buzz's journal

Where are you and where are you going?
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buzz
Posts: 115
Joined: Thu Sep 30, 2010 11:16 pm

Post by buzz »

I'm buzz. I'm 22 years old, and my goal is to retire by 32 and then get on the first colony ship to Mars (yes, seriously)
Here's what 2012 looked like for me:
Total Expenses: $17,281.69

Rent & House Stuff: $5,523.90 - About $460 a month

Car Care: $1,740.71 - $510 for car insurance, $80 for inspection/registration, $370 for 3 tires and $716 in repairs

Big Ticket: $1,243.32 - A trip to the eye doctor and two college meal plans made this pretty high.

Bills: $1,150.83

Entertainment: $1,107.65

Misc: $1,238.21 - This is money lent out that was paid back as well as some travel costs.

Gas: $871.79 - This makes total car expenses total over $2,500 or $215 a month

Gifts: $478.31

Education: $382.34

Clothes/Haircuts: $195.49

ATM/Cash: $190.00
Food & Grocery: $1,413.97

Restaurants: $881.21

Fast Food: $863.96 - This one's embarrassing.

* All together food spending adds up to over $3,000 or $250 a month!
Total Income: $19,728.85

Job: $10,636.95 - part time work

Deposit: $9,067.37 - loan repayments, college refund, misc. income

Interest: $24.53
Income - Expenses = +$2,447.16

SR: 12%

My savings rate is on par with the average American household, working about 20 hours a week at nearly minimum wage while at a state university. Are you even trying, average household??
For 2013, I'll be getting a more expensive apartment, but I will be closer to my first full time salaried job. The goal is to reduce expenses, eat healthier, make food at home and minimize car costs (my 16 yr old car requires a lot of repairs) Goals: (I don't "budget" strictly)
Rent: $6,000

Car Care: $1,000

Big Ticket: $500

Bills: $1,200

Entertainment: $700

Misc: $500

Gas: $600

Gifts: $500

Clothes: $200

Food/Grocery: $2,400 (minimize eating out)
Total: $13,600
I am currently homeless until I find a suitable apartment. I'll update when I do as this is by far my biggest expense. With housing my goal is to buy a cheap foreclosure in need of repairs, similar to @MikeBOS, and learn as I go, but I need the capital first. My car is a keeper in terms of insurance and it doesn't require a payment, but repairs suck up a lot of cash since anything beyond an oil change frightens me. I want to eat better for my health and for my budget, and I'll update on this point also, but it's hard to cook when you don't have a kitchen. Hopefully that will change soon.
The positive side: I have 25k cash, zero debt, and a brand new shiny degree.

I landed a career-track job recently that nets me 30k a year base, with potential for bonuses and commission.
I'll try to update monthly. I love feedback of all kinds, and this is what will encourage me to keep posting. Also @ThinSlicer... still waiting for your journal.


BennKar
Posts: 181
Joined: Fri Dec 10, 2010 1:42 am

Post by BennKar »

Interesting read about your hope to go to Mars. If you're serious at all about that, why are you concerned about ERE? Will it help you in some way get to Mars? I can't see the people in charge of picking people for Mars wanting someone whose main goal was to retire early (maybe I am missing something here?). That said, I would be interested to go too.


ThinSlicer
Posts: 5
Joined: Wed Nov 28, 2012 6:02 am

Post by ThinSlicer »

Oh crap, you've got your journal up before mine! I better get my act together soon, like by tomorrow. =)
You mentioned your car requires a lot to repair. Are you able to bike to work and ditch the car altogether? I know it is difficult, but if you can't, maybe deploying some cash for a $5,000 reliable Camry or Civic would be worthwhile?
Also, do you have a girlfriend or any plans for a family in the future?


buzz
Posts: 115
Joined: Thu Sep 30, 2010 11:16 pm

Post by buzz »

>Will it help you in some way get to Mars? I can't see the people in charge of picking people for Mars wanting someone whose main goal was to retire early
My goal is not so much ER as it is FI, and the ability to explore things that I want to do. It will help me because the first settlers will need pay for the opportunity, since the government is no longer involved.
>I know it is difficult, but if you can't, maybe deploying some cash for a $5,000 reliable Camry or Civic would be worthwhile?
I haven't run the numbers, I may look or scope out CL. I feel bad about any large purchase though, I need that capital to sit and grow while I add to it. Then take out 5,000 when it won't be so devastating - in maybe 8-10 years.
>Also, do you have a girlfriend or any plans for a family in the future?

No, and maybe, haven't really thought about it seriously.


buzz
Posts: 115
Joined: Thu Sep 30, 2010 11:16 pm

Post by buzz »

January 2013

This was a bad month. I was homeless, so ate out a lot, and only worked for a week.
Total Expenses: $1,028.47

Rent & House Stuff: $44.00 - homeless, no rent

Big Ticket: $234.02 - New phone and plan.

Bills: $30.00 - Last payment on the old phone.

Entertainment: $143.24

Misc: $65.00

Gas: $164.52

Gifts: $147.48

Clothes/Haircuts: $15.00

Restaurants: $113.23

Fast Food: $71.98
Total Income: $868.11

Job: $859.75

Interest: $8.36
Income - Expenses = (160.36)

SR: -18%
Good news is, I have found an apartment closer to work, and I will be working again starting Monday. But my apartment is empty, and I'm feeling so much pressure to furnish it with things I don't want or need. I got a ~$500 bed which was probably a mistake. I need to turn that SR around next month.


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