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

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

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.

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?

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?

Sign up on right to get free WEALTH TIP’s Newsletter, and FREE bonus eBook; 20 Minute Guide to Investing! And be sure to pick up my RSS feed or email subscription and follow me on twitter so you get the word immediately.

Don’t miss Part 2 of this series; How to Live Well if You Work in a Low Paying Field

and Part 3; How You Turned Your Passion Into Cash

The money question that got me thinking…..

A regular reader has been asking me why I do freelance personal finance writing since the pay is not as lucrative as my work as a Portfolio Manager or Investment Professor.

If the sites that hire you for freelance writing are paying x dollars for an article, and you make more money offline for that same hour my next logical question would be; Why do it?

 Here’s how I responded:

It’s certainly logical to wonder why I do freelance personal finance writing for what is clearly less money than I make “in my day jobs.”

Wow, this philosophical and practical question got me thinking.

I am passionate about sharing sound money solutions and wealth building strategies.

 My blogging goals are to educate others in personal finance, investing, and wealthy living. I have amassed plenty of wealth and want to share what has worked in my life along with tips and strategies for others.

Over time my blogging activities cost more time than initially expected, I want to be compensated for my on line efforts. I also seek to grow my readers so that more folks can learn to be financially successful. Teaching others personal finance strategies through freelance writing helps others and yields a bit of financial return for my work.

I like trying new activities and expanding my life options. Blogging is a perfect example of this preference.

If it was only about the money, I probably wouldn’t blog at all since the hourly rate of pay is low.

Do you participate in “work type” activities which provide personal satisfaction and low pay?

Don’t miss Part 2 of this series; How to Live Well if You Work in a Low Paying Field

and Part 3; How You Turned Your Passion Into Cash

image credit; xorsyst

Wealth in Life

Sign up on right to get free WEALTH TIP’s Newsletter, and FREE bonus eBook; 20 Minute Guide to Investing! And be sure to pick up my RSS feed or email subscription and follow me on twitter so you get the word immediately.

Do you regularly feel worried and stressed? Does depression visit more than you’d like to admit?

There’s a free solution to this modern day malaise. According to Andrew Weil, MD, author of Spontaneous
Happiness, certain aspects of modern life create disharmony and depression. Weil posits that we weren’t designed for a modern, sedentary, internet surfing, TV watching, processed food eating life. And this contemporary lifestyle causes higher levels of depression in industrialized nations. According to Weil, the hard working Amish, who live a life of simplicity experience more contentment than their “modern” neighbors.

Here are a few factors Dr. Weil believes contribute to modern day depression:

• Inactivity
• Lack of human contact
• Excess processed food
• Excessive distraction and stimuli

What is Nature Deficit Disorder?

Apparently, our disconnect from nature and physical labor, coupled with the processed modern diet is creating a spiritual and mental void. Not yet a “clinical” diagnosis, it makes sense on an intuitive level. This condition struck me on a deep personal level. Not because I’m depressed, but because I spend a lot of time online and yet relish time in nature. Recently, a service project of apple picking for the hungry and a nature hike with my family were fantastic. Rich beyond money.

Wealth

Research finds and personal experience confirms that wealth in life goes way beyond money. A recent article admonished consumers for being consumed with financial excess and materialism at unaware of true worth. This got me thinking, what is the actual worth of my time with family or the plants I bought for our garden yesterday. Family time has no monetary price, yet time together bestows ultimate riches. In contrast, the joy that I’ll receive from a beautiful garden is also difficult to quantify.

Do not get me wrong, you need enough money to provide for basic needs and occasional splurges. But do not underestimate the importance of the following “contentment basics.” Free and readily available , incorporate these mood boosters into your life and become wealthier.

1. Be mindful in act and deed. Pay full attention to the task at hand. Enjoy the Zen of living.

2. Keep your circadian rhythms in sync by getting sleep at night in a dark room and some bright sunlight during the day. We’re built to thrive in these conditions without which our mood and energy level suffers. If there’s not much light where you live, consider an artificial light.

3. Strive for balance. Take the time to enjoy nature. Moderate your phone and internet use.

4. Get off your butt and be active; play with the kids, go for a walk, do some housework, go bowling or karaoke with friends. Think of early tribal cultures. Weil espouses that depression was not in their experience.

5. Give to others; it’s remarkable how helping someone out improves your well being. Think big, not small, even a smile or holding the door for someone can make you feel connected.

