Archive for May, 2010

MoneyReasons Weekly Cache 2010, May 30 Memorial Day

May 31st, 2010

MoneyReasons Weekly Cache 2010, May 30 Memorial Day

Weekly Thoughts:

It’s Memorial Day weekend! I’m enjoying the weekend, so I’m just going to go right into the weekly links. I’m thoughtless for today…

My Favorite Top 2 PF Blogger Posts For The Week:

Money Funk: Can Money Buy Happiness? Great imagery in my head from this post! It would be nice, and why not, I think Christine’s aspirations are just! After all, life is short.

Early Retirement Extreme: “Blogs as Passive Income, no way!” – Great analysis on the properties of blogging, from a truly great blogger!

My Favorite Post from Money Reasons This Week:

Can High Personal Integrity Hurt You and Your Friends: Sometimes it not worth it, or can work out for the worse. I don’t exactly lie, but I no longer wear the shiny white armour, especially for those that aren’t my friends or worth it.

Closing Thoughts:

Enjoy your weekend, the clock is tick tick ticking!

-MR

Celebrating Memorial Day

May 31st, 2010

Today is memorial day!

So, I thought I writeup so genernal facts about the U.S. holiday.  Below are some of the key facts about “Memorial Day“:

  • It’s a current United States holiday that commemorates U.S. soldiers who died during military service.
  • It occurs on the last Monday in May.
  • It was first used to honor Union Soldiers in the Civil War.
  • It was initially called “Decoration Day

Interesting, at first the day was a chance for politicians and veterans to speak about the atrocities of the enemy, which, at first , were the gray (Southern or Confederate) soldiers.  But eventually the day was used to honor both brave soldiers of the north and south.

It has a deeper history than I was aware of.  For a more detailed interesting read, click here.

Now I’m off to celebrate  birthday or a family member. 

Have a great holiday!

Seeing Opportunities That Others May Miss

May 29th, 2010

Two years ago, my son’s soccer team didn’t have a coach for 1 particular season, so our soccer organization asked the parents of my son’s team if one of us wanted to become the coach for that season.  I wanted to do it, but my wife talked me out of it because of my lack of experience.

So instead another dad took over, but he knew less that I did.  Now two years later he is the coach and unfortunately not the best choice.  I missed my opportunity, but it’s my own fault and although it’s a small regret, I kn0w that I will regret it for the rest of my life.  Believe in yourself, even if others don’t…  they don’t know your capabilities and passion!

So today when I was reading an article at www.freemoneyfinance.com called Would You Waste a Year of Your Life for $100k?, I saw an incredible opportunity, but not for me at my current stage in life.  The deal was the coupon site Groupon would pay a person $100,000 if they try and live on coupons only (no cash) for a year.

Now personally, with me having two kids I couldn’t do that, but if I were a college student, this would be a great challenge!  Especially if the student could take a few classes online.  The company payed for the person to stay in a hotel for a year, so living accomadations was taken care of.

Most of the freemoneyfinance commenters shot this down, but I think this opportunity requires a 2nd look, and below is a list of reasons why:

  • This person (a male) would learn to be an frugal expert via saving with coupons!
  • The company might pay him after the fact as a spoke person
  • TV show might find him appealing and so he might get paid interviews after the experiment.
  • He would write a book about what he learned since he would be the ultimate coupon using expert!
  • He might even develop a seminar that taught others his tricks.
  • He gets $100,000 and free living conditions!!!
  • The limited contact with others would enable him to concentrate on his studies (this would be like getting payed to study… a win win)!
  • Did I mention that he gets $100,000?  That’s a lot of money for a college student!
  • Fame!!!  This is definitely a feather that you could put in your hat.  At the very minimum, it would be a great family story!!!

So, I think this would be a great opportunity for a college student, especially if he could do that college year via online classes!  I would take some of my hardest classes that period, since I couldn’t do much else!

