We Are Rich

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Over the weekend I was reflecting on how good life is and it occurred to me just how rich we are. Maybe we don’t have a lot of money in the bank, or invested. Perhaps our car isn’t the shiniest on the block. Our house might not even be the largest or newest in the neighborhood. However, we are, undoubtedly, rich.

  • We don’t have to worry about whether we will have food, but what sounds good for the next meal.
  • Perhaps that new job hasn’t worked out, but we still have our smart phones.
  • The great concern is if we will find something on television to entertain us tonight.

Those don’t sound like the concerns of a poor person, no matter what the bank account might say. We have food, clean water, and shelter available to us.

Still not convinced?

  • Even if we don’t buy anything, we can take an afternoon (or a day!) and spend it shopping and chatting with friends.
  • We drive our personal car to the above shopping trip.
  • Most likely we stop at a restaurant where, again, there are more food options than we even bother to look at.
  • The restaurant has to throw out any extra food at the end of the night, for tax purposes.

We live in amazing times. Life is good, especially when we take a moment to stop and think about it. We are rich.

I Want To Live Life

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I want to live my life, not just view it. That’s why I recently took a break and why I am trying to start a business of my own. It’s easy to sit back and just watch life go by, to react to things, to watch other people having the adventures. But I get restless when I am just watching. That is part of why I get so frustrated with college: we are learning about other people who are out there doing things while we are told to “wait until it is your turn”. Pfft… why can’t it be my turn now?

This site was created because I want to get out there and do things while encouraging others to do the same. My wife and I don’t watch tv, because we’d rather do exciting things instead of watching others do them. Like Sebastian, I love to play sports but don’t care much for watching them, though I’ve always been this way and didn’t have to “give them up”.

Recently this topic seems to be recurring in my life. The article by Sebastian about playing sports but not spectator sports, an excellent post about the Rise of Spectatoritis, and some conversations with friends… all echoing some thoughts that I’d been having on my own.

A Neglected Hobby

One of these lines of thought was about a hobby: bushcrafting (ie: camping, playing in the woods, etc). Nature has comforted me for my whole life, but in recent years I haven’t been making the time to get out and enjoy some wilderness time. It’s easy to make excuses: I live in the city; it’s an hour drive to get out; the weather is miserable. However, if I really want to get out and about, to do something that makes me happy, there has to be a way.

Just behind my apartment runs a creek. It has at least 50 feet of overgrowth on each side of it. This “wilderness” lives in between 4 different residential areas, a no-man’s land. No, it’s not my dream location of acres upon acres of wilderness with old-growth forests. It’s not necessarily a place that I would be comfortable spending the night in (since it is often over-looked by my neighbor’s windows, and I don’t know how they might react to a campfire and hammock appearing just outside their back yard.) However, it is a place where I can get away from my “city life” and practice some bushcraft skills. Wood can be gathered for a fire on my porch (in my grill/fire-pit). Hammock and tarp can be hung for practice. Deer, squirrels, rabbits, groundhogs, raccoons, turtles, and more can be tracked and viewed. Most importantly, I can do this whether I have 15 minutes or a whole weekend free.

However, I have to remember to do this. It’s easy to sit on my computer surfing the BushcraftUSA forums and read about others who are out doing things. Many times I sit there and wish that I had the opportunities that they have. Maybe I don’t, but I do have some opportunities. I can get out and practice and explore. Then, when I do have a chance to visit a national forest I will know exactly what to do and how to do it. Until then, I know where an amazing blackberry patch is hidden. 😀

On Business

I mentioned that I want to start a business of my own. For years now I’ve been reading about business. I can tell you what you need to start a business, how to write a proper business plan (and how to do the quickie, one-page version), explain where and how to get funding, and what to do with it once you’ve got it. I have ideas that can be started for less than $100 and some that would take a few million. However, I’ve never actually done it. I have never run a business of my own, not even a lemonade stand as a kid.

Starting a business is really easy. All you have to do is offer to exchange something of value for money.

  • Is it hot and someone doesn’t have time/hates doing yardwork? Offer to mow their yard for $30. Do this for 15 people and you’ll be making $450 a week. All you need is a push-mower and some gas.
  • Don’t have a mower? Offer to walk someone’s dog. All you need are feet and a hand. Get your first few clients for free from Craigslist.
  • Know how to do something fairly well? Go and teach it to people who don’t know how to do it at all, but would like to.

You don’t have to be amazing at some skill to run a business. You just have to be better or more willing than the person who is willing to pay for what you offer.