Try a bit more natural living and a bit less synthetic.  Build your wealth in life and appreciate the free gifts at your disposal.

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.

• Make a commitment to spend some time in nature this weekend.
• Allow relaxation and fun to be a part of every week.

What are some of your tips for a wealthy life?

image credit; Dani Ayu

Jerry Sandusky (former Penn State Defensive Coordinator) Abuse Allegations

ESPN is filled with coverage of the suspicions that Sandusky sexually molested defenseless boys over many years. An abuse of a 10 year old boy, was viewed by an assistant coach in the Penn State Locker room and reported to Joe Paterno, the illustrious coach of the Penn State Nittany Lions. Paterno reported this charge to the athletic director.

There was no follow through.

That’s right, abuse was viewed, and no one followed up nor reported the incident to the police.

WHY THE ABUSE WAS IGNORED

There are few that value the capitalistic system more than I do. I certainly do not fault anyone or any organization for trying to make a buck. But superceding this profit motive must be integrity and character. Furthermore, when it comes to abused children, there is no excuse to ignore any charges of harm to children.

How could this go unaddressed for so many years?

• Penn State is a Top 10 College Football Program.
• The football team brings in millions of dollars per year.
• Recruiting the top players is  key to maintaining the status and profitability of the football program.
• If sexual abuse by a key coach is uncovered, recruiting dries up, the program is shamed, and the money goes away!

What does this say about our society that the revenues of a football program supersedes the heinous abuse of children?

image credit; livelaughlove826

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

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

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Guest author, Helen Fabe, successful real estate professional and life long volunteer

El Carino, Zoey, Simon, and I have been living with my folks now for almost one month as we wait for our short sale condo purchase to finalize in our new

Spend Smart

far away land. Although disruptive in some ways, there are also quite a few benefits; In addition to mom’s good cooking, she is also contributing her second article to this blog.

As one of my biggest fans, mom is also a long time student of personal finance. Read these three real life stories and learn from her observations about how to make smart money decisions.

Mr. Money is No Object

Mr. Money is No Object is a member of a moderate means couple with two working seniors. For their anniversary, he spends $100.00 on their celebration dinner. I was a bit surprised at that type of extravagance and wondered, “Wouldn’t a $50.00 celebration dinner be just as festive?” After
all, he’s also saving for an expensive watch. I continued to ponder, “Does he have a rainy day fund?” In Mr. Money is No Object’s case, I believe he might have received equivalent satisfaction from a $50.00 dinner as from double the amount.

(Barb’s comment; this also raises the question of his values, if expensive dining is extremely important to him, maybe the value of a $100.00 dinner out, outweighed the $50.00 savings of a more moderate dinner!)

Mr. Want versus Need

My next friend is selling his home and is sprucing up the patio. Although he wanted huge pots to dramatically improve the curb appeal, he was concerned with the $100.00+ price tag. After careful consideration, he realized his goal could be reached with several smaller pots grouped together. Just as beautiful for a fraction of the cost.

In my opinion, that was an example of a sensible spending decision. Although he “needed” to spruce up the curb appeal of his home, he avoided the extravagant pots for a more conservative alternative.

Mrs. I Feel Guilty Whenever I Spend

My neighbor is comfortably retired with no significant financial concerns. Throughout her life she has been and still is quite frugal. For a special occasion she wants an expensive piece of jewelry and agonizes endlessly about the purchase. She repeatedly asks herself, “Do I really need it?” Well, of course she doesn’t need it, but there is no logical reason not to treat herself to the jewelry. Unfortunately, even after making the plunge and purchasing the beautiful bracelet, she continues to be racked with guilt and worries that she spent too much.

The end result, she can’t even enjoy the lovely jewelry. In fact, if you can afford a purchase, and want it, then it’s a waste to feel quilty about the spending.

THE TAKEAWAYS

• Consider your values when spending. Do you really enjoy and value the cash you are spending?
• Make a conscious spending choice. Is the expense worth the amount of time it took to earn the money?
• Be mindful about whether  your spending is a want or a need. Then make the choice to buy the item, look for a less expensive alternative, or avoid the purchase altogether.
• For those “tightwads” out there, if you decide to splurge, and can afford it, make sure not to ruin the decision with second guessing and guilt.
• Remember to enjoy your smart spending decisions.

Do you have any money tips?

image credit; Doug88888