"I want to put my kids in the best possible situation to succeed and be happy."  A worthy pursuit and a familiar parental refrain.  The idea of that big goal can be overwhelming and frustrating at times but just any other big goal, we need to prioritize and take action. So we start with the basics of safety, healthy foods/lifestyle, financial responsibility, and reading habits (WIP), from there a popular thought is to expose kids to various activities and see what they like and are good at...

Here's one for mind, one for body that we have taken action on to help develop healthy, active, hopefully life long habits.

PLAY CHESS.  The benefits are well documented.  Discipline, Patience, Math Skills, Memory, Strategize, Analyze, Sportsmanship, etc.  I certainly could have used a bit more exposure to those skills early on!

Our son received a "Rivals" chess set (Red Sox/Yankees) for an early birthday which made it interesting enough to pique his young curiosity.  A few after school chess classes with their friends and it was off to the races!  You can play chess when you're 100 and derive benefits today.


RUN!  (or walk)We have always enjoyed this activity as a family, since the kids were babies in the double jogging stroller.  Recently, our son ran a 5k with one of his soccer buddies.  They ran 3.1 miles in 24 minutes!  They loved the race environment (music, the crowd, the race T-shirt, and especially the free food and goodies after the race!)  Two days after the race he asked me, "Dad, is there another 5k race this weekend?  Sign me up."  You never know what will stick.

There is plenty left to explore (languages to gardening, the list is endless) but we need to start somewhere.  What are some things you have done to get your kids off to a great start?

A small growing company and a small growing family both need leadership to be successful.

I'm "working" with both and I realize they have a lot in common.  I'm a firm believer in good KISS (Keep it simple, sista!)  and in my attempt to simplify and to build sustainable leadership, I never shy away from a good acronym.



CLEAR Vision-  "Where are we going!?"

COMMUNICATION-  Do not assume that your kids or your employees/co-workers know what you're thinking and don't assume you know what they're thinking!  One of my favorite illustrations of this point is the comparison of these two employee engagement lists.  They are almost completely upside down.
1.)  Top 10 things that are important to employees (employees responses)
2.)  Top 10 things that are important to employees (manager's responses)
Managers think they know what is important to employees, many do not.  Do you think you know what is important to your kids?  Don't assume.

COACHING-  Pay close attention, ask thoughtful questions, be a good listener, provide honest feedback, and build a realistic plan to improve that includes their input.  Give yourself the best chance to make a positive impact with your team and your kids.  Coach 'em up!

CAREER Development-  Showing the people around you that you care about their future is important.  Talking about and planning for the future are proven keys to employee engagement at work.  My kids are still in the, "I want to be an NBA player" phase of career development but it's on my radar.  I am keeping a resume-like log of the highlights of their young "careers" that will help them to understand the details of who they are based on their own past performance.

I have been conducting a lot of interviews for sales and sales management positions recently.  I have been amazed at the inability of so many to provide an honest, compelling narrative of who they are, through past experiences, how those experiences have shaped what they enjoy professionally, what they are good at, and what they are working on to improve.  It is important for a candidate to have a humble and healthy sense of self.  That gives me the confidence to believe that they know what type of position they are likely to be successful in and that they are not just looking for a paycheck.  The good one's have that story locked down, the rest spin a bunch of non-sequitors and leave random bits of information for me to piece together.  Those interviews leave me thinking about how to do it better.

I want to give my kids the tools to do it better.  I'll start with 4C's.

Did I miss the 5th C?

We leave the U.S. and the markets crash.  We arrive in the U.K. and London burns.  Good thing nothing crazy happened when we were in Paris, that city is absolutely perfect the way it is!

Things are expensive over there and the exchange rate doesn't help but the opportunity to experience some of Europe with our kids was worth every over priced British Pound and Euro.  Exposing them to a world outside of what we live every day and helping them to understand and experience that it is a big world out there, is truly a priceless experience.  They probably won't remember too many trip details down the road, the recall will begin to take shape around the pictures and video.  But who knows what the long term impact will be?  We will continue to provide experiences to challenge and expand their developing minds to recognize the amazing possibilities and opportunities they have before them.

Enough of that!  We had a blast and by following some of my own saving/spending rules, it was not a budget busting experience.  Whoa!




These kids hardly know who the Beatles are but they got the full-on Abbey Road experience!

