Regardless of what you’ve heard, money does matter.
Our daily life (and our future life) requires a degree of financial commitment.
Bills, food, car payments, and retirement - the list goes on and on.
But! You do have direct control over your money, your financial decisions, and your actions.
There is a way, a sometimes difficult way, to use your finances to your advantage.
You can exploit your finances! Not only exploit your finances, but use them to exploit your life!
The key…your relationship with money.
Are you in a healthy partnership with your money?
Or have you let your finances dominate your every decision?
Take control! Take back your life!
Use your finances to take advantage of your dreams.
Making your dreams a reality…
Exploit your finances, exploit your life!
Showing posts with label finances. Show all posts
Showing posts with label finances. Show all posts
Monday, June 29, 2015
Monday, August 11, 2014
Unexploited Finances: FICO Score Changes. The Good, The Bad, and The Ugly
There are a lot of articles being published on the recently announced changes in the FICO score calculations.
You can read more about it here and here.
My thoughts...
The lessons borrowers learned from prior debt experiences can now be used!
Individuals who were denied credit, or only provided credit with higher interest rates, based on prior payment issues (debt sent to collections) will be able to receive loans!
Your prior credit history of debt in collections will no longer be included in your credit score calculations.
Businesses (credit card companies and auto dealerships) and banks will be able to loan more money, adding profits into the American economy.
Employment increases.
Individuals who have not learned lessons from their past debt problems will be able to take on more credit.
Having bad personal money practices, these individuals run the risk of taking on too much debt, not making enough money to pay off the debt (especially if a major cash issue comes up, like an unplanned medical payment), and needing to be bailed out (bankruptcy, partial blame of the housing bubble burst).
Businesses and banks, quick to issue credit, will find themselves with individuals unable to pay back the money.
Millions of individuals take advantage of the loosened score calculations, take on credit.
Thousands of businesses take advantage of the loosened score calculations, issue credit.
Individuals take on too much debt.
Individuals pay back too little of the money.
Individuals default on their loans.
Businesses miss expected earnings.
A bubble bursts...multiple bubbles burst...
Employment decreases.
Consumerism gone too far. Again.
"Those who cannot remember the past are condemned to repeat it." (George Santayana)
I hope this change helps individuals who were put in tough (past) situations. We all go through financial difficulties and (I personally) would not want to be judged on these situations.
I would encourage anyone who is considering consumer debt (including mortgages and car loans) to work on their personal financial situation before taking on any credit.
Make more than you spend.
Save for rainy days.
Save for security and comfort. (retirement)
Save for priorities.
Use the Four Steps for Exploiting Your Finances (Step 1, Step 2, Step 3, Step 4).
Yours in exploiting life!
Quinn
You can read more about it here and here.
My thoughts...
The Good
The lessons borrowers learned from prior debt experiences can now be used!
Individuals who were denied credit, or only provided credit with higher interest rates, based on prior payment issues (debt sent to collections) will be able to receive loans!
Your prior credit history of debt in collections will no longer be included in your credit score calculations.
Businesses (credit card companies and auto dealerships) and banks will be able to loan more money, adding profits into the American economy.
Employment increases.
The Bad
Individuals who have not learned lessons from their past debt problems will be able to take on more credit.
Having bad personal money practices, these individuals run the risk of taking on too much debt, not making enough money to pay off the debt (especially if a major cash issue comes up, like an unplanned medical payment), and needing to be bailed out (bankruptcy, partial blame of the housing bubble burst).
Businesses and banks, quick to issue credit, will find themselves with individuals unable to pay back the money.
The Ugly
Millions of individuals take advantage of the loosened score calculations, take on credit.
Thousands of businesses take advantage of the loosened score calculations, issue credit.
Individuals take on too much debt.
Individuals pay back too little of the money.
Individuals default on their loans.
Businesses miss expected earnings.
A bubble bursts...multiple bubbles burst...
Employment decreases.
Consumerism gone too far. Again.
Summary
"Those who cannot remember the past are condemned to repeat it." (George Santayana)
I hope this change helps individuals who were put in tough (past) situations. We all go through financial difficulties and (I personally) would not want to be judged on these situations.
I would encourage anyone who is considering consumer debt (including mortgages and car loans) to work on their personal financial situation before taking on any credit.
Make more than you spend.
Save for rainy days.
Save for security and comfort. (retirement)
Save for priorities.
Use the Four Steps for Exploiting Your Finances (Step 1, Step 2, Step 3, Step 4).
Yours in exploiting life!
Quinn
Thursday, July 10, 2014
Unexploited Finances: Who Are You Blaming?
Where do you start your new financial and life journey?
With yourself!
Truly, there is no secret.
You and you alone are accountable for your actions – both your failures and your successes. Once you come to terms with this, you can begin the long process into exploiting life!
This is difficult. It requires a lot of extra effort.
