Don’t Let Facebook Get You Fired

Thursday, March 26, 2009 7:17 - By The David

Contrary to popular belief, there is only one world.

Many people seem to think that there are in fact two worlds; the real world, and then a separate and unrelated internet world, full of privacy, funny status updates, and LOL catz.

Some people act like the two worlds are parallel to each other, and thus never intersect.

Unfortunately, that’s just not the case.

 

Exhibit A: the banking fairy

facebook_costume

Once upon a time, there was an intern with a great position at an international bank. On October 31st, he called off of work for a few days, claiming a family emergency.

By the next morning, pictures of his “family emergency” were on Facebook. And so were his co-workers.

Here is the response he got from his boss:

response1

And if that wasn’t enough, his boss BCC’ed the entire office in the response.

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Check out my guest post on DIY Home Improvement

Wednesday, March 25, 2009 20:49 - By The David

I had a guest post on Scordo.com today about 14 Tips for DIY Home Improvement. It was all about the lessons I’ve learned as a first time home owner / improver.

You’ll have to go to Scordo to read the full article, but here’s an outline of the tips. I hope you check it out!

 

 14 Tips for DIY Home Improvement

  1. Make a long-term plan
  2. Add one-third onto your material estimates, one-half onto time
  3. Make sure you get irrigation right
  4. Recognize your limits
  5. Buy supplies from local and independent companies
  6. Consider renting tools you’ll use infrequently
  7. Don’t forget about regular maintenance
  8. Do it right the first time
  9. Don’t put off projects until you’re getting ready to sell
  10. Make improvements because they’re important to you – not because of what it will do for your property value
  11. Choose plants that make sense for your climate
  12. Most of the real yard work is done in the fall and winter
  13. When you hire contractors, get estimates and references. Also, pay in cash for a discount
  14. Have fun, and take pride in your work

I hope you check it out!

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Crucial Questions for Twenty Somethings

Wednesday, March 25, 2009 7:32 - By The David

(The following is a guest post from Vince at Scordo.com - click here to subscribe to his feed) 

 

If you’re a Twenty-something consider yourself very lucky.

You’re probably healthy, super educated (only about 26 percent of Americans have a bachelor’s degree), full of energy, have a full set of teeth, and have very few, real-world commitments.

You’ve probably just started to think about how to go about “living” in the world, but have continued with the same day-to-day / task oriented existence that you’ve operated under since kindergarten, as opposed to an existence  focused on goal setting and planning.

If, however, you are that rare twenty-something who can plan ahead and set specific goals, you may have already started to figure out how you can truly enjoy a high quality of life over the long term.

What I’m advocating is that twenty-somethings begin setting life goals as quickly as possible so they can optimize living life, and avoid the nasty parts associated with being an average American consumer (namely, materialism, debt, living in the moment, etc…).

The three primary goals to focus on are simple and they include money, happiness, and family, but the associated questions that come with setting the goals are hard to answer.

However, the quicker you arrive at goal setting via answering the questions below the better equipped you’ll be at figuring out how to start running your life!

I’m not going to answer the questions for you, but instead pose the right questions so you can begin figuring out how to answer, and in turn, begin setting the right direction in your life!  Good luck!

 

Money Goals

What do you want money to do for you?

Do you want to earn money so you can purchase stuff (such as a car, flat screen TV, clothes, etc…), or do you want to earn money so you can make money work for you (in the form of an investment such as the purchase of stock or a CD)?

Would you feel better about saving 10 percent of your salary or 70 percent?  Do you see money as a means of security or as a vehicle to help you acquire things? Do you want to earn more to secure debt?

How do you want to earn your money; that is, by working for someone else or by starting your own company?  Do you get excited when you think or talk about money or does money make you feel uneasy?

 

Happiness Goals

What makes you happy each and every day?

Do you like to make things, sell things, talk about things, research things, teach other people about things, etc…? Can you see yourself doing the same type of job every day or do you require new challenges?

Do you crave being around people so you can get things done or are you most happy as an introvert? Can you point to a few, consistent, things in your life that have made you happy?

Is your personality consistent or does it change with the weather?  Do your family members all feel happy about the same sort of things?

 

Family Goals

How important are your father and mother to you?  How important are your brothers and sisters to you?  Do you enjoy spending time with your family or did your family life end when you moved away from home at the age of 18?

Do you desire to start a family and produce children?  Do you require constant companionship?  Do you crave isolation so you can work, read, play video games, play music, etc.?

