patience

Why It Makes Little Sense to Buy $1500 Google Glass

April 11, 2014 By Jeffrey Strain 2 Comments

reasons not to buy Google glass for $1500

Google has announced that for one day only, Tuesday, April 15, you may have an opportunity to buy Google Glass for $1500, when they will make a limited number of them available for sale. This may seem like a great opportunity to get hold of a high-tech gadget that allows you to take photos & video, make calls, check Twitter and get directions all while sitting on your face. It may be especially tempting since Glass is still not available to the general public, but the truth is that you could have acquired a pair long ago if you had really wanted one.

Glass has been selling on eBay for months, and what’s even more interesting, many of the units have been selling for less than the $1500 that you will need to shell out to get a pair for this one-day sale. Many are currently available for less than this amount with the Buy It Now option. Why wait to get the exact same thing a few days from now when you can get it for less at this very moment?

As with a lot of technological gadgetry, there is a high price to pay if you want to be an early adopter of any technology and the “cool” factor. This is especially true when everything that Glass does, you can do with the phone that you already have in your pocket.

The Marketing

Google is trying to get you to part with $1500 of you hard earned money by using two classic marketing techniques. In order to get these, you need to act fast (they are only available for a single day), and they want you to believe that not everyone can get them (they are only selling a “limited number” and they still aren’t available to the general public). Of course, since the same items are available on eBay, this isn’t the truth.

Do You Need Them?

Is there really a compelling reason that you need to get a pair of Glass beyond saying that you’re the first of your friends to have a pair? As mentioned above, they aren’t able to do anything that the phone in your pocket can’t already do. The only difference is that you have them on your face instead of in your pocket.

They Won’t Make You as Cool as You Think

While cutting technology and being a first adopter can seem “cool” in many cases, that doesn’t seem to be the reaction from a lot of people when it comes to Glass. In fact, those that have these glasses are often referred to as “glassholes” which isn’t exactly what most people would consider to be an endearing term.

If you truly are interested in getting a pair of Glass, the best financial move you can make is to be patient. There should be a whole new set of Google Glass flooding eBay six months from now at even better prices when all the people who purchase them on the 15th begin to grow tired of them.

15 Tough Love Money Quotes

August 22, 2013 By Jeffrey Strain 6 Comments

When it comes to money, our finances and the lessons that we need to learn, those lessons aren’t always easy to hear. In fact, a lot of the time, they are quite difficult to accept. Just because they may not be pleasant, however, doesn’t mean that they don’t ring true. The following are some important money lessons that everyone needs to understand even if it makes them feel a bit uncomfortable.

While this site is focused on money and finances, the truth is that these lesson apply in most aspects of everyone’s life. Take the time to let them really sink in and do you best to adopt them into your daily life. While it certainly won’t be easy to do for the vast majority of people, doing so will put you one step closer toward your financial (and life) goals. Sit back, read, and let the wisdom sink in…

“You can make all the excuses you want. But at the end of the day, all you’ll have are your poor excuses and another wasted day.”

“Life is not the way it’s supposed to be. it’s the way it is. The way you cope with it is what makes the difference.” — Virginia Satir

“Two things define you. Your patience when you have nothing, and your attitude when you have everything.”

“Live is not a matter of holding good cards, but playing a poor hand well.” — Robert Louis Stevenson

“If you want to change, you have to be willing to be uncomfortable.”

“You are the way you are because that’s the way you want to be. If you really wanted to be different, you would be in the process of changing right now.” — Fred Smith

“The problem is not the problem. The problem is your attitude about the problem. Do you understand?” — Captain Jack Sparrow

“Someone else is happy with less than what you have.”

“If you want your children to turn out well, spend twice as much time with them, and half as much money.” — Abigail Van Buren

“If it is important to you, you will find a way. If not, you’ll find an excuse.”

“A year from now, you will wish that you had started today.” — Karen Lamb

“Don’t be upset by the results you didn’t get with the work you didn’t do.”