Coasting through life is easy, living life is not! As you’ve probably heard numerous times – if it was easy, then everybody would be doing it!
BUT know this…
You CAN do it!
There is nothing holding you back that you can’t overcome!
If you need help, encouragement, an accountability partner, then find it!
But how does this fit your finances?
Because I’m sure you’ve used every excuse in the book as to why your finances are running your life and you’re not LIVING your ideal lifestyle!
“My job doesn't pay me enough money.”
Truly, there is no secret.
You and you alone are accountable for your actions – both your failures and your successes. Once you come to terms with this, you can begin the long process into exploiting life!
This is difficult. It requires a lot of extra effort.
Coasting through life is easy, living life is not! As you’ve probably heard numerous times – if it was easy, then everybody would be doing it!
BUT know this…
You CAN do it!
There is nothing holding you back that you can’t overcome!
If you need help, encouragement, an accountability partner, then find it!
But how does this fit your finances?
Because I’m sure you’ve used every excuse in the book as to why your finances are running your life and you’re not LIVING your ideal lifestyle!
“My job doesn't pay me enough money.”
“I need the new phone to stay in contact with friends.”
“I need new clothes and a car for my job.”
“They’re just lucky they can afford a vacation, having kids doesn't allow me to do this.” Stop blaming others! Start blaming yourself!
Take the first step and take ownership of your life and of your financial decisions.
Once you recognize that YOU are the problem, then you can go about making changes.
Because you CAN change yourself!
Everything is a choice.
I have these words posted on both my work and personal computers. It's a reminder that I've made my current choices and I can make all of my future choices. These choices include my work, my travel, my finances, and my life!
You too have the choice. The choice to living your ideal lifestyle, the choice of controlling your finances!
Start now, make the choice! Stop blaming others!
Yours in exploiting life!
Quinn
Monday, June 16, 2014
Unexploited Finances: Step Four, Exploit Your Life
Below is part four of a four step series on how to go about Exploiting Your Finances, Exploiting Your Life! (See Step One, Priorities, Step Two, Current Finances, Step Three, Exploit Your Finances.)
And the fun continues with Step Four!
Short and sweet = IF you exploit your finances, THEN you'll reach your priorities AND you'll already be exploiting your life!
If you're able to follow this process...if you're able to get a real understanding of how your finances impact your life, and you can take control of your finances...you'll be exploiting your life before you know it!
You'll feel like you have life figured out!
You'll wonder why you didn't do this earlier!
You'll be:
By confronting your finances head-on, with your priorities and a plan leading the way, you can take back your life! Make your own path on your own journey!
Will your path change along the way? Yes, they will! But this isn't bad, life happens. When you change your path, revisit your priorities, revisit your finances, exploit your finances, and continue on!
With this plan, you'll no longer have to stress about money. You'll no longer have to worry about what the future might bring. You'll be financially prepared for anything!
Priorities also change after you've met your prior ones. Don't stop! Revisit what is important to you (Step One), decide how you can achieve it, and prioritize!
If you've just been reading and not acting...start now! Go find a quiet place and determine your priorities!
Start exploiting your finances, exploiting your life!
Yours in exploiting life!
Quinn
And the fun continues with Step Four!
Short and sweet = IF you exploit your finances, THEN you'll reach your priorities AND you'll already be exploiting your life!
If you're able to follow this process...if you're able to get a real understanding of how your finances impact your life, and you can take control of your finances...you'll be exploiting your life before you know it!
Exploit Your Life
You'll feel like you have life figured out!
You'll wonder why you didn't do this earlier!
You'll be:
- Taking weekend trips...every weekend!
- Finding financial freedom!
- Finding time! Yes, time! That unstoppable moving ecstasy!
- Retiring early!
- Taking a gap year! Or a few!
- Not stressing about life! Rather, you'll be living life!
By confronting your finances head-on, with your priorities and a plan leading the way, you can take back your life! Make your own path on your own journey!
Priorities Change
Will your path change along the way? Yes, they will! But this isn't bad, life happens. When you change your path, revisit your priorities, revisit your finances, exploit your finances, and continue on!
With this plan, you'll no longer have to stress about money. You'll no longer have to worry about what the future might bring. You'll be financially prepared for anything!
Priorities also change after you've met your prior ones. Don't stop! Revisit what is important to you (Step One), decide how you can achieve it, and prioritize!
Best Time to Act...NOW!
If you've just been reading and not acting...start now! Go find a quiet place and determine your priorities!
Start exploiting your finances, exploiting your life!
Yours in exploiting life!
Quinn
Wednesday, June 11, 2014
Unexploited Finances: Step Three, Exploit Your Finances
Below is part three of a four step series on how to go about Exploiting Your Finances, Exploiting Your Life! (See Step One, Priorities and Step Two, Current Finances.) (UPDATE: Find Part 4 here.)
