Archive for September, 2010

Tricking Yourself Into Success In Life

September 15th, 2010

Success in life is difficult without the correct upbringing and opportunities

Some are born into this type of environment, so they will have great success in life just by living in their parent’s home.  While I’m not sure if it’s good to be raised in such an environment (sometimes, it seems stressful), I do know that many of those kids will grow up to be the very successful.

While I had an excellent childhood for learning about frugality and the dangers and proper uses of credit cards, the drive for being successful was lacking.  Perhaps it was because my family was too busy running a business.  I would spend a lot of time with babysitters, and was even shipped off to Delaware in the summer to spend time with my aunt and uncle. 

While overall, my experience growing up was good, it didn’t really help me develop that killer instinct that is so critical in being a successful entrepeneur and employee.  Nor did it teach me to really stick to one thing, everything was in a constant state of change for me.

So as you can imagine, when I started college I didn’t have the training I really needed to excel.  so what did I do?

I tricked myself (really a form of brainwashing) into being successful!

In computer science, after I got past the freshman and sophomore years of college, the classes got very hard (actually all of the computer classes were difficult, with the failing rate as high as 80 to 90% for some classes).

So when I knew all my friends were out partying, I would get depressed trying to read complex programming textbooks.  Many times, I would want to say “forget this” and go out with my buddies.  So I had to develop some coping mechanisms which I will outline below.

Here is what I would do:

  • I would imagine that I was in prison and there was nothing else going on.  This was easy when I lived in a bachelor’s pad.
  • I would mimic the voice of friends that were foreigners in my classes just to encourage a different perspective and pronunciation.  Hey, it works!!!
  • I would take resting breaks where I would lay in my bed and close my eyes and let the solutions come to me.  This was much better than beating my brains all during the day, and then only to figure it out after I went to sleep that night.
  • I would implement a crude reward system.  For example, if I finished writing  a computer program, then I would go out with friends for the evening (or later that week).

Later, after getting my foot in the door at my various employers, I would use similar tricks.  But this time, I would focus on the work and ways to make it more enjoyable.  So at work, I viewed each problem and project as a puzzle or I would pretend that I’m the only one that could figure the issue out (like in a detective). 

It just takes little changes on the way you view the task at hand, to make that task enjoyable.

These are just some of the techniques that I use to create a sense of motivation for myself.

Readers, do you use any special tricks that make you more of a success in life?

-MR

The Secret Life Of The Joneses

September 14th, 2010

I always though my neighbor next door was a lot like my family.   I was wrong!

The Secret Life of the Joneses, Across The Street

Apparently, our neighbor across the street had a secret life that I was unaware of!  Over the years, I should have realized that they were wealthier than I thought from the clues that they revealed. 

Here are some of the clues:

  • Once at a party, the neighbor that I thought was like the Joneses , revealed to me that he refinanced his mortgage down to a 10 years loan!  I was impressed because I was paying extra on my mortgage too, and only had 5 years left.  But the way they spend their money, I assumed the were like the typical Joneses, meaning that they were buying things largely on credit.  But when I heard that my neighbor bought a 10 year mortgage, that should have set off some flags.
  • Their son (7 years old at the time) once told my son that he wants his dad to buy our house too (because of my son’s toys).  I always wondered what he meant by that, but I just dismissed it as kid talk
  • Three years ago, they both bought 2 new cars at the same time.
  • I’ve seen both the neighbor and his wife out on the port scanning the newspaper ads section like it was made of candy.  I guessed that they were looking for houses to buy for rental property.
  • Once at another party, the neighbor mentioned that he created and sold wine on the side.  He claimed that it was mostly a hobby, but he did have a real label and sold the wine at stores.
  • I noticed that the my old neighbor also was very handy around the house!  He even replaced his entire front door insert by himself.  Somehow he must have learned how to do construction work!  Most likely from houses that he owned as rental property?

So I learned that sometimes those who spend like the Joneses next door, are really just wealthier than you realize because of side jobs and real estate!

Have you ever had a rich neighbor, that you didn’t know were rich until much later, or after they moved like mine? 

-MR

Is Recycling Aluminum Cans Worth Doing Anymore?

September 13th, 2010

At one time, it was worth it for people to recycle aluminum cans for money.

So I thought it would be a good experience for my kids to the same, but I’m not so sure now!  You see, advances in technology has made it possible for the aluminum in the cans to be stretch so far, that the can walls are almost as thin as paper .  This in turn produces a much cheaper can!

While it might be worth it for kids, the hourly earning rate for crushing 5 cans a minute may not be worth it for adults.

See my calculations in the table below:

Recycling costs

Aluminum Statistics

 

The tricky part is that the aluminum prices vary weekly and by state.  So in my state, aluminum is going for .40 cents per lbs.  In some states (Michigan and California) people can get a specific money amount for aluminum cans.  For example, in Michigan the rate is 10 cents per can, in these cases, the effort would be worth it.

The 10 cents rate per aluminum can is much higher than my home state (Ohio).  We typically only get 1.3 cents per can.  In fact, a state like Michigan (which has such a great return policy) would have a rate of pay of around $30 per hour to crush cans!  There has even been scams where people (mainly store owners) from surrounding states take their cans over to Michigan for reimbursements.

Now back to my state, do you think $3.75 is a good rate of pay for a 10-year-old to crush aluminum cans?  I personally don’t think it is.  Especially when you factor in the gas money it will take to get the cans to the recycling center and the cost of the plastic trash bag to gather them in.

Update: We are trying to decide whether to have my son collect cans to make money off of them, or to drop off at the local Fire Department.  The Fire Department takes the cans as part of a charity effort.

