November Income and Expenses

nice pics

def one of lp's heros. sick br management

Congrats. Wife or daughter in yellow?

On December 05 2012 11:16 traxamillion wrote: Congrats. Wife or daughter in yellow?

LOL.

On December 05 2012 11:04 mnj wrote: def one of lp's heros. sick br management

qft.


Lending club still going well?

what a lovely family !
nice month too

One small nitpick (if I may). Not to tell you your business, but I've been following your blog because your discipline in keeping tabs of things is inspiring (similar to my own, but I only track my poker winnings / losses so profoundly) and I noticed one thing: you always mention how spending is way too much, and that you're going to / want to cut down on it, but it seems it just keeps going higher?

I mean, even without the purchase of the car, it seems that your expenses were a lot higher than last month's 7.8k, to which you said, and I quote "very high number this month".

Again, please don't take this the wrong way, I don't want to bash you at all, just wanted to point it out for you. Maybe it's because of the steady upswing? I think it's human nature to be a bit more careless when things are going well

Hopefully it won't turn sour anytime soon, keep up the good work, please! I enjoy reading your blogs.

whoosel winning @ life

ownin life ^

w2g whoosel, keep at it , solid plan you have there bud, been following most your blogs~

Pics of the family look great, truly happy for you in life and poker.

Very good balance sir, congrats, def not ez to balance all that, i wish you the best of luck goin into the new year, some nice mtt scores around the corner, stay sharp

ur turn ur the man,
RYan

Your daughter is cute ! grats on the results pal

On December 05 2012 12:34 DhakhaR wrote: Show nested quote + On December 05 2012 11:04 mnj wrote: def one of lp's heros. sick br management qft. Lending club still going well?

Lending club seems like it's really low maintenance once you make your selections. It just sits there and collects payments and lets you know when you have enough available $ to purchase more notes.

On December 05 2012 16:10 Naib wrote: One small nitpick (if I may). Not to tell you your business, but I've been following your blog because your discipline in keeping tabs of things is inspiring (similar to my own, but I only track my poker winnings / losses so profoundly) and I noticed one thing: you always mention how spending is way too much, and that you're going to / want to cut down on it, but it seems it just keeps going higher? I mean, even without the purchase of the car, it seems that your expenses were a lot higher than last month's 7.8k, to which you said, and I quote "very high number this month". Again, please don't take this the wrong way, I don't want to bash you at all, just wanted to point it out for you. Maybe it's because of the steady upswing? I think it's human nature to be a bit more careless when things are going well Hopefully it won't turn sour anytime soon, keep up the good work, please! I enjoy reading your blogs.

I think the reason that it looks like I am spending too much is because I am taking so many steps at once to reduce overhead and increase efficiency all at once. For example from September and October my expenses will now always have an additional $640 expense because we have added child care three days per week to allow for a few more poker playing hours per day, as well as more family time.

Also, I haven't in previous posts taken out the money I set aside for taxes. So subtracting 5400 purchase price of car + 200 for registration + 100 for cleaning it + 1100 for repairs and the 1060 for taxes and we are down to the 7800 range which is on par with November (still too high). And that's including the purchase of some Christmas gifts and spending $500 on a pistol. In the future when I report my expenses I think I will segregate it into minimum expenses (food, utilities, insurance, mortgage, minimum debt payments) and additional expenses (shopping, child care, one time expenses i.e things that would not be required if I were financially independent). That way I also would know the amount of passive income I would need to generate in order to survive covering my minimum expenses. I'm also going to take any expense for taxes out of my income so that it doesn't artificially inflate my expenses.

I've noticed that I keep saying the number will go down, but I always seem to find a way to spend some money to try to reduce future costs. Also we spend entirely too much money buying random things we don't need...I'm not an expert money saver yet though and I'm still trying to improve on that front every day. There are a lot of people out there living happily spending less than 2k per month for their family. If I can't get into the 4k range every month then I'm likely not trying hard enough. Thanks for the comment.