Well, I blinked an eye and its October already. My best friend in Korea left already so now I’m even more lonely than before… what can I do. Moving back to SF isn’t an option thanks to insane housing prices there and moving back to Canada is just more depressing. Looks like staying in Korea is still the way to go.
Some updates – I’ve been calculating my net worth since Aug 2009 – and my net worth this year is actually the same as in Nov 2013. Which means that I’ve lost net worth despite making money last year and this year. What happened? Well, the short answer is, excessive buying/selling, collecting vintage electronics, paying back owed taxes, bedbug issue, excessive rent in Korea/SF, excessive cellphone bills, alot of travelling, and a bad stock market this year.
If we break down the spending on Mint.com, I can see that for last 12 months:
-36% ($35,205) was spent on shopping. This doesn’t mean I bought this many items; I bought and sold alot of things, and including eBay and UPS shipping fees, I lost alot of money here as well. I also spent alot collecting my vintage PDAs/UMPCs/gadgets, video games, Magic cards, etc so thats why this category is so high.
-19% ($19,181) was spent on mortgage and condo management fees. This is valid, since there’s no way to avoid this.
-7% ($6,843) was spent on travelling. Since I go back to USA every few months, this can’t be helped as well. I already went back to US twice this year and Toronto once. I will travel to Europe next week, go back to US again, and then back to Korea. And then later this year I’m going back to Toronto again. That’s 2 trips to Toronto and 3 trips to San Francisco and 1 trip to Europe all in one year.
-7% ($6,419) was spent on food. This is valid, since eating with friends is pretty important.
-$6,450 was spent paying back owed taxes for 2013. Turbotax must have made an error 2 years ago or something. This really impacted my finances alot.
-4% ($4,264) on entertainment. This would bars, lounges, clubs and Steam games. Probably could be avoided.
-3% ($3,408) on Bills. Yeah, yeah I know.. I’m spending way too much on my cellphone bill. I need to figure out a way to bring this down, I think my AT&T contract for my iPad which I’m not using expires in Nov so I can at least get rid of that.
-3% ($3,500) on getting rid of bedbugs. Yeah, not only did last years bedbug problem give me permanent scars, I also had to pay up the arse to get rid of them.
So, I’ve figured out some ways to increase my revenue and reduce spending, which I will be serious about starting next year. Here’s my plan:
-Sell all the excessive electronics and other things which I don’t use or need that often. This includes my unused PS3/PS4 games (sadly, Steam games and Playstation Network / Nintendo eStore games can’t be sold), unplayed Magic cards, unplayed records/LPs, gadgets (UMPCs,computers,PDAs,speakers,headphones,etc) that I feel are useless, unnecessary or not worthy to collect, extra guitar gear (Traynor amp and Gretsch white penguin), extra audio and video equipment like my microphone and extra tripods. All this is worth probably at least $7,000.
-Increase rent. As a landlord, its my duty to increase my rent to reflect local prices and I’ve been undercharging my SF apartment for it. This should be some nice extra cash.
-Move to a cheaper place in Korea. I’ve been living in one of the most expensive places in Korea and I can cut the rent in half by moving just a few stations away.
-Migrate this website to my own server hosted on my Synology DS. Yes, so I won’t need to renew the $300+ hosting fee with Bluehost every year
-File my scooter as PNO – I’m not operating my scooter anymore so no longer need to pay insurance or renewal fee, this is already done.
-Consolidate my electronics. I just got a nice Creative T4W 2.1 system which has bluetooth and optical in, which should mean that I can sell the following with no loss of functionality: Samsung soundbar, Polk Audio hampden, Klipsch KMC 3, Audyssey Wireless Speakers, Marshall Acton. That’s 5 speakers replaced by one! I can use the same system for my PS4/PS3/Mac Mini/Asus/TV that’s great consolidation.
-Be satisfied with what I have. I have an incessant need to upgrade equipment and I should stop doing it. I still use my iPhone5S. That’s a good thing. I should do that with my other electronics. Use it until it breaks.
I also would like to make some money off of Youtube (I have over 1500+ subscribers) but here’s the problem: My current account is associated with an invalid or suspended Adsense account and there’s no way I can get that fixed. So I tried creating a new youtube account with a valid Adsense account and started uploading some videos – Youtube flags all of them as requiring some proof of copyright! Even if its something as recording some DOS games or my own guitar music! That’s not in violation of any copyright! Other youtubers like PewDiePie record games all the time so why can’t I do it? So I deleted that account because I thought its useless since I can’t monetize but it doesn’t delete my subchannels underneath it… and I need to be logged in to delete my subchannels so now I have some extra youtube accounts floating around that I can’t delete!
Get your act together Youtube! Why aren’t the subchannels deleted along with your main account? And why won’t you let small time people like me monetize videos? Seems like a big middle finger from Youtube for me as far as that revenue stream is concerned. Blah.
Anyways, In other news I’m going to Czech, Austria, Croatia, Bosnia and Turkey in a week. I’ll write back after I get back from my vacation :).