Time to start planning the next trip...  where should we head next??
Brian

Hello friends,

We have been lucky enough to connect with a friend in London who has offered up her spacious flat for a few days.  We are staying for 10 days in jolly-old-England and a few in Paris.  Vacation jackpot for our family!!!  Time to turn the daily saving into daily spending!! (just for a bit)


No computers, just cameras to capture as many amazing moments as possible.  Our kids are 9 & 10 and excited to go.  We've planned pretty well (I hope!) and have some British Pounds and Euros in hand...

Time to make some memories!!!  

My apologies in advance to my #FF buddies on 8/5 but I'll make it up.

Off to London for some of the old and some of the new...


Talk soon,
Brian

Recently, I've been spending a lot of time consulting (as you may have noticed from my sporadic blog activity-- bad form, I know).  The company is hiring a few people and I'm leading the interview processes.  I've tightened up the job descriptions (based on the general goals and specific expectations for the position), written compelling (hopefully) job posts and outlined the phone and face-to-face interviews.  Ready to roll!

Going through this exercise got me thinking about my role at home...

Are my skills good enough to actually get this job at home if I had to apply for it?!

I ask candidates questions that lead to insights about skills and experiences that are likely to transfer into success in the key competency areas of the job.  Drive and the pursuit of continuous improvement are basic expectations at work.  Do I have that at home?  Probably not as much as I should.  Sometimes I need to remind myself that my "work family" isn't the real one and the real one should get my best effort.  Always.

Here are a few core competencies and questions that seem to apply for the job at home AND work:

Planning:  "How/When do you plan your day and your week?  How/When do you set your goals for yourself?"
Organization: "How do you keep yourself organized.  Tell me about a recent project you organized and what you might do differently next time.  How did you prioritize the steps of the project?"

My personal favorites: Self-Awareness, Improvement:
-  "When was the last time you asked for feedback?  What did you learn about yourself?  What action steps did you take to improve?"
-  What is the one area you feel you could improve upon that would make the greatest impact on those around you?  What have you done in the last 30 days to develop in that area?

Based on your answers, would you give you the job?

We know that sellers go to great lengths to contact and manipulate buyers.  The goal being to have us buy, buy again and buy more still, certainly more than your frugal self budgeted.  We have seen an explosion in rewards programs, CareCards, store specific bucks, loyalty programs, etc.  Does your keychain look like you're on the janitorial staff at the high school?  Those are, in part, intended to have us feel like we are special, part of the group, and as a result, getting a good deal from our pals, uhm, sellers.  When you stop to think about it, they all subtly play on some very basic human needs we all have, recognition, acceptance, and being part of something.  Fine.

Hey, have you seen the price of gas lately!?  Looks like $5 per gallon this summer.  WHAT?!  That's crazy!! "but wait", says my local grocer, "allow me to play on your fear and anger.  I will comfort you with a deal, friend."  Game on.

I've seen a few fringe "gas rewards" programs but the full-court press is on as gas prices continue to climb.  As with any advertised sale or deal, you've got to break it down into little pieces to get to the bottom line and determine if it's a good deal for you.  Here are a few things to consider before you buy that $2 box of fruit gushers to save 30 cents on gas.

1.  First PLAN to buy what you NEED based on the PRICE of that item alone.  Don't consider buying dog biscuits to get 100 points that will turn into 25 cents next week if you make it to the only Shell station across town, when you don't even have a dog.  Really, only if the program fits YOU, not the other way around, proceed...

2.  RUN THE NUMBERS:  Let's say you do plan to buy what you need at the price you want it at and you manage to get 200 points, whoa!  How much gas do you need and what's the total savings?  Scratch it out on paper and decide for yourself if it's worth it.

3.  APPROVED GAS STATIONS: Make sure you know where you can use the gas points and that it is convenient enough for you to actually use.  We'd hate to see you do all this work and then not even use your points!

Good luck!
What has your gas rewards experience been?

How did we do with our "How Am I Doing?" Segment ?

Our segment aired Saturday night (4/30/11) on The Suze Orman Show on CNBC.  Suze went over the details of our situation and handed out her grade:

Listening is underrated.  It is too often overlooked and not worked on like many other skills.  How many times have you heard, or even said, "you have two ears and one mouth for a reason", "listen more, speak less", "be a good listener, your ears will never get you in trouble",
"everybody lies but it doesn't matter because nobody listens"?  There are a lot of thoughts on the subject because it's something we know we  don't do so well.  Studies generally show that 1/2 of what is heard is not remembered.  Lovely.

