Expenses

Apart from the issues I had with the last upgrade of Quicken, I really find this tool useful.  It's the end of the year once again and I've been running Quicken reports like crazy to see how I did with my expenses in 2007.  Here's what I've learned so far...

I've been very fortunate to not have any significant unplanned auto expenses this year.  Aside from needing to replace two tires on the Acura, I've been able to keep to my normal oil change and car tag expenses.  I've gone two years now without a major auto expense.

Child birth expenses were about the same this year as last year.  Overall, however, because of our quality health insurance from work, the affordability factor is pretty high for having children.  This is one expense, however, that we won't be incurring again.

Fuel charges were about $200 more this year due to higher gas prices and a couple long trips we took.  I'm paying about $2,000/year in fuel which equates to about $166/month.  There is definitely room for improvement here.

Our movie expense category was cut more than 60% thanks to NetFlix.  No more trips to Blockbuster.  This was a great idea Dayna had.  We're only paying about nine bucks a month and we're still watching as many movies as we have in the past.

I've managed to keep my Starbucks habit to about $78 a year.  I'm still working to eliminate this habit though.

Home improvement costs were cut in half this year since I didn't have much time for house projects because of my time demands from the kids.

These are the things that stand out this year.  Overall, it's been a very good year considering all the chaos introduced with another child and everything that goes along with it.

College Bowl Season

The College Bowl Season kicks off tomorrow.  I've tweaked the formula a bit this year for my College Bowl Pickem entries.  I'm now factoring in Offensive 3rd Down Conversion Rates.  So, here is the revised formula for this year...

Team A Offensive Rushing Rank versus Team B Defensive Rushing Rank ( weight = 35% )

Team A Offensive Passing Rank versus Team B Defensive Passing Rank ( weight = 35% )

Team A Turnover Margin Rank versus Team B Turnover Margin Rank ( weight = 15% )

Team A Offensive Third-down Conversion Rank versus Team B Offensive Third-down Conversion Rank ( weight = 15% )

Scott's College Bowl Pickem Formula and Picks

Good luck this year and enjoy the games !!!

Financial Industry Regulatory Authority

I stumbled across a really good site this evening.  Just thought I'd pass the info on to you in the event you may find something useful here.

Financial Industry Regulatory Authority

Investigate Brokers

Mutual Fund Expense Analyzer

I hate fees!

I primarily only use one credit card.  I've used the same State Farm Bank credit card for 20 years now.  I pay off my balance each month and always avoid late fees and finance charges.

I have one other credit card that serves as a backup.  I rarely use it, but several weeks ago I used it at a car wash that cost me eight bucks.  That eight dollars was the only charge I had on the card for the month.  Since that card is not frequently on my mind, I was about 3 days late with my payment.  I then find out that US Bank charged me a $23 late fee!!!

That small car wash cost me $31 !!!

This is precisely what so frequently happens to people.  We look back and ask ourselves "where did all the money go?".  Being diligent in the smallest details of our finances can save us a lot heartache and money.

At this time, banks are severely escalating their fee schedules.  They are doing this in an attempt to recoup the money lost in the mortgage crisis.  This is a perfect example how EVERYONE pays the price when a few cannot meet their obligations.

Fight back and avoid fees by...

Not using your ATM card

Don't have credit card late fees

Keep minimum amount in checking/savings so as to avoid service fees

2008 Goals

2007 was a good finance year.  I fell short of only 1 goal.  With Parker's birth and Dayna's Student Loan out of the way, I look forward to directing some of my 2008 funds into additional investments.  I make goals every year, but I also have a five year plan in place.  I'm currently beginning year three of the five year cycle.  The next five year cycle basically begins when Morgan starts kindergarten.  The five year plans will fall as follows...2006 - 2010, 2011 - 2015, etc.

2007 Goals ( Save/Invest $22,000 -- [Actual] = $18,000 )...

Fund 401K ( $4,000 ) -- [ Actual = $4,000 ]

Achieve 401K Company Match ( $4,000 ) -- [ Actual = $4,000 ]

Fund Roth IRA ( $4,000 ) -- [ Actual = $4,000 ]

Payoff Dayna's Student Loan ( $4,000 )

Purchase Vanguard PrimeCap Core Fund ( $10,000 ) -- [ Actual = $6,000 ]

Parker's Birth ( $2,000 )

Dividends ( $5,000 ) -- [ Actual = $7,200 ]

2008 Goals ( Save/Invest $33,000 )...

Fund 401K ( $4,000 )

Achieve 401K Company Match ( $4,000 )

Fund Roth IRA ( $5,000 )

Purchase Vanguard PrimeCap Core Fund ( $10,000 )

Purchase TBD New Fund ( $10,000 )

Dividends ( $10,000 )

There is so little kindness in the world today.

Oh, I'm not talking about the obligatory pink ribbon corporate campaign in the world.  I would not put that in the category of kindness and grace.  That falls more into the "we're the corporate world and we are going to dupe the general public into pumping money into 'research' and line executive's pockets with a huge percent of the proceeds" category.

I pray that Dayna and I can instill a true loving kindness in our children.  My work just wears on me day in and day out as I have to be subjected to so many others that have bought into the corporate machine that is America.  There is so little concern for having a reasonable and "human" conversation about things.  So much of the corporate world is just not a healthy life-style.

The most important job I have that inspires me each day is watching my children develop and having the opportunity to be part of their little lives for such a short time on this earth.  I have to work really hard to shut everything else out and not allow things of this world to detract from the quality of time I can share with my family.