I've never had a budget before. As a student, I had a simple goal of conserving every dollar. Nothing was ever purchased on impulse. I also got into the habit of tracking prices. I knew what I would need and when, and I could use my price database to tell me where to go and how much money I'd need.
Now that money is not as limited, I still run fairly conservatively. A dollar is never thought of in terms of how much work I had to do to get it. Nor is it simply just something that comes in on the regular basis.
So, how do I think about money? Well, I'm looking at a new laptop. It's priced at $400. $400 at a 6% yield is $24/year. That's .24% towards the red line, or about 1/417th. That's very significant to me. Even $10, $0.6/year gets me that much closer. Likewise, I view my typical pay cheque as being roughly $55/year towards my goal. That's a little over half a percent there. As long as I'm trading time for money to make ends meet, I've got to be careful how much money I deem expendable. My time is not disposable, ergo, income obtained from time is not disposable income.
If all goes well, one of my big personal loans should get repaid on Friday. I'm really looking forward to that. Though I've had the lingering feeling that I've got too much cash sitting around for a while now, so I've got to find a place to put that stuff. I also want to open up a new discount brokerage account.
To do list for the week:
Clean room
Decide on specific preferred shares to go after
Revisit asset allocation-dividend yielding common stock is very attractive right now too
Figure out REIT financial statements-My knowledge of these are largely conceptual, but they look like a good way to start off my fledgling source of non-employment income
Estimate time to the red line-I'm not sure if I really want to do that at this point
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