I’m having a social networking crisis.
This whole thing has kind of crept up on me. It started out as a distant rumble and ultimately turned into a major seismic event. I ignored Twitter and Facebook and Plaxo (remember them?) as long as I could but, then, the overwhelming peer pressure to play the game made me get my head out of the sand.
I approached it very cautiously. I couldn’t understand why someone would feel compelled to tell everyone that he went to the grocery store or picked up the kids from a soccer game. And, what such trivia had to do with anything related to business. It was no longer possible to catch up with someone only once a year at an annual event (which satisfied me just fine). Now I was forced to be aware of what people I barely knew were doing all year long. Too much information.
But, who am I to buck the trend? I joined Facebook and LinkedIn and Twitter and Tumblr and immediately began to build my network. This is where my crisis began.
Each of them has a similar way of “friending” someone. They give you a choice between “colleague” and “friend” (except Facebook which uses more of a social model, hence everyone is considered a “friend”) and there’s the dilemma.
When I ask someone to join my network I have to decide how to classify him. I’m always afraid that I will insult someone by picking the wrong option. What if, for example, I want to invite a close business acquaintance? Do I pick colleague or friend? If I’ve known him for years I think of him as a friend but I’ve never seen him socially so I guess he’s a colleague. But, what will he think if I call him a colleague and he thinks of me as a friend? It’s happened to me on the receiving end, where someone called me a colleague and I was slightly taken aback because I thought we were closer than that.
I’ve actually had someone accept my invitation and change the classification from colleague to friend (which I considered a promotion). I dread the day when someone changes me from friend to colleague. The demotion would be devastating.
I’ve decided we need a better classification system. More friending options than we currently have. Here are some suggestions:
BUSINESS FRIEND (NON-BUSINESS) – Some of my best friends over the years have been through business. I value them as much as I do my social friends and they’d be insulted if I fail to acknowledge them when I make this important decision. But don’t take advantage of my decision and start trying to sell me something.
BUSINESS FRIEND (BUSINESS) – Okay if you try to sell me something occasionally. This classification can easily drop to COLLEAGUE I DO BUSINESS WITH if I get a sales call more than once a year.
BUSINESS FRIEND (WITH BENEFITS) – Someone I know through business who has tickets to things or a boat.
BUSINESS FRIEND (PROBATIONARY) – Someone who was previously a colleague but is moving up to business friend because he sent me a referral. If I get another he’ll shed the probationary label. Also used if he’s buying a boat or condo at the lake.
COLLEAGUE – Someone I met once at Business After Hours. I don’t remember what he looks like but I have his business card.
COLLEAGUE EVERYONE WANTS – Someone who I don’t know very well but who looks impressive to others.
COLLEAGUE WHO CALLS ME WHEN HE NEEDS SOMETHING – Someone who’s my best buddy when he wants me to raise bail money to get out of some silly jail fund raiser.
COLLEAGUE I WANT TO LINK TO JUST TO PACK MY NETWORK – Someone I invite to join me because it’s embarrassing to have too few people on my contact list.
COLLEAGUE I DON’T CARE FOR – This is a great way to know where people you don’t like are going to be so you can avoid them.
I think that our culture would benefit from much better understanding between social networking buddies. It creates honesty where today we have deceit.
Ashton Kutcher eat your heart out.
rjs
Monday, November 15, 2010
Thursday, November 11, 2010
It's So Simple
Most people will look at a credit card and see only the ease and convenience with which they can painlessly get the things they want. It’s so simple – right? Every commercial on TV keeps telling you about how much “you deserve it” and with a simple swipe of the credit card, you can be suddenly whisked away by a gaggle of men in tuxedos into an awaiting limousine to be treated like “you deserve”.
When asked to list their debts, most people fail to list their credit cards. They list their mortgage, car notes and other installment loans but leave credit cards off of the list. Too many households in America carry far too much credit card debt and know very little about it.
A great many people have no idea what interest rate is being charged by their credit card companies or how the interest is calculated. In a recent study, 75% of Americans indicated that they carry a “substantial” balance on their credit cards while only 41% indicated that they have a savings account.
Paying interest on a credit card means that everything that you purchase with that card costs you more than it would have cost if you had simply paid cash or written a check for it. The best rule is to pay as you go but if you use your credit cards, pay off the balances before the interest charges are added!
