Liberate Minds Journal.

[LiberateMind]

By the way ,the fourm upgrade is excellent!!!

[George the original one]

> I am not doing anything drasctically, just watching the difference between the
> reality of me and the ideal me and there is quite a lot of gap.

Self-awareness is a big step and improves planning for & achieving goals.

[WorkingWageWealth]

"Self-awareness is a big step and improves planning for & achieving goals." +1

You're young. I think you have to learn to forgive your earlier (younger) self and appreciate how those experiences, both bad and good, have contributed to who you are and who you will become. I'm not saying it's an easy task...but it's definitely worthwhile.

Also, and this is a complete aside, your English, and/or written ability in English, has improved greatly over the past year. Most impressive.

I look forward to the continued reading of your thoughtful entries.

[LiberateMind]

August Updates - Finance:

Income:
Salary:66101 (high income due to bonus)
Interest :3000
1L Seetu : 87,000
Deposits broken: 15000

Investments:
Seetu (1L) (2Nos): 18000
Citapa-Seetu (50K): Got 7000 (swapped with dad)
Loan Principal : 132701
Expenditure:
Loan Interest: 2402
Prepayment + Gold Loan Interest : 13993
Living expenses :9999

Unusual Living expenses:
Donation:500
Forex Fee: 1700
Internet/Mobile usage :2558
Savings Rate: 62.45%

Net Worth : 3,47,774
Liabilities :1,42,818

FI Progress:
Number of Months saved based on
Estimated Retirement expenses: 17.39
Bare bone expenses : 64.25
Living Expenses: 31.46

[LiberateMind]

Annual Goal progression:

Finance :
Repaying Debt : 2,85,000 Current progress: Paid 2,43,685 (85.5%)
Added new goal : Save 80,000 in tax saving investments (0%)
I think finance wise , the goal can be achieved easily partly due to hike.

Non-Finance:
Implementing 5 habits.
I have not implemented even one habit properly. So taking this forward, have to implement atleast one habit before the end of the year.
Planned habits:
1) Eating raw food only for dinner after 6 pm.
2) Writing Journal daily.

Moments of August:
- One of my cousins, used my CC to pay the exam fees in USD , I got the message for amount in my currency and communicated with him. He transferred the money to me the next day. When the bill came it contains additional fee : 1700 for the exchange rate. I felt like , with that amount I can do this and that to enjoy myself. I don't want to ask him the fees , because he will not ask me if he is in similar situation. So paying it.I really don't want to consider whether its a wise or stupid decision. Its just something i have to do. Planning to keep hold of the transfer, till the actual bill arrives in future.
- My sister is starting a business, so lended her 25k and might need to support her for the next few months. I have big confidence the buisness will be success, have to wait and see.
- Till now my concentration is entirely on paying off debts. Now a days I am thinking about asset allocation and what kind of things I might require after retirement. During retirement , I need some land, irrespective of the roi ,it just some place for me to live and to garden. Yet to finalize on the list.
- I think finance wise , i am doing ok if not superb. There is so much fat in my expenditures , which I can cut out easily without feeling deprived. Just feeling that I should improve on other areas on my life , before coming back here.
-Most of time during my day is spent before computer, so my next priority is start doing activities not related to computer or reading.
- My social skills are pathetic. Have to improve on that. My areas of improvement are glaring before my face. I just feel restless at times.
- I logged time for 27 days in august. I am yet to analyse that and post another entry here. I am in vacation right now, just relaxing and eating.

Explained seetu here , don't know whether a concept similar to this exists in other countries, thought this might give some ideas to people here.

Concept of Seetu (Chit fund):
In my dad's town , say 10 people will join together and start a seetu. The people involved usually know about other people and their business.The schedule and the amount to be paid per seetu is decided and the seetu starts. This is similar to peer to peer lending.
No. of people :10
No. of months:10
Amount per seetu : 10,000
Total Seetu Amount : No. of people * Amount per seetu = 100K
During the seetu time, all the people will gather at one place and one person will voice his amount say (5k) --( meaning he will take 100K-5K for that month) , other persons can over bid him by raising the amount whoever bids the higher amount will be given that month collection. During the next schedule the amount asked will typically go down.So, the person who withdraws at the last will have the most benefit. The amount the last person withdraws is typically more than what he pays , the ROI varies from (12-24%). The seetu involved with risker personalities can generate above 30% ROI.