Now the fun starts!
Now you get to BLAME your priorities and exploit your finances!
Cutting your expenses is still the default solution for finding money for your goals, but it doesn't have to be the only solution. How about your income?!
This may be the time for you to ask about that raise at work. Go in with your accomplishments, what you bring, and why you deserve a raise!
No opportunity for a raise...have you looked at the job market lately? You should always keep your eyes open! If you're not watching for it, your ideal job may pass you by. You may have also boosted your current skills since your last job search. (Don't forget to update your LinkedIn profile.) Go ahead, take a look. Blame it on your priorities!
If time is on your side, just not the income, there is also the possibility of a part-time job or a side business. There are lots of opportunities to make more money, it's just a matter of having a reason! Priorities = Reason.
Adding income is a great tool for exploiting your finances because this money hasn't already been allocated. Fresh money! You can just shovel it into your goals!
Okay, now it's time to look at those bills.
After your cash flow statement work in Step Two, Current Finances, you have a starting point for your current budget. So how does it look?
Does it look pretty slim?
Do you already cook your meals at home and cut out the cable bill years ago?
Write down your priorities. With this list next to you, go through your expenses - one by one. What's more important?
Is the daily lunch more important then getting your time back?
Is the cable bill more important then your gap year? (You watch all of your shows on Netflix and Hulu anyways.)
What's left?
You may not be able to cut expenses out if they're all reoccurring debt payments or rent payments (student loan, car loan, credit card debt, rent, etc). If this is the case, look at whether you really need these items. Take a BIG step back. We're making drastic changes here, we're exploiting!
Do you really need two cars? Can you move to a lower rent apartment?
These are painful decisions. But that's where we exploit our finances! Blame your priorities! Is your priority to be debt free? Well...selling the car can not only reduce your current debt, but also remove a monthly payment! You don't have to go car free, get a used car. One that fits your new goals!
(After my last car and paying off all of my debt, I promised myself that I'll never take another loan out on a car!)
If friends start giving you a hard time about your 'used' car, say "I could have a new car if I wanted, but I have this goal to be debt free"...(priority blamed!).
The 'extra' monthly money can go towards the student debt, paying it off early! And so on, and so on. Amazing!
Make sure you don't cut everything out though. Exploiting life means that you enjoy every single day. If having that morning latte is about the best thing that's ever happened to you on a Monday morning, then keep it!
Keep items that make you happy, remove items that are just filler!
Have fun with the 'blame'. Make it a game!
What can I change and blame on my priorities?
Your family and friends will understand and soon everyone will be trying to help you meet your goals!
Using your priorities as scapegoats can have positive side effects - one of which is a conversation starter.
When you decline the next lunch out and blame your priority, coworkers and friends will ask you about it. You can share why being debt free, gaining your time back, and/or traveling the world is important to you. They may even be inspired and start working on their own priorities!
As mentioned in Step One, Priorities, talk about your priorities regularly! Don't be shy. This will help set it in your daily routine! This will help keep you focused! This will help you apply your priorities to all of your financial decisions!
You may still feel uncomfortable talking about finances with strangers. Money is still a taboo discussion in society today, but do it anyways! Showing that you're comfortable with your money is an example of you managing your finances! Those individuals who are uncomfortable talking about money are usually managed by their finances. (I'm not saying discuss your huge salary, no one will want to talk to you...ever. I am saying discuss your financial goals and how you plan to meet them!)
Blame, blame, blame! Use your priorities to exploit your finances!
Yours in exploiting life!
Quinn
Now the fun starts!
Now you get to BLAME your priorities and exploit your finances!
Exploit Your Income
Cutting your expenses is still the default solution for finding money for your goals, but it doesn't have to be the only solution. How about your income?!
This may be the time for you to ask about that raise at work. Go in with your accomplishments, what you bring, and why you deserve a raise!
No opportunity for a raise...have you looked at the job market lately? You should always keep your eyes open! If you're not watching for it, your ideal job may pass you by. You may have also boosted your current skills since your last job search. (Don't forget to update your LinkedIn profile.) Go ahead, take a look. Blame it on your priorities!
If time is on your side, just not the income, there is also the possibility of a part-time job or a side business. There are lots of opportunities to make more money, it's just a matter of having a reason! Priorities = Reason.
Adding income is a great tool for exploiting your finances because this money hasn't already been allocated. Fresh money! You can just shovel it into your goals!
Exploit Your Expenses
Okay, now it's time to look at those bills.
After your cash flow statement work in Step Two, Current Finances, you have a starting point for your current budget. So how does it look?
Does it look pretty slim?
Do you already cook your meals at home and cut out the cable bill years ago?
Write down your priorities. With this list next to you, go through your expenses - one by one. What's more important?
Is the daily lunch more important then getting your time back?
