I will be posting today, but it can’t go up until 11:30am PST, so be sure to check back then…it’s gonna be awesome!
Hope your day is as good as mine 🙂
Oh my gosh!!!! I totally heart rapping. I think if I had to quit being a special agent, I would make the career change to the music industry. I might be the whitest kid in the neighborhood, but don’t let that fool you. I’m a true gangster…a gangster that loves personal finance that is.
As the year comes to a close, I thought it was only appropriate to end on a good note… another PDITF rap. This is now my fourth production. You can find the first one here, the second here, third here, and here is the fourth…
[gplayer href=”http://www.punchdebtintheface.com/wp-content/uploads/2009/12/Ninja-Rapping.mp3″ ] [/gplayer]
Welcome to Punch Debt In The Face
I done did it again
Finance Rap Two…
You may know me as Ninja, some call me a Debt Hater
I’m fluent in personal finance, a true money translator
I’m a power hungry dude, a financial dictator
Don’t try to argue with me I’m the master debater.
I’m 24 years young and a pretty ambitious guy
My friends think I’m crazy, I don’t really know why.
Gonna leave a couple million for my kids when I die
Gettin’ rich is simple, you should give it a try
Don’t worry ya’ll, I’m not very smart
I’m probably better known, for my 4th grade level art
Making stick figures is how I got my start
But it’s not about talent, it’s all about my heart 🙂
The Roth IRA is where the party be
It’s got some tax advantages for you and for me
Your contributions grow exponentially
Oh, haha, that growth is tax free
Does your employer hook it up with a 401K
If the answer is yes, start putting money away
Don’t wait another minute, start contributing today
So you’ll live a happy life when you’re wrinkly and gray
Don’t be a douche bag, live with in your means
It’s time to grow up, you’re no longer sixteen.
Buy Levis over Luckies, it’s just a pair of jeans
Class is dismissed, now go make yourself some green
Drop me a line and let me know what you think. I’d love any constructive criticism. Anything in particular you would like me to rap about in future editions? Do you love rap, or does it make you wanna vomit?
If I could only use one word to describe November, it would be, bleh. Mediocre at best, at least it felt that way after last months RADICALNESS. I guess I shouldn’t be complaining ’cause I still brought home more than I spent, and when that happens, life is good. Here’s where the money went…
Salary: My take home pay from the day job. I should have only brought home about $2,700 last month, but I got paid out for the last of the overtime I worked in October. It’s gonna be depressing to watch my income drop. Oh well, in February I get a $12,000 raise! YAY!!!
Gift: Mom Ninja’s hooking it up with some money to throw at my student loan. Everyone should say nice things about Mom Ninja down in my comment box, haterz not allowed 🙂
Auto: Looking at my Auto expenses make me want to throw up. My car registration was due, so that was $220 gone. Another $180 came from one of the stupidest things I’ve ever done (car mirror vs fence = fence wins).
Dining/Groceries: Fudge! I broke my grocery/dinging budget for the first time in a REALLY long time. I have a goal to be under $250 total for food each month. Unfortunately I broke that by $26.74. I went out to eat quite a bit last month because I had been on a business trip abroad for six weeks and wanted to go out with my friends 🙂
Interest expense: Good ol’ Sallie Mae. Brought the old hag down another $1,600 last month which ain’t to shabby if ya ask me. Especially considering my minimum obligation is only $230.
Travel/Reimbursement: These were all costs/reimbursements related to my business trip to the Marshal Islands. Nothing to exciting here.
The other categories were too unimportant or self explanatory so that is why I didn’t cover them. The overall total at the bottom is the cash I had leftover after all my expenses. I ended up having $1,670, which I put in to my savings account. I’m foaming at the mouth, waiting for that raise to come so I can have even more options with my cash flow.
Is it bad that I’m not excited with over a $1,000 do-whatever-the-crap-I-want-category? Don’t answer that. Are these monthly expense reports even entertaining for you to read? I’m imagining in my head right now, all of my readers hating these updates. If that’s the case, I’ll stop 🙂 Let me know. THREE MORE DAYS TO CHRISTMAS!
