If you have never heard of this site it might be something worth checking out. www.associatedcontent.com is a online publication that buys articles that you write. I have submitted 4 and all have gotten me between $3 and $4, and they really did pay out.
Click Here if you want to be a content producer. If you have some spare time or have knowledge on a particular topic in might be worth it to check it out.
Link to Join
Thursday, September 20, 2007
Wednesday, September 19, 2007
The Breakthrough Cont'd
If you did not read yesterdays post from Jim Collins' book "Good To Great" please check it out before you continue with this one.
In that illustration (known as the flywheel concept) you are using a ton of force and only moving it a little at a time however at some point the wheel begins to turn on its own and even goes faster with you doing little to no effort.
I think we all want to be there in our finances. I have stated as a goal of mine, I want my alternative income streams to be greater than my expenses. This to me is true financial freedom. How do I do this? First I MUST understand this concept because it changes strategy on what our plan is.
What would happen if you were pushing that flywheel and you got tired and took a break for just a second (or a month when it comes to personal finance). The momentum would be lost and we would be discouraged to have to start over. Not only that, we would not have as much energy as before. If that happens perpetually we would never get to be to the breakthrough point.
This "stopping factor" can come in many different shapes when it comes to personal finances. It could be that emergency that comes up that we didn't have an emergency fund in place to counteract so we could keep building momentum. It could be the realization that it is hard right now and we want it to be easier immediately, instead of looking to the breakthrough point. Or it might be that you are just focused on results right now and give up because you are not seeing any.
Just like with the flywheel when we start we will put in the most effort and get the least amount of results. But getting to the breakthrough point is worth it and in anything you do and this needs to kept in mind.
Practically for any goal you have with your finances this applies. If you are budgeting for the first time it will take the most effort and you will probably make the most mistakes or be the most frustrated than you ever will. It gets easier, I promise. After a little over a full year of actually living on a budget, I am able to accurately, efficiently, and effectively budget my money in a matter of minutes for the upcoming month.
All it takes is getting through the initial max effort min results stages and looking to the breakthrough point.
In that illustration (known as the flywheel concept) you are using a ton of force and only moving it a little at a time however at some point the wheel begins to turn on its own and even goes faster with you doing little to no effort.
I think we all want to be there in our finances. I have stated as a goal of mine, I want my alternative income streams to be greater than my expenses. This to me is true financial freedom. How do I do this? First I MUST understand this concept because it changes strategy on what our plan is.
What would happen if you were pushing that flywheel and you got tired and took a break for just a second (or a month when it comes to personal finance). The momentum would be lost and we would be discouraged to have to start over. Not only that, we would not have as much energy as before. If that happens perpetually we would never get to be to the breakthrough point.
This "stopping factor" can come in many different shapes when it comes to personal finances. It could be that emergency that comes up that we didn't have an emergency fund in place to counteract so we could keep building momentum. It could be the realization that it is hard right now and we want it to be easier immediately, instead of looking to the breakthrough point. Or it might be that you are just focused on results right now and give up because you are not seeing any.
Just like with the flywheel when we start we will put in the most effort and get the least amount of results. But getting to the breakthrough point is worth it and in anything you do and this needs to kept in mind.
Practically for any goal you have with your finances this applies. If you are budgeting for the first time it will take the most effort and you will probably make the most mistakes or be the most frustrated than you ever will. It gets easier, I promise. After a little over a full year of actually living on a budget, I am able to accurately, efficiently, and effectively budget my money in a matter of minutes for the upcoming month.
All it takes is getting through the initial max effort min results stages and looking to the breakthrough point.
Tuesday, September 18, 2007
The Breakthrough
This illustration comes from Jim Collins' book Good to Great. I will connect this illustration to where I am going with it tomorrow.
Picture a huge, heavy flywheel – a massive metal disk mounted horizontally on an axle, about 30 feet in diameter, 2 feet thick, and weighing about 5,000 pounds. Now imagine that your task is to get the flywheel rotating on the axle as fast and long as possible.
Pushing with great effort, you get the flywheel to inch forward, moving almost imperceptibly at first. You keep pushing and, after two or three hours of persistent effort, you get the flywheel to complete one entire turn.
You keep pushing, and the flywheel begins to move a bit faster, and with continued great effort, you move it around a second rotation. You keep pushing in a consistent direction. Three turns…four…five…six…the flywheel builds up speed… seven…eight…you keep pushing…nine…ten…it builds momentum…eleven…twelve… moving faster with each turn…twenty…thirty…fifty…a hundred.
