Bankrate wants to Know; HOW ARE YOU DOING IN A DOWN ECONOMY?

Read my entry into the KissMyAssets Contest!

Read my entry into the KissM

Here’s my advice for living large in a down economy. FORGET ABOUT THE ECONOMY; LIVE A ROCKIN’ LIFE.

My family and I are living an amazing life in this down economy, learn how you can too.

The News is for Entertainment and Sensationalism

Don’t even think about the news, or the dour talking heads on your TV. You are the master of your own destiny. Life and success transcend money. Whatever your current circumstances, you have ultimate control over your greatest resources, your time and your mind.

To get you started, here are a few ideas that I’ve employed to create an awesome life experience in spite of a down economy:

1. Spend a few minutes with that gratitude journal and write down the gifts you already have in your life. Don’t sigh, I know this is quite “Oprahish”. This strategy is a sure fire mood booster. You are already living better right now than royalty of the 1800′s. The luxuries of microwave ovens, computers, cell phones, indoor plumbing, electricity, video on demand, and more make our lives spectacular.

2. If you have friends, you are already wealthy. For wonderful fun in a down economy, gather a group together for a cheap and fun filled gathering. We love potlucks with games both indoors and on the field. Try some touch football, soccer, charades, Taboo, or Wii tournaments. Low cost, high energy fun. Plus, record the event and make a memory that will last.

3. When cash is low… travel. Take a bus or train to a neighboring town and visit the free parks and museums. Pack a picnic lunch and feel like you are a million miles away. Last week end we traveled to a nearby city and wandered through the streets and city parks. It felt like we were in another world and we came home refreshed and invigorated, all for the cost of a train ticket.

4. Finally, prepare yourself a gourmet cup of tea or coffee at home. Sit by the fire or the heater, curl up with a good book and indulge in a break. Allow yourself to recharge and reinvigorate yourself by carving out some personal time.

What Goes Around Comes Around

Economic conditions are cyclical. Great economies are followed by downtrends, and ultimately things get better. We’ve found it a challenge to enjoy ourselves during a down economy. And I am certain that things will turn around in the future. They always do.

Barb Across the Web

• Moolanomy highlighted three of my articles in his posts; How to Communicate with the IRS, Alternatives to Investing in Low Yield CDs,  and Haggling to Get a Better Price.

How are you coping in a down economy?

Random Musings about Happiness

When you’re done here, stop by  The Digerati Life and read my article, Buying Bonds? Effect of Interest Rates on Bond Value and Yield

I talk about money too much. First, I teach an Investments Class at a local university, main topic; investing to make more money. Next, I am a professional portfolio manager, main duties; managing investments to make more money. Finally, I’m a personal finance blogger, goal; to teach wealth building strategies.

When Money Talk isn’t Enough

I pepper my financial topics with values, life, and leisure and focus on “wealth in life“, which is not about money. Life is so much broader and richer than amassing dollars (euros, GB pounds etc.). So for today, I’m going to ramble about other things in that make life richer which have little to do with money. Included in this ramble is breaking research about how your emotions and feelings impact your life.

Work Less

My family has accused me of working too much, and they are right. The interesting dichotomy is that sometimes working less, yields greater productivity. Take a break, go for a walk, and come back totally inspired. Go to the mall, a park, or a coffee shop and free your mind. For me, the results are a certain calm and renewal. (Okay, the mall might be a bit of a stretch ).

Improve Your Emotional Well Being

A recent Newsweek article, The New Science of Feelings, explains “Research finds the neural basis of your responses to life-and how you can change them.”  

The takeaway from this article was that emotional style comes from certain regions of the brain. The elements of emotional style including resilience, outlook, self-awareness, social intuition, attention, and sensitivity to context can determine how quickly you bounce back from advertisity, your overall outlook on life, how successful you are and your overall level of happiness. And these emotional tendancies are not stable, but can be changed. That is the shocker. Apparently, mindfulness meditation can help improve your emotional style and even help one recover from depression.

Focus totally and completely on the task at hand, and your emotional state can improve. Is this the secret to happiness? Probably not, but it is a start. Consider the research on resilience stating that those who bounce back from setbacks are better equipped to deal with life than those who don’t. One of my personal strategies is to pull my waundering mind back to the task at hand! This helps control the worries and what ifs.

Prioritize Pleasurable Activities

Don’t be afraid to have some fun, devote yourself to a hobby or pleasure. I gain tremendous satisfaction from art and design. A years subscription to a design magazine weighs in at about twenty bucks, for literally hours of enjoyment. I am still reading 5 year old magazines and enjoying them as much as the first time I opened the cover.

