How To Haggle

We're all broke at the moment. Petrol's gone up by 25%, VAT's now at 20%, and food went up 4% last year compared to 2% the year before. As shoppers, we need to smarten up. Haggling's been around for centuries and it's time to take action!

Electrical goods
Check the online price first, as it's often less than in store. Armed with your evidence, ask the assistant in a friendly way if they can match the online price. If they say no, politely suggest that the manager might like to offer a discount. You could get up to 20% off this way. You could also check the prices in other stores. John Lewis and Asda, for example, offer to match prices in other stores, even sale and special offer prices.

Nights out
If you're booking a restaurant for at least six people for a special occasion, call the manager beforehand, say you're planning to splash out on bubbly for example, and ask if you can have a discount on the booze.

Or, when you're booking a private area of a bar or pub for a birthday or a work do, why not ask if you can have some nibbles thrown in? A few bowls of chips or peanuts isn't much to ask in return for a roomful of thirsty customers.

Department stores
At the make-up counter, ask if there's a discount for buying more than one item.

If they say no, ask if there's anything else they can offer - you might get some free samples. Or try buying online instead.

High-street shops
If you're buying two big items, two pairs of jeans for example, ask the assistant if a discount is possible, as the jeans are so perfect. She'll probably get the manager, but stand your ground. They may offer 10% and you could push them up to 20%.

Hire cars
Don't accept the first price. Hire car companies are often grouped together geographically, and are used to fighting each other for custom. Ring and ask for a quote, and hesitate when they tell you the price. Tell them you'll ring round and call back, and they may reduce their price!

Hotel rooms
February is the low season for hotels. Ask for the best price, and if it's still too much, say you'll go to the Premier Inn for £80. The manager might climb down pretty quickly.

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Become Debt Free in 2011

Being in debt is not a good place to be. Psychologists maintain that debts cause anxiety, lowers performance and induces low self esteem. You may look rich, talk rich, walk rich but deep down inside, you know you are anything but rich. Being in debt simply means spending tomorrow’s money today. Debt mortgages your financial future, reduces your current cash flow and puts unnecessary pressure on your financials, often rendering you incapable of making decisions that will put you back in control of your finances. The debtor is a slave to the lender, so goes ancient words of wisdom. Financial freedom also means freedom from debt. Getting out of debt is one of the first key steps in the journey to financial freedom.

In the world of personal finance, there are two types of debts – good debts and bad debts. Good debts make you richer while bad debts make you poorer. Most people are used to bad debts than good debts.

Good debts are debts incurred in acquisition of assets, investment that generate a net positive cash flow, that is money in your pocket. What this means is that the asset ultimately pays for itself and sends a tidy profit in the direction of your pocket. If an investment leaves you out of pocket, and you need to keep spending to keep it, it is a liability. An earlier article – Assets and Liabilities Definition for Everyday Folks deals with the difference between assets and liability from a financial freedom or rich perspective.

A key point to repeat here is that more often than not, it is not the item or investment itself that is an asset or liability. It is the investor that is the asset or liability. Tom can take an investment and generate net positive cash flow while Dick takes the same investment and turns it into a money loser. Lets say investment property. It is the management team that is the asset or liability. One team can run it down while another team take same property to the next level.

In Nigeria, due to the absence of securities regulations categorizing investors, every Tom, Dick and Harry had access to private placements, initial public offers and margin loans just before the global financial meltdown. This opened the floodgates for inexperienced investors to take the Nigerian Stock market by storm. Margin loans were extended to all comers to buy stocks they knew nothing about and take risks way beyond the limits of their risk tolerance. Financial illiterates took millions of Naira position in stocks hoping to cash in on the never ending bull run. The rest, as they say is history.

Debt is a razor sharp two-edged sword. Because you think something is an asset does not make it one. If you cannot manage it and turn it into an asset, stay well clear until you do (see Invest in Your Personal Financial Acumen). Investing is not an all comers affair. Like surgery, you have to go to medical school, practice on cadavers before you take the plunge to do the real thing.

So good debt is when an experienced investor (stock, real estate, business, commodities etc) uses other people’s money to make more money.

Bad debt is everything else. Consumer debts, buying liabilities thinking they are assets etc. You have a bad debt when you give money to an inexperienced investor to invest for you.

Consumer debt is the biggest culprit. The item depreciates the moment money leaves your hands, right at the check out. It becomes previously owned or second hand instantly. The saddest part is that most of the stuff we spend good money on eventually end up not being used and are given away or end up in the thrash (cash to thrash).

You have to make a quality decision to be debt free in 2011. You have been carrying this weight for far too long. It is time you shake it off and take charge of your financial future for a change. In Part 2, we will look at ways of getting out of debt.

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Low Self Esteem Symptoms

Do you think you, or someone you know, may have low self esteem? Are you a little unsure if it is low self esteem, low self confidence, or anxiety or depression?

The following low self esteem symptoms may help you decide if it is your self esteem which should be worked on, or another area of development.

If you think someone else may suffer from low self esteem, it may be best to show them this article, and let them figure it out for themselves, rather than try and push your opinions on them. Having said that, some people do need a nudge in the right direction so it is about finding a balance.

Low self esteem symptoms may include the following:

Complaining and blaming others: People with low self esteem often feel their misfortune is someone/something else’s fault and life has dealt them a bad hand. This means they do not assume any responsibility. Yes, bad things will happen in life but you are responsible for how you handle them. Taking responsibility can be scary but is a sign of a self assured person.

Start to notice every time you complain or blame (it can easily become a habit and be done without even noticing). Have a look at the situation and do something constructive or proactive to change it. Or shut up about it!!

Need for external validation: People with low self esteem place their feelings in the hands of others – if they receive praise, they feel good (although this is only temporary). If they receive criticism or someone disagrees with them, they feel terrible. For this reason, avoidance of any conflict is a classic low self esteem symptom.

If this is the case for you, start to base your feelings on how YOU feel…..remember everyone’s opinions are different so what one person will praise, another will criticise – basing your feelings on this will just lead to confusion and a roller coaster of emotions. It can be hard to establish your exact feelings but it will become easier as your self esteem becomes higher. Set your own (realistic) standards and base your feelings on how well you are meeting these, rather than trying to meet other peoples standards.

Difficulty asserting oneself and saying no: Because of a need for validation and acceptance from others, people with low self esteem tend to be ‘people pleasers.’ Their own wants, needs and desires come secondary which sends self esteem plummeting further. Have a look at How to Say No, for tips on assertiveness.

See the negatives, discount the positives: Whether this is related to oneself – physically or mentally, external situations or other people, those with low self esteem tend to be pessimistic. They overlook all the good things about themselves, yet highlight the things which need work.

If you have this trait, begin to change it – as soon as you notice you are saying or thinking something negative, reframe the situation and put a positive spin on things. Imagine yourself as a politician – they can make anything sound good!! This negative talk is a habit…it will take some effort to turn around but it is perfectly possible to reverse the habit and make your natural way of thinking more positive.

Addictions: Drugs, alcohol, shopping, sex, chocolate, gambling….addictions give that short term boost which gives a false sense of happiness and self esteem. They also offer something to complain about and an excuse for not dealing with the underlying issues. It may be at a subconscious level – simply wanting to avoid awkward or insecure feeling leads to repeating the addictive behaviour.

Depending on the addiction, you may need to seek professional help, but simply realising there is a reason for the addiction is a step in the right direction. Acknowledge your inner feelings and express things openly – if you are angry or frustrated, be angry or frustrated, don’t bottle things up. As you become more able to voice your feelings, there will be less need for a distraction and the addiction will be easier to overcome.