Then at some point – breakthrough! The momentum of the thing kicks in your favor, hurling the flywheel forward, turn after turn…whoosh!…its own heavy weight working for you. You’re pushing no harder than during the first rotation, but the flywheel goes faster and faster. Each turn of the flywheel builds upon work done earlier, compounding your investment of effort. A thousand times faster, then ten thousand, then a hundred thousand. The huge heavy disk flies forward, with almost unstoppable momentum.
Now suppose someone came along and asked, “What was the one big push that caused this thing to go so fast?”
You wouldn’t be able to answer; it’s just a nonsensical question. Was it the first push? The second? The fifth? The hundredth? No! It was all of them added together in an overall accumulation of effort applied in a consistent direction. Some pushes may have been bigger than others, but any single heave – no matter how large – reflects a small fraction of the entire cumulative effect upon the flywheel.
Monday, September 17, 2007
Deals!!! College Student Edition
I know this might be a little late, but just in case there is someone reading that this might help out I wanted to post it anyway. I ran across some great deals on Hustler Money Blog.
- Gateway Notebook Intel Celeron M-Processor 520 at Best Buy for $350
- Ultimate Office 2007 for $60, valid only for students with .edu email address.
- Compaq Presario C508US 15.4″ Widescreen Notebook for $320 at Circuit City
Friday, September 14, 2007
Ways to Cut Down Your Entertainment Budget
Entertainment can be very expensive if we are not careful. I wanted to offer some great ways to spend less on this category while still having fun.
Not so much Traveling
This one hurts me because I love driving and more than that, I love driving to Braves games. I am a huge fan and I try to find good deals on eBay for tickets. While I figure I am saving money on tickets that most people would spend, I am killing a ton of money on gas to get there and back. Traveling really is a sneaky way to creep up your expenses and then when you look at your bank account balance you wonder where your money went.
Find Alternative Sources of Entertainment
I know quite a few people who have joined an ultimate frisbee league which is a great way to be entertained while not spending a lot of money. I also have friends who have a basketball night where they all get together on a certain night of the week or on Saturday morning and play. When you find things to do with friends and loved ones like these options you will feel no need to go out and spend a large amount of money on ways to entertain yourself.
Cancel some Memberships
Lots of people have gym memberships or other types of revolving expenses that they hardly ever use. This is sucking a good amount of money up. Most of the time you have signed up for a lot of little monthly fee type things which add up when put all together. If you go to a gym, health club, country club, or other service only once a week, chances are you are not getting your money's worth out of it.
Lower your Cable Package
I know this is crazy talk but I am serious. Most cable companies will have a low end basic cable package that usually cost a significant amount less. I know we are living in a world of HD, DVR, and premium packages and everything has to be HD but it is worth a thought. I am not saying you are irresponsible if you have a big cable package; I am just throwing out an idea for it in case it sticks somewhere.
Newspaper/Magazine Subscriptions
I am guy that LOVES sports. And I love reading/watching/talking about sports all the time. Therefore, I used to have a subscription to Sports Illustrated, Sporting News, and ESPN the magazine. The problem is that I never really read them. I looked through them, read some blurbs here and there but I realized that I needed to cancel. This took a good shot to the pride because I am a man and men read Sports, but I am glad I am saving that $10-$15 a month now.
Use the Library
The library is freakin awesome. I love books (more like books on tape), I love movies, and I love free. Did you know the library has all 3? I suggest to use this amazing service that we are given by the state.
Anyway, there are tons of ways to keep our entertainment seeking hearts occupied without spending a ton of money. The key is to just make a little effort and it will go a long way. If you end up cutting down on movies and dining out you will more than likely save a LOT of money.
Not so much Traveling
This one hurts me because I love driving and more than that, I love driving to Braves games. I am a huge fan and I try to find good deals on eBay for tickets. While I figure I am saving money on tickets that most people would spend, I am killing a ton of money on gas to get there and back. Traveling really is a sneaky way to creep up your expenses and then when you look at your bank account balance you wonder where your money went.
Find Alternative Sources of Entertainment
I know quite a few people who have joined an ultimate frisbee league which is a great way to be entertained while not spending a lot of money. I also have friends who have a basketball night where they all get together on a certain night of the week or on Saturday morning and play. When you find things to do with friends and loved ones like these options you will feel no need to go out and spend a large amount of money on ways to entertain yourself.
Cancel some Memberships
Lots of people have gym memberships or other types of revolving expenses that they hardly ever use. This is sucking a good amount of money up. Most of the time you have signed up for a lot of little monthly fee type things which add up when put all together. If you go to a gym, health club, country club, or other service only once a week, chances are you are not getting your money's worth out of it.
