Can't Grok, Won't Grok

Hey Guys! Long time no speak right! I said in my previous post that I had been busy, so I thought I would share with you what I have been up to, and what's on the plan for the rest of 2011. Here's where I stand on my 2011 goals : Financial Goals Supplement Income by 25% - The plan here was to get more creative about how I earn my cash. Rather than floating from paycheck to paycheck, I wanted to get more money from more sources. I am pleased to say I have formed my own company, have my first contracting gig signed and am starting to flesh out my first product idea, which I want a working prototype well before the year is out. By the end of the year, my turnover would be yielding an increase of about 23-25% extra on last years income . WIN . Reduce Fixed Outgoings by 25% - As well as trying to make more, I want to spend less - I want to funnel cash into doing stuff rather than spending it on mindless crap. I am super-pleased to say that I have reduced by fixed outgoings ...

Hey Guys! Remember me? Yes, it has been a while, and yes - I have been busy! I'll get another post up soon explaining what has been chewing up my time, but for now I wanted to get some buzz around two great-looking events coming up soon. What's best is that these hacks are just about hacking, they are about hacking with the intent of helping the third sector. Why Bother with a Hack Camp? As you may remember, last year I attended CharityHack, which was great fun and amazing to see what people are capable of producing in such a short space of time (lots of caffeine and pizza help). For me, I think I would say that I go to these events to: Learn from many smart people with a variety of skill sets. Network with lots of like-minded people. Build software for problems I may have never encountered before (very easy to get stuck in a business and only deal with their problems). I like to shake it up a bit. Just hack - get away from it all and focus on building something awesom...

At this point, we are totally rocking and rolling with our makeover. We have got the fundamental tools in place (like the budget and emergency fund I ), we are continually reviewing and cutting unnecessary expenses and we have cleared our debt . So what’s the next step? Well, we need to get a safety net, a big safety net to offer us increased security and peace of mind. The Emergency Fund II. What is the “Emergency Fund II”? Like the emergency fund I, this is money in the bank “just in case”, but rather than act a a buffer against unexpected “casual” expenses, this exists to help shield us against something potentially far worse, unexpected job loss . Unfortunately (especially in recent times) this can happen, and when it does, it can hit hard and have a disastrous “rippling effect”. In a nutshell, the fund: .. is 1 years salary ( gross ). .. is allocated meaning we do not touch it unless we absolutely have to . So, take your salary (not your take-home). That’s what we are a...

At this point, we should have created our budget , allocating savings and have our emergency fund 1 to prevent surprises and naturally cutting expenses where we can . So, what’s the next step? Well, we really need to own our responsibilities and clear our debt . What is the "Debt Snowball”? Put simply, it is a list of all of the debt that we have. Loans, credit cards, money owed to friends/family, overdrafts whatever. The only debt it doesn’t include is the mortgage. The aim of the snowball (at a high level) is to simply provide some visibility and focus on the money that we owe to other people . As you can see, a central theme to our makeover is removing surprises and setting expectations of our money . As people in command of our cash, we should always clear debt before having our own fun with our cash (and we never borrow again once we have cleared it). Why have a “Debt Snowball”? For me, I love the idea of the snowball for the following reasons: It’s sim...

When working to a budget, it helps to keep on top of it, rather than do it all at the end of the month (I started off doing this, and it quickly become very boring and tedious – not to mention a PITA for reconciliation). So, it can pay to have something on you to help keep track of your expenses as you go. It could be anything, a notebook or for me - a phone app . However, this in itself can become cumbersome – and after taking some time out to think about it, I realised the problem: When we are working to a budget, there are no “surprises” with the expenses. Which is kind of amusing, since this is precisely why we budget in the first place, right? So, the vast majority of expenses/outgoings we enter into our “thing” (app, notebook, whatever) are expected . While not as tedious and boring as doing it all in one hit, it’s still pretty fruitless doing so - I still find it “wasteful”. Having come to this conclusion, I have just deleted all of my accounts off my phone. Turn It...

I have recently started my minimalism journey, and while I have yet to blog about it (TBH, there is enough out there already), I certainly intend to pick up the pace and really lean down in 2011. So, I thought I would quickly share my goals with you =) I have divided my current aims into three phases, obviously these might change slightly over time, but this is what I am committing too right now. I have also started “Phase One”. Phase One – “First Pass” and the “Big Stuff” (By End of Jan 2011) Obvious Clothing - Old, Worn and Rarely-Used Items TV Gone 360 Gone CD’s and DVD’s Gone Old Computer Bits and Components Gone First Pass of Household Items Here I am simply getting a handle on the “wood through the trees”. Also, I want to clear the obvious distractions from the house (namely the TV and 360). Phase Two – Getting Lean and Preparing for Downsizing (By End of Mar 2011) Clothing to 50 Items or Less (Likely Less =)) 1 Lightweight Yet Powerfu...

Following my reflection on 2010 , let’s get to looking forward! Before we begin, I just want to cover a few points: I started with a “realistic” goal, then pushed the boat out a bit (I’d rather be unreal- istic). There is a heavy financial focus this year, since I want to continue my financial liberation after being consumed by debt for so long. Each goal has clear “success” criteria. By the end of the 2011, I should either be able to tick the box, or not. KISS . So, let’s get on with it! Supplement Income by 25% Pretty simple here, I want to take my salary, then find a way to get an additional 25% on there. Whether this is by moonlighting, building and selling stuff, selling myself * , I don’t care, whatever. The 25% increase to “income” will naturally enable me to do more, but the focus is here is to actually get more creative about how I make money (as opposed to waiting for that paycheck). * Worlds most boring and unattractive gigolo anyone? Reduce Fixed ...