Brian Jackson
09-25-2004, 02:18 PM
Greetings fellow "Lunatic Fringe" brethren.
Today, as planned, I met with my local bank reps to set up a new account just for the GyroBee project. I told them it's only a temporary account for the duration of a Gyroplane building project, and that was cool with them. I had to do a Checking instead of a Savings because a new Checking required only $50 initial deposit as opposed to $300 for a Savings. However, once $300 is there it's easilly transferable.
The purpose of this new account is to serve as a depository, which rhymes with suppository and feels about the same :D . Every week after pay-day I'll deposit $90 or so, which isn't an astronomical amount in small doses. Since I'm spreading my build out over a 12-month period, there will be around $4,600 in the account, which is enough to purchase a Rotax 447 Engine and a set of Dragon Wings blades. ($90 x 52 weeks = $4,680)
As planned, I intentionally declined the ATM Card option so I wouldn't be tempted to dip into the account... I'm truly terrible at managing money as my wife will vouch :o .
Now for the really hard part: That same wife pays our bills, and convincing her that socking away $90/week as "money well spent" is another story. Especially when one considers that, in addition, there are tools, materials and components to purchase. I don't really have a good answer for that one. Fortunately she would like to try her hand at woodworking. Knowing that, I'm making sure that my shop tools are cross-over, meaning that they can serve several functions for wood AND aluminum. That way she's getting something out of the deal too... Should lessen the proverbial "rolling-pin" cranial blow when she gets the bill... "Honey, I was thinking of you too..."
Outside of the obvious, I've nothing more to add. We'll see how it goes with this "regimented money discipline" thing. The math works and it looks great in theory. I think the trick is in forgetting the money is there.
I'm not a psychologist but I play one on TV,
Brian Jackson
Today, as planned, I met with my local bank reps to set up a new account just for the GyroBee project. I told them it's only a temporary account for the duration of a Gyroplane building project, and that was cool with them. I had to do a Checking instead of a Savings because a new Checking required only $50 initial deposit as opposed to $300 for a Savings. However, once $300 is there it's easilly transferable.
The purpose of this new account is to serve as a depository, which rhymes with suppository and feels about the same :D . Every week after pay-day I'll deposit $90 or so, which isn't an astronomical amount in small doses. Since I'm spreading my build out over a 12-month period, there will be around $4,600 in the account, which is enough to purchase a Rotax 447 Engine and a set of Dragon Wings blades. ($90 x 52 weeks = $4,680)
As planned, I intentionally declined the ATM Card option so I wouldn't be tempted to dip into the account... I'm truly terrible at managing money as my wife will vouch :o .
Now for the really hard part: That same wife pays our bills, and convincing her that socking away $90/week as "money well spent" is another story. Especially when one considers that, in addition, there are tools, materials and components to purchase. I don't really have a good answer for that one. Fortunately she would like to try her hand at woodworking. Knowing that, I'm making sure that my shop tools are cross-over, meaning that they can serve several functions for wood AND aluminum. That way she's getting something out of the deal too... Should lessen the proverbial "rolling-pin" cranial blow when she gets the bill... "Honey, I was thinking of you too..."
Outside of the obvious, I've nothing more to add. We'll see how it goes with this "regimented money discipline" thing. The math works and it looks great in theory. I think the trick is in forgetting the money is there.
I'm not a psychologist but I play one on TV,
Brian Jackson