We can become better listeners.  There are plenty of approaches and methods that can help us to become active listeners.  Understand your own communication style, that of the audience, focus, ask clarifying questions, summarize what you hear and repeat it back, supportive body language, etc.  These are all things that we can do to improve our own individual listening skills.  That is within our control.

There is another way to improve listening skills.  The listening skills of others.  You can have a direct impact on the quality of their listening by what you say and of course, how you say it.  But first, understand one thing:

Your favorite topic is you.  

Whether it's kids, interests, opinions, or recent experiences, we love talking about ourselves.  It makes sense, it is the one topic we know better than any other and better than anyone else.  Some people are a little better at controlling their enthusiasm for themselves and some are shy about it but we all do love this topic.

In sales, networking, or social events a primary goal is to get the other person talking about themselves.  It's a comfortable place for anyone to go and it makes them feel good, which helps them feel good about you.  When they are comfortable and "warmed up", the guard is down and they are more likely to be engaged, not defensive, and that sets the stage for a better listener.

Now, when you've got someone primed and ready to listen...  be careful not to spend too much time on your favorite subject!  Listen for that too.

Road to listening improvement:
1- Practice active listening.
2- Be aware of their favorite subject and help them get there with good questions.
3- Be aware of YOUR favorite subject.  Don't overdue it, people tune out, become bad listeners... and that's NOT what we're going for.

Winter vacation is over, the temperature is rising, and the snow is melting in the yard.  That's the good news.  The bad news is that I get a clear picture of how awful my lawn looks.  I have a lot of spring cleaning to do.
Great, another expense looms large on the horizon.  If I don't plan for it, it will cost me.  Cost me in purchases that I will make on their terms instead of mine.  Advantage: big box store.  They love a desperate, unprepared customer, don't they?

However, it's not too late to plan to save.  I received a 10% off coupon in the mail for Lowe's Home Improvement Store.  Good start.  Knowing that I have a number of things to buy and will end up spending money there, I look through my "gift card bulletin board" to see if I can get any help there.  I read recently that the average household has > $300 in unused gift cards lying around!  I keep them all out in the open on full display so I don't forget about them.  Out of sight, out of mind.  I found a few bucks in there but still not enough to make me feel like I'm making a dent.  I will also search for weekly sale items to add some savings.

Opening a store credit card is an option for additional savings on a one time purchase but that's not a good practice for your credit rating so I don't consider that a practical option to save on this purchase.

Discount gift cards are the best option I have found once I got over my own personal stigma of them...  Remember that nervous feeling you had when you used a home-printed copy of a ticket or coupon for the first time?  I thought an alarm was going to go off when they scanned it and security was going to come out and cuff me for trying scam the store.  I'm over that feeling now and have used these discounted cards several times. (20% from Ann Taylor- that's a win/win for my wife and me!)

ABC Gift Cards and Plastic Jungle are the two spots I have used to save between 7-22% on things I was going to buy anyway.  That's a built-in discount, a reward for my planning is how I like to think about it.  And on top of the sale and the coupon, I'm on my way to saving 20%+!

All it takes is a bit of planning.  The savings is there.  I hope my sad lawn and I will prosper from this effort this spring.

What else do you do to save a few bucks on upcoming large purchases?

Recent economic challenges have forced many people to take a closer look at their finances and that, of course, is a good thing.  The practical matters of spending less than you earn, saving, and budgeting have become familiar practices for more people than ever before.  I hope it sticks (we can be a fickle bunch, can't we?) but that's another topic for another day.
Once you really dig into your finances, it's easy to get overwhelmed.  Since I've been home and really digging into our own situation, I quickly realized that there are many different ways to peel this onion and I found it fairly difficult to assess how we were really doing.  The main question is, "Can we sustain our current earning/spending pace and still achieve our goals?"  If not, what has to change?, if so, how can we do better?

Regardless of what the reality of our situation is, the goal is to do better than we are doing right now.  Ok, how do we get started, there is so much to think about and it can take a lot of time to assess, research, then take action.  Where to begin???

