Archive for November, 2009

Ten Common Sense Ways to Reduce Our Identity Footprint

By Kevin M

Identity theft seems to be all around us these days, and while we shouldn’t live our lives in fear, we can lower the chances of becoming a victim considerably with just some minor modifications in the way we manage our affairs.

Consider the following ten suggestions:
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What Career Will You Have in “Retirement”?

By Kevin M

You didn’t read that title incorrectly—that’s the question I’m asking, What Career Will You Have in Retirement? For most people the answer to this question should be given at least equal weight with the more popular focus on retirement savings.

I’m not saying that we should de-emphasize retirement savings—quite the contrary. Most of us probably need to be saving more for retirement than we are, and that’s the basic problem. How much can we save between now and retirement while navigating the cost of living in an uncertain economy, and in unpredictable financial markets? Can we ever know for sure that we’ll have enough?

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Day Trading: Investment Program or Career?

By Kevin M

A few weeks back a comment was placed on this site by a visitor who’s url address included the letters “tv”. Since I’m always on the lookout for new and interesting career and business ideas, I had to follow up on this profile. If he was involved in television in any way, that might be a career profile worth looking for a story in. But upon following up through his website, I found out he certainly does have a most interesting career, but one that has absolutely nothing to do with television.

His career? Day trading.

It never crossed my mind to consider day trading to be a career of any sort. I’ve mostly tended to think of it as an investment scheme of some type, and not one for the faint of heart. (That part is most definitely true—see the “Disclaimer” from his website below if you have any doubts.)

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Can You Fix Things? Try Elevator Repair

By Kevin M with Larry McMahon, Elevator Repair Specialist

If you have a knack for repairs and you’ve been thinking about a career change, you might want to look into elevator repair…seriously!

Every contraption known to man eventually needs repair or replacement, virtually guaranteeing there will always be work available for the repairmen of the world. But the best opportunities are in fixing the equipment we don’t commonly think about, maybe because not nearly as many people ever enter the fields.

For starters, a college degree is not required for elevator repair. I did a web search for “elevator repair schools” and “elevator repair programs” and came up with nothing each time. Per Larry, on the job training is the only way in, and with so few people aware of the field, the line at the door isn’t all that long.

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Staying Motivated When You’re Stuck in Neutral

By Kevin M

Now might not be the best time to make a job or career change, but does that mean you have to sit where you’re at and just tough it out until better times come along and open up the doors of opportunity? Well, don’t go quitting your job, but there’s plenty you can (and should) do right now to get yourself prepared for the day when…

Start preparing yourself now for the place you want to be when the economy starts to creep back—many of the best opportunities will come as the elevator begins to rise, and pre-positioning yourself for that moment is something you don’t have to wait to start.

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Envision a Future Without Debt

STRATEGY #9 TO SURVIVE A DOWN ECONOMY

By Kevin M

In the best of times, borrowing seems to be a sensible way to get the things we want but can’t afford to purchase in full right now, but we’re sure we can tackle later with a predictably increasing income stream.

But when economic fortunes shift into low gear—as they are now—the same debt accumulated during better times can become a heavier burden, even one which is impossible to bear. Other than paying debt down and eventually off completely, there isn’t much we can do about the debt already accumulated. But the Great Recession should be a wake up call to all who might have come to view debt as a traveling companion in life.

In 10 Ways To Survive a Down Economy (published on Christianpf.com June 1) we listed ten strategies to help you deal with the bad economy. Our topic for today, Strategy #9:

”Envision a future without debt, and then pursue it.” Gradually pay down—then pay off—your debt. This includes your mortgage. It should go without saying that lowering your cost of living will be a crucial element in this effort as well. (Are you noticing a pattern?)”

Is that even possible any more?

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Persevere and Persist

By Dave Kelly

Are you worried about how things are going? Persevere and Persist

Having financial problems? Persevere and Persist

Lost your job? Persevere and Persist

Things seem a little out of control? Persevere and Persist

Are you to the point where you have no idea what to do? Persevere and Persist

You will come through this. You will overcome the challenges you face. You only have to do one thing: Persevere and Persist

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Ten Ways to be More Productive in Business and on the Job

By Kris

It seems that in our professional lives, we’re constantly reaching for more and always looking for ways to push ourselves harder and increase output. Our seemingly insatiable need to force just a little more productivity from ourselves and from our employees can backfire though and leave us looking and feeling like tyrannical taskmasters. However, there are ways to stay productive that don’t always include longer hours, drooping eyelids, and angry employees. Whether you’re an entrepreneur with only yourself to keep on task or you have a staff to keep motivated and productive, these tips can help reduce expenses, increase profits, and keep your business operating effectively.

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Credit Cards vs. Debit Cards – A Different Take

Kevin M

I hate this topic—so why am I writing about it? Because it seems to be a staple topic of the personal finance blogosphere! And almost universally, the conclusion will inevitably come down on the side credit cards as the better deal.

Warning: if you’re looking for that same conclusion here, you’ll be disappointed. Being contrarian by nature, here’s my take on the debate.

I think debit cards are the lesser of the two evils mostly because there’s little chance with a debit card that you’ll end up paying for this months expenses next month, next year or over the next 10 years. That ices it for me, but we can go on.

We can get into the mechanics of which costs more or has better benefits, but those are details that ignore the most important element–the human factor. If we’re all trying to get out and stay out of debt, spending with a credit card is a contradiction in terms.

Worse, for those who have dug themselves out of a debt hole and think that credit cards are now your friend, just remember that like an alcoholic, you aren’t cured, you’re just recovering. Why play around with credit cards when you got into trouble with them in the past?

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Savings as a Survival Strategy

STRATEGY #8 TO SURVIVE A DOWN ECONOMY

By Kevin M

A robust bank account has traditionally been considered to be a desirable asset to have, even a sign of prosperity. But in the past 20-30 years, with easy credit and almost predictable double digit returns in the stock market, conventional thinking came to view traditional savings as boring and unproductive. Being “fully invested” became the new mantra.

But given the current state of the economy, and of credit in particular, it’s a good bet that many people followed the new directive to their own detriment. Alas, credit lines can be shut down like a faucet, and stocks and mutual funds are really speculative investments and not true savings.

In 10 Ways To Survive a Down Economy (published on Christianpf.com June 1) we listed ten strategies to help you deal with the bad economy. Our topic for today, Strategy #8:

”Accumulate savings. Make it a lifetime activity. This is the best insurance you can have against sudden income disruptions. At the risk of being redundant, you will need to lower your cost of living in order to do this.”

Previous generations viewed savings as a necessary part of survival, almost as important as earning a living itself. But today is a new world, with new rules—or is it?

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