In this world that we live in today that is dominated by technology and the concept of “keeping up with the Joneses” we are constantly bombarded with the apparent need for upgrades and accessories.  Advertisers everywhere are always telling us that it’s time for a new computer, a bigger flat screen TV, and the need to “accessorize” our personal appearance.  For those of us trying to live frugally or trying to get out of debt, this can be a very slippery slope.

The first thing you need to understand (when trying to live frugally or get out of debt) is that you march to the beat of your own drummer.  What am trying to say is that you and you alone should determine when you  upgrade one of your technology products, or which personal accessories you really need in life.

What I found during my journey out of debt is that these are two areas that can really make or break you financially.  If you follow the lead of the world of advertising, you would constantly be upgrading your cell phone, your personal computer or any of the other personal accessories that you choose to have.

One thing that sped up the pace of my journey out of debt is eliminating (or at least postponing) these upgrades and simply eliminating a lot of the personal accessories that I chose to have.

A lot of this is a matter of personal choice, but if you can eliminate a lot of these things, you’ll find that you’ll have that much more money to put towards the goal that should be more important to you: getting out of debt.

In the area of personal accessories, let me tell you what my current choices (or non-choices) are:

• I do not wear a watch
• I do not wear any jewelry whatsoever
• My clothes wardrobe is “bare-bones” minimum  (I rarely buy new clothes)

The only thing that I can tell you here is that if you choose to use (or wear) any of the above accessories, I would stick with what you have until you are where you want to be financially.  Unless of course it is a gift to yourself of some sort for reaching one of your financial goals.

Technologically speaking, I have these facts to offer you:

• The laptop we have was purchased two years ago.
• The PC we have was purchased three years ago.
• The flat screen TV we have purchased four years ago
• We do not have any of the following: IPods, blue tooths, Blackberries, etc.

When deciding to buy one of these items for the first time, the biggest question you need to answer for your self is this:

Do you really need this item?

When considering an upgrade, these are my thoughts.  Whenever we buy a technology product for the first time, we usually go with about the latest, most advanced model that we can find at the time, at the very best price we can find, and we stick with it till it is no longer useful for us. Do not succumb to all the advertising out there that will tell you that you need a new laptop or flat screen every year or so.  It simply isn’t true.

One of the biggest steps out of debt for me personally was to eliminate all unnecessary spending.  Well, considering the hole that I was in, it didn’t take long to figure out that all accessories and upgrades, to me, were unnecessary.  This didn’t mean that I had to give them up altogether, just until I was out of debt.

A hard review of your purchasing choices, I would imagine, would bear out close to the same conclusion.

As always, you feedback is appreciated below.

 I straightened out my finances and have been on the path of frugal living for about a year now, which is great.  However, as I begin to really get into the topic of “frugal living” it did occur to me that there is the very real possibility of going overboard with this.  As a matter of fact, I know a few people that I would consider to be a “slave to saving”.

First of all, I guess I should give you my definition of both.  Frugal living I would define as obviously, living within your budget, eliminating all unnecessary spending from your life, and getting the best deals that you can on the items that you do buy.  Of course, this is a very relative and subjective definition, but it is what it is.  A “slave to saving” I would basically define as someone who lets their desire to save affect the quality of life that they live.  Again, a subjective definition, but I think it will work for the purposes of this discussion.

I do not think I have ventured into the area of being a “slave to saving” but I have gotten close.  I think these are dangerous grounds.  What I try to remind myself of is that I live my life frugally so I can increase the quality of it.  When I find myself negatively affecting the quality of life that I live by my frugal living measures then it is time to stop and take a good look at what’s going on.

Let’s jump into some specifics:

–Spending  two hours a week clipping coupons just to save $5 on your weekly grocery bill to me is too much… it simply not worth it.  You could find better uses for these two hours.

–People whose conversations are simply inundated with “I got this for such and such a price” and “Oh yeah, well I only paid this much for this the other day” to me are affecting the quality of their lives.  It’s a minor point, but c’mon, can’t we find something better to talk about?

