As our regular readers know, we are continually working on ways to maximize our revenues and minimize our expenditures. It turns out that education is an expensive habit to feed. With both of us in graduate school, and only one of us working, that leaves us with considerable challenges to making ends meet.
We got together this evening and discussed the challenges and our various opinions, laid out possible solutions, and developed an action plan oriented towards achieving two main goals by the end of the year. We realize that these actions won’t entirely make up for the education deficit (or is it a surplus), but it is a step in the right direction.
Goal: Convert all incidental sources of funding, i.e. funds that are available for conversion, and convert them into high yield sources of monthly income.
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Action Item |
Due Date |
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1) Miel will return final gift cards, and write check for joint account. |
10/15/06 |
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2) Miel will get the credit from Banana Republic dresses. |
12/1/06 |
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3) Miel will give James a check for tax return & expense report money. |
10/15/06 |
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4) James will cash out matured savings bonds. |
10/15/06 |
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5) James will follow up on the closure of available DRIP accounts. |
11/15/06 |
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6) James will consolidate all available funds in our joint stock account. |
12/15/06 |
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7) Purchase high yielding stock, at 10% or more; jointly select. |
12/25/06 |
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Action Item |
Due Date |
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1) James will economize by $50 monthly towards the purchase of high yield stock. |
1/1/07 |
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2) Miel will economize by $50 monthly towards the purchase of high yield stock. |
1/1/07 |
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3) James will move stock money into prosper.com; expected yield of 18% after defaults, or an annual yield of $12,000/year. |
10/25/06 |
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4) James & Miel will develop a prosper lending plan, to determine set parameters to for lending. |
10/15/06 |
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5) James will no longer talk about buying worthless land in Texas. |
Effective immediately. |
All tasks to be finished by January 1, 2007
Stay tuned for updates.
Miel&James
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