Home
>
Success
>
10 Tips for Sensible Living

10 Tips for Sensible Living

Here are a few suggestions that I try to put into practice in my own life...

1) Live within your means - Sooner or later, nearly everybody has to learn to be content with what they've got. President Bush just signed a tough new set of laws which will restrict who can file for bankruptcy. You don't want to fall into that category. This means not only making more money than you spend, but also putting some of that hard-earned green away for emergencies. I suggest having enough liquid assets at your disposal to live for six months without any income. Start at the top...Do you have a $30,000/year job, and own a $300,000 house? Sell it and buy a smaller one. How about that car? Over $15,000? New flat screen plasma TV? Fishing Boat? Give yourself a break and ease your financial stress by cutting out anything that wrecks the budget. Do it now.

2) Establish priorities - Make yourself a list of things that are important. For each item you list as a priority, identify how it ranks in terms of reward, enjoyment, sacrifice, and difficulty. This will help you see what things in your life can be cut out, and where you need to spend more time, money, and energy. Set a goal for each item listed. It's tough to get to where you want to be if you don't know how to get there.

3) Don't overcommit - One of the toughest things for many of us is to learn how to say "no". We care too much about what other people think, and so we try to do everything. It's a terrible trap, and most of us fall into it at some time, and then have to pull ourselves out after some kind of meltdown. If I didn't say "no" several times a week, I would be much more tired, cranky and unfocused than I already am. Keep the things that are high-priority...cut the rest. Use your priority list (above) to help determine what's gotta go.

4) Pay your bills early - Don't just pay them on time. You want to give yourself a little fudge room in case you're on vacation when that cable bill shows up or the phone bill is lost in the mail. Pay the bills right when they come in and your credit score will thank you.

5) Organize - Take some time to clean out those drawers in the office. File, shred and throw away. Chances are, by looking through all the paperwork from the last six months, you'll remember, "Hey, I forgot to call my insurance agent" or some such thing. Note: you have to have time to do this, so see #3 above.

6) Work close to home - How many hours do many of us spend in our car, when we would rather be at home, with friends, or at the movies? If you are commuting an hour to work and back, that's too much! Either find a job that pays a little less and cut your commute, or relocate closer to work. Time is not money, but at the end of our lives, most people wish they had spent more time doing what was important (not driving)...

7) Buy a house - I can think of very few reasons not to own your own home right now. The current tax laws say that you can deduct up to $250,000 of gain on the sale of a home if it is your primary residence. It is hard to find a better investment anywhere.

8) Be patient when purchasing - Whether it's a house, car, TV or computer...don't buy the first one you see. Chances are, you'll regret the decision years later. Instead, do your own research to compare prices and quality of whatever it is you're buying. I looked for two years before I bought my first house.

9) Find a job with good benefits - Anyone who is in business for themselves will tell you that insurance is expensive. Try to find a job that not only pays your health and dental insurance, but also provides disability and life insurance, covers family members, provides profit-sharing and matching 401k plans. Making $50,000 at a job with no benefits isn't any better than making $35,000 with all the perks. Plus, the person at the lower wage has "more room to grow" (a favorite phrase of bosses everywhere).

10) Invest for the future - Pay your debt off first, then build yourself a little nest egg for emergencies. Once you've done that, start putting away for your retirement. The earlier you start, the more aggressive you can afford to be. Stay active in managing your retirement plan. Don't just shove $50/month into some fund you know nothing about. Diversify your retirement plan so you can't be stung if the Stock Market goes belly up.

About me: I am in my mid-thirties and have a Bachelor's Degree in Accounting, with a minor in Decision Science. I entered the accounting field ten years ago, when I started working for a software company, where I stayed seven years. I am now the Inventory Control Manager for a large winery. My experience in the financial markets includes both personal and business endeavors. I publish and maintain stockmarketplus.com - a Financial Weblog.

Batchtown Chicago prom limo .. Lockport Chicago limo O’Hare

In The News:

A virtual private network can help ensure your information remains security and your privacy remains intact. Kurt the CyberGuy explains.

Stay up to date on the latest AI technology advancements and learn about the challenges and opportunities AI presents now and for the future.

Artificial intelligence-based cameras are giving air defense operators unprecedented capabilities in monitoring and protecting airspace.

Apple's iOS 18.1 Inactivity Reboot automatically reboots your iPhone if it hasn't been used or unlocked for more than three days, providing better data protection.

An inventor designed rooftop solar panels for a Tesla that draws solar energy while the car is parked, adding travel mileage without plugging in.

There are currently no laws governing what artificial intelligence can and cannot do with the information it gathers; here are 10 things to avoid telling AI chatbots to keep yourself safe.

A credit union with over 240,000 members recently revealed it was targeted by cybercriminals, resulting in a data breach that was part of a two-month attack by hackers.

Scammers have become skilled at creating convincing fake websites that can easily fool unsuspecting users. The CyberGuy offers tips to protect yourself.

Stay up to date on the latest AI technology advancements and learn about the challenges and opportunities AI presents now and for the future.

CAPTCHAs, which are used by websites to confirm whether users are people or bots, are harmless, but hackers are using them to infect PCs with malware.

Hackers recently leaked personal information of about 500,000 Americans and stole patient medical records that included lab results and insurance details.

The holiday season sees a rise in mobile shopping scams. Tech expert Kurt “CyberGuy" Knutsson helps you learn how to stay safe.

Tech expert Kurt “CyberGuy" Knutsson says a VPN enhances online banking security by encrypting data and protecting privacy.

Beware of these six sneaky holiday scams. Tech expert Kurt “CyberGuy" Knutsson gives you tips to avoid falling victim.

Tech expert Kurt “CyberGuy" Knutsson reveals how to securely back up and factory reset your Android to protect your privacy and data.

Artificial intelligence is making life easier for cybercriminals, allowing them to create elaborate scams to trick people. Kurt the Cyberguy explains how to protect yourself.

Cut through all the digital clutter and delete multiple emails from your Android simultaneously. Kurt the CyberGuy explains how it's done.

Tips to prevent your holiday decorations from being stolen

Stay up to date on the latest AI technology advancements and learn about the challenges and opportunities AI presents now and for the future.

Kurt "CyberGuy" Knutsson lays out the immediate steps you should take if your phone has been hacked and your personal information becomes vulnerable.

Fraudsters are sending people bogus invoices through PayPal as part of a sneaky scam that is going around; here's how to protect yourself from being fooled.

A former Colgate-Palmolive employee was shocked to discover $750,000 had been drained from her 401(k) account. "CyberGuy" offers tips on how to prevent identity theft.

Electric vehicle maker Harbinger recently showed its electric delivery truck can handle icy roads with agility and stability in winter.

To make the busiest time of year more manageable, here are some tricks for tracking your packages, taking quality family photos and curating the perfect Christmas playlist.

Kurt "CyberGuy" Knutsson explains how to keep your online Amazon gift purchases a secret from loved ones or friends this holiday season.

10 Tips for Sensible Living

Success