- Getting ready to go build a rain gauge at home depot with the kids. #
- RT @hughdeburgh: "Having children makes you no more a parent than having a piano makes you a pianist." ~ Michael Levine #
- RT @wisebread: Wow! Major food recall that touches so many pantry items. Check your cupboards NOW! http://bit.ly/c5wJh6 #
- Baby just said "coffin" for the first time. #feelingaddams #
- @TheLeanTimes I have an awesome recipe for pizza dough…at home. We make it once per week. I'll share later. in reply to TheLeanTimes #
- RT @bargainr: 9 minute, well-reasoned video on why we should repeal marijuana prohibition by Judge Jim Gray http://bit.ly/cKNYkQ plz watch #
- RT @jdroth: Brilliant post from Trent at The Simple Dollar: http://bit.ly/c6BWMs — All about dreams and why we don't pursue them. #
- Pizza dough: add garlic powder and Ital. Seasoning http://tweetphoto.com/13861829 #
- @TheLeanTimes: Pizza dough: add lots of garlic powder and Ital. Seasoning to this: http://tweetphoto.com/13861829 #
- RT @flexo: "Genesis. Exorcist. Leviathan. Deu… The Right Thing…" #
- @TheLeanTimes Once, for at least 3 hours. Knead it hard and use more garlic powder tha you think you need. 🙂 in reply to TheLeanTimes #
- Google is now hosting Popular Science archives. http://su.pr/1bMs77 #
- RT @wisebread 6 Slick Tools to Save Money on Car Repairs http://bit.ly/cUbjZG #
- @BudgetsAreSexy I filed federal last week, haven't bothered filing state, yet. Guess which one is paying me and which one wants more money. in reply to BudgetsAreSexy #
- RT @ChristianPF is giving away a Lifetime Membership to Dave Ramsey’s Financial Peace University! RT to enter to win… http://su.pr/2lEXIT #
- RT @MoneyCrashers: 4 Reasons To Choose Community College Out Of High School. http://ow.ly/16MoNX #
- RT @hughdeburgh:"When it comes to a happy marriage,sex is cornerstone content.Its what separates spouses from friends." SimpleMarriage.net #
- RT @tferriss: So true. "Nearly all men can stand adversity, but if you want to test a man's character, give him power." – Abraham Lincoln #
- RT @hughdeburgh: "The most important thing that parents can teach their children is how to get along without them." ~ Frank A. Clark #
How to make room for a paying lodger
A spare room in your home is an opportunity to boost your income. Imagine how much extra cash you could make by offering that space to a rent-paying tenant. You can start getting things ready by creating the necessary space right now. Our guest blogger, Big Yellow Self Storage, shows you how in these five simple steps.
1. What needs to go? Take a good look around your spare room (and the rest of your home, while you’re at it). Decide what you’re happy to part company with and what you want to find a storage solution for.
2. Sell, donate or trash. For anything with a monetary value, get selling. Try online auctions, your local classified ads, boot sales(ed. That’s a flea market or swap meet for those in the U.S.) – anything that offers a cheap and quick way to raise cash. Alternatively, give your unwanted but perfectly serviceable items to charity. As a last resort, put them out with the trash or take them to a recycling centre.
3. Decide what sort of storage solution you need. For those items that you’re not getting rid of, you’ll need some form of storage facility. And, depending on what those items are, this could be a garden shed, a loft, a garage or a unit at a secure, temperature-controlled storage site.
4. Prepare your items to go into storage. Flat pack self assembly furniture and keep the fixings close by in a small bag. Coat wood and metal with varnish and rust protector respectively. Keep mattresses in bags available at DIY stores. (Change the bag every year). Use a wardrobe to store clothes, shoes, bags and bed linen – its small footprint will give you loads of hanging, stacking and shelving space. Be aware that books can get really heavy. Use lots of small boxes instead of fewer large ones and list their contents on the visible sides.
5. Get ready to welcome your lodger! All that remains now is to prepare and advertise your spare room – and start earning money!
For further information about storing just about anything and to find out more about storage options, visit Big Yellow for Self Storage.
