Category Archives: Alternative Investments

Jan 10 0 comments
Alternative Investments

Self-Esteem and Money

I’ve recently started reading a book about Self-Esteem - a person’s overall evaluation or appraisal of his or her own worth.   This book states there is a direct correlation between self-esteem and happiness, the more self-esteem you have, the happier you are.  It’s a good book, and it has lead me to conclude that there is also a direct correlation between self-esteem and money.

But I don’t think that a person that has high self-esteem would necessarily make more money than someone who doesn’t have good self-esteem.  In fact, in some cases, it could be the opposite.  I have met some very successful people who have a lot of money and can afford to buy nice things and yet are not happy.  They want more money.  But how much is enough?  When will they feel good enough about how much they have an what they own?

But of course, it could work the other way, too.  On the opposite end, I know people who earn very little who need to be earning more to get out of debt and save for the future.  But they are afraid to strive for more because they feel they aren’t good enough to succeed.  They don’t put themselves out there and try to get that job they really want or start that business because they fear they will fail.  So they stay unsatisfied with their earnings but at least they are in their comfort zone.

And finally, I know people who have and earn a lot and are happy with their money and those who do not not earn as much and are happy with their money.  A lot of their satisfaction comes from the fact that they are happy with themselves.

So, the funny thing is it almost doesn’t matter how much you earn or have as opposed to how you feel about it.  Maybe next time you think about your cash and find yourself unhappy with how much you earn or have, analyze first why you are unhappy.  Do you really need more or are you just trying to fill an emotional void with a big bank account and more things?  If you find you do need more, why are you not doing what you need to do to go get it?  If you think about this core issue first you might just realize you have enough or find a way to get the money you do really need.

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Jan 07 2 comments
Alternative Investments

It’s Not Only About How Much You Earn

My philosophy is that money is like energy. Just as you have to manage your energy (how much energy do you spend working, exercising, on your hobby, relationships, etc.) you must manage your money also in a similar way. It’s also my belief that what one needs to emphasize is that it’s not too important how much you earn as it is about the balance between how much you earn, spend and keep. Also good to note is that how you earn your money and how you spend it matters a lot, too.

Let’s take a couple of scenarios as an example:

A highly paid hot-shot executive with a very stressful and demanding job he dislikes spends his extra cash on cocaine to help him cope. He has no time for family, his only friends are his co-workers. He uses his wealth to buy expensive cars that he doesn’t have time to drive and goes on whirlwind vacations in exotic destinations. And yet most of his vacation time is spent asleep in his hotel room or partying with people he doesn’t really know just to help him forget that he is unfulfilled. Despite his high-paying job, he’s now in debt because of his bad habit.

In sharp contrast, here’s a professional dog-walker who earns 6 times less than the executive but loves her job, she gets to be with the dogs she adores, gets regular exercise and spends her free time taking little backpacking trips, exploring her area of the planet. She lives frugally within her budget, pays off her credit cards each month and puts aside a little bit for retirement.

I think most people would agree the dog-walker might have more money smarts than the executive because she knows what is good for her and does it because she values herself and her life more than a huge paycheck.

A person must value oneself first and foremost and it is one’s duty to take care oneself in the best way possible. This includes how one deals with money to achieve a good personal life balance.

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Sep 06 0 comments
Alternative Investments, Money and Relationships, Saving Tips

Difficult Clients Cost You Money

When I’m not writing for MLC, I run a small service-based business creating custom designs.  It can be very gratifying and for the most part I enjoy working with my clients helping them get their vision in tangible form.  I have managed to find a few that I have a great working relationship with and that have become regular and repeat customers.  But once in a while I encounter one or two that I consider ‘difficult’ or problem clients.

What makes a difficult client?  I can only base it on my experiences and there are many.  But here are the most common:

1. Someone that tells me there is something wrong with my product but will not articulate the details of the problem/s.  This makes it very difficult for me to fix.

2. Someone that tries to tell me how to do my job.  Why hire me if you can do it better than me?

3. Someone that does not read contracts before signing or who is not interested in the details of the agreement until something happens they did not anticipate.  I try and outline how I work to the client before any papers are drawn up, I have a ‘what to expect from me and what you (the client) are expected to do’ document just to make sure they know the details of the agreement, and finally a contract where all of this is again drawn out.  But some clients don’t seem to want to think about this stuff before giving a me a down-payment.