Is the cable bill more important then your gap year? (You watch all of your shows on Netflix and Hulu anyways.)
What's left?
You may not be able to cut expenses out if they're all reoccurring debt payments or rent payments (student loan, car loan, credit card debt, rent, etc). If this is the case, look at whether you really need these items. Take a BIG step back. We're making drastic changes here, we're exploiting!
Do you really need two cars? Can you move to a lower rent apartment?
These are painful decisions. But that's where we exploit our finances! Blame your priorities! Is your priority to be debt free? Well...selling the car can not only reduce your current debt, but also remove a monthly payment! You don't have to go car free, get a used car. One that fits your new goals!
(After my last car and paying off all of my debt, I promised myself that I'll never take another loan out on a car!)
If friends start giving you a hard time about your 'used' car, say "I could have a new car if I wanted, but I have this goal to be debt free"...(priority blamed!).
The 'extra' monthly money can go towards the student debt, paying it off early! And so on, and so on. Amazing!
Make sure you don't cut everything out though. Exploiting life means that you enjoy every single day. If having that morning latte is about the best thing that's ever happened to you on a Monday morning, then keep it!
Keep items that make you happy, remove items that are just filler!
Blame Game
Have fun with the 'blame'. Make it a game!
What can I change and blame on my priorities?
Your family and friends will understand and soon everyone will be trying to help you meet your goals!
Using your priorities as scapegoats can have positive side effects - one of which is a conversation starter.
When you decline the next lunch out and blame your priority, coworkers and friends will ask you about it. You can share why being debt free, gaining your time back, and/or traveling the world is important to you. They may even be inspired and start working on their own priorities!
Daily Life
As mentioned in Step One, Priorities, talk about your priorities regularly! Don't be shy. This will help set it in your daily routine! This will help keep you focused! This will help you apply your priorities to all of your financial decisions!
You may still feel uncomfortable talking about finances with strangers. Money is still a taboo discussion in society today, but do it anyways! Showing that you're comfortable with your money is an example of you managing your finances! Those individuals who are uncomfortable talking about money are usually managed by their finances. (I'm not saying discuss your huge salary, no one will want to talk to you...ever. I am saying discuss your financial goals and how you plan to meet them!)
Blame, blame, blame! Use your priorities to exploit your finances!
Yours in exploiting life!
Quinn
Tuesday, June 10, 2014
Unexploited Finances: What?! Hillary & Bill Clinton Were Broke When They Left The White House?
Hillary Clinton recently stated the Clinton's were broke when they left the White House...is this the financial example we want in our leaders?
Politics aside, there are two ways to look at this:
The Clinton's were terrible with their money!
They received a salary of $200,000+ a year and ended up broke with massive debts!
Where did their money go? Did they have a budget? Are they encouraging Americans to spend beyond their means?
This is a blatant example of the financial mess that Americans find themselves in. Overspending on luxuries. Not focusing on their current and future goals or retirement. The mentality that if we have the money lets spend it. Or possibly, let's put it on the credit card, because we'll earn enough to pay it off. But hey, we deserve it!
The public looks up to our leaders and celebrities. We try to mirror them. We care about what they wear (there are always articles on what the First Lady is wearing), how they travel (we cannot all travel on the Air Force One), and how they rub shoulders with big-wigs (not all of us can afford black-tie events).
When our President and Senators overspend, they're setting terrible examples!
A story of triumph!
Starting in the hole - with massive debt and broke - the Clinton's were able to amass a fortune, estimated to be $80 million, since leaving the White House!
We've all made terrible financial decisions. Who are we to judge others when they make these decisions? Let's instead cheer them on their subsequently wise decisions! Find ways to get out of debt! Find ways to make a larger income!
These are the examples that we should show our children. Look Timmy, the Clinton's were broke and now they're worth $80 million, and this is how they did it.
You can overcome bad financial habits!
(I would ask if the Clinton's have a budget, research their major purchases, and are really financially independent.)
Which way do you look at this? Are they bad examples of financial decisions and consumer excess? Or are they good examples for overcoming financial obstacles to become wealthy?
Yours in exploiting life!
Quinn
Politics aside, there are two ways to look at this:
Bad Example For Americans
The Clinton's were terrible with their money!
They received a salary of $200,000+ a year and ended up broke with massive debts!
Where did their money go? Did they have a budget? Are they encouraging Americans to spend beyond their means?
This is a blatant example of the financial mess that Americans find themselves in. Overspending on luxuries. Not focusing on their current and future goals or retirement. The mentality that if we have the money lets spend it. Or possibly, let's put it on the credit card, because we'll earn enough to pay it off. But hey, we deserve it!
The public looks up to our leaders and celebrities. We try to mirror them. We care about what they wear (there are always articles on what the First Lady is wearing), how they travel (we cannot all travel on the Air Force One), and how they rub shoulders with big-wigs (not all of us can afford black-tie events).
