3 posts tagged “money”
"Be fearful when others are greedy and greedy when others are fearful." - Warren Buffet
I came across this quote at the end of a Fortune Magazine article, and I thought it was rather poignant - and spot on. When it comes to the stock market, this is very good advice.
After Mom's passing, I started thinking heavily about getting all of my finances in order so that I don't leave Chris or Baby C with too many loose ends (read: bills).
Suze Orman recommends the CNN Debt Reduction calculator, and I have to confess it's my new favorite thing. You plug in what you owe, the interest tied to what you owe, and the minimum payments. It lets you choose a payoff date (say, 9 months) and tells you how much you will need to pay (and breaks it out for you) to be completely debt-free by that date. Or, you can plug in how much money you can afford to pay each month (more than the minimums, of course), and it will tell you how long it will take to be completely debt-free based on that amount. Or, if you need sobering, it will tell you how long it will take to pay off your debts with just the minimum payments. (Mine came out to 26 years and some months. Ouch.)
It's kind of depressing the first time you do it because you have to look at the numbers (and admit to them), but when you see that it's actually possible to pay off your debts in this lifetime (or even your pet goldfish's lifetime), it's kind of encouraging.
And when you check your credit card statements each month and see the balance and the interest rate dropping (which, of course, warrants a recalculation), it kind of gives you hope!
What is your current obsession(s)?
Submitted by eijsr.
There are a few things that occupy my thoughts right now... which explains why I'm posting so much from work (I can't concentrate!).
1. Baby things - All things baby have completely taken over my brain. Chris and I went to a Baby Care class last night (it was free with the childbirth classes we start on Tuesday), and everything is baby-centric right now. I'm trying to think about what Baby C's going-home outfit will be (which, I imagine, will largely depend on how big of a baby he is), and trying to list out the preparatory things that still need to be done that I can do (right now, that's a pretty short list). I make everyone at work nervous because of my size (though I remind people he's still got plenty of room to grow in there), and it's increasingly difficult to push my thoughts to the back of my mind when I get frequent reminders that he is coming (right now he's kicking pretty forcefully). And considering we still don't have a name for the little one kicking me in the ribs every morning, it's enough to keep me fairly preoccupied.
2. Paper and paper crafting - I have a lot of paper already, but this is an obsession that I don't think will quit anytime soon. Well, not without a good 12-step program, anyway. But since I'm working on those baby shower invitations and other related stationery, it's front of mind. Add to this the fact that I still haven't decided exactly what the baby announcements will look like, and you get a vague idea of how much I'm thinking about this. I have a favorite (and appropriate) quote that I want to somehow incorporate into it, but I'm not sure how to make it work just yet. Another thing for my brain to work on.
3. Food - It's not just when my next meal will be or what I will eat, but also how much nutrition I'm getting from said food and what percentage of it I think Baby C will ultimately leave with me. I'm eating when I'm hungry (which is to say most of the day), but I'm eating fairly carefully (french fries and potato chips are my downfall, though). All the same, I absolutely love food, though I have to admit we currently have a love/hate relationship. Hopefully that will abate a bit once the baby comes.
4. Sleep and/or rest - It's like the end of my first trimester all over again with the all the fatigue! I sleep fitfully for a few hours (even enough to dream!), then awaken for a little while, then go back to sleep, only to wake up in the mornings feeling great when I get out of bed but exhausted by the time I get into my car to go to work. Today, I even felt good enough to spend a few minutes curling my hair, if that gives you any indication of how good I feel once I wake up. Of course, after running around the house a bit, I find I tire very easily, but I offer the fact that I'm carrying an additional 25% of my original weight as a valid excuse.
5. Investing and other financial matters - My department learned today that we're almost getting our full bonuses, which is excellent news (despite the fact that I still don't know what that means in dollars - I'll find out in a week). But there is a lot to do with that bonus, including some things for the house, putting it towards a new(er) car, paying for day care, investing it into either my IRA or a 529 for Baby C... Sadly, I know, even without knowing the dollar amount, that I'll only be able to do one of those things, so it's going to be a matter of prioritizing. At least I know Baby C won't be going to Harvard or MIT next year, so there's still a little more time to plan on financing his education.
So, these are the top five things I think about on a daily basis, several times a day, in fact. In another 6 months, the list may change completely, or it could be exactly the same. That's the beauty of it all.