Stop Thinking About Yourself and Do Something for Someone Else

Think about giving back. It is really true that service offers the giver as much or more than the receiver. Don’t think in grand gestures, the smallest act of generosity can make a difference in your life and others. I’m usually uncomfortable talking about my commitment to service (does it make me sound self richeous?). Yet, I look for opportunities to brighten others’ days. Even a smile, an offer to help a neighbor, a few hours volunteering, or even just opening up your wallet can make a big difference.

One day when I was feeling down, I was at a new employee work mixer. Instead of focusing on “poor me and my insignificant problems”, I decided to reach out to the new employees and make them feel welcome. I pushed myself to reach out and focus on others. My outward attention totally twarted the “poor me” feeling I came in with.

Barb Across the Blogosphere

• Meal Plan Rescue- Reads of the Week
• 101 Centavos- Chain Posts and Post Links

What makes your life fuller?

image credit; Ayham Al-Hawi

As I am updating our personal portfolio and working on the work portfolio I manage, I wondered, “Is Money the Only Measure of Success?” Look, I understand we all espouse a variety of success measures. These are a few success traits I value:

How to be a Success

• Contributing member of society
• Good parent, neighbor, and friend
• Philanthropist
• Community volunteer
• Faithful employee
• Accomplished athlete

Do you think those who earn more are more successful?

At Barbara Friedberg Personal Finance I promote self reflection and living in accord with one’s personal values. For example, which is more important; planning a fun day with your family at a local park or event or spending that day working to earn extra income? There’s no correct answer. This is a decision I struggle with all of the time.

I love to work and I value earning extra money. Yet, spending time with my family is the most important activity for me. But I must confess that sometimes my actions don’t exemplify my purported values.

Time is Finite

There is one certainty, time is finite. Once it’s gone, there is no more. Couple that with the fact that no one knows how long they will live, and these realities underscore the importance of spending one’s moments fruitfully.

I don’t have the answer to whether money is the only measure of success nor what is the best use of one’s time.

I resolve it by attempting to balance work, leisure, time with family, and time on hobbies.

I’m certain that this balancing act confronts most adults. In fact, just a few minutes ago I found an email in my inbox from Darren Rowse of Problogger fame offering a new book with the title Blog Wise: How to do More with Less. Although tempted to purchase, I realized there really is no secret message for productivity and success.

Yet, returning to the start of this post, while updating our portfolios I began to mentally project some of our annual income; I have a new teaching contract coming up at a local university, El Carino started his new job, and I expect to make some money blogging. How much is enough? Is the marginal time spent earning a buck more important than a precious afternoon with my family? Personally, after a certain level of income is reached, the answer is; the best use of my time is to spend the time with my family!

Multiple Measures of Success

Yet the pursuit of an answer to, “How do you measure success?” continues to interest me. The research intertwines the importance of finding one’s purpose in life, having control, and making a contribution with feelings of personal success. In reality, these fundamental human desires may or may not result in financial wealth. Think about the single mom social worker with a few kids. It’s unlikely she’s swimming in extra cash, but she is definitely making a contribution to the betterment of society.  If she helps place a child in a good home, she’s a true success. The community volunteer is working for the betterment of society, without remuneration. The mom who coaches the kids soccer team and the dad who helps with homework each night are successful within the family and helping the greater good as well.

In a broader sense, every job makes a contribution. And doing one’s job enthusiastically and competently can make you a success in any area. Society needs successful trash collectors, school teachers, accountants, and plumbers. When a pipe bursts, you value and appreciate a plumber more than a highly paid company president or wealthy movie actor.

More Readings on Success

• In Cooking to Financial Success, Andi of Modern Tightwad talks about success in her guest post at Prarie Eco Thrifter
• The Canadian Financial Blog reiterates that Financial Success Comes from Working Harder
• The Clutter that Kills Your Success in Business and in Life from The Smashing Entrepreneur
• Financial Success for Young Adults is all about helping the younger set prevail

Barb across the Blogosphere

Totally Money Carnival at Control Your Cash

Carnival of Financial Camaraderie at My University Money

 How do you measure success? Do you value money over other factors?

