What I Spend

Where are you and where are you going?
Western Red Cedar
Posts: 1205
Joined: Tue Sep 01, 2020 2:15 pm

Re: What I Spend

Post by Western Red Cedar »

Well done with the bike project! Cycling is an amazing hobby that allows you to process the world differently. I regularly find myself exploring new spots in a city and region which I've lived in for decades. I suspect you'll appreciate rehabilitating the bike even more after you've been riding awhile.
Scott 2 wrote:
Sun Jun 19, 2022 8:38 pm
This is a lot of work. Hopefully the mechanical skills transfer elsewhere.
It may only heighten your understanding of bicycles, which is enough IMO. Though, I've found getting hands on with things like bikes and small motors is a really good contrast for the abstract/intellectual salaryman work with which I typically engage.

Looking forward to hearing about some of your initial rides.

Scott 2
Posts: 2824
Joined: Sun Feb 12, 2012 10:34 pm

Re: What I Spend

Post by Scott 2 »

Thanks. Between the heat and making a 5k my priority, the bike unfortunately hasn't seen much use. I did get a decent bike bag for my flat kit and buy some touch up paint. I think use will be heavier in the fall and spring.


June 2022 Total (Couple) - $3709 - 781 (used sales) = 2928
Healthcare/Medical - $993
Groceries - $611
Home Maintenance - $505
Automotive - $418
Exercise - $340
Utilities - $251
Entertainment - $212
Clothing/Shoes - $181
Phone/Email - $125
Pets/Pet Care - $47
Streaming - $20
Restaurants - $6
Used Sales - ($781)

Spent $2928 against an estimate of $5676. Our budget carries more complexity than easily captured in a single monthly estimate.

Unusual inflows - I negotiated a two month credit from the gym, due to quality issues. I sold some items on OfferUp for $780. The latter offset all my discretionary spending for the month. My wife is also way behind on hers, due to buying almost nothing.

Medical outflows - Medical expenses remain unpredictable. We've done great at aligning consumption with insurance coverage, to the point where I'm rolling planned spend off into a medical reserves bucket. A doctor visit and two blood draws cost $24. Predetermination for removing my wisdom teeth is half of budget. On the other hand, it was recommended my wife have braces. If we follow through - $7k.

I made a point to use my discretionary money - a bike, laptop, two pairs of shoes, lifting toys, tools, etc. OfferUp made the money go much further.

At the same time - food and gas costs are up, sometimes shockingly so. One of the worst - there's a cake we like at Whole Foods. I am pretty sure it was $10 last year. This year - $15. Yeah, we have the 5 bucks, but a 50% increase! Combined with down markets, the trend feels upsetting. Has our purchasing power dropped by a third?


June 2022 Estimate - $5939 (Couple)
This estimate suffers from the same problems as last month's. We've got $3k kicking around in discretionary buckets. Medical estimates are barely better than a guess.

We did increase the grocery budget, from $600 to $700. Hitting $600 last month required careful shopping and cooking. Not fun. The gas estimate is up to $60 a tank now, from $40 at the start of the year. A tank was $63 yesterday, so we might run over.

I doubt we'll hit estimate, but haven't felt inclined to update the accounting model. We're doing ok.


Overall
Despite the economic downturn, we have enough money and are living every day fully. Every week carries moments, that when I was working, would have been yearly highlights. The past year feels like aging backwards. I am thriving.

Yet, my financial angst is hard to ignore. I try to direct that energy into frugal behaviors. Buying and selling used. Shopping carefully. Cooking. Exercise as entertainment. Etc.

In my less constructive moments, I scroll LinkedIn and think about the trade off of work. Living life cash rich, instead of time rich. One of my biggest deterrents has been candid pictures from corporate team building events. People don't look well.

Scott 2
Posts: 2824
Joined: Sun Feb 12, 2012 10:34 pm

Re: What I Spend

Post by Scott 2 »

June Changes - Results

1. Get on a Bike - Done. I have a working bike and rode 4 bikes. I am investing roughly 5 hours per week on bike learning and activity. I expect to ride more in the fall. Partially to accommodate the added overhead, I sold my high end exercise sled. One less machine to maintain and more space for the bike. I've had lots of family bonding time, which was my primary motivation.

2. Row on the water - Done, but my time on the rowing machine didn't transfer. I rented a kayak and a paddle board. While I preferred the former, neither will be new hobbies. I don't like the direct sun, or going outside while it is hot. I found balancing those constraints with rental schedules difficult. I could have fun using my own equipment, in the early mornings. But I don't want the overhead. I do intend to take the aforementioned river float in July.

