the design-a-budget challenge February 1, 2008
Posted by deepali in budget, travel, work.trackback
So I’m throwing a request/challenge into the blogosphere, and hoping someone (or several someones) bites. Anyone is welcome to participate, though I will probably be asking some specific people for their input because I’d like their perspective (don’t worry, I won’t be hurt if you say no). But the game is simple: design me a budget on 15K over 10 months.
Just a little background – 15k is the amount of a grant I’m hoping to win. This amount is supposed to cover my living expenses as well as my research. And the grant is in Mongolia.
Things to consider:
1. Specific amounts are not necessary, though welcome. I’m more interested in categories and perhaps percent breakdowns.
2. Additional funding is possible, depending on whether 15K is a feasible amount for that time period. Feel free to calculate how much additional I might need.
3. Research costs will have to be factored, but they will be negligible. I can provide a specific number if necessary. Travel will probably be the biggest factor.
4. All lifestyle elements are my responsibility (renting an apt, buying food, etc).
5. This is mostly a “things to consider” challenge. No need to get bogged down in the details. And you don’t need to know anything about Mongolia (though maybe you’d like to learn).
6. I believe I will owe taxes on this amount, but I think we can consider most of it refundable, as it will drop my annual salary that year to 20K.
So if interested, feel free to write a blog post in response, and let me know. I’m really looking forward to getting people’s thoughts on this!
Hi – How come you are going to Mongolia? What are you going to be doing there? You haven’t given much info for people to go on. Have you actually done any research on what the cost of rent, food etc will be, or is that information not readily available on the Internet?
Hi Catherine,
It’s more an intellectual exercise than anything else. I’m hoping to get some good info from people that will help me create an actual budget. So I don’t really need a cost breakdown, but more an analysis of things to consider. So, for example, percentages might be a good way to go. Also, some thought into what might or might be available in Mongolia, compared to what is available here.
And I’ll be there to do a research project. Thanks!
What are you researching while you are there? Haven’t you been able to find anything about what will be available there yourself?
Will you be doing any of your own research before you go? It seems a little risky to base your budget on the guesses of a total stranger who might happen upon your blog.
Hi Catherine,
Like I said – intellectual exercise. I spent enough years in finance to know how to create my own budget – I’m more interested in gleaning bits of info from people to incorporate. And of course, just hearing what people have to say.
This is mostly for people who’d like to stretch their imagination in a practical sort of way.
Hi Deepali – I see. I’ve checked and it sounds as though getting around is going to be a major expense, as they don’t seem to have a reliable bus service. By the sounds of road conditions you’re going to be looking at renting a jeep. That could be your biggest expense. Maybe it would be cheaper to buy one when you arrive and sell it before you leave?
You still didn’t say what you’re going to be researching when you get there.