Sign up on right to get free WEALTH TIP’s Newsletter, and FREE bonus eBook; 20 Minute Guide to Investing!

This article is a revision of a guest article I wrote last April at Everyday Tips and Thoughts

There’s a plethora of writing about how more stuff leads to more work. Get something new, first figure out how it works, then maintain it, and finally, fix it when it breaks.

Who wants more work?

In a previous article I wrote a controversial piece about Why I Don’t Want an IPad. In that article, I compared the

MORE TECHNOLOGY PLEASE?

functionality of my laptop with an IPad and proved how superior the laptop is for my purposes.

MY CONFESSION:

My phone is a cheap old LG model. My plan, a $20.00 per month, no annual contract, Virgin bare bones with 400 minutes per month. And guess what, I use my phone to make and receive calls and an occasional text. That’s it. No internet surfing, game playing, movie watching etc. In fact, my work and blogging requires an inordinate amount of time on-line. For blogging, portfolio management, and everything else, I have a laptop and a desktop. Additionally, I’ve got video and digital cameras. And that’s enough for me.

RECENT VISIT TO BIG BOX ELECTRONICS RETAILER

In preparation for a conference call with Jason, of LiveRealNow, I purchased a webcam and speakers for my “bottom of the line” desktop computer. While in the store, I decided to get behind the buzz on the Amazon Fire eReader and the tablet computers. I was toying with the idea of putting one on my holiday gift list.

Here’s my Synopsis

The Amazon Fire is reasonably priced and good if you want an eReader that can also surf the net. With no USB port or word processing software, it’s of no use to me as I wanted a tool to do a bit of online writing and editing. Additionally, I’m so old shool, I read actual magazines and books!

On to the tablet computers. I checked out an Acer, due to the low price and recommendation of the sales person. What do you expect from a personal finance geek? It had a USB port and the availability to do some word processing along with all the other content viewing, game playing, and internet surfing options. But when I went to type on the keyboard, the sales person said you really need to type with only one or two fingers. Now that’s some slow typing.

The games I play are usually actual games like scrabble, rummykub, and trivial pursuit! I watch a real television. My computer work is done on computers. And, I don’t need access to any more technology when I’m out and about.

I actually try to experience life through real not virtual experiences!

I don’t need to be on-line with my phone either. I don’t need to check my email when I’m away from the computer. NOTHING IS THAT IMPORTANT!

This is one area where I’m going to be behind the curve.

TIME VERSUS MONEY

Look, I like technology as much as the next; can you say 2 Facebook pages (please LIKE me), twitter, LinkedIn, Quora, and all the other social media accounts. But when it comes down to my time and money, I weigh my options.

TIME-As I said before, I’m online too much as it is. Don’t need a phone, eReader, or tablet for that!

MONEY-Why should I pay upwards of $75.00 a month or more for a phone service that isn’t ultimately of value to me? I don’t need to shell out several hundred bucks for one more electronic gadget, that won’t improve my life and may up my stress level.

What do you think? Am I just a dinosaur or am I missing something really valuable from the new technology offerings?

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

Financially Consumed-10 Takeaways from the Financial Blogger Convention

Barb Across the Blogosphere

ACTION STEPS:

• Learn something new today.
• Practice what you learned to make it permanent.

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.

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

Should I buy an investment property now?

I’m wrestling with a decision about whether to take on another potential money making endeavor. With interest rates at all time lows and lots of inventory at exceptional prices (in some parts of the country), I am wracked with indecision. I have been turning these decisions over in my mind ever since we drove across the country and saw beautiful brand new condos for sale in the low $100Ks in the well maintained college town of Provo, Utah. Add to that the weekly emails from a real estate contact filled with screaming bargains in Arizona. And I am rattled with the “should I or shouldn’t I” pursue this possibility?

