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The no-pants guide to spending, saving, and thriving in the real world.

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Don’t Screw Future-You

Finance, Life

A conversation between me and my temporally displaced self.
Future Me: Excuse me, Jason?
Me: Yes?
FMe: <Slap!>
Me: May I ask what that was for?
FMe: Of course.
Me: What was that for, jerk?
FMe: That was payback for all of the hell you have put me through.
Me: What?!?  I’ve never even met you, before.
FMe: Of course you have.  I am future-you, and I’m sick of getting screwed by past-me, that is, you.
Me: Huh?
FMe: Listen close.  You’re not  the sharpest brick in the box and I don’t want to explain this twice.
Me: ???
FMe: A long time ago, when you first met our wife, you were dumb.
Me: I don’t appreciate….
FMe: Shut up.  I was dumb then, too.  Remember?  You…err…we bought a new truck, built an addition on our…err…your…err…whomever’s house, got married in the same year.  On top of many other expensive decisions.  Do your recall?
Me: Yes, I do.  So what?
FMe: If that wasn’t enough, you and your smoking-hot bride are still shopping like you’re rich. You drive a new car.  Your kids wear new clothes.  You’ve got a house full of new furniture.  How did you pay for all of that?
Me: Naturally, I charged it.  Zero payments, zero interest for a year!  Pretty smart, huh?
FMe: What happens in a year?
Me: I don’t know.  I’ve got a full year to figure that out.
FMe: <Slap!>  I’ll tell you what happens!  Future-you, that’s me, gets screwed!   Your raise didn’t come through.  You had a baby. The truck broke down.  Your wife took maternity leave.  A roommate moved out.  You took a loss in the stock market.  You didn’t plan!  You had no savings to cover any of those problems because you were too busy servicing debt to pay for your current life.
Me: How was I to know?
FMe: <Slap!>  Life happens!  You never know what is coming next.  You need to plan and save for what might happen.  Otherwise, you’ll just accumulate more debt to be serviced by yours-truly.  That is not acceptable.
Me:  So?  What are you going to do about it?
FMe: <Slap!>
Me: Really?  Again?
FMe: <Slap!>  I’m struggling to pay your debt. Your son starts college next year, but you’ve left me completely unable to help.  Your daughter wants to get married in a couple of years, but the Father-of-the-Bride can’t afford a tux.  My wife, your beatiful bride, wants a vacation that I can’t afford.   You’ve screwed me, dude.
Me: I’m sorry.  What can I do to fix it?
FMe: Buy me dinner, first.
Me: Huh?!?!?
FMe: Stop the excess spending. Spend less than you make, for a change.  No credit.
Me: None?
FMe: None.  Nada.  Zip.  Zilch.  Only spend what you can afford. Budget.  Pay off those nasty bills.  Don’t leave me hanging.
Me: So, what you’re saying is that, if I don’t have the money, I shouldn’t buy it?
FMe: Exactly.  That’s the path to wealth, freedom, and financial independence.  Live in the real world.
Me: Gee, thanks, Future-Me!  Now I know.
FMe: And knowing is half the battle.

What would your future-you have to say to you?

 

Make Extra Money Part 1: Introduction

Business, Finance

Wordle Cloud of the Internet Marketing Blog - ...
Image by DavidErickson via Flickr

Today, I’m re-launching a new series on how I make extra money online.   This series fell off my radar for a while.  I intend to finish it now.

Right now, I have 7 sites promoting specific products, or “niche” sites.  When those products are bought through my sites, I get a commission, ranging from 40-75%.  Of those sites, 5 make money, 1 is newly finished, and 1 is not quite complete.   I’m not going to pretend I’m making retirement-level money on these sites, but I am making enough money to make it worthwhile.

Over the course of the series, I’m going to show you how to take advantage of multi-million dollar market research to choose a niche, at no cost to you.    You’ll see how I choose a domain name, where to find products to sell, and how to promote your new site.

As I write the series, you’ll get to see exactly what is working, as it’s happening.   I’ll be choosing the niche as I write the post on choosing a niche.   As of this writing, I don’t know what niche I’ll be promoting, what product I’ll be using, or what keywords I’ll be targeting.    This will be a live, totally transparent case study of how I make extra money.

Before we get started, I need you to understand a few things.

First, this is not overnight money.   My first niche site took 6 months before it made me a penny.   That was partially because my product selection research was faulty, but also because these things do take time.     I’ll show you how to pick a niche and product that won’t take that long, but you can’t expect to quit your job tomorrow.

Second, this is work.   Once everything is established and optimized, it won’t be a lot of work, but it will take time to do.   There is no such thing as “set it and forget it” internet marketing.  Anybody who tells you otherwise is selling you something you won’t be satisfied with.

