Wanting It Bad

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We all want it. "It" is many different things to different people. "It" could be freedom from the cubicle. "It" could be no more living paycheck-to-paycheck or getting yourself out of debt. Maybe your "it" is having more time for your family. But do you really want it?? How badly?

We all want things. If we could just push a button to get the things we want, we would all run out of room. Obviously, things aren't that simple. First we need to determine which things we want. Since that list would likely be long, we also need to prioritize. Which things do we need or want most immediately? Which things would have the greatest positive impact in our lives now and in the long run?

OK. We've narrowed our list down to the key couple of things that really mean something to us. So how bad do you want it? What are you willing to do to make your dreams come true? Focus on your top priority "it" for a second. What are you willing to do to today and each day until you've reached your goal?

Often, the difference between those with dreams and those who are living their dreams is the intense, burning desire to make it happen. Wishes without action are just that - wishes. If you want something bad enough, roll up your sleeves, remove all obstacles and let nothing stand in your way. Using laser intensity, do whatever needs to be done to move your dream forward.

Working too hard/too many hours to work on change? Consider how you could possibly find one hour each week to keep pushing the ball down the field. No money to start that dream project you've always wanted to do? What have you done today to find the money you need. It only takes a small indication of success to ignite your spirit. Once you feel a little momentum, the excitement of actually acheiving your dream starts to grow. Focus enough thought and effort on making your dream come true and you will discover that burning desire.

Do you just want "it" or have you chosen to make "it" happen?

No Excuses, No Limits

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Although an education is no guarantee of success, developing a greater understanding of topics relevant to your goals can be a huge step in the right direction. Recently, access to courses at some of the finest colleges and universities have been made available to the public, free of charge. You will not get college credit for the courses and access to the professors is not offered. Aside from those limitations, you can experience and benefit from courses currently offered at institutions like Yale and MIT, at no cost to you.

If you feel like you have been limited in your growth at work, taking a few of these courses may give you a needed knowledge boost. If you are starting a new business, but feel that your understanding of current marketing methods is lacking, a couple of courses could get you up to speed. For someone who is considering a change in their field, dipping your toes in the water might help you decide which field is right for you.

Remember that if we stop growing, we are effectively losing ground to those still learning around us.

"I'm too busy and need my income. I can't take time out to go back to school." - With online/distance learning, your time is flexible. Take courses at your own pace and when your time is free.

"I can barely cover my bills now. How can I afford tuition?" - With these free offerings, from high-quality educational institutions, you can't afford to pass up an education.

Stop the excuses, remove the limits. The only one slowing you down is you. Grow. Thrive. Prosper.


Below are links to some resources for free online courses:

Brigham Young University
Capilano College (Canada)
Carnegie Mellon University
Glasgow University (UK)
Johns Hopkins Bloomberg School of Public Health
Massachusetts Institute of Technology 1,800 courses
Open University (UK)
Stanford University - iTunes U
Tufts University
United Nations University
Universidad Nacional De Colombia (Columbia/Spanish)
University of California, Berkeley
University of California, Irvine
University of Massachusetts, Boston
University of Notre Dame
University of Southern Queensland (Australia)
Utah Valley State College
Utah State University
University of Washington
Yale University

Additionally, below is a link to a range of sample courses:
Online Education Database

Your success is in your hands. You can do it. Nobody is going to do it for you.

See you in school!

Perseverance

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"Press on:
Nothing in the world can take the place of perseverance.
Talent will not; nothing is more common than unsuccessful men with talent.
Genius will not; unrewarded genius is almost a proverb.
Education will not; the world is full of educated derelicts.
Persistence and determination alone are omnipotent.
Press on!"
- Calvin Coolidge

Never give up. No one can take away your will to succeed. If you believe in something, stay with it.

When you are thrown a roadblock, look around - there is always a way over, around or through that obstacle.

Thomas Edison was known as one of the most prolific inventors of all time. His harnessing of electricity and invention of the light bulb did not come without setbacks. When asked about his failed attempts at the light bulb he stated, "I have not failed. I've just found 10,000 ways that won't work." Additionally he optimistically viewed his perseverance. "I am not discouraged, because every wrong attempt discarded is another step forward." Edison understood that his perseverance was imperative to much success: "Many of life's failures are men who did not realize how close they were to success when they gave up."