* Are you wondering why I post the previous month’s expenses a couple weeks late? I use quicken to track my spending and I have to wait until the end of the billing cycle before I can download these transactions. I know I could manually add each expense as it comes, but I am entirely too lazy for that. Thanks for checking in and if you got any comments, tips, or advice I’d be more than happy to hear it. *
Muwahahaevillaughhahaha. For those of you that come here for my lame sense of humor, and not so much for the finances, prepare to be a little disappointed. I’m actually going to blog about money (well kind of) so bear with me. Do you know what a Roth IRA is? If you love finances, then you definitely do. If you don’t know anything about them, give me 5 seconds of your time to explain…
Roth IRA (noun)- an investment vehicle that will make young people filthy rich with minimal sacrifice.
Okay so now that you know what a Roth IRA is, I’m gonna share a little bit about my accounts. Last time I wrote about my Roth, I made the decision I was NOT going to max it out this year. I had $1,500 left (max contribution of $5,000) that I could have thrown at it, but decided not to for two reasons.
The first being that the markets were freakin’ me out in August. I was going to put that $1,500 in to an international mutual fund, but after a 33% gain from January to August, I was a little freaked out there was an artificial high. Stupid move on my part, as of Dec 18th, that mutual fund had gone up another 8% since. That’s a pretty awesome return considering my savings account is only paying 1.3%. I let fear determine my investing strategies, and for that I paid the price.
The second, and really the only reason, I decided to hold off on maxing out my Roth this year: I was gonna use that money to pay down my student loan instead. My loan’s interest rate at 7%, is pretty high (as far as student loans go), so I figured throwing the money there would be a good guaranteed rate of return. Like a good Ninja, I have paid down Sallie Mae $4,000 over the last four months. Although I missed the 8% growth in my mutual fund, I secured a 7% return by paying down my debt…not a bad trade off if you ask me.
Okay, so the plan was to only contribute $3,500 to my Roth this year, but guess what, SCREW THAT ‘ISH! My savings account is now $1,500 poorer. That’s right, I decided to max my Roth. I had a pretty stellar 2009, saving more money than I predicted I’d be able to, so I figured it was time to make that money work a little harder. I was 21 when I graduated college and made a commitment that I would max out my Roth every year. I can now proudly say, I have successfully done so for the last three.
I have contributed a total of $14,000 to my Roth over the years, and my current account balance is $13,500. That means I am only down $500. I started investing right before the stock market tanked, and watched my accounts plummet, but because I decided to stick to my goals and invest in a pretty scary market, I have been able to recoup virtually all that loss. I plan to be an old Ninja with a lot of money one day, and my Roth IRA is one of the best ways to make that happen.
If you are under 40 years old and haven’t thought about contributing to a Roth IRA, you NEED to explore the option. Even with two pretty crappy stock market crashes, my specific international mutual fund is up 5% over the last 10 years. There is no guarantee the market will continue to rise, but I couldn’t be called a Ninja if I wasn’t willing to take risks. It’s like Forest Gump once said “Life is like a box of mutual funds, ya never know what you’re gonna get'”. Wait, that’s not right.
Do you readers contribute to your Roth IRA’s every year? Do you let the “fear” of the market play in to your decision making? Is your account balance above or below the total contributions you’ve put in to it? If you’re from Canada, do you have a Roth IRA equivalent?
I got out of my 2007 Toyota Scion TC, walked in to my apartment, made a call on my iPhone, checked my email on my Macbook, opened up the box to my brand new Digital SLR camera, and then thought to myself “Holy crap, am I a hypocrite?” How can I possibly preach frugality, when I own some rather expensive items? I’m sitting here typing this, on my 22″ external monitor, desperately trying to figure out a way to reconcile my possessions with my frugality.
And then it hit me… it’s because I’m frugal that I can own these nice things! We get caught up in the mentality that, to be truly frugal, one must save every dollar they earn and avoid nice things at all cost. Wait, that’s not what frugality is about, at least for me it’s not. For me, frugality is a commitment to manage money wisely, and have fun doing it.
I can afford to spend more money in some areas because I minimize costs in other areas. I keep a tight budget on expenses that most people (not you) tend to spend more frivolously on. I don’t drink alcohol, so that automatically saves me $20-$200 a month less than most other people my age. I still wear clothes that I’ve had since college. I try to eat out no more than once a week. I don’t go clubbin (Girl Ninja would not approve). And I only shower once a week to save water….just kidding….kind of.