So for all of these years I’ve been gathering knowledge on business. Reading those books, taking notes, coming up with plans, etc. But I’ve never tried it. Instead of sitting back and just reading about others doing it, I have decided to do it for myself. The books have been put aside, the plan was made, and I have made my first move.

Freelancing

I want to spend as little money as possible until I have a reasonable expectation of my venture’s success. In fact, I don’t want to spend any money. And so, I’m starting out as a freelance consultant. Start-up cost so far? $0. I’ve offered my freelance services to my current boss in exchange for the contacts of 3 people who she thinks would benefit from what I offer. So I get a practice run and hopefully future paying clients. The profit from those future clients will be spent on building the business.

So what will I be doing? As a consultant I will help my (future) clients understand how they can become more productive with a few simple tweaks to their daily workflow. How will I do this? By combining all of this knowledge into simple actionable steps for them to take: not only do I understand how business operates, but I know about energy management, how not to have meetings, the importance of brainstorming sessions, how modern electronics can help and hinder workers, how email kills your productivity, what the only two important tasks any business does are, how to identify the best ways to do them, and more.

All of that knowledge, though, is useless until I actually get out and do it. I have to act on it and help others do the same. Finally, I am. Instead of reading about it, I’m going to go do it.

What about you?

What do you want to do but don’t? Maybe it’s a hobby you no longer participate in, a dream you watch others fulfill, or something else. Whatever it is, believe that you can do it! Share what you spend time watching others do in the comments.

What I’ve Been Up To

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I know that I took a break and it’s been much needed and greatly enjoyed. My wife and I have gone on vacation: visiting a new part of the U.S. and a family member we haven’t seen in a few years; re-started school (my final semester!); explored some places we rarely visit around our home; and more! Spending time actually out and adventuring is so much more fun than just writing about it. 😀

School has just started back, so our schedules aren’t quite figured out yet. On top of that craziness I’m trying to figure out exactly what to do next year, since I’ll be done with school. I have a couple of ideas: one on how to continue my education without the torture of school, and a few on how to increase my income. With the finances such a part of my thinking here recently, I thought that I would share some of the resources that I’ve been looking at. You may notice that I prefer the idea of working for myself in some way, though at the moment I wouldn’t turn down a more traditional job offer.

24 Legit Home-Based Business Ideas
23 Ways to Make Money – it might say for teens, but anyone can make them work
Best of Paying the Bills
Paying the Bills
How to FreeLance – an excellent free guide on getting started freelancing

As I make some progress I will try to keep you updated a bit more frequently.

Internet Sabbatical

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I recently realized that I spend too much time online (this isn’t a new thing, I’ve noticed it before.) Those previous attempts don’t seem to have worked, however. So, this time I’m making more drastic changes.

I’m getting offline. Homework and communication with friends/family will still take place, so the internet will be utilized. However, the time spent online needs to reflect its priority in my life. Wife, art, motorcycle… no where in there is a computer mentioned.

I’m not the only one

I recently read this article by Ev Bogue. In it he talks about his relationship with the internet and the services found there. He recently took a month-long sabbatical from the internet. Though he was scared to do so, it revitalized his life. His new goal is to set up his internet business so that it doesn’t need him in order to run. Then he can get offline for as long as he might desire.

The future of this site

I love writing. I love working on this site. However, I don’t seem to be any good at writing and keeping a healthy focus on the things that are most important to me.

And so, I’m taking a sabbatical. During that time I’ll plan out what the future of Adventure-Some looks like. There are already ideas for new articles, a new layout, and (perhaps most importantly) a new posting schedule.

Let me know what you would like to see in Adventure-Some two-point-oh!

Taking a Vacation

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One of my favorite things about being a full-time student is the vacations. It’s hard to find a job that gives you nearly 3 months of vacation time.

Going Adventuring

It’s spring break, and I am stoked. My wife and I are going on some much-needed adventuring.

Break Time

One of the goals for this week is to simply take a break and unplug. My laptop will be sitting untouched. Homework will be ignored. Non-fun books are bookmarked and closed.

That includes Adventure-Some. There won’t be any new articles this week. In the mean-time, feel free to browse the categories (like Travel) or see how to get more adventure in your life.

Have a great week!

Finance Tracking

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Now that we’ve made some changes to our spending plans, and focused our finances a bit, we need to create a system that automatically lets us know how well we are doing with our goals.

As simple as this spreadsheet is, I’ve become a fan of Mint because it enters the information for me. Even though data entry doesn’t take me very long, it’s much easier to have a computer do it automatically.

It’s easy!