@ George the original one & WorkingWageWealth : Thanks for being with me in this journey.

[LiberateMind]

September Updates:

Finance:
Income:
Salary:49110
Interest :3000
Withdraw (1L) : 90000

Investments:
Seetu (1L) (2Nos): 18600 ( Both are withdrawn – 4 months remaining)
Citapa-Seetu (1L) : 7000 (Accumalating)
Repaying Loan: 63,464. ( Completed paying Personal loan after 3 years.. )

Lending family:
Dad : 29000
Sis:30000

Expenditure:
Living expenses :7902

Split up:
Regular Expenses:
Rent : 2525
Home Exp (Groceries, Utilities, Cable): 1137
Travel - Office: 275
Eating out - Office: 333 ( 5 Lunches)
Coffee/Milk/Tea : 285
Snacks: 327
Fruits: 545
Internet/Mobile Recharge: 774

Non-Regular:
Rest. Eating out : 500 ( 1 time for 2 people)
Travel-Home town: 437
Gifts to family: 700

Savings Rate: 84.84% ( Highest savings rate of the year.. )
Avg. Savings rate of the year: 61.6%

Net Worth (Calculated everything I have ): 4,21,449
Liabilities :75,250

FI Progress:
Number of Months saved based on
Estimated Retirement expenses: 21.07
Bare bone expenses : 80.28

Savings Rate: Highest savings rate is mainly due to paying off the personal loan, the biggest factor of expenditure ie., personal loan interest is not now. I think it would be easy henceforth to maintain around 80% without any impulsive irregular expenses.

Non-Regular expenses:
In case of eating out, I enjoyed the food but could have reduced till 300 without reduction in enjoyment.
Gifts to the family: 500 to my granny. She is old now, one of the best person in my life.Grew up in their home till 3 yrs and used to spend almost every weekend of my childhood in their home.That part, complete fulfillment. Highly likely to be repeated often.200 to Relative, no fulfillment at all, unavoidable circumstances have to give.

Without feeling much, I could have reduced around 200-400 in Internet and Snacks. Still, I am very happy with the current month savings, mainly due to paying off the personal loan.

Lending family:My dad and sis is facing some huge expenditures and investments right now, so helping them out. Dad will return the money in December or January for my tax investments. Sister might take time, but she will also return within a year. I may have to give her money for next two months, after that she will be very established in her business and will start paying me off.

[LiberateMind]

Annual Goal progression:
Finance :
Repaying Debt : 2,85,000 Current progress: Paid 1,78,149 (62.4%) (Took new liabilities like seetu and gold loan , so progress seems to be reduced here). Last month didn’t include the new liabilities so high percentage.
Added new goal : Save 80,000 in tax saving investments Current progress: 59000 (Dad+Sis money) (73.75%)
Gap to goal : Around 129 K. Bit difficult to reach accumulate that much, still strive.. 

Non-Finance:
Implementing 5 habits.
1) Eating raw food only for dinner after 6 pm.
2) Writing Journal daily.

This month I have not tried to implement any habits. Taking continuous time log in august left me very conscious of the time passing by and didn’t even feel like journaling for the month. Few changes are coming into my life without any planning at all. I reduced the consumption of tea/coffee by 15% at least without any plans or goals. Tea powder is over, didn’t buy it to see how far I can go without tea. After around 7 days, still didn’t buy, replaced with home-made health drink. Let’s see how far this goes.

Moments of Sep:
I am identifying myself more with my job title than anything else. This is lead to very unhappy moments in my life. So much is not in my control in work life. I got very irritated in my work and literally snapping at everyone and not caring about the result. For me, work is very important part, not only because of identification, there I get the flow during good work and at the end of the day I feel happy. Not all work related activities results in flow, but atleast 50% are. Now a days are like I want people to recognize my value and when they don’t, I just didn’t do the work, passing the time and the cycle continues. I have to make a conscious decision regarding this one.
I had one week vacation this month and stayed at my home town. To my horror, I don’t know how to pass time happily in meaningful activities and relax completely. All I did was waste time, eat and sleep. I ended up checking my work mails. So much for a planned vacation. I am pretty much a loner but this vacation proved a need for life outside work and books. I have completely no idea how I going to form friends outside work . Still this is a need and I acknowledge it.

October goals:
Finance: Have savings rate above 80%.
Non-finance: Journal all the 31 days. No exceptions No exceptions No exceptions.

I will post my august logs tomorrow. Don't want to miss my monthly goal on the first day itself lol..