3. Orthodontics next step - Done. Got wisdom teeth predetermination approved by insurance. Got the last x-ray needed to attempt surgery predetermination with medical insurance. More planning in July.


4. Execute medical testing - Done. Testosterone was borderline low. Another doctor and more testing planned for July. There is a bound between healthcare and health optimization, which I am starting to encounter. As an example - my doctor did not have a test for Omega 3 levels available. I have low expectations for the testosterone follow up, but will make my best effort to work within the system.

Should that fail, I am considering more comprehensive cash pay testing. I am concurrently optimizing lifestyle factors - no drinking, better sleep, no junk food, more exercise. A goal for this year is to become fully engaged with the modern medical system, using my insurance to the fullest. Ideally, I'd be medically stable and comfortable with lesser insurance next year. So running into these health optimization bounds is expected.


5. Contribute to open source software - Fail. I explored the idea. Frankly, I lack the required combination of skill and motivation. I got a Chromebook. I learned to use Github Codespaces. I brushed up my command line git skills. I trawled Github for projects and issues I might want to contribute to. Either they were make work, or for the products I might care about, beyond my level. Given time constraints, I tabled the idea.

6. No Dryer (continued) - Done. The drying rack helps. I think this is fully integrated.


July Changes

1. Register and Train for a 5k - My top focus is a 5k. I found my attention scattering and so decided on a short term, target date goal. This complements my priorities for 2022 - increasing v02 max and investing in health. Accordingly, I will allocate an unreasonable amount of time. I cannot tolerate more training, so I am focused on recovery.

2. Bikes - Bikes get an hour per day. Picking out parts, touching up the paint, riding it, whatever. This more of a "don't waste life on the internet" focus than anything.

3. Do new things outside - At a minimum, I'll try the trail for my target 5k and do a river float. It could extend into another kayak rental, or some other idea.

4. Orthodontics next step - Ideally, I'll get an answer for predetermination from my health insurer, then schedule wisdom teeth removal. Until I have a broad plan, I don't want to start any work. I am constrained by the pace of both the doctor's office and the insurance company. So this one starts at risk.

5. Medical testing continued - Talk to the next doctor about my testosterone. Possibly more lab work. If she brushes me off, I may consider cash pay medical testing.


July is more tightly focused by design. I found myself too broadly spread in June.
Last edited by Scott 2 on Sat Jul 02, 2022 12:00 pm, edited 1 time in total.

zbigi
Posts: 978
Joined: Fri Oct 30, 2020 2:04 pm

Re: What I Spend

Post by zbigi »

Scott 2 wrote:
Sat Jul 02, 2022 11:20 am
5. Contribute to open source software - Fail. I explored the idea. Frankly, I lack the required combination of skill and motivation. I got a Chromebook. I learned to use Github Codespaces. I brushed up my command line git skills. I trawled Github for projects and issues I might want to contribute to. Either they were make work, or for the products I might care about, beyond my level. Given time constraints, I tabled the idea.
Same here. The cool projects (Linux kernel, Blender, Unreal Engine etc.) are really complex and working on them would probably be more taxing that working a regular full-time software job. In jobs, the company's paying you, so they care about your productivity and thus assign you onboarding buddy, walk through project's architecture, give you tasks adequate to your current level of understanding of the project etc. While in open source, nobody cares about your productivity, nobody's there to help for the most part, you have to figure out stuff on your own.

Scott 2
Posts: 2824
Joined: Sun Feb 12, 2012 10:34 pm

Re: What I Spend

Post by Scott 2 »

Once other parts of life stabilize, I may revisit the open source idea. The principles do speak to my ideals. I need to do more learning first. If the market goes too far south, my interest in work might increase.


For now though, it's bike time. I've:

1. Ridden it see my parents, round trip about 13 miles.
2. Ridden through a 10 mile limestone trail.
3. Added a bike bag
4. Visited a bike shop for the first time in decades, so my wife could try a bike.
5. Then helped my wife buy the same bike used for 1/3 the price. It's much nicer than my own.
6. Bought and returned a water bottle, only to learn it didn't fit because my water bottle cage was bent.


With that experience, I have concrete problems, which I tried to buy my way through this weekend:

1. The bike is noisy. Brushes, lube and de-greaser are on their way.

2. Bugs go in my eyes. I hope to pick one of two pairs of glasses I ordered - either interchangeable lenses or transition lenses.