Fortunately, using Mint is quite simple. Part of being a Money Master is letting the finances run in the background so that we don’t have to focus on them. The goal is for our money to help us live the life we want to, instead of being a slave to the money.

Mint has created a series of simple instructions that outline how to complete each step. Since we have created our spending plans, now we can just follow mint’s advice to help us make sure we’re on track with our spending.

Set up

Yes, it will take some time at first to get everything put in place. However, this will be time well spent. Once you get everything set up you will be able to simply log in, check the details, and then use the tools that Mint provides to see how you are doing.

Overview

Being able to see a snapshot (no matter if you prefer bar graphs or pie charts) of your personal finances is an amazing feeling. You will be able to see the progress you are making towards paying off your debt, how your savings are growing, and how much of your fun money is left to spend. After all, that’s what it’s really all about, right?

Free Inspiration

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My friend Tom, from The Practical Nerd, recently created an amazing resource. He emailed a number of extraordinary achievers and asked them what some of their ordinary achievements are. This insightful question allows us to see behind-the-scenes into their lives to teach us how much like us they are.

Not only does Tom provide a great list of inspiring individuals whose accomplishments and goals include visiting every country in the world, pursuing 10,000 Random Acts of Greatness, and letting readers choose where they live for the next 4 months. He also helps us get a glimpse of just how ordinary these individuals are; some of their goals include graduating high school, eat breakfast on a daily basis, and the author who writes every day.

This is the kind of post that you should bookmark and return to frequently. Look at the accomplishments by those mentioned for inspiration. See how they are ordinary people and know that you can do the same. Use it as a “to contact” list and meet new people. Check out the resources provided by those mentioned.

Thanks, Tom!
Go, check out Average goals from extraordinary achievers.

http://www.thepracticalnerd.com/2011/03/02/20-average-goals-from-extraordinary-achievers/

Financial Short List

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Nowt that I have a Spending Plan, it’s time to trim the fat from my expenses. Similar to the Short List that helps me free up my time, this will allow me to spend more money on the things that I really enjoy.

Focus

By determining what you really want to spend money on, and what doesn’t matter to you, it is possible to save money while getting to spend more on what you love. This is not more frugality advice: “Stop getting a daily coffee and save $4 a day (approx. $100 a month).” Instead, this process will help focus on the actions that have the greatest impact: “If you don’t care where you live and only use your apartment for storage and sleeping, move to a smaller place and save $300 a month. Then you can spend $200 more a month in your guilt-free category while still investing $100 more.”

The key is to cut ruthlessly from any category that you don’t care about so you can spend extravagantly on things that truly interest you.

Finding your focus

There are two main approaches to figuring out where to cut and where you should spend.

  • List areas that you love and don’t mind spending on.
  • List areas you don’t care about and prefer not to spend money on.

I find that a combination of these two work best. While it is easy to list things that you enjoy doing and things that you will never spend money on, the middle ground is often where you can have the greatest impact.

Paying attention to your reactions will help you identify areas where you can cut back. It’s easy to fall into keeping up with the Joneses and spending money on things you otherwise wouldn’t. Here are some areas you may wish to examine:

  • Housing
  • Transportation
  • Clothes
  • Dining Out
  • Partying
  • Entertainment
  • Traveling
  • Hobbies

My favorite way to look at these is with the help of a friend. I pretend that they are telling me about a new purchase they are making in each of the categories and note my reaction. If it is negative, then I can generally cut my spending in that category. Positive? I have found one of my focus areas.

Some Examples

  • My eyes glaze over when fashion and the latest shopping spree are discussed. I buy timeless clothing that will last so that I can spend a minimum on my wardrobe.
  • I will talk to anyone about any motorcycle, enthusiastically. However, while I love Ms. Peeps, I love the experience of motorcycling, no matter what brand. Thus, I need any motorcycle that is reliable and within my budget. Newest, fanciest, and fastes doesn’t interest me.
  • Whenever a friend tells me of a trip they are going on, I wish that i could go. Travel is definitely a focus for me.
  • I always wonder what people do with all the room they have in big houses. My two bedroom apartment sometimes seems extravagant to me. As long as my basic shelter requirements are met, I am happy.
  • Any time a friend discusses a new restaurant I make sure to find out where it is. I love the experience of dining out.

The results

I only buy new clothes when I absolutely need them, intentionally keep my rent as low as possible, and don’t spend on accessories for my vehicles. This allows me to travel and go out to eat more often.

Recently, I have begun paying more attention to my reactions to spending. As I gain a better understanding of my financial reactions I will be able to create my Financial Short List. With this focus I will be able to spend more money on the things that I love and live a fuller life because of that freedom.