image credit; google images; luisgalarza.blogspot.com

& Personal Finance Links

“Do not expect work to fill a void that non-work relationships and activities should. Work is not all of life.  Your co-workers shouldn’t be your only friends.  Schedule life and defend it just as you would an important business meeting.  Never tell yourself “I’ll just get it done this weekend.”  Review Parkinson’s Law in 4HWWand force yourself to cram within tight hours so your per-hour productivity doesn’t fall through the floor. Focus, get the critical few done, and get out. E-mailing all weekend is no way to spend the little time you have on this planet. —

It’s hip to focus on getting things done, but it’s only possible once we remove the constant static and distraction.  If you have trouble deciding what to do, just focus on not doing.  Different means, same end.” From the Not To Do List at Tim Ferris; 9 Habits to Stop Now, by author of the 4 Hour Work Week

I read the book The 4 Hour Work Weekseveral years ago, and have been thinking about it ever since; not because I think it’s a great book, but because I think the title is hyperbolic and the premise is impossible. That said, I enjoyed reading the book as well as checking out Ferris’ website. In the highlighted quote, it’s a no brainer to focus on the tasks that bring the most benefit in your life. And why not enjoy life in your leisure time? But can’t work be fun too?

WORK LESS

Who is Doing the Housekeeping?

Ferris’ ideas leave out some important realities. Who is going to do the dishes and the laundry? Who is going to pay the bills, tidy up the mess, and scoop the cat litter?

Life is consumed with housekeeping chores. These small chores, whether at work or at home are unavoidable. Many cannot be outsourced. I’d love someone to brush my teeth and wash my face every night. I wouldn’t mind someone washing my hair and styling it every few days. Is there someone out there who will run to the store for a few apples and a container of milk? Well, yes there is, but it will take almost as much time to line up the help as it will to run in and make the purchase.

At work, I need to organize my files. As a portfolio manager, I must update the investments in my portfolio. As a finance professor, no one is going to prepare the PowerPoint slides for me or grade the assignments. Those duties must be performed so I am ready to teach the class.

Not only do I think the 4 hour work week is absolutely impossible, I’d be hard pressed to get all my work done in a 4 hour work day. What about you?

How about kicking back and reading some great articles from across the web?

Barb Recommends Personal Finance Reading

Payment plans can increase the cost of your auto insurance. Check your math and see if you’re paying more over the year for convenience of monthly installments at Insure.com.

Should I use my savings to pay down my mortgage?
If you’re earning little interest on your savings, you may be better
off paying down a higher interest mortgage.

The Money Fix winner: How I bought my first house
J.D. Roth coached the winner of Daily Worth’s “The Money Fix” so she
could buy her first house. See what steps she took.

10 things I learned from my evacuation
HSH contributor Gina Pogol was forced from her home during a wildfire.
Here’s what she learned.

How long should you keep your tax records if you…?
“Forgot” to report all of your income? Filed a claim for a bad debt
deduction? Hang on to that pile.

Best cash-back credit cards for February 2012
Cash-back cards are the most popular type, but are they all equal?

How risky would the end of the euro be?
Richard Barrington, CFA, explains what might happen if the euro is abandoned.

Barb Friedberg Across the Blogosphere

• Cavalcade of Risk Carnival at Wealth Builder
• Totally Money Blog Carnival, Editor’s Pick at Family Money Values
• Carnival of Personal Finance at Money Q & A
• Rambling Fever linked to my Pareto Principle article
• Self Directed Investing for Retirement Carnival at Arbor Financial
• Wise Bread linked to my Collaborative Consumption article

IS THE 4 HOUR WORK WEEK POSSIBLE?

image credit; graffink

CHEAP VALENTINES DAY TREAT

My daughter asked me how El Carino and I typically spend Valentine’s Day. As one who is not particularly romantic, it’s somewhat ironic that I’m writing about this topic. Yet, in spite of my underdeveloped sense of romanticism, we usually celebrate by going out to dinner and exchanging gifts, such as candy or a small memento; earrings or costume jewelry for me and sports memorabilia for El Carino.

As an expert on the cheap way to do just about everything, I do have some wonderful ideas for making this holiday really special while not catering to the pressure of excessive consumerism. After all, do you want Hallmark to tell you how to spend your money?

Know Your Partner

Think long and hard about what makes your honey happy? Create a celebration tailored just for them.

Is she/he the type who loves to stay in and cuddle? Order a gourmet meal in, rent a favorite movie, buy them their favorite indulgence, and trade massages. Tie in a traditional gift. They are popular for a reason; perfume, candy, flowers, jewelry, additions to a collection or hobby. Put in the time and thought and create a special memory.

