Raven’s Range
Blather around a virtual range

This post is part of a series. Part 1 is here.

So, now I have my modest list, and my next job is to sit down and figure out roughly how much that all costs. In my case it’s both about earning enough to meet that amount, because I really am not just now, and then about earning enough so that if I stopped working, the interest on said nest egg would maintain my lifestyle.

You need to figure out how much you have to spend each month on your basics, and then how much you’d like to have left over for the other kind of essentials…then add on a buffer of around 25% for life accidents. Keep that money around in liquid form, i.e. a bank account. Anything extra, you either save it, or pay off your debts with it, because it’s silly to save money in a 5% APR account when you have $10,000 in credit card debt costing you 23% a year.

After that, the trick is to keep careful track of your spending to see if what you figured actually bears any resemblance to reality (and if you are organized enough, refer to your past records too). Over time, a realistic picture will emerge and then you’re cooking with fire.

About 90% of my needs revolve around having time. One of the ways in which Corporate America fails dismally is in its refusal to give workers enough time. I never had a job in the UK with less than four weeks’ vacation as I started, and five was common. People who can relax work better.

If you love your work enough to do it all the time, great. That’s part of your choices and how it should be (i.e. work should be something you enjoy). But one thing you might figure out from making your life list is, “Hey! I’m working 60 hours a week and I only need to work 30 hours a week to do everything I need!”

Another slant on this is as follows: There are two ways to have more money. One is to make more; the other is to spend less.

Tomorrow, I’ll list 101 ideas for saving money so that you have to work less, or if you work more then at least you’re putting it into savings. It’s just a resource page, a nice easy thing to read on a Friday. I hope you enjoyed this article series!

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