[WorkingWageWealth]

1. I think you are being to hard on yourself.
2. I think you have to forgive yourself for feeling the way that you feel sometimes.
3. "For me, work is very important part, not only because of identification, there I get the flow during good work and at the end of the day I feel happy." I understand this sentiment. On days where I don't feel like I put in 100%, at the end of the day I feel kind of lethargic and unsatisfied.
4. "Not all work related activities results in flow, but atleast 50% are. Now a days are like I want people to recognize my value and when they don’t, I just didn’t do the work, passing the time and the cycle continues. It seems like this is on you a bit...that you need to recognize your value and appreciate your value and contributions for other people to do the same.
5. I had one week vacation this month and stayed at my home town. To my horror, I don’t know how to pass time happily in meaningful activities and relax completely. All I did was waste time, eat and sleep. I ended up checking my work mails. What should you have been doing?

Something that you pointed out in my journal was that I needed to factor is some time to breathe...I think this was good advice...

[LiberateMind]

@ WWW, I have lots of room in my day to do the things I want. I think am just lazing out instead of taking the problems heads on.

I got a job offer from another company with 50% hike.. Happy.This might require some expenditure on job. Thats okay by me given the hike. It shouldn't go beyond 5% of my salary. My friends who has gone abroad is returning back and settling in India.Just one month before thinking , I have no friends here. Its like everything is falling in proper place.

My last day in the current company will be in december. In the current company, I am in a very comfortable zone, but the growth is literally very slow and the exposure is very steeply in only one technology. This got me worried for some time. Recently, I was feeling very frustrated with the company, as my work is not valued properly.Valued is in comparative sense with the peers. I decided and put my papers, come what may. I have good friends here and a steady routine. Need to shake it up a bit.

Sometimes I find my self facing small discomfort in going to a new company. After 6 months in the new company everything should be fine. In the future company, I have a good chance of moving levels easily. Counting days now. Wish me luck.

Two areas which I am lagging severely is physical and personal development. I am either pushing myself too much or just lagging drastically. "No shame , No blame". Thats a approach I should take I think. Its like, I am doing journal for instance but if i fall short one day in the ten days , I feel habit is not done and let me start again . Then it takes ten more days to start journaling again. So, somewhere I have to make a change in my mindset to keep myself calm and progress in those areas.

[George the original one]

You are becoming like Bigato, finding a path that is beneficial and lets you get on to the personal goals.

[LiberateMind]

@George, Bigato,

My head in the clouds now... The truth is I am scared of the changing the job.Doing it, because I am scared.

[LiberateMind]

Posting after a long time.. My mindset with respect to retirement and self-discipline is evolving still.. In the past, most of the times when I tried to control my expenditures, I felt like depriving myself of many things such as books, travel ,learning or trying new things.. so left the finance aspect of my life completely out ,started spending like anything and everything and started on other things like travel and stuff.. Right now back to track FI..I think I should model my FI mentality differently so that I can enjoy my life while working towards FI. Haven't managed the finance properly after my last entry here..

Changes in my life right now:
- Living as an expat in other country.It will end by first week of december.
- Bought a piece of land in my native.. Have loans to be paid yet, nothing with interest.
- Started few new habits.. Work in progress actually..

Have to reread YOYL to get my priorities straight.

[rube]

Welcome back! The updates were missed.
I am curious about your expat adventure.

[George the original one]

Of course we want to read more of your experiences!

Though the ex-pat ends in December, will you still be employed by the same company?

[LiberateMind]

@George: Yes, I will be employed by the same company at a lower pay in India.

I refused the offer from another company and staying in the same company.Well practicing my negotiation skills.Got around 17% hike in the annual salary in India and the promotion too.Yet to see how the hike reflects in the annual salary after the tax and other cuttings. I am not too keen to stay in the same company.My current project is very interesting and learning quiet a lot , so will stay here as long as it benefits me.

During the break, started on hiking so invested quiet some money on the correct clothes and shoes. I might spend more in this area. I like being outdoors and started travelling short distances and during weekends for the hiking.I have also started spending on eating outside, which is becoming a habit now.I will take some time to short this out.

Got a piece of agricultural land @ 12,00,000 INR and still have to pay around 3,50,000 which my family has put the money in, I will be paying back to them on monthly basis. This has eaten up almost all my savings, so my networth is literally a piece of land and around 2,50,000 in cash and government bonds.I always considered I won't be able to retire without owning atleast some land. So I consider my first part of FI is achieved.