Living anywhere but now: Regretting or feeling guilty about the past and worrying about the future is generally a low self esteem symptom. Because people with low self esteem do not feel they deserve happiness in this moment, their emotions and energies go elsewhere in time.

At anyone time, always focus on what you are doing, find the joy in every moment. Have a look at The Vicious Circle of Guilt, Low Self Confidence and Unhappiness and How to Overcome Guilt and Move On if you live in the past.

Low self esteem is not a lifetime state – if you recognise any of the above low self esteem symptoms, don’t worry, simply recognise you may be able to improve your self esteem and make a plan to work towards it.

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BofA to spin off $5 billion private equity unit

(Reuters) - Bank of America Corp (BAC.N) plans to spin off its last large private equity fund, with more than $5 billion in assets, and has no plans to make new private equity investments, a company spokesman said on Tuesday.

Bank of America, the largest U.S. bank by assets, will spin off BAML Capital Partners into its own unnamed firm.

The firm would then manage the bank's private equity assets for a fee -- winding those positions down over time -- and could begin accepting outside investors.

The assets will remain on BofA's balance sheet until they are wound down.

Company spokesman Jerry Dubrowski said BofA determined the business was "not strategically critical to customers and our clients" and the decision was made to spin off the unit.

Dubrowski said the head of the new firm had not yet been announced, and it was not immediately clear the number of employees that would move to the new firm.

The spin-off is the latest in a series of moves by the bank to comply with the Volcker Rule, a part of the financial regulatory overhaul law passed in 2010 that limits proprietary trading, or investments by banks using their own capital. It also fits with Chief Executive Brian Moynihan's efforts to sell off extraneous business units.

In 2010, the bank spun off Banc of America Capital Investors, a $1.4 billion private equity group to form Ridgemont Equity Partners, under a similar structure.

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Japan eyes sales tax rise to pay for post-quake rebuild

(Reuters) - Japanese consumers may have to help foot the reconstruction bill after last month's earthquake and tsunami caused $300 billion of damage, further burdening the hugely indebted economy, a newspaper said on Tuesday.

It would be the first increase since 1997, though a sales tax hike had been the subject of fierce political debate before the earthquake struck as one way for Japan to dig itself out of its massive debt.

The government is considering raising the tax by 3 percentage points to 8 percent when the new fiscal year starts next April, the Yomiuri newspaper reported.

"It was clear even before this disaster and the need to secure funds for reconstruction that to ensure a sustainable fiscal situation, some sort of reform of spending and revenues was necessary," said Internal Affairs Minister Yoshiro Katayama.

"The debate over the fiscal situation is not something that began with this disaster," he told reporters.

The government hopes to avoid issuing new bonds to fund an initial emergency budget, expected to be worth about 4 trillion yen ($48 billion), due to be compiled this month.

But bond issuance is likely for subsequent extra budgets which will only make it harder for Japan to rein in its debt, already running at twice the size of the $5 trillion economy.

The mood among consumers about the prospects for jobs and incomes darkened in March after the quake, a Cabinet Office survey showed.

Though the triple disasters of quake, tsunami and nuclear crisis are bad news for the Japanese economy, the damage is not expected to spill over across the region.

The Asian Development Bank's chief economist said he saw little sign of a serious negative impact on other Asian economies.

The government says it has not yet decided how to fund the rebuilding cost but the Yomiuri said it had ruled out raising income and corporate taxes.

"I am aware that the Democratic Party is considering various methods, including this (tax rise). But the government is not considering any specific funding methods at this stage," top government spokesman Yukio Edano told a news conference.

Katsuya Okada, secretary-general of the ruling Democratic Party (DPJ), said on Sunday taxes had to rise to repay new government bonds that will be needed to pay for reconstruction.

A poll by the Nikkei business daily showed about 70 percent of Japanese voters would support a tax hike, but want unpopular Prime Minister Naoto Kan to be replaced.

IMPACT OF NUCLEAR CRISIS

As well as trying to deal with the consequences of quake and tsunami which killed at least 13,000 and left tens of thousands homeless, Japan is struggling to control the Fukushima Daiichi nuclear power plant that began leaking radiation when it was nearly destroyed by the natural disasters.

NHK state television said police statistics from hard-hit Iwate Prefecture found drowning caused 92 percent of the deaths and that more than two-thirds of victims were over 60 years old.

Plant operator Tokyo Electric Power (TEPCO) said it had started removing highly contaminated water from one of the reactors, a key step to repair the cooling system that regulates the temperature of radioactive fuel rods.

It wants a "cold shutdown" of the plant in six to nine months, setting a timeframe for bringing the world's worst nuclear crisis in 25 years under control.

French nuclear plant maker Areva said it had agreed with TEPCO to provide a water treatment plant that uses a process called "co-precipitation" -- which isolates and removes radioactive elements from water -- to speed up decontamination of the Fukushima site.

"We have much experience of decontamination . we are ready to put it at the disposal of the Japanese government," Areva Chief Executive Anne Lauvergeon told reporters in Tokyo.

She said TEPCO is hoping to begin the water treatment before the end of May, but she did not know when was feasible. Areva would "try to do this as soon as possible," Lauvergeon added.

The damage to Fukushima Daiichi, and the shutdown of other nuclear power plants, has caused power outages that exacerbate the disruption to manufacturing supply chains and overall economic activity.

Toshiba has cut its 2010/11 operating profit estimate, blaming the disaster. Earnings at cellphone venture Sony Ericsson, due later, were expected to shed light on the size of the earthquake's impact on the cellphone industry.

Chip maker Texas Instruments warned of slower-than-usual quarterly sales growth as it scrambles to restart production after the quake, and said it was unclear when the supply of the silicon and wafers it needs will return to normal.

Japanese corporate confidence plunged by a record amount in April and is seen worsening further, a Reuters poll showed last week.

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Yahoo earnings beat estimates, sales fall

SAN FRANCISCO (MarketWatch) — Yahoo Inc. on Tuesday reported a smaller-than-forecast decline in quarterly profit, as the Internet search and advertising company presses ahead with an ongoing turnaround effort.

Yahoo’s earnings for the first quarter beat Wall Street estimates, and its shares of rose more than 2% in after-hours trading, following the report.
Sprint looks to share network

Sprint Nextel is in advanced talks to rent space on its wireless network to start-ups LightSquared and Clearwire, a move driven by consolidation and cost-cutting. Spencer Ante reports.

Yahoo YHOO +3.47% said net income fell to $223 million, or 17 cents a share, compared to $310.2 million, or 22 cents a share, in the same quarter last year. The Sunnyvale, Calif., firm said net revenue for the period ended March 31 fell 6% to $1.06 billion.

Yahoo’s first-quarter earnings included an impairment charge of 2 cents a share related to Yahoo Japan, the company said.

The results also compare to a year-earlier period when Yahoo’s earnings were boosted by its sale of the Zimbra email service, and its search partnership with Microsoft Corp.

Analysts polled by FactSet Research had expected Yahoo to report first-quarter earnings of 16 cents a share and $1.05 billion in net revenue.

For the second quarter, the company said it expects revenue excluding traffic acquisition costs to come in the range of $1.08 billion to $1.13 billion. Analysts had been expecting $1.1 billion for the period.

“Our turnaround is proceeding on schedule, and we are very confident that Yahoo is headed in the right direction,” Chief Executive Carol Bartz said during a conference call with analysts.

Bartz pointed to various “proof points,” including the increase that Yahoo saw in online display advertising revenue during the quarter.