4. Someone that tries and get more from me and my service without wanting to pay extra.

5. And of course, someone that will not pay or does not pay on time.

Sadly, most difficult clients have all of the above characteristics.  And they complain to no end.  I have a theory that it has nothing to do with the quality of my work; they have other issues and take it out on me because they think a cheque paid to my name entitles them to do so.

I have spent too many hours trying to make ‘difficult’ clients happy and realized they cost me rather than make me money.  So many unpaid and unbillable hours are wasted on them and still they are unsatisfied.  I have learned my lesson, I now have a better screening process and choose my clients very carefully.  For the occasional one that slips through, I ‘fire’ them.  These people are simply not worth my time and effort.

Do you have clients that resemble the ones described here?  Do yourself a favour and let them go.  They cost you money rather than make you money and can make your work life miserable.  Instead, invest your time to find good clients because these clients will help you keep loving what you do and even make the many issues of running a business worthwhile.

Looking for more tips to save some cash?  Then be sure to visit the Saving Tips section of this website.  Or how about reading on how money affects our relationships?  Read the Money and Relationships section.  See the Alternative Investments section if you want to see what else we consider good investments.

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Jun 14 0 comments
Alternative Investments

Me Time

I’ve been really busy with a few personal projects and lately started feeling a bit stressed and overwhelmed.  I have decided it’s now appropriate to practice some self-care and take on some serious “Me Time”.  I call the time I recoup my energies Me Time because I can choose whatever I do for that period and I do it alone.  How long I take for Me Time depends on how stressed I feel.  I think it’s a very healthy and essential thing to do for oneself (I know it helps to keep me sane) and I know a lot of people who practice this.

Me Time can look different for different people.  Personally, I choose to do something cheap or free like take a long, hot bath and read a mystery novel in the evening or take a whole day off just roaming the city browsing and buying a few knick-knacks at the local flea market.  A couple of friends of mine really pamper themselves by going to the spa or salon for a full body massage or a make-over.  Another friend has a very stressful job and takes Me Time to the extreme.  She takes every Saturday, 8a.m. to 5p.m. off.  And when I say off, I mean OFF.  She locks her doors and doesn’t answer for anyone, she disconnects her phone, shuts off the TV and radio and computer and has a mini-retreat free of the outside world, it’s a media and people fast of a sort.  I was very proud of her when she told me this and I am glad she does it.  Now I know one of the reasons why she’s able to cope with her stressful job so well.

Have you been feeling a little harried lately?  When was the last time you took some Me Time?  I trust you’ll take care of yourselves.  And good-bye because my Me Time starts now…

See the Alternative Investments section if you want to see what else we consider good investments.

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May 31 0 comments
Alternative Investments, Organize

Some tips and benefits of holding a successful yard sale

I have a yard sale every 3 to 5 years.  It seems to take me around that time to accumulate enough stuff to hold one.  I like having yard sales, they are hard work but fun and can be very gratifying.  What usually happens is I do my spring cleaning around May each year and then take an inventory of what I have (Please see my Spring Cleaning post for some tips and benefits of spring cleaning). If I feel my home and/or storage area is bursting with stuff that other people might want, I have a sale.

I must mention before I go any further that my motivation for holding a sale is to get rid of clutter, making cash on the side is more of an extra benefit. That’s what I feel yard sales should be. Make the items cheap and sell them for a song, after all, you don’t want them anymore.  Your buyers will love you. If I had very valuable/big ticket items to sell, I’d do it on eBay not at a yard sale.

A sale is hard work and I don’t make lots of cash doing it, so why have one?

1. I make my family help so it’s a way to spend a whole day together.  And we have sandwiches or a pizza for lunch out in the yard!

2. We have a family project to do.  Everyone gets in the act when we prep for the sale.

3. We get rid of clutter.

4. We get to know my neighbours/community a bit more.  We get to meet/see the people who will be next in line to use and love our stuff.  Sometimes I like finding out who will be inheriting my stuff.  When a charity picks up my stuff, I don’t know who is going to get it.

5. We still manage to make some extra cash. (At minimum, the cash I make is enough to buy a big pizza lunch and a couple of dinners out at a moderately priced restaurant for 3 people - not bad!)