–Those who buy items not because of any current specific need, but only for the amazing savings they can get on them are really off the chain!  If I wanted to, I could get the best deal on just about everything and my house would be full of stuff that I might or might not need or use in the next ten years.  If you don’t need it, then buying it is a waste of money, no matter how little you spent on it.

–Being focused 100% of the time on price price pirce is not the way to go either.  For example, vacations.  If I can’t let go and eat at a restaurant I know is too expensive when I know I could go down the street and save a buck or two, then what’s the point on going on vacation?

I guess it comes down to knowing “when to say when”.  Keep in mind your goals.  Is your goal is to be able to brag to your friends how much you save on things?  Is it to save every single solitary penny that you can, no matter how much time it takes out of your life?

Or is it more realistically, to be able to live your life at the highest quality level that you can on the current income that you have?

To me, I’ll take the last one any day of the week.

 So, are your living frugally or are you a slave to saving?  Let my readers know below…

I have spoken a lot in the past about how much legwork it takes to truly “fix” your finances.  There is a lot of organization involved; there is a lot of analysis (of your finances) involved.  There is a good bit of discipline, but not as much actual sacrifice as you think if done properly.

My biggest point is that if you change your mindset towards the way money comes in and goes out of your life, then you can do a lot of “fixing and forgetting” with your finances.  By that I mean you can analyze a particular area, eliminate the unnecessary spending, and then simply move on.

However, one thing I also wanted to touch on is that you do have to take a step back and review your financial “picture” every so often.  Personally, I try to do it every six months or so.

The reason for this can be described in one word: change.  There is constant change in our lives.  Change in our spending habits (what we spend money on), change in our interests (regarding hobbies and projects) and also, change in the amount of free time that we have in our daily lives-which does affect what we spend our money on.

It is for this reason that about twice a year I put myself through a “financial physical”.  This involves taking a step back and reviewing how you spend your money on a monthly basis.  I think if I give you a few concrete examples of what I am talking about, then you’ll get a pretty good understanding of the whole process.

This physical mostly involves looking at your bills.  I think that things like grocery shopping and so forth are simply adjusted on as “as needed” basis.  If your household decides to stop eating red meat, I think you’d have sense enough to stop buying it form the grocery store. If you make a commitment to more fresh vegetables, then obviously, you’re going to buy more of them too.  But you could take a look at things like gym memberships (and any other memberships).  If you’ve stopped going to the gym, why are you still paying for it?

But what about bills?  Let’s take a quick peek.

Cable/Satellite TV:  If you currently have the 300 channel package and two movie channels, ask yourself-do you really need 300 channels?  Also, do you really watch those movie channels?  You might be able to do a little slicing and dicing here.

Cell phones-take a look at your minutes usage.  Can you get on a lower minutes plan?  Better yet, can you possibly switch cell phone providers to save some money?  There are always better deals and programs out there, and it is good to keep up with them.  Personally, I just call my provider every six months or so and come right out and ask them.  It s not like if they have a cheaper plan that you qualify for, that they will call you and tell you about it.

Internet-same premise.  There are always new and cheaper companies and programs that can give you the same coverage for a cheaper rate.  It’s not a bad idea to investigate this every so often.

Gas-the gas industry in our state was de-regulated several years back, which has created tremendous competition. I have saved myself quite few dollars by switching companies, and they usually offer some pretty good incentives for doing so.

In closing, with regard to all of these things it is imperative that you never ever sign a contract with your cell phone provider, or cable or internet for that matter.  You need to keep your freedom in this area.

I go through this process only about twice a year.  Most of it is a mental checklist that I complete to see if there is anything I can eliminate.  There may be some research and phone calls to be made if I decide I am going to switch, but going through this from time to time can keep you as financially sharp and fit as you can possibly be.

Your comments are welcome below.