If you have a dream, focus on that dream. Picture yourself living at the end of that dream. Find the path you want and never give up. You eventually will find your success.

Press on!

We've Moved!

As evidence of my ADHD mind, I present to you the following:

I have decided that after three weeks of learning about blogging, how to use and fine-tune Blogger and developing a writing flow, the next step was obvious! Time to start over!

I have made the switch to Wordpress. A number of nagging issues came to a head when one Twitter friend was having difficulty subscribing to the feed. I will continue to update both sites for the next few weeks, then I will discontinue the updating of Blogger.

In business, as well as in life, you have to believe in what you are doing. Staying on a particular course, because it is easier than correcting, is a sure path to mediocrity.

There will be some minor changes in the coming days. My intention is to keep it simple, clean and focused on the content. Please update your bookmarks, links, subscriptions, etc. to Base Camp: Home here.

Thanks for all of the encouraging support!

Urgent vs. Important

They sound similar, but are they? Do you know what the difference is between urgent and important? I know you probably do. When was the last time you gave those two concepts thought when looking at a laundry list of things to get done?

Urgent could be defined as "compelling immediate action or attention".
Important has one definition as "of great significance, value, or consequence".

The telephone ringing could be considered urgent, but it may or may not be important. Completing a school or work project is probably important, but may or may not be urgent.

Having addressed those suttle differences, we can apply those labels to the things that need to be done in our lives. Some things are not urgent, nor are they important. Others have varying degrees of those two labels or characteristics.

With time management, we try to focus first on those things that are both important and urgent. Anyone out there still working on their taxes? How about those deadlines for college applications?

Next we make sure that we allow time for working towards those things that are important, but not urgent. Maybe we need to make some headway on that budget we keep putting off or planning our goals for the next year or two and monitoring our progress. Setting aside time to be with family can fit here. Maintenance projects that tend to sneak up on us could be considered important, but not urgent.

As time allows, we can look at those things that are urgent, but not important. Some phone calls or e-mail could be considered urgent, but not important. Your friends just called with plans to go away for the weekend tomorrow? Definitely urgent, but important? That's for you to decide.

Lastly, we have the things in life that are not urgent and they are not important. In this area we look to minimize any time spent at all. Junk mail goes here. Solitaire anyone? Try to eliminate the time wasters in your day that do not help you or your situation. You'd be surprised how much time this will free up in your life.

I am not suggesting that your life must be a perfect model of efficiency. Steering your time towards the things that will have an impact on your life, while making sure we don't ignore those things off on the horizon, will make for a more successful, satisfying life.

Next time something gets dropped in your lap, ask yourself "Is this Urgent? Is this Important?" Then decide when it will get done, if ever.

When you are all done, meet me by the pool. I'll be doing something that's not urgent and not important. But that's okay sometimes too.

Getting More Than You Bargain For

We all like to get our money's worth. Sometimes we get even more and it's not always all good. One area that this idea stands out is with food.

Over the years, my wife and I became very accustomed to eating out and using convenience foods. "Time is more valuable than money", as I used to convince myself. We would pay "small" premiums so as to save time spent cooking and cleaning up after meals. "Who has time to make a sandwich when I'm working so many hours?" The excuses start to catch up to you.

As we are trying to make a dollar last longer, we have looked more critically at the choices we make. Now we are eating out very infrequently and coming up with cheaper, healthier, more enjoyable alternatives.

On one business trip, I was sitting in a chain restaurant deciding what to have for dinner. As I was watching what I eat, I was thrilled to see a heart icon next to several dishes. Wonderful! A "heart-healthy" meal! I narrow down my choices to one great sounding dish, then look at the dietary details. To my horror I read the following: "Sodium - 1200mg". Just great. So I won't have high cholesterol, but I will die the death of a slug on the sidewalk.

I once was prescribed a treatment by a doctor that had me taking in 900mg of sodium. At least that had a skull and crossbones and a very clear warning that if I didn't drink a whole bathtub of water I would surely perish.

I read the details of every dish. I'm convinced they were trying to shorten their waiting list by killing off their customers. They must have had a commission deal with the funeral home next door.

Since then, I have become fanatical on reading labels at restaurants, when available, and on processed food packaging. Read enough of this stuff and you find one common thread. The food service industry, generally does not care about your health, as long as they can produce a food product that has a look, feel, taste and smell that will sell more product than their competitors, at less of a cost.