Yahoo hired Bartz in 2009 to reboot the embattled company. The CEO has sought to streamline operations and has set a target of reaching a 24% operating margin by 2013. Yahoo said Tuesday that its operating margin excluding the cost of acquiring traffic stands at 18%.

Bartz has also sealed a partnership with Microsoft MSFT +1.19% that has Microsoft powering Yahoo’s search results in a revenue-sharing arrangement.

But in January, Yahoo cautioned that it likely won’t see a significant benefit from the Microsoft partnership in terms of revenue-per-search until the second half of this year, due to “bumps in the road” encountered as the companies align their operations.

Bartz said Tuesday that problems encountered in combining with Microsoft’s search-advertising technology have continued. As a result, Bartz said Yahoo would hold off on moving more of its geographical markets outside the U.S. over to Microsoft’s search advertising technology this year, until the companies “get this thing back to where it needs to be” in terms of revenue growth.

In particular, Bartz said that “as it turns out,” Microsoft’s technology does a poor job of predicting performance for some search advertisers that don’t have a history on their system. Therefore, “many of the new advertisers can’t even get their campaigns in,” she said.

Yahoo said that its gross search advertising revenue fell to $455.1 million in the first quarter, from $841.2 million in the same quarter last year.

Analysts had been anticipating a significant decline in Yahoo’s search advertising revenue.

Yahoo said that gross revenue from online display advertising, a market in which it has long enjoyed a more solid footing, rose to $522.6 million, from $491 million — a 6% increase.

Analysts had been expecting display-advertising revenue growth in the quarter of slightly less than 10%.

Bartz said that Yahoo enjoyed particularly strong interest in its news blogs, and original Web video content. The CEO said that Yahoo’s video advertising still makes up a relatively small part of its total revenue, though it’s “the fastest growing part.”

Yahoo said Tuesday that its total cash, equivalents and marketable securities on hand as of March 31 fell by $101 million compared to Dec. 31, to $3.5 billion.

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Gold Tops $1,500 on Outlook for Escalating U.S. Debt, Dollar

Gold futures rose to a record $1,500.50 an ounce as U.S. debt concerns weighed on the dollar, boosting demand for the precious metal as an alternative investment. Silver surged to a 1980 high.

The greenback dropped against the euro on speculation that the European Central Bank will continue to raise borrowing costs as some nations struggle to contain sovereign debt. Standard & Poor’s yesterday revised its long-term outlook on U.S. debt to negative from stable. Gold has climbed 32 percent in the past year, and silver prices have more than doubled.

“The U.S. credit rating will undoubtedly be lowered in the next few years,” said Michael Pento, a senior economist at Euro Pacific Capital in New York. “This will mean much higher borrowing costs and a much lower currency. International investors have been using gold and silver as an alternative currency and an alternative to the dollar, and this will only exacerbate and accelerate that process.”

Gold futures for June delivery rose $2.20, or 0.1 percent, to settle at $1,495.10 at 1:38 p.m. on the Comex in New York. Earlier, the price climbed as much as 0.5 percent to the record.

Gold for immediately delivery rose $1.97 to $1,497.27 at 3:49 p.m. New York time. Earlier, the price gained as much as 0.3 percent to an all-time high of $1,499.32.
Silver Climbs

Silver climbed as much as 2.8 percent to $44.175 in after- hours trading. The most-active contract settled up 95.7 cents, or 2.2 percent, to close at $43.913 an ounce.

“Silver is like gold on steroids,” said Jon Nadler, an analyst at Kitco Inc. in Montreal.

Euro Pacific’s Pento, who correctly predicted gold’s rally in the past three years, said the metal will reach $1,600 in 2011. The commodity has gained every year since 2001 on increased investment demand for raw materials.

“The bullish trend becomes pronounced as more and more people get out of the dollar to buy hard assets,” said Lim Chae Myung, a Seoul-based trader with Hyundai Futures Co.

The Treasury Department projected that the government may reach the $14.3 trillion debt-ceiling limit as soon as mid-May and run out of options for avoiding default by early July.

The Federal Reserve has kept its benchmark interest rate at zero percent to 0.25 percent since December 2008 and has pledged to buy $600 billion in Treasuries through June to stimulate growth.

The ECB this month raised its main rate to 1.25 percent from a record 1 percent to stem inflation.

The Fed probably won’t risk damping economic growth by raising borrowing costs rapidly, Pento said.

S&P changed its long-term rating, citing “material risk” that policy makers won’t reach an accord on “medium- and long- term budgetary challenges.”

“There certainly has always been that lingering concern over U.S. debt and the S&P people are finally identifying the threat,” said Stephen Platt, an analyst at Archer Financial in Chicago. “The world is awash in liquidity. Gold’s slow, grinding action upward shows the deterioration in the dollar, excess liquidity and deficit problems are still in force.”

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Do you think you will be rich one day?

In this land of opportunity, Americans may believe that it's harder to get rich than it used to be. But when asked about the likelihood of getting rich personally, one-third say it's very or somewhat likely that they will attain wealth because of their work, investments, inheritance or good luck.

On the other hand, six out of 10 (63 percent) say it's not too or not at all likely they'll get rich. Just 2 percent volunteered that they're already rich.

Bankrate commissioned Princeton Survey Research Associates International to explore how people feel about their chances for prosperity, as well as how they define wealth and their motivations for pursuing it.

Hope springs eternal -- for the young. More than half of those aged 18 to 29 (54 percent), believe they will get rich. Meanwhile, cynicism sets in with the passage of time. Only 34 percent of respondents in the 30 to 49 age range believe they will be rich, while one out of five (21 percent) in the 50-plus age group think so.
How would you define rich?
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What is rich, anyway?
Most people don't equate wealth with a yacht in the Mediterranean and a house on every continent. A meager 7 percent of respondents define "rich" by possessions such as houses, cars and boats.

Instead, rich means having just enough money not to worry, to at least one-third of Americans (33 percent), according to the survey. That's a subjective definition that varies with lifestyle and attitude. Another 26 percent define rich as having enough money to quit their jobs.

"I think there is a paradox about it. People could live smaller than they do. There are a lot of McMansion inhabitants who could do that if they wanted to, but they slide on the golden handcuffs, and that is part of what keeps you from feeling rich," says Peter Rodriguez, associate professor of business administration at the University of Virginia's Darden School of Business.

Few people put a dollar amount on the definition of wealth. Just 17 percent say that being rich means having a net worth of $1 million or more, and 11 percent say that a six-figure annual income makes someone rich.

Most people who are rich don't even consider themselves rich. It's a relational feeling, says Rodriguez.

"For example, you take someone who has been earning $40,000 a year and bump them up to $100,000 -- they feel rich. Even if they increase their lifestyle, they don't have to worry about their old bills anymore. But if you take someone who is making $150,000, they feel poor unless they make $300,000," he says.
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How to get rich
One-fifth of Americans (20 percent) believe that starting your own business is the most likely way for someone to get rich today.

History supports that assumption. Most self-made millionaires are small business owners, says Greg McBride, Bankrate.com's senior financial analyst.

Choosing a high-paying job or career comes in second (19 percent) as the most likely path to getting rich.

Unfortunately for most people, having a high-paying job is the ticket to an expensive lifestyle and nothing more lasting, says Todd Tresidder, a financial coach at FinancialMentor.com and self-made millionaire.

Surprisingly, just 9 percent of survey respondents say real estate investments offer a likely path to wealth. Though real estate investors have gotten creamed in the past year, it's been a major moneymaker for some over the years, though it's by no means a sure thing. Plenty of people go bankrupt in real estate.
What is the most likely way for someone to get rich?

What motivates you the most to obtain prosperity?