When asked to list their debts, most people fail to list their credit cards. They list their mortgage, car notes and other installment loans but leave credit cards off of the list. Too many households in America carry far too much credit card debt and know very little about it.
A great many people have no idea what interest rate is being charged by their credit card companies or how the interest is calculated. In a recent study, 75% of Americans indicated that they carry a “substantial” balance on their credit cards while only 41% indicated that they have a savings account.
Paying interest on a credit card means that everything that you purchase with that card costs you more than it would have cost if you had simply paid cash or written a check for it. The best rule is to pay as you go but if you use your credit cards, pay off the balances before the interest charges are added!
Tuesday, November 2, 2010
Three Stupid Reasons for Not Saving Money
"I deserve to buy “insert item here” because I work hard and I deserve it."
We hear this one all of the time. It comes from an immature attitude and one that will lead you into a place where you have a whole lot of stuff that you don’t need and a lifestyle that will eventually have you living in your son’s basement! Believe me, I am not advocating that you never buy something that you “want” but make it part of your plan. Saving a little bit of money from each paycheck will start adding up quickly. Take some of your windfall cash (tax returns and gift money) and stash away half of it and blow the rest.
"I’m young. I can start saving money later."
Another immature statement! Start when you are young and enjoy the mathematical explosion of compound interest. I have review chart after chart for saving money and every single one of them show that starting a lifestyle of saving money early in life will bring you financial freedom. Save $2,000 a year beginning at age 20 and do it for 6 years – never save another dime – and you will have more than $1,000,000 by the time you are 65! The problem is that “life” happens and we tend to dip into that money for “stuff” and it never makes it until we retire. Start young and begin a lifestyle of savings.
"I don’t make enough money to save anything."
If you have a job and earn a paycheck, you can start saving some money. Start small and put back $5 from each paycheck. You won’t even miss $5! Suddenly you will look at your account and realize that you have a few hundred dollars. Work up to a little more and start putting back 15% of each check. Slowly and gradually, you will amass a small fortune.
How nice would it be to not have to worry about money? YOU are your greatest obstacle. Step out of the way and change the way you are doing things now and learn to save a few bucks! You will be glad that you did.
mah
We hear this one all of the time. It comes from an immature attitude and one that will lead you into a place where you have a whole lot of stuff that you don’t need and a lifestyle that will eventually have you living in your son’s basement! Believe me, I am not advocating that you never buy something that you “want” but make it part of your plan. Saving a little bit of money from each paycheck will start adding up quickly. Take some of your windfall cash (tax returns and gift money) and stash away half of it and blow the rest.
"I’m young. I can start saving money later."
Another immature statement! Start when you are young and enjoy the mathematical explosion of compound interest. I have review chart after chart for saving money and every single one of them show that starting a lifestyle of saving money early in life will bring you financial freedom. Save $2,000 a year beginning at age 20 and do it for 6 years – never save another dime – and you will have more than $1,000,000 by the time you are 65! The problem is that “life” happens and we tend to dip into that money for “stuff” and it never makes it until we retire. Start young and begin a lifestyle of savings.
"I don’t make enough money to save anything."
If you have a job and earn a paycheck, you can start saving some money. Start small and put back $5 from each paycheck. You won’t even miss $5! Suddenly you will look at your account and realize that you have a few hundred dollars. Work up to a little more and start putting back 15% of each check. Slowly and gradually, you will amass a small fortune.
How nice would it be to not have to worry about money? YOU are your greatest obstacle. Step out of the way and change the way you are doing things now and learn to save a few bucks! You will be glad that you did.
mah
Monday, October 25, 2010
Eating Away at Your Savings
I am constantly amazed at the number of people that we talk to that say, “We make good money, but I have no idea where it all goes.”
Before ever looking at their checkbook or at their bank statement, I can almost always say, “You eat at restaurants too much” and be correct.
Managing a budget is not an easy process – it is, quite frankly, a difficult task. Little expenses get in your way and keep you from meeting your financial goals. Eating in restaurants can be a “deal breaker” and one that nibbles (sorry for the pun) away at your budget, your goals and your plans.
Let’s say that over the course of a quarter, you eat a meal at a restaurant 3 times a week and spend $10 per meal – that is more than $350 each quarter and more than $1,400 per year! It is surprising to see how quickly it all adds up. By eating at restaurants, you could easily destroy your savings goal and obliterate your financial security in a few short months.
