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Trying to Save Money? Concentrate on Time

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Editor’s note: Hey, kids! We’re handing the spotlight to my good friend Miranda for today’s post. Check out her site for more about people struggling with the broken concept of work-life balance. – Joe

The best money savings tips are the ones that save you money. Clearly.

But since time is money, a tip that saves you both, is like a double expresso. Sort of like an “uber savings” tip.

How did I discover “uber savings”?  I write a blog called beyondworklifebalance.com

As a full time working professional, a mom to one, stepmother to three, framing my life in terms of achieving balance is absolutely NOT useful. I’m not a trapeze artist balancing work and life, on a wire, ready to be free falling, with a mere puff of wind.

I started to think about work and life in a more integrated way, and finding the complementarity in the things I do.

Here’s how this works:

Suppose I want to spend an hour exercising, and an hour catching up with a friend, and I have a toddler to take care of.  Instead of scheduling an hour at the gym, and then another hour at Starbucks with said friend, and then having to find a sitter to take care of the toddler, while at the gym and maybe at Starbucks too, I find another solution.

I take the jogging stroller, put my son in it, and meet my friend for a jog around the block. I save time driving to and from the gym. I save money by not having a gym membership. I save money by not hiring a sitter.  And as much as I like those double lattes at Starbucks, I save money there too. And since we’re running, theoretically, I don’t need the caffeine jolt to get going.

Here are a few others:
1. Walk two miles to work. Save money and time by not having to go to the gym.  Save money on gas and on parking. Oh, and lower the carbon footprint, too.
2. Double up dinner recipes and freeze. Save time since I don’t have to do get all the ingredients out and cook again. Pack my lunch for the next day and save money by not hitting the cafeteria. And maybe get a second dinner from the freezer on a night when the Little League baseball game goes into extra innings after a rain delay.
3. When I buy groceries, I use my debit card to get weekly cash and buy a book of stamps at the same time,  I save money on those naughty little ATM fees, and save time by not having to go to the post office.You get the idea.Some people will say, “isn’t this just multitasking?” I say no. I say it is finding out how these small, and sometimes, not so small, ways of saving money and time and can be complements of each other. It opens up a new dimension beyond just saving and beyond just work life balance.

4. Fill prescriptions online. Those who have monthly or weekly prescriptions to fill know how expensive and time consuming it can be. What I have found is that ordering these prescriptions online through a Canadian internet pharmacy saves me time and money. For starters, I never have to wait for my prescription to be filled. Secondly, ordering this medication online is much less expensive, as the Canadian government has put a cap on what pharmaceutical companies are allowed to charge. If you’re like me and need prescriptions regularly, this option is definitely worth considering.

 

What techniques do you use to save time? Let’s share some more money-saving ideas in the comments.

&bsnp;

4.14.12Miranda1143x4WEBMiranda Daniloff is a wife, mother to one and stepmother to three, university senior manager, a daughter, sister and sister-in law, friend, creative writer, former radio and television producer, who loves to read, run and cook. She started beyondworklifebalance.com to find a better way to integrate work and life. The idea of balance just stressed her out.
Photos: Strollers, Sergie Melki; Miranda, Martha Stewart
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Saving Money on Athletic Equipment: How Do You Lower The Cost?

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Todd is the co-founder and content manager at Fearless Men, a blog on Manliness that inspires men to grow strong, get fit, be wise, kick fear in the face and become a better man.

There’s no way to count how many pieces of athletic equipment are out there. They claim to burn fat, build muscle, and to make Chuck Norris appear in your bedroom. Or Sofia Vergara. Whoever you prefer.

Working out can be expensive. Whether you’re going to an expensive gym or buying paint buckets of protein powder, it’s a realm that you can easily blow cash on. Not that your health, wellness and nutrition don’t deserve the absolute best—that doesn’t mean that the best equals the most expensive.

For the anti-gym rat, the person who wants to build body strength and burn fat at home, here’s a comprehensive list on saving money on athletic equipment.

 

1. Free Weights, Bar Bells and Benches

 

If you’re allergic to the gym but want to gain muscle in a traditional manner (weightlifting) it’s hard not to lower the cost. Generally free weights equate to a cost of one dollar per pound. So if you want a pair of 25 pound dumbbells, you’ll need to spend $50. Two 50 pound dumbbells? Another $100. If you want to buy all the increments in between, you’re talking about spending mad cash.