Third, this isn’t free.  I’m not going to charge you anything, but some parts of this will cost money to do effectively.   I’m not a fan of throwing money away, so I won’t be suggesting anything outrageous.  If I do recommend something that costs money, I will try to recommend a free or very cheap alternative, but that won’t always be possible.    I started out slow and cheap, but now, when I launch a site, I spend some money to do it quickly and effectively.  I am a fan of paying others to do the things I dislike doing.

That’s the plan.  I’m going to tell you how I make extra money online, and I’m going to let you look over my shoulder while I set up my next site, start to finish.

Any questions?

Any comments on how you make extra money online?

 

 

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Saturday Roundup – Happy New Year!

Misc

This week, my daycare provider has taken off to have surgery.   That means I have 10 days off in a row.  I haven’t done that since I was laid off at my last job, four years ago.  I’m really looking forward to the time with my brats.

Happy New Year!  Here’s hoping 2011 beats the pants off of 2010, no matter how 2010 went for you.

Best Posts

Free From Broke has a monster post with the best personal finance articles of the year.  If you need something to read….

Lifehacker posted about a service that will grade and critique your resume for free.  I’m not looking for a new job, but it looks like a great service.

Have you ever considered the similarities between hookers, doctors, and TSA agents?

Here’s an interesting analysis of the huge stimulus package that was supposed to revive the economy.  With all of the red tape and deadlines involved in getting the stimulus money, only projects that were going to happen anyway and already had permits and approval actually happened.   Private enterprise held off starting projects, hoping to get stimulus funding, only to find out they couldn’t possibly jump through the hoops in time, which is when they lost investors.   Huge fail with nothing accomplished beyond packing a ton of taxpayer money in a fat .gov bong and watching it go up in smoke.

LRN Timewarp

This is where I review the posts I wrote a year ago.

I wrote a post on the dangers of hypocrisy.   It’s a good post to re-read whenever I start feeling judgmental.

I also started my budget series.   Lesson 1 detailed my discretionary budget category.

Finally, I asked what you’ve done to improve your situation.  Every day, you can do something.  It may not be a big thing, but even small steps in the right direction will get you where you need to be.

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.

That’s all for today.   Have a great weekend!

Twitter Weekly Updates for 2010-01-30

Misc

  • Bad. My 3yr old knows how the Nationwide commercial ends…including the agent's name. Too much TV. #
  • RT @MoneyCrashers: Money Crashers 2010 New Year Giveaway Bash – $9,100 in Cash and Amazing Prizes http://bt.io/DZMa #
  • Watching the horrible offspring of Rube Goldberg and the Grim Reaper: The Final Destination. #
  • Here's hoping the franchise is dead: #TheFinalDestination #
  • Wow. Win7 has the ability to auto-hibernate in the middle of installing updates. So much for doing that when I leave for the day. #
  • This is horribly true: Spending Other People's Money by @thefinancebuff http://is.gd/75Xv2 #
  • RT @hughdeburgh: "You can end half your troubles immediately by no longer permitting people to tell you what you want." ~ Vernon Howard #
  • RT @BSimple: The most important thing about goals is having one. Geoffry F. Abert #
  • RT @fcn: "You have enemies? Good. That means you've stood up for something, sometime in your life." — Winston Churchill #
  • RT @FrugalYankee: FRUGAL TIP: Who knew? Cold water & salt will get rid of onion smell on hands. More @ http://bit.ly/WkZsm #
  • Please take a moment and vote for me. (4 Ways to Flog the Inner Impulse Shopper) http://su.pr/2flOLY #
  • RT @mymoneyshrugged: #SOTU 2011 budget freeze "like announcing a diet after winning a pie-eating contest" (Michael Steel). (via @LesLafave) #
  • RT @FrugalBonVivant: $2 – $25 gift certificates from Restaurant.com (promo code BONUS) http://bit.ly/9mMjLR #
  • A fully-skilled clone would be helpful this week. #
  • @krystalatwork What do you value more, the groom's friendship or the bride's lack of it?Her feelings won't change if you stay home.His might in reply to krystalatwork #
  • I ♥ RetailMeNot.com – simply retweet for the chance to win an Apple iPad from @retailmenot – http://bit.ly/retailmenot #
  • Did a baseline test for February's 30 Day Project: 20 pushups in a set. Not great, but not terrible. Only need to add 80 to that nxt month #

First 3 Things to Do in the New Year

Finance

April 6 - Now
Image by iowa_spirit_walker via Flickr

With the new year looming, it’s the perfect time to review the things that may not have gone as well as planned in the current year, and plan ahead for the coming year, to make sure things go well from now on.