One common theme that I have tried to maintain with this blog is that you must realize is that you can’t be an expert at everything. In other words, to save the most money on computer repair, auto repair, home repairs, groceries, insurance and your mortgage, you’d need to be an expert in each and every field I just listed. Well, that’s just not possible.

So, the next best thing is to get people into your life that are. Basically, you are looking for an expert in all the areas that you’re not. That’s not to say that a little research and self-education wouldn’t hurt for all areas financial, but you should always consider the help of an expert to make your final decisions.

Well, that all sounds well and good, but what are we supposed to do, stand on the street corner all day with a sign that says “Looking for a (insert “computer” or “insurance” or “mortgage”) expert? No, of course not. Therefore, I wanted to write a sort of follow up as to how you can get these people into your circle of contacts.

Before I go any further this post was motivated by the fact that a commenter of mine recently wrote somewhere that all people in the mortgage industry were “rabid savages” and couldn’t be trusted. It was just something I had to send along to the person who is my mortgage expert. He really got a kick out of it.

Anyways, here goes-a short list of how to find and get these very important people into your life.

First, be sociable. By nature, I am not very sociable. But, after realizing the benefits of being sociable, I have forced myself out of that comfort zone and have become as sociable as I can. By simply talking to people more, you can find out what their areas of expertise (if any) are. You can also begin to get a read on them to whether they know what they’re talking about (some don’t) and whether or not they can be trusted (some can’t).

Second, pay attention. The key here is that you’re trying to establish whether they can be trusted or not. If you are going to be asking them for advice on your finances, or any other area of your life where you’re trying to save money, truth has to be high on the list. If you can’t trust their opinion, there is no sense listening to it. By paying attention, I mean you can tell a lot about a person by their actions. This is a very subjective thing, and maybe it is an acquired talent of mine, but I am pretty good at spotting trustworthiness. One litmus test is, do they look you in the eye when they talk to you? A second even more subjective one is, do you get a sense of a used car salesman when you talk to them? If they’re out to “sell” you too hard on their talent or their expertise, chances are it’s not all that it cracked up to be. The people in my circle of contacts could have cared less about being of assistance to me.

Third, verify. If you want to stick with one insurance agent for example (someone you’d actually go to for advice), ask them for references! And, if and when you get them, call them! Find out how long this person has been doing what they are doing, find out if there are other customers of theirs you can contact, and so on. Although this sounds like a procedure you’d go through only if you’re receiving paid services from someone, I see no reason why you can’t do it for these purposes as well. I’d be nonchalant about it, but there is a way to get all of this information if you really want it.

In short, I have an insurance person in my life who I’ve known for over eleven years. I have a mortgage person in my life who I’ve known for almost fifteen. I have a “computer” guy in my life that I’ve known for five. These people have saved me literally thousands of dollars over the years with their advice and expertise. Certainly they’d be worth finding and getting into your life as well.

Do you have any of these people in your life yet? If so, how did you find them? Please share below.

Everywhere I look I see all the ways there are under the sun to fix your finances. You have to do this, you have to do that. You have to track this, you have to stay on schedule for that.

As someone who dug themselves out of a financial hole as deep as they come, I thought it might be helpful to tell you about some of the things that I NEVER did to fix my finances.

Here goes:

Put Myself on a Budget-Believe it or not, I never did this. I know that this might be needed for some, but honestly I never needed it. I knew that the reason that I got in so deep financially was because of reckless spending and not being organized (there is a difference between being organized and being on a budget). Also, I started to actually care about my finances. If you focus completely on eliminating unnecessary spending (which is probably pretty significant if you’re in debt) then putting yourself on a budget becomes irrelevant.

Tracking My Expenses-This kind of build upon the last point. If you concentrate on eliminating spending rather than tracking what you do spend, then you can take the “tracking” exercise out of the equation. I knew that I spent too much on “convenience” items (Cokes, sweets, etc), so why should I write it down? Rather, I just worked on ways to eliminate them entirely.