Here’s a link to a site that has a lot of neat tips for holding a successful yard sale: http://www.yardsalequeen.com/yardsale.htm

And here are some of my personal tips for yard sales (I tried not to repeat the tips that I had in common with the list from the link above):

1. Decide on a date:  Check weather reports, a lot of people aren’t too excited to go to yard sales on rainy or even cloudy days.

2. Have all your stuff ready: sale items tagged, price list printed out, small change ready, etc. at the very least, the day before the sale.  

3. Ask for help from friends and family members.  Make it a fun day.  Buy them a pizza and some refreshments for lunch.

4. During the sale, make sure your house is secure.  If no one is inside, make sure the house is locked.  Cordon off off-limits areas to the public.  Keep items not for sale in off-limits areas as much as possible, or if not, mark the item clearly NOT FOR SALE.

5. Keep sale items cheap/affordable.  For bigger items it might be better to use eBay.

7. People will bargain, and I let them!  As long as I don’t feel they’re trying to trick me or rip me off, I usually lower the item’s price for them.

8. At the end of the day I like having as little as possible to put away so I mark a whole table or bundle os items as “All these items for $5″.  Whatever is left unsold, I donate to charity.

For more organizing tips and stories, visit the Organizing section of this website.

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May 24 3 comments
Alternative Investments, Organize, Saving Tips

Spring Cleaning: How To Do It and Some Benefits

A wise neighbour once told me that in order for abundance and good things to come into your life, you have to make room for them.  This means clearing your mind of past regrets, grudges and other negative thoughts that keep you focused on your past, but often it means having to clear physical clutter as well.

Yes, it is the middle of spring and and I’ve finally gone through my stuff, got whatever needed to be stored stored, tossed tossed and given away given away.

I both love and hate spring cleaning.  I love it because every winter, I end up feeling cramped (I live in a small apartment).  Each year I acquire more stuff and putting away or tossing currently unneeded or unwanted items frees space and gives the illusion my apartment is roomier.  I hate it because it is hard work. That being said, it is definitely worth it.  Through the years I have saved a ton of dough by cleaning up and being organized.  I have also made a little cash by selling bigger ticket items as well.

This is my method for spring cleaning:

1. I decide which area or room or section of a room to do first (I do one room at a time usually and base it on which area is most cluttered).

2. I grab some boxes and label them A. For Charity, B. For Storage, C. Garbage/Recycling, D. Sell

3. I go through the room and start filling the boxes with the appropriate items.  I try to be merciless/unsentimental with my things: if I haven’t worn a piece of clothing, used an appliance, make-up for a year or so, it goes into the charity, sell, or garbage box.  If something is collecting dust in a corner, and I find that I am dusting it each cleaning day, same thing.  I most likely will never use it again or even miss it.  But if I do find something I cannot bear to part with or that is really only used/needed once per year - it goes into storage.

4. As soon as I am done cleaning each room, I call Big Brothers to pick up the charity box, put the garbage box out for trash pick up or go to the dump, and start posting stuff on Craigslist.  Warning: Don’t go back into the boxes. Once you put an item in the box, it stays there.

5. Next is the storage box.  I go over most, if not all the items in my storage area.  Sometimes I need to reorganize some stuff to get the new items from the box in there.  All the items I keep in the storage are categorized: Holiday Decor-Christmas/Halloween, Tools, Gardening Supplies, Seasonal Sports Equipment/Toys, Craft Supplies, Childhood Toys, etc.  I also have a list of the items I have within each category taped inside the storage doors (that way I never lose the list and it’s handy when it’s time to update it).  I add the stuff in my box into the list under the appropriate category.  This way I always know what I own/have and where to find it.  It’s a good habit since in the past I have bought doubles of things simply because I forgot I already owned it or worse, couldn’t find it when I needed it!

Some benefits I have gotten from spring cleaning:

1. I feel better, I’ve accomplished something.

2. If I find stuff to give away, I have contributed to the needy via a charity like the Salvation Army or Big Brothers.

3. I made a buck or two by holding a yard sale, or listing on eBay, Craigslist, etc.

4. When I have yard sales, I get to know my neighbours a bit better.

5. I know exactly what I have and own.

6. I have rediscovered some old treasures (old photos, my kid’s first school drawings…)

7. I now have more living space at home.

8. Now that I’m organized, I’ll be able to find things more easily when I need them.

9. I have been able to save some money (by not buying doubles of things, not paying for unneeded storage space).

If you haven’t gotten to doing your spring cleaning this year yet, why not start this weekend?  And if you find you have some stuff to get rid of, don’t worry, I’ll put down some Yard Sale tips next week that may help you out.

