Comments for nemilar.net http://nemilar.net Living Better through Learning Sat, 10 Jul 2010 16:56:30 +0000 hourly 1 http://wordpress.org/?v=3.0 Comment on Keeping Track of your Spending by Lily http://nemilar.net/2010/07/06/keeping-track-of-your-spending/comment-page-1/#comment-11 Lily Sat, 10 Jul 2010 16:56:30 +0000 http://nemilar.net/?p=54#comment-11 I used to keep tight tabs every expense, but now I track by big picture using via net worth and I have a target net worth increase every month. I found this saved me time and mental energy, but still let me track how my overall wealth is growing. Since my spending was pretty in control already, I was more focused on building overall wealth instead of curbing my expenses. From a cashflow perspective, from my paycheques there are automatic withdrawals to 1.) savings accounts (goes straight to my net worth), 2.) to funding accounts (e.g. for future travelling or anything I'm saving for), and 3.) the rest is for living + discretionary expenses. As long as I'm meeting my target for net worth increase (via automatic savings), I don't worry about how I use my discretionary funds (e.g. if it was spent on eating out, entertainment, clothes, etc). At the end of each month, I more or less know the change in my net worth (and total net worth). I still take down my the assets, liabilities, major income/expenses, but that's just in case I need to look back to previous months at a later time. I have all my account logins bookmarked under one folder, so at the end of the month I just open all the bookmarks in that folder with one click (it makes account tallying faster). It takes time to find a system that makes sense for the individual and their current situation, but I agree having an awareness of your financial state of affairs is important. "It's not about money, but it's not not about the month either." I used to keep tight tabs every expense, but now I track by big picture using via net worth and I have a target net worth increase every month.

I found this saved me time and mental energy, but still let me track how my overall wealth is growing. Since my spending was pretty in control already, I was more focused on building overall wealth instead of curbing my expenses.

From a cashflow perspective, from my paycheques there are automatic withdrawals to 1.) savings accounts (goes straight to my net worth), 2.) to funding accounts (e.g. for future travelling or anything I’m saving for), and 3.) the rest is for living + discretionary expenses.

As long as I’m meeting my target for net worth increase (via automatic savings), I don’t worry about how I use my discretionary funds (e.g. if it was spent on eating out, entertainment, clothes, etc).

At the end of each month, I more or less know the change in my net worth (and total net worth). I still take down my the assets, liabilities, major income/expenses, but that’s just in case I need to look back to previous months at a later time.

I have all my account logins bookmarked under one folder, so at the end of the month I just open all the bookmarks in that folder with one click (it makes account tallying faster).

It takes time to find a system that makes sense for the individual and their current situation, but I agree having an awareness of your financial state of affairs is important.

“It’s not about money, but it’s not not about the month either.”

]]> Comment on “Habit is overcome by habit.” by Lily http://nemilar.net/2010/06/07/habit-is-overcome-by-habit/comment-page-1/#comment-10 Lily Sat, 10 Jul 2010 15:53:07 +0000 http://nemilar.net/?p=23#comment-10 On your point about journalling and reflecting: I once read 'we have 60,000 thoughts everyday, but most people think the same 98% of thoughts everyday.' I think by reflecting at the end of each day, we can identify what thoughts have over and over and if they are worth thinking again the next day. I only started journalling in the last few months since I quit my 9-5 job. But looking back on the last 1-2 years when I was working at a job I strongly disliked, I really did think the same thoughts every day. Morning: "Ugh, I don't want to get out of bed, I don't want to go to work. I wish I didn't have to go to work." At work "This project is so unnecessary, my boss is so slowly, this meeting is so boring. I can't wait for my vacation." After work, "I'm so happy to go home..." If I had started journalling and reflecting earlier, I could have spent at least 1 year of thoughts on other things like learning, thinking beautiful thoughts, solving puzzles. Now that I reflect, by just having awareness of non-productive experiences or thoughts, I naturally find I don't repeat the same thing again the next day. Obviously the positive experiences and thoughts are hopefully repeated :) On your point about journalling and reflecting:

I once read ‘we have 60,000 thoughts everyday, but most people think the same 98% of thoughts everyday.’

I think by reflecting at the end of each day, we can identify what thoughts have over and over and if they are worth thinking again the next day.

I only started journalling in the last few months since I quit my 9-5 job. But looking back on the last 1-2 years when I was working at a job I strongly disliked, I really did think the same thoughts every day.

Morning: “Ugh, I don’t want to get out of bed, I don’t want to go to work. I wish I didn’t have to go to work.” At work “This project is so unnecessary, my boss is so slowly, this meeting is so boring. I can’t wait for my vacation.” After work, “I’m so happy to go home…”

If I had started journalling and reflecting earlier, I could have spent at least 1 year of thoughts on other things like learning, thinking beautiful thoughts, solving puzzles.

Now that I reflect, by just having awareness of non-productive experiences or thoughts, I naturally find I don’t repeat the same thing again the next day. Obviously the positive experiences and thoughts are hopefully repeated :)

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