Saturday Roundup: Winter Wonderland
Today, I am planning to be on the receiving end of a foot of snow coming in at 30 miles per hour. Tomorrow, when it’s time to clean all that crap out, it will be 30 degrees below zero. Fun!
The drawing for a $100 Amazon gift card is still going on! Go here for details. It ends on the 15th, so you have 4 more days.
Best Posts
Santa’s got a new phone number! It plays a simple message when you call it, but it’s an easy way to make a little kids smile.
How many days of your life did that that new gadget cost you?
Go watch Crystal get all survivalist and stuff. Have you ever though about what would happen if the world as you knew it ended? Even for a few days, say, after a hurricane hit?
It’s great to live in the future. I can’t wait to hit Lunar Starbucks.
LRN Timewarp
For those unfortunate enough to not have been tuned in since the beginning, I’m going to spend some time reviewing posts from a year ago.
In How to Have a Perfect Life, I layout the planning necessary to live a life you don’t regret on your deathbed. Just take the first step.
Babies are Expensive is one of my most-visited posts to date, and was my first carnival submission, and my first editor’s pick for that submission. The truth is, babies are expensive, but they don’t have to break the bank.
Don’t Screw Future-You was a fun post to write. What would the you from 20 years in the future have to say to you?
Carnivals I’ve Rocked
Consumer Action Handbook was included in the Carnival of Personal Finance.
Mistakes Made was included in the Carnival of Money Stories.
Thank you! If I missed anyone, please let me know.
What is the financial prize for winning the Super Bowl?
When you win the Super Bowl, you get a big ring and your team takes home a giant trophy. But for most guys out on the field, there’s a bigger prize waiting elsewhere. There are financial incentives associated with winning the big game. Some of them are direct, while others come later, in ways that most people will never see. The financial incentives are even different for coaches, players, and the owners who already have billions of dollars anyway. So how do the finances of the Super Bowl shake out?
A Direct Bonus
When Seahawks coach Pete Carroll threw away the Super Bowl, he cost his players and coaches a significant amount of money. Each player from the winning team receives $97,000 as a bonus. The losers are not left empty-handed, of course. They make off with a cool $49,000 each. Still Carroll’s mistake cost his players $48,000, as they had to settle for the consolation prize.
Endorsements Galore
Where things really get interesting is when one considers the marketing gains that players make when they become Super Bowl champions. The calculations are necessarily very indirect when talking about things like sponsorship value, but there is definitely some benefit to winning the big game. In the wake of winning the Super Bowl in 2014, Seahawks cornerback Richard Sherman signed endorsement deals with Campbell’s, Nike, and Microsoft. Running back Marshawn Lynch used his Super Bowl win to propel him to a deal with Skittles.
It’s difficult to know just how value the Super Bowl win was to these players and their financial futures, but it’s clear that winning the big game elevates players in the marketing sense.
Ownership Rewards
Super Bowl wins work out well for owners, too. The New England Patriots have won four big games over the last 15 years. In doing so, Tom Brady and company have turned the franchise into one worth over $2 billion. In addition, the Patriots “brand value” alone is worth $350 million. Some of these gains would have happened without wins in the big game, but it’s clear that taking home trophies helped the franchise grow in value.
What’s in it for coaches?
Winning a Super Bowl is the brass ring for coaches, and they are often defined by their ability or inability to take home a ring. When Pete Carroll led the Seahawks to last year’s Super Bowl victory, he was signed to a five-year extension that made him the NFL’s highest paid head coach at around seven million bucks per year. While he might be the goat in this year’s Super Bowl for his horrific goal line call, he’s living proof that if you can win the Super Bowl at least once, you can cash in on financial rewards in a big way.
There’s something to be had for nearly everyone when a Super Bowl win is in the offing. This year, the Patriots will get to enjoy those rewards. Next year, it’s bound to be some other team, some other coach, and some other owner.
Don’t Be A Dick
Integrity is what you do when nobody is looking.
Do you cheat at solitaire, steal from an untended garage sale, or keep something a store forgets to charge you for? If so, integrity may not be your strongest trait.
Similarly, if you let the actions of others dictate your behavior, you may be integrity impaired.
If you get cut off in traffic, do suddenly feel justified in cutting off the next guy?