“The reason we struggle with insecurity is because we compare our behind-the-scenes with everybody’s else’s highlight reel.” — Steve Furtick

“What screws us up most in life is the picture in our head of how it’s supposed to be.”

“The two toughest choices you will ever make: 1) make a positive change today. 2) Do it again tomorrow.”

If you know someone who would benefit from any of the above quotes, please feel free to share with them whether it be for their financial life, or any other portion. While it certainly isn’t easy, if you are able to find a way to adopt as many of these into your daily life, you will find that reaching the goals, not matter which area of you life they may reside, will be that much easier to achieve.

Don’t Chase The Cult Of The New

November 26, 2012 By Jennifer Derrick 1 Comment

On one of the board gaming forums I frequent the term, “Cult of the new” is frequently tossed about by posters. What they’re referring to are all the new games that come out each year. They’re new, hot, and hyped to the max. People pay exorbitant amounts of money to get their hands on the limited first printing, or buy the games before other people have even played and reviewed them. This is called, “Chasing the cult of the new.” What often happens, though, is that six months later people have actually played those games and found them lacking. Six months down the road those games that people paid hundreds of dollars for can be found for a fraction of that price, either because the game was successful and got a second, larger, printing or because it was a bad game it fell off the radar.

The cult of the new isn’t limited to board games. It’s found in electronics, video games, computers, clothes, toys, music and even books. People chase the cult of the new in almost every area, often paying top prices for things that turn out not to have been worth it. Had they merely waited a couple of months, they would have been able to read the reviews of those other early adopters and make an informed decision.

What makes it so hard to wait is that we’re wired to like new things. Our brains crave stimulation and new products certainly provide it. When you’re looking at a closet full of older items, that new, swanky thing seems pretty cool, no matter how much you may love and value your “old faithfuls.”The ting is, if you want to save money you have to learn to be okay with being behind. I’ve reached a point where I’ve trained my brain to get excited by things that are older and tested.

When I wait a while to buy something while I wait for the reviews, patches, and updates to come out, I tell myself that I’m not missing out, I’m simply delaying. The thing will still be new to me when (or if) I buy it. I’ll still get the joy of having something new and I won’t have the anxiety that comes with paying too much, chasing a hard to find item, or regretting the purchase when it turns out not to be so great. I’ll get the joy of an item I know will meet my needs and I will have money left over for something else. I remind myself over and over that the negatives of buying something the minute it hits the shelf are too great. (If that doesn’t work, all I have to do is remember some of the times that I did chase the cult of the new and ended up disappointed, annoyed, and sorry that I’d bothered. And there have been more than a few times in my life when I’ve made this mistake, so it’s not hard to find examples.)

Granted, there have been times that I’ve missed out on something by employing this approach. Things that were truly limited editions or that were good products but for whatever reason ended up discontinued have come and gone without ending up in my clutches. Sometimes it’s disappointing but I take the attitude that if I wasn’t sure at the time, delaying was the best decision even if it cost me the item. It’s not like I truly needed whatever it was for my very survival, and it’s not like I don’t have lots of other things that bring me joy. I’m better off having the money that I didn’t spend than I am with yet another physical item that may or may not have been great for me.

Chasing the cult of the new can become an expensive sport. Besides the money, though, chasing the newest things means that you often miss out on the great things you already have. I know there are a lot of great games in my collection that I’ve only begun to fully explore. I have a long way to go to master many of them. If I buy more new games, it means that my old ones will get less play time and I might never discover all the great things they have to offer. It’s this way with many things. Instead of chasing the newest everything, work on fully appreciating and using the things you already have.

(Photo courtesy of renaissancechambara)

11 Actions That Have Benefitted My Finances the Most

August 29, 2011 By Jennifer Derrick 1 Comment

I’ve reached one of those milestone birthdays where you stop and take stock of your life. I’ve been looking at where I’ve been and where I’m going professionally, personally, and financially. In looking at my finances, I’ve realized that there are eleven actions that have contributed directly to my success. These actions have all been things that were within my control. Certainly I’ve been fortunate or “lucky” in many ways, but by controlling these eleven things, I made the most of that good fortune and improved my circumstances over what they otherwise would have been. Here are the eleven actions that have benefited my finances the most.

