Category: Money Attitudes

Should the Financial Engine of the World be in New York?

Hurricane Sandy has had a terrible toll on lives and property and the misery will last for many months to come. Since 911 this is the second time the New York Stock Exchange has been closed for more than a day-granted, both of these were extra ordinary events but maybe it’s time to rethink having the financial engines of the world concentrated in New York…

When I first started with Merrill Lynch we trained in the Twin Towers and everything was so close and convenient; the exchanges, investment bankers etc. From 911 we have learned that terrorists all around the world have also made this observation-does it really make economic sense to have all of our financial centers clustered together? Read more »

Don’t Indulge. Be Happy!

I saw an article in the New York times called Don’t Indulge. Be Happy. The article asks a very straightforward question: How much money do you need to be happy? Think about it. What’s your number? Elizabeth Dunn, an associate professor of psychology at the University of British Columbia and Michael Norton, an associate professor of business administration at Harvard Business School, are the authors of the forthcoming book  called “Happy Money: The Science of Spending.” Read more »

From $150,000 a Year to Starbucks

Good Luck!

Mandi Woodruff of Business insider has an article that really caught my eye. It’s titled How a Former Currency StrategistWent from $150K/Year to Serving Lattes at Starbucks.

This article really brought back memories for me-for years I went around the country giving Rollover seminars to folks who had just been down sized, laid off or cast aside.. It’s during this time that I learned how much more clever and flexible women are when they are laid off! Read more »

Have You Done a Credit Check on Your Fiancee?

Do You Take advice from Complete Strangers?

I was doing my bit to stimulate the economy today while shopping at Target-just some odds and ends. I’m walking down the bath and body soap aisle, yes, I still believe in using soap when I noticed a woman smelling the body soaps and looking perplexed. I casually said lot’s of choices.

She looked at me and said I’m buying this for my fiancee, most of these are pretty much in your face! I suggested one that I have used in the past and kept for guests to use as well. Then I said:

Well, have you done the obligatory background and credit check-just jokingly. She said no, we’re so compatible but why do you suggest the credit check? I told her I was just being a smart aleck however, if there is one thing that can cause immediate marital problems it’s all about the finances.

I suggested if I were ever to get married again; I would want to know where my second starter wife to be, was financially and more importantly, do we have similar views and practices on money matters. She thanked me, and told me that was one suggestion she was going to take from a total stranger in the aisles of Target! We then went our separate ways…

Would you give similar advice to a complete stranger? Has this issue ever crept up quickly in your relationship?

Be a Millionaire and Enjoy It!

I read an article by Paul Farrell titled 10 Secrets to Being a Millionaire and Enjoying It! Here’s a summary of his major points.

1. Getting rich isn’t about money.When 5,000 millionaires were interviewed they spent an average of just 6 minutes a day on personal finance. They have better things to do.

2. Think different. Go where ther’s a unique opportunity that fits your unique talents. Don’t fit in, go your own way.

3. Accentuate the positive. According to a Special Forces instructor:

If you have a guy with all the survival training in the world who has a negative attitude and a guy who doesn’t have a clue but has a positive attitude, I guarantee you that the guy with a positive attitude is coming out of the woods alive.

4. Quit doing what you hate. Marcus Buckingham said:

Figure out what you don’t like, then stop doing it.

5. Do what you love. The really brilliant millionaires are those who selected a vocation that they love.

6. Find the “real you”. Get in sync with the real you. You may discover that through books and career counselors.

7. Invest in “You Inc.” Most millionaires work for themselves, pay less taxes and build equity in themselves.

8. Live with passion. Believe in something! Listen to the still small voice. What really ignites your passion?

9. Live in the moment. Warren Buffett once said:

I get up every day and have a chance to do what I love to do, every day.

10. Make a difference. Millionaires dream of making the world a better place, with visions of a better tomorrow for everyone.

Nothing earth shatterin here but I really did enjoy reading this article and he makes excellent observations. My take on these observations:

1. I’ve noticed that for many who just concentrate on the money-never really achieve being a millionaire or if that’s there total focus-they have no life balance whatsoever and are miserable!