Let's say it again - most food purveyors are not ultimately concerned about your health.

To add insult to injury, I'm paying a premium for all this convenience??

Let's end this with a couple of quick comparisons:

- A meal out for my family of four, will cost between $40 and $120. For $40, I could buy four 1-1/2" filet mignon steaks, salad, fresh vegetable and a decent bottle of wine. Hmmm - that sticky table at T.G.I. Fridays or home?

- Coldcuts/sandwich meats at every supermarket or deli by us are going for $9-$10 a pound. For around $2 a pound we can buy fresh turkey breast, or roast beef, cook it and slice it, then freeze small portions for sandwiches over the coming weeks. For years, we were paying 5 times the cost, so that we could get the extra benefits of convenience, extra sodium, preservatives, artificial flavorings, artificial colorings and texture enhancers??

Nobody is going to be your advocate except you. Take the time to realize what you are buying. Make healthier, more cost effective decisions. Your life, and how you live it, are riding on it. An additional benefit to all of this is that we are teaching our children to live better, healthier lives, with less.

Are You Paying for Your Neighbors Groceries?

We all have different tolerances to, or thresholds for, accepting pain. Financially, this presents itself in different ways. One way you might see evidence of this is in gas prices. Gas prices go up and one individual will drive across town to save a few cents per gallon, while another will decide it's time to buy a new Hummer. Marketers are well aware of this and design their pricing strategies towards getting the most from each type of customer.

A company will develop their product's marketing plan with the expectation that some people will buy the product at full price, while others will buy the product only once discounted or on sale. Marketers use incentives such as rebate programs and coupons to entice these prospective customers to buy. These incentives are an easy way for a product manufacturer to get the higher profit from full price sales without losing sales to those who feel the product is too expensive. This strategy is used with every product from Cheerios to Chevy's.

It's wonderful if you can afford the luxury of paying full price, but why would you? If I asked you to pay more for the groceries in your cart so that the person behind you could pay less for the same products, would you do it? If you are not using available coupons for any given product, that's exactly what you are doing. You are subsidizing someone else's weekly groceries. If that’s your intention, kudos to you – very noble.

By using coupons you will minimize this subsidy. Of course you are probably weighing the benefit of saving a few dollars with the time spent "couponing". We typically spend about 20 minutes a week collecting coupons and planning our purchases to take advantage of the available manufacturer and store coupons. That 20 minutes of effort produces a savings of around $20.

Let's do the math:

• $20 divided by 20 minutes equals $1 per minute. That would also equal $60 per hour.

• To have $60 per hour to spend, we would need to earn around $80 per hour, before taxes.

• This indicates that the benefit of couponing, by our estimates equals earning roughly $80 an hour.

So for those of you who are making more than $80 an hour, stop reading, throw out your coupon wallet and get back to work instead. For the rest of us, this could be pretty sweet. Watch your newspaper for your local supermarkets' circulars. Search coupon websites online. Once you get in the routine of couponing, you'll wonder why you had been paying full price all along.

Below is a list of resources for finding coupons online.

• Use the Coupon Search Engine, at left - Enter the name of a product you use to find online coupons for that product

Some of the sites below require free registration:

• CouponMom.com – Grocery and dining coupons, sample and free trial offers and e-mail alerts for products you use

• WowCoupons.com – Grocery, dining and travel coupons, as well as rebates

• CoolSavings.com – Grocery and retail coupons

• RetailMeNot.com – Retail store coupons and online discount codes

• Coupons.com – Grocery and retail coupons

This is not intended to be an exhaustive list. There are thousands of sites available. Likewise, this is not an endorsement of any of these particular sites. Please use the above resources as a starting point to see which services are most beneficial to you.


Happy couponing!

The 80/20 Principle

The 80/20 Principle can give you a significant advantage in the decisions you make and by being super-effective with those decisions. The 80/20 Principle, also known as the Pareto Principle, looks at cause and effect relationships and finds a very common occurrence:

There is a natural lack of balance between inputs and outputs, causes and consequences, and efforts and results.