"You do have to have deep pockets to play the game," says Dan Danford, principal and chief executive officer of the Family Investment Center in St. Joseph, Mo.

It offers a couple of advantages. For one, you can leverage the investment which dramatically increases the return or magnifies the loss.

"The research shows that owning your own business and real estate are two of the most common paths to achieving wealth and financial security. There is a reason for that. Owning your own business and real estate have two principles: They have leverage and tax advantages," says Tresidder.

Surprisingly, 15 percent of people say that getting lucky via the lottery or an inheritance is the most likely road to riches, while 15 percent point to living frugally and saving money as best.

Though living frugally may not have you living like a Rockefeller, it's a more likely route to wealth than winning the lottery.

"Living frugally and saving money are helpful, sure, but winning the lottery isn't even a plan. That's called hope," says Tresidder.
Motivations for attaining wealth
Despite what advertising messages might convey, most people are not motivated to pursue wealth for material reasons. Only 11 percent of those surveyed say they want to be rich to afford material things and pursue leisure activities.

Instead 41 percent of Americans wish to obtain personal prosperity so they can provide a better life and future for their children.

Statistically, only a small fraction of the population will ever be truly rich. Americans sometimes sabotage themselves or are too anxious about current economic conditions to take steps toward prosperity. Danford has a fatalistic point of view when it comes to getting rich.

"I work with a broad spectrum of people, and one of the truisms I've come up with is: People who have money will always have money and people who don't (have money) won't ever have money."

The majority of Americans appear to agree, according to our poll. But optimism prevails with at least a third of Americans who aspire to be wealthy.

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Not everyone thrives in the typical office environment.

The vast expanses of utilitarian cubicle farms are best left to those whose personalities jibe more with logical and structural tasks as opposed to those who lean toward the visual and intuitive, says Judith Gerberg, a New York City-based career development expert and head of Gerberg & Co.

You're likely a good fit for an offbeat type of job if you're more driven by self-expression, can work independently and are more holistic by nature, she says.

Offbeat jobs can range from relatively benign pursuits, such as acting and software engineering, to hazardous occupations, such as commercial fishing and aerospace operations.

Gerberg recommends that you thoroughly assess your skills and the demand for them before setting out to pursue an off-the-beaten-path career because competition for some of these jobs is intense.

"I think that to pursue an odd or risky way of earning a living, you do have to have something that you are passionate about, something that you'll do no matter what and something that is needed and wanted," she says.
Extraordinary vocations

Cell biologist
Alaskan crab fishing
Intelligence officer
Candy manufacturer
Peace Corps volunteer

Cell biologist
Mike Kiledjian, who has a doctorate in molecular biology, is one of many scientists pushing the edge of the genetic envelope to find cures for human diseases.

He says his interest in research started in high school and evolved into an interest in gene expression -- the process by which genes are switched on and off.

Today, the professor of cell biology and neuroscience at Rutgers University in New Brunswick, N.J., leads a team of investigators searching for a drug treatment for a disease known as spinal muscular atrophy, or SMA. It is a leading cause of hereditary infant death in the United States, occurring once in every 6,000 births, according to the Centers for Disease Control and Prevention.

"It's an extremely challenging job, and you're answering questions that really have no answers until you address them, so that's pretty exciting and rewarding if you can answer them," Kiledjian says.

But for every breakthrough there are hundreds of frustrating dead ends. "You can't be easily discouraged because there are many failed experiments, and you have to learn from them and improve on them to get an experiment to work, and hopefully (it will) give you a reliable result," he says.

You have to be patient enough to hang in there until your "eureka moment" arrives, says Kiledjian.

His team identified a scavenger enzyme in 2002 known as DcpS that suppresses a beneficial protein known as SMN. The compound his team is working with inhibits the action of DcpS and may provide some relief to those who suffer from SMA.

What they do: Study the physiology, components and the life/death cycle of cells as they relate to their environment.

Pros: Work can lead to breakthroughs in finding cures for human diseases.

Cons: Requires patience and persistence to deal with setbacks, which are common.

Education required: Bachelor's degree for basic research positions up to Ph.D. for lead researchers and university-level teaching.

Salary range: According to Salary.com, the average is $45,859 for a junior level biologist to $103,030 for a Ph.D. level, depending on experience and regional markets.

A job that's good for: People who enjoy working in a laboratory setting, are adept at solving puzzle-like problems and are very tolerant of failure.

Alaskan crab fishing
Next time you snap open a king crab claw, think about the people who brave some of the world's harshest working conditions to bring these scary-looking but tasty ocean crustaceans to your table.

The industry, like the quarry it pursues, is huge in Alaska.

Some 80,000 jobs in the state are related to commercial fishing, according to John Hilsinger, director of the Alaska Department of Fish and Game's Commercial Fisheries Division.

Those drawn to the rugged wilderness of Alaska and the seasonal work schedule of Alaskan crab fishers often earn lucrative pay, but not without great physical exertion.

Work on the Bering Sea, where the fishing takes place, is grueling and dangerous, and unless you have significant at-sea experience, you can easily find yourself facing a life-threatening situation on the open ocean in the middle of winter -- the height of the king crab season.

Weather conditions on the Bering Sea can change rapidly, and waves as tall as two-story buildings are common.

Still, crew members are not in short supply despite the industry's high occupational fatality rate.

"I think it attracts people who are independent-minded and who are not interested in punching a time clock," Hilsinger says. "They like to work outdoors and sometimes make big incomes. Plus there's an element of excitement and risk to it."

The king crab season typically lasts for only two months.

Experienced crewmembers working on top-producing boats often earn a decent percentage of the season's catch with the captain and other senior crewmembers taking home the largest percentage after expenses.

Inexperienced deckhands, or greenhorns, earn substantially less and are often paid a day rate, according to Hilsinger.

What they do: Fish for one of three king crab species in addition to opilio and snow crabs.

Pros: Potentially high wages earned in a short amount of time. During the off-season, crewmembers can fish for other species such as salmon to supplement their incomes.

Cons: The work is extremely dangerous, hours are long and work conditions can be brutal. In addition, crewmembers are responsible for buying their own boots, coats and survival gear, which can cost hundreds or thousands of dollars.

Education required: No formal education is required, although substantial experience working on a commercial fishing vessel is recommended.

Salary range: Boat captains can earn around 15 percent after expenses; engineers and other senior crew may earn 7 to 7.5 percent; inexperienced crewmembers may earn 2 to 3 percent of the season's catch. In terms of dollars, experienced crew members can earn between $15,000 and $40,000 during the short two-month season, according to estimates by Forrest Bowers, a fisheries biologist based in Dutch Harbor, Alaska.

A job that's good for: Those who like working outdoors and do not like prescribed work schedules.

Intelligence officer
If you think the federal government doesn't hire people to fill off-the-beaten path jobs, think again.

The U.S. intelligence community, which consists of 16 acknowledged civilian and military agencies, has long been glamorized by actors Harrison Ford, Ben Affleck and Jake Gyllenhaal, who portray the lives of stoic field operatives.

But what most people don't know is that organizations such as the Central Intelligence Agency -- possibly the best known of the 16 agencies -- also actively recruit personnel for roles beyond the National Clandestine Service for which the CIA is best known.

Well-paying jobs as language instructors, information technology specialists, cartographers and even graphic designers are available to qualified job seekers.

A recent survey of the agency's Web site revealed a job posting for an electronic publishing specialist, otherwise known as a desktop publisher, that pays between $45,639 and $79,248 to start. It requires only an associates degree and is based in the U.S.

"All of our directorates are hiring," says Marie E. Harf, a spokesperson with the CIA's Office of Public Affairs in Washington. "We're looking for a wide range of skill sets to fill positions with the agency."

