UPSB v4
Off-topic / Good Article About Life/Finance
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Date: Fri, Mar 30 2012 18:57:16
The Best Financial Advice I Ever Received Posted by Jamie Downey May 20, 2009 09:09 AM A friend asked me last week, “What is the best piece of financial advice you ever received”? Without much thought, I responded, “invest your time, don’t spend it”. I got that sage advice from Jeff Gitomer, an entrepreneur and author of several best selling books. While the idea is not original to Mr. Gitomer, I had never read it so succinctly nor contemplated so thoroughly. Similar to investing money, investing your time pays dividends for you in the future, while spending time is a quick pleasure that provides little future value. Investing time will improve you, your life, your health and especially your finances. After getting this piece of wisdom, I set out to eliminate the areas of my life where I was spending time. It is now shocking to me how much time I had wasted on activities that did not benefit my life. Here are the biggest areas where I wasted time and see many others doing the same: Television – This was the number one waster of time in my life, and based on my anecdotal evidence, I am not the only one guilty of this problem. I now try to limit time in front of the TV to under an hour a day. Usually this is my last hour of the day when I am pretty tired and my mind is not willing to provide me much motivation. When is the last time the television provided any benefit in your life? The answer is never. (One significant time saver – get TiVo or a DVR. I will now watch Patriots game in about an hour and fifteen minutes as opposed to three hours and fifteen minutes. This simple act saves me two hours every game.) Commuting – Getting to and from work is something we all must do and provides little future value in our life (save our paycheck). We can improve the value of this time though by listening to audio books, thinking or praying. Listening to music and talk radio helps reduce our rage on the road, but like television is only a mental diversion. Commercial radio will provide no real future benefit in your life. Sleeping – Obviously we all need sleep. However, most people can do fine with seven to eight hours of sleep a day. Anymore than that is wasting time. My wife likes to sleep in on weekends, usually until around 10:00AM. Last Saturday was one of those glorious spring days in New England. Unfortunately she lost three of those hours in slumber. Time that will never come back. Shopping – My time away from work is precious, and I can think of nothing worse than spending this time at the grocery store or in a crowded mall. Consider Peapod and shopping online when possible to avoid this misuse of your time. Shopping is a double whammy, it saps both your time and finances. Traveling – My work requires me to travel on occasion and last night was one of those days. I had a three hour flight from Logan to Ft. Lauderdale and was amazed at the time wasting activities involved by most passengers. Here was three hours that could be used in mental engagement and improving ones mental skills. I saw very few involved in such activities. Mostly people were just watching television or playing solitaire on the computer. Here are some activities that I believe Mr. Gitomer would agree are investing activities: Reading – This is the activity that I have increased the most since receiving Mr. Gitomer’s words of wisdom. I now set out to read at least an hour a day. It is usually the first hour that I get up in the morning and do it with a nice cup of coffee. I split this time between books that will improve my craft (business and motivational books) and spiritual books (the Bible and Christian books). Other good sources of information are history books and biographies. There is a website, 800CEORead.com which provides a list of the 100 best business books. I am trying to tick them all off my reading list. Keep away from trashy novels. Investing my time improving my trade will hopefully reap financial rewards in future years. Develop a passion for learning and your financial life will improve dramatically. Exercising – Can you think of a more classic example of investing your time than exercising? It is something that we do now that will improve our future time on this planet in the form of good health. Building relationships – There is no such thing in life as a self made person. We have all been helped along by family, friends, the church etc. Knowing the right people can help us reach our goals much quicker and easier. Search for the people that can help you reach your career goals and try and develop a relationship with them. Time with Family – My daughter Madeline is turning one this weekend. Any time I can spend with her and my wife is a blessing. Thinking – Our mind is our biggest asset and can solve most all of our problems. Spending quiet time every day thinking of ways to solve your problems, improve your productivity at work, increase sales, or accomplish a goal, can be done much faster and more efficiently by using your mind. We all have the ability to be creative, however, creativity is hard work and needs time like anything else. To paraphrase Thomas Edison creativity is one percent inspiration and 99 percent perspiration. Good Article I thought I'd share just for lolz. Most of what's above is definitely true. as a boglehead/fwf member i had the responsibility to share. This is more geared towards adults haha. Kids should be kids and live it up. adult life blowz
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Date: Fri, Mar 30 2012 19:07:15
Decent advice. For some of these tips I am too lazy and some I do because I'm lazy.