Are you an adventurous couple? Plan an evening excursion. If you live in a cold climate, bundle up and go for a special walk. Live in the south or west? Visit a nature area for a romantic walk in a local park. Bring a picnic dinner and a bottle of wine.

Laser tag or video games your guilty pleasure? How about a valentine’s day session?

If your partner swoons for jewelry, flowers, and candy; get the best for less. Take a beautiful glass dish from the dollar store and fill it with an assortment of bagged candy from the supermarket; elegant and cheap. You don’t have to spring for roses, buy a more affordable variety of flower and put in a vase you already own. Personally, I love costume jewelry. Shower your honey with a new watch, necklace, or bracelet. Check out Kohl’s, Target, Macy’s, and JC Penney’s, you’re certain to snare a bargain.

Get Creative

Smart Marriages lists 50 Valentine’s Day Ideas for Less. Some of these clever ideas are adapted from the PDF.

Burn a CD with romantic love songs.

Make a quick movie “card” espousing your love. I think I’ll try this one and email it to El Carino at work! Update; just made one with “10 Ten Things I Love About You”.  Don’t worry about making it perfect, the more personal, the better.

Have kids? Bake valentines cookies together then send the kids to watch a movie while mom and dad have some couples’ time.

Don’t want to spring for an expensive restaurant meal? Go to a cozy spot after dinner for a special valentines day dessert.

If one spouse normally cooks, let the non-chef surprise their partner with a special meal.

Mighty Bargain Hunter eschews the traditional Valentine’s Day gifts with surprise gifts throughout the year. Why not celebrate Valentines Day this year on Saturday, February 18, when related gifts are 50% off or more?

For more ideas, stop by Invest it Wisely and read this super romantic article about 3 Frugal Ways to Celebrate Valentine’s Day.

What are your cheap valentine’s day ideas?

Superbowl Party Tips & Links

El Carino and I were visiting San Francisco the day of the division playoffs between the New York Giants and the San Francisco 49ers. We ventured into a Marriott and were caught off guard by the abundance of NY Giants fans. This gaggle of folks spawned an interesting conversation about the finances of football fans. First, a little background, we are die hard football fans and have watched every single NY Giants game for years, on

SUPERBOWL PARTY - GO GIANTS

television. We have never been to a live game, although we did venture up to Albany, New York one summer to check out Giants training camp.

In the hotel lobby, we struck up a conversation with a girl dressed head to toe in Giants attire in town to see the game with her dad. They have season tickets and planned to go to the super bowl as well. El Carino and I decided to figure out how middle income folks can afford to attend live football games. We understand how the wealthy and corporations can afford the tickets, but what about those fans who are middle class. How do they do it?

How to Afford Live Football on a Middle Class Income

This is all conjecture, as we don’t know anyone personally who has season tickets to the NY Giants. Although my uncle did have tickets to the Bengals, but he was wealthy, so that doesn’t count. But for arguments sake, I have to believe the middle class can afford to attend live football.

Season Football Tickets (estimated)

NY Giants Season Tickets: $850.00 to $7,000.00

Parking: $200.00

Food: $300.00

Playoff game (including travel, hotel, tickets): $1,500.00

Total: $2,850.00 on Up

I am pleasantly surprised at the results of this calculation. For a single guy, making $55,000.00 per year, it is certainly possible to afford $2,850.00 for a season of football fun. (I’m not counting a superbowl visit) Granted, it’s 5%  of your gross pay. But if football is really important to you and you prioritize going to live games, it’s doable.

I’ve talked a lot about spending on what matters. In short, living in accord with your personal values. For a die hard fan, the majority of your entertainment spending can go towards football.  Skimp on other expenses, and it can work! Forgo an annual vacation and eating at expensive restaurants and a football fan could afford season tickets.

For the rest of us, here are some tips and thoughts for celebrating the Superbowl on the cheap.

Barb Recommends

Gambling, Taxes, and the Superbowl at Bargaineering

How to Host a Superbowl Party on the Cheap at Personal Finance Journey

Superbowl Party Trays; Can You Save Money by Making Your Own? at Frugal Confessions

5 Ideas to Save on Superbowl Party Food, Recipes, and Supplies at Money Crashers

50 Party Recipes for the Big Game at iVillage

Superbowl and the Stock Market at Squirrelers

Score Big with a Superbowl Party at Blogging for Change

 Barbara Friedberg Personal Finance Across the Blogosphere

Be sure to visit these sites who published and promoted my work.