 

 

About the author: When Vince isn’t asking questions, he is the author of Scordo.com, a blog focusing on practical life tips, saving money, how-to’s, and the occasional recipe. He created the site to share his life experiences with managing money, a home, and a life. To read more of his posts, click here to subscribe to his blog.

 

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20 Questions with Ramit Sethi – Founder and Author of I Will Teach You to Be Rich

Tuesday, March 24, 2009 7:00 - By The David

Back in October, I read something that changed my life.

I saw an article on Get Rich Slowly titled The Best $20 You’ll Ever Spend. It was a guest post from Ramit Sethi, extolling the value of talking to people you admire.

He suggested reaching out to people you look up to – especially entrepreneurs – and offering to take them to lunch. The insight you’d gain from a conversation would more than make up for the $20 you’d spend on lunch.

I took it to heart.

At the time, I was just starting this site, and was in need of a break. Get Rich Slowly was my favorite site, so I sent J.D. an email and offered him a $20 gift card in exchange for answering 20 questions.

The result? J.D. said no to the gift card, but was kind enough to answer any 20 questions that I wanted.

The interview helped me make an impression in the personal finance blogosphere, and was the first thing I did that really stood out. More importantly though, the lessons I learned were priceless, and have already had an impact on my life and finances.

Encouraged by how the first interview went, I reached out to another one of my favorite writers: Ramit Sethi of I Will Teach You To Be Rich. To tell the truth, I didn’t expect a response.

Sure enough, Ramit replied, and offered to do a telephone interview with me. Of course, he politely declined my gift card.

As a result of a simple email, I got 20 minutes to ask Ramit anything I wanted.

I know that Ramit is a polarizing figure in the personal finance world. Some people are offended by his tone, style, or approach to personal finance. But even if you don’t like him, I still think you should read this interview.

Like him or hate him, you have to admit that he’s very good at what he does. As of today, he is Amazon’s #1 selling author. He kicked Twilight off the top spot - an amazing feat in itself.

Here is the complete transcript of my interview with Ramit. We talked about entrepreneurship, goals, marketing, lessons learned, and starting a business (among other topics).

Make sure you read through to the end! It’s long, but I promise it will be worth it (that’s what she said… sorry, I couldn’t help myself).

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Carnival of Twenty Something Finances – Mustache Edition!

Monday, March 23, 2009 10:09 - By The David

In some ways, improving your finances is a lot like growing a mustache.

It starts with a plan, and isn’t something that happens overnight. You have to work hard at it, make sacrifices, and always keep your goals in mind.

It takes patience, and regular care. But if you get overzealous with maintenance, you may end up ruining all your hard work.

Another way they’re alike? At this point in my life, I’m not able to do what I want with my money or my facial hair.

While I may not be able to harness the awesome power of the mustache, there are some people that have done it so well, that it became a crucial part of their image and success.

I think there is a lot to learn from these mustachioed moguls, so I chose mustaches as the theme for this edition of the Carnival of Twenty Something Finances.

I hope you enjoy!

 

Editor’s picks

 that_guy

What you want to do, and what you can do, is limited only by what you can dream

- Mike Melville

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Weekly Blog Roundup, March 22nd

Sunday, March 22, 2009 17:04 - By The David

Ah, spring has officially begun!

Growing up, spring was my favorite season. The weather gets warmer, trees and plants come back to life, and school ends, giving you three responsibility-free months to look forward to.

Now that I’m older, it’s still my favorite season, even though I don’t have the summer off to look forward to. I still love the warmer weather, and it means I can begin landscaping in earnest (one of my favorite hobbies/chores).

I hope you’re enjoying the warm weather, and also the NCAA tournament. Hopefully your team is doing better than mine did.

Here are this week’s links:

 

No Credit Needed shares his thoughts on Debt Reduction and the Emergency Fund. This is one of those questions where there is no right answer. Some people say you should build an emergency fund before you pay down debt. Others think you should just pay down debt, because it makes the most sense financially. I split the difference, and try to start an emergency fund as I pay down debt, so I can avoid slipping backwards while still making progress.

Fine Tuned Finances has Five Ways to Maximize Your Career Opportunities in College. Unfortunately, getting your degree isn’t enough to stand out from the crowd and land a good job. You’ve got to look for ways to distinguish yourself while you’re still in school.

Shrinkage is Good has a fun article full of Financial Advice from 10 Fictional Billionaires. It’s very creative, and includes tips from the likes of Scrooge McDuck, Tony Stark, Thurston Howell the Third, and more.

