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I Had Such Big Plans

February 1st, 2013 at 07:59 am

So earlier in the week I was looking at my Calendar and I noticed that February 1st happened to fall on Friday. Awesome! Because I had in the back of my mind this niggling thought that I should create a blog and what better time do accomplish that other than the first day of the month on a Friday --- which is typically the day when I have a good amount of free time.

Then Friday morning hit and my mind was a complete blank.

But here I am, and I had promised myself I would get this thing going, so let's all just push our way through.

My best piece of news for the week was that our family finished up the month of January $546.42 under budget. This was in categories such as Groceries, Entertainment, Clothing etc etc. Much discussion abounded amongst the household what to do with our windfall and the final decision was...

$100 to Emergency Savings
$100 to my Retirement Fund (separate from DH's 401k)
$300 to Our Big Adventure (vacations) and Gift Giving Savings Account

and the final $46.42 I gave to my older children to put onto their Student Loans. This was because they both spent a good amount of time here in January and I told them that if they would ~try~ not to eat me out of house and home and run us over budget in groceries I would split the "savings" with them.

So in other activity, I was recently watching a documentary from ESPN 30 for 30 titled "Broke." It has to deal with the enormous number of Professional athletes (over 70%) who find themselves bankrupt or in financial difficulties shortly after their careers ended.

I admit, I was fascinated as to how this could happen. These people make millions and millions of dollars and then it just ..... evaporates on them. My fascination is fueled a bit just by the sheer human nature of being attracted to other people's drama and failure as a means to make yourself feel better. I mean, sure I've made mistakes in my life but LOOK AT THEM, THEY'VE MADE MUCH BIGGER ONES!!! It is awfully judgmental of me.

Stepping back though I looked through that list of athletes and I realized they were all so young when they made their money and for the most part they went from relative poverty or at best middle class to enormous wealth. I tried to imagine what the results would be if somebody stuck a couple of million dollars into one of my 20-something children's bank account.

I have to tell you, it'd likely be a disaster. Just as it would have been a disaster if somebody had given me so much money in those early years of adulthood.

We talk much in this country about the lack of fiscal education. I think "Broke" shows this lack of such education at the most extreme level. It also shows our immaturity and failures personally (me included) and as a society. Most of us when we are young make financial mistakes, many of us (often me too) keep making them long after we are old enough to know better.

These athletes make them with lots of zeroes added onto the end as Dave Ramsey would say.

That's about all I can think of for now. I will try to get back in a couple of days to continue the blog. I do highly recommend the ESPN documentary Broke if you get the chance to see it.

9 Responses to “I Had Such Big Plans”

  1. CB in the City Says:

    Welcome! I think if you read my blog that will attest to the fact that my mind is often blank! Still, stuff comes out...

    "Broke" sounds interesting. Do you think Netflix has it?

  2. laura Says:

    Welcome! My mind is often muddled, read my posts! Smile
    I like the incentive of splitting budget surpluses with older kids. In our family, we're starting to prepare for our first big vacation in two years, so everyone is actively involved in planning activities at little to no cost so we can "feed the pig" (the piggy bank that sits on our counter in the kitchen that everyone throws spare change into!)

    Sounds like a very interesting documentary!

  3. Carolina Girl Says:

    Welcome and wonderful job being under budget! I look forward to reading your blog. Have a great weekend!!!

  4. ceejay74 Says:

    Welcome! My first post was much less interesting than this one, so you're already ahead. Wink

  5. Ima saver Says:

    Welcome, glad you have joined us!

  6. JulieA Says:

    Well thank you for the welcome everybody.

    Broke is scheduled to air on ESPN2 this Sunday and next Sunday if you receive that cable channel. It would be a rather depressing to watch it right after the Superbowl this weekend though.

    I don't have Netflix so I really can't look it up on there. It is on Amazon Video Streaming. It is Episode 1 of the Second Season and currently costs $1.99. Season 1 Episodes have all been put into free streaming on Amazon Prime, so I imagine Season 2 will eventually be a part of Free Amazon streaming also.

  7. Homebody Says:

    Welcome. I saw the show advertised and now I think I will set it up to DVR.

  8. patientsaver.com Says:

    It shows up on netflix as not yet available, but you can "save" it, i guess for a time when it does become available. It does sound interesting. I'm sure there are lessons that can be learned/

  9. freeme journey Says:

    Hi welcome - it so great when someone joins in and we get to know you from the beginning of your journey. Great first entry - have fun and just go for it Smile

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