• Free Money Finance-Star Money Articles
• Young Adult Finance-What are Your Goals for 2012?
• My University Money-Carnival of Financial Camraderie
• Control Your Cash-Carnival of Wealth
• Carnival of Passive Investing-Afford Anything
• Totally Money Blog Carnival-Canadian Personal Finance
• Yakezie Carnival-Amateur Financier

image credit; xboxaddict80

 & LINKS

“As a break,” I head over to twitter to see what’s going on. I retweet a few tweets and click through on a few more. Before I know it, 20 minutes has elapsed. What I hoped to accomplish was 3 fold:

Is social media worth it?

1. Take a break from what I was doing.

2. Work on building my online presence.

3. Drive more folks to my blog.

Did I accomplish any of those goals? Well, I took a break; check. Did I improve my online presence or drive more people to visit my blog? I’m not sure. Although I get a fair amount of traffic referrals from twitter and retweets from fellow bloggers, “Is it worth the amount of time spent on the twitter site?” Although I measure twitter referrals to my site, I don’t keep track of the amount of time I spend on twitter. So it’s difficult to determine whether the amount of time spent on twitter improves my blog in a substantial way or not.

The question, “Is it worth the time spent?” could be elaborated to include almost anything we do. Is the time spent on any activity worth the reward. Now, with your paid employment, the answer is quite clear. You do your job in exchange for a paycheck. Hobbies and part time activities raise different questions. Did I have enough fun at the movies to justify the $14.00 ticket, or was the movie and money spent a waste?

While watching the Giants-49ers playoff game, I decided to check the #Giants twitter feed. My family asked why I was going online when we were all watching the game and cheering together. Actually, I don’t have an answer to that question. What is the sociological explanation for tweeting during a football game?

Back to the initial question, “Is Twitter a Time Waster?”  I learned from Optify that you can actually build a Twitter Strategy. Does this stuff really work? I copied this tweet from my twitter feed;

Wondering how to build a #Twitter strategy for your business? Download The Ultimate Twitter for Business Guide. http:// blah blah blah / #b2b

Barb Recommends

 7 Financial Lies People Tell Their Spouses at Moneyrates.com. I just might have committed one of these, but I’m not telling.

FREE eBook, 6 Ways to Improve Your Wealth Right Now at Money Cactus. Who doesn’t like wealth and free?

What Buddhism Teaches us about Personal Finance at Prairie Eco Thrifter appeals to the Zen in me. I’m always trying to find that balance. What about you?

The Teacher Man wrote at Young and Thrifty, Germany and It’s European Family. It is an informative read about the ongoing economic trials and tribulations in Europe. I’m following the events with great interest. After all, we live in a globally interdependent world.

Krantcents gives you the Three Bs of Success. You can always count on great wisdom from Krantcents.

Real Estate Investing Resources from Family Money Values. Thinking about investing in real estate? Don’t miss this excellent read.

Get your free eBook, Student Loan Debt-Getting in Smart, Getting Out Painlessly from The College Investor. Read it or pass it along to someone who can use it!

Narrow Bridge disclosed some dirty secrets in How I Ripped People off With Store Credit Cards.

Everything Finance published a guest post by Newlyweds on a Budget entitled, How to Manage Money in a Marriage. Personally, I believe you and your partner have to decide what approach works for you. There’s no one size fits all!

Financial Highway hits on Extreme Penny Pinching. Personally, I consider these tips more practical than extreme. What do you think?

Are you nosey? Interested in how others spend? I certainly am. Check out Financial Samurai‘s latest credit card bill.

Young Adult Finances blogged about How to Write a Job Getting Resume. Excellent tips, if you are looking to update your resume, check out this article.

April Dykman wrote How to Negotiate your Salary at Get Rich Slowly. After you write an awesome resume, get a great job, read this one to up your pay! Lot’s of actionable tips.

 eMoneymakingonline offers some excellent blogging resources in 8 Plugins to Monetize Your Blog

Beating Broke writes how Frugality Will Change You. This article reminds you how practice makes permanent.

Canadian Finance Blog reminds readers to Upgrade Instead of Replace

Money Leaks Update talks about plugging those spending leaks at Step Away From the Mall. He’s doing quite well, what about you?

Barb Across the Blogosphere

Be sure to visit these sites who published and promoted my work.

