I was reading the blog of Marc & Angel Hack Life and loved quote # 47:
47. Money is a renewable resource. If you lose some money, don’t sweat it. You can always make more. However, if you spend valuable time stressing over money, or lost opportunity, you’ll never get that time back. Time is more valuable than money – time is the greatest constituent of life.
Monday, July 18, 2011
Saturday, July 9, 2011
Duchess of Cambridge is a Fashion Icon
Duchess Catherine on her way to Canada wearing a navy blue jacket
Catherine, Duchess of Cambridge throws a hockey puck during an official welcome ceremony
The Duke and Duchess of Cambridge at Wimbledon
Sunday, July 3, 2011
Tuesday, June 28, 2011
Top 5 Tips to Build Wealth and Success
Warren Buffett is worth $45 billion. That wealth isn't only a factor of savvy investing and good business — the "Oracle of Omaha" is also known as a penny pincher. Buffett still lives in the same Omaha, Neb., home he bought in 1958 for $31,500.
Follow his frugal formula, and you too may wind up with a lot more money than you ever dreamed.
This week Financially Fit covers five tips to build wealth and success.
1. Live Below Your Means.
Being wealthy isn't just a product of your salary or investment prowess; it's learning how to save.
"We can make a lot of money, you can make a little bit of money, but the second you spend all the money is when people get into trouble. Saving is the key to preserving your wealth," says Ed Butowsky, managing partner of Chapwood Capital Investment Management, a firm that manages money for wealthy individuals.
As many Americans realized during the booming real estate market, just because you think you can afford something doesn't mean you should buy it. Keeping an eye on your bottom line will pay dividends over the long term.
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2. Bounce Back From Defeat
With nearly 15 million workers unemployed right now in the U.S., it's easy to get discouraged. Don't! Most successful and wealthy people have overcome obstacles and failure along the way. Steve Jobs was ousted from Apple when he was 30. Today, he's a billionaire and a legend. Plus, after getting fired, he created another billion-dollar media company, Pixar.
"Bouncing back from defeat is something all great achievers have. They have this undying belief good things will happen and will continue to happen," says Butowsky.
Take Michael Jordan. "His airness" was cut from his high school basketball team. Motivated by the rejection, Jordan became a star the next season. The rest is history.
3. Self-Promote
Regardless of the profession, the rich and successful tend to have a strong sense of self-worth — key to skillfully navigating an upward career path. Mark Hurd, who was ousted as CEO of Hewlett-Packard in August, couldn't be kept down for long. Using his business skills and connections, in September, Hurd was named president of Oracle. (Hurd and Oracle founder Larry Ellison are known to be close friends.)
4. Have Street Smarts
Bernie Madoff lived the high life for decades, scamming unsuspecting clients, with a money-making formula that proved too good to be true. Only afterward did we learn that with a little due diligence, most clients could have easily uncovered the fraud.
But it's not only the swindlers and the con men you have to watch out for. Many times, friends and family take advantage of the rich. Whether it's a handout or an investment idea, Butowsky advises his high net worth clients that in most cases, it's wisest to just say "no." The best way to do that: have someone else do it for you.
"You need to really set up a wall between you and your family," he advises. "If you don't want to give them (family or friends) money ... saying no is probably a good idea."
5. Buy Cheap
The rich can afford to splurge, but that doesn't mean they do.
John Paulson, a billionaire hedge fund manager, bought his Hamptons "dream house at a bargain basement price," according to Greg Zuckerman, author of the Paulson-based book, "The Greatest Trade Ever." The story has it that Paulson eyed the home while it was in foreclosure. Finally, on a rain-soaked day, he purchased the home on the Southampton town hall steps. He was the only bidder.
On New York City's Upper East Side, Michael's— The Consignment Shop for Women— has been a bargain-hunting destination for more than 60 years. "We have a good percentage of women who can afford to shop on Madison Avenue but really like the idea of saving that money," says proprietor Tammy Gates.
From Chanel to Gucci and Louis Vuitton, the store specializes in high-end designer merchandise for a reasonable price. Speaking of her clientele, Gates says, "they're wealthy for a reason. They recognize that bargains keep people wealthy. Paying top dollar when you don't have to doesn't make sense."
Original article found here
Sunday, May 1, 2011
Saturday, April 30, 2011
Princess Catherine Make-Up
Its nice that Princess Catherine decided to do her own make-up on their wedding day "so that she could be sure that Prince William would recognize her. She looks absolutely radiant!