When our President and Senators overspend, they're setting terrible examples!
Good Example For Americans
A story of triumph!
Starting in the hole - with massive debt and broke - the Clinton's were able to amass a fortune, estimated to be $80 million, since leaving the White House!
We've all made terrible financial decisions. Who are we to judge others when they make these decisions? Let's instead cheer them on their subsequently wise decisions! Find ways to get out of debt! Find ways to make a larger income!
These are the examples that we should show our children. Look Timmy, the Clinton's were broke and now they're worth $80 million, and this is how they did it.
You can overcome bad financial habits!
(I would ask if the Clinton's have a budget, research their major purchases, and are really financially independent.)
You Decide
Which way do you look at this? Are they bad examples of financial decisions and consumer excess? Or are they good examples for overcoming financial obstacles to become wealthy?
Yours in exploiting life!
Quinn
Monday, June 9, 2014
Unexploited Finances: Step Two, Current Finances
Below is part two of a four step series on how to go about Exploiting Your Finances, Exploiting Your Life! (See Step One, Priorities.) (UPDATE: Find Part 3 here, Part 4 here.)
Have you ever taken a good hard look at your current finances?
Have you ever taken a good hard look at your current finances?
Some of you may do this regularly, but I’m sure a lot of you
are still tracking your finances in your head!
You know you have the mortgage to pay, you know you have to
eat every day, you know you have the car loan and the insurance payments. But do
you really know where you stand at this minute, this day, this month! You
probably are not financially aware!
Just being aware of your finances can have a significant impact
on you!
Let’s say that you have never looked at your personal
balance sheet – Do you know that you have more debt than you do assets? What
does this mean to you? Do you care?
Maybe you’ve never made a personal cash flow statement – Do you
know that you spend more money than you bring in? What does this mean to you?
Do you care?
Well…if you want to exploit your finances to exploit your
life, then you DO care!
You should care a lot if you want to meet your life priorities!!
The most difficult part of this exercise is being okay with
the outcome. At this point, it doesn’t matter if you’re in the red or spending more
then you’re making. It’s OKAY! We just want to know what’s
going on. Simply bringing self (financial) awareness!
(There are several useful web based tools for this
process. We currently use Mint.com.)
Balance Sheet
The balance sheet is merely your net worth.
A basic list of all your assets and all your liabilities
– with your net worth being the difference.
Assets may include your home value, car values, savings and
checking accounts, and retirement accounts.
Liabilities may include your home loan, car loan, student loan,
credit card balances, appliance loans, and loans from your retirement accounts.
It’s okay if your net worth is negative! We’re simply
trying to capture the data and come to terms with it. We have to be aware and
reflect, before we can conquer!
If you have a negative net worth, you are not alone! My wife
and I had a negative net worth of over $50,000 when we finally recognized our
financial issues. We had over $70,000 of debt!! We had a car loan, we each had
student loans, we had credit card debt , and we had a personal loan from
family. We even put our new washer and dryer on a credit card!
This debt was way more than the value of our simple list of
assets (a small IRA and our car). But we knew our priorities were worth the
realization – we came, we saw, we paid it off!
Cash Flow Statement
The cash flow statement is a reflection of how much money
you spend compared to what you earn.
A cash flow statement is similar to a budget, but it’s not
the same! This is a snapshot of where you stand on any given month, we’re
strictly tracking your spending. A budget is setting spending goals and is where
you want to be in the near future!!
List your income from your job (or possibly multiple jobs)
and list all of your expenses.
Food, rent or mortgage, utilities, clothes, drinks, gifts,
entertainment…the list of expenses is unending!
Again, we’re not focusing on whether you’re spending more
than you’re making. It’s OKAY! We’re focused on becoming aware of our money.
I’ve been in the red. I’ve spent more than I made. I was
living the American life – playing credit card games. I became aware!
We’ll work on ‘fixes’ in the next step.
Do you have your cash flow statement? How does it look? As
good as you expected?
Awareness
If you’re doing well financially, then you’ve probably
cruised right through this step. You’re feeling good and ready to start
exploiting your life!
If you’ve never taken a good, hard look at your finances
before, then you’re nauseous right now! You’re in shock!
Maybe you knew it was bad, but not this bad!
Welcome to awareness! Doesn’t it feel great?!
I know. My wife and I
came to the same realization once we started this process. Using Mint.com, we uploaded all of our
accounts and began tracking our monthly expenses. Then...we went completely numb
inside – that tingly, out-of-body experience when you know something is wrong..
We couldn’t believe that two grown, responsible adults, with great jobs, could be having so many financial problems. We weren’t doing anything different from everyone else! Why did our net worth look like this?!
We couldn’t believe that two grown, responsible adults, with great jobs, could be having so many financial problems. We weren’t doing anything different from everyone else! Why did our net worth look like this?!