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Date: Fri, Mar 30 2012 19:35:17
They should add "Going on UPSB for hours everyday" on the spending time list.
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Date: Fri, Mar 30 2012 19:38:22
I am usually working while on upsb=p
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Date: Fri, Mar 30 2012 19:51:20
I am usually procrastinating working while on upsb =p
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Date: Fri, Mar 30 2012 20:28:13
i like this alot. i try not to waste any time, but sometimes we all let the laziness get the best of us.
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Date: Fri, Mar 30 2012 20:29:14
seems pretty obvious to me time is an important resource, playing games will teach you that
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Date: Fri, Mar 30 2012 20:32:48
obvious yet we all need reminders. and we all still play games -_- haha sigh owells
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Date: Fri, Mar 30 2012 20:35:25
PenwisH wrote: obvious yet we all need reminders. and we all still play games -_- haha sigh owells
i meant that in games, especially strategy games, time is a valuable resource., so any experienced gamers would know that you need to save time. -
Date: Sat, Mar 31 2012 13:22:10
Zombo wrote: i meant that in games, especially strategy games, time is a valuable resource., so any experienced gamers would know that you need to save time.
thats like a weird thing. you play games you waste time(?), and by playing games you understand you should save time. -
Date: Sat, Mar 31 2012 14:00:15
This is great, thanks for sharing PW. I usually know that I shouldn't be in front of the computer, but I can't get away. It's not even much fun, I don't know what sorcery modern technology employs.
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Date: Sat, Mar 31 2012 14:00:50
Jazz wrote: thats like a weird thing. you play games you waste time(?), and by playing games you understand you should save time.
The point isn't that you should never relax/enjoy entertainment. So if anything zbo is saying video games are the best way to spend your down time because then you're still learning skills even when you're not actively being productive -
Date: Sat, Mar 31 2012 14:15:21
Jazz wrote: thats like a weird thing. you play games you waste time(?), and by playing games you understand you should save time.
if u play the roght games its not a waste of time. ur relaxing while improving some skill for example http://www.huffingtonpost.com/2011/09/19/aids-protein-decoded-gamers_n_970113.html -
Date: Sat, Mar 31 2012 19:19:55
That's a misleading example though ... nobody applied some skill they learned in the game to medicine ... the "game" WAS the medicine That's like saying games can help make you stronger, then linking to a person who got ripped playing "who can do the most pullups" lol ... if the game's only purpose is to achieve the goal then it doesn't really count
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Date: Sat, Mar 31 2012 20:00:10
time=/=money
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Date: Sun, Apr 1 2012 21:10:11
Jetpens wrote: The Best Financial Advice I Ever Received Posted by Jamie Downey May 20, 2009 09:09 AM or praying.
Really? Talking about wasting time and you bring up praying? This man is not very intelligent. -
Date: Sun, Apr 1 2012 21:19:23
sangara wrote: Really? Talking about wasting time and you bring up praying? This man is not very intelligent.
Would you have reacted like that if he said "meditating" instead? Praying is time to reflect on your life, I'm not even christian and I'm offended at the absurdity your statment -
Date: Sun, Apr 1 2012 21:42:41
i live in the forest in an RV and just work, no property taxes or utility costs. feels good man
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Date: Sun, Apr 1 2012 21:46:07
Sc00t wrote: i live in the forest in an van down by the river
fixed -
Date: Sun, Apr 1 2012 21:47:56
start1337 wrote: fixed
thats where i meet women and/or lost waifs -
Date: Sun, Apr 1 2012 22:50:50
start1337 wrote: Would you have reacted like that if he said "meditating" instead? Praying is time to reflect on your life, I'm not even christian and I'm offended at the absurdity your statment
No because meditating implies that you're reflecting on your life, praying implies that you're asking a higher being to do your bidding. -
Date: Sun, Apr 1 2012 23:03:10
sangara wrote: No because meditating implies that you're reflecting on your life, praying implies that you're asking a higher being to do your bidding.