3. My chain slips on the lowest gears. The new chain is 116 links, which matches the old one. The manual recommends 114 links. A chain length formula recommends 112 links. So I got a master link tool and am going to use my dad's chain breaker to try 114 links first. Dunno if that's the fix, but seems like a good start. Being able to easily remove the chain seems useful for cleaning as well.

4. The extra pedals my dad gave me are irritating my bunion toe, through my barefoot shoes. So I've got a couple pedal styles on order, to pick one with a better platform that compensates for my goofy feet. My new balance running shoes are even worse. Also had to buy grease. Fortunately already have an extra pedal wrench from Dad.

5. I have a squeaky headset. I'm hesitant to dig into that part of the bike. But once I have various lubricants and cleaning tools around, maybe I will.


There are other problems I could easily anticipate, that I haven't tried to solve yet. Hand pump or c02. Multi-tool with chain breaker. Extra master links. Lock. Lights. Replacement cassette. Repacking bearings. On and on.

macg
Posts: 174
Joined: Tue Mar 31, 2020 1:48 pm
Location: USA-FL

Re: What I Spend

Post by macg »

Yeah, it's easy to go down rabbit holes with bicycles. Not saying that anything you're talking about is good or bad, that's a personal decision. I'll just advise you that the key is to enjoy riding 😁 ...

I was lucky with my bike purchase. Well, I say lucky, but I did prep for the purchase. I had been deep in the weeds of reading various blogs and books about riding, for transportation, not speed - so Copenhagen cargo bikes, commuting in NYC or other cities, bike touring, those types of things. So when I bought my bike, I bought a trek hybrid, fenders, rack, panniers, all the gadgets. Basically not ERE thinking lol. But, that was over 10 years ago, and besides the standard things you would expect over that span of time, I haven't had any major issues, and I'm still chugging along with it. And for the past 3 years I've been car-free. So ultimately it was a good ERE purchase lol.

Scott 2
Posts: 2824
Joined: Sun Feb 12, 2012 10:34 pm

Re: What I Spend

Post by Scott 2 »

Even all in, biking is a relatively inexpensive hobby. Hard to go wrong with a bike you use.

Starting from an old and broken Trek 7200 has gone better than expected. As I develop skills and practice, I am finding preferences. There's no way I could have picked the perfect new bike. If this sticks, there's a good chance I carefully select a higher end bike. If so, I'll already have the infrastructure and patterns needed to keep it nice.


Selling on Offer Up has become more distraction than value. In talking to one of my buyers, I learned he does anti-bullying volunteer work, training kids in martial arts. He's traveled the world coaching muay thai, producing multiple world champions. Seemed like a good dude. So I gave him about half my inventory, mostly sub $50 lifting toys. I think he'll use it to help those kids. I am much happier with that outcome, than dickering with other tightwads over $5-10 at a time. The hassle isn't worth the couple hundred bucks I might have cleared.

From what I understand, stuff dropped at Goodwill often ends up in the trash, especially niche products. The items I bothered to list, I am going to keep posted. But I am de-prioritizing sales and will accept just about any offer.

The requirement to modify ads via the phone app is annoyingly intrusive. I know they are using the app to track (and probably manipulate) my behavior. I can't resist the temptation to see what's available. Getting a deal feels productive. The other day, I picked up a $300 barbell for $50. Beyond the time browsing, picking it up burned an hour. I already had a $300 barbell. Now I have 2...

That is overhead I do not need in my life. The app has been uninstalled. I'll bring it back when there is value to harvest.

classical_Liberal
Posts: 2283
Joined: Sun Mar 20, 2016 6:05 am

Re: What I Spend

Post by classical_Liberal »

Nice to see you are doing well!

I wonder why biking seems to be a hobby of choice for newly FI ERE'ers? Maybe it's the lack of time constraint getting from A to B?

Scott 2
Posts: 2824
Joined: Sun Feb 12, 2012 10:34 pm

Re: What I Spend

Post by Scott 2 »

Thanks! This is a clear rite of passage. I had zero intent on biking during FIRE, yet here I am.


More bike progress:

1. The flat pedals arrived and are installed. I had to get my Dad's help. I couldn't for the life of me get the old pedals unstuck. When he tried they popped right off. He must have a better wrench :)

2. We took two links off the chain, bringing it to stock length. Previously I had issues with the chain slipping in low gears, which I cannot now reproduce. The master link pliers work great. I have couple spare links on the way, since I guess they are not infinitely reusable.

