Wednesday, 9 January 2019

I Nerded-Out Again

So, I was curious and so I did another thought experiment to see when my Grand Savings Plan would be done . . . the results were interesting. 

Okay, so I know that it is bad enough to set out my budget for each and every payperiod in a calendar year. 

What I did was then do the same for the next three years as well . . . just to see how things would turn out.

It’s really not that hard, since I make sure to balance my budgets each and every payperiod, all I have to do is duplicate the budgeter spreadsheet and plunk in new numbers.

So, the interesting thing is that if all goes according to plan (insert hearty laughter here) I will be done my Grand Savings Plan by June 7, 2022. 

(Just in time for my 52nd birthday on the 11th) 

Currently my other spreadsheet that tracks my progress on The Grand Savings Plan and calculates my end date by (if I average 1% per payday) has it at June 22, 2022.

I was just curious to know how things would turn out, with more realistic numbers. There is always a chance that I can do better (or worse) if I put my mind to it. (Mental note: focus on doing better.)

Again, a thousand things can and most likely will go wrong between now and then. The further you go into the future, the less accurate budgets become. 

The thing to remember is that these budgets are an estimation, and in my case also motivation. 

I get to see what could be, what my savings could amount to, if I remain a good boy and stick to my plan.

This whole process has been a learning and growing process. Some of the things that I have had to learn along the way are: 

1. Get a handle on my spending (as in stop wild spending). 
2. Make a budget (and stick to it)
3. Set a balanced budget every time (as in: Income = Expenses)
4. Make a long-term financial plan (to get out of debt)
5. Pay off debts one by one (starting from the smallest to the largest)
6. Eliminate monthly bills (as much as possible)
7. Remain debt free
8. Put 80 – 90% of my take home pay into savings.

I keep myself on track by looking to the future, and what could be, if I stick it out just a little bit longer. 

Three and a half years is not all that long a period of time to keep doing what I am doing. I have done this for longer, so I am already over half way done.

As always: Keep your head up, your attitude positive, and keep moving forward!

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