- Uop past midnight. 3am feeding. 5am hurts. Back to bed? #
- Stayed up this morning and watched Terminator:Salvation. AWAKs make for bad plot advancement. #
- Last night, Inglorious Basterds was not what I was expecting. #
- @jeffrosecfp It's a fun time, huh. These few months are payment for the fun months coming, when babies become interactive. 🙂 in reply to jeffrosecfp #
- RT @BSimple: RT @bugeyedguide: When we cling to past experiences we keep giving them energy…and we do not have much energy to spare #
- RT @LivingFrugal: Jan 18, Pizza Soup (GOOOOOD Stuff) http://bit.ly/5rOTuc #budget #money #
- Free Turbotax for low income or active-duty military. http://su.pr/29y30d #
- To most ppl,you're just somebody [from casting] to play the bit part of "Other Office Worker" in the movie of their life http://su.pr/1DYMQZ #
- RT @MoneyCrashers: Money Crashers 2010 New Year Giveaway Bash – $8,300 in Cash and Amazing Prizes http://bt.io/DQHw #
- RT: @flexo: RT @wisebread: Tylenol, Motrin, Rolaids, and Benadryl RECALLED! Check your cabinets: http://bit.ly/4BVJfJ #
- New goal for Feb. 100 pushups in 1 set. Anyone care to join me? #
- RT @BSimple: Your future is created by what you do today, not tomorrow"— Robert Kiyosaki So take action now. #
- RT @hughdeburgh: "Everything you live through helps to make you the person you are now." ~ Sophia Loren #
- Chances of finding winter boots at a thrift store in January? Why do they wear our at the worst time? #
- @LenPenzo Anyone who make something completely idiot proof underestimates the ingenuity of complete idiots. in reply to LenPenzo #
- RT @zappos: "Lots of people want to ride w/ you in the limo, but what you want is someone who will take the bus w/ you…" -Oprah Winfrey #
- RT @chrisguillebeau: "The cobra will bite you whether you call it cobra or Mr. Cobra" -Indian Proverb (via @boxofcrayons) #
- RT @SuburbanDollar: I keep track of all my blogging income and expenses using http://outright.com it is free&helps with taxes #savvyblogging #
- Reading: Your Most Frequently Asked Running Questions – Answered http://bit.ly/8panmw via @zen_habits #
Decision Making Made Easy
Have you ever had to make a difficult decision? Not necessarily a decision that’s difficult because it’s life-changing, but a decision that’s difficult because there are two phenomenally wonderful, yet mutually exclusive options?
For example:
- Should you put caramel or strawberry sauce on your ice cream?
- Should you go to Disney Land or Disney World?
- Should you subscribe to Live Real, Now by email or RSS?
- Should you take the job with the stellar benefits package or the higher salary?
These are all real decisions that you may be called on to make.
For most decisions, there are some alternatives that are easy to discard.
MadDog 20/20 isn’t a good alternative to caramel sauce on your ice cream. The local BDSM museum probably isn’t a great choice for a family vacation. Sending me hate mail is obviously worse than subscribing.
Then you’ve got some choices that are both okay, but one is clearly better. You’ve got free airfare and hotel. Do you go to Topeka, or Paris? Neither is horribly, but I think the choice is obvious. You’re going out to dinner. McDonald’s or…nevermind, this fits the first category.
After you’ve discarded the obvious bad choices and the okay-but-not-great choices, how can you decide between what’s left?
This is the point that starts to cause stress. What if you make the wrong choice? What if you regret it forever? What if you’re still not happy? Gridlock.
The reason your stuck is because it’s not apparent which is the better choice. All of your experiences and knowledge are telling you–on some level–that the options are identical in terms of your life, happiness, and goals. It truly does not matter which one you choose. You will probably be equally happy, either way.
Given that it doesn’t matter, you have two choices for making the final decision:
- Pick the one you want. The rational decision is a tie, so make it an emotional one. Does one job match your dreams, but with a bit more risk? Has one vacation destination been a goal since you were little? Do it!
- Flip a coin. If the decision doesn’t matter, leave it to fate. That way, if it doesn’t work out, you can always blame the quarter.
The one thing you don’t want to do is wait. Failing to decide is still a decision and one that is guaranteed to keep you from being satisfied with your choice. Don’t wait until you have all of the possible information, because that kind of perfect world doesn’t exist. Get to about 85% of fully informed and run with it. You’ll usually be happier making a decision–even the wrong one–than sitting back wondering “What if I had done that?”