3. Possibly related - once de-greaser and brushes arrived, I gave the bike a much deeper clean. The cassette is now shiny. Maybe this helped with the slipping. I'm going to try a cassette brush next time, since getting in the nooks was still tough.

4. I settled on the transition lens biking glasses, which seem to fit well. Interchangeable lenses looked like a pain. These won't be great during peak sunlight, but I don't like being outside then.

5. I made an attempt at lubricating brake and shifter cables. Dunno how useful this is, but I had some dry lube I was itching to use. I also put some on the chain. It still has some factory coating on there, so again, not sure how useful. But I practiced the task.

6. I think I traced the squeaking back to my adjustable stem. Which it turns out is in the highest possible riding position. So I'm going to try moving it to the lowest position. That should both let me stretch out and lower my center of gravity. I think that could help increase my comfort with handling. However, I couldn't loosen the bolt with my cheap wrench. I didn't want to force it, so I've got a better tool on the way.

7. I'm heading out for a 10 mile ride with my Dad tomorrow.


Longer term, there are many other ideas queued up. I need to ride more and figure out my active constraints.

1. Practice mounting and dismounting more gracefully.
2. Practice riding on loose substrate
3. Learn how to tune my rear derailleur, to optimize shifting. Repack the guide and tension wheels with grease. Adjust the spring tension.
4. Something similar for the front derailleur.
5. Touch up the paint job
6. Repack wheel bearings
7. When I eventually take off the cassette, get and apply a new spoke guard
8. Get a Portable pump or c02, so I can repair flats on the road.
9. Get a lock, so I can go places.
10. Get a multi-tool with chain breaker, so I can repair broken chains on the road.
11. Replace cabling. What's there sloppily done and old
12. New brake pads. Mine are working, but old.

sky
Posts: 1726
Joined: Tue Jan 04, 2011 2:20 am

Re: What I Spend

Post by sky »

Your list of things to do is about the same as what I did with a few of my bikes, and they have remained in good condition needing only basic maintenance for decades. So once you are done with your checklist, you will have a reliable machine for a long, long time.

shaz
Posts: 420
Joined: Mon Aug 02, 2021 7:05 pm
Location: Colorado, US

Re: What I Spend

Post by shaz »

It's great you are getting out and enjoying your bike.

Try lightly sanding your brake pads. Sometimes that will restore the grip on older pads.

Scott 2
Posts: 2824
Joined: Sun Feb 12, 2012 10:34 pm

Re: What I Spend

Post by Scott 2 »

@sky - I am counting on it. Already, with the most recent changes, today's ride was much improved. No toe pain, no bugs in my eyes, the machine just worked. I took the 10 minutes to clean it afterwards. Things are only getting better.

@shaz - I added sanding brake pads to my list. I went the other direction on my trail today, which turned the mile long downhill into an uphill. That avoided my fears well, though it might not have been Dad's preferred direction. He rides a few thousand miles per year, so I assumed I'd constantly slow him down. But heading uphill, the v02 max training seemed to transfer. It turns out we each have our strengths. It was a good ride.

User avatar
Viktor K
Posts: 364
Joined: Sat Jul 30, 2016 9:45 pm

Re: What I Spend

Post by Viktor K »

wow that’s a lot about bikes! you’re really getting into it, i don’t know even half of that haha

Scott 2
Posts: 2824
Joined: Sun Feb 12, 2012 10:34 pm

Re: What I Spend

Post by Scott 2 »

This is what FIRE looks like! I can get an idea and chase it, without giving anything else up. My best hours go into my top priorities. It's awesome.

Scott 2
Posts: 2824
Joined: Sun Feb 12, 2012 10:34 pm

Re: What I Spend

Post by Scott 2 »

July 2022 Total (Couple) - $3694
Healthcare/Medical - $1092
Exercise - $1009
Groceries - $710
Home Maintenance - $260
Utilities - $225
Clothing/Shoes - $185
Pets/Pet Care - $80
Automotive - $53
Video Games - $30
Entertainment - $30
Streaming - $20

Spent $3694 against an estimate of $5939. Most of the discrepancy is unspent discretionary money.

The most unusual outflow is over $1000 on exercise. I got bike tools and parts. My wife got a bike. I got lifting toys. My wife joined a different pool. Other than the ongoing pool membership, I expect these to be one time costs.