• Yakezie.com-Featured article, Patience and Persistence; The Path to Unlimited Success
• FindtheBest-PNC Cash Builder Visa, Is it For You?
• Are Facebook Ads a Fad or a Trend at Benzinga
• Family Money Values-Real estate investing resources
• Totally Money Blog Carnival at Family Money Values
• Self-directed Investing for Retirement Carnival; Ratings Downgrade Edition at Arbor Investment Planner
• Len Penzo.com Black Coffee; Why I Don’t Tweet Suze Orman or Have too Many Facebook Friends
• Yakezie Carnival-Credit Card Edition at Prairie eco Thrifter
• Carnival of Financial Camaraderie at My University Money
• Dividend Ninja-the Yakezie Challenge

What do you think, is twitter a time waster?

image credit; linkedmedia grp

a version of this article was published in March, 2010

Enjoy Life First

“Buy what thou hast no need of and ‘ere long thou shalt sell thy necessities.” Benjamin Franklin

There is a ton of junk online and in print. I spent a good part of this morning reading a book called Millionaire Fastlane which proclaimed that the traditional “get rich slowly advice” is false and that anyone can get rich fast.

Get Rich Quick is a Fallacy

I’ve had the good fortune to know many very wealthy individuals. They include large real estate developers, business owners, even the CEO of a fortune 500 company. I’ve also read extensively of others experiences and it is the rare individual that gets rich fast. Sure, it can happen, you make a groundbreaking invention, you sell your company to google, you hit the lottery, you become a professional athelete; it is possible to get rich fast. But it is rare.

If you are interested in developing financial wealth, it will take some time. If you want to get rich overnight, you can stop reading right now, because I don’t have a clue about getting rich fast!

Pure Fun

That said, I have some ideas about how to get wealthy over time, and how to enjoy the journey. My personal experience is that the process is more fun than the outcome!

A Dilemma and A Solution

One of the great challenges today is balancing your present needs and wants with those of the future. It requires quite a bit of introspection.  While almost every Ben Franklin quote oozes wisdom, this one in particular, speaks to the reality that if you go overboard consuming recklessly, you will run out of money, fall into debt, and end up in a bad way!

There is much said about saving for this and saving for that and a lot about sacrificing and giving up something today so you have money for tomorrow. And of course, you all know that in order to have money to buy stuff later, a car, a home, a vacation, etc.; you have to save. But, who has actually sat down and figured out; EXACTLY what you will want in the future and just how much IT WILL COST?

Before you even think about how much money you need later, there is an important step to take first.

Life is Uncertain; What to do?

Figure out what makes you happy.

Simply put, spending time and money on things that improve your life is the way to have a better life!

Trent, from The Simple Dollar site wrote a fascinating post on February 5, 2010 about change called, “What’s Coming Next?” He surveyed his life over the past several years and compared his LIFE EXPECTATIONS (take some college classes and work in a factory; work at Microsoft; remain in debt, unmarried, and childless) with his REALITY (work in a genetics lab, a non-profit, become a full time writer, get some books published, get married, get out of debt, and have 3 kids). His post reminded me that life is uncertain. And this two year old article still holds important wisdom. Trent has gone on to grow his website and work on writing fiction as well. He certainly was not an overnight success yet he is an inspiration to those who want to follow their dreams.

Plan for the Unexpected

Yet, in spite of this uncertainty, it is important to plan and set some goals.

Because, if you don’t figure out what you enjoy, and make some effort to get more of those pleasurable activities in your life, it just won’t happen.

Realize that stuff happens. Keep your personal information protected and check out the ID theft blog for safety tips to combat the “what ifs.”

Life is best led striving to do what you love.

By becoming a full time writer and published author, Trent turned his passion into cash. And that is a life lesson for all!

Figure Out What Fulfills You        

If you don’t already know what you are passionate about, take some action to figure it out! Life is much better when you spend time on activities which are important to you. Having a job you like is fabulous, because it doesn’t feel so much like work! So if you aren’t sure what you are passionate about, check out What Color is Your Parachute by Richard Bolles. Also, think about the times in life when you lost yourself in what you were doing? Ask yourself, “Can I do more of those types of activities?”

Spending more time on satisfying activities equals more pleasure!

You may discover that some of your passions cost money or even more schooling or training. Maybe you want to transition into another career, learn to sky dive, take an art class, or explore Asia. And of course, most of us realize that we want the option to have some cash when we retire to enjoy our potential longevity. But if you don’t consciously explore your passions and set some goals, you are left with little possibility of achieving them.