Completed my education: I went to college and then graduate school. Granted, my major wasn’t anything earth shattering, but the education was valuable nonetheless. Beyond the books, my education taught me to manage time, to think for myself, to evaluate situations before leaping in, and to be a more informed person generally. It also instilled discipline and a work ethic (things I was seriously lacking in high school). Having those degrees has made me more marketable to employers and given me an edge when looking for work. I’m not saying that college and graduate school is the path for everyone, but there is no doubt that education is valuable to your finances.

Educated myself about money: Sadly, I didn’t learn much about money in school other than one horrible economics course. But since I’ve been on my own I’ve made it a point to educate myself about money. First I learned the basics of budgeting and then graduated to investing, insurance, and estate matters. Whenever a question about money pops up and I don’t know the answer, I go find the answer instead of just putting it aside. The more I know about money, the better prepared I am to make good decisions.

Kept up with job-specific education: My major in school wasn’t anything noteworthy or particularly useful in the real world. I made up for it, though, by learning a host of skills that are used in my chosen career. I’ve also made the effort to keep those skills up to date. Whether it was learning specific software, or the rules for writing different types of content, or a host of other things I use every day, I’ve mastered those skills. I still seek out classes and books that will increase my skills and I keep up with the marketplace to make sure I learn anything new that comes along. This makes me valuable to my employers and makes it easier for me to find new work when the need arises.

Avoided hasty decisions: There’s been little that I’ve bought or agreed to that was done in haste. Mostly that’s because I’m a big chicken and I fear the unknown. I like to go into things armed with research and information. This has kept me from buying too many things I shouldn’t, or getting into unwise financial arrangements. I take my time to make sure I get the best deal on the best product for me and I never do anything just because it’s supposedly a hot commodity or limited time offer.

Lived below my means: This is perhaps the most beneficial thing that I’ve done. I’ve never lived above what my income could comfortably cover. In the early days that meant living in a pretty crummy apartment and not having a whole lot of costly fun or vacations, but I did it and it kept me out of debt. Now I’m not stuck paying for a lot of things I did earlier in my life and I’m able to use my money more freely.

Frugal skills: I learned a lot of frugal skills. I learned them mostly out of necessity during the time that I didn’t have much money (see number 5), but even now I still do many of these things. I use coupons and will DIY any project that I can safely tackle on my own. I garden and sew and I repurpose and reuse as much as I can. I buy a lot at thrift stores and yard sales, finding some fun stuff and saving a ton of money in the process.

Stayed healthy: Granted, not all of this has been within my control. I’m fortunate to come from a family with pretty good genes. But what I can control, I have. I don’t smoke or drink to excess. I exercise and maintain a healthy weight. I get regular checkups and screenings to head off anything before it becomes a big deal. I take care of my teeth, too. Everything I can do to stay healthy for as long as possible saves me money, both in insurance premiums and out of pocket expenses. It also preserves my ability to work and earn.

Avoided unnecessary risks: Like I said above, I’m pretty much a big chicken. Because of this, I don’t take a lot of risks. I don’t invest in anything I don’t understand, no matter how many times people say it’s a “sure thing.” I don’t take big gambles with things like adjustable rate mortgages or home equity lines. I don’t take risks with my body, either. I don’t drive recklessly or engage in dangerous activities. I avoid as many risks as I can to keep both my wallet and my body in one piece.

Been uncool, old-fashioned and unfashionable: I am uncool and it doesn’t bother me. I don’t waste money chasing trends in clothes, homes, technology, interiors, or cars. I don’t keep up with the Joneses. I don’t upgrade things regularly just because there’s something newer out there. I buy things when I need them, with the odd exception of something that will really make a difference in my life in some way. It makes me an old fuddy-duddy, I guess, but I don’t need a lot of stuff and I prefer to keep things simple.