What options do you have? I am not advocating that you eat ramen noodles at every meal. And I am not advocating that you stop spending money on food or never enjoy time at your favorite restaurant. Within your budget, you should have a SPECIFIC dollar amount that you are willing to spend monthly on food. This category should include money spent at the grocery store to stock up your own kitchen and on meals that you eat away from home. Set a goal and then stick to it. Don’t go over that dollar amount and live within your plan. If this amount isn’t enough – it is YOUR plan! Change it and make it work.
Another way to beat this budget buster is to plan ahead. If you know that you are working late hours, plan ahead and be prepared. Avoid a quick impulsive trip through McDonald's and make sure that you have “sandwich fixins” in the fridge. Pack a lunch a few days a week and stock your cabinets with quick and easy meal options. A little bit of planning will help you to avoid spending money on this expensive non-essential.
Watching where you are spending your food budget is one of the quickest and easiest ways to save a few bucks within your budget. Make a few changes, and you will add several hundred dollars to your budget each month and help you to achieve your financial goals much quicker.
Don’t let food eat away at your financial successes!
Before ever looking at their checkbook or at their bank statement, I can almost always say, “You eat at restaurants too much” and be correct.
Managing a budget is not an easy process – it is, quite frankly, a difficult task. Little expenses get in your way and keep you from meeting your financial goals. Eating in restaurants can be a “deal breaker” and one that nibbles (sorry for the pun) away at your budget, your goals and your plans.
Let’s say that over the course of a quarter, you eat a meal at a restaurant 3 times a week and spend $10 per meal – that is more than $350 each quarter and more than $1,400 per year! It is surprising to see how quickly it all adds up. By eating at restaurants, you could easily destroy your savings goal and obliterate your financial security in a few short months.
What options do you have? I am not advocating that you eat ramen noodles at every meal. And I am not advocating that you stop spending money on food or never enjoy time at your favorite restaurant. Within your budget, you should have a SPECIFIC dollar amount that you are willing to spend monthly on food. This category should include money spent at the grocery store to stock up your own kitchen and on meals that you eat away from home. Set a goal and then stick to it. Don’t go over that dollar amount and live within your plan. If this amount isn’t enough – it is YOUR plan! Change it and make it work.
Another way to beat this budget buster is to plan ahead. If you know that you are working late hours, plan ahead and be prepared. Avoid a quick impulsive trip through McDonald's and make sure that you have “sandwich fixins” in the fridge. Pack a lunch a few days a week and stock your cabinets with quick and easy meal options. A little bit of planning will help you to avoid spending money on this expensive non-essential.
Watching where you are spending your food budget is one of the quickest and easiest ways to save a few bucks within your budget. Make a few changes, and you will add several hundred dollars to your budget each month and help you to achieve your financial goals much quicker.
Don’t let food eat away at your financial successes!
Monday, September 13, 2010
Four Steps to Financial Success
Over the course of the last several years, my wife and I have spent time with more than 120 families as they have walked through the steps of achieving their own Financial Peace. Here are four steps that I believe will help any family move farther down the road!
1. Get a Plan and Write It Down. A dream is just a dream until you write it down and then it becomes a goal! Every family that we meet with WANTS to improve their financial situation but seldom do they take the initiative to put a plan together, write it down and work together to accomplish the goals! We follow Dave Ramsey’s proven principles of giving every dollar a name by spending it first on paper and on purpose before the month even begins. Write the plan down – your memory isn’t that good!
2. Start Out Slowly. About once every six months, I get motivated to get back to the gym. I write down my workout, head to the gym and always work out too hard too fast! I don’t have enough patience to do it systematically – I want results immediately and see a difference after my first visit. Working your budget is the same process. You must work slowly and methodically in order to win. You didn’t get into this shape overnight, and you won’t work your way out of it quickly. If you try to take shortcuts, you are setting yourself up for disappointment. Get a plan, and stick to it.