How do you make hard decisions?
Sammy’s Story, Part 4
If you haven’t been following along with Sammy’s story, please take a few minutes to do so here, here, and here.
We left off in September, with the yard done and the house almost ready to rent. Sammy and his guys worked their butts off getting the work done. It cost more than we had expected, but it got done.
Over the winter, we hired the crew to handle the snow at both of our properties. We paid Sammy a flat fee and he made sure the driveways and sidewalks were clear every time it snowed. We started paying him in November, and ran through until March, so he got a pretty good deal and we didn’t have to worry about the snow.
When spring came, Sammy told me he needed to take a break from his business. Putting a yard care business on hold when spring hits is a bad idea, but it happened. He was dealing with some problems with his housing and couldn’t focus on anything else, even though the money would have helped him a lot.
When he lost his apartment, we let him store some of his things in the extra garage stall at the rental. This stall was reserved in the lease for us to use, and was the base of operations for the yard care business, since he was using our lawn mower and snow blower anyway.
And that was the last we saw of him for a month.
When we started nagging him to take care of his stuff, he kept telling us that he wanted to keep his business going, but he couldn’t, yet.
Then he’d leave his stuff for another month.
By the end of the summer, he’d gotten most of his stuff out and we’d only hear from him if he thought he could borrow money from us, which didn’t happen.
Finally, my wife called him and told him to get his crap out by the end of September.
Or else.
A week into October, we found out that he’d spent September in jail. Supposedly, he broke up with his(literal) crackhead girlfriend and she called the police and made up stories. He got arrested and couldn’t make bail.
Last week, he came to borrow our trailer to get the last of his stuff out, then returned it in the evening without moving any of his stuff. He said he was moving the stuff he had stored elsewhere and he’d be back on Monday.
Monday? Nothing.
Our relationship with Sammy has gone from helping him launch a business that helps fatherless teens, recovering crackheads, and the homeless to lies and getting begged for money.
My wife is ready to put his stuff on the curb.
What would you do? Toss his stuff? Give him another chance?
Saturday Roundup – Side Hustles Rock
- Image via Wikipedia
We’re busy cleaning for our party next weekend, followed by spending an evening lying in a coffin in my yard, scaring the crap out of kids and giving them candy.
The best posts of the week:
Right now, I am actively pursuing 4 separate side hustles, 3 of which are generating actual cash. It’s about $500 a month at the moment, but each of them are growing. My goal is to hit $1500 a month by spring and have full replacement income within 2 years. Everybody should have some kind of side income, just as a safety net.
One of my side hustles involves training in a niche with 200 companies competing for about 10,000 one-day students each year. I could try to compete on price, but that’s an arms race to bargain-basement pricing. Instead, we compete on value, and as such, we’re on track to bring in several multiples of our share of students this year, with growth projected to go well beyond that next year.
Knowing how much more I enjoy my side projects over my straight job, I want to encourage my kids to develop their own lines of income that will allow them to live the lives they want to live, without being a leech on society.
If they can start to get some of their own income, they can learn the value of the things they own, instead of assuming that everything is free. I will not spoil my kids.
Finally, a list of the carnivals I’ve participated in:
Actions Have Consequences has been included in the Festival of Frugality.
If I missed anyone, please let me know. Thanks for including me!
Single Income Family
Effective next week, we are officially a single-income family.
If you can count all of my side-hustles as “single income”.
This week, my wife did the paperwork for her final week of state-sponsored unemployment. She also applied for the federal extension, but that’s not automatic.
In a nutshell, this reduces our monthly income by $1340.
What does that mean for us?
1. Our truck, which I was hoping to have paid off by March(3 months ago), still has about 7 regular-sized payments left. Instead of making double payments, we’re now making the schedule amount. The reason for the payoff delay is another post entirely. Savings: $400. In a pinch, we could stop making payments for almost 3 years due to how much we’ve already paid.
2. The riding lessons I use to spoil my girls are cut in half. Instead of weekly lessons, we’re going bi-weekly. Savings: $100. In a pinch, this could go away completely.
3. We had a conversation that included, “Honey, when I complain that you bought more than our weekly budget of food in one trip, I’m not being a dick. Here’s how much money we have.” That conversation appears to have been productive.
4. No vacation this year. We let our spending jump a couple of times this year, so last week, I dropped most of our vacation fund to make up for it. The expense of being matron-of-honor at a wedding will be an upcoming post, too.