Answer: Everyone we knew had the same financial
problems, but when everyone is doing the same thing, it’s not called a “problem”,
it’s called “normal”. Normal!
After the initial awareness paralysis wore off, we slowly
built up our resolve – this was never, EVER going to happen again. We reviewed
our priorities – that’s how we wanted to live! So we reversed course, and went down
our new path!
If you get discouraged in anyway during this process,
revisit Step One, Priorities. Continue to review your priorities until they’re meaningful
enough to outweigh any discouragement!
Are you aware?
Yours in exploiting life!
Quinn
Yours in exploiting life!
Quinn
Wednesday, June 4, 2014
Unexploited Finances: Step One, Priorities
Below is part one of a four step series on how to go about Exploiting Your Finances, Exploiting Your Life! (UPDATE: Find Part 2 here, Part 3 here, Part 4 here.)
The key to exploiting your finances, and subsequently exploiting your life, is setting your LIFE PRIORITIES.
Your life priorities will drive everything!
You’ll use them to motivate you through the difficult times. You’ll use them to shape your future. You’ll use them as your excuse for changing your financial habits – yes, excuses…you’ll have something to blame!
There’s no set list of life priorities that you have to choice from. You get to choose ANYTHING!
You can use priorities such as buying a new car, buying a new house, or taking a vacation.
(The more outlandish the priority, the more you may be motivated!)
My wife and I had a goal to pay off ALL of our debt (over $70,000) in two years. Without setting our priorities, there is no way (no way!) that we could have paid of our debt so fast. This was a crazy idea for us - we didn't know anyone else that was debt free!
Your priorities may motivate you to act, but this has to be something you really, really want!
A weak priority will fail you when you need it most. A weak priority will allow you to bend the rules, allow you to make an excuse, allow you to cheat!
Pick something that you’re passionate about! Something that you’ll want to tell the world you did! You’ll be so proud of accomplishing this goal that everything else will seem insignificant!
(Don’t worry, once complete, you’ll find even greater priorities…because you’ll know you can do it!)
Picking your priority should take some soul searching.
Spend some time picturing your ideal life. This is where you want your finances to take you.
Where do you live? Who and what are you surrounded by? What type of profession do you have?
Again, nothing is unrealistic at this point!
Trust me, I had no idea that I could be debt free – honestly, who doesn't have a car payment or student loans anymore – but here I am! I had no idea that I could take six vacations this year, and have all of them paid off before I returned home!
If you're married, or have a significant other, you'll definitely want to work with them on shared priorities. You may each have some individual goals, but shared priorities will help you both support one another and see amazing results!
Now, pick your top one or two priorities.
Do they have the strength to overrule any objections that you come up with?
Can they withstand your internal temptations?
How badly do you want this?
Wow! If you made it through those questions, sounds like one amazing priority at this point!
The key to exploiting your finances, and subsequently exploiting your life, is setting your LIFE PRIORITIES.
Your life priorities will drive everything!
You’ll use them to motivate you through the difficult times. You’ll use them to shape your future. You’ll use them as your excuse for changing your financial habits – yes, excuses…you’ll have something to blame!
Life Priorities
There’s no set list of life priorities that you have to choice from. You get to choose ANYTHING!
You can use priorities such as buying a new car, buying a new house, or taking a vacation.
Or you can choose priorities that may seem unrealistic –
such as taking six vacations a year, saving for a gap year, paying off all of
your debt!
(The more outlandish the priority, the more you may be motivated!)
My wife and I had a goal to pay off ALL of our debt (over $70,000) in two years. Without setting our priorities, there is no way (no way!) that we could have paid of our debt so fast. This was a crazy idea for us - we didn't know anyone else that was debt free!
Priorities motivate you to act.
Your priorities may motivate you to act, but this has to be something you really, really want!
A weak priority will fail you when you need it most. A weak priority will allow you to bend the rules, allow you to make an excuse, allow you to cheat!
Pick something that you’re passionate about! Something that you’ll want to tell the world you did! You’ll be so proud of accomplishing this goal that everything else will seem insignificant!
(Don’t worry, once complete, you’ll find even greater priorities…because you’ll know you can do it!)
How to set your priorities?
Picking your priority should take some soul searching.
Spend some time picturing your ideal life. This is where you want your finances to take you.
Where do you live? Who and what are you surrounded by? What type of profession do you have?
Again, nothing is unrealistic at this point!
Trust me, I had no idea that I could be debt free – honestly, who doesn't have a car payment or student loans anymore – but here I am! I had no idea that I could take six vacations this year, and have all of them paid off before I returned home!
If you're married, or have a significant other, you'll definitely want to work with them on shared priorities. You may each have some individual goals, but shared priorities will help you both support one another and see amazing results!
Now, pick your top one or two priorities.
Do they have the strength to overrule any objections that you come up with?