The longest journey starts with a small step, right?  One of the first things I did was to give myself an idea of how much money we had to spend per day.  It just felt more manageable, like I had more control...  Take all the fixed costs out (mortgage, rent, avg. utilities, forced savings, etc.) and subtract that from the dollars coming in after taxes.  Then divide that by the number of days in the month and there's a real number I can keep in my head as we spend money throughout the month.  When you keep track of every dollar you spend each day you can see how you're doing against that number.  Instant feedback.  It's not the most important number in your personal finance arsenal but I find it to be a good guideline that sticks with me and has helped me to make some good decisions along the way.

Yes, I'm micro-managing our home finances.  It wasn't my style when I was managing people but the money can't make good decisions for itself and it doesn't give me any feedback.  Therefore, we need to be involved in every action and every decision.

The Super Bowl is this weekend and how can you think of the Green Bay Packers without thinking of Coach Lombardi?  He has become an icon for excellence that transcends sports.  We often see quotes and pictures of the legendary coach around people and things associated with success.


When I think about all the great achievements and the many different ways he has impacted leadership it starts to get overwhelming.  So I quickly click down into, "What's the take away for ME?"  In the spirit of keeping it simple, what are the thing(s) that I can relate to, understand, believe in, and realistically  implement?  If I get too fired up about too much, there will be NO meaningful takeaway.  I will just have a nice feel good moment and then go back to doing the same things...

I ran into a few Lombardi-isms this week but in the spirit of taking action, I've got to keep the list short and focused.  (Here is a long list of Lombardi quotes)

He used an Aristotle quote as the basis for the way he and his teams conducted themselves on the field and off the field.  When I feel like slacking, this is a go to thought for me.  When I'm tired and my kids are ready to give up, or give a lousy effort when practicing something, or when we would practice different sales approaches at meetings, I always tried to keep this in mind.  It's been a steady guide to keep us on track...

"We are what we repeatedly do.  Excellence is not an art but a habit."

Thanks Coach.  Go Pack, GO!

Which Lombardi-ism has made an impact on you?

What are the things that have had the most impact on you over the years?  Little things do mean a lot and a hand written note, on the surface, is a little thing.  It is widely recognized as a good practice in business.  I've found that it works at home too.


Taking time out of a busy schedule and caring enough to pull out a card, or just a piece of paper and write, not type, a message of thanks, appreciation, or acknowledgement of a job well done.  A message to let someone know that you have recognized their efforts and that you care.  We're all human and it feels good to be appreciated.

Recognized when you're not expecting it.  Everyone gets a nice card on their birthday or even a bit of recognition at a meeting but when you don't see it coming, it feels more sincere and often has a greater impact.

The hand-written note stands the test of time in the age of crazy schedules and a seemingly always full Inbox.  I still have a few that were given to me over the years and as I reflect back on them, I realize what a profound impact they really did have.  I always enjoyed writing them and "finding something right" that a member of the team had done.  It always let them know you were paying attention to the details.  That also had the added benefit of letting them know I was paying attention.  Nothing wrong with that!

I recently thought that I should give it a try here at home.  I wrote a note to my son and one to my daughter as I sat at each of their desks while they were at school one day.  I know that they both still have them, they mentioned it to Mom... my daughter also told her that, "I keep everything Dad writes to me."  Well, not sure that's 100% accurate but I'll take the sentiment!

It's a practice that should not be overlooked.  I need to do more of it.

Have you had any experiences +/- on the subject?

It wasn't exactly Tuesdays with Morrie but it was a big deal.  My Dad just retired and has to make his own transition to a full time life at home.  I just made a similar transition a year ago and he was actually asking ME for advice rather than the other way around.


Blown away, I found myself having a conversation wearing my "coach" hat with the coach himself.  I love this hat.  I built my career on helping my sales reps and managers focus on clear goals, listen to the challenges they were facing, ask good questions to stimulate thought (available resources) and creativity (new ideas/resources), and provide the coaching support to help them achieve their goals.  This is my passion and what I have done successfully for 20 years.  Now I found myself actually applying these skills to a discussion with my father.