oh good god the stupidity of this statement hurts my soul -
Date: Mon, Apr 2 2012 00:17:02
Just read the article:
and spiritual books (the Bible and Christian books)
The author is obviously a religious man, in this case a Christian. I'd say with 99% certainty that when he prays he is doing one of two things, asking something of his god, or thanking his god. Also you don't have a soul, deal with it. -
Date: Mon, Apr 2 2012 00:23:19
sangara wrote: Just read the article: The author is obviously a religious man, in this case a Christian. I'd say with 99% certainty that when he prays he is doing one of two things, asking something of his god, or thanking his god. Also you don't have a soul, deal with it.
"Hey, you know what counters stupidity and prejudice? Stupidity and prejudice in the other direction!!" Some people kill me man, the ability to act condescending while not realizing the stupid amounts of irony -
Date: Mon, Apr 2 2012 00:36:45
You're being openly prejudice ("He's not very intelligent" based only on his religion) and using BLATANT falsehoods to back it up ("praying implies that you're asking a higher being to do your bidding" you know that's not true. You just said it because it backs up your argument.) How is that any different than being openly racist. It makes me sad that people can act like this and then feel smugly superior about it.
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Date: Mon, Apr 2 2012 01:22:47
The point of this wasn't about religion in the first place. The author, regardless of his beliefs, had some great advice to give. You guys are wasting time arguing.
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Date: Mon, Apr 2 2012 01:25:28
He made a comment on the article, I responded. So we're supposed to all just read the article and not discuss it? You're wasting time telling us what to talk about
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Date: Mon, Apr 2 2012 01:50:52
I'd rather not get into your debate with Sangara. I was just making a comment using the author's logic. I don't really agree or disagree with either of you since arguments on the internet are pointless.
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Date: Mon, Apr 2 2012 02:29:12
Religion is a crutch that society should have long forgotten. Anything tied to it is a waste of time. Why not? http://www.nytimes.com/2006/03/31/health/31pray.html?pagewanted=all
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Date: Mon, Apr 2 2012 02:35:26
sangara wrote: Prejudice is a crutch that society should have long forgotten. Anything tied to it is a waste of time.
Fixed. -
Date: Mon, Apr 2 2012 02:39:37
Your opinion.
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Date: Mon, Apr 2 2012 03:28:48
How the heck did religion get tied into this? XD Lol being religious doesn't automatically make the guy's opinion stupid or merit-less. Same goes for non religious folk; just because they're not religious doesn't make their opinions and personal convictions any more valid. Judging someone based on religious background is just as bad as, say, racially profiling someone. no?
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Date: Mon, Apr 2 2012 15:45:59
strat1227 wrote: That's a misleading example though ... nobody applied some skill they learned in the game to medicine ... the "game" WAS the medicine That's like saying games can help make you stronger, then linking to a person who got ripped playing "who can do the most pullups" lol ... if the game's only purpose is to achieve the goal then it doesn't really count
well in this example, the researchers have found that gamers have developed puzzle solving skills that can be applied to solve a certain problem. If the researchers had strong puzzle solving skills, they wouldn't have needed to develop that game in the first place because they would have solved the problem already. -
Date: Mon, Apr 2 2012 17:50:31
Zombo wrote: well in this example, the researchers have found that gamers have developed puzzle solving skills that can be applied to solve a certain problem. If the researchers had strong puzzle solving skills, they wouldn't have needed to develop that game in the first place because they would have solved the problem already.
Huh? Maybe I misread, but it wasn't that the gamers had skill that the researchers didn't have. It was just a manpower thing, same reason NASA has a program you can install that uses your computer for computer. It's not that your computer is better, it's just that they need more computing power I might have misunderstood though