Can they withstand your internal temptations?
How badly do you want this?
Wow! If you made it through those questions, sounds like one amazing priority at this point!
What does this have to do with finances?
After selecting your life priorities, think about how your finances can help make this a reality.
Being debt free has an obvious correlation to your finances, but how about gaining more 'time'.
Why do you not have the time now? Answer: I work too many hours. Why do you work so many hours? Answer: I need to pay my bills. What bills do you have to pay? Answer: Home, utilities, debt, and food.
Might removing your debt (or lowering your other bills), remove your need for the current job, thereby giving you an opportunity to find a job where you can work less hours, and give you time to be with your family? Answer: Yes!!!!
Might removing your debt (or lowering your other bills), remove your need for the current job, thereby giving you an opportunity to find a job where you can work less hours, and give you time to be with your family? Answer: Yes!!!!
If you go through this exercise, you’ll find that money is the major obstacle for us to reach our priorities – which is obviously why we’re talking about exploiting your finances!
Have your priorities? Good!
This is the most important step in the process!
These priorities will drive you through the rest of the process. Get ready to Exploit Your Finances, Exploit Your Life!
Now, let’s move on to the next step…
Yours in exploiting life!
Quinn
Include others.
The more family and friends that you tell your priorities to, the more they will become real.
Yes, your family and friends may not believe it at first, but don’t worry, this is normal! We’re being different here, going down our own path!
Don't just tell them about your plans, tell them your successes and failures!
Not enough people talk about their priorities and their finances – keeping this hidden does nothing to help accomplish your goals!! Tell the world!
Yes, your family and friends may not believe it at first, but don’t worry, this is normal! We’re being different here, going down our own path!
Don't just tell them about your plans, tell them your successes and failures!
Not enough people talk about their priorities and their finances – keeping this hidden does nothing to help accomplish your goals!! Tell the world!
Write the priorities down somewhere in your home. Put reminders up – you’ll need the motivation!
I have a sticky note on my work computer with a countdown to our gap year. Every time I need a boost, I update the number of days left – this works wonders!
It’s hard, but doable!
I have a sticky note on my work computer with a countdown to our gap year. Every time I need a boost, I update the number of days left – this works wonders!
It’s hard, but doable!
Priorities are determined.
Have your priorities? Good!
This is the most important step in the process!
These priorities will drive you through the rest of the process. Get ready to Exploit Your Finances, Exploit Your Life!
Now, let’s move on to the next step…
Yours in exploiting life!
Quinn
Monday, June 2, 2014
What is Unexploited Finances?
ABOUT UNEXPLOITED FINANCES
Unexploited Finances is written for those individuals looking for another path...
Another path for your finances!
One where YOU are in control of your FUTURE...NOT your FINANCES!
One where YOU are in control of your LIFE...NOT your FINANCES!
Can you spend the rest of your life at a desk, living pay check to pay check, putting some money in retirement, buying a new car every few years, paying a 30-year mortgage, AND still be happy? Yes!
But there's also another path...
This new path is not without some extra effort on your part.
You'll have to work hard! You'll have to understand your money! You'll have to know your priorities!
BUT...
If you commit, then you'll be able to do amazing things with your life!
Be financially independent!
Be debt free!
Go on multiple vacations a year!
Take a Gap Year!
Work for yourself!
Pick and choose whether you'll let your next job hire you!
Save for an unconventional retirement!
All of this, using traditional tools but with a non-traditional mindset!
ANOTHER PATH
My wife and I are currently in the middle of our 'another path'.
We've paid off approximately $70,000 of debt in the past 3 years (student loans, car loan, personal loan, and credit card debt), while still exploiting life!
At the same time as paying off our debt, we took a two week trip to Thailand, took a week backpacking trip through the Grand Canyon, took a two week trip to Morocco, and weekend trips around the U.S.
All while still...
Working conventional jobs, saving for retirement, funding educational funds for family, and planning for our next adventures!
We weren't always following our own financial path, we were once stuck on the 'normal' route.
We purchased trivial items on credit, we planned traditional career paths, and we took our annual vacation.
As a financial designer, I know this makes sense for a lot of people. It works! It's easy!
But it wasn't working for us. We were unhappy, we needed a change.
So we made a change!
We TOOK CONTROL of our finances! And therefore, TOOK CONTROL of our lives!
We designed the life that we wanted, we made our finances work for us, and we're living the plan!
Yours in exploiting life!
Quinn
UPDATE: The basics of Unexploited Finance...Step 1, Step 2, Step 3, and Step 4.
Unexploited Finances is written for those individuals looking for another path...
Another path for your finances!
One where YOU are in control of your FUTURE...NOT your FINANCES!
One where YOU are in control of your LIFE...NOT your FINANCES!
Can you spend the rest of your life at a desk, living pay check to pay check, putting some money in retirement, buying a new car every few years, paying a 30-year mortgage, AND still be happy? Yes!