Background; My Current Obligations

My job/family responsibilities are:

• Portfolio management job managing all the financial responsibilities and investments of my company. We are in the process of divesting many of our assets and responsibilities are diminishing.
• College adjunct professor; teach one Investment class two times per week in a local university.
• Blogger; Work way too many hours for minimal compensation writing and managing Barbara Friedberg Personal Finance.
• Columnist for Benzinga.com, occasional writer for American Media Marketplace, and other sites.
• Writer; Writing a book on personal finance which hopefully will be a raging success and bring me boatloads of cash .
• Spouse and mom; El Carino just took a new job which is quite demanding and I do a lot of stuff around the house. Jr. Carino is home and in transition as she plans out her next step.
• Volunteer; Expect to give some community time in our new area.
• Home; Still putting together and unpacking our new home from our epic cross country move. Need to cook, tidy, and exercise most days.
• Family financial management; Responsible for all family finances, investments, and decision-making.

Some of these responsibilities yield immediate compensation, some offer delayed compensation, others offer ways to increase monetary net worth, and others offer intrinsic rewards.

How do you measure their individual value?

Google Results

A quick google search, “time v money” turned up 6.3 BILLION results. Obviously, I’m  not the only one thinking about this topic. In fact, it looks like billions of individuals are dealing with these same quandries. Think Simple Now talks about “The Greatest Tragedy Ever; Time versus Money”. In this article I am reminded about the finiteness of time as well as a unique view of indentured/working time versus free time. Although for some of us, the distinction is not as clear. Shatter the Untemplate Lifestyle by Untemplater at Yakezie.com speaks about her decisions to live life on her own terms. Wisebread‘s Sarah Winfrey had another article on the Time versus Money issue with some thought provoking questions at the end. Finally, Miss T from Prairie Eco Thrifter wrote about “How to Choose a Life That Benefits the Greater Good” at Yakezie.com. As one who wants to give back more to society, this one struck a chord with me.

What Should I do?

While writing this article, I thought to myself, “I must be absolutely crazy to want to put something else on my plate!”

Something I forgot to mention, I watch television for an hour or two every night with my family and I go to bed relatively early. Realistically, if I take on  something else, I’m going to have to give something up! There are not enough hours in the day to do a decent job with all of my current obligations. And, I don’t want to give anything up. But, it’s not that simple, as I hate to pass up a potential opportunity to grow our family’s wealth.

I’m going back to the old “PROs versus CONS” worksheet to make my decision.

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.

Faced with a big decision?

1. Get feedback from your family.
2. Pull out the old paper and pencil and make a Pros vs. Cons chart to help with the decision making process.

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 would you do in my situation? How have you handled these types of time versus money decisions in your own life?

image credit; Marzky

VIDEO SERIES; Part 2

News Flash; I’m nominated for a Plutus Award in the Best New Ebook Category for my ebook 20 Minute Guide to Personal Finance (download for free on the right)!! Please vote for me here!

Welcome to Part 2 of my video series. In Part 1, I talked about how I went from a scared girl to a confident and successful adult. The video I showcased was a first attempt project with hints for Holiday shopping. The tips work well for any season. And the article championed getting started now!

Todays video, dedicated to those just starting out, lays out money ideas for the 20-somethings and smart money reminders for the more established.

“Never spend your money before you have earned it.” Thomas Jefferson

Follow Jefferson’s advice, add in a bit of saving, and you are on the right path. Watch the video, consider the tips, pass them along to your friends, and help them become money smart!

Money doesn’t have to be complicated. Develop consistent habits, don’t spend what you don’t have, be patient, and your money will grow. And don’t forget to create additional income streams to grow your wealth.

• This is part 2 of a series showcasing my YouTube Videos. Learn personal finance and life skills from these instructional videos. Make sure to check out Part 1; Achieve Your Perfect Life With Goal Setting.

Check out these websites dedicated to those just starting out:

• The College Investor
• Financial Success for Young Adults
• Young and Thrifty
• Thousandaire

What money advice do you wish you knew when you were starting out?

News Flash; I’m nominated for a Plutus Award in the Best New Ebook Category for my ebook 20 Minute Guide to Personal Finance (download for free on the right)!! Please vote for me here!

Yesterday I had an amazing day and spent nothing!!

MY CONFESSION

I’ve played tennis forever, on a variety of courts from public to private, in metro city areas to elite private clubs. I confess, I hate the atmosphere at most of the courts; snooty, exclusive, might I even say a bit racist, classist, and sexist. (There I said it!)

