By 2 Cents on December 21st, 2009 | Category: Life Balance |  I got the blues thinking of the future so I left off and made some marmalade. It’s amazing how it cheers one up to shred oranges and scrub the floor.
~ D.H. Lawrence
Well said, Mr. Lawrence. We’ve spent the past few posts examining some essential but somewhat tedious financial concepts and I, for one, am ready for a change of pace. So, in keeping with the whole balance theme of this blog, we’re going to tilt the boat the other way this week and concentrate on other matters.
We’re going to put you in the Christmas spirit, if you’re not already there . My boys are off school, and I intend to let go of the day to day stuff and enjoy my time with them. Can you think of a better investment?
It is true that financial issues are important. They deserve our attention – but not all of [...]
Read on and enjoy … Taking a Break Is a Great Investment
By 2 Cents on December 18th, 2009 | Category: Life Balance |  Time is the coin of your life. It is the only coin you have, and only you can determine how it will be spent. Be careful lest you let other people spend it for you.
~ Carl Sandburg
Time. We can give it, receive it, plan it, take it, spend it, save it, invest it, waste it, kill it, or fill it. We can run out of it, but we can’t stop it. In investing as well as in life, time is an asset. It’s a depreciating asset but it does have some trade-in value.
The clichés surrounding time are too numerous to cover in full and they often contradict each other: Time is priceless. Time is money. Those statements sound contradictory at first, but if you think about it, both say that time has value.
At this time of year, let’s forget for a moment about the time [...]
Read on and enjoy … Time Is An Asset
By 2 Cents on December 17th, 2009 | Category: Family | It’s not enough to make time for your children. There are certain stages in their lives when you have to give them the time when they want it. You can’t run your family like a company. It doesn’t work.
~ Andrew Grove
Well, obviously Andrew Grove, a key player in the birth of Intel, thinks the answer is no. I bet you can probably guess that I’m going to say that it’s not a yes or no question. I think the answer, like so many others, is yes and no.
Anyone who knows children knows that their needs cannot always be scheduled or anticipated. Anyone who has children knows that parenting is a 24/7, always-on-call affair. In that sense, it’s sort of like being a business owner. That said, as a business owner, you might need to cut expenses, employees, or suppliers. But as a parent, you are probably [...]
Read on and enjoy … Should You Run Your Home Like a Business?
By 2 Cents on December 16th, 2009 | Category: Planning |  There are two ways to get enough: One is to continue to accumulate more and more. The other is to desire less.
~ G.K. Chesterton
Anyone who writes or reads about personal finance has their own list of what it takes to become financially independent. Some of the best have really stood the test of time and have been used as a basis for many other such lists. Dave Ramsey’sBaby Steps are probably the best known version and, although I don’t agree with everything Mr. Ramsey says, you can’t go wrong following his basic principles. I don’t think that there can be just one definitive list. There are many ways to achieve the same goal.
The list I’m giving you here today is one that I came up with off the top of my head, and if I went through the same exercise again next [...]
Read on and enjoy … 10 Steps to Fiscal Fitness
By 2 Cents on December 15th, 2009 | Category: Planning | The victory of success is half won when one gains the habit of setting goals and achieving them. Even the most tedious chore will become endurable as you parade through each day convinced that every task, no matter how menial or boring, brings you closer to fulfilling your dreams.
- Og Mandino
So far in our Balance Basics series, we have covered 2 of the 3 shampoo cycle questions. Today, we ask the third: Where do you want to be? Yesterday, we looked at our balance sheet and decided where the positives and negatives were. Now we need to decide what changes are needed. Using your balance sheet evaluation, set some goals for yourself. Obviously, finding ways to reduce debt and spending, or increase income and savings would be common goals for just about everyone. Your goals, however, should relate to the specifics of your unique situation. [...]
Read on and enjoy … 5 Goal Setting Guidelines
By 2 Cents on December 14th, 2009 | Category: Planning | In the middle of the journey of our life I came to myself within a dark wood where the straight way was lost.
- Dante Alighieri (1265-1321)
Having answered the “where are you” question by drawing up your balance sheet, it’s time to ask yourself the next question: Are you happy with where you are? For some of you, the answer will be a proud yes. For some it will be a big fat no, and for many more it will be something in between.
If your debt levels are very high, and especially if they are higher than you thought, I’m guessing you are pretty uncomfortable with your position. Maybe you are happy that you have minimal debt, but you’re not sure about some of your investments. Again, discomfort means change is needed.
Take a good look at each line item on your [...]
Read on and enjoy … Evaluating Your Balance Sheet
By 2 Cents on December 11th, 2009 | Category: Planning | Knowledge is power.
- Sir Francis Bacon, 1597
Yesterday, we started to answer the “Where are you?” question by doing some research on ourselves. I obviously don’t think you’ve got that done already, but I’m going to move on to what to do with it. If you’re in the habit of reading financial blogs, you may already have a pretty good grasp of your finances. This series on Balance Basics will hopefully act as a reinforcement to some and as new information to others. The end of an one year and the beginning of the next is a great time to revisit the basics. I’ve found that if I don’t revisit them a few times a year, it’s easy to let other things (like life) distract me and before I know it, I lose my way again.
Your Balance Sheet & Net Worth
Your next [...]
Read on and enjoy … Your Balance Sheet and Net Worth
By 2 Cents on December 10th, 2009 | Category: Planning |  A journey of a thousand miles begins with a single step.
- Lao-tzu
This post begins a series on Balance Basics that will provide some tips to start improving your balance sheet. If balance is a journey, you need a map. We’ll construct our map using the Shampoo Cycle as a guide, so the first task is to answer the question “Where are you?”. This isn’t as easy to answer as it first appears, so let’s get started.
To understand your current financial situation, you need to do some homework on yourself. Take your time with this process and do the best job that you can. Your success with future steps depends on it. Gather any and all documentation you can find pertaining to your finances. It’s all organized in a filing cabinet at your fingertips right? Don’t worry. I’m still working on getting my [...]
Read on and enjoy … Research Yourself
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