Sunday, April 24, 2011
Sunday, April 17, 2011
How to stop feeling guilty about spending money
- photo credit here
- 1
Look at your financial situation. If you are solvent, able to support those you need to, have extra cash, and have an emergency fund, know that it's fine to spend a little extra money! There should be no issue in getting that new, hardcover book you've been eyeing or spending a few extra dollars to get a fancy lunch with friends.2
- 2
Understand where your cash goes. If it helps you to understand that you money isn't being wasted completely, look at what happens to it: in buying a glass of orange, juice, for example, money is going to the company that supplied it, the store you bought it from, the worker who picked the orange, the farmer who grew the tree, the company that built the car that the worker drove, and so on. It's a never-ending cycle of where the money goes. Look up some economic theories to understand why spending money stimulates the economy.
3
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Realize what you're doing with your money otherwise. If you're not spending that few dollars in your pocket, it does nothing but get sucked through the washer a few times. If you never spend it, it stays for years without going into circulation and benefiting you little.
- 4
Consider your money-spending a gift. Try spending something on yourself as a reward once in a while: plan on buying something when you get that major promotion or for your birthday. Small rewards like this will help you feel as though you're treating yourself without turning into a full-blown addiction to wasting hard-earned cash.
- 5
Look at what you need. If you feel bashful spending money on basic needs, such as food, really reconsider why you feel this way. Some things are necessary in life, and it's hard to get them without spending some money. Don't ever think of these things as luxuries, and don't budget yourself so harshly on them.
- 6
Get a little job on a side. In order to combat my Spender's Guilt, I started writing online. I consider my usual income to be what it always has been: pretty untouchable. The money I may online, I reason, is something I wouldn't have ordinarily, so I should feel perfectly fine using it to treat myself once in a while, so long as it doesn't exceed the amount I make writing.
Nice article about feeling secure
How to Feel More Secure
How secure you feel is largely determined by how secure or insecure you feel as a person. If you are a generally insecure person you are likely to be frightened by every little disturbance that happens around you or by not having money. The world is trying to tell us that what we feel inside is separate from “reality”, i.e. the things that happen around us on the physical plane. According to this thinking, the source of your anxiety or insecurity is outside; hence people who feel insecure are trying to fix the problem on the outside.Going with this argument, people do all kinds of things to improve their security. Many people want more money, because they believe this will lead to more security. However this is not necessarily true.This may be fine if the source of your insecurity is outside, for example if you have received threats or if the area where you live is dangerous. In that case more money will help you to improve your present security or move to a safer area.But what if your insecurity comes from within? How can you fix it outside? I know what I’m talking about. I suffered rejection while being raised by my Aunt, which projected itself as insecurity in my later life.My insecurities and fears were very real and were compounded by the fact that we had little money. My wife and I often had blazing rows because of the fact that she bought stuff, sometimes even things that we needed. As far as I was concerned we shouldn’t have bought anything until we had “enough” money. I thought at the time that having more money would solve the problem, because I didn’t realize the problem was inside me.The truth is that money doesn’t necessarily give security. If you feel insecure, clearly examine what you feel insecure about. Is there a clear physical threat to your security, for example, someone threatened you personally? If you cannot really pinpoint where your security comes from, it is likely that it is from within.So if you are having anxiety relating to money, reason with your mind in a logical manner.
- Ask yourself who has died from not having money.
- Ask yourself what is the worst thing that can happen to you if you don’t have money. Try to paint the most ridiculous possible outcomes.
When you do this you confuse your mind.
- Remind yourself that there are people who are worse off than you, but they haven’t died.
Also do this. I’m sure there are many homeless people on the streets. In the morning talk to yourself and say:
- This morning I’m going to prove that I’m overcoming this fear. Stop next to some homeless people and give them some money, or something which they don’t have.
- Also ask them if not having money have killed them. When they say no, walk away and tell your subconscious, you see I told you that nobody has ever died of not having money.
You’ll find you will not believe these things you say to yourself, but don’t worry about that. The mind is a creature of habit and it will take a while before things start to change.
The key to establishing new behavioral patterns is to keep on repeating it for at least 21 days. When the thought of not having money comes, laugh about it. Tell others that you “have this silly fear” that you may not have money for the things that you need. You see these fears only have power over you as long as you don’t confront it. As soon as you confront, and share it with others it will start to go away.
original article here
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