For me Labor Day signals the end of summer and the beginning of autumn. Although here in coastal Florida, autumn is the last thing on anyone’s mind when the heat is sweltering hot.
Why don’t you spend this Labor Day weekend doing something different? Something that is not just for yourself, but for someone or something else.
Try some of these labors of love and see if they put life, and your financial freedom, into better perspective. As I always say, “It’s about life and how you live it!”
- Volunteer at an animal shelter. Take a break from cleaning the house.
- Volunteer at a soup kitchen. Take a break from watching TV (in my case, the U.S. Open).
- Prepare a meal for your family and sit around a table. Eat good food and have great conversation. Take a break from restaurants and processed foods.
- Donate your goods to a charity with integrity for giving back. Take a break from selling stuff on Craigslist or eBay.
- Donate a pint of blood. Take a break from always getting to finally giving. It’s the gift that keeps on giving.
- Adopt a shelter animal. Take a break from focusing on yourself and focus on an animal that will love you unconditionally.
- Say “I love you” to a family member and expect nothing in return. Take a break from quid pro quo. It’s really quite exhausting.
- Volunteer to teach a class or workshop in the area of your expertise. Take a break from always having to sell yourself and share your wealth of knowledge with others at no charge. Whew!! Sign me up!
- Volunteer to clean up a public park, waterway or beach. Take a break from your Saturday ball game or league.
- Volunteer to forgive yourself and others. Take a break from perfectionism, controlling behaviors and broken promises.
Happy Labor Day!
In the spirit of financial well-being,
When I first started to pay more attention to the expense side of my wealth accumulation strategy, I started taking a harder stand on ALL fees that I was being charged. You might be thinking, well, what control do I even have over these fees? Answer: you have total control. Businesses are focused on fee revenues to boost overall revenues during periods of low interest rates. Don’t let fees erode your savings. Continue reading
7 tips for car buying nirvana. It’s execution time!
I’ve been asked by so many readers, friends and fellow financial gurus to write about my car buying experiences. There are a gazillion excellent articles on this topic, but we are approaching the time of year when the 2015s are coming out and the 2014s are on sale. It’s execution time! How about a refresher? Continue reading
Stocks are up, bonds are in la la land and commodities have been pummeled. Should you be relying solely on your financial capital as the major driver of your overall portfolio? There are other types of capital that you may already possess. Capital that has weathered the financial crisis, maybe survived a layoff (or two), and could possibly mature into another long term holding of your portfolio. Continue reading
July Cashflow update: Completing your three month financial checklist
Every quarter I sit down and complete a personal financial statement (PFS). As of June 30, 2014, my PFS will show all my assets, all my liabilities and the resulting total net worth. I use an Excel spreadsheet, so each quarter has its own tab. I compare each quarter’s results with the last quarters’ results to see if my net worth increased. Yes, it is good if the number is larger quarter over quarter.
But what should you really glean from your PFS? Continue reading
What does the current housing market mean for your future finances?
Whether you’re a renter or a home owner, it still means just about everything when you’re building wealth.
Why? Because the price of home ownership is usually the single largest line item of a budget. If you don’t get your hands around procuring long term affordable housing, your financial future might be stalled. Continue reading
Financial freedom is not just for net savers. Everybody needs to start embracing financial autonomy. Becoming a net saver, by choosing to save your discretionary dollars versus spending, is a good way to start. Even if you fall into the category of “net spender”, I have news for you, you can become financially autonomous with a little behavior modification. Continue reading
Addressing your failures to expedite your successes.
Let’s take a moment to reflect upon the following:
“If you never try, you never fail, but if you never fail, you never get the chance to better yourself.” Unknown
“Successful people do what unsuccessful people are not willing to do.” Jim Rohn
As I contemplate the above passages, I am grateful that one of my readers pushed me to write about the proverbial “F” word – Failure. It’s clear to Paula Cashflow that you can’t blog about reinventing yourself, become better at asking for more money, or become better at public speaking, without the risk of failure. Continue reading
In Part 1, we reviewed the difference between getting a raise and getting a COLA and declining wages. In Part 2, we’ll review the personal impact this has on your income and actions you should take. (Part 2 of a 2 part series.)
After you have calculated the numbers from Part 1 and have a degree of comfort with your numbers, what is the next step to addressing declining real wages?
Looking at your numbers from Part 1, subtract your answer for number 1 from your answer for number 2. If the number is positive, then obviously your current salary is under the market rate. Are you comfortable with closing the gap? If you combine this difference with a history of COLAs, are you even more comfortable moving forward with closing the gap?
Here’s where you can measure whether you have mastered some of Paula Cashflow’s behavioral concepts covered in past blogs, such as becoming a persuasive speaker. Continue reading
Do you know the difference between getting a raise or COLA? A look at how declining real wages are impacting you. (Part 1 of a 2 part series.)
Getting to financial freedom has many components, as you’ve probably gleaned from past blogs. But one of the more important concepts that you must grasp is the ongoing battle against declining real wages.
What is meant by “declining real wages”? Even before the financial crisis, wages were in a negative holding pattern, meaning wages were rising slower than inflation. This means that your annual raise wasn’t really a “raise”. It was a “COLA”. Continue reading