5 Tried and True Financial Fundamentals [via SavingsAdvice.com]

Posted by Tad Johnson - Mar 27th, 2008 at 22:03

Phoning this one in, folks. Click through for the full story.

http://www.savingadvice.com/blog/2008/03/23/102071_tried-and-true-financial-principles.html

Five Tried and True Financial Fundamentals - SavingAdvice.com Blog via kwout

Self Reviews

Posted by T.W. Hanson - Mar 25th, 2008 at 18:03

goals

Twice each year, I find it useful evaluate my professional life. The introspective few hours spent looking at past performance and setting goals for the future can be more useful than reviews from your peers. You know what you have done well and poorly and where you really stand to improve. Give it a try sometime in the next few months, and try to achieve your goals. It could save you from the axe in the current economic environment.

Here is a small sample of what I will be working on:

Networking: Having just moved from the East to the Midwest, I have much work to do to meet new people. I intend to become more involved in the community through recreation, volunteer work and even faith based activities.

Smiling More: Although I am proud of my general stoicism, I know it can come across as depressing at times. I have gotten much better at this, but there is room for improvement.

Increasing Efficiency: By concentrating more between the hours of 7 and 6, I hope to cut back on the late nights and weekends in the office. This may just result in more work. We will see.

The Budget Theater

Posted by Tad Johnson - Mar 24th, 2008 at 20:03

Even with all the media alternatives, I still enjoy the good old fashioned movie theatre. There’s something comforting about the sticky floors, the warm popcorn, and the giant screen. The problem is, tickets have gotten expensive.

movie-tickets-popcorn.jpgGone are the days when you and a date could view a movie and get snacks for under $20. (At that price, you could buy the DVD!) Fortunately, there’s an easy alternative : the budget theatre.

Here in Milwaukee, the budget theatre costs a whopping $2 for a ticket ($1 on Tuesdays) and plays second-run movies–usually just before they’re released on DVDs.

Is it worth waiting a month to see that new movie? I sure think so. Since I’m a regular budget-theater-goer, I’ve more or less adjusted my internal movie release clock (after all, they’re all new movies until you see them!)

Saving a few bucks on a movie ticket isn’t going to make you a millionaire alone, but it’s just another example where a little patience can save you a bundle in the long run.

New from Amazon : Subscribe & Save Subscription

Posted by Tad Johnson - Mar 21st, 2008 at 7:03

Everyone’s favorite book music movie everything store (Amazon) has a pretty great deal on groceries : subscribe to your favorite items and they’ll deliver them automatically on a set schedule and give you 15% off and free shipping. Not bad for a vicenarian on a budget!

amazon subscribe

There’s my first (and only) subscription. I eat a lot of Clif Bars, and they are kind of expensive in the store (usually ~$1.15/each). Between the bulk discount and the 15% subscription discount, I’m getting them for $0.85 a piece! Plus, they’ll magically arrive at my door every two months. Thanks, Jeff Bezos!

First Time Charitable Giving

Posted by T.W. Hanson - Mar 20th, 2008 at 21:03

charity

Out from under the guidance of parents and maintaining a steady source of income, many people give their first autonomous charitable financial gift as a vicenarian. Done in the right way, this is healthy for all parties involved. There are clear and tangible benefits to the organization receiving the gift and intangible gains for the giver. Benjamin Franklin framed what he believed to be the noblest question, “What good may I do in the world?”

I have learned a few things from my previous gifts.

  • Find a cause about which you feel passionately. Focusing giving on a subject where you have a real interest increases the impact of your donation. Spreading funds widely has no moral flaws, but if it causes you to lose interest and stop giving, it isn’t good.
  • Don’t choose a cause for social status. You can worry about that when your last name is Kennedy or when you marry into a family that came over on the Mayflower.
  • Spread your gift out throughout the year. This protects you from unforeseen events that may put you in difficult financial shape. You also get the excitement of giving on a monthly or quarterly basis as opposed to once a year.
  • Don’t give beyond your means. There are seemingly an infinite number of worthy causes all of which would benefit from your charity. However, taxing yourself into a state of misery is ill advised. Use your budget to compute what you believe to be a reasonable amount and stick to it.

Giving should not be a chore. Your gifts should dovetail with your interests, making them a natural extension of your life.

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