My Financial Goals for 2016

As we get ready to begin a new year, it is time to look at where we have been and to where we want to go.  It will take a few weeks to get all the information I need to report on where I've been, though I have a pretty good idea now.  However, I want to share these financial goals with you.

1.  Continue my Loyal3 Lunch portfolio, adding an average of $20 per week, or $1000 over the year.  More would be better, but a lady has to live a little, right?

2.  Devise a budget and work with my husband to stick with it.  We've never done this in a formal sense and despite the fact that we have limited some of our large expenditures, it seems that money is slipping through our fingers rather than going to meet long-term goals.  

3.  Unless we end up needing to buy a car this year; do not take any money from savings; live on current income.  We were able to do that this year, except for tuition.  However, we expect to be paying about the same amount for tuition from now until we retire.  When my college girl graduates, her sister will start Catholic high school (unless something unlikely happens).  She will graduate from high school (and start college) about the time my husband retires.  In short, tuition needs to be a regular feature in my budget, not an extraordinary expense drawn from savings.  

4.  Add $300/month to our Prosper or Lending Club accounts as savings for another car.  We have enough money in the bank for our next car and should we need to use it, we will stop investing in these accounts to replenish our savings. 

5.  Continue our 401K savings at the current level.  Maybe next year we can increase them, but right now, holding steady is about the best we can hope for.

6  Add $100 per month to each of our Roth IRA's.  This will be a challenge.  

7.  Renovate my den.  I'm expecting about another $1500 from my dad's estate.  I want to pull out some paneling, put up sheet rock, and paint.  If there is enough money, I want new flooring.  

8.  A second honeymoon for me and my husband.  My youngest is going on a Girl Scout trip this summer, and since she won't be home, we'd like to leave the big ones and go off on our own for a week.  

9.  Earn at least $50 per month from freelance writing.  I currently have a client and I'm going to try to pick up some more work.

What are your financial goals for the next year?

Loyal3 Lunch: Two Weeks in One Post

How many lunches?

If you haven't been following this series, I'm trying to break my habit of eating out at lunch for no good reason.  Each day I bring my lunch gives me $5.00 to invest in stock with Loyal3, an online commission-free broker.  This post is to report on Christmas week and New Year's week.  Christmas week I worked three days and did not buy lunch at all.  New Year's week I worked three days and bought lunch once.

Which Stock?

Christmas week I invested my $15.00 in Kohls and got .3043 shares.  New Year's week I invested $10.00 in VF Corporation but the transaction has not been completed.  

Am I making money?

I have invested $155.00 dollars, and the current value is $153.06.

You can see my whole Loyal3 Lunch portfolio by clinking the link at the top of the page.

Year End Comments: 

Little bad habits can end up costing big money.  As I said when I started this series, most of my lunches "out" were going down to the mediocre lunch counter in my office building.  Getting lunch there is fast and convenient, and it doesn't taste bad.  On the other hand, dropping $10.00 per day isn't unusual.  Giving up that lunch means taking a few minutes in the morning to grab leftovers from the fridge or remembering to ask my husband, who does the grocery shopping, to pick up Lean Cuisine.  

Do you have a bad financial habit you need to break?  Would directing a certain sum of money toward a goal you have (whether that goal is a stock portfolio, a Coach bag or a trip to somewhere fun) help you break that habit?  

Kickfurther Merchant of the Week: ProjectorTeam, Inc.

Today, I have the pleasure of interviewing Ed Goldman "chief cook and bottle washer" of ProjectorTeam, Inc., my Kickfurther vendor of the week.  ProjectorTeam Inc. specializes in assisting the end user in determining the correct projector and accessories for their situation. Whether it is for the classroom, corporate setting or conference center, ProjectorTeam will develop a program that not only promises optimal quality and price for the specific situation but also guarantees that the projectors will meet the customer's needs. Kickfurther, if you are new to this blog, is a company with which I invest.  It finances inventory for businesses  by purchasing it from them and then returning it to the business for the business to sell on consignment.  As the inventory is sold to customers, businesses repay Kickfurther investors.  

Q:  So, how did you get started in the projection/A.V business? Are you a computer guy or did you come up in the age of filmstrips and reel-to-reel movies (yes, I'm dating myself)?