Harf says people who work as intelligence officers come from diverse backgrounds and have unique skills, but all have the highest standards of character and are motivated by a desire to serve their country.

The lengthy application process can be a turnoff for some job seekers, since background checks can take a year or longer.

What they do: CIA agents essentially act as the eyes and ears of the president in collecting and analyzing information relating to national security. Officers serve both in the United States and abroad.

Pros: It is a meaningful and well-paying job with excellent job security. Those who leave government service to pursue civilian work have clout. Many government contractor jobs, for example, require civilian employees to obtain security clearance.

Cons: Competition for all positions is fierce. The application process is complicated, lengthy and includes taking a polygraph test. Relocation to the Washington, D.C. area is required for most support positions.

Education required: Bachelor's degrees are standard for most positions, and advanced degrees are highly sought after but not necessary for all positions. Some positions only require an associates degree or relevant training.

Salary range: Foreign language instructors earn $55,512 to $95,026, fitness specialists who train agency operatives earn $50,408 to $79,280 and graphic designers with interactive multimedia emphasis earn between $48,682 and $95,026, although the Agency says they can earn more depending on experience.

A job that's good for: People who are interested in federal service and who don't mind working within a rigid organization.

Candy manufacturer
Amanda Jones ditched her 9-to-5 job a few years ago to make fudge.

She now works up to seven days a week as head of Brooklyn Fudge in Brooklyn, N.Y., and although she now works a lot more than she used to, she wouldn't trade her job for any other.

"I worked for corporate America for a long time and made a lot of money there, but I didn't really feel like what I did mattered," Jones says.

The native Virginian says that she was always inspired by her Aunt Mae's southern cooking and found that it relaxed her to re-create her aunt's recipes.

It was that combination that coaxed Jones out of the cubicle and into her kitchen where she initially started the business.

"I started playing around with my aunt's fudge recipe because it was something I enjoyed doing and before I knew it, I had 40 pounds of it so I started trying to educate myself on how I would go about selling it," she says.

Since 2006, when Jones first started selling her handmade confections at local craft fairs, the business has evolved to the point where she now fields orders from international clients and is looking for ways to improve packaging and shelf life.

Her uncanny ability to tinker around with flavors enables her to offer a product lineup that ranges from the relatively safe to the sublime. Standards include pecan and cinnamon-almond and seasonal varieties like blueberry vodka, pumpkin pie and absinthe.

What they do: Produce, package and market sweets for the retail and corporate markets.

Pros: You get to produce a product that most people find pleasurable to consume.

Cons: You may have to wear several hats until you can hire employees. You have to work according to your production and marketing goals and customer demand for your product.

Education required: A basic affinity for cooking and culinary background is recommended as well as knowledge of FDA labeling requirements.

Salary range: Net profits vary with $40,000 to $50,000 per year on the low end, according to Jones. Based on her current pricing structure, Jones should have grossed about $1,120 from her initial 40-pound batch. She anticipates a much higher income going forward. "I think the goal is to become a million-dollar company."

Who this job is good for: People who enjoy cooking or baking and interacting with customers and suppliers.

Peace Corps volunteer
When David Leavitt graduated from the University of Denver in the mid-1980s with an accounting degree, he likely could have found a well-paying corporate job.

Instead, he dreamed of overseas adventure and became a Peace Corps volunteer, teaching business skills to locals in the Dominican Republic.

Leavitt was interested in doing international development work and saw the Peace Corps as the perfect vehicle to get relevant experience. Today, he is a public affairs specialist for the Peace Corps' Southeast regional office in Atlanta.

The Peace Corps does not pay a salary, and volunteers are required to commit 27 months of their lives. Leavitt says the value of the experience transcends salary and really provides career benefits long past the two-year commitment.

"The real value there is that (volunteers) have developed language skills, they have developed cultural sensitivity and they have more of a world view which is an important asset both in the public and private sectors," he says.

Volunteers who stay in the Peace Corps for two years qualify for one year of non-competitive eligibility, says Leavitt. That means a federal agency can hire you without even advertising the position. Many times, federal agencies call Leavitt to see if he can refer a recent volunteer to fill a position.

"That's a huge advantage to get into the federal service because it is hyper-competitive," he says.

What they do: Volunteers work in foreign countries assisting local communities with education, youth outreach, business development, agriculture, health and information technology related issues, etc.

Pros: Special eligibility for federal jobs when you return home. Camaraderie of being with a group of like-minded Americans. No upper age limit. Minimum age is 18. Full medical coverage during service. Student loan deferment. Compensation of $6,000 upon completion of service. Forty-eight vacation days over two years. Perkins loans are eligible for a partial cancellation benefit.

Cons: Twenty-seven-month commitment. Isolation from family and friends. Potential for political instability, depending on country assigned. Could contract illnesses while on duty.

Education required: Formal education not necessary, although certain educational degrees such as agriculture, business and information technology are favored. Practical business experience is also acceptable in lieu of education.

A job that's good for: People in certain in-demand backgrounds such as agriculture and education. Also, people who have a curiosity about foreign cultures and a desire to help them.

Salary: Volunteer positions do not pay, although staff positions can be competitive depending on job title. Administrative officers serving overseas, for example, can earn between $42,314 and $76,688 to start. A regional recruiter serving in Los Angeles can earn between $42,782 and $51,083 to start. An occupational health nurse serving in Washington earns between $64,284 and $94,403.

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Money management 101

From the middle class to millionaires, everyone feels a few dollars short of comfort at times. But more money won't necessarily solve financial difficulties.

Developing strong money management skills can help you use the money you have today to live the life you want. Plus, when your ship does come in -- the great job, the winning lottery ticket or the inheritance from rich Uncle Bob -- you'll know how to handle it.

"People need to have a plan for their money," says Steve Bucci, Bankrate's debt adviser and president of Money Management International Financial Education Foundation. "If you don't have a plan and the other person does have a plan, they're going to win because they have the discipline, goal and desire and you're just sort of playing by ear."

And who is the other person? Marketers, says Bucci, who also authored "Credit Repair Kit for Dummies."

It's not your imagination; people are out to get you -- or at least your money. Being prepared will help you counter the very real forces out there that want you to spend, spend, spend.
Savings strategies

Set goals
Track spending
Automate savings
Prepare a budget
Change behavior
Borrow wisely
Prioritize bills

1. Set goals
Not all superfluous spending goes to shiny new toys and baubles. Money can be easily frittered away via expensive cable packages or restaurant meals, to name a couple of examples.

Setting goals provides a mechanism for overriding the impulse to buy things that are not as important.

"People don't often associate spending plans with dreaming, but if you do it right, it's a key ingredient," says Bucci.

"You need a reason not to spend on things that don't matter. You decide that you have a goal in mind that is more important."


Writing down your goals will help prioritize spending when it comes time to map out your plan. Bucci recommends writing short-term, medium-term and long-term goals on note cards. If you have them, include kids and the significant other in the process.

"You make your choices, but you need to have the dream or the goal and the money plus knowing that you're going to be able to put the money aside," he says.

2. Track spending
"The only way to plug the leak is to know where the leak is," says Gail Cunningham, senior director of public relations for the National Foundation for Credit Counseling.

Take some time to try to follow every cent spent: the rent payment, the $3.32 latte, the 50-cent newspaper, the 79-cent pack of gum -- everything. Don't judge yourself now or feel angst over purchases.

Almost everyone can usually account for most of their spending with a cursory overview of their finances, says Bucci. "Most people can get to 90 (percent), but the last 10 percent is a killer.