2. I love his second point. I’ve meant many millionaores who just built a better product or enhanced products by thinking defferently.

3. Accentuate the positive-this is so true. Negative people suck all the energy out of those around them and are too negative to be successful. Avoid them at all costs.

4. We’ve all done something we hate. The question is this: do I have the guts to change. There can be some short term pain but it can be the best thing in the world, long term.

5. Doing what you love is probably the singlest biggest step towards success.

6. I think of all his observations-this is the toughest one by far! The real you is there but you may have many jobs, read many books and talk many hours to career counselors but it’s worth it! Dig deep and find the real you!

7. Investing in yourself is one of the scariest and sometimes one of the most difficult decisions but look for inspiration from others. I can think of Crystal and her husband, and Flexo right off the top of my mind!

8. Live with passion-or die! There is nothing worse than being around a person who has no passion, for anything.

9. Too many people are going to be happy and successful “if this” or “when” and then they wake up one day and realized they wasted their live and nver lived in the moment!

10. For those who truly make a positive difference the world and the associates around them are truly blessed. One of the proudest days of my life is when I invented an ergonomic crutch handle and took it to the market. The payoff was reading the letters of gratitude from those who loved the handle and it had changed their life.

Take the time to read the entire article and refer back to it frequently, it’s great advice!!


The Dirtiest Four Letter Word

Yeah…it’s the “D” word, you know, Discipline. It’s a beautiful day in Denver, Colorado and on my way to Starbucks I drove by Washington Park. I love Wash Park because it’s a piece of heaven in an asphalt jungle. Huge trees, great flowers, manicured grass and some of the best looking and fit men and women to be found in Denver! As I’m driving by I can’t help but notice that 98% of the men and women out running are mean and lean-where are all the Chubbies? I know Denver has them, cause I’ve seen them come into my office, Starbucks, in the morning and order the largest drinks with extra Carmel and whip cream! What I like about all the joggers in Wash Park is the fact that their work out is free and you can see and feel the comradery of the folks-they are all sharing the pain!

As I drive by Wash Park I feel so damn good-almost like I’m getting a great work out by osmosis; then I pinch myself and go to my gym for swimming. Same thing, most of the folks I see there are pretty fit-maybe the fat folks work out at different times?

It reminded me of an earlier blog post I wrote about Weight loss and Saving Money and Motivational Tips to Exercise-Save.  I think there may be a correlation between the two and it starts with that discipline thing! Specifically, think of all the people that have been in your life, starting in college, who were always dead broke! Fast forward-they now work with you and are in the lunch room complaining about being broke.

Here is my take away for those who truly want to break this cycle:

  • Read Personal Finance Blogs for tips and or motivation
  • Join an investment club at work or outside of work
  • Start with any investment plan that may be offered at your work
  • Open an online investment account
  • Make a budget
  • Put together a game plan to pay off your credit card debt-I know you have some 😉
  • Make a list before you go grocery shopping and stick to it
  • Never go grocery shopping when you’re starving- that’s why your butt is BIG and you’re broke!
  • Use coupons-there is absolutely no shame-it makes you look brilliant
  • Meet new people who share your new found passion for saving and being fit
  • Quit buying junk-email me if you need a clarification of junk
  • Quit thinking about yourself all the time-go volunteer at Children’s Hospital or one of my favorite charities, Ronald McDonald House Charities.
  • Start going to your Washington Park!

For all of my Personal Finance Blog buddies please comment and tell me what I’ve forgotten-except you Crystal. When Crystal tries to leave a comment, it gets “eaten”. Anyone else having this issue? What is causing this??

Last thing to all of you obese folks…you don’t look good! You are not going to live long and prosper. Ditto for all of those of you who choose to be broke!


I Won $48 in the Colorado Lottery

I Won the Colorado Lottery!

Yep, it’s true; I’m the proud winner of Saturday nights Colorado Lottery-I matched 4 of the 6 numbers. What did I do with my winnings? In my opinion, this tells allot about how we think about money and gives some indicators of future financial success….more later

I was recently reading an article by Budgeting in the Fun Stuff called Top Lottery Myths Debunked. We aren’t going to debunk any myths here but Crystal mentions: Read more »