't be doing this all the time-- this is an exercise to develop financial consciousness.
If you are motivated, try to write down what you think your current expenses are (rent or mortgage, prop tax, insurance, car expenses, etc) each month. For expenses that occur only once a year (like dental appts or vehicle registration), divide by 12.
You're on your way to determining your "bare essentials"!
-Russ H.