Yesterday was different!

El Carino and I picked up our rackets and drove  3/4 of a mile to our neighborhood recreation center. The courts were populated with good solid players of multiethnic backgrounds. In fact, I think we may have been the only Caucasians on the court (although El Carino is usually mistaken for an Hispanic ). The other players greeted us warmly as we walked on to the one remaining open court. After hitting for about 45 minutes, 4 guys came by and were waiting for an available court. One of the players was covered in tattoos and all were from Asian, Hispanic, or other multicultural backgrounds. They waited patiently on the side of the courts.

In my experience; in the more “Caucasian” areas, the players rarely said hello, gave a smile, or welcomed you on to the court. More times than not, if you weren’t a top notch player, or dressed “appropriately” you were given a disparaging stare.

After a few minutes, the two teens on the next court asked if El Carino and I would like to play doubles, so that the 4 new guys had an open court on which to play! Of course, we said “Sure” and had an amazing amount of fun competing with these two teenage boys. It didn’t hurt that we won!

El Carino and I have never seen anything like the warmth and inclusiveness of this community recreation center. The consideration of these young boys in asking us to play in order to give the other guys a court was unprecedented in my experience. Upon leaving, the 4 guys for whom we had given up our court asked us “Who won?” After we told them we did, they joked and said that it was clearly due to my playing!!!

John Kenneth Galbraith’s Take on Gross National Product

“The Gross National product does not measure the quality of life. But it tells us about the trend of the production of goods and services. We should use it for what it tells us so long as we know what it doesn’t tell us,” Almost Everyone’s Guide to Economics by Galbraith and Salinger.

Although the worth and importance of an economy is measured by its growth in the GNP, the measure of the wealth of a society goes far beyond that of the GNP. Furthermore, the GNP is a poor measure of a society’s productivity.

What the GNP does not measure?
• Unpaid work of household CEO’s
• Quality of life items such as the arts and park
• Good public transportation
• Intangible, immeasurable quality of life

A great and growing GNP does not ensure a sanguine society. Many attributes of a successful society go way beyond this economic calculation. Galbraith, one of the greatest economists of the last century champions the idea that a society’s importance is more than the dollars and cents of its GNP.

The Takeaway; Wealth in Life is More than Money

If you play tennis at a country club, it is assumed that you are wealthier than if you play at a community recreation center. This may or may not be so. Do those at the country club have higher net worth and life satisfaction than those players at the local park, or do they have more debt, overhead, and flashy toys? The answers are not always clear cut.

My best day was spent playing tennis at the recreation center with El Carino and some teenagers from the neighborhood. The cost was free. And the richness of the experience was certainly not included in the Gross National Product. Galbraith and I believe there is more to successful societies than that which can be measured by economic metrics.

ACTION STEP:

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

Take an inventory and decide what things and activities provide you with the most life satisfaction. Make time in your schedule for them. You may be surprised to find that many of the things that offer true wealth are free.

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 makes you feel wealthy?

image credit; J.J. Henry

“The time has come to show appreciation for your favorite personal finance bloggers, products and services. From September 1 through September 21, personal finance bloggers may vote for their favorites among all the categories while the general public, including blog readers and fans, are welcome to vote for the blogs that inspire. The Plutus Awards are configured like this to bring attention to the products and services that meet expert approval as well as to the blogs that provide the best experiences for their readers, fans, and colleagues.” by Flexo of Consumerism Commentary

The Backstory

Early on, I saw the beautiful trophy on Len Penzo’s blog and was intrigued. Clearly he deserved this awesome Plutus Award, as a hilarious, informative, and talented personal finance blogger. I also appreciated his willingness to help me out when I first started blogging. In my heart of hearts, I hoped some day I would be publicly recognized for my blogging and writing efforts.

What started as a means to impart my years of investing and personal finance education and experience to the masses, has turned into so much more. Along the way, I found I loved writing about my passion; money and finance. I sincerely enjoyed introducing money concepts and my take on saving and investing to others. What surprised me the most about this endeavor was the international relationships I’ve developed with readers and fellow bloggers.