"It disappears ... lattes, tips, food at work, allowances for the kids. Just write it down and by the end of the month you'll have most of the 10 percent and know where almost all of your money goes," he says.

Continue to take notes on spending after the first month. "Keep up with the balance in your checkbook, each time you make a deposit or withdrawal, reconcile or balance your checkbook and also reconcile your statement when it arrives," Cunningham says. "No one wants to do it, but it is important."


"Even if you use a debit card, you have to write that down in your checkbook -- you should carry something around that is going to keep up with your balance."

3. Automate savings
"We're the only industrialized nation with a negative savings rate; people are spending more than they make," says Dave Jones, president of the Association of Independent Consumer Credit Counseling Agencies.

To combat sluggish savings, earmark a certain percentage or dollar amount for a savings account. Savings accounts can be either specialized retirement accounts or regular deposit accounts. Start small to get into the routine of saving regularly.

"When you're getting started, it's more important that you get in the habit of saving rather than that you save a lot," says Bucci.

Use windfalls and raises to jump-start savings as well. Got a raise at work?

"Put that money toward savings. You were living just fine without it," says Gail Cunningham, senior director of public relations for the National Foundation for Credit Counseling.


Bucci recommends funneling half of the newfound income into savings. "The other half you get to spend," he says. "So you're not missing anything, you're not taking anything away from yourself. You're still getting more money then you had before, but now you're saving a little bit more."

4. Prepare a budget
"We all need to do what is right for us," says Gail Cunningham, senior director of public relations for the National Foundation for Credit Counseling. "Some people might want to use Quicken or another computer software program and others might want a pad and pencil. It's just a matter of knowing what works for them."

If possible, send a set percentage of your income straight to a savings account and try to configure your budget as though that money doesn't even exist.

Cunningham recommends that people divide their spending plan into separate categories with necessities taking top priority. Necessities would include housing, utilities, medical insurance, food, child care, secured loans, car payments, insurance and co-signed loans. Then comes the unsecured debt, miscellaneous and entertainment expenses -- plus any other applicable categories.

Plug in your income and the amount of money shuttled into each category every month. You may see areas where you can trim some fat. For instance, you could save hundreds of dollars a year by requesting lower interest rates on credit cards or shopping around for car insurance. Unnecessary drains on funds will become apparent and you have the foundation in place to take action.


"A spending plan will let people understand exactly what bills need to be paid first -- or if they need to put a little extra cash toward a bill," says Dave Jones, president of the Association of Independent Consumer Credit Counseling Agencies.

5. Change behavior
Ideally everyone would have plenty of money leftover at the end of the month. But if necessities leave you tapped out by the 20th of the month, it may be time to take drastic steps such as getting a roommate or finding a second job.

Sometimes a change could be as easy as not eating out twice a week. "If someone is spending $100 a month on pizza, then they might decide they want to look at that and say, 'Well it's fine to order pizza in, but we're only going to do it once a week instead of two times a week,'" says Gail Cunningham, senior director of public relations for the National Foundation for Credit Counseling.

"I have found that it is more successful if a person cuts back rather than cutting out," she says. "So back to our pizza example, don't say, 'OK, no more pizza.' Just say, 'OK, let's be more judicious.'"

Curtailing credit card usage -- especially on impulse -- might be the best behavioral change you can make, particularly if you already have a large amount of credit card debt.

Another thing to do: "Get organized," says Cunningham. "You're not going to believe it, but people walk into our centers carrying grocery sacks full of unopened bills. And in that grocery sack are unopened letters from their mortgage lenders."
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Use a filing cabinet or a simple box to keep financial documents in order. Bills should be kept handy in a designated box or basket. The important thing is to set up a system that works for you. "It will save you time and you won't have to look for misplaced documents," she says.

6. Borrow wisely
Credit can be a good thing. Loans allow people to buy cars, houses, boats and even help cushion the blow in emergencies.

"It's fine when it's used properly," says Bucci. "What you have to know is that you're taking from tomorrow's money today."

On the other hand, people don't always make buying decisions rationally and can easily rack up thousands upon thousands of dollars in debt.

"If you have a $10,000 credit card bill on an 18 percent interest rate credit card and you make the minimum payment of 2 percent -- though some companies have higher minimums -- it will take 40 years to pay off that bill," says Dave Jones, president of the Association of Independent Consumer Credit Counseling Agencies. "And that's if you never make another purchase on that card."

To keep a perspective on borrowing, match a loan to the life of the product. "If this is a purchase that is going to take you a long time to pay off, then you use long-term credit to pay it off -- not short-term credit," says Bucci.

"Use long-term credit for big purchases and short-term credit for purchases that you're going to pay off in a reasonable amount of time," he says. Extreme examples would be buying a car with a credit card or taking out a home equity loan to replace a sofa.
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"You look at the couch that you're going to buy, and think this couch is going to be trash in five years. You don't want to be paying for a couch you no longer have 15 years down the line," Bucci says. "The payments shouldn't outlive the purchase."

7. Prioritize bills
Late fees and exorbitant interest rates can eat away at even well-stocked coffers. Whether you're juggling a lot of financial plates or have only a couple of monthly obligations, paying on time -- every time -- is essential.

One of the great conveniences of modern life, online bill pay allows consumers to schedule bill payments without touching a checkbook or finding postage stamps.

Some people prefer the security of real-world actions to virtual ones, however, which means they need to plan ahead.

"Payments need to be sent at least seven to 10 days before the due date," says Gail Cunningham, senior director of public relations for the National Foundation for Credit Counseling. "Write the date that you are going to mail it in the upper right hand corner under where the stamp goes and then file those bills in chronological order so that anytime you sit down, you have at your fingertips which bills need to be paid."

She also advises that if money gets too stretched, necessities should always come before paying unsecured debt.

"Last in line are the creditors, but often the consumer pays them first. I always say if your creditor is happy and your electricity has been cut off, you've done it backward. But really, though, the creditors put on the pressure."

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5 famous family feuds

Cashing in on family money

Blood is thicker than water, as they say. However, perhaps it should be added "but money is thicker than both." Particularly if the blood is blue, it would appear.

The truth is, a number of American dynastic families might best be described as "rich, famous -- and feuding." Whether it's Grandma cutting off the heirs, or the heirs allegedly abusing Grandma, there's plenty of evidence that money can't buy a happy home -- no matter how many you own. In fact, it may be the cause of the discord.

If the recession has left you feeling poor, the following family feuds may make you glad you don't have a fortune to fight over. When it comes to battling over estates, it would appear, where there's a will, there's a way to fight about it.

An Astor-nomical fortune

New York socialite Brooke Astor acknowledged motherhood wasn't her strong suit, friends said. She shipped off her only son, Anthony Marshall, to boarding school at an early age.

Then again, there's evidence Marshall grew up to be a less than a dutiful son. In 2006, Marshall's son, Philip, filed a lawsuit demanding his father be removed as guardian of Grandma Astor, who was 104. The grandson claimed his father was denying Astor, who gave away a reported $200 million during her life, decent food, a warm place to sleep, even visits from her beloved dogs.

JPMorgan Chase Bank was brought in to look at Astor's finances, and in court documents alleged Astor's son may have wrongfully taken millions from his mother's estate.

Astor died in 2007, but the Manhattan District Attorney's office investigated and indicted Marshall for what one prosecutor called "grand theft Astor." In 2009, after a five-month trial, Marshall was convicted in Manhattan Supreme Court of siphoning millions from his mother as she lay dying.

At the age of 85, he was sentenced to three years in prison. He remains free pending appeal.

Not-so-brotherly love

Ever feel like proposing a toast to family unity? It's doubtful the Gallos ever did.