Setting Goals-Yes, that’s right, I never ever set a goal for myself. Except for the obvious one of getting out of debt. At my worst point, I was probably about $30K in debt, so I didn’t see the point in saying “OK, in six months, I only want to be $25K in debt” and so on and so forth. The numbers were just too huge.

Rather, I stuck my proverbial head down, dug in, and plowed forward until it was over with. And until it was over with, a big part of me didn’t want to know where I was at financially.

Now, I know a lot of this flies directly in the face of most solid financial advice out there, I am just telling you what worked for me. If you need any of the tools mentioned above, by all means use them. I just knew that for me, most of this stuff did not focus on the end result, which was getting out of debt for good.

Agree? Disagree? Please give me your feedback below

The following is my first post of 2010 and my first leap into the world of book reviews. I enjoy reading books on any topic related to personal finance, so if you are looking for a review of your book, just drop me a line and we can set something up.

 I recently  had the pleasure of reading a book called The Naked Portfolio Manager by Robert Fischer.  Robert is a senior portfolio manager and advisor for affluent individuals at a national brokerage firm  and a colleague of mine.

The Naked Portfolio Manager is a good smooth read for just about anyone interested in personal finance.  And this is regardless of your investment experience, knowledge, and or abilities.

I would have to consider myself basically a novice in the world of investing, although I am trying to improve this area of my life.  Mostly, I do go on the advice of others; however, these “others” are people that are highly trusted in my life.

The premise of The Naked Portfolio Manager is that we need to remove any and all kind of emotion from our investment strategy, and to basically steer clear of any people who haven’t yet done it. Robert states in no uncertain terms that these emotions can cloud our judgment (or the judgment of people making our investment decisions for us) which could lead to potentially bad financial decisions, or decisions that are less than optimal.

He goes on to say that our investment strategy needs to be based on SPMs (Statistical Prediction Methods), which are basically a set of rules which will govern our investment portfolio.  In short, the book could be used as a guide for someone who wanted to get started in the world of investing.  It provides solid, easy to understand tips and pointers that in my opinion, would be helpful to any investor on just about any level.

If you think about it, emotion clouds our judgment in virtually everything we do.  Think of what better decisions we could make with respect to relationships, with our health, with our careers, anything, if we take emotion out of the equation.   Let’s see….”He/she really doesn’t treat me that well, but I’ve been with him/her forever.”  “Sure, there are better jobs out there, but my co-workers are nice and the company really needs me.”  If you think hard and long about it, this strategy could be used in just about any area of your life.

The Naked Portfolio Manager to me is almost a must read for anyone looking to start and/or improve an investment portfolio.  I was previously invested in money markets for what I thought were a list of very good reasons.   After reading The Naked Portfolio Manager, I realized that there is a different way of thinking out that statistically beats the results of these money market funds on a long term basis.

I would give this book a shot.  It is currently available at Amazon, and Robert also publishes a blog under the same name of the book. 

So, what do you think about the idea of taking emotion out of our investment strategies?  Please comment below.

As have done many, I thought I would take a moment to share with you where my financial “head” is right now.  This is usually the time of year when most people are either taking a look back at the year they had in 2009, or taking a peek ahead at what’s in store for them in 2010 financially.   I thought I would do both.

Before I do, I wanted to let you in on a little secret.  I know that I have been a big advocate of financial “goal-setting” and I firmly believe in its importance.  My secret is this:  I don’t set goals.  What?  Are you screaming “imposter” right now?  Calling me a fraud?

Well, hold on just a second.  What I mean to say is that I don’t set goals in the traditional sense.  As I have read the retrospectives and goals of other people out there, it occurred to me I don’t set goals.  Again, just not in the traditional sense.  For example, my journey out of debt.  I basically had no benchmarks, no “six months to do this”; no “by the end of the year” do that, nothing. 