Ed:  Fourteen years ago I was hired by a company to run the sales department as the National Sales Manager. They were a projector company and when I was hired I had no idea what a projector was. I was 45 at the time. I am a sales guy with expertise in telesales and telemarketing and I was fairly computer literate at the time. My focus was to build a powerful inside sales team, and of course, that meant I had to learn the projector business--the products that were available, the needs they filled and how to put the right projector in the right customer's hands.  

The company remained strong for five years but then the owner made some horrible mistakes and went bankrupt. I was hired by another company as a salesman, and though I was the top producer in the company for five years, no one else could sell and that company went bankrupt as well.  At at 54 years old, my dilemma was whether to continue on that path or take the risk of going into business for myself.  Five years later here I am running a million dollar company being the chief cook and bottle washer.

Q:  Looking at your website, it looks like you are a consultant as much as a salesman. What is the difference between buying a projector from you and buying one from my local big-box retailer?

Ed:  You are absolutely correct. Consulting is a huge part of what I do.   The majority of people to whom I speak are neophytes and really don’t understand projectors. The big box stores like Frye’s Electronics or Best Buy cater to the consumer market, particularly home theater which is a cut-throat business. I focus on the business community, churches, government and education, where CONSULTING is what wins orders.  My customers get my expertise to find them the best product at the best price. A box store has maybe 8 sku’s (unique products);  I carry over 1000 sku’s in projectors alone and can put together a whole package for a customer within a budget. Sales people at the box stores really don’t even know the terminology to discuss the items. 80% of the projector equipment sold in big box stores is not right product for the customer who buys it.

Q:  Do you work nationwide, or just in certain geographic areas?

Ed:  ProjectorTeam, Inc. sells nationwide and overseas as well. We are based in Huntington Beach, California. 

Q:  Anything else you'd like to tell us about your business?

Ed:  My business has grown on average of 20% per year with only me selling. 2016 will be our breakout year.

Q: Why is that?

Ed: With additional marketing efforts and the implementation of Search Engine Optimization we will have more eyeballs coming to the site and I am more competitive. I anticipate selling well over 500 additional projectors in 2016.

Q: How did you first hear about Kickfurther? 

A: I was actually contacted by a sales representative for the company and thought the opportunity was interesting and started looking into it.

Q:  You are now on your second Kickfuther offer. How does Kickfurther compare to other financing methods you have used?

Ed:  Kickfurther is a different platform. Getting unsecured financing today is almost impossible and takes a long time. I have credit lines but I like being able to use this capital to engage manufacturers to commit to better pricing for me .

Q:  So despite the fact that backers like me earned a 6% return on our money in less than three months with your first offer, and will hopefully earn  9% in six and a half months on your second offer, you still came out ahead? 

Ed:  Yes, absolutely--if the first offer hadn't been helpful to me, I would not have come back for a second!

Q:  Would you recommend Kickfurther to other business owners?

Ed:  Absolutely it is a great way for new businesses to drive capital and for an established business to fund opportunities in a relatively short amount of time.

Q: Obviously you are using Kickfurther as a business owner; have you tried it as an investor? If so,what is your impression so far? If not, can you see yourself doing so in the near future, or would you recommend it to friends?

Ed:   I have not invested in others. I use every dollar to thrust the growth of my company. I would however recommend it to friends who are looking to invest smaller amounts.

Q:  Sounds like a businessman to me!  I once read that the only way to really make money in this world is to invest in businesses--either your own or someone else's.  So far, Kickfurther has been an interesting way for me to invest in other people's businesses, and if all offers paid like  yours, it would be a profitable one too.  Anything else you'd like to tell us?

Ed:  I am constantly looking for salespeople and possibly someone in the Kickfurther family or you as a blogger could assist me in finding good people.

Well, Ed, if any of my readers think they would be a good fit for your company, they can go to your website and get your contact information.  If they are looking for projectors they can learn what some of your customers have said about you.  Your projectors are available in my Kickfurther Store and if readers buy them there, I get a 5% commission.    And of course, since I'm one of your Kickfurther backers, I have a vested interest in seeing you sell those projectors I helped finance.

If you have a business and think that Kickfurther can help you finance your inventory, use this link and I get a finder's fee.  If you are an investor and believe that Kickfurther is a good place for you to invest, use this link and I get referral credit.