Simply stated, the 80/20 Principle holds that for most relationships. 80% of the results come from 20% of the efforts. Of course, the percentages may not be exact from situation to situation, but are found to be strikingly close. These are some examples of relationships that are found to fit the 80/20 Principle:

· 80% of profits coming from 20% of customers
· 20% of the world’s population control 80% of the wealth
· 20% of an office’s problems will come from 80% of the staff
· 20% of our clothes we wear 80% of the time

(OK Chris – where is this going?)

· 80% of our effort produces 20% of the value we receive

· 20% of our effort produces 80% of the value we receive

We spend the bulk of our time doing things that are not beneficial to us and do not help us reach our goals.

Let the last few lines sink in – reread them even.

We are wasting our efforts approximately 80% of the time. Wow! It’s time to rethink what we do.

What if we could take that 20% of the things we do that are really helpful and repeat that part, while avoiding wasting our time, energy and efforts doing what we do 80% of time with little or no results? This implies that we can create more success in our lives, by being very aware of how we spend our time and focusing on the things that really make a difference in our success.

As a few examples:
· In business, we should consider which group of customers is really providing our revenues and consider how to create more of those customers. Likewise, if some small group of our customers is creating most of our problems, maybe it’s time to “fire” those customers?
· On a personal level, are we wasting large portions of our time at home doing things that aren’t helpful and are actually distracting us from doing the few things that will really make a difference in our lives?

I realize that this all seems abstract, but living in a day when there never seems to enough time or enough money, can we afford to not see when we are wasting our time and money, with most of the decisions we make? Take the time to understand this natural inefficiency and learn to become more productive with the time you spend towards any goal.


(For more information, I would encourage readers to read more on the subject. The book "The 80/20 Principle: The Secret to Success by Achieving More with Less", by Richard Koch is a real eye-opener to how we can become substantially more effective using this perspective.)

Video Game Drain

Marketers have come to see our kids as a huge target audience. Why? Studies have shown that the largest portion of a family's discretionary income (the money left over after having paid our "must-pay" bills) is being directed by kids - think $100 sneakers and jeans. A second reason is that if they lure the kids into their customer ranks now, they have many years of marketing to that loyal customer - potentially 50 years or more.

How does this translate into a success action step for you and your family. The answer is twofold.

First we need to educate our kids. When you are with them in front of the TV and the commercial comes on for that latest greatest toy, take the time to explain that behind that commercial are some pretty smart people who are doing anything - yes, sometimes even lying - to talk your kids out of their money.

Secondly, try this technique: I sat down with my son one day while he was alphabetizing his Nintendo games (he is his father's son). We did a quick count that came close to 100 games. I then walked him through the math:

• 100 games at an approximate cost of $50 each equals $5,000 spent
• What are they worth now? (His answer: Little or nothing - maybe $5-$10 each)
• 100 games at a current value of around $1,000
• He lost about $4,000 in about 4 years

I asked him what he thought it would be like to have invested $5,000 in Nintendo or some other company. If the company's ROI (Return on Investment) was an average of 10% (a very reasonable historical average for this kind of company), he would have earned over $2,300 in that four years. Don't underestimate your child's ability to follow this. It will start some great conversations for the next few days. Even your kids will get that buying all those games was a waste.

I am not saying your child should never buy a video game. But maybe cutting the purchases in half and investing the rest could be a great decision for the whole family.

Savings Auto-Pilot

Imagine it's Payday. We're feeling momentarily rich. It's time for the little things that we have held off on all week. A Starbucks Carmel Macciato at lunch. Friday or Saturday spent doing dinner out and a movie. That quick run to the mall for those shoes you wanted all week.

STOP!!! – So far you have paid Starbucks shareholders, the restaurant owner and his wait staff, Ben Affleck and Steve Madden. Have you paid yourself? Have you put money aside for your rainy day or your future? Ahhh – just as I thought! It's just too tempting with Friday's check making you feel financially invulnerable. It's time to make some simple changes.

Much of the savings that we need to do can be put on auto-pilot. We live in the age of automatic wire transfers or ACH debit/credit transfers. Everything from general savings/investments, to retirement savings, children's education savings and savings for medical needs can be put aside automatically on a schedule you set.