But there's also another path...
This new path is not without some extra effort on your part.
You'll have to work hard! You'll have to understand your money! You'll have to know your priorities!
BUT...
If you commit, then you'll be able to do amazing things with your life!
Be financially independent!
Be debt free!
Go on multiple vacations a year!
Take a Gap Year!
Work for yourself!
Pick and choose whether you'll let your next job hire you!
Save for an unconventional retirement!
All of this, using traditional tools but with a non-traditional mindset!
ANOTHER PATH
My wife and I are currently in the middle of our 'another path'.
We've paid off approximately $70,000 of debt in the past 3 years (student loans, car loan, personal loan, and credit card debt), while still exploiting life!
At the same time as paying off our debt, we took a two week trip to Thailand, took a week backpacking trip through the Grand Canyon, took a two week trip to Morocco, and weekend trips around the U.S.
All while still...
Working conventional jobs, saving for retirement, funding educational funds for family, and planning for our next adventures!
We weren't always following our own financial path, we were once stuck on the 'normal' route.
We purchased trivial items on credit, we planned traditional career paths, and we took our annual vacation.
As a financial designer, I know this makes sense for a lot of people. It works! It's easy!
But it wasn't working for us. We were unhappy, we needed a change.
So we made a change!
We TOOK CONTROL of our finances! And therefore, TOOK CONTROL of our lives!
We designed the life that we wanted, we made our finances work for us, and we're living the plan!
Yours in exploiting life!
Quinn
UPDATE: The basics of Unexploited Finance...Step 1, Step 2, Step 3, and Step 4.
Friday, May 23, 2014
Gas Price Creep in Portland
I was shocked when I saw the gas price at our local gas station...over $4.00 a gallon! For regular!
Usually when the gas prices go up, I've already prepared myself due to the numerous news articles. I must not have been paying much attention this time, because I haven't read any recent news on the rise!
Are we so use to the never-ending increase that we didn't notice? Or do we just not care?
Hey, I care! This costs money!
Portlanders have seen these same prices before, last summer. Maybe we're in a time warp and nobody thought we'd notice. But I've been accustomed to the winter prices for so long, that this is going to hurt!
In our house, we're very strict with our gas budget - with only one car and only one of us taking it to work, we can get away with $20 a week on gas! (I feel like this is ridiculously low, but I have no idea what anyone else spends.)
This doesn't count weekend activities or planned trips, but it's really nice on our weekly budget. More money for restaurants!
With prices near $4, we may have to make some adjustments! Everyone may have to make some adjustments! (Driving plans for Memorial Day?)
Something I've always wondered, at what price of gas will those large SUV drivers park the car? When will it hurt the wallet enough to say, "hey, maybe a medium sized SUV will be better."
Before drastic changes though, do some additional sleuthing. I went online and found a list of the cheapest prices in Portland.
At $0.35 less a gallon, I may change my route before I change my budget!
(I'm not sure if these are cash only, be warned...)
P.S. My favorite gas stations are Shell - not sure why I'm partial to them, but the ones I've been to have amazingly nice employees - but with prices starting at $3.89, they may lose me. Or that might be the cost of great customer service.
Do you factor in gas when budgeting? How much do you spend a week?
Yours in exploiting life!
Quinn
Usually when the gas prices go up, I've already prepared myself due to the numerous news articles. I must not have been paying much attention this time, because I haven't read any recent news on the rise!
Are we so use to the never-ending increase that we didn't notice? Or do we just not care?
Hey, I care! This costs money!
Portlanders have seen these same prices before, last summer. Maybe we're in a time warp and nobody thought we'd notice. But I've been accustomed to the winter prices for so long, that this is going to hurt!
In our house, we're very strict with our gas budget - with only one car and only one of us taking it to work, we can get away with $20 a week on gas! (I feel like this is ridiculously low, but I have no idea what anyone else spends.)
This doesn't count weekend activities or planned trips, but it's really nice on our weekly budget. More money for restaurants!
With prices near $4, we may have to make some adjustments! Everyone may have to make some adjustments! (Driving plans for Memorial Day?)
Something I've always wondered, at what price of gas will those large SUV drivers park the car? When will it hurt the wallet enough to say, "hey, maybe a medium sized SUV will be better."
Before drastic changes though, do some additional sleuthing. I went online and found a list of the cheapest prices in Portland.
At $0.35 less a gallon, I may change my route before I change my budget!
(I'm not sure if these are cash only, be warned...)
P.S. My favorite gas stations are Shell - not sure why I'm partial to them, but the ones I've been to have amazingly nice employees - but with prices starting at $3.89, they may lose me. Or that might be the cost of great customer service.
Do you factor in gas when budgeting? How much do you spend a week?
Yours in exploiting life!
Quinn
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