Been proactive instead of reactive: I like to plan ahead. If I can take care of something now rather than later, I’ll do it. This means that I’ve taken care of my estate planning at a relatively young age. I’m covered by all the necessary insurance just in case. I’ve saved for a rainy day. I’ve taken as many actions as I can to protect my future rather than waiting and reacting to crises as they come.

Started saving early: Second to living below my means, this action has helped me the most. I started saving when I got my first job out of school. (I’d saved some even during school, but most of it went to pay for school expenses rather than long term goals.) I saved both for retirement and for emergencies. Even if it was only $20 a week, I put money away. Over the years that little bit of money has grown into something bigger. Had I waited to start until I was making “good money” I wouldn’t have as much today.

These eleven actions and attitudes have made all the difference in my financial life. Sure, there have been other important decisions such as which jobs to take and when to go out on my own, but the eleven things above set the foundation that made those other decisions possible. I didn’t always take these actions with the specific goal of “improving my finances,” but looking back I see that’s exactly what happened. (Sometimes you do things without really knowing why and it turns out that it was the right thing to do.) Given the fullness of time I can see now that all of these things made it possible for me to be where I am now.

Patience is a Virtue

September 11, 2010 By Jennifer Derrick 1 Comment

One of the best ways to save money is also the hardest. You have to cultivate patience. In today’s world that moves so fast and where everything is about having and doing things right now, patience is hard to find and even harder to apply. Every day new things are coming out that we want. There are new games, new books, new movies, new cars, new clothes, and new gadgets. Each one is (supposedly) better, flashier, trendier, cooler, and more useful than the previous models. It’s tempting to run to the store every week or every day to buy all the new things. It gets worse as we head into the fall and the manufacturers start releasing all their new stuff for the holidays. But if you want to save money, you have to step away from this carousel of new stuff and learn to be patient.

If you are patient, the price of the thing you want will almost always come down. Books come out in paperback (or the hardback lands on the clearance rack). Video games, CD’s and DVD’s come down in price or go on deep sales. Movies go to the dollar theater or come out on DVD. Electronic gadgets get cheaper the longer they’re out. (Remember when the Kindle came out and it was $399? Now there’s a model for $139.) Blu-Ray players and discs have all come way down in price in the last year or so. Clothes get clearanced at the end of the season. Those who are patient can reap big savings.

Being patient also means that you don’t get stuck with stuff you don’t like or that is obsolete. How many times have you rushed to the store to get a new video game only to get it home and discover that it’s not fun? Or you ran to the store to get your favorite author’s new book and discovered that she’s lost the magic? It happens frequently. Many people have shelves littered with things they paid too much for only to discover that it wasn’t worth it. If you’re patient you can either acquire these things much cheaper, thus mitigating the financial sting of a dud, or wait for reviews to come out that will tell you it’s not worth it. There are also people who have shelves full of things that did not become mainstream. If you weren’t patient and bought an HD DVD player, you’re sitting on an obsolete piece of junk. Patient people waited to see whether Blu-Ray or HD would win. Of course the same thing happened when Betamax and VHS were duking it out, and LaserDIsc tried to slip in there, too.

Being patient doesn’t necessarily mean doing without. Being patient does not mean that you can’t read the newest book or watch the latest movie. It just means that you either wait to make sure you’re getting the most bang for your buck, or you find free or cheaper ways to get what you want. In the case of books, you can get new releases at the library. New release DVD’s and video games can be rented (and in some lucky locations found at the library). You can borrow books, DVD’s, and games from friends who bought them. Theatrical movies come to DVD so fast now that waiting three months isn’t long at all. If you have to see it in the theater, hit the local dollar theater. Electronic gadgets seem to refresh (and price drop) every six months or so. Wait for the second model and it will be cheaper and less buggy. If you have a birthday coming up and people are hounding you for gift ideas, don’t buy the new stuff and offer it up as a gift suggestion.