Habits: I have been eating fruits for dinner more frequently now.. Started journal and recording how I am spending time now a days. None of the habits is like doing strictly day by day. But I can say I have more self discipline now than where i started.

[LiberateMind]

2014 updates
Finance :
Got a piece of land.
Net worth doubled owing to high pay – 719311

Non-Finance:
Did quiet good amount of hiking and yoga.
Moved to a more healthy eating habits.
Changed the direction in my books reading on science esp. by Richard Feynman
Got to understand myself better during the past year, yet the journey is still in progress.

Moments :
- I have always thought will quit IT for some other career area and continue working for some time before retirement. Now, decided to work and get rid of all the job related stuff once and for ever. Decided to take a bit of risk in my job after saving the target amount.
- Started doing things this year which seemed very difficult in my mind a year ago like travelling alone in a foreign country, hiking with meetup groups, took 3 classes on horse riding. Wow what a year it was!
- Career wise got higher responsibilities, yet I am not fully prepared. Still, learning the ropes of current role.
- Consciously decided to spend more money on few areas. It was a bit of internal struggle, as I was counting every penny on 2013. Tried to keep spending in line, so that it increases my joy in life , instead of feeling like stagnant and piling net worth. Few things are free I know, yet there are few I feel that the thing I spent money on is well spent. For instance, hiking, buying books. We don’t have good library system here. Yet to find balance here.
- My sister’s business is growing well!! Heyyy…
- Improved my social skills drastically . But speaking to so many people, leading to drain of energy, honestly I can’t keep up. Hanging around with a bunch of people for the sake of socialization is not for me. I decided to keep only meaningful connections in my life.

[LiberateMind]

2015 Annual Goals
Finance
- Invest 50k in Stocks.
- Savings rate – 80 %
Learning
- Learn driving and get international license
- Learn Swimming
- Learn Sewing.
- Vipassana meditation (3 days)
- Read two basic science books.
- Stock markets read and understand.
- Research for contract jobs outside India, apply for two jobs before this year ends.
Habits
- Think consciously. Be aware of your thoughts.
Improvement on habits:
- Wake up @ 6:30.
- Eat fruits for dinner (3 days/week)
- Plan for the week beforehand.
- Yoga (3days/week).


February Goals
Learning
- Learn two wheeler driving.
- Vipassana meditation (3 days) (Decide the dates and plan)
- Open stock market account.
- Update Resume everywhere.
Habits
- Think consciously. Be aware of your thoughts.
- Be more organized.
Improvement on existing habits:
- Wake up @ 6:30.
- Eat fruits for dinner (3 days/week)
- Plan for the week beforehand.
- Yoga (3days/week).

[George the original one]

I see the blossom is blooming! Now horse riding was not something I expected... did you like it?

[LiberateMind]

@ George: . Initially I was bit scared, as this was my first time on horse. My instructor was kind and guided me very well. Enjoyed every minute of it.

[LiberateMind]

Goals update
February Goals
Learning
- Learn two wheeler driving. - In Progress
- Vipassana meditation (3 days) (Decide the dates and plan) - Done
- Open stock market account. - Done
- Update Resume everywhere. - Done
Habits
- Think consciously. Be aware of your thoughts. (Cant measure)
- Be more organized. In Progress
Improvement on existing habits:
- Wake up @ 6:30. - Failed
- Eat fruits for dinner (3 days/week) - 2 weeks done
- Plan for the week beforehand.-Failed
- Yoga (3days/week).- 2 weeks done

Finance Update:
NW: 9,78,015
Debt+CC : 196574
SWR: 21.00%

Savings rate:
Jan: -20.59%
Feb: 82.34%
Year: 65.96%

Net worth might be increase high because of the reimbursements from work for the period outside home country. Decided not to include those as in calculations as it might skew up the savings rate very high. Aside that ,I have few commitments based on that amount.

Got sick on the first two weeks of Feb, so most of goals started on the last two weeks.I think trying too many things at once is not my forte.So from now on wards only one non-financial habit per month and every other habit would be on auto pilot on that month , i.e., will try to do that but not on strictly day to day basis, measurement will be there.

On the finance end, prices of essentials are increased during the past year so the cost of living is also increased around 5K. I don't know whether I will be able to achieve 80% , but still worth a try rather than setting a non-challenging goal and achieve it.