Happy Monday! I hope you had a great weekend. The big project for this weekend was hammering out our budget to see how many months it will take for us to reach our goal. Budgets are for the birds…I hate being restricted to “X” amount of dollars for this and that and not being able to shop freely and buy that iMac I have had my eye on for several months now. It sucks. The end product, however, is exciting and inspiring and adds to the long term goals in our life.
So, if we stick to the budget religiously we will be the proud owners of another VR in December. One that may even be cash flow positive (this story to come in another post). In sticking with the carefully designed budget, we have vowed to live in our very cheap, ghetto fabulous rental (yes, we rent) that is decked out in 70′s brown berber carpet, beautist gold and brown linoleum and BRIGHT gold and brown appliances. No joke, ORIGINAL appliances in this joint. Oh, did I mention that it is amazingly small to fit all 8 of us? Yes, thats right, 8 of us. We have 3 cats and 3 LARGE dogs. Did I mention it was cheap? We had planned to move, actually, buy or build a house this year but instead thought it would be more beneficial to our long term goals to buy another VR. Real estate prices in Maui are the lowest they have been in decades and there are several foreclosures in our complex.
Our fancy, smancy living room! I love the wood panel wall :)
Our cute kids: Franklin, Ellee Mae & Cooper
Another major cut back we took was in the travel department. Prior to the big goal announcement we traveled regularly. And by regularly I mean at least once a month! This year it looks like we will be entering into a travel freeze except for three trips–one weekend in Park City, UT, a few weeks in Maui to check on our existing VR and check out prospects for our second VR and to Chicago this fall to catch the Fighting Irish in action. I must say this was the most difficult cut back for me as I live to travel…anywhere, anytime, count me in.
Those were the major noteworthy items in the budget. Oh, if you are wondering, we are a one car family and it was a much smoother transition that I had imagined. We do have the luxury of working from home (yes, we both have jobs other than the VR and the dog biscuit company) and when we are not home we are traveling for work or pleasure. The budget is set-up so that every single item that requires money during the month will be accounted for, ie: groceries, dog/cat supplies, lawyer and accountant, utilities, rent, mortgages, entertainment, gas, etc. By the end of December we will have saved $12,000 plus some stock options we have set aside that will allow for a healthy down payment, furnishings and remodel costs.
This is the budget in a nutshell…and it begins January 15…yikes! I am just doing a final review of it this morning before I print 20 copies and post it all throughout the house as a constant reminder of the goal. I will be sure to document the ups and downs of the process and the months go by.
To this, I say HAPPY SAVING!
[courtney]