Do you have a de-cluttering, organizing or spring cleaning story?  Write us, we’d love to hear from you.

For more organizing tips and stories, visit the Organizing section of this website.

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May 10 0 comments
Alternative Investments

The Benefits of Trying Something Different and New

As I wrote in my last post - Mother’s Day Gift Suggestions…, I recently found a new hobby.  I am currently taking some classes on creating beaded jewelry.

Initially, I took the classes because I was in a bit of a funk and sometimes when I find myself feeling a bit blah, I force myself to try something different.  I found that there’s a shop called Moody Beads not too far way from my place that was giving classes for free.  You just pay for the materials you use.  So I called and asked about the schedule, found out roughly how much the materials would cost and signed up.

During the first class we created a charm bracelet. Honestly, I didn’t expect to enjoy myself but it was so much fun and I was so proud of what I made that I have since signed up for four more classes.  It is strange, since I hardly wore jewelry and never felt the desire to string anything together. But I am hooked.  Plus I made my mom’s Mother’s Day gift during one of the classes (See picture below) and she loves it.

One Strand Beaded Necklace

As I type this up, I have so far spent $75 on materials for a beaded ring, bracelet and 2 necklaces (Including my mom’s gift).  To me, it is money very well spent as I have acquired new skills, have made new friends and have four beautiful pieces of jewelry to show off (Yes, I wear them).  And needless to say, I am out of my funk all because I tried something different and new.

Care to try out beading?  If you live in the Burnaby/New West, BC area, visit www.moodybeads.ca and check out their workshops.  Or check out the web and find out if there’s a bead shop offering classes in your area.

If you want to try something new other than beading but are not sure what, grab a brochure from your local rec centre or a continuing education flyer from your local school board and see if there are any night classes you might be interested in taking this season.

Want more ideas on what to spend your hard-earned cash and precious time on?  See the Alternative Investments section.

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May 10 0 comments
Alternative Investments

Take a Walk

Shorts season is here, my thighs are still pale and fluffy, and my body is still holding on to some of the turkey fat from last year’s Thanksgiving.  I’m not willing to go on a diet (Haven’t been on a real one since High School) and not really willing to cut down even a little on the Nutella (As I mentioned before, I have the overactive sweet tooth affliction) so it’s time for me to get back to doing some serious walking to get my legs and body into shape.

Yes, I have chosen to go back to practicing this simple exercise for my weight loss plan because it’s easy, I can do it almost anytime and anywhere, and I don’t need any exercise equipment except a decent pair of shoes.  Another reason I chose it is because it’s really practical for me.  I live in the city.  The shopping mall, grocery, movie theatre, library, video store and rec centre are a brisk 20-minute walk away.  I won’t have to schedule a walk into my weekly routine, I simply allow for an extra 40 minutes (the time it will take for me to walk to and from) to do my regular errands.

It’s a very economical way to exercise: no gym membership fees and no special equipment other than shoes.  I can do it during a coffee or lunch break. It’s a great way to de-stress.  Plus if I am feeling lonely, I can do it while chatting with friends.  By the way, there are Meet-Up Walking Groups in many cities in North America that take walks regularly and would be very happy to have new members (See if your city has one here).

I did a little bit of research and found numerous articles on the web stating the health benefits of walking like managing weight, lowering cholesterol levels and blood pressure, and avoiding type 2 diabetes.  I also read that going on walks can improve your mood and mental state.  I found one stating you can improve your brain power by walking (I have listed all the article links at the end of this post).  Also, in my experience, I found that if I have a problem, I can find a solution to it more easily if I take a walk.  I think better when I pace around my living room (In fact, I pace around my living room as I write this article).  I heard from someone that it has to do with the body’s alternating motion between it’s left and right sides that triggers something in the brain’s creativity centre.

Anyhow, that’s it for this post.  It’s time for me to put my plan to work and pick up some soup for dinner and start walking to the grocery store.