3. Go Crazy and Get Intense. I am sure that you have heard the old saying: “If you always do what you always did, you will always get what you always got.” In order to be successful, you must change your behaviors and get a little crazy about it. What stuff can you cut out of your budget that you don’t really need? Can you live without a telephone landline for a while? Do you really need all of those cable channels? Pack a lunch. Eat dinner at home. Do it for a while, and see what a difference it makes. My wife and I have “Crazy Months” where we do anything and everything we can do to save money. What can you do with the money you saved? Pay down a bill? Save a little extra for Christmas gifts? Go crazy and see what can happen if you work together!
4. Get Support. Achieving personal financial success is about 20% head knowledge and about 80% behavioral change. People “know” what they need to do but seldom take the steps necessary to implement the new behaviors. You may need to grab some support to help you make the behavioral changes necessary to get you where you want to go. That is where The Sacks Group can step in and offer some assistance. We have programs specifically designed to help you stay on track. Worried that it will cost too much? Our first consultation is ALWAYS free, and our services are month-to-month – NO lengthy contracts. We want you to be successful, and we want you to win without feeling the constraints of a long-term agreement.
1. Get a Plan and Write It Down. A dream is just a dream until you write it down and then it becomes a goal! Every family that we meet with WANTS to improve their financial situation but seldom do they take the initiative to put a plan together, write it down and work together to accomplish the goals! We follow Dave Ramsey’s proven principles of giving every dollar a name by spending it first on paper and on purpose before the month even begins. Write the plan down – your memory isn’t that good!
2. Start Out Slowly. About once every six months, I get motivated to get back to the gym. I write down my workout, head to the gym and always work out too hard too fast! I don’t have enough patience to do it systematically – I want results immediately and see a difference after my first visit. Working your budget is the same process. You must work slowly and methodically in order to win. You didn’t get into this shape overnight, and you won’t work your way out of it quickly. If you try to take shortcuts, you are setting yourself up for disappointment. Get a plan, and stick to it.
3. Go Crazy and Get Intense. I am sure that you have heard the old saying: “If you always do what you always did, you will always get what you always got.” In order to be successful, you must change your behaviors and get a little crazy about it. What stuff can you cut out of your budget that you don’t really need? Can you live without a telephone landline for a while? Do you really need all of those cable channels? Pack a lunch. Eat dinner at home. Do it for a while, and see what a difference it makes. My wife and I have “Crazy Months” where we do anything and everything we can do to save money. What can you do with the money you saved? Pay down a bill? Save a little extra for Christmas gifts? Go crazy and see what can happen if you work together!
4. Get Support. Achieving personal financial success is about 20% head knowledge and about 80% behavioral change. People “know” what they need to do but seldom take the steps necessary to implement the new behaviors. You may need to grab some support to help you make the behavioral changes necessary to get you where you want to go. That is where The Sacks Group can step in and offer some assistance. We have programs specifically designed to help you stay on track. Worried that it will cost too much? Our first consultation is ALWAYS free, and our services are month-to-month – NO lengthy contracts. We want you to be successful, and we want you to win without feeling the constraints of a long-term agreement.
Wednesday, September 8, 2010
Losing Pounds of Debt
A recent report issued by the U.S. Consumer Study of Debt found that many Americans spend a large part of their day worrying about debt. Over 21 percent of consumers worry about how they will pay of their debt between 4 to 10 hours a day. The majority of consumers – 54 percent – worry about it between 1 and 3 hours a day.
High debt can create long hours of anxiety for most people, but there is a way to reduce and even eliminate those hours of angst over money troubles. Rather than throwing in the towel, you can choose to start from where you are and move forward. It’s kind of like losing weight. The past is the past. You can’t go back and change your bad decisions; you can only go forward to shed those unwanted pounds of debt.
While you are reducing your debt (calories), don’t let the rough spots drag you down so far that you can’t stick to the plan. If you hit a pothole as you are driving down the street, you don’t pull to the side of the road and quit driving! You have made it through some rough spots and now is the time to keep on going – forward!
Even if you have made a lot of past mistakes (and who hasn’t?), there are plenty of opportunities to make things right! Start out by making a conscious decision to change your behaviors. You’ve heard the old saying, “If you always do what you always did, you will always get what you always got.” The saying holds true for how you handle your finances. You won’t improve your situation until you try something different.
I bet you are saying, “This all sounds so good, but I have no idea where to start.” The first step toward recovery is admitting that you want things to change, and with that admission, you need to find some help. That is where we come in!