I went back to graduate school in my 40′s and it was one of the best decisions I’ve ever made. It set the stage for my life today.

Wealth is an Attitude

There are those with millions, unsatisfied with their lot and looking at those who have more. Turn your glance inside for a minute or two. Take some time to determine what you value, and then set on a course to get what you want. After you know what direction to head, figure out the dollars and cents of your aspirations.

In part 2 of Enjoy Life and Make Money, learn about the abundant ways to increase your income and net worth. But, while you are pursuing your financial  goals, remember to drink in the enjoyment of the wealth and good fortune you already have.

Action Steps:

Get a notebook label it: “(your name) Personal Finance” and keep it by the computer. Use it for all of your personal finance goals, thoughts, activities, and plans.

1. List 25 activities you enjoy.

2. Practice one from the list daily.

 Which activities give you the most wealth in your life?

]]> http://barbarafriedbergpersonalfinance.com/enjoy-life-make-money-pt/feed/ 0 http://barbarafriedbergpersonalfinance.com/cheap-new-years-eve-ideas/ http://barbarafriedbergpersonalfinance.com/cheap-new-years-eve-ideas/#comments Fri, 30 Dec 2011 11:56:51 +0000 Barb http://barbarafriedbergpersonalfinance.com/?p=2653

& Holiday Links

You must subscribe to my WEALTH TIPS newsletter on the right. You get invaluable wealth building information and a FREE e-copy of my award winning 20 Minute Guide to Investing. Do not hesitate!

With drunk drivers on the loose, and the crazies out and about, here are some ideas for a really fun New Years Eve at home. Try these out with the family, a few friends, or a big group.

FOOD

Pot luck is the way to go. If your guests bring some grub, they are automatically invested in the event! Set a theme for even more fun. Try hors’doerves, sandwiches, dips, international, or any theme you can come up with. Finger foods are recommended. Also, pot luck cuts down on costs!

New Years Eve Times Square NYC

DRINKS

Create some fun drinks; it’s New Years after all! You can make alcohol punch, Sangria, mixed drinks, beer, wine, or whatever combination you prefer. To keep the costs in check, keep it to a few choices! For those teetotalers, soda, mock-tails, or punch keep the fun rolling.

ACTIVITIES

The older El Carino and I get, the less we like (most) parties. Unfortunately, many of our contemporaries aren’t as much fun as when we were younger. When you come to our house, you are not going to be relegated to sitting around and talking – boring. We have had every type of ”activity” party. Get active, plan some events and invite the crowd. Pick and choose what seems fun for you.

• Charades
• Taboo
• Pictionary
• Balderdash
• Wii games- Tennis, bowling, and boxing tournaments
• Newlywed game with any sorts of couples (don’t have to be married or opposite gender!)
• Dance parties
• Improv games
• Trivial Pursuit
• Musical Chairs (too much fun with adults )
• Cookie decorating

MUSIC

The music sets the mood. Make it eclectic, lively and fun.

BARB RECOMMENDS

This ones for you bloggers out there. eMoneyMakingOnline published a superb explanation of Google’s latest update in Writing for web-What has changed with the Panda Update? I don’t usually worry too much about trying to write for anyone other than the personal finance readers, yet I know lots of my readers are also bloggers and this one will keep your site going in the right direction.

Blog Tyrant gives 13 excellent tasks For When You Can’t be Bothered Writing. Ever heard the term “epic article”. I’m not completely sure what qualifies, but the information covered in this post promises to move your blog on to bigger and better opportunities.

Budgets are Sexy reminds readers that It’s My Birthday and I Can Shop if I Want to! I sometimes imply that spending money is bad. J. Money reminded me that money is a tool, and not an end in and of itself. If you don’t enjoy the fruits of your efforts and over focus on the future, you are missing out.

Rich Beautiful and Single and I Wonder Why was a guilty pleasure read over at Financial Samuai. Sam shared an encounter with a beautiful (on the outside) woman; not so much on the inside. And she wondered why no suitors were beating her door down. I don’t get these type of women.

Ask Liz Weston responded to a reader who asked, Will Stocks Ever Return 8% Again? Although neither Liz Weston nor I are fortune tellers, and history does not predict the future, take a glance at a long term chart of the US stock market. The long term trend has been upward ever since the birth of the US stock exchange. If you think American companies and International Companies as well will continue to grow and prosper, then stock market returns will rise.