To read more about walking, here are some of the articles I found: 

Improve general health:

http://www.mayoclinic.com/health/walking/HQ01612 and http://walking.about.com/cs/howtoloseweight/a/walkoffweight.htm

Improve mood:

http://www.thebostonchannel.com/bethisrael/19332840/detail.html

Improve brain power:

http://www.cbsnews.com/stories/2007/01/17/eveningnews/main2368898.shtml

See the Alternative Investments section if you want to see what else we consider good investments.

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May 03 0 comments
Affordable Gifts, Alternative Investments, Money and Relationships, Saving Tips

Mother’s Day Gift Suggestions (One with an Ulterior Investment Motive)

Mother’s Day is coming up!  If you have a mom you’d like to thank this special day, why not make her something?  Cook her a nice lunch (I have posted a great recipe for Baked Tofu and Rice today) or make a card.  Yes, MAKE a card.  Even if you think you have no artistic abilities.  I  am a mom of a 17 year-old and I still prefer the stuff he makes me.  His hand-made cards, crafted simply with colored paper and coloured inks, although not the kind you’d find at Hallmark stores, are my favourite presents.  Or if you think a card is not enough for your special mom, try one of the gift ideas in our Affordable Gifts section of this blog.

I love giving and receiving very personalized or hand-made gifts.  To me, it shows that the giver really took the time to think of the recipients and took the time and energy to create something for them.  Also, the gift is likely one of a kind or at least a limited edition.  And another plus is that it’s usually very economical to make something rather than buying an item from the store.

There are two moms I am going to give gifts to this year: my mom and my boyfriend’s mom, Mary.  I made Mary a personalized journal (a store-bought journal on which I pasted an acrylic transfer of a painting of me and boyfriend).   My mom likes jewelry, so I am making her a beaded necklace.

I am going to enjoy making my mom’s gift very much because I will be taking a class in order to create her necklace.  Since I believe in lifelong learning and trying out new things, I consider this class to be an investment.  I will be learning a new skill and have a reason (my mom’s gift) to practice this skill after the class is over.

If you have any other ideas for Mother’s Day or Affordable Gifts, I’d love to hear from you.  Or if you want more info on what I think are Alternative Investments, go to Alternative Investments section of this blog.

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Apr 26 1 comments
Alternative Investments, Money and Relationships

Friends: Cheaper than Psychotherapy

Sometimes my life gets filled with too much work, my to-do lists get crazy, I have too many chores and family obligations that I crash and realize my life is out of balance.  Don’t get me wrong, these episodes don’t occur too often and I do OK for the most part.  But when it does happen I re-evaluate and see where I could use some improvement.

Last time I checked, I found that some things I do better than others: I do fine with exercise but am bad with my food choices (I have a really active sweet tooth), I’ve gained some unwanted pounds and so am working on a healthier diet.  Also, I still take a lot of time for me (My precious alone time, yey!), but found that sometimes I don’t do great with nurturing my friendships.  I decided that this needs to change too! I haven’t been seeing much of my old friends for a while and I have missed them.  How did we get so out of touch?

Around a year ago, I was so focused on saving money for a new business and getting out of debt (my student loans which I’ve had for nine years now) that cash was really tight.  I revised my budget for groceries, rent, loan repayment, education, networking, marketing, entertainment, etc.  But I forgot to allocate time and set aside some money to see friends.  I started declining lunch and dinner invites, drinks and going dancing because of how much it would cost to go out.  That was a big mistake.  All work and very little play made me a dull and stressed-out girl.

I have a loving family that I am very grateful for and I have many nice new acquaintances from the classes I’m constantly taking but I needed more.  I needed to hang out with old friends.  Maybe because my old friends keep me grounded and sane because they help me relax and I can act like a dorky goofball when I’m with them?  It was harder to cope with all the stress of my life without them.

So, lesson learned, I have budgeted time into my schedule to see friends at least once per week (even the ones I have to commute an hour and a half to get to).  Mind you, I will not be going on crazy shopping sprees with my more extravagant friends but I have allocated funds to have lunch or drinks with them even if that means keeping my loans a little bit longer.  I think these people are a treasure and a good investment (cheaper than a psychiatrist) and I’ll hold on to them and nurture our relationships for as long as possible.

Want more ideas on what to spend your hard-earned cash on?  See the Alternative Investments section.  Or how about reading on how money affects our relationships?  Read the Money and Relationships section.

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