November 2013 Archives

Last day off

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Even though my initial idea was to chill out today, I kept kinda busy instead. First I mailed of a postcard to congratulate someone on her upcoming birthday, then I stopped over at the bank to get an issue resolved (caused by my own stupidity that is), then I did some shopping.

After completing the shopping run it was off to my garage to pick up an old TV set (which still should be in working order, though I ain't sure) and (almost) finally, off to my girlfriends place to do some stuff there as well. After all that was done, I dropped off the old TV at the thrift store so they can check it out and repair if needed and as such help someone who may actually use it. That always beats throwing old but still working things out adding to the ever increasing pile of waste, doesn't it?

Home now, listening to the Nostalgie New Wave top 100. Hey it's not electro or EBM, but New Wave is quite enjoyable too :) Many of the songs in the top I wouldn't strictly call New Wave though, but labeling stuff is so overrated anyway so who cares? I'm enjoying it...

debt vs income - a balance

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I've recently discovered a new and interesting (financial) blog, which is Get Rich Slowly. One of the articles there described how a couple decided they wanted to invest a bit of "spare" cash and as such contacted a financial planner to see how to do so best. However, while going through their finances, it quickly became clear that even though they had "spare" cash, there were also quite some debts that kept on running, generating new costs every month.

Instead of investing the spare cash, they added up all their debts and set up a plan to pay all of those off as soon as possible. It turned out to be feasible after all (over a couple of years though), once they got a good view on things. Feeling a tad inspired by this, I decided to see how far into debt I actually am and truth be said, I was surprised as well (adding everything up, it amounts to quite a large pile).

I won't be putting down figures here, nor will I be giving specifics, but I must say that I've said to myself - partly as a joke - that I have the intention to not go to work anymore when I turn 45, which is a few more years to go. Looking at my current income vs debt ratio, I do realize I'm quite far off that goal : If I was to attribute all of my yearly income into paying off all my debt, it would take just over 4 years.

However, that is not possible, because it would either mean I wouldn't need to spend a penny the next four years, or I would have to double my yearly income to be able to keep up my current standard of living. I'll have to see what can be done to find a workable compromise between cutting expenses and raising income.

It also makes me wonder... have you ever made a balance of your finances? Were you surprised by the outcome, or did you know pretty well how it would pan out? If you haven't yet, will you be doing it now?

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This page is an archive of entries from November 2013 listed from newest to oldest.

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