[Edit]
5. My wife is working at our daycare provider 2 days per week in exchange for daycare discounts. Financially, this isn’t perfect, but it cuts the cost and gets the girls out of the house. I work from home and have a hard time keeping them out of the office.
6. We are considering long-term stay-at-home status for my wife.
[End Edit]
Right now, our budget says we make $100 more than we spend. That includes all of our savings goals, and setting aside money for some luxuries like our Halloween party. We’re not hurting–which makes me happy–but we do have to watch our expenses in a way that has just become mandatory.
I can’t tell you how happy I am to have renters. Between our roommate here and the renters in the house we fixed up last year, we’re adding about $1000 to our income. Rent is keeping us cash-flow positive.
Sunday Roundup: 30 Day Project, January Wrap-Up
- Image via Wikipedia
30 Day Project Update
This month, I am trying to establish the Slow Carb Diet as a habit. At the end of the month, I’ll see what the results were and decide if it’s worth continuing. For those who don’t know, the Slow Carb Diet involves cutting out potatoes, rice, flour, sugar, and dairy in all their forms. My meals consist of 40% proteins, 30% vegetables, and 30% legumes(beans or lentils). There is no calorie counting, just some specific rules, accompanied by a timed supplement regimen and some timed exercises to manipulate my metabolism. The supplements are NOT effedrin-based diet pills, or, in fact, uppers of any kind. There is also a weekly cheat day, to cut the impulse to cheat and to avoid letting my body go into famine mode.
I’m measuring two metrics, my weight and the total inches of my waist , hips, biceps, and thighs. Between the two, I should have an accurate assessment of my progress.
Weight: I have lost 22 pounds since January 2nd. That’s 2 pounds since last week.
Total Inches: I have lost 11.5 inches in the same time frame, down 1.5 since last week.
I’m sad. I’m only down 2 more pounds this week. On the other hand, I’m averaging almost a pound a day without exercising. I’m on a new belt loop and I’ve actually lost a ring size. I’m going to keep this up for another month. That’s the beautiful thing about 30 Day Projects: A month isn’t an intimidating length of time. My goal for next month is to drop another 20 pounds.
That said, this is a pretty easy diet to follow. If I get a hankering for a candy bar on Wednesday, it’s far easier to tell myself to wait 3 days than it is to tell myself that it will never happen. Moderation has never been my strong suit. It’s far easier for me to set some solid rules that give me a built-in outlet.
Best Posts
Do you really want to tie yourself down for the next 30 years. Sandy doesn’t, and I agree. 30 year mortgages suck.
Trent lists seven common bills and ways to save on each.
Free From Broke ran a guest post from Melissa on how–and why–to freeze your credit.
Larry Correia’s new book, Hard Magic, is available as an Early Advanced Read Copy from Baen Books. That means you can read the book before it is published. It’s not quite as polished as the final, but still quite good. I’ve read the first 7 chapters and am looking forward to reading the final version.
LRN Timewarp
This is where I review the posts I wrote one year ago.
In Make Yourself Accountable, I list several ways to achieve your goals, primarily by getting other people involved, either to talk you down or to participate in your public humiliation if you fail.
In 6 Questions, I reveal the details of how I manage my finances. The only one that has changed in the last year is #1. We have moved back to our debit card now that we’ve established better habits.
I also wrote a post about preparing your children to deal with their finances. The most important one is to teach delayed gratification. Yesterday, my son finally had enough money to buy himself a PSP, after saving for it for months. He earned it and he is incredibly thrilled to have it.
Carnivals I’ve Rocked
What Happens When You Save was an Editor’s Pick at the Totally Money Carnival. Thank you, Crystal!
5 Steps to Save was included in the Carnival of Personal Finance.
Thank you! If I missed anyone, please let me know.
Get More Out of Live Real, Now
There are so many ways you can read and interact with this site.
You can subscribe by RSS and get the posts in your favorite news reader. I prefer Google Reader.
You can subscribe by email and get, not only the posts delivered to your inbox, but occasional giveaways and tidbits not available elsewhere.
You can ‘Like’ LRN on Facebook. Facebook gets more use than Google. It can’t hurt to see what you want where you want.
You can follow LRN on Twitter. This comes with some nearly-instant interaction.
You can send me an email, telling me what you liked, what you didn’t like, or what you’d like to see more(or less) of. I promise to reply to any email that isn’t purely spam.
Have a great weekend!