The Sacks Group has been in business since 1985, helping consumers and small-business owners find new solutions to life’s problems and struggles. Contact us today for a FREE one-hour consultation. We understand and can provide you with some direction.
www.BudgetingYourFinances.net
High debt can create long hours of anxiety for most people, but there is a way to reduce and even eliminate those hours of angst over money troubles. Rather than throwing in the towel, you can choose to start from where you are and move forward. It’s kind of like losing weight. The past is the past. You can’t go back and change your bad decisions; you can only go forward to shed those unwanted pounds of debt.
While you are reducing your debt (calories), don’t let the rough spots drag you down so far that you can’t stick to the plan. If you hit a pothole as you are driving down the street, you don’t pull to the side of the road and quit driving! You have made it through some rough spots and now is the time to keep on going – forward!
Even if you have made a lot of past mistakes (and who hasn’t?), there are plenty of opportunities to make things right! Start out by making a conscious decision to change your behaviors. You’ve heard the old saying, “If you always do what you always did, you will always get what you always got.” The saying holds true for how you handle your finances. You won’t improve your situation until you try something different.
I bet you are saying, “This all sounds so good, but I have no idea where to start.” The first step toward recovery is admitting that you want things to change, and with that admission, you need to find some help. That is where we come in!
The Sacks Group has been in business since 1985, helping consumers and small-business owners find new solutions to life’s problems and struggles. Contact us today for a FREE one-hour consultation. We understand and can provide you with some direction.
www.BudgetingYourFinances.net
Monday, August 30, 2010
The Dangerous Allure of a Clean Slate
A new report in the Wall Street Journal finds that as the economic recession squeezed consumers, credit card companies, who usually do the squeezing, are getting squeezed a bit themselves. As a result, credit card companies are more willing now to settle consumer’s credit debt for a percentage of the actual debt, spurring many consumers to hire debt settlement companies to negotiate a lower comprehensive payment with their credit card firms.
In fact, the U.S. Consumer Study on Debt reveals that 5.13 million consumers have enrolled in such services, and The Association of Settlement Companies reported their industry helped settle more than $1 billion in consumer debt last year.
As I read these statistics and information, I wondered to myself how many of these families have REALLY made a decision to change the way that they handle their finances. The allure of settling debt for a lower amount or filing bankruptcy to erase past debts is enticing and can provide a tremendous sense of relief –- a clean slate, a do-over, a way to start fresh. All of these things sound great, but this will only be accomplished if you make a commitment to handle things differently the next time around.
As you contemplate the possibility of bankruptcy or debt settlement, I urge you to consider an alternative. Why? Because, the allure of a clean slate can be dangerous! If you are not committed to changing your habits of creating overwhelming debt, you will fall right back into the same trap again. I promise you that it will take some extra effort but, well worth it as you dig yourself out of the mess that you have created.
Look at the possibility of creating a real working lifestyle budget and sticking to the plan of attack. The Compass Project offers a program that will hold your family accountable to a budget -– one that YOU create, not us! You make the budget, and we help you stick to it.
Sound like a good alternative? Contact us today for a Free One Hour Consultation.
www.BudgetingYourFinances.net
In fact, the U.S. Consumer Study on Debt reveals that 5.13 million consumers have enrolled in such services, and The Association of Settlement Companies reported their industry helped settle more than $1 billion in consumer debt last year.
As I read these statistics and information, I wondered to myself how many of these families have REALLY made a decision to change the way that they handle their finances. The allure of settling debt for a lower amount or filing bankruptcy to erase past debts is enticing and can provide a tremendous sense of relief –- a clean slate, a do-over, a way to start fresh. All of these things sound great, but this will only be accomplished if you make a commitment to handle things differently the next time around.
As you contemplate the possibility of bankruptcy or debt settlement, I urge you to consider an alternative. Why? Because, the allure of a clean slate can be dangerous! If you are not committed to changing your habits of creating overwhelming debt, you will fall right back into the same trap again. I promise you that it will take some extra effort but, well worth it as you dig yourself out of the mess that you have created.
Look at the possibility of creating a real working lifestyle budget and sticking to the plan of attack. The Compass Project offers a program that will hold your family accountable to a budget -– one that YOU create, not us! You make the budget, and we help you stick to it.
Sound like a good alternative? Contact us today for a Free One Hour Consultation.
www.BudgetingYourFinances.net
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