If you have a standing order set up with your financial institution, they will transfer money from your main account – let's say your checking – to other accounts. Let's say that your weekly paycheck is for $500. You deposit that in your checking account and have orders set up to move $75 to your retirement account (maybe a Roth IRA), $50 to your savings account, $50 to your kids' education (possibly a Section 529 Plan) and another $25 to a Health Savings Account. At the end of the year, you would have $3,900 in retirement, $2,600 in savings towards your next car, $2,600 for education and another $1,300 for medical needs. You never once had to decide if this was a good week to save. It's automatic.

The best part is that by knowing that you really only have $300 to spend ($500 paycheck less $200 in forced savings), you will spend less. You won't fool yourself into feeling richer than you are and making purchases that you probably shouldn't.

If that isn't enough, many people forget one thing: good decisions (or bad ones) can have cumulative effects. Above we described a scenario with a person saving a total of $10,400 from $26,000 in take-home pay. What is the impact in five years if we keep that up? $52,000. It adds up quick.

If you are your own worst enemy when it comes to your finances, take the decisions out of your hands and put your savings on auto-pilot! Talk to your bank or investment brokerage to see what options they have available.

These ideas just scratch the surface of automating your savings. If you have a question, there is probably another reader/subscriber wondering the same thing. Please post your question using the comments section, below this post. I will be happy to go into greater detail in any area that seems to be of interest to all.

Live Well (Within Your Means)

We had touched on the area of over-consumption. So many of us today are very competitive in our need to have the latest and best (name your indulgence here). "Things" become our identity and our barometer of success, to ourselves, as well as to those we seek to impress: family, friends, neighbors, co-workers and clients. This might be in our clothes, cars, cell phones or expensive toys.

For a fleeting moment we have purchased happiness! Quickly we realize that we were mistaken. We have only assumed debt, filled our garages, added to our maintenance responsibilities and if we are lucky, we realize some great salesperson just talked us out of our money – again. Over time, that weight lifting equipment or motorcycle gathering dust in the garage becomes a constant reminder that we wasted our money.

If you are in the top 3% of Americans who can really afford those things, buy up! Hire someone to inventory your shoes! But for the rest of us, we should learn from the millionaires.

Millionaires don’t take out loans to buy boats or ATV’s. They don’t use home equity loans and credit card debt to finance vacations. They save. Then when they are done saving, they save some more. Eventually they have developed a series of nest eggs that can begin to provide extra income for that vacation, or boat, or home theatre – while paying CASH.

But you are looking longingly at the new BMW your neighbor just pulled up in. Forget it. He probably can’t afford it either. You’ll only be following him into the vicious debt cycle that most Americans are trapped in – picture the hamster wheel spinning freely while you get nowhere.

You want to break the cycle that almost all Americans are living in? Try something drastically different. Live like a pauper. Hold your head up high and declare that you have the patience and discipline to live well within your means. Impress yourself, as you watch the zeroes build on your bank statement. If you have the conviction to do what you believe in, you don’t have to impress anyone else.

Hit Pause

As the description of this blog indicates, we are looking at discovering or creating a better life at home. One routine that we began in our home was the Sunday afternoon dinner.

We all are busy during the week and for many families with kids, the weekends can be just as busy. Between religious obligations, sports activities and playdates, it can be hard to get the family together for five minutes. Time to hit the Pause Button!

We re-connected with something that we came to know as kids as the big Italian Sunday dinner. There are different variations of this, but simply put, it was a mid afternoon event where family and friends sat for hours to relax with the ones they loved over food and drink.

We found that this time frame works well for us. By Sunday afternoon most programmed events are over. As I tend to start work very early on Monday, I am already distracted by thoughts of work by early Sunday evening. Perfect – a couple of unplanned hours to reconnect with family before the week starts again!

Often, this time is spent at a simple restaurant. Our favorites are an Italian restaurant, which made its way out to Long Island from New York City’s Little Italy, and a Japanese restaurant where we can sit in a cozy, private room enclosed with shoji screens and with pillows to sit on.

At around 2:00 in the afternoon, most restaurants are not too busy and therefore, the meal can be unhurried. We use the time to really catch up with each other and what’s going on in each other’s lives. No one is racing from the table to “go check on something” or to start cleaning up. It’s the one moment we really seem to see and hear each other.

Life is short. Hit the Pause Button for your family and capture a few quality moments.


- Peace

Success Library

So now we know that if we want to be ready to spot our golden ticket we need to be looking. We also know that to actually see, we need the perspective of someone who’s in the game. Considering the current employment statistics, there has never been a better time to focus on a little self improvement and personal development through reading.