What are some items on your Financial Short List?

Tell Your Money Where to Go

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The first task I’ve completed on my way to become a Money Master is to tweak my budget. (If you cringe at the idea of a budget, think of it as a Conscious Spending Plan instead.) It didn’t take me very long, since I already had a good understanding of my finances.

Why?

It’s nice to know that all of your bills are taken care of, and that you can go out and spend money guilt-free. A spending plan allows you to do exactly this. When the money in the “guilt-free spending” category is gone, I’m done for the month. However, I can spend that category on whatever I wish. Ahh… the freedom!

The basic idea

The first step in telling your money where it should go is to have an idea of where it currently disappears to. To find out, track your spending habits for a month. You might want to use Mint.com, an app on your smart phone, or a simple legal pad. Once you know where you spend your money, you will be able to build your spending plan.

A Template

The basic template that I used for my budget only has 5 broad categories. I love this simplicity.

  • Fixed costs – 60%
  • Retirement savings – 10%
  • Long-term savings – 10%
  • Short-term savings for irregular expenses – 10%
  • Fun money – 10%

Fixed Costs

These are the things that you have to pay each month: rent, utilities, car payments, debt payments, insurance premiums, groceries, etc. Fortunately, they normally don’t fluctuate very much from month to month. This makes it easier to plan. After adding all of these together, add 15% to the total. Trust me, you’ll be glad that you have this bit of extra when you need it (think of those extra cold days when the heater is running over-time and runs your bill up).

Retirement Savings

If you’re not adding money to your retirement account on a regular basis, you should be. While 10% is a good rule of thumb, this amount is likely to change over your life. When you’re younger, it will probably be less, and increase as you get older. The most important thing is to be investing something each month, even if you can only manage $10.

Long-term Savings

Long-term savings include things like a wedding, new car, or the down payment for a new house. They’re called long-term for a reason, they’re often a number of years in the future. It’s easier to save big chunks of money over a lot of years than having to come up with it quickly, however.

Short-term Savings

These are often the items that blow our budgets, because we fail to plan for them. Save up a little each month for Christmas and birthday presents instead of having to put it all on your credit card when November rolls around. Vacations are so much more enjoyable when you have the cash set aside before you head out, so start saving for your trip now.

Fun Money

Finally, our favorite category! This category includes whatever you do for fun. It includes things like purses, eating out, going to the movies, drinking, buying books, or spending money on gadgets. There are two important things to keep in mind with this category: spend on whatever you want, until you run out of money. Once this category is gone for the month, stop spending! Knowing that you can go out with your friends, or buy that new thing you want without worrying about breaking the budget is an amazing feeling. Guilt-free spending at its best!

Now what?

I’ve put together my spending plan, so I know where my money goes each month. The next step is to figure out what I don’t want to spend money on so that I can live the fullest life possible.

In the next post I’ll show you how I am going to do all of the things that I want to, and you can do the same! Until then, I’d love to hear what your Fun Money will be going for. Leave a comment or shoot me an email.

Becoming a Money Master

On Monday, I mentioned that I want to optimize my personal finances and then increase my income. I want to become a Money Master.

What is a Money Master?

A Money Master is someone who is in control of their finances without requiring a lot of maintenance time each month. They know how much income they have, outgo they spend, and know how much they can spend on anything that they please. Ideally, they are debt free, or at least actively working toward that goal.

Where I stand

I have a good start to being a Money Master, but still have many improvements to make to my personal finance system. My finance tracker has helped me a great deal, though I have recently switched over to mint.com (because they automatically pull my information and I don’t have to enter it manually).

  • It takes less than a hour a month to manage my finances.
  • I know roughly how much income I have each month.
  • On average, I know how much outgo I have.
  • I have only school debt, and a plan to pay it down as soon as I graduate.

Improvements to make

The good start above can be improved further, so that I can become a Money Master.

  • My finances can be further automated, so that my bills will be paid even when I am away on vacation.
  • I can find an account that offers higher interest rates than I currently have.
  • My budget can be tweaked to make it less complicated.
    Last but not least…
  • I can earn more money

Join me!

Over the next few weeks I will be applying what I know about personal finance. Knowledge gleaned from books like I Will Teach You To Be Rich, The Total Money Makeover, and Financial Peace will be put to use. I will have a finance system that will require almost no time each month, but will ensure my bills are paid, savings are growing, investments are also growing, debt is being paid off, and that I have money left over to spend however I want.

Let me know if you’re going to join me!