My approach, as with most things, is similar to a bull in a china shop.  I was horrifically in debt, and I knew I had to do something or I’d be suffering for the rest of my life.  So, I stuck my head down (figuratively, of course) and simply bulldozed my way through my entire financial mess, until it was clean and clear and I was ready to move on. 

Then as I have also written before, I was kind of in a funk for about a year or so, because I didn’t know what to do with my newfound financial freedom.   Meaning, I didn’t know how to get my so-called “extra” income to start working for me. Here, I probably could have used a clear set of goals, I just didn’t have them.  Once I figured it out though, I simply put into place the steps that I wanted in order to start building for my future.

An example.  If you think that you will be able to reduce your power bill by 15% in the coming year, then why make a goal out of it?  Why write down “I want to reduce my power bill by 15% in 2010.”  To me, that means you can goof around the whole year before finally doing something about it.  How about this.  If you’ve identified a way or ways to make this happen-put them in place.  Get going.  Do it right now.  This has always been my approach to just about everything.

I know that there are some things that take time, and for these, a set of goals would be good.  But as I read the retrospectives of others out there and also their goals for the coming year, it occurred to me that a lot of the things that I was reading could be put into place on a more immediate type basis.

Having said that, here is my brief look back at 2009, and a concise look ahead for 2010.

2009

This was definitely a year of simply “holding on” for me.  I did not lose my job; however, I did take about a 28% pay cut.  Basically, my bonus compensation was eliminated for the year, and it was/is a big chunk of my monthly income.  It wasn’t eliminated; it was simply that the financial results of my department(s) did not match up with some budget numbers that were generated before the downfall in the economy.

I basically knew it was coming before 2009 started, but it did take a month or two to slash our household’s spending.  Mine is a one-income household, with a three year old son at home, so things were tight anyways.  Well, as I said, there was no time to sit down and map out a set of goals.  I had to slash spending, and slash I did.  We eliminated just about all forms of discretionary spending, and I cut back slightly on some 401k contributions and I did not contribute much to my Roth IRAs this year.  It killed me to do this, but as they say, you have to pay yourself first.  I also paid off our second car this year, which eliminated $250 from our monthly budget.  This could not have come at a better time.

That was part and parcel my 2009 financially speaking.

2010

Looking ahead, I of course hope to get back on track with my bonus potential at my job.  It was a good lesson learned.  This bonus money really just began for me in 2008, and our household did not handle it very well.  I kept less track of spending, and really got a little sloppy with a few things.  It was the first time I had experienced such a windfall (basically, a 2% increase in one year) and to be honest we did not handle it very well.  However, there were no “beat up” sessions, it is simply a lesson learned.

If/ when I do get back on track, I‘d like to return to my 401k contribution percentages, and even make up for what I did not contribute this year.  I‘d like to do the same with my Roths, as long as I stay under the contribution limits.

In addition to this, any savings/spending/investing ideas that I come across in 2010, I plan on putting them into place as soon as I can figure out how.

And, on a side note, I want to get rid of these 10 pounds that have been nagging me for a few years now, and keep them off!  Having a sound body goes a long way to having a sound mind.

Agree with my mindset?  Disagree?  Have your own plan you’d like to share?  Let me know-I love your comments.

As we roll through this holiday season, I think we can all agree that it is a time for increased spending for most of us. First, there are gifts to be bought. Throw in any holiday parties you might be hosting. After that, you can throw in increased utility bills because of the weather and the Christmas lights in and around your house, and the list goes on and on.

Obviously, it is a time of year when we spend more money than normal.
During my struggle to get out of debt, this was always a time where I felt tempted to let my guard down. I mean, c’mon, it’s Christmas, right?

Who cares if you go out and buy the best food out there for your Christmas party, or let your utility bills run wild because of the lights and the cold weather? What’s the difference if you just go “nutso” on Christmas gifts, spending inordinate amounts of money on gifts for family and friends?