Deals on this front can be found, but trust me, they will be quick and competitive.

Where you can save is the previously aspiring weekend warrior that bought a nice bench press set and weights to slap on it. Once they’ve used it three times it often then slowly gains a collection of dust for months or even years. That’s when you can find a good garage sale or Craigslist list deal if you can haul it away with a truck.

 

2. Treadmills, Ellipticals and Stationary Bikes

 

These megaton beasts will break a man or woman’s back, and their wallet.

If you prefer hitting the revolving pavement rather than braving the outdoor elements, purchasing a treadmill or elliptical machine may be ideal. And you don’t have to blow up Fort Knox to afford it either.

First you need to decide upon what piece of cardiovascular equipment you want. If you want something easier on the joints, go with an elliptical machine. If you want to practice your running skills, go with the treadmill.

There are other options as well, stationary bikes of course. If you don’t know what you enjoy and feel comfortable with, the best option for you is to get a free week-long membership at your local gym and try out the equipment several times. That’s a free way to self-review the product!

Next, look on eBay and Craigslist for what’s cooking locally and up for auction. Beware on eBay of shipping costs! It’s possible this could exceed what you’d actually pay for your exercise equipment.

Finally, look online and in the paper for deals at stores like Sears. They frequently want to get something off their floor. You can even give the store a call and see if a less-than-current display model is ready to be carted off. You could possibly enjoy a 30%-70% discount on a big ticket item.

 

3. Cable and Pulley Based Systems

 

Now this is a pretty broad category. Whether it’s Bow Flex, Total Gym, or some other pulley based system a washed up celebrity is selling, you can find a big win or a big loss when dealing for these.

It’s easy to look up the going rate for pulley based athletic equipment and compare that to deals on Amazon, eBay, and what people are listing in online classifieds.

Where you can go wrong is not knowing if the elaborate pulley system is fully functional. If one cord or pulley is misaligned, and you don’t know how to fix it, then you’ve bought a worthless piece.

These at home gyms can be dynamic and provide a lot of different toning exercises. Do understand that you run a higher risk if you buy it aftermarket of losing out because there is no valid warranty for you to call upon if it breaks.

 

4. P90X, RushFit, Insanity, and other video based exercise programs

 

Many of these programs require minimal or no actual athletic equipment. You may need to buy some resistance bands or a pull-up bar, but investment aside from the DVDs is commonly minimal.

Expect to spend $80-$150 for a DVD series like P90X or RushFit. This can save you a large amount of money on athletic equipment compared to a treadmill, tons of free weights, or a cable-based system.

Many of these videos will challenge your cardio, and help you tone your muscles. They can build overall athleticism. But don’t be fooled in their ad pitch that you’ll gain enormous muscle if that is what you are aiming for. The guys on the box art or the infomercial most certainly hit the weights aside from doing pushups in the videos.

 

Saving Money On Athletic Equipment

 

If your goal is to grow healthier and more active within the comfort and safety of your home, I salute you. I’ve done P90X before at home and it did help me on my journey back to fitness. If I lived in a cold state I have no doubt I’d be on the market for a treadmill. Whatever you do, invest your money into something you know is in good condition. And ensure you invest in something you are committed to using!

[Image credit Luc Latulippe / http://dribbble.com/luc]

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5 Ideas That Shaped My Career

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Reading can be the difference between a good career and a great one. How are you taking control?

Last week I went all “Joe Negative” with my 5 pieces of bad advice from investment gurus. The goal with that piece wasn’t to be argumentative…it was to help people realize that no advisor is infallible, and although starting with the guru is good, finishing with your own plan is better.

This week, to prove just how optimistically positive I can be, I thought it’d be great to review the top 5 pieces of career advice I’ve ever read from the popular press. Sure, some of these are from pop self help books, but these lessons have proven their weight during my career:

 

5) The concept of “Move and Fire” – Marine Corps Book of Strategy

While I’ll agree that the concept of business as battle is often overplayed, the idea of “move and fire” is a valuable weapon for a businessperson. Often, I’d want to either respond to a client request or work on improving relationships. By quickening the tempo of my communications with clients, surprising them with data when they didn’t expect it, and advising them on areas where they didn’t realize I was an expert, I was actually able to decrease my overall workload because I wasn’t getting silly requests on client terms. The “battlefield” of my career began to be dictated on my terms.

