“The three great essentials to achieve anything worthwhile are, first, hard work; second, stick-to-itiveness; third, common sense.” – Thomas A. Edison

Stick-to-itiveness Struggle: Setting up a Financial System

Katinka is too loud and clear today for my taste.

“This is all a waste of time and you shall fail”.

“Do people really want to read about how you’re managing your finances? Oh look at me, I entered a number in a spreadsheet!!” – Eye roll.

The joke is on her though, even if I only write this one line, then it is a tiny step forward. I can see her wrinkling her cute button nose and shrugging her shoulder in a “Whatever!” manner.

Most pressing right now is establishing a solid financial system. Divorce is looming around the corner.

1. Learn the current status
   • Current account balances
   • Mortage & utilities
   • Recurrent costs (subscriptions)
   • Investments
   • Insurance payments
   • Personal spending including food and clothing
   • Expected monthly income
   • Apartment market value
2. Comb-through iteration:
   • Can any recurrent costs be reduced or eliminated?
3. Setup a transaction table.
   • List the flow of money among accounts and the outside world.
4. Check insurance status – are we reasonably insured?
   • List current insurances.
   • Contact for current conditions.
   • Check if the premium can be reduced.
5. Divide income into reasonable budgets for:
   • Mortage & utilities
   • Recurrent costs (subscriptions)
   • Emergency funds for:
     • Income failure (3 – 6 months)
     • Large/expensive household items or appliances
     • Mobility repairs (car/bike)
     • Apartment repairs
   • Saving funds for:
     • Vacation(s)
     • Replacing household items/furniture
     • Children
   • Investments
   • Retirement
   • Insurance payments
   • Personal Bugets
     • Food
     • Clothing
     • Fun
6. Future projection – where will the following be in 5 years, 10 years and 20 years:
   • Mortgage
   • Apartment value
   • Investments
   • Retirement plans
7. Generate additional sources of income

I am still establishing tiny habits for item 1. The rest will come.

There you go Katinka. I wrote something and put a vote for a stick-to-itive me. I counter your eye roll with a silly toungue sticking out.