Research

I have been figuring out what information I need to complete my Financial Analysis report.  My financial situation is made more complicated by the fact that I own a business.  My personal finances are very connected to my business.

I have been researching the cost of used diesel powered cars in the area, as well as hybrid vehicles.  I need to analyze our current vehicle situation and think about which vehicles (home and business) we really need to keep.  I have also researched the Kelley Blue Book value of our current vehicles so that I can determine which, if any, I should sell.  My husband and I had a conversation about what our ultimate goal should be – to eliminate all car payments (which will mean that we can only afford a fairly used car) or if we would be OK still having a small car payment so that we can purchase a newer car.  We didn’t come to a decision, but we are open to exploring all options.  I am going to use Excel to create a spreadsheet showing a few different financial scenarios.

Brainstorming

I have been thinking this week about what I want to do for my Financial Analysis project.  There are a number of things that came to mind – buying a horse, purchasing an investment rental property, buying and installing a solar water heater for our house.  In the end, I think I have decided on purchasing a used diesel powered small car that we can convert and run with biodiesel.  My husband and I have been talking for a while about getting a smaller car now that our children are older and we are usually just running one or two  of them around at a time.  We have also been wanting to reduce our family’s dependence on fossil fuels in general and my husband, a chemical engineer, really wants to make his own biodiesel.  Last weekend I drove to Portland  (by myself) to pick up my sister at the airport in our minivan.  I was thinking on the way up there that it was such a waste to take a big car that seats 7 passengers when I only had 2.  This project will require me to analyze the vehicles we currently have, both personally and for our catering business.  I am excited to be using this for my class project because my husband and I want to get this car sometime soon, so I want to find a way to make it financially possible.

Dreams

How can I make my dreams come true?