I called a metal recycle center after this article was posted, and the aluminum rates are currently .60 cents per lbs in my state (Ohio)!  So the current price is actually 50% higher than the .40 cents per lbs price that I initially used in this article!  This just goes to show how much aluminum prices can fluctuate.

So revising my calculated number for hourly pay rate for crushing aluminum cans, the new pay rate would be 50% higher too, so it would be $5.63 per hour spent crushing cans!  This revised rate is a bit better for a 10 year old, so perhaps it is worth it to a 10-year-old?

Cheers,

-MR

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MR Cache 2010, Sept 11 – Bad Email Stuff Out There… Beware!

September 12th, 2010

Weekly Thoughts:

The “Here you have” email worm was everywhere!  A lot of well established businesses got zapped by it.  My hosting site experience a problem too.  I’m not sure if it was related, but it was the same day, so I’m inclined to think that is was.

If you get an email in your mailbox that has the subject line “Here you have“, don’t open it!  Delete it right away!  Even if it comes from your mom, friend, spouse or someone from Nigeria trying to give you a millions of dollars.

Invest It WiselyThe Rising Chinese  – Kevin talks about China, and how incredible fast their countries is evolving into a big player! 

Move To PortugalFrugal habits I’ve gained so far - Laura has some great, original frugal habits listed at her site!  Check them out, perhaps you find some new ones like I did!

Budgeting in the Fun Stuff10 Steps To Sell Your Car on Craigslist - I’ve never used Craigslist, let alone tried to sell my car on it.  But BITFS, brings up some great point in her article that has inspired me to 1st, use Craigslist more, and 2nd to consider using it to sell my car!  A truly sweet article!

Well Heeled BlogLife Without a Budget: 4 Questions to Ask  – Why make life harder than it has to be, especially if you don’t have a spending problem!  well Heeled ask some pretty smart questions about the need of a budget if you don’t have any problems.

Everyday Tips and ThoughtsColleges Worth the Investment????  I confess, I had a hard time picking which story I should pick from Kris!  She had another stellar week!  But this one hits at home with me because I worry about the crazy cost a college education is today for kids.  It’s getting to be like it was back in the 1800, where only the very rich could afford to go…

SquirrelerFrugal Baseball Player – Version 2.0 - Incredible story of frugality taken to the extreme!  While I’m not a baseball fan, this was still an incredible read worth checking out!

Consumerism Commentary:   Qualifying for a Mortgage as a Self-Employed Individual - Sounds like Flexo is at a financial crossroad of his own!  I can see where banks would be afraid of lending to a self employed individual…  But Flexo has a great track record, hopefully them give him the loan!

Financial SamuraiThe Secret To Early Retirement - I think Sam is onto something!  Check out this humor alternative idea to retiring early!

First Gen American.comDream Homes and Gut Reactions - Wow, to me I see a disaster, but Sandy has skills!  If you read her previous post before this Dreams one, you’ll learn that both Sandy and her husband are great at fixing up homes.  I don’t know if I could do it, but I believe in them and their choice!  The property does have a remarkable view!  I wish them luck!!!

Saving Money TodayWeb Scams Are On The Rise – Very scary statistics about honest, trusting people being scammed on the web via phishing and other bad techniques!  If you are a blogger (and tech savvy) please go out of your way to education other about these horrible scams!

Couple Money1st Anniversary Giveaway - Wow, what a great 1 year giveway…  I’m very impressed!

Grumblings of the untenured:  Searches that find our blog amuse us  -  Although I mainly read pf blogs, I find my self checking out this blog centered around 2 friends that are teachers that live in different states.  I think just their about story is fascinating.  Check them out for a different spin on life!!!  Rarely, do you get such opportunities.

My own favorite post of the week:

My favorite post was Things To Do In The Fall, because I was able to include the activities that other commenters mentioned about what they do in the fall!

Recent Carnivals:

Closing Thoughts:

Whew, this is almost a mini-carnival!  I find that there are so many great blogs out there, that I find it difficult to limit them to 3 or 4 as I initially planned for this weekly link love post!

Minimalist vs Misers, Money Fight Matchup #2

September 11th, 2010

Well, it seems the Minimalists already have a new challenger!  With the freegans beat during the last matchup, the new challengers “The Misers” have issued some serious smack calling the minimalists “Baby Nothings“.

So, let’s GET IT ON:

Who is the Greenest of Them All?

After a tough fight from both camps, this battle is won by the Misers!  You see, the minimalist, while taking a vow of trying to buy as little as possible has been perfectly countered by the Miser’s level of cheapness and using what they find (they recycle).  So from a “which group is the more green” perspective, the Misers actually win this one, but it’s not entirely because they try to be… no, it’s because they are too cheap to do otherwise.

Who has the Healthier Lifestyle?

Another tough battle (most misers live to be pretty old), but the minimalist pulls ahead (barely) on this one.  Part of it is their minimalist lifestyle, but part of it is the wisdom they have around health these days.  However, we only head about the wise minimalist, I’m sure there are plenty that are living on ramen noodles, day in and day out…

Which group has the potential to make more money?

This is where the fight becomes both ugly and unfair!  The misers are for the mostly part rich, while the minimalist are an unknown factor.  So this is like winning the fight by default since the misers are rich already.  If they need to use their incredible savings, they have access to it.

So the winner of this Money matchup goes to “The Misers”! 

This was a close call because a lot of the minimalist can evolve over time into Misers too, if they aren’t careful!  So it’s entirely possible for a “Baby Nothing” to evolve to a “Rich Nothing” if they are not extremely careful!

This fight was a big of a shocker to me, especially with respect to the similarities between the two.

Not all misers live the way the media represents them…  These two groups are very similar in many ways!  The minimalist being the younger version of the older, more wealthy misers.

I know that minimalism is the newest fad but what do you think?  Is the minimalist life style for you?  

-MR

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