You've almost certainly heard of Ernest and Julio Gallo, whose winemaking operation was the largest in the world.

You may know less about a third brother, Joseph. During the Great Depression, he became a ward of his older brothers after an apparent murder-suicide in which their father shot their mother then turned the trigger on himself.

Prohibition was ending, and Ernest and Julio began making cheap wine from the grapes of the family's California vineyard. But Joseph felt his treatment was akin to servitude. He became a commercial dairy rancher, whose best-known brand was Joseph Gallo cheese.

In this case, wine and cheese clearly didn't go together. After an extremely bitter court battle, Ernest and Julio prevailed over Joseph's claims that he had been denied his rightful share of the winery. Further, in a trademark infringement ruling, Ernest and Julio were given rights to the Gallo name. The cheese line had to be renamed Joseph Farms.

Joseph never again spoke to his brothers. He died in 2007, a few weeks before Ernest.

Courting a supreme case

It's the classic story: Successful man meets younger woman, dies shortly after marrying her and everybody lawyers up.

In 1994, J. Howard Marshall II, a billionaire Texas oilman, married former Playboy Playmate Anna Nicole Smith at a drive-in wedding chapel. He was 89 to her 26.

Marshall died the next year, setting up a showdown between his widow and E. Pierce Marshall, who was technically her stepson although nearly 30 years older.

Smith claimed her husband -- nicknamed Paw Paw -- promised her half his estate. Problem: It wasn't in the will. The son appeared to have won. But the widow filed bankruptcy, and was awarded $475 million. That was thrown out by a federal appeals court, which said the bankruptcy court overstepped its authority.

In May 2006, the U.S. Supreme Court ruled Smith could pursue her case in federal court. A month later, E. Pierce Marshall died of an infection. Seven months after that, Smith died of a drug overdose.

But the feud continues. In 2010, a federal appeals court ruled Smith's estate deserved none of Paw Paw's money. In January, the Supreme Court heard her estate's appeal. It hasn't ruled.

Leona causes trouble

When it comes to family feuds, it's a dog-eat-dog world. Just ask Leona Helmsley's survivors.

When the famed "queen of mean" real estate billionaire died in 2007, her largest beneficiary was her female Maltese terrier Trouble, who got $12 million, making the lady canine one rich dog.

It was $12 million more than two of her four grandchildren. They got nothing "for reasons which are known to them," she tartly wrote in her will. Perhaps they didn't visit her during her imprisonment for tax evasion in the 1990s. Two other grandchildren got inheritances, though less than Trouble.

It wasn't the first indication Helmsley family relations were frosty. Years earlier, after her only son died of heart problems, Helmsley evicted his widow.

Needless to say, trouble followed Trouble. A judge negotiated a $6 million settlement with the disowned grandkids. The doggy dowry was cut to $2 million, including $100,000 annually for security, considering Trouble had received death threats.

The rest of her $5 billion to $8 billion went to a trust to provide for the care and welfare of dogs. A judge later ruled the trustees weren't collared by that restriction.

The widow pleads not guilty

As Robin might say: Holy whodunits! Ben Novack Jr. loved his Batman memorabilia. His collection was reportedly the second largest in the world.

He could afford it. He owned a successful Fort Lauderdale, Fla., convention planning firm, and his father, Ben Novack Sr., founded Miami Beach's famed Fontainebleau Hotel.

On July 12, 2009, Novack visited a hotel for the last time. He was beaten to death with a dumbbell in a suburban New York hotel while on business. His estate was worth a purported $7 million.

His wife, Narcy, said the murder happened while she was at breakfast.

But prosecutors contend the widow Novack skipped the bacon and eggs. Actually, she'd hatched a murder-for-hire plan and watched as paid hit men killed her husband, prosecutors alleged. She has pleaded not guilty and awaits trial on charges that could mean life in prison.

In the aftermath, investigators revisited the death of Novack's mother, Bernice, found in a pool of blood in her Fort Lauderdale home three months before her son died. Initially believed an accident, the local medical examiner has reclassified it a homicide. Narcy Novack has been charged with masterminding that murder as well.

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If you think rich, you’re much more likely to become rich

If you think rich, you’re much more likely to become rich. This is the unanimous verdict from speaking to every wealthy person I know – and from my own research and experience in the field of generating wealth.


This series of articles will show you how to cultivate an abundance mentality – and teach you how to attract more money into your life. It will also demonstrate how to set and reach financial goals, and show you how to totally re-think the way you look at currency.

Whilst I’m not going to promise you millions overnight, if you apply the advice in this and the following articles you won’t worry about cash anymore, you’ll stop seeing money as the “be all and end all” of your life – and somehow you’ll almost certainly attract more cash into your life.


This is quite a long article (2000 words) – as it summarises the entire process I went through to go from being poor and miserable to thinking rich and being happy – and I’m sure you’ll agree it’s worth the few extra minutes.

Feel free to print it out if you haven’t got the time now. And please spread the word – I want as many people to feel like this as possible!

Poor Folk Don’t Think Rich
Generating wealth is ultimately nothing more than a subconscious conviction on your part. If you can persuade your unconscious to think rich, you will get rich. It sounds crazy, but if you can somehow convince yourself that you are wealthy, you’re in the game. The opposite is true if you believe you’re broke – it’s a self-fulfilling prophecy.

Thinking rich is obviously easier said than done. Up until as little as 6 or 7 months ago, I suffered from a poverty consciousness – I saw myself as poor. In fact, no matter how much I earned, I was always worrying about money - almost constantly.

Take a minute to see if my prior situation resonates with you: I was scared to check my bank balance – the mere thought of it sent a chilling rush of adrenaline and fear bolting straight to my gut. I never had any cash on me, and was forever trying to find an ATM or having to borrow cash. I detested paying bills, and was loathsome to give any money away. If a friend borrowed cash from me – they certainly bloody knew about it. I regularly panicked as to where the next lump of money would come from – and positively hated spending it.

In short, there was never enough cash – and money preoccupied my thoughts the vast majority of the time. Money will complete me, I wagered... if only I can get rich, I’ll be happy then...


Any of the above ringing a bell...? This is not exactly thinking rich, in my humble opinion. How many millionaires do you believe think like that?


Luckily, I reached a tipping point – I was undeniably sick of my situation. I decided to do whatever it took to a) stop worrying about money, b) get some money, and c) think rich.

My plan worked – on all three counts. This is how I did it... and best of all, it’s easy as pie. All it takes is a little motivation and a lot of imagination.


Think Rich and Save
Alright, I’ll get this one out of the way first... Just as the real secret to losing weight is to eat less and spend more time at the gym, the real secret to thinking rich – and generating wealth – is to spend less and save more in the bank.

Boring, I know, but utterly necessary. Having the discipline to put money away every month is the key to cracking how to think rich. There are few things more rewarding – and more exhilarating – than seeing your savings account swell with money on a regular basis. The feeling has to be experienced to be believed – particularly if, like I did, you drain your account for every last penny each month.

Saving gives you pride and confidence and makes you feel more responsible towards money. It also proportionately reduces anxiety – in that the more you save, the less you worry about cash.

But I never have enough money left to save, you scream.... Well, this one is easy: you simply have to pay yourself first.


Think Rich & Pay Yourself First
This simple principle is worth its weight in gold. To succeed, all you have to do is pay yourself a chunk of your earnings on pay day – before you pay your bills, rent, mortgage, or buy any luxuries, treats, and £3 Lattes.

Take between 10% and 20% of your earnings – pre-tax, if possible – and deposit it in a high interest savings account, an ISA – or put it in a shoe box under your bed. All that matters is no matter what you ensure you get paid before any of your creditors. Sod them – they’ve got enough money!