Reason being because, first, it Christmas. It’s the time of year to be in the spirit of giving, and why not just forget about a budget you might be on, a credit card that might be getting away from you, or anything else financially-related. Now is the time of year to forget about it all and just have fun and be in the Christmas spirit. Because on top of everything else, that tax check is just a few months away-we’ll just pay everything off with that.

This used to be my mindset. Until I decided that enough is enough.

So, am I advocating that we skimp on every little thing, micromanaging every extra purchase down to the last penny till the last day of the holiday season? Absolutely not. What I am saying is that let’s not forget that most of us are on a budget, most of us do not have an unlimited amount of expendable income, and if we just keep a little financial prudence and discretion somewhere in the back of our minds, then we should be able to lessen the burden just a little bit.

I mean, why get that January financial hangover every year, where we just can’t believe the money we spent and are scratching our heads wondering how we’re going to pay it off. Is this the memories you want for all holiday seasons to come?

While what I am about to give you is far from a comprehensive list to impact your holiday spending, I think there are at least a few good ideas in there that you may find useful. Of course, it’s just about too late to do anything about the money spent on gifts, but the holiday season isn’t over with and there might still be some time for us to keep our Christmas credit card bills from going through the roof.

 
Shopping-I try to buy as much during the year as I can, so there are some things that I just don’t have to buy. It sounds more difficult than it really is, but if you pay attention to your friends and family throughout the year, they will give you hints at things that would make good gifts. Find them on special, and you won’t even have to put them on your Christmas buying list in December.

 
Decorations-do your best to hold on to your decorations from year to year. Store them securely and they should keep forever. I mean, is it really necessary to go out and buy new decorations every year? How long is this stuff up, six weeks at the most?

 
Parties-you should be able to find cheaper alternatives all the way around, without disappointing your guests. Tempted to get a fruit tray, or cheese tray or whatever tray from your local store? Why not grab a decorative plate, a little leaf lettuce, buy the cheese/veggies/fruits yourself, and save some loot? I have priced these things out and you can save almost half by cutting the stuff up yourself.

 
Additionally, if entertaining friends, consider making it a pot-luck type of thing. That lessens the load financially, and allows your guests to bring some of their own favorites.

Beer/Wine/Liquor-Of course these are necessities for any party, but do you need to buy top-shelf stuff? I doubt anyone would mind if you purchased some middle-of-the-road brands instead. This can lead to major savings.

Utilities-don’t run Christmas lights all night. Monitor your thermostats. Better yet, already have your house winterized (insulation, etc) before you even get into the season.

Budget your gifts—Give yourself a limit and/or budget for what you’ll spend on friends and family. See how many you have to buy for and how much you can spend on each. At least then you’ll have a reference point.
 

Entertainment-we found quite a few free light shows in local neighborhoods and even one at a hospital. We decided against the one that cost $40 to attend. There are plenty of free things to enjoy during Christmas.

 
Credit Card Bills-don’t look at your tax return check as a bill paying option for your Christmas spending. With this mindset, of course you’ll spend more than you would if you didn’t have that check coming. Rather, look at your return money as extra income to invest and get it to start generating income for you. You can dip into it a little, but start to view it as an investment vehicle rather than a fund to pay off all your holiday cheer.

I feel that I enjoy the holiday season with my friends and family as much as anyone. My family gives out good gifts and we throw good parties. I just try to keep somewhere tucked away in my head the fact that all this stuff will have to be paid for, and why not exercise a little restraint while still partaking in all the festivities that Christmas has to offer.

Enjoy your holiday season!! And I hope you found this helpful.

For those of you who may not know, I have a two year old son named Nicholas who I adore and is by far the most important thing in my life. More important than this blog, more important than promoting my new book, far more important than my day job, and right up there with saving money. And the only reason why I say that is because saving money allows me to provide him with the best life I can possibly create.