Miranda Marquit, writing for Bargaineering writes about an important investing activity, portfolio rebalancing, in End of Year; Time to Rethink Your Investment Strategy. She offers up some excellent questions to ponder while you prepare your investments for the coming year.

Mike piper at Oblivious Investor writes an  article explaining muni bonds. If you’re in a high tax bracket, you do not want to miss this one.

Don’t be Perfect is awesome advice from Canadian Personal Finance. Although Alan was referring to investing, the applications are much broader. Perfectionism is a success killer. Focus on the important, don’t be afraid to make mistakes, take some calculated risks and success will follow.

Follow up from Bloggers Making $1000.00 per Month at Cash Flow Mantra will keep you motivated. My readers and myself are always interested in inspiring money making articles! I’m going to be watching closely as Cash Flow Mantra ramps up his money making plans!

Square Pennies offers up more tips for Entertaining for Less & Keeping the Fun.

BARB ACROSS THE BLOGOSPHERE

Please support these fine sites who published my work.

Charles Schwab Investment Research Tools at Findthebest.

What’s up with Europe? Should I Avoid Investing There? at Benzinga.com

Carnival of Personal Finance at Money Cactus

Carnival of Financial Camraderie at My University Money

 What are your best New Years Eve ideas?

image credit LeSimonPix

Just out, you must read my latest Benzinga Brain Trust column, Advice for Investors, Informed by Ben Bernanke

LIVE PERSONAL FINANCE LESSONS FROM  FINCON

These past 3 days I learned scores of tips from the top personal finance bloggers in the world and I want to must pass them on to you. I want you to live a wealthy life, personally and financially and I can help you do that. For the next week I am going to divulge a tip a day that, if taken, can lead you closer to your dream life.

Personally, I’m at a crossroads in my own life. I have more to do in my life than I can accomplish in the amount of time available. So, I’ll let you in on a secret, these tips are for me too, to help me organize my expanse of personal and financial aspirations.

Step back this week, and let’s work on our personal dreams and see if we can take a step closer to wealth in money and life.

TIP 1; You Can’t Do Everything, But You Must Do Something

“If you say yes to one thing, you automatically say no to another. And, conversely, if you say no to something, you free up time to say yes to something else.” Suze Orman

One of my favorite presentations was a top notch tutorial about “How to Create and Sell a Product” by Adam Baker of Man vs. Debt. Adam is a credible spokesperson as he completely transformed his life going from deep debt, selling everything, to a six figure income earned from his products.

Among his inventory of products is a multipart video series detailing how to get out of debt. His comprehensive advice included recommendations to poll your audience and test your ideas, basic market research so you are giving your audience what they want. He also talked about the psychology of pricing and how $99.00 is better than $100.00 and if you are going to charge $22.00, you can probably get the same amount of sales for a price of $29.00. The abundance of information went on and on. He is an awesome resource for Selling Your Crap and getting out of debt.

The presentation was awesome, products professional and high quality. And this system is a great money making opportunity for him. And, it reminded me that everyone has a niche. A niche is something you are great at for which people will pay! Although this was Adam’s niche and he was quite successful, and there were some excellent takeaways, the key message is this; INVENTORY YOURSELF and find your niche.

Carve out a few minutes, maybe during a break at work, or when the kids are napping, and think about your own situation.

• Do you have enough money?
• Do you have enough leisure time in your life to really enjoy yourself every day?

If not, realize that something has to change.

Here’s how to get started today.

ACTION STEPS:

Get a notebook and label it: “(your name) Personal Finance” and keep it by the computer. Use it to keep all of your personal finance goals, thoughts, activities, and plans.

Write out the answers to these questions:

1. What do you like about your money and lifestyle?
2. What do you want more of?
3. What do you want less of?
4. Write down 3 actions you need to take to better your situation.
5. Put in your planner how and when you are going to get started. (For example, if you’re in debt, visit Man vs. Debt; if you need to learn about investing visit Oblivious Investor and check out his blog and books.)
6. Get rid of the activities that won’t get you where you want to go.

Decide how you want to focus your own time and energy. Use what you read to inspire and motivate you to action on your own goals.
No one is excellent at everything, but everyone has a talent and a dream.

Stop by next time for Part 2, The Power of Networking.

And don’t miss Part 3, Learning from Others

For a quick overview of Investing Strategies, pick up my FREE eBook; 20 Minute Guide to Investing (top right of the page). If you like what you’re reading, sign up for my RSS feed or email subscription and follow me on twitter so you get the word immediately.

What is your success dream?

image credit; anshumm.com