The $100 increase in our grocery budget has been welcome. We end the month with high food inventory, ready to afford indulgences next month. We are finding stores better stocked, which could be a symptom of the food inflation.

We planned about $400 on home improvements, but never got around to it. I don't have much interest and my wife had other priorities. The money carries to next month.


August 2022 Estimate - $5419 (Couple)
While $5419 keeps our budget on track, I bet we end August closer to $4k. Despite my best efforts, our consumption is hitting non-financial constraints. However, I don't think it's time for a paradigm shift. We're only an appliance failure away from tracking to plan.

We're probably going to revisit our strategy in December, to align our financial year with the calendar year. That will be a good time to improve the budgeting model.



Overall
Net worth is up about 5% over last month. My financial angst is lower.

I think Summer 2022 will stand out as my transition between "retire from" and "retire to".

Scott 2
Posts: 2824
Joined: Sun Feb 12, 2012 10:34 pm

Re: What I Spend

Post by Scott 2 »

July Changes - Results

1. Register and Train for a 5k - Done. The 5k is in 3 weeks. I hurt myself by trying too hard - twice. But I learned from those mistakes and am recovering. My current guess at a finish time is 33 minutes. Today I was browsing future 5k's, so I have interest in more. We'll see how my body holds up.

2. Bikes an hour per day - On average, I'd say I hit this. The month was front loaded, however. Tweaking my sacrum by trying too hard dampened my enthusiasm. Extra couch time was the result, giving video games priority. Given the trade off in training for my 5k, I'm going to de-prioritize this one for August.

3. Do new things outside - Hurting myself impaired this. I tried the 5k trail. The river float is delayed to Fall. I don't enjoy the sun or heat, which conflicts with Summer activity on the water. I did try my wife's new pool, but that's inside.


4. Orthodontics next step - My expectations were radically too high. Rather than having a predetermination answer, the request has only just been submitted. The process is glacially slow. It could take 2 months for an initial decision. An unfavorable result requires appeals, which could take even longer. At this point, my tempered expectation is to have an answer by open enrollment - 11/1. Then I know if it's worth keeping my premium health insurance.

In theory, I could move forward - removing my wisdom teeth and starting braces. But I hate the idea of making changes without a firm overall plan. So I'll pause this item for August.


5. Medical testing continued - My effort stalled. I took the borderline blood work to an endocrinologist, who did a few more tests, then said I'm good. However, the insured standard is "not sick" rather than "optimal health". Given that I am fully engaged with what insurance offers and medically stable, I'm going to call this one done. I spent a lot of time and effort, for relatively little action. A clean bill of health is a good end result, though.

Barring the open question around jaw surgery, I am comfortable with a low cost bronze plan for 2023. I also feel confident basic medical care would remain affordable, due to in-network rates being well negotiated.

Eventually, I'd like to cash pay a health optimization panel and check my Omega 3 levels. That might be a 2023 activity.


August Changes

1. Complete a 5k - My priority is recovery and injury prevention. I'll continue training and eating well, through event day. Once that's over, I'm going to eat more and hopefully regain some strength.

2. Program once a week - Coding might be my best way to participate in society. I need to explore the idea more.

That's it. My motivation to change is low.

recal
Posts: 80
Joined: Sun Nov 14, 2021 12:29 pm

Re: What I Spend

Post by recal »

Good to see the progress on the bike. I myself finally got a milk crate on my bike this week (and I got my bike in February), which finally makes it beyond a hobby machine and into a useful machine.

Scott 2
Posts: 2824
Joined: Sun Feb 12, 2012 10:34 pm

Re: What I Spend

Post by Scott 2 »

Now that my bike is useful for exercise, upgrades have dropped off entirely. I'm having too much fun. So 6 months to add the crate sounds about right.

classical_Liberal
Posts: 2283
Joined: Sun Mar 20, 2016 6:05 am

Re: What I Spend

Post by classical_Liberal »

Backpacks are the working bikers milk crate. A decent hiking pack can hold a shit-ton of groceries, or whatever. It also doubles(triples?) as a hiking backpack and a carry on travel bag, believe it or not.

take2
Posts: 317
Joined: Wed Jan 09, 2019 8:32 am

Re: What I Spend

Post by take2 »

It might not work with your type of bike but having panniers and a pannier bag that clips into it and doubles as a backpack has been my go to for groceries, etc. I just have a bike for commuting purposes though, it’s not really a road bike or a mountain bike.

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