The following list would make a great starter library for your new bright future! As we said earlier, if money is tight, don’t buy these books. Go to the library. Take one out at a time! Studies have shown that by getting one book at a time we are more likely to actually read it.

This list is no particular order:

Think and Grow Rich
Napoleon Hill

How to Win Friends and Influence People
Dale Carnegie

The Power of Positive Thinking
Dr. Norman Vincent Peale

The 7 Habits of Highly Effective People
Stephen R. Covey

The 80/20 Principle: The Secret to Success by Achieving More with Less
Richard Koch

Awaken the Giant Within
Anthony Robbins

The Total Money Makeover
Dave Ramsey

Rich Dad, Poor Dad: What the Rich Teach Their Kids About Money
Robert T. Kiyosaki

You're Broke Because You Want to Be
Larry Winget

The Millionaire Next Door: The Surprising Secrets of American's Wealthy
Thomas J. Stanley, Ph.D. and William D. Danko, Ph.D.

Beating the Street
Peter Lynch

The Tipping Point: How Little Things Can Make a Big Difference
Malcolm Gladwell

The One Minute Manager
Kenneth H. Blanchard

Pick one. Some are easier reads than others. But a word of warning – you will begin to sense the power to control your life in ways you never imagined. You will find yourself coming back to the list for the next read quicker and quicker.

Print out this list and stick it on your refrigerator. Use it like a checklist. Work out those atrophied success muscles and get ready for the new you. You deserve the best for yourself and those that you love. Every journey begins with a step. Make that first step today!

Continuing Education

Why is it that we'll spend hours planning a vacation or a party, but we won't invest some time each day or week in making ourselves a little smarter? How many of the adults out there have read "Harry Potter" or "The DaVinci Code"? How many of you are reading "Promises in Death" or "The Associate" right now? OK - now when was the last time you picked up and actually read any kind of financial self-help book?

We are quick to complain that we are not making enough money, we're stuck in a dead-end job or we can't seem to make ends meet. Immerse yourself in reading. By constantly educating ourselves, we become aware of opportunities that others might miss.

If I spend my days, absorbed in my favorite sports team, then I will view my world from that perspective. I will eat, breathe, sleep and dream in that context. But if I decide that I will obsessively immerse myself in self-improvement and financial education. I will become keenly aware of the world that most effects my finances and how to better myself. "Lucky Breaks" and opportunities will present themselves. Luck is when opportunity knocks and you answer.

Are you going to miss a free money machine marching behind you because you were too caught up in that fantasy novel or bases loaded and a man at bat? We choose our futures.

Choose yours!

- Peace

The Budget

The value of planning has been seen as an elusive truth over time:

• "By failing to prepare, you are preparing to fail." - Benjamin Franklin
• "People often complain about lack of time when the lack of direction is the real problem." - Zig Ziglar

Taking the time to budget is a necessary step in assuring our financial health. But what do we really mean when we say "budget"? There are several steps involved. First we need to understand how we are spending our money currently. Secondly, we need to lay out a list of our monies coming in and monies going out. This is not complicated stuff, but it is very difficult for most of us.

If you are not already doing so, it's time to figure out how we are currently spending our money. Programs like Quicken can help - Intuit even has a free online version of its Quicken software: http://quicken.intuit.com/. Some people find a spreadsheet like Excel can be useful, with free online expense and budget templates available. There are those who are comfortable with a pad and pencil. The method is not important.

Take your checkbook and other available records or receipts and list what is being spent. Have columns that show who the payments are made to, the amount and the categories of expenses, such as "Food", "Gas", "Clothing", "Rent", etc. Some of our expenses will be very routine, occurring every month for the same amount, like "Rent". Others will be more sporadic, like "Medical Expenses". We should look at a couple of months at least. The longer the time frame that we look at, the more we recall those expenses that happen infrequently.

At this point we have an idea as to where our money is currently going. Time to begin laying out a plan. You can plan the whole year, but for those who are totally new to this, let's just start with planning out the next month.

List and total the income you expect to receive in the next month. Now, using the expense categories we discussed earlier, make a list of the types of expenses that you expect to have to pay in the next month and the amount you would guess you will need. This does not have to be exact. Getting started is the key here. A good plan today beats a perfect plan tomorrow.