My Supercharged Life gives three simple financial rules, and asks Have They Outlived Their Usefulness? I think they’re still relevant. People have just forgotten about them – much to their own detriment.

And in an article that combines one of my favorite authors with one of my favorite sites, Ramit Sethi has a post at Get Rich Slowly about the Psychology of Passive Barriers; Why Your Friends Don’t Save Money, Eat Healthier, or Clean Their Garages. It’s a great article that tries to change the way we think.

 

And for the fun link, one of my favorite web comics XKCD has finally tackled finances. In their latest, they tackle the AIG bonuses, but probably not in the way you think. He’s mad at the media, not AIG.

I agree with him. I think the real travesty here is how much time and effort are focused on the bonuses, when in reality there are much more important things that the media and politicians should be devoting their time to.

Not to mention it doesn’t make sense to get mad about $160 million in bonuses after we gave them $170 billion in bailout money. It’s like going to McDonald’s, and ordering a super sized Big Mac meal with a diet Coke. Yeah, you might save some calories, but it pales in comparison to what you’re going to be eating anyway.

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Carnival Roundup, March 21st

Saturday, March 21, 2009 8:00 - By The David

I had another good week in the carnivals.

 

Green Panda Treehouse hosted the Carnival of Personal Finance: Music Edition, and chose my article: Are Savers Dooming the Economy? NO!!! as an editor’s pick. This is an honor…the Carnival of Personal Finance is one of the biggest around.

Good Financial Cents hosted the Money Hacks Carnival – March Madness, Baby! edition. They included my post on Why Budgets Fail; Use Accrural Accounting to Ensure Success.

And last, but not least, The Penny Daily hosted the Carnival of Investing Strategies, and included my recap of Jim Cramer’s Response to Jon Stewart. It’s a funny feud, but make sure to check out the facts behind it too.

 

In other carnival news, I’m going to be hosting the Carnival of Twenty Something Finance this Monday, so make sure to get your entries in! I’m going to take a mustache-based approach to personal finance, so it’ll be good for a laugh as well as learning.

Also, there’s going to be a new carnival starting soon. It’s called the Carnival of Pecuniary Delights, and more than any carnival I’ve seen, they’re putting an emphasis on quality writing and quality articles. Not just accepting as many borderline-spam posts as possible for the sake of links.

Check out the carnival homepage for more details. The first edition is in two weeks, and they’re looking for hosts and submissions.

 

Thanks again to all the carnival hosts out there!

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Paying it Forward, Every Day

Friday, March 20, 2009 8:13 - By The David

I’m a big believer in the golden rule. I always try to treat others – especially strangers – in the way I’d like them to treat me.

I don’t expect them to help me in return… I’m just kind of an idealist, and hope that it makes the world a better place, one small deed at a time.

This past weekend, I had a chance to put my money where my mouth is. While traveling to a popular St. Patrick’s day festival (with tens of thousands of people, many drinking heavily), I was given a chance to help four different people.

I’m proud to say that I went out of my way to help all four. What would you have done? Here are the people that I helped.

 

1. The case of the missing wallet

While sitting on a bench talking to a friend, I noticed a group of people had stopped nearby to let their (intoxicated) friend sit down for a few minutes. After a while, they got up and walked away.

A few minutes later, I noticed a women’s wallet where the group had been sitting. I immediately gave the wallet to a police officer (so no one would accuse me of taking it), then I ran in the direction the crowd had went, and found the woman that it belonged to.

She walked back to the police officer with me, and was able to get her wallet back with everything inside.

 

2. The kilt that wouldn’t stay up

At the end of the first night, my friend and I were walking back to our hotel. It was about 3:00AM at this point, and the streets were nearly empty.

I was waiting for my friend outside of a restroom, when an incredibly intoxicated man stumbled out, and fell into a fence. He was at the point of passing out, and was having trouble standing up, or even keeping his kilt on.

The man was intent was laying down in the grass outside the port-o-john, but after about 5 minutes of talking to him, my friend and I were able to convince him that it was probably a better idea to go back to his hotel.

The only problem? He didn’t know where he was, and he had no idea where his hotel was (although he did know which one it was).

I knew there was no way that he could make it back to his room without getting arrested, so my friend and I walked him back. One of us had to stand on each side, to keep him from falling over or passing out.

After about half an hour, we managed to return him to his hotel and much-surprised friends without incident.

I know it was his fault that he drank so much, but he wasn’t causing anybody any harm, and I’m sure he would’ve been arrested and faced hundreds of dollars in fines and fees. I couldn’t let him get in trouble like that.

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