This post would be incomplete without  a shout out to Sam of Financial Samurai for creating the awesome Yakezie personal finance and lifestyle blogging network. The network members have been tremendous champions of my site.

I wrote the ebook, 20 Minute Guide to Investing, to use my MBA, portfolio management experience, and many years investing to demonstrate how simple investing can be. Further, I elected to offer the book for free as a gesture to introduce the scary topic of investing to my readers.

I never expected the book to be nominated for a Plutus Award!

Please download the book on the right of my site (if you haven’t already). I promise you will not be bombarded with future mail from me. If you feel it is an informative read, vote for me in the “Best New Ebook” Category at the Plutus Awards site.

Additionally, check out the other nominees, there are some wonderful personal finance resources in all of the categories.

I’d also like to invite any of you with personal finance, investing, saving, or budgeting related comments or questions to write in.

Thank you for reading Barbara Friedberg Personal Finance.

Best regards,

Barb

Please check out my guest articles at Yes I am Cheap, When is Good Negotiating Just Plain Cheap? and Yakezie,.com, Buying & Selling Real Estate Not According to Plan

News Flash; I had one of the best days ever! I’m nominated for a Plutus Award in the Best New Ebook Category for my ebook 20 Minute Guide to Personal Finance (download for free on the right)!! Please vote for me here!

Welcome to the, “Quick Personal Finance Tip.” This feature gives you access to quick tips to further your financial goals. Look for these tips periodically. Better yet, pick up my RSS feed or email subscription and follow me on twitter to get the word immediately.

How I Painlessly Solved Two Pesky Tech Problems

I just moved and I couldn’t find my Quicken software disc to load on my new desktop computer. Add to that, my printer has not worked since June, even after installing the “new” complimentary printhead!

Typically, for these types of problems, I search the website and undergo the long and arduous task of calling customer service, choose from countless options, and wait until a real person materializes on the other line. Rarely is this activity completed in under 30 minutes to one hour. And it always involves pushing a lot of buttons and countless phone transfers to the “correct” agent.

Incident 1

Yesterday, after realizing I had no idea where my original Quicken CD was, I selected the on-line chat option for handling my problem. I logged on to the chat and was connected immediately with an excellent representative. After sharing my problem, informing him which version I owned, and how long I’d been a Quicken customer (15 years), he solved my problem!!!

Within 15 minutes he facilitated an on-line download and recapture of all my files.  He stuck with me the entire time and made sure I got what I needed.

During any pauses, I could work on other activities thereby not wasting any time.

This experience surpassed my expectations!

Incident 2

The newish printer has caused a fair share of stresses since purchase. Finally, after months without a functional printer, and the awesome customer service experience with Quicken, I decided to echat with the printer’s online representative. After discussing prior problems and solutions, the representative decided my printer was unrepairable and immediately put in an order to send me a new one!

I can’t ask for more than that!,

The entire process chatting on line took about one half hour and during any lapses, I worked on other matters!

Maybe I was just old school in continuing to go the telephone customer service route, but from now on, I’m echatting for customer service help.

Barb Around the Web

I’m a Brain Trust columnist at Benzinga; please enjoy, How to Cut the National Debt and Resume Economic Growth

Personal Finance Carnival at Stumble Forward published How I Saved $3,000.00 living with the ‘Rents

Carnival of Wealth at Control Your Cash published Wealth in Life; Persistence Leads to Success

Carnival of Passive Investing at Stock Market Basics posted What Should I do With My Investments Now?

What type of customer service do you go in for? Have you had a pleasant customer service experience recently?

image credit; proatheleteinc

Sandy, at Yes I am Cheap nominated me to participate in the My 7 Links project at Tripbaseblog to unite bloggers across the web and to reenergize some older articles. Not one to turn down a nomination, I am all in!

When Trip base said just whip it out, don’t over-think it, I was even more interested. Who doesn’t want permission to slap something together?

MY 7 LINKS

1. MOST BEAUTIFUL POST

The Secret to Amazing Life Success – Who doesn’t want a beautiful and successful life. Read this article and get the secrets of a wealthy life!