Having said that, it is amazing how many money/life lessons there are that I have learned from him. Granted, he certainly doesn’t sit down with me and outline them in the form of a lecture. Far from it. More, it is in some of the simple ways that he acts and some of the off-the-cuff things that he says.
Once I looked a little deeper inside of these, I really took them to heart and realized what valuable lessons they really are.

Here are just a few:

“I can’t do it.“-A while back, whether it was climbing up on the couch, or learning to walk, or bouncing a basketball, his first response was always “I can’t do it.” Before I could convince him otherwise, it was starting to affect his ability to want to try to do new things. He was starting to instill in himself this belief that there were actually things out there in life that he could not accomplish. With a little coaching and positive reinforcement, I got him to stop saying that. He now approaches any challenge with the gritty determination of someone much older than he.

Lesson: You really can do anything in life.

“Try.” – Well, this kind of naturally follows from the first lesson. After I got him to stop muttering the “I can’t do it” phrase, he realized that most of the time, he could accomplish anything by just trying. Now, the couch that he couldn’t climb up on is conquered easily, and the basketball that he couldn’t bounce very well a few weeks ago, he can now keep going for as long as he wants to (and toss it in his little kiddie basketball net when he’s done!)

Lesson: Most of time, all you really need to do to accomplish anything in life is to try. To honestly try.

“It’s Mine.”-Although when he utters this phrase in a selfish fashion I try to discourage it and teach him the virtues of sharing, sometimes, I actually promote this mindset. For example, sometimes when he is combing through his toy box, he will say this “It’s mine” as though to say, this toy is mine and so I’m going to keep it in a good spot and make sure that I take good care of it so nothing happens to it. Now that is an idea that I think is great to have, especially in the mind of a two year old.

Lesson: We work so hard to bring good things in our life, why is it so hard to take care of them once they are there?

I wrote these out as more of being life lessons, and they are, but they are especially true when applied to our finances. If you’re struggling to pay bills, drowning in debt, or trying to get just a little bit ahead of the game, most of the time what is holding you back is the mindset that you are somehow incapable of getting to the next level. Anything can be accomplished!

Which goes to the second lesson. How do we get to this next level? Well, the best way to do that is simple. Try! Yep, just try. I have come across soooo many people out there who are just too afraid to take that first step, too hesitant to step out of their comfort zone that they wallow in their current financial state for absolutely no reason. It was how I lived my life for a long time until I decided to do something about it.

And finally, most of us out there work so hard for our money, and then it’s like we decide to just sit on our collective asses as it rolls out of our lives unnecessarily, as though there’s nothing we can do about it. One of the simplest lessons I learned over the years is this-if you work hard to bring money into your life, why not work at least a little hard to keep it there? A simple concept, but one that is majorly overlooked.

And all of this I leaned from a two year old boy!

I wanted to spend just a few short minutes discussing the idea behind the title of my book. As you will see if you ever get a chance to read it, I do not refer back to it very often throughout the book. I had come up with several other working titles for the book before I decided on this particular one.

The reason that I decided on this title for the book is because I felt that it is the overall piece of advice that I am trying to impart to you, the reader.  It basically means what it says: “Don’t Be a Mule.”

Some quick examples-

When you are doing your grocery shopping-Don’t Be a Mule. Don’t mindlessly wander through the aisles picking up the same overpriced items that you always do when you could take off the blinders, open your eyes, and start saving yourself some money (Chapter 3).

When you are paying your bills-Don’t Be a Mule. Do not robotically open up the envelopes, look at the amounts due, write out your checks, lick the stamps, and send them off. Check your utility bills for accuracy, really really check your credit card bills for mistakes, and if you find something wrong with any of them, then REALLY don’t be a mule; stand up and fight for the money that’s rightfully yours (Chapter 4).

When you get home from work at night- . Instead of sitting down in front of the TV for a mindless three hours of boob-tube watching, actually think about what you are passionate about and what you can provide value to in someone else’s life. This is the key and the beginning to being able to generate extra cash, without even getting a second job (see Chapter 5).

And there you have it, an explanation of what the title really means….