Sure I may own some Apple products, drive a car with less than 30K miles, and have two computer monitors, but the beauty of frugality is that it’s expressed differently for each person. It’s about living within your means, not avoiding luxuries.
Indications you may not be frugal and you are just a straight up reckless spender…
1) You put “dining out” expenses on a growing credit card balance
2) You buy things you don’t want or need, simply because it was on sale.
3) You own multiple DVDs you have never taken out of their wrapping (I know some of you are guilty of this).
4) Your name starts with a “C” and rhymes with bongress.
We all tend to make assumptions about others based off our observations. Heck, I’m guilty of it, but I hope a few nice possessions wont disqualify me from joining Club Frugal. What kind of frugal dude/dudette are you? Are you the I’m-so-cheap-I-won’t-have-any-fun frugal? The I-like-to-monitor-my-spending frugal? Or the I’m-not-really-frugal-but-I-like-to-pretend-that-I-am person?
When I first started PDITF, I made the decision to go rogue and write under the alias Ninja. I know you may have actually thought my first name was Debt and my last name was Ninja, but it’s not, sorry to break it to ya. I may be anonymous to you, but for a select few, my true identity has been revealed. Being a quasi-anonymous blogger is the second most awkward thing in the world, platypuses (platypi?) being the first.
Some people know who I am out of sheer stupidity on my part. I frequently email back and forth with various PF bloggers. I use Mac mail on my computer so I receive my personal email and blog email all in the mail client. Every once in a while I will accidentally send a PF related email out to someone from my personal email. Whoops. To the three PF bloggers that know my true identity, a warning: I will hunt you down and call you a doo-doo face if you share my information with others.
My family knows I blog (Hi family!) and a few of my close friends. Outside of those closest to me, I try to keep my nerdy side on the down-low. It doesn’t bother me if strangers/best friends/family know my financial DNA, but I get really uncomfortable when casual acquaintances discover my hidden hobby.
There is something weird to me about friends of friends reading my net worth updates and my spending habits. The other night, I was hanging out at a close friends house (who is aware of my blog) when he referenced an article I wrote to one of his friends (who I have only met once before). The mention in and of it self would not have been that awkward. It got weird when they decided to hop on a nearby laptop and scour my blog in my presence. I mean come on people, I’m standing right here, do you really need to read it now? This situation was uncomforatble for two reasons….
1) Everyone in the room was pretty much obligated to pretend my blog was really cool. None of them would be bold enough to tell me they thought my blog was lame. It would be like if an acquaintance told me they reached the highest level in World of Warcraft. I would say “No way that’s awesome man!”, but in my head I would be thinking “Maybe it’s time to get a girlfriend dude”. Personal finance is not the sexiest of topics, and contrary to what we all may think, blogging is still perceived as “dorky” by many. There were 5 people in the room that all gave me compliments after browsing PDITF, three of which I’m convinced did so just to be nice. Ya hear that casual friends, I know your web of lies!
2) Even more awkward than receiving half-hearted blog compliments, knowing people that don’t know me very well, now suddenly know a lot more about me (was that wording confusing?). I thought having a positive net worth would be the most aweseomest thing in the world, but I’m quickly learning it’s not all it’s cracked up to be. In fact, I almost like it less. Now that I am hovering around a NW of $30K, I find myself even more self-conscious than when I had a -$30K worth two years ago. I had no problem sharing my negative net worth with anyone that wanted to know about it, but when it comes to positive territories I clam up because I fear people will think I’m bragging. Sure enough, one of the 5 casual friends that browsed PDITF, saw my NW posted in the top left corner. He then said “You’re net worth is $27K?!” I didn’t really know what to say to that. I think all I managed to get out was “Uh, yeah.” I suddenly felt like that persons perception of me was changed. It probably wasn’t, but it still felt that way.
I made the choice to blog quasi-anonymously and I’m glad I did, but it does have some downfalls. Do any of you readers think blogging anonymously is lame? Do you fellow anonymous bloggers, share your website with any family of friends?