• "Plans are worthless. Planning is essential." - Dwight D. Eisenhower

Include in this list of expenses money for savings. By paying yourself first, you are developing a pool of money to fall back on in the event of some unforeseen hardship, like a lay-off, medical surprises, or unexpected home or car repairs. 10% of your gross pay (before taxes) is usually a good start.

Total your expenses. Do you have enough to cover all of your expenses and some savings? Wonderful news! Any excess can be used to cover additional savings for that vacation you wanted or to develop your nest egg more quickly. I can see that more than a few of you are scratching your head because it seams that your money didn't last as long as your month.

This too is actually a good thing in that we are discovering, in advance, what many people don't discover until their debt cup runneth over. Time to sharpen the pencil!

Working with your family, go through your expense categories and ask yourselves:

• Do I need the half-caff soy double latte each day at $3 a cup or can a $.50 a pot cup of coffee at home do the trick? You'll live?? Good News - you just saved close to $1,000 a year
• Instead of eating out twice a week, maybe cutting back to once a week or twice a month can be sufficient. This move alone could save thousands each year.

"Got it Chris - but we've already cut out that kind of fat from our expenses!" OK! Let's dig a little deeper! Here are some of the areas that I find can be deceptively harmful:

• Fast food: Picking up McDonald's for a family of four once a week because we are too busy/tired to cook: This could easily cost close to $25. For that kind of money you could easily prepare a healthier, more nutritious meal at home and still bank an extra $500 a year. This doesn't include the reduction of future medical costs. If this doesn't convince you rent the DVD "Supersize Me".
• Rent? I mean go to your library and borrow the DVD. Many public libraries today have great, current DVD collections. Two movies a week from "Blockbuster" or "On-Demand" will run close to $500.

These are just some simple, easy targets. Many more lie within the details of your budget.

How hungry for change are you? In the words of Dave Ramsey, author of The Total Money Makeover, we should be telling our money where to go, instead of asking where it went. Taking control of our money is not rocket science, but it is work.

As with the most difficult tasks in life, it starts with one foot forward. Start now! You have it within you to take control of your life. No one can do it for you. It's up to you!

It's a great day!!

"Beware of little expenses; a small leak will sink a great ship" Benjamin Franklin

How did we get here?

It's getting tougher all the time. Do you find that you often have more month left over than money? It's easy to get there. But how?

First we have the "gottahaveitnow" camp:
We decide that what we want, or "need", should be satisfied immediately. That new car or TV, or that bigger house, is so mission-critical for us that lack of money should not stand in our way. We find our selves out "just looking", which quickly evolves into "we can't pass up this deal".

"Things" become our identity and our barometer of success, to ourselves, as well as to those we seek to impress: family, friends, neighbors, co-workers and clients.

Then there are those who succumb to emergencies:
Unexpected and under-insured medical expenses, broken down cars and appliances, or necessary home repairs to name but a few. In the recent past, medical expenses were the most common reason for personal bankruptcy.

The cost of responding to these needs, whether real or imagined, are made decidedly worse by the fact that we often use credit to pay for them. Credit cards, mortgage and equity loans, payday loans and rent-to-own arrangements are all part of the mix. "We can get you in the car you deserve!" or "No payments for the next 6 months!" or worse yet, short term loans that equal interest rates of over 100% per year.

Budgeting, planning, saving for a rainy day: these are the tools of the rich. They don't get caught paying substantially more for something, because they didn't plan for that purchase or that unfortunate event.

In the coming days, we'll talk about some of the basic tools you should have in your arsenal. Instead of asking yourself how you got here, you'll be deciding where you will be one month, one year and five years from now.

Introduction

Thanks for taking the time to check out Base Camp: Home!

So many people are struggling today. They are living paycheck-to-paycheck (or worse), have lost their jobs or are working each day waiting for the axe to fall, and at the same time are dealing with the stress of being a good spouse/parent. Often, the idea of having a few minutes left over for yourself is not even remotely in the picture.

You Are Not Alone.

Please walk with us a few minutes each day. Share in our failures and in our successes. Let us know what is happening in your life and how you are coping. Found a great trick in dealing with the things life at home presents? Share them with us and your fellow readers.

You've made your Base Camp - now let's make it better for all of us!