By Amanda Morrall (email)
1) Taking stock
Every week, my youngest comes up with a doozy of a question. For example: what was your best day ever, what was your worst day ever, if you had three wishes... and "did you know mum that anything can happen." It's followed by an intense grilling about why and possible scenarios to consider. When I get lost amid the busyness of the day, our little chats bring me back to earth and remind me to check in where I've come from and where I'm headed.
Squirrelers.com takes a similar Jiminy Cricket approach in this blog about financial accomplishments. He asks the reader to consider some of their crowning moments. This is a useful exercise in personal finance as it forces you to reflect on goals, achievements and a having a sense of purpose.
I've bought and sold houses over the years, worked and studied around the world and acquired this and that, but a stand out for me has to be a trip to Hawaii at age 16 with my big sister and some friends. I paid for the trip out of babysitting money and other part-time jobs I did through high school. I don't know why but it lingers in my mind as a financial accomplishment of mega proportions, even if the face of much more valuable experiences and acquisitions later on.
2) The secrets of a happy marriage
It is said that the little things and moments in life count the most. A new study looking at what defines the happy couple from the miserable upholds this theory. Sarah Hampson, reporting on the University of Virginia's National Marriage Project findings for the Globe and Mail, highlights the value of small acts of kindness.
Even though I'm happily divorced, I found the article rather interesting because it underscores the fact that consumption and big shell outs on cars, renovations, holidays and other stuff are superfluous to the real glue that holds couples together. Cups of coffee in bed and other acts of service are, it would appear, more lucrative for your well-being (and marriage) as they cultivate a spirit of gratitude, a key ingredient in happiness.
3) Kim Kardashian's tax deductible wedding regifting plan
Far be it for me to diss Kim Kardashian for her failed marriage, however you have to give this women credit for her deft handling of the financial fall-out. Apparently, she's decided to donate the money from her share of the wedding gifts. (See Forbes Money article here for the gratuitous details. )
Very charitable of Kim K, but she'll also reap the benefit of the tax deductions for doing so because she's cracking out her cheque book for the wedding regifting. She's crafty this woman. (Eds: I'm super impressed at how you've worked a Kardashian into an Interest.co.nz article. Boundless page impressions await).
4) Steps to getting paid more
I don't know why seven is the lucky number for success, but for whatever reason it seems to grab people's attention. This blog, from fastcompany.com, outlines seven steps to getting paid more and promoted faster.
I would agree with most of them save the bit about slaving away at your desk for extra hours. I don't think this is necessarily a measure of one's productivity particularly if those extra hours are spent surfing the net or getting caught up on Facebook friends. I do however believe a good attitude, and efficiency, counts for a lot.
5) Teenage landlord
This piece from gimundo.com detailing how a 14-year-old kid from Florida got in on the property market is as much a commentary on the sad state of economic affairs in the U.S. as it is a story of savings success.
This pint-size property investor made her riches selling on Craiglist possessions from hapless homeowners evicted from their houses and then went halves with her realtor mom on a home that sold for a fraction of the original price. You have to admire her entrepreneurial spunk, although one does wonder how much of it was on her own steam.
To read other Take Fives by Amanda Morrall click here. You can also follow Amanda on Twitter@amandamorrall
6 Comments
Best financial accomplishment was buying a section on $500 deposit & vendor finance, saving 80% of salary, when around 21 years old, saving into 12 month bank deposits each month when interest rates were about 12% or more, then freeholding the section after 18months or so. Then saving into Muldoons home ownership scheme, getting 33% tax back, then building shell house. Then spending 2 years painting etc, finishing it off ourselves, ... sweat equity.
Now, if only I could save like that again. Too many expenses now....
Mine would have been sailing for a year up the Queensland coast. 4-up (2 kids). The whole year (1999) cost us NZ$12,500, including airfares, film, buying and selling the boat, the works.
Spent the three years before it, cleaning the local school (turning my evenings into a year away, in essence). Best year we ever did as a family. Cheapest too.
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