“Let the Records Reflect”

It’s probably no great surprise – given his slightly more advanced age – that Lee found that fully HALF his spending (assuming that April was a typical month) is on the two great American excesses: drugs (of the legal kind) and food (eating out) … now, I’m really curious as to (a) what, if anything Lee will do about it and, (b) what the other MITs found … honestly, I can say that I am already surprised, and this is only the first post!

Thanks for sharing so candidly, Lee

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I once heard this judge say “Let The Records Reflect” and then indicated what he wanted to be in the official records.  I thought to myself  “that was kinda silly”, especially since the ones that needed to officially know it were setting just a few feet away.  Then it dawned on me that once it’s in the official records there will be no denial that it was said.  Which is how I feel about our Month of April assignment.  Recording everything I spent puts it in writing and I can’t deny it actually happened.

I found a spiral “Black n’ Red” ruled notebook I had set aside to record “brilliant ideas” that came to my mind (needless to say the notebook was pretty much empty) so I carried it with everywhere I went  during the month of April.  I recorded it all large and small, bills that came in the mail on a regular basis and last minute cravings.  I was quite surprised that it took a lot of pages to record it all.

I then divided it up into those things I really needed and those I didn’t.  My biggest surprise was the following:

(1).  Even with insurance we spend a lot on Prescription Drugs, just our c0-pay was nearly a quarter of our expenses for the month and I don’t see that ever changing for the better as a matter of fact it might even get worse depending on our health.

(2). My wife and I eat out a lot and I make a regular stop to the coffee shop nearly every morning. I was surprised to discover that this was another quarter of our monthly expenses.

WHAT I ENJOY THE MOST ABOUT BEING A PART OF THE 7MILLIONAIRES IN TRAINING are the really great ideas that cause me to think about what I’m presently doing and the recommendations from others concerning how I can make necessary changes that will impact my future

I have to admit that from time to time I don’t have a clue what some of the folks are talking about when they are describing their investments but that’s when I “google” (and I google a lot).

I checked out the “10-10-10” and “10-1-1-1” idea and I’m looking forward to taking some time now and trying to see how that works.