My management philosophy (past work and now home) boils down to goal clarity, excellent communication, and continuous improvement (a culture of not being too satisfied and that it's ok to make mistakes).  You've got to know where you're going and make sure that all behaviors are aligned to help you get there.  Ok, those are a few management buzzwords and I know I got a few Dilbert-like comments during meetings when I used them, so I adopted a basic phrase that I beat like a drum.  It stuck and it always seemed to apply to help directors lead, and my managers coach more effectively.  It even applied to my Dad in his transition.  I also realized that I use it, unconsciously, with my kids.

EXPECTATIONS & FEEDBACK.

We know that much employee frustration (family too when you think about it) comes from the fact that they truly don't know what's expected of them.  Goals and objectives need to be clear and confirmation of understanding needs to be established,  which is often taken for granted.  I ask my kids to, "repeat back to me what you just heard me say", sounds basic but a lot of communication is lost in translation somewhere and is therefore ineffective.  Don't assume.  Make sure the EXPECTATION is clear.  Allow for discussion and input to make sure that it is realistic and attainable but in the end it must be clear, well established and agreed to.

That's the easy part.  Feedback is fun and easy when it's good but when behavior falls off course and isn't where it should be...  we need to have the courage to have an uncomfortable conversation to provide quality feedback.  Feedback that is objective, honest, fact-based, clear, concise, and definitely not emotionally charged.  What makes this Step #2 MUCH easier is if you have done Step #1 correctly.  If the expectations are clear and agreed upon, you can guide the other person to discuss how their own objective behavior is is falling short of expectations that you have discussed together in detail.  It can be a conversation that you initiate and guide that leads to another discussion about how to correct, or improve that behavior in the future.  The tone of the discussion is not accusatory, "you failed", but one of isolating specific behaviors and finding ways to do it better next time.  Creating an environment of trust and collaboration is a key ingredient to success.

I applied it at work, I use it at home (could still do it more consistently), and this student just got to use it with the teacher.  Thanks for asking, Dad.  I love this stuff!

We were out to dinner last night and my wife couldn't decide between two interesting fish and chicken dishes.  She asked the waiter to help make her decision, "Which is better?" she asked.
I waited tables through college, I've been on the receiving end of this question.  The answer is driven by the selfish pursuit of the big tip, gotta hedge your bets...  but there is also personal bias and the reality of how you're  feeling at that moment.  The trouble is they don't have any understanding of YOU.  How can anyone provide advice (large or small) that is a fit for you if they don't really understand you?

That got me thinking about the financial advice that I have asked for and taken over the years.  I asked some pretty smart people.  People I looked up to and respected.  I was confident that I was getting really good guidance and I did get some that was a good fit for me.  What I failed to realize at the time was that the advice-giver, always well-intentioned, was not perfectly equipped to make the decision for me.  That falls to me, not the waiter.

Everyone has different priorities, goals and values.  Everyone is at a different point on their journey.  We see the world, our finances, and each other differently.  There are many things that influence any advice, or coaching, that is given.  When people start to assume what's important to you, or guess what you would be most happy with, good, sound advice can become misguided.  It's pretty complex when I reflect back on the advice I got and how my decisions were influenced by that advice.  For example, the smartest guy in the room convinced me that leasing a car at one point in my career was the way to go.  I did it.  I look back on that bad decision as something I should have done differently.  His advice was influenced by his own situation and priorities and maybe a few assumptions of what he thought would be best for me.  I didn't trust myself enough to make my own decision.
What's good for one is not good for all, no matter how good the source of the advice.  You've got to listen to yourself after you've collected as much good info (research, advice, etc.) as you can.  Be open to all of it but at the end of the day, you have to live with the decision.  Make sure it's a good fit for YOU.

Don't leave it up to the waiter.

I'm on a new kick.  Laundering money.  At least it feels that way.

We all know that a cardinal rule of personal finance is, "Don't spend money you don't have."  Easier said than done, right?  I have a Upromise MC.  We're trying to stuff a few extra bucks into the 529's we have set up for the kids.  Upromise gives 2-5% cash back on all purchases made with the card.  It's not a ton of money but we might as well get something for spending.

One of the features I like most about this cc, unlike other cards (Amex, etc.) is that I can transfer more money to the card than my current balance.  I love it!  It's a great budgeting tool.  I can better plan out and pay for the coming week of spending with $$ I HAVE.  Remember the days before the now ubiquitous online account management/billing/payment functions?  Get that cc bill and hold your breath opening it to see what the damage was for the month?  That was like driving a car on the highway blindfolded!