Lower your Cable Package
I know this is crazy talk but I am serious. Most cable companies will have a low end basic cable package that usually cost a significant amount less. I know we are living in a world of HD, DVR, and premium packages and everything has to be HD but it is worth a thought. I am not saying you are irresponsible if you have a big cable package; I am just throwing out an idea for it in case it sticks somewhere.
Newspaper/Magazine Subscriptions
I am guy that LOVES sports. And I love reading/watching/talking about sports all the time. Therefore, I used to have a subscription to Sports Illustrated, Sporting News, and ESPN the magazine. The problem is that I never really read them. I looked through them, read some blurbs here and there but I realized that I needed to cancel. This took a good shot to the pride because I am a man and men read Sports, but I am glad I am saving that $10-$15 a month now.
Use the Library
The library is freakin awesome. I love books (more like books on tape), I love movies, and I love free. Did you know the library has all 3? I suggest to use this amazing service that we are given by the state.
Anyway, there are tons of ways to keep our entertainment seeking hearts occupied without spending a ton of money. The key is to just make a little effort and it will go a long way. If you end up cutting down on movies and dining out you will more than likely save a LOT of money.
Thursday, September 13, 2007
Yes, its all free!
Wanted to share with everyone some goodies. I love free money and free stuff, if you do too than some of these links might be of interest to you. I found these on Hustler Money Blog.
If you are looking to change banks or open up a new account, you might want to check out one of these promotions.
If you are looking to change banks or open up a new account, you might want to check out one of these promotions.
- Bank of America $100 bonus: Open online with $100 minimum deposit using offer code AOU2609 and receive $100 bonus for Bank of America’s cardholders. Expires on Nov. 30th
- Citibank $200 bonus: Call 1-866-810-9043 and mention offer code MGWE. Deposit $1500 to get first $100 bonus, then setup direct deposit to receive the second $100 bonus. Expires Dec. 30th
- Wachovia $75 Academy Gift Card: Open a free Checking account with $100 in new funds and setup direct deposit within 90 days to receive a $75 gift card bonus from Wachovia.
- HSBC $75 Bonus: Open a free Checking account and receive $75. Offer expires Sept. 30th
Wednesday, September 12, 2007
College Student Spotlight
Something came to my head today that saved me hundreds of dollars while I was in college. So, if you are a college student if you do what I am about to say you will literally save hundreds of dollars.
Most of you just bought textbooks for the upcoming semester. If you went to the on campus bookstore you ended up paying a pretty penny. However, I have a solution that will almost cut that bill in half. And the answer isn't just skipping out on buying half your books. My solution is to use www.half.com.
On there you can click on the textbooks link and type in your ISBN number. You will have to travel down to the bookstore and scout out what books you need and then write down the ISBN # (it literally takes 5 minutes).
Then just click and buy your textbooks through half.com which are normally half the price (you are buying them from other people in a secondary market). Normally shipping will take like 7-10 days so account for that when you order it (do not by it the night before you need it).
Once you get the books, if you bought the most recent version you can still sell it back to the bookstore at the end of the semester and usually the net cost is very small. Another thing that I started doing is I would by the previous version of the textbook than the current version. My senior year I literally spent like $40-$50 on my textbooks and they were the EXACT same thing as the current version. New versions might have minor changes but it was not worth spending $400-500 more on current versions of the book, I just cared about learning the material anyway.
I know school has already started so this post might be a little late, but keep this in mind for next semester.
Most of you just bought textbooks for the upcoming semester. If you went to the on campus bookstore you ended up paying a pretty penny. However, I have a solution that will almost cut that bill in half. And the answer isn't just skipping out on buying half your books. My solution is to use www.half.com.
On there you can click on the textbooks link and type in your ISBN number. You will have to travel down to the bookstore and scout out what books you need and then write down the ISBN # (it literally takes 5 minutes).
Then just click and buy your textbooks through half.com which are normally half the price (you are buying them from other people in a secondary market). Normally shipping will take like 7-10 days so account for that when you order it (do not by it the night before you need it).
Once you get the books, if you bought the most recent version you can still sell it back to the bookstore at the end of the semester and usually the net cost is very small. Another thing that I started doing is I would by the previous version of the textbook than the current version. My senior year I literally spent like $40-$50 on my textbooks and they were the EXACT same thing as the current version. New versions might have minor changes but it was not worth spending $400-500 more on current versions of the book, I just cared about learning the material anyway.
I know school has already started so this post might be a little late, but keep this in mind for next semester.
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