To get a good start in the new year, you should focus on three things.

1.  Budget.

A good budget is the basis of every successful financial plan.   If you don’t have a budget, you have now way of knowing how much money you have to spend on your necessities or you luxuries.  Do you really want to guess about whether or not you can afford to get your car fixed, or braces for your kid?   I’ve gone over all of the essentials to make a budget before.  Now is the perfect time to review that series and make sure your own budget is functional and ready for the new year.

At the same time, spend some time thinking about how your what has gone wrong with your budget over the previous year.   In my case, when we got back from vacation in August, our mindset had changed a bit about spending money, and we got out of the habit of staying strictly on budget.   By the time we got back on track, it was Christmas and our plans got shot, again.   If it weren’t for my side hustles–money that I don’t track in the budget because the money isn’t consistent, yet–we would have had some serious problems this fall.   Where have you gone wrong, and what could you do to improve next year?

2.  Credit Cards and New Debt.

In the new year, if you haven’t already done so, make sure you throw your credit cards away.   The most basic law of debt reduction is, “If you don’t stop using debt, you’ll never be out of debt.”   That’s why you need to set up your budget first.  Make sure that your expenses are less than your income, so you can make ends meet without having to charge the difference.

How has your debt use worked out over the last year?  Have you used it at all, or have you eliminated the desire to pay interest?   What have you used your credit cards for?  How much of that could you have done without?

3.  Estate Planning.

Now is the time to make sure that all affairs are in order, if the worst should happen.   If you die, what happens to your money?  Your kids?   I’ve gone over everything you need in an estate plan before, so I won’t beat that horse again.    You owe it to your family to make sure they are taken care of if something should happen to you.   At a bare minimum, write a will and get it notarized.

Have you putting off writing your will?   You know you need one, but it’s a morbid thought, so it’s easy to put off, right?  Get over it.  If you love your family, you’ll do better and get your affairs together next year.

That’s a good financial start for 2011.   What are you missing in your financial life?

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Over-scheduled

Life

Busy Icon
Image via Wikipedia

Wow. I’m having a hard time believing it’s August already.  Every year seems to slip by a little faster, but this summer has truly flown by, somehow without anything to show for it.   I haven’t gotten any of the yard work or household projects finished.   I’ve taken on so much that I can’t do anything but the side hustles.

This summer, I’ve been busy.  I teach classes one Saturday each month, I’ve picked up a couple of web design jobs,  I’m the webmaster for a nonprofit, and I’ve taken on an affiliate marketing project.    Oh, and I can’t forget my 50-hour-per-week day job or the ebook I’ve promised to help prep and launch.  With all of these projects, my cash flow situation is better than its been in a while, but my time is seriously crunched.

That’s not even counting the family activities.  We’ve had swimming lessons, birthday parties and family reunions…all in the last month.

Our family is seriously over-scheduled.  It seems like there is no downtime, which is a situation I’ve always tried to avoid in the past.   Somehow, I’ve lost the ability to say “no”.   Because of that, I’m now left with the impossible task of trying to scale back.  While I can’t abandon my commitments, I need to work towards resolving them all and not taking on more.

[ad name=”inlineleft”]It’s time to scale back through attrition.   In a month or two, I should be down to a sane schedule again, and able to tackle the things I really want to do that have been indefinitely delayed.

Everybody takes on too much at times.  How do you avoid over-committing?

  • Learn to say no. It is okay to refuse to take on more projects.   You probably aren’t the first person to turn down the project and you probably won’t be the last.  Don’t assume its your responsibility.  It is fine to leave it for someone else.
  • Prioritize. Don’t prioritize your projects, prioritize yourself.  Know what you need to accomplish.  Know what you want to accomplish.  Deny the things that other people want you to accomplish if the new tasks don’t fall into the first two categories.   You need to feed your family.  You need to pay your bills.  You don’t need to take on the soccer team’s newsletter or volunteer to make 1000 cupcakes for some fundraiser.
  • Know your commitments. Most people overestimate how much available time they have while underestimating how long a new project will take.  This leaves them double-booked.  Take a realistic look at what you are currently doing, even if it means keeping a log of your day for a few weeks.  You’ll probably be surprised by what you are already doing.
  • Stay organized. If you aren’t keeping track of what you need to do, you’ll end up running around crazy trying to get it all done.  Keep a calendar and leave yourself notes.    I get daily reminders of what is on my Google calendar each morning.
  • Know your limitations. If you aren’t technical, don’t volunteer to build a website.  Do your strengths, let someone else deal with the things that are your weaknesses.

It’s entirely too easy to do too much.  When every moment of your day has two of more things that need to be done, you’ll do them all poorly.  How do you avoid taking on too much?