If you have a dollar stolen from your desk, does that make it okay to take a candy bar from the honor-system candy box?
If the last guy left the water cooler empty, are you going to refuse to refill it the next time you are the one to drink the last drop?
If you’re answering yes to these questions, it may be time to examine your moral code. Doing the right thing means doing the right thing all of the time. You can’t be an honorable person if you resort to dishonorable behavior whenever you dislike what someone else does, especially if your actions are hurting an entirely uninvolved 3rd party.
You know the proper behavior. You know what the ethical choice is. The fact that someone else made an unethical choice doesn’t give you a license to be a dick.
If it’s your turn to clean the community refrigerator, do it and do it well, even if the last guy did a poor job.
If the last mom driving the car pool showed up late, don’t deliberately forget her kid.
If someone forgot to pay at a group lunch and you covered it, that doesn’t mean you can skip out on the bill next time.
Even if everything else is taken from you, no one can ever steal your ethics, your integrity, or your honor. Those things are up to you to destroy, and they nearly impossible to replace.
In all cases, in all things, do the right thing. You won’t be sorry.
Resurrected from the archives.
Top 7 Reasons To Trade Forex Over Other Financial Instruments
This is a guest post provided by ForexTraders.com
The foreign exchange market has literally exploded over the last 10 years. Before the 1990’s, the only players allowed to speculate in the forex market were banks, large hedge funds, and very wealthy individuals. The reason was simple. The minimum contract size was usually $100,000 and it ranged up to $1,000,000; therefore, most traders simply could not afford to trade in the market. The advance of technology and internet changed that. Today, traders can open an account with as little as $100 and begin trading in the spot fx market. This change has caused traders around the world to rush into the market and the Bank of International Settlements now estimates that average daily turnover in the fx market is around $4 trillion! Let’s examine a few of the top reasons why the fx market is drawing so many traders.
Leverage
In the United States, traders that engage in fx trading can leverage 50:1. Leverage was much higher in recent years, but government regulations have now capped leverage at 50:1 effective late October. This means that a forex trader can control a position of $50,000 with only $1,000 on deposit with his broker. Leverage is definitely a two-edged sword that can help a trader garner very quick and substantial profits, but it can also lead to debilitating losses and should therefore be used with caution.
Liquidity
The huge amount of volume that is present in the forex market each day makes it basically impossible for any single financial institution or even group of market participants to manipulate price movements. It also makes it much easier for large traders to enter and exit the market without trading against themselves, which is a common problem in the stock and commodity markets.
24 Hour Market
The forex market is a loosely connected network of international banks; therefore, the market never closes from Sunday evening until Friday afternoon. Liquidity simply flows from financial center to financial center as time zones open and close business operations for the day. This is a huge advantage for small, retail traders because those who still have full-time jobs can trade at night.
Small Initial Account Size
Traders can open accounts with as little as $1 at some brokers, and then trade positions where each 1 point movement is equivalent to $0.01 (in the U.S. this would be lower since the leverages are capped at 1:50). This will obviously never get a trader rich, but it does allow traders a very low risk entrance into the market. Traders generally need $20,000 in order to day trade the stock market. This very low account size at an online forex broker is a big draw for many traders.
Long Trends
The currency market tends to develop very clear, long trends. It is not uncommon for specific currencies to head in the same direction for 5+ years. Of course, there are many dramatic price swings that make real-time trading difficult and challenging, but a quick look at longer-term currency price charts makes it clear that currencies develop strong trends.
Macro Economics
The currency market is very big picture-based. This means there are not a million and one little things that a trader has to track as is common in other financial markets. Currencies react to major macroeconomic developments around the world. Seasoned fx professionals argue that this makes the job of economic analysis much different in the currency market.
Continued Growth and Volatility
The foreign exchange market is expected to continue to grow in coming years, and volatility is expected to remain quite strong as the world continues to move toward a more globalized economy. As globalization continues to change the world economy, investor interest in currencies will most likely continue to grow steadily.
Jason’s commentary: I’ve never looked into forex trading, mostly because I’m not in the “invest & grow rich” stage of my financial life. Have you invested in the forex market?