I also realized that to grow the business I couldn’t be one-faceted. I had to attack from all angles. That’s when my media blitz began and I gathered as many television, radio and print opportunities as possible. By moving and firing, instead of going slowly, I pushed past many people who waited for someone else to throw them a chance.

 

4) “The past doesn’t equal the future” – Tony Robbins (Awaken the Giant Within)

In business, you need to have a short memory or you’re dead. I saw many workers in all of my jobs (from high school through financial planning) who couldn’t get over the time they’d been passed over for a raise, the undeserved reprimand from a boss, or the tongue lashing from a client. Get over it.

I also experienced a phenomenon with young workers who couldn’t grasp concepts and refused to learn about them. I’d recommend listening to podcasts, reading work related blogs and books, or watching videos. Often, I was surprised to hear, “Yeah, I don’t really do that stuff.” Instead, they seemed to think that it was management’s job to teach everything you need to know to have a successful career.

Don’t wait on your manager to make you great. Just because you weren’t a reader yesterday doesn’t mean you aren’t today. Just because you were loud and brash at work doesn’t mean you have to be tomorrow. Just because you don’t dress appropriately for work doesn’t mean you’ll forget the tie tomorrow. The past doesn’t equal the future indeed.

Another related concept that nearly made this list was Tony Robbin’s assertion that success increases as you make decisions faster. While people often avoid decisions for fear of “being wrong,” Robbins pushes readers to click at a faster rate. Your brain will find ways to make your decisions better.

“I’ve failed more often than the average person has tried.” Donald Trump

 

3) Beware “The Monkey” – Ken Blanchard (One Minute Manager Meets the Monkey)

While the whole One Minute Manager series was a little short on great ideas, the concept of “the monkey” helps great people accomplish more without becoming bogged down in irrelevant tasks.

Here’s the monkey: a co-worker walks into your office with a problem….we’ll call the problem “the monkey.” Instead of saying, “I’ve got a problem I need you to help me with,” co-worker says:

“We have a problem.”

The second that you agree that “we” have a problem, one of the monkey’s arms is around your shoulder. When you say, “I’ll take care of it,” the friend leaves your office and you now own a monkey while the friend is free of the problem.

Once I began to recognize “the monkey” and learned to say, “Let me help YOU with YOUR problem,” my life became much simpler because I never took “the monkey” on my shoulders. I could work on my own monkeys without inadvertently taking on everyone elses’…a common problem for achievers.

 

2) Remember “the Goal” (The Goal)

While the One Minute Manager didn’t wow me, The Goal by Eliyahu Goldratt completely bowled me over. I can explain the concept here in a couple of sentences, but I won’t be able to convey the magnitude of how much this change in perspective increased my ability to achieve.  In essence: many people measure results in areas other than the one that matters: throughput. If I can increase the speed of something that doesn’t reach the customer, why do I care? The only job that matters: finding the bottleneck and working on increasing the output through that area of the process.

I often worked with managers and clients who’d complain about a certain department or facet of their plan that wasn’t performing well or workers who didn’t seem to be working as hard as they could. When processes are measured, though, many times these weren’t the areas the manager should be worried about. A manager should worry first about the area which is the bottleneck decreasing throughput. It seems obvious and not really a big deal, doesn’t it? This is #2 on my list because once I read the book (and the follow up, “It’s Not Luck”) my business changed dramatically.

 

1)   The best battle is the one that’s never fought – Sun Tzu (The Art of War)

Sorry about two “war” books in the same piece, but this one was easily my favorite piece of advice. When I’m at odds with someone I’ve learned that instead of bringing on the fight, are there ways that I can still “win” without fighting at all.

With Sun Tzu’s help I became more proactive. If I could answer potential questions or concerns my clients had BEFORE they occurred, I’d avoid a problem later. I’d also think of any way that my competitors might try to steal my business and make sure that my clients were iron-clad mine. In setting up financial plans I’d imagine all the ways the plan would be tested and raise defenses against them.

Sun Tzu can be found all over my financial planning tips. It’s:

–       the reason I’m a stickler on the emergency fund, regardless of the interest rate.

