Neville's Financial Blog

This blog will be dedicated to tracking my financial progress. Today I turn 22, let’s see how far I can financially advance by the time I am 23.

Name: Neville Medhora

Age: 27

Location: Austin, TX.

Ethnicity: Indian

Religion: Parsi Zoroastrian

Occupation: Entrepreneur.  Notably HouseOfRave.com (how it works)

High School: Langham Creek High School (Houston, TX.)

University : University of Texas Austin, graduated in 2006 in Political Science and Business minor.

Instruments Played: Guitar, Bass Guitar, Doumbek, Piano, drums. A little bit of harmonica. Not great at any of them, but if it makes noise it easily amuses me.

Idolize: People who are self-made.

This blog was originally started for the sole purpose of keeping a track of my financial goals and status. I often use this blog to look back on what I was doing at (x) time this year, so I try to keep it populated with financial events in my life. Occasionally I try to help people learn something new.

Here’s a quick story of how I got started in entrepreneurship.

After reading my blog, many people have personally told me:

• This blog was their inspiration to start their very first business and quit their job (because of this).
• They started eating better and lost weight (because of this).
• They think I’m awesome (for actually TRYING things instead of just talking about them like this and this).
• They think I’m horrible (because of things like this).
• Think I have too much time on my hands (because of stuff like this).

Why does your page look so simple?
-I’d rather focus on content than site layout.

You seem to be all about money. What’s up with that?
-This is a financial blog, therefore everything I write will somehow pertain to money.

I’ve noticed you don’t write too much about about current events, why?
1.) My opinion doesn’t matter unless I am going to take action on the event.
2.) It seems pointless to simply reiterate and comment on the news.

For a personal financial blogger, you do not seem to be very frugal.
-That’s because I have no trouble spending within my means. I spend in areas where it counts and I only will spend what I can truly afford.

Won’t all work and no play make Nev a dull boy?
-I work hard and play even harder. I also find being entrepreneurial to be “fun”. Working at a job is alright, but entrepreneuring is often enthralling, even when performing mundane tasks.

What are your views on the books “Rich Dad, Poor Dad” and “The Millionaire Next Door”?
-Rich Dad – I think it is a decent inspirational book that can novices start managing their financial affairs better.
-Millionaire Next Door – This is the way most Americans (or anywhere) with a steady job should live their lives.

What reading material do you like?

• There are a sleu of blogs such as TheKirkReport I read everyday along with the basic newsources: CNN, NYTimes, BBC etc.
• I print out and read the BerkshireHathaway notes to investors all the time.
• Anything by Earl Nightingale should be plated in gold.
• The undoubtedly best book I’ve ever read was “Think and Grow Rich” by Napolean Hill.  I have some other book recommendations here.
• The Gary Halbert Letter (Google it).
• I go to the public library about 3-5 times a week and find books of varying subjects.
• Often I stroll through the stacks of the library, see a book that catches interest, then sit down right there and read the whole book.
• I keep journals and write notes of most things I read….or at least put snippets of them in my iPhone.

Why should I take financial advice from you?
-You shouldn’t.

What was your major in college?
-Political Science with a business minor (from The University of Texas).

Shouldn’t you have gone for a business degree since you are more finance minded?
-No.

How often do you post?
-Every other day except weekends. I might post once a day if I feel like it. No, scratch that…I’ll post whenever the hell I feel like it.

Do you report EVERY penny you have on the site?
-I (used) to post accurate information about many of my accounts.

Do you post all your business adventures on the site?
-No. Many of my ventures are not posted as some require a certain level of anonymity for different reasons. The best stuff is often the most confidential.

What is the purpose of this site?
-I created this site for one selfish purpose, to keep track of my fiancial progress.  If someone learns something in the process, that’s a great bonus.

Analyzing myself, am I where I want to be right now? And am I on the track to being where I want to be in five years? NO. I have accomplished a lot more things in my life than the average college student my age, but it is not even close to enough. I have high expectations for myself, and whenever I meet them…I raise them.