2. MOST POPULAR POST

The Investment Answer; Behind the Cover – I’m asked to review countless personal finance texts and this one came from my role on the product review team of Yakezie.com. I published a companion interview with author Dan Goldie. The response was overwhelming and still continues to accrue interest. It’s a wonderful investing tome by well know authors (co-author  Gordon Murray). To my delight, this article was selected for publication in the Korean edition of the book.

3. MOST CONTROVERSIAL POST

How I Made $500.00 in Ten Minutes – This was a tough one as I typically avoid controversy. But I got some helpful responses from car enthusiasts who gave me some things to think about!

4. MOST HELPFUL

Is Holding a Garage Sale Worth it? –  If you have not held a garage sale, you certainly have considered it. Get insight about the cost- benefit as well as wonderful additional information from the commenters.

5. POST WHOSE SUCCESS SURPRISED ME

Learn Economics from SouthPark – This one could also fall in the controversial category. That said, folks liked how the analogy to a television cartoon helped explain some complex economic concepts. I hope it can open some eyes to the brilliance of the Trey Parker in spite of his raucous sense of humor.

6. POST WHO DIDN’T GET THE ATTENTION IT DESERVED

The Great Stagnation; Has the US Stopped Growing? The economic growth of the US is both scary and perplexing. I thought my take on this conundrum diserved more attention. Check it out and tell me what you think.

7. POST I’M MOST PROUD OF

How Long til I’m Wealthy – Educating readers about how long it takes to amass wealth is a core concept for this site. I’m passionate about teaching  readers to understand that time in the market is the key to financial success.

Now comes the fun part. I’m nominating the following bloggers to share their wisdom by publishing their 7 links on their blogs:

1. Family Money Values
2. My University Money
3. Find the Best Car Price
4. Funancials
5. Our Journey to Zero
6. Financial Excellence
7. Financially Consumed

image credit; b*wag

UPDATE; Over the next month my family is moving across the country to a new home. Please enjoy a variety of guest articles from top notch bloggers and sponsors. Also, catch up with earlier favorites from Barbara Friedberg Personal Finance.  

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.

 Below is a guest post from Super Frugalette. She blogs about being elegant in a fiscally contentious way. She shares with us that the IRS caught a faux pas on her tax return. It netted her $800 but wounded her pride.

In the past my last job, before I accepted the position of full time family COO (otherwise known as a stay at home mom), I worked as an accountant. I have done countless 1040s…I have done my own taxes for years. Many of the years had more complicated returns with Schedule E  (rental real estate) and one year painstakingly tracking $22K worth of medical expenses for Schedule A.

Thus you can understand how horrified and humbled I was when I received a letter from the IRS stating that I had made an error. The letter told me that I did not include Schedule M and that I would be receiving $800. Schedule M is the “Making Work Pay Credit”. It is refundable tax credit. Most workers have received the benefit of this credit in their paychecks. Thus, their paychecks were larger.

How could I forget Schedule M?

Everyone gets M!

(Well not everyone, but if you make less than $95,000 as a single person or $190,000 as a married couple and you have income, you qualify for the making work pay credit…I am starting to get way too excited about talking about taxes so I will stop…)

I knew everyone got M in 2009. I had forgotten that it continued into 2010 as well.

If I had paid for tax software, Schedule M would have been listed as a form for me to fill out…but no, I *do* taxes…I know it is snobby but it feels so beneath me to pay for tax software and I am a huge fan of freefillableforms. I mean it is FREE. What is better than FREE.?

$800 is better than free.

I wish I could say that I “learned my lesson” and that I will not use freefillableforms again. I will. However, I have new faith in the IRS. They are not just interested in auditing your return but ensuring that you receive your credits too.

So, the lesson learned from this story is do not be afraid to use free tax software. I still got my $800.

FYI – One month after I submitted my return, I received the letter that I had failed to file Schedule M. The IRS said it may take weeks for me to receive a check. The check was next piece of mail that I opened that day. It was right behind the IRS letter in the mailbox. 

What are some of your oops financial moments? Ever had your money pride wounded?