O’Coileain Budget Released

14Feb/110

O’Coileain Budget Released

This year, we are tightening the belt. Making some tough choices. You will see that our budget considers all aspects of our spending and income. Nothing is off the table.

We will earn 100% of all income.

We will only spend 50% more than we take in. This is a huge reduction from our overage last year - and represents our obvious willingness to work towards reducing our deficit.

We will cut 15% from our Starbuck's budget, 10% from our Magazine Subscription budget. Likewise, I will begin rolling my own cigarettes again. This will account for some couple hundred dollars in savings alone.

We will also invest in the future prosperity of our family through investing 2% of our budget after expenses into investments which will yield a guaranteed 4% (not counting inflation).

Investing at this rate shows we are serious about the future. The dollars we invest will cost us 29% to borrow. But we must continue to invest. It would be irresponsible not to.

We look forward to working with the government on this, as we will have to defer all tax burdens until the year 2029. We are confident the IRS will realize we are doing what we can to aggressively do things now, so as we will be in a position to pay the tax debts at some point in the future.

Here's to thanking them in advance for their understanding.

UPDATE

Middle child has agreed (tentatively) to a freeze in discretionary Lego spending. As in, he has agreed to us not spending more than we spent last year on Legos. Two eldest girls have agreed to peg their cell phone budget to cell phone bill. Not one cent more.

UPDATE x2

We will continue giving to all charitable causes with a slight adjustment for inflation. This includes all monies slated for the Underwater Basket Weaver's International fund, as well as the Great Snail Migration Marathon of Saipan. It would be heartless and counter-productive to pull any funding from them.