One good way to employ patience is to set up a one or two week rule. You won’t buy any new item or see a new movie for at least one or to weeks after it is released. No, the price won’t have come down that much, but plenty of reviews will have come out about the product. Thanks to the Internet, the first buyers post reviews as early as the release date. Give it a week or two and you’ll have a lot of reviews to check out and verify that the item is worth it. You’ll also hear from friends who bought the item. Maybe they love it and maybe they hate it. Let other people find the duds. If, after a week or two, it looks like a great product, then you can decide whether or not to buy it.

Another way to work on your patience is to limit the number of things you’ll buy on release date. Maybe you have an author that you dearly love, or a video game franchise that you can’t get enough of. It’s okay to say, “I’ll buy the work of author X when it’s first released, but all others will come from the library.” Or, “I’ll allow myself to buy the next game in game franchise Y and the next DVD in movie trilogy Z on release date and I’ll rent everything else.” Setting limits allows you to buy those things that are most important to you (thus keeping you from feeling deprived), but keeps the rest of your money in your wallet.

When you wait to buy things until they are either cheaper or proven to be worthwhile, you avoid ending up with piles of disappointing stuff. You save money and aggravation. I know it’s hard to wait when all your buddies have already seen that movie, or bought that gadget. But how many times do you hear them subsequently complaining that it wasn’t worth it? Let the impatient people pay full price while you sit calmly back and wait for the cream to rise to the top and for it to cost less.

Everyday Common Sense & Patience Will Save Money

June 29, 2010 By David G. Mitchell 7 Comments

Sometimes, common sense escapes even the most intelligent of people. We all make fundamental assumptions. Drawers should slide open and slide closed. Doors should behave in a similar fashion. When they do not, something very primitive and entirely irrational possesses all too many of us. We devolve to the level of the beasts and try to use brute force to close the uncooperative drawer or door.

Taking a step back, we would realize that something might be blocking the kitchen drawer or the door to the garage. Rational minds would then move to clear the obstruction. I have finally learned that, but only after a number of less than wonderful moments in which brute force resulted in something breaking, from rulers in my kitchen drawer to rakes that had fallen behind my garage door. There is no way we can defeat the laws of physics but we can try to work with them. Here are a few suggestions:

Don’t Force Anything Open: As described above, if a drawer or door is blocked, you are far more likely to break the thing that is causing the blockage or the drawer or door itself if you try to use force to open it. Never force anything open. Doors, drawers, dishwashers – anything that can be opened can also be blocked from opening. Take the time to unblock whatever it is you are trying to open.

Turn Right to Make it Tight: Most screws tighten to the right and loosen to the left. Always remember that and try not to further tighten a screw by “opening” it to the left. If you do encounter a screw that tightens to the left, make a note of it in case you ever have to loosen it later on.

Don’t Lift from the Waist:If you have to pick something up off the ground, whether heavy or light, bend from the knees. If you bend from the waist, you are asking for a back problem.

Don’t Lift Unless Your Feet are Level: If you try to pick something up when your feet are not level, you are also asking for a back problem. Check your feet and then bend your knees.

Don’t Strain to Pull or Push: The other day I was moving a treadmill. I was on a smooth walkway when suddenly the treadmill would not move any further. I did not try to force the treadmill. Rather I set it upright and checked the wheels. Sure enough, I had caught a branch from a shrub. Had I continued pulling, I would have uprooted the shrub and incurred my wife’s wrath!

Don’t Ignore Unusually Sounds If your car starts making a strange sound or an appliance is grinding when it should not, either check out the problem if you know what you are doing or find someone who does. You cannot make a problem go away by ignoring it.

Don’t Ignore Strange Sounds When You Walk: If you are clicking when your feet hit the ground, you may have a stone or piece of glass in the sole of your shoe. That can stone or piece of glass can damage floors. Take a moment to remove it.

Always Knock: Unless you can be one hundred percent certain that no one is behind a door, always knock before you open a door and even then, open the door slowly. You never know what might be behind the door.

What other common sense decisions do you try to bring to the basic actions of daily life? What do you hear, see or experience that alerts you to be cautious?