Cutting The Fat

In order to make more, you really need to spend less. That is one thing I have become wise beyond my years on. I used to constantly want that raise and constantly think well if I just made six figures I would be doing great!

Well like with everything in life I have found, you make a goal, you reach it, and if your ambitious that just isn't good enough for you. You want to be better. I don't think this is greed, but rather self reflection and a drive to want to be the best man or woman you can be.

For me personally I just feel I won't always be as fortunate as I am right now. I fear I will not always have an above average income and job security. So ultimately my definition of financial free and ultimate end goal is to be able to semi-retire if I would like. Full retirement would be to boring for a guy in his 30's don't ya think?

So enough goal talk! What have I done so far? Cut out of the fat of course.

Simmered Down The Social Life (homebody)
For one thing I know it sounds horrible, but I cut out a lot of friends. Let's face it, we all grow up at different rates in our lives and timing is everything. If you are around people that aren't on the same level as you and that aren't passionate about bettering themselves. Odds are they are holding you back, so I figure take them out of the phone book! If they call me no worries they are my friend, but I stay home now. Ultimately the older I get, the more time I like to spend alone reading or reflecting on myself. And also I know myself better everyday I spend on this planet. And I know that I am easily influenced by negativity. If someone is negative I have cut them, you should do the same! I thrive off positivity and try to spread it to others.

Pay Off That Car!
I have increased my payment on my car from around $300 to $700 at this rate I will pay off my car in 1 year. April to be exact, but Im gonna try to use some of my bonus's to help as well. (~$8,000 owed).

401k
I have increased my 401k from the 3% to 6% immediately and have automatically set it up to automatically increase on August first each year by 2% until I reach 10%. I also re-balanced my 401k to go into a mutual fund that will maximize my return. It is a less diverse setup, but ultimately because of my age this will probably end up doing better for me for now.

DODFX Mutual Fund
I put $2500 into DODFX a high risk high yield (20% past few years) mutual fund. I plan to get this to $5000 over the next year or so and watch it grow. (I plan to invest my ESPP shares from 1 year ago on November 07 to avoid capital gains).

Saving More
Increased normal savings from $300 per check to $350 per check or $8400 (from $7200) by lowering my cox bill (~$40) and canceling my personal cellular phone(~$90). Note: I still have a cell phone, but work pays for it.


Lastly I signed up for networthiq.com here is my chart:

AZKid