On What You Will Spend Your Money In 2016?

[Nelson]

While i was drinking my coffee this morning, i shaped a personally financial plan.
I aproximated how much I will inherit in 2016, I choosed some priorities, alocated some percentages, made some lists...etc.

How many of you have a personally financial plan for 2016? If yes, how's it looks like?

In big lines, my plan looks like this (is quite simple):

0. 2% of my Net Total Revenue (TR) in 2016 are for unexpected / unforseen/emergency expenses.
1. 47% of my NTR goes for Financial Capital Investment of my "bussines"
2. 27% of my NTR- Vacations and Trips. I'm young and single :), and is pretty important for me to experience and see new places.
3. 18% of my NTR - personnal commodities, clothes, electronics...etc
4. 6% of my TNR - just for Gifts ;) . I have a pleasure to give a drop of happiness to important persons in my life. (Christmass, Birthdays etc.)

I would like to read suggestions from you and other plans to alocate the budget .


Cheers!

[Fulcrum]

Any extra cash will be put back into the business. I've said it before and I'll say it again - I could easily spend $2-3,000,000 Monday.

Your line that budgets for vacations and trips concerns me. This is one of the things that many new owners fail to control well. Some take too many vacations and end up with poor time management resulting in lousy customer service, while others go to the other extreme and never take any time off eventually running into a wall and burning out.

[Owen]

Investing into my ventures I like to dump money into. I also got to spend money on the girlfriend (as I like to spoil her), car insurance (at least help my parents pay for it), Spotify Premium, Planet Fitness membership, and if SBF decides to have a premium membership, a premium membership at SBF.

[Freelancier]

I'm reminded of this:

In theory there is no difference between theory and practice. In practice there is.

Yogi Berra


Mrs. Freelancier and I set basic goals for the year for what we want to do with our income, but it's not target spending patterns, more like "what do you want to do with our spare cash this year?" And then we work toward making sure we have the money to do some or all of those things.

[turboguy]

Humm, What will I spend money on this year? My wife spends it all and I don't have to worry about it. Of course if I didn't have a wife I might be tempted to spend it on wild women, gambling, getting drunk, and other fun things so it is good I have her to keep me under control and spend all what little money I have. Of course since I really don't drink and don't gamble I probably would not do that anyway.

Actually one of my priorities will be rebuilding my savings and investments. We just bought a house 6 weeks ago which put a big dent into my savings. Some day I may actually decide to retire and it would be nice not to need to flip burgers in McDonalds to have enough money to eat. Probably I will work until I drop but that too could be any day. That will be my number 1 priority.

Investing back into my business will be the second biggest part of my spending. I think it is important to be investing for tomorrow and there are some areas that making some changes can have a positive impact. New product development will be an important one for me. I would also like to increase the size of our factory by about 6-8000 sq. ft. as well and at one point had targeted that for this year but now I think it might have to wait a year.

I don't think I have any plans to spend money on things that are fun however. Any trips will be business trips. Maybe next winter a short vacation might be in the works but for this year we are combining a February business trip to San Deigo with a vacation with plans to spend a little extra time in San Diego and short visits to LA, Hollywood, and Vegas.

[tallen]

Paying for my son's college tuition will likely eat up pretty much everything. Of course, we are trying to make on-going investments in our businesses, too.