–       the single biggest reason my budget for married people focuses on communication, not spreadsheets.

–       The reason I start with problems that might occur rather than insurance when dealing with “what if” scenarios.

There they are…my top 5. I’m excited to read your best career advice in the comments below. What should have made my list?

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101 Ways to Make Extra Money In Your Spare Time – A Review

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Wondering how to make a few extra dollars? We read Jackie Beck’s new book to dig for moolah.

Yesterday Jackie Beck appeared on our podcast to discuss some of the ideas from her book 101 Ways to Make Extra Money in Your Spare Time. For those of you that don’t listen to podcasts, I thought I’d review the book here. My overall feeling: this is well worth the investment in time and money if you’re in the book’s target group.

Let’s start out with what this book isn’t. If you’re a person who’s confident that you’re doing everything it takes to make money, this book isn’t for you. Of course, the title gives this away, right? It also isn’t an in depth look at any of the 101 ways to make money, although Jackie includes tons of links in the e-book to many, many outlets for readers to begin gathering more information.  As a sometimes-reader of magazines like Real Simple, I’m often disappointed when good tips seem to be skewed toward one gender or another (in the case  of Real Simple, it’s women….which is why I don’t read the magazine often). 101 Ways to Make Money includes ideas for men and women, and of varying skill level. Simply put, there’s a little something for everyone.

 

Who Should Read 101 Ways To Make Extra Money In Your Spare Time?

 

Jackie mentioned online that her early readers seem to be stay-at-home moms. While I stated that this book does a great job of remaining gender neutral, it’s ideal for a stay-at-home mom or anyone looking to earn a few extra dollars on the side. It’s also great for that person who works a 9-5 job and is hunting for something else to bring in a few (or many) extra dollars. From raking leaves (obvious and easy) to setting up an Etsy shop and selling crafts (more pointed and needing a little skill), there are lots of tasks that can easily fit into a weekend or after work schedule.

 

The Capital Problem

 

In many cases, it takes money to make money, and that’s the case with some of these suggestions. Don’t think that you’re going to get 101 pairs of ruby slippers you tap together three times to fill your greedy little paws with cash. There will be work, and in many cases, you might need a little moolah to fund your new business venture.

 

Readability

 

Jackie, who writes at the MoneyCrush blog, among other places, is a seasoned writer, and it shows. Her style is easy and straightforward. While I breezed through this book, it wasn’t because it was void of information. In fact, Jackie’s style makes it simple to grasp some fairly complicated ways to make money as if it were easy.

 

Why Pay For A Book of Ideas?

 

When I first heard about this book, I thought, “why the hell would I pay money for a book of ideas, when there are so many resources on the internet?” Here’s exactly why: for me, time is valuable and the cost of having a consolidated list that points you toward deeper text on any of the ideas presented is invaluable. Do you want to spend your time figuring out how to make money or do you want to find a way quickly and spend your time working the idea? If you’re like me, your time is valuable and you’re hoping to just get on with it. Jackie’s book, priced at $4.99, is an ultra-low cost way to cut to the chase scene in your money-making pursuit.

 

What Don’t I Like About the Book?

 

If I had to pick something that could have been improved, it is how little  these ideas are explored. There’s no discussion of the capital outlay it might take to be successful in each business or the amount of money each one could reasonably bring in. Of course, I understand that this isn’t the point of the book and I’m nit-picking. I could easily see Jackie digging into some of these ideas to help readers gain a leg up on marketing, competition and creative ways to stand out from the crowd of other people doing these same tasks, if she chose to expand the book in the future.

 

Final Analysis:

 

For people looking to make a few easy dollars or to dip their toe into entrepreneurship, 101 Ways to Make Extra Money In Your Spare Time has the ideas you need to help you create a spark. If you don’t ask it for details, you’re going to be a happy reader, and at less than $5, it’s easy to justify making this investment to more quickly focus on the right income earning path for you.

Interested in purchasing the book? We liked it enough that we joined Jackie Beck’s affiliate program. Click the link here or in the article to head to Jackie’s order page if you have questions, want more info, or would like to purchase a copy.

Want to Earn More? Trade Money For Time

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Would you pay a premium tax (toll) to get out of rush hour traffic?

