As most of you know Thom and I have been mainly self-employed since we got together over 37 years ago. Fortunately, we are currently more financially secure and wealthy than we’ve ever been throughout our lives. Are we rolling in money? Not hardly. But not a week goes by that we don’t hear how so many others are stressed about money, how difficult are these economic times, and how financially things seem to be getting worse everywhere in the world. So what makes me feel so good about money these days? It’s probably because Thom and I take a money SMART approach to our finances. [Read more…]
Last week, after publishing my article on Rightsizing vs. Downsizing, a discussion came up while talking with friends at Happy Hour. I could tell that even though everyone agreed that going debt free was a wonderful element of rightsizing and simple living, most felt it was out of reach for the average family. That was a great reminder that rightsizing isn’t just about the size of your house, your car, or your credit limit—instead, rightsizing touches every area of your life including (and maybe especially) your finances. In fact, once a person learns to manage their money—both expenses and income—rightsizing the other areas of life will come more easily. Down the line, a person can eventually achieve the ultimate goal of rightsizing, which is to live a life that uniquely fits and brings the greatest amount of peace, contentment and joy to that individual and family. [Read more…]
Happy SMART Day Everyone!
Quite by accident, Thom and I started watching a show on TV call “Restaurant Impossible” on the Food Network. In the show, a failing and desperate restaurant owner somewhere in the country contacts Chef Robert Irvine. Chef Irvine flies in with a designer, a contractor, ten thousand dollars and two days to totally transform these dismal eateries and provide the last hope for these owners to remain in business. It’s fun to watch the transformation of the interiors—but even more fascinating to watch the transformation of the proprietors. In just about every case the owners have gone years without any income and are deeply in debt, while their restaurant and its business deteriorates around them. It’s hard to imagine why they didn’t do something about it or at least they cut their losses long before they hit bottom. But are they unusual? Probably not. Maybe “Budget Impossible” happens to all of us if we wear blinders when it comes to our finances or our lives. [Read more…]