Yes, while I couldn’t do it now (wife, kids, etc), I would definitely do it as a college student.

What I make of it after the experiment is over and I have $100,000 in my pocket…, would depend on how ambitious and creative I was…

So, do you think this is a hidden opportunity, a diamond in the rough so to speak?

-MR

Loss of Honor, Walking Away From Your Mortgage

May 28th, 2010

I’ve had this title “Loss of Honor, Walking Away From Your Mortgage” stored in draft mode for over a month.  I hesitated in writing it because I was torn between how the government was treating us (practically giving money way to first time home buyers) and that fact that to walk away from your mortgage is wrong.

Why is it wrong you say?

Because you entered a contract with the other entity.  A contract is a contract and without it, American isn’t quite the same place.  What if your house lost 40% of it value, you might ask?  Well, I think that bites, but you still have a contract with your lender.   And the right thing to do would be to continue to make your payment as planned.  Besides, there is a good chance that your house might get some of it’s value back.  From recent readings, house prices are starting to appreciate a bit.

As you can tell, I’m up on the old soapbox about this voicing my opinion, but I kind of feel like a hypocrite!  I now own my house outright, so I no long have a mortgage payment, but that’s not why I feel like a hypocrite!

You see a very close friend has just did exactly what I’m saying not to do…  He bought a bigger, better house, and walked away from the mortgage on the other house.  He didn’t tell me directly, but his dad was upset and let it leak out to me.  Needless to say, I was shocked! 

Such an action that my friend preformed is called a “Strategic Default“.  This is where a person can still afford to pay a mortgage, but instead walks away.

My view of my friend has already changed for the worse, I find that I don’t want to hang out with him, and make up excuses as to why we can’t hang out.

I hope that Strategic Defaulters realize that doing such a deed, will tarnish their image, and they may even lose friends, or have their friendships reduced (like I did).

What would you do if a close friend or relative did such an action?

-MR

Can High Personal Integrity Hurt You and Your Friends

May 27th, 2010

Today hopefully I’m going to challenge your perception of integrity.  Our entire life we’ve always heard that we should keep our integrity.

When I was much younger, in a much different life, I was a bagboy at a grocery store.  One day we had an onslaught of customers all at once (this was common), and one of the customer’s had a leaky milk jug.  So the cashier had me run the leaking jug back to the dairy section to put in the dairy freezer and grab a new milk (the customer was waiting, so speed was of essence).  Normally, I would drain the milk and then go back to the cashier line, I think I did, but I was not 100% sure (I couldn’t remember truthfully).  But this day, it was so crazy that I believe that perhaps I put the jug down and ran back up to help (but this turned out to be wrong).

Later, I was told to go get carts because we were out (and I performed it quickly).  When I came back inside the store, I saw the dairy manager chewing out a guy that always goofed up and was the likely candidate for leaving leaky milk jug in the dairy freezer.  Since I knew I wasn’t sure if I caused the problems or not, I jumped in to take the blame (again, I wasn’t 100% sure that I drained the milk or not).  This made the dairy manager (my friend) look bad in front of the cashiers and goofy bagboy.

Later I found out the Timmy (the goofy bagboy), also took a milk jug back to the dairy freezer, so it might have been his jug that wasn’t drained…  After my display of integrity and believed honesty, the dairy manager no longer considered me a friend, and Timmy continued to do things that got him in trouble.

So in the end, my integrity wasted and costly.

The moral of the story is, before you jump in and become the white knight

  • Give yourself the benefit of the doubt, in all likelihood, I did drain it but quickly.
  • Weight if the situation requires integrity.  Had I not said anything, nothing would have changed.  But by taking action, I lost a friend.
  • The person I help never said thanks for jumping in. So the effort was wasted on someone that wasn’t even appreciative.
  • Timmy wasn’t smart enough to realize that I was sticking up for him.

Have you ever been in a situation where a great display of integrity caused more pain than not doing so?

MR

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