Where Did Your Money Go? $100 A Day Burn Rate.

What does your budget look like? 100K+ Spend Just to Live in the last 3 years. Not until you add things up, you have gone this far.

A post a day gets the bills paid. (Just kidding that would be an ideal goal)

Tonight, we’re going to talk a bit about money. (Money is an undervalued topic that we don’t often share enough in our daily lives)

If you don’t talk about it, you ain’t getting it.

As we know, how far you can go is the sum of the 5 closest people you spend the most time with. (And how often do you talk about money or how to make money?)

Chances are it is slimmer than thick. (that is the information passed down to us had it structured this way) If it wasn’t for the internet, I’m sure we would still be on that path of keeping money topic of a low profile until you make you.

Since we earn, spend, save, think, read, and even study the many things that we do with it.

I’m not here to tell you if it’s a piece of paper or not but the things that you can buy with it matter.

If you add up each $ you have spent since birth.

Most of us most likely spend over $1 Million already or soon.

And if you’re young, you have an unfair advantage, just remember to use your time wisely.

My bills look like this per month. (similar for the past 3 years)

(Fix expenses) (already trimmed down a lot) $2,775, I mean that’s not a lot if you compare it to the rent of some places. (but still we got a life to live)

Rent: $1500

Car Insurance: $150

Electricity: $100

Gas: $25

Internet: $50

Cellphone: $50

Transportation: $100

Food: $500

Home Necessity: $100

Miscellaneous: $200

Future near-term obligations to come.

We often hear or the money guru talk about saving your emergency fund first(3–6 months worth of burn rate). But they never tell you how you should save up your emergency funds. (View it as “I still have x amount of life left) (emergency fund can be a topic of its own for future posts)

We all have bills to pay.

I let my wife take control of the money and give her suggestions on where she should look for investment. She is conservative and doesn’t like to take unnecessary risks. Since she is a full-time stay-at-home mom, I like her to have some passive income and a way to invest just in case.

We have been saving a ton which is why I can be a stay-at-home dad soon. We have short-term funds built up for months and a long-term emergency fund built for years. Yet, things will still be challenging.

Since inflation is high and interest rates remain elevated, with 3 Month CD(certificate of deposit account) at 5%+.

For the past 3 Months, we put or she put $15,000 on a CD and earned $750 in interest. (that’s $250 a month, if we have 200K at 5%(3.3K per month) we can sustain without doing much) (reminder the rate will not stay there forever)

It’s one thing to earn, another thing to save, and investing is a total beast of its own.

This will open a new pathway of posts that I’ll be focusing on going forward. (a post a week most likely)

Thank You for Reading.

The one that encourages me to write about what I want to write about or write about something else.

Ashley | Alessio Michesi | Jijo George | David J.H. | Josh Hinton

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