I’ve had in my mind a few things to start which I haven’t. I keep blaming school for interfering with my side projects, but that is no excuse.

I need to accomplish these few things within the next few months, definitely before I leave college:

-Videotape traffic patterns, contact traffic engineer researcher on campus and implement my traffic strategy on I-35 with a crew.

-Do research on starting my advertising company idea.

-Start Resumite Personal Sites and make it the largest of its kind on the internet. Fast turnaround, lots of services, upfront/cheap pricing.

-Trademark the name Resumite (even if it gets rejected, at least you now know how).

These few things are accomplishments I would like to have at least tried before I leave college. Even if they all fail they will bring in an untold amount of knowledge and experience. I also want to have the stigma of being a go-getter and someone who GETS THINGS DONE. Laziness and lack of ambition sicken me.

I’m going to New York tommorrow for two weeks. I will continue to update the site from there (it will be especially important to keep track of my spending while visiting).

As for now, here are my current account balances. By the time I get back, the spending account may very well be $0.00 !

General Account: $1,108

Business Balance: $2,422

Spending Account: $503

Investment Account: $1,044

Permanent Savings: $5,221

Stock Portfolio Value: $8,134

Credit Card Balance: $0

Total Assests: $18,432

I’m in NYC right now, and so far I have been paid for in most places. Major spending to point out so far (Day 4 of the trip):

• $188 – Two tickets to New Year’s party
• $75 in random spending money

So far very little money has been spent, but the worst is still to come during New Years. For the time being, Merry Christmas and Happy Holidays to all!

Still in New York and having lots of fun. Here is an updated breakdown of my expenditures up till day 9 of the trip:

• $188 – Two tickets to New Year’s party
• $75 – Random spending money
• $18 – Movie Tickets
• $80 – Spending Cash
• $20 – Subway Costs
• $14 – NYC Lunch
• $20 – Spending Cash
• Total – $415

I haven’t broken down “spending cash” because it would be a very long list of small things like hot dogs, drinks, tips etc. Keep in mind I have also been paying for two people in many places.

I’d like it to be publicly known that my 3 hours of work today were COMPLETELY WASTED.

I work the night shift at the UT Law School computer lab for a few reasons:

-Very cool boss (who I only see on Friday)

-At night no one is there, so I have very little actual work to do (basically none).

-All the free computers, scanners, office supplies, printing etc. I ever need.

-Get a couple of rooms to myself with an enclosed office for talking on the phone.

-Flexible hours, but I usually keep them routine so I can work at nights.

-I get to do whatever I want and get paid at the same time. I usually get all my homework done, along with any web design etc. at work.

I get paid a paltry $7.32 an hour, but considering I get to do whatever I want while on the job, it is a perfect job for a student that needs the time!

The point of this post is: I am graduating in 5 months, and I need to UTILIZE EVERY SECOND to be financially stable by then! So these wasted hours need to stop!

Usually when people ask me what I want to do after I graduate I say :

“I would like to work for a large investment firm where I can really sink my teeth into the market. After two or three years of working I’d like to get my MBA.”

This response generally will satisfy most people. I used to reply with my real aspirations, but saying it to someone who believes a corporate paycheck is the only way to go is futile.

If I tell you my real aspirations, it generally would go something like:

“I would like to simultaneously work and create investments

after college. By this I mean working during the day, and becoming a superhero entrepreneur by night. By 11-17-2012, my 30th birthday, I plan to have established Enwon Inc into a conglomerate company drawing income from 5 different sources in preferably different industries. These would most likely include the liquor industry, money management in stock, 2 inventions in the consumer products area and real estate.”

At the rate I’m going, I don’t think this is an unrealistic vision by any means. I have dabbled if not dived into everything named above (I don’t post some ventures for confidentiality purposes). My idol company is Fortune Brands, whose stock I own and love.

Obviously some people give me an awkward look and dissenting opinion when I tell them my true aspirations, but I have 8 years to prove them wrong!

I got a small blurb on the side of the page linking to NevBlog.com!

Check it out!