My Sunday planning exercises consist of the basic coupons, store specials, and road map of the week (where and when I will make stops based on the weekly menu, etc.) but there is also the budgeting exercise. Paying Forward the money that I currently have, over to the the money that I plan to spend.  I roughly calculate what I can and will spend for the week.  This exercise helps to make better pre-decisions about what to buy and what NOT to buy based on the $$ I actually have.  I then move that money out of checking and over to Upromise.  I just turned my credit card into a debit card, while reaping the benefits of the credit card.  I'm using the cc as a vehicle to get something for, well, nothing.  It's also insurance against paying an outrageous rate for the "privilege" of the monthly minimum.

Transactions show up in the account almost instantaneously.  I'm addicted to my balance, check it probably too much but I am always aware of what I have and what I owe.  PAID IN FULL ahead of time has a much nicer feel than opening up that envelope, or email for the mystery amount...

I'm sure it's not how the credit card companies drew it up but good planning and paying it forward can give you a better handle and a more realistic view of your money from week to week.

Today I broke one of my own cardinal rules.  In fairness to me (excuse alert!), I was out of my routine.
 I headed out to get boots for my daughter.  I had 2 coupons in hand, ready to bag my bargain.  That part went well,  I even picked up a Christmas gift off the Clearance rack.  That was one rule I did follow today, always check the clearance rack.  But then...

It was still early so I drifted into the grocery store (Dave's) right next door, pricey but they do have free coffee.  I found myself under siege!  Holiday deals, music, decorations, BOGO's left and right, all attacking my senses, making the all too familiar play for my dollar.  Very clever, Dave.  But not so fast!  "I am a disciplined consumer and I won't fall for your emotional, superficial ploys", I thought.  It was at that moment I realized I was losing ground in the very grocery battle I had planned so hard to win...  With coffee in hand, I subconsciously reached for my weekly grocery plan, listing the things I will buy this week based on sales and coupons, arranged in envelopes by store.  I didn't bring it!  I feel odd even writing that but all that corporate training and organization has to creep out somewhere.  All I had was the store flier. I felt like I had brought a knife to a gun fight. It reminded me of a few things:

This is the shopping/spending season.  Consumers tend to get wrapped up in the season and are not as disciplined with their money.  Planning (70% of purchases are unplanned- get into the other 30%) and Discipline (stick to the plan!) are frugally important this season.

Don't leave home without it.  Toss the plan, coupon book, etc., in the car whenever you go out.  You never know when you're going to need it.

Stores work very hard to get you to buy more.   They play on your emotion (holiday joy) and work the science (from colors, to music, carpeting to product placement, etc.)  Keep your guard up.

Create the plan and stick to it.  That will give you a better chance to identify and avoid the pigs (the stuff you don't NEED)...  Today, I saw a sale basket with balloons, "Priced to move- WOW!"  The item was still a pig to me, even though it had lipstick on it.

What are some other holiday traps you are on the lookout for this year?

I've spent much of my time at home trying to figure out if I should be worried.  Another chapter in my personal "define your reality" series...  What I have learned is that I put a tremendous asset on my side: time.


I have parents that struggled, worked hard, and were frugal at every turn.  I was lucky, I learned a lot from them that has helped to shape my own saving and frugality.  Then, I got out of college and got lucky again.  I got a job where I was able to learn about retirement savings.  I remember one chart they showed at one of those retirement seminars (see below), that further impacted my approach to savings.  It made a dramatic impact on my life.  Saving became a priority for me.  Those learnings have shaped my current financial situation that is on solid ground right now as I cross the 40-line...

Nature or Nurture?  I don't have any research to go on but most money behavior and attitudes are learned.  We CAN have an impact on others (kids, nephews, friends) to further the understanding of this simple concept that makes such a difference.

Help someone, or help yourself, to get the bug for saving and saving early.  Put time on your side.  The numbers don't lie.  Markets change and interest rates fluctuate but the test of time is one we can help others to pass.  Money stigma be damned. (talk about it!!)  This is a big positive impact you can have on others.  Think of the possibilities.

