Friday, June 6th, 2008 12:00 am by
J David 
Print this page 
It is time to roll out one of the new features here at J David Macor.com; my Financial Month In Review. Think of it as sort of like John Chow’s Blog Income Report, except hopefully I will be making much more money from my real job than from my blog income! I will detail where I am getting my money from, how much of it I have accumulated and what I have done with the money. I won’t be telling you when I buy bushels of strawberry or bulk packages of contraceptives though… Just general categories. Eventually, I will also be sharing my own investment plan. That is, when I have money to invest with…
The Start of Something Financially Beautiful
That’s the plan at least. I want to share with you guys what I am doing with my money, and then get some feedback. In the end, hopefully I will be wise enough to teach you, my knowledgeable readers a thing or two about finance.
Now, I will not be advocating a get rich quick scheme, nor a get rich slowly one. I am shooting for that middle ground. Not because getting rich quickly or slowly is a bad idea, but because those strategies don’t fit my risk profile. I won’t just sit here with high yield savings accounts that barely keep me above inflation forever; I also don’t want to invest in your new pancake puff maker. I want to invest and make a comfortable amount of money.
My Starting Point
Assets
- Checking Account: $2,000
- Savings Account(s): $9,000
Liabilities
- Federal Student Loans: $29,000
11 Responses to “ Financial Month In Review: Starting Point ”
Leave a Reply
Sounds very interesting. Look forward to this rather unusual approach.
It does sound like a good plan. I’ll definitely watch how it evolves here. It sure would be a good read.
One of the things I started doing a while back was to start paying on my student loans early - to help put down the balance. I don’t have to start paying back for a while, but it feels good to see the balance go down, even if it is just $10!
I also use the same method for credit card debt, and it feels good! You can even send a dollar a day via your bank’s online bill pay if it so inclines you!
Obvious financial tips include coupons, looking for bargains and selling used items. I love paperback books, so once I finish reading them, I sell them, so I can buy more books! I’ve been doing this for about 10 years, and it is amazing how much money I make!
Side note: I was on vacation a week ago and my sister-in-law made pancake puffs. I’d never had them before and they were freakin’ sweet! Obviously, I’m not advocating buying anything from an infomercial, but those puffs were t-a-s-t-y. Also, I don’t think a pancake puff maker is a get rich quick scheme. Maybe a get-fat-quick scheme…
@Jamie: Unless you are the genius who invented them…
Keep on blogging, we need you. I’ve got so much useful stuff from your blog and really value you opinion in this stuff.
hmm interesting, good plan..
Good pic
Its a good idea to plan it out. Finances can get out of hand so easily.
plan is always important and crucial step. Update us on how it evolves
IPNS provides IT infrastructure services - it infrastructure management, infrastructure management services, Infrastructure management solutions
For more info :IPNS