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
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
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I love seeing reports on how people are making improvements in their lives. It can be a great motivator for the rest of us. Good luck!
A lot of blogs out there contribute to our blogging experience but your blog has brought a personal dev in my financial live. It touches most aspects that can only be understood by someone with similar exp. Thanks
test (sorry)
I could never get 9000 in my savings account. I can’t help but to spend every cent i get
I think I have the ultimate solution for you and stop you from tossing and turning at night.
It is really great.
Sure finances must be planned.It is hard to do,but quite necessary.In the planned sphere of life one can easilier move to the set goal.
i like to read and explore this kind of site.
interesting site it really learns me a lot.
It does sound like a good plan. I’ll definitely watch how it evolves here. It sure would be a good read.
A lot of blogs out there contribute to our blogging experience but your blog has brought a personal dev in my financial live. It touches most aspects that can only be understood by someone with similar exp. Thanks
I could never get 9000 in my savings account. I can’t help but to spend every cent i get
I think I have the ultimate solution for you and stop you from tossing and turning at night.
I love seeing reports on how people are making improvements in their lives. It can be a great motivator for the rest of us. Good luck!
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…
It does sound like a good plan.
i really like this site thanks for sharing some ideas.
Well, now we are at the end of February 2009. The stock markets are low as never before, so let start buying stocks. Why not? Can go anything wrong? I will forecast just for you, next financial crisis.. In approximately 12 years from now..
I Never make money from blogging I wanna learn here
hmm interesting, good plan..
I never thought of it that way…. cool.
I have just discovered this blog and I find it really interesting here is everything you said, sorry that is not very updated.
I have learn much about financial from your post.. thanks a lot for this one
Regards
how can you get a lot of money there
could you keep us posted please. You haven’t updated us since 2008. I am really curious to see how your plan has worled out
I tried to play the market Forex, got very successful … and I advise you to try
It will be interesting to see how you progress and how you monetise your blog. Mine earns me enough to live on now, so it can be done.
How did you get on? I found that making any real money with blogs and google adsense to be hard work (if not impossible!). I know some people have done it, but be prepared to work hard for years and years.
Very cool David, it’s been a while though since you posted… so I am hoping you succeeded in your plans =D
Till then,
Jean
I’m facing with financial problems where I need to pay up my bills and in the end I only left only a few dollars to spend as my pocket money. I have stop spending money on the unspended things.
Hey David, I think posting a blog income report is a fantastic idea. Looking forward.
David, this sounds like a perfect idea with blog income report.
Very interesting. I think a blog income report would be a great idea David, looking forward to it.
You can’t succeed if you don’t plan it out, thanks for the info David.
Also making a review of all your plans will help in the long run as well, it couldn’t hurt.
How to manage my financial and control my expenses every month?plz suggest me.
I do the same thing on a monthly basis, fun to do plus interests many of my readers
Great report, look forward to hearing more about this David.
As someone has said, it is indeed an original approach, the one you have… however, it is important to notice that it is always useful to make a point, that serve as your starting point, and be focused (and clear) on your objective(s).
Best of luck!