Latest Event Updates
I have a second job now! Will start orientation and training in about 2 weeks!
My new mortgage payoff goal is June 2018 with the extra income the second job will bring in!
I was at the supermarket the other day, and this guy in front of me had 3 items and was waiting on the regular line which was moving slowly. A lady told him, “You could go on the express line” and he ignored her. When he got to check out, he loaded $100 onto a gift card. He was kept looking at me, was a bit jittery, and had his arms crossed the whole time.
When he left, the cashiers said they think he’s up to something but they couldn’t ask for identification until the gift card amount is over $200. They mentioned that he didn’t have a wallet and just had the credit card in his coat pocket. Reason to be suspicious? Maybe. But I just didn’t like the way he kept glancing nervously at me.
Incidentally, a few days later as I was checking my credit card statement- I noticed two entries for Starbucks gift card reloads that I had not authorized. Luckily, the credit card company has a zero liability policy when it comes to fraud.
It made me think of how rampant credit card fraud is, and the need for vigilance over our accounts.
The strange thing is that it happened with a credit card that I rarely use, and apparently- the theft could have occur month(s) ago. As I went through transactions with customer service, there were charges that were denied a month ago- but since it didn’t make it on my statement, I didn’t know that someone had access to my card.
Just remembered- two years ago, I’d booked a vacation with a travel agency over the phone and a few days later– unauthorized credit card charges. All of my situations deal with small amounts that can be easily overlooked. I’d read that thieves usually charge small amounts to see if you are watching your account, and then charge huge sums afterward if they can get away with it.
I come from a family of 4 siblings. My parents worked hard, saved little.. everything they earned went towards feeding us. We are testaments of their efforts and I’ve always believed that if I worked half as hard as my parents always have, I would never go hungry.
Because of this, I never felt any resentment towards my parents for not having saved anything for retirement. For them, WE are their retirement plans. For people in traditional countries around the world, families take care of their elderly. There is no talk of nursing home, long term care, or downsizing from any empty nest. This is the reason why many people (especially those in Third World countries) have children; so that there would be someone to care for them when the time comes.
A co-worker of mine does not share this mentality.
She says that she wants her child to live his own life and not worry about her. She doesn’t want to be a burden.
While I understand both views, I wonder..
How would our time & money management differ if families continue to care for their elderly? I am aware that factoring in rising health care costs, demands of the adult child’s own work & family life, and the fact that some people are not able to shoulder the stress of caring for an aging –and possibly sick– parent. It is not the right choice for everyone.
However, if you knew that one day, your children will be the one taking care of you — your housing, meals, health, etc during retirement — would this change anything that you are doing right now?
Would you work less and spend more time with your kids?
Would you still save, such as for unplanned health care, but for less since some of the other needs would be covered?
Or do you think that this would be a burden on them? Would you have more children in order to balance out the burden?
Is your independence & autonomy more important to you than the security of having your children as your Plan A?
I play the lotto, now and then. I’ve always had a dream of becoming a multi-millionaire, but unless I do win a big-time lotto drawing- I’d have to settle for becoming a millionaire first.🙂
My road to millionaire-dom!
- Max out my yearly 401k contributions- no problem, on autopilot!🙂
- Pay off all my credit cards on time and watch out for overdraft fees at the bank- this happens maybe once a year, but that waste of $35 still hurts!
- Follow my plan to pay off my mortgage by 2018!
- Work as much overtime as I can without jeopardizing my health, happiness, or relationships.
- Don’t fritter away what I earn- either save it, or spend it on something that will add value to my life.
- Pack my lunches and dinners! So hard to do, but I think it’s something that I gotta do if I want to be serious. This can easily add up to $75/week or $300/month!
- Vacation on a budget- I usually work a lot, so when I get time off- I don’t care about how much I spend. So now, my goal is to still vacation- but be creative about it, or try Groupon to get some good deals.
- Dine out on a budget- I rarely eat out, so I also don’t watch how much I order. I think as long as I stick to my budget of $40/week, it should be fine- right? I’ll see how it goes and adjust.
- Grocery shopping- This is a big one for me because I live at multiple locations- my place in Westchester, my parents’ house in NYC, and stay at my boyfriend’s apartment in NYC. Food often go rotten, milk expires, and I’m so used to making for an entire family that my portions are huge and there’s always left overs. I hate wasting food, so this is something that I have to work on ahead of time- like if I will be going on a 2 week vacation, working a lot and just at home to sleep.. I can do without salads and milk if they will just waste away.
- Stick to a food, entertainment, and shopping budget of $200/month. $200 may seems small considering I’d said my dining out budget is $40/week, but I don’t eat out regularly- shop, or hang out much so there will be extra that I can roll over to the next month when I may hang out more.
- Exercise, get regular doctor and dental checkups, stay healthy! Can’t do much if you’re sick! And not mention, nothing will eat away at your bank account faster than hospital bills! Which brings me to..
- Have adequate insurance! This includes health, car, life, disability insurances! But most importantly for me- health insurance because you do NOT want to pay full-price for health care. The costs are obscene!
- Save or invest my income! Save or invest! (or pay down debt!)
Will this make me a millionaire? I think so! I will start tracking my net worth to let you know!
Decided to stay motivated by joining the Yakezie Challenge! Financial Samurai is my hero, so it’s only fitting that my baby steps happen in part because of him! For the next 6 months, I aim to post 2-3 times a week, stay active on social media, and learn as much as I can from my fellow personal finance bloggers!