The traffic is so bad in Austin, Texas that the town has finally decided to do something about it – they’re building a new lane in each direction.  Here’s the catch: It’s a toll lane.  But not just any toll lane, it’s a toll lane that changes its rates.  The rates, however, aren’t based on day of the week or time of the day, but rather on the average speed in the ‘express’ toll lane.

It took me a second to figure this one out, but the price goes up when the average speed drops below 50 mph.

Chew on that for a second.  The slower this new exclusive lane goes, the more it costs to get in it.  In economic terms it’s called peak-load pricing and it got me thinking – what other things are priced that way?  What other areas of our finances do we trade money for time so that others (those who don’t pay anything) get a better experience (in this case less traffic in the ‘free’ lanes)?

 

What this means is important: A tool more often used becomes more valuable.

 

I’m reading a book called Talent is Overrated. It describes a concept I’ve understood more and more as I’ve aged. The idea called “talent” means little when compared to another factor: time perfecting the job.

Notice I didn’t say “time on the job.” That’s seniority, which is irrelevant. You can sit and bullshit while being paid for thirty years and learn zippo at your chosen career. As you spend time actually honing your skills you improve. Talent is what brings you to the task….it’s more fittingly thought of as “aptitude.” Because you enjoy a particular activity, you’re more willing to spend the time it’ll take to practice. Want to be a better golfer? Practice golf perfectly for a few hours a day. Want to write better? Read and practice writing activities to create perfect sentences and paragraphs. Soon you’ll be among the best. That guy whacking a bucket of balls? He’s wasting his time. The woman churning out another crappy blog post on how to make your own computer from tractor parts? It’ll be as bad as the one on why you don’t need to hire an electrician.

When it comes to your main breadwinning activities, spend your time wisely honing your skills. When it comes to everything else, like riding down the highway, trade money for time, but only if this time will be used to practice more. The sooner you tackle your unique ability, the more your wallet is going to thank you. Soon you will find, that like Austin expressways, your fees are going up because your skills are being used more frequently.

What Do You Want To Be?

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Having a hard time sticking with your goals lately? How long has it been since you’ve re-evaluated your path?

There’s a place for money, but you might need to re-think your priorities.

Are you chasing the right goals?

 

 

What do you REALLY want to do?

How Do You Stay Inspired?

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It seems like it should be a simple thing, inspiration. Especially when it comes to money, you know what you want. You know why you want it. But sometimes there’s an invisible fence holding you back, like your neighbor’s dog.

Sound familiar?

Over my career, I’ve felt completely drained and uninspired countless times. I’ll be  sitting in front of a client’s financial paperwork and I just don’t want to look at it…or I’m sitting with an empty page in front of me and nothing comes to mind to write.

I used to worry about this. A piece of me thought of inspiration as a nectar and somehow I’d drained all that I’d been allotted. What I’ve learned is that it’s exactly the opposite:

As I go to the well more often, there’s another layer of good stuff.

How did I learn this? Partly from reading. David Allen (Getting Things Done) comes to mind, as someone who believes that as you clear away the small tasks you open your mind for much bigger concerns.

The rest I’ve learned from time in the trenches. I’ve always been a high achiever. When everyone else is stopping for the day, I’m going back for more. How?

Here are five things I think about to stay inspired:

1) I don’t have to finish the next task, I just have to start it. The act of starting is usually enough to get me rolling through to completion.

2) Just puke something out and clean it up later. Having SOMETHING to work with is better than the blank screen/no notes situation.

3) Make the phone call and it’ll come to you. I hate calling people and asking favors. But if the phone is ringing, my mood completely changes and I figure out a way to make it a successful call.

4) Think about Friday and work harder today so there’s less to do then. I hate working long hours on Friday. If I bust my butt now I can decide on Friday whether I play around or spend extra time.

5) Take a break with a timer. I’ll get burnt out from focusing too hard. If I don’t set a timer on work and spend some time at play, I find that every few weeks I need a complete mental break. I used to avoid breaks because I didn’t think I deserved them. Let’s be clear: I don’t deserve them. I NEED them to keep moving toward my objective. It’s a marathon. I also use the timer for breaks. Once I start playing I rarely want to get back to work. The timer works both ways.

Those are my five. I’m sure you have more. Let’s have some weekend fun: What do you use to stay motivated and inspired?

Photo credit: xJason.Rogersx