Chart 1:  Initial investment at 45 years old: $10k, $5k each year up to 65 => $216,000 (My Investment= $110k)

Chart 2:  Initial investment at 25 years old: $10k, $6k each year up to 65 =>    $1,031,429 (My Investment= $250k)


Make sure you see the differences on the Y-axis

I want my kids to grow up with a firm handle on personal financial responsibility, embedded in their little brains tomorrow as deeply and comfortably as the things they do so effortlessly today.  Technology
and music are two things that come to mind as things that come easily, they enjoy and don't even have to think about.  That's where I want them to be with money.  Comfortable and  confident.  I'm working on the plan that will hopefully pay off for them down the road. (work in progress!)

My friends at smartcookies.com recently asked, "What are your two biggest financial challenges?"  Great question.  Most responses were eliminating debt and saving money.  As I read through, I kept coming back to a few basics that are important at any level... fusing the two, a new toy!

A Financial iPOD would make a great gift for anyone!  I'd like my kids to rock out to the sweet financial musings of CNBC.  HA!  Forget the toy, let's get practical...


iPlanning Organizing Discipline


When we fail to plan, we plan to fail.  It is clear that we don't do enough planning.  Too busy, who has the time?!  We've got to make time for the things that are important.  Planning time to make sure we are on track to achieving family and personal goals is always time well spent.  I try to keep the components of the plan in front of us.  Allowance, bills, what things cost, 529 savings and statements.  Good planning and communication of that plan is good for business.   "It takes as much energy to wish as it does to plan" Eleanor Roosevelt

"Don't agonize, organize", "Organize your life around your dreams and watch your dreams come true", "Order is the foundation of all things".  Take your pick!  Your personal financial systems, bills, goals, etc., have to be aligned is such a way that you can make sense of it, understand it, and manage it to improve.  When chaos, or a lack of understanding reigns supreme in this area, bad things happen!  My online folders and accounts are organized like my sock drawer.  Ha!  (mint.com helps too)  The kids have their savings passbooks, where they stockpile allowance, and a log of spend/save/give (spotty usage- I need to do better here.)  Next, I want to put together binders for their 529 statements so they can see what goes in.  I think it's a good entry point into market discussions too.  Mailed statements have their names on it, that's always fun.

Discipline doesn't mean we get taken out to the wood shed when we make a mistake.  It simply means we need to have the self-discipline to commit to a well thought out plan, good organized practices, and continuous improvement along the way.  The greatest plan in the world is a colossal failure if not acted upon.

Until Apple churns out a Financial iPOD...  We'll keep workin' it everyday.

I usually spend Sunday night and Monday morning planning out my week, making sure every day is as efficient and productive as possible.  Some weeks are better than others but things have been rolling along pretty well as I cross the one year milestone of running the family business...  The kids seem to be doing fine, my wife is thriving at work, not worrying too much about me burning down the house, or allowing the kids to do so.  It looks like I'm doing ok on the day-to-day requirements but then I started thinking about the big picture...  Are we on track?  On track to what?

I was blazing though my food shopping route today, working the plan that I had put together on Sunday.  I had my sale items listed by store with the coupons organized in their respective store envelope.  Every shopping trip is a game to me, who will get the better of this transaction, Them or Me?
Have I prepared to win, or am I in a rush, and therefore will my time become more valuable than my money, so I will overpay for items because I did not properly prepare?  I hate to lose...

I was reminded of two key factors in this game:

Discipline is an easy one for this exercise.  Did I hold myself accountable to do the proper planning to win, or did I not?  If you don't have the proper game plan, how can you expect to win consistently?

Motivation is important to excel at anything.  "What's my motivation?"  Saving money, family, college savings, etc., those are great but can sometimes feel a little too abstract to keep me fired up for the daily fight.  I need some raw meat... "good vs. evil", that should do it!

You don't have to look too hard to find it.  I remembered today that I had a $3 coupon at Walgreens (similar to CVS Extra Care Bucks) good for use on my next purchase with a few days before expiration.  If you're not organized, that little piece of paper will get lost.  Have you ever lost track of a mail-in rebate offer?  They usually win these games.

They are betting that you will make a mistake.  Maybe you will lose the paper, or miss the deadline.  Perhaps you will just get too busy and forget about it.  The odds are in their favor.  They wouldn't keep running these programs if the odds were in YOUR favor.  They are making a promise of future payment that they usually don't have to make good on.
Advantage: Them.

When we game plan, demonstrate the discipline to stick to that plan, and find our motivation... We tips the scales back in our favor.  Advantage: US.

How do you stay fired up?