And why shouldn’t you? Please try and justify why you would work 200 hours per month to be left with nothing at the end of it. This is a life of slavery – and one to avoid at all costs.

There are very few people I’ve explained this principle to who legitimately cannot afford to put away at least 10% of their earnings every month. Yes, you might have to lay off the new clothes, heavy nights on the town and meals out while you adjust – but adjust you will. If you can genuinely only afford to pay yourself 5%, or even 1%... DO IT!

Paying yourself first sends a wondrously powerful message to your sub-conscious – it affirms that you are responsible, you are earning cash, you are saving cash – and you deserve more. In short, you are beginning to think rich.

Best of all, after a couple of months you will actually be excited to pay yourself on pay day. I now look forward to treating myself to a chunk of cash much more than I ever did to buying myself the latest computer games, DVDs, booze and gadgets on payday.

Paying yourself first is a powerful way to think rich – and seeing the results affirms your new abundance consciousness every time you check the balance of your savings account.


Think Rich and Carry Cash
think rich There’s nothing more affirming for a poverty consciousness than a cavernous, gaping, empty wallet.

Peering into the depths of a bare wallet is a depressing sight by itself. Queuing up to pay at a store, getting to the front, pulling out your wallet and realising you don’t have a penny on you is humiliating in the extreme. Being unable to chip in when you have a meal or share a cab with your friends is embarrassing. Asking your marijuana dealer to accept a check – or an IOU – is unlikely to go down too well and endear you to him lovingly. It is also unlikely to help you get high in the future.

In order to think rich, you need to act rich. Rich folk don’t run out of cash. They have beautiful, bulbous, swelling wallets with thick wads of paper crammed into them. They have cash on them to spend and cash on them to loan.

Rich people visit an ATM infrequently – to top up supplies when reserves get low. They don’t queue up for ten minutes every day to withdraw £10 – and then hoard that single note and pray to God they don’t have to break into it.

I can safely say – without exaggeration, elaboration or hyperbole – that carrying more cash is the fastest and most effective way to get your subconscious to think rich. By emulating rich people and carrying around more cash, you will think rich and feel rich too.

The trick is to start carrying around an amount of cash that makes you feel slightly uncomfortable. It should excite you! You can almost feel the presence of this cash in your pocket. It makes you carry yourself very differently.

Looking into your wallet should even speed your heart rate up a little... and the feel and touch of this chunk of notes will open a whole new sensory experience for you. Even the new and exciting smell of a wad of notes will drift up to your nose and signal to your subconscious that BIG CHANGES ARE HAPPENING!

Every time you pull your wallet out you send a massive affirmation to your brain that I HAVE MONEY! Flicking through the notes feels great and can’t help but make you think rich.

When the amount you withdraw doesn’t feel quite so daring, exciting or unusual anymore – simply increase the amount you carry. Don’t be alarmed – this is the result you want – it means that you have subconsciously got used to carrying an amount of cash that used to feel alien! You are beginning to think rich. I’m up to about £400 ($600) on me now – and carrying £100 used to scare the life out of me. There’s no need to rush this – go at your own pace. All that matters is when you get used to it, carry more. Simple!

One thing to watch out for – make sure you don’t spend it any quicker, just because you have cash on you. This is a good test for you, as it builds trust and assures your subconscious that you can be trusted with money. Again, this is a powerful belief to hold. Oh, one other thing – try not to get mugged.


Think Rich in your Imagination
If the thought of being rich scares you or makes you feel in any way uncomfortable – you are not going to get rich. First, you have to think rich – and then you can be rich.

Visualise yourself as having all the money you’ll ever need, and imagine having everything you could ever want. When you’re comfortable with the prospect in your mind, wealth will begin to manifest in your life.

Start by imagining what it would be like to have ten grand in the bank. When that seems realistic, go to twenty... fifty... one hundred. Really put yourself in the shoes of someone who has this much cash – see life through their eyes.

Just a few minutes a day will help you here – and believe me, it’s time well spent. Creative Visualisation forms the backbone of all my success. If you find it hard, invest in a meditation machine – the best money I’ve ever spent.


Think Rich and Spend It with a Smile
think rich I used to begrudge spending money. Even though I wanted more money, I hated getting rid of it.

As soon as I realised that cash is like any other energy in life, and you attract whatever you think about most, I started to get more of it. Lots more.


Fearing - or disliking - spending money sends an unbelievably poor message to your subconscious. It makes you think that money is limited, or reinforces the belief that if you spend it, you won’t get it back.

You need to change this belief and replace it with an affirming one – namely that it is fun to spend money – in fact, the point of getting money is to spend it!

Practice spending money happily (not unnecessary spending – I’m talking about money you were going to spend anyway). A technique I like to use is that whenever I spend cash, not only do I smile and thank my subconscious for getting me this cash in the first place, but I also imagine that whatever I spend I’m going to get double back! If I spend £20, I assure myself that £40 is coming back to me... from somewhere. And guess what? Since I started doing this, I’ve near enough doubled my income – and reduced my working hours by 60%. To me, this beggars rational explanation.

The happier you can get with the prospect of spending money guilt-free, the more money you will get in the future. Think rich and don’t feel bad – treat yourself and know that your money is coming back to you from somewhere!



That’s How to Think Rich!
Applying all of the tips above helped me to think rich, double my income and best of all - stop worrying about money. I’ve managed to save thousands in a very short time, and have no doubt that I will earn all I desire in the future.

It’s so easy to change the way you think about money – and the results come quick, often within a few months. If you’re sick to death of feeling poor, give these ideas a go – and send me a few pounds or dollars to say thanks when you’re rolling in it...!

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10 Things People Buy They Should Get Free

Your mom always told you that money doesn’t grow on trees. She’s right, but then if you don’t waste it, maybe you don’t need one anyway.

There are plenty of free things you can pluck from the web as well as from libraries, parks, banks and other businesses. Here’s a look at more than a half dozen valuable freebies:

First, take a look at the this recent news story Stacy turned in, then I’ll provide more details.

Here’s another look at that list, along with a few more.

Free checking. Last week we wrote an article about how, at many banks, free checking was soon to become fee checking. But plenty of banks still offer free checking accounts. SunTrust, for example, offers a free plan with no minimum balance required. And you get free online and ATM service too. Wachovia and U.S. Bank still have their own version of free accounts. Chase even offers $100 for opening such an account. Indeed, a host of banks and savings and loans offer free checking. So far. When you’re looking for lower fees, including free checking, always to look to smaller local banks and credit unions.
Free credit reports. You can go to AnnualCreditReport.com for a free look at your credit history once a year. If the Financial Regulatory Reform bill passes, you might also one day get a look at your credit score. Read about other changes ahead here.
Free cash. If you can’t find an ATM near you for a free cash withdrawal, no worries: Plenty of stores will give you cash back with no fee when you use your ATM card to make even a small purchase. You can buy a candy bar or a Diet Coke and get back up to $100 in cash from Wal-Mart. Target will give you back $40 if you use your ATM card for a purchase. Grocery stores also offer cash back. And then there are iPhone and other apps that will help you locate ATMs: Here’s one.
Free information calls. Google 411 will get you information numbers free, so don’t get ripped off by your cell phone provider. When you need directory assistance, dial 800-GOOG-411.
Free scholarship search. Plenty of websites offer free searches for scholarships, such as Fastweb. There’s even a company called Free Scholarship Searches that offers links to 40 websites that offer free scholarship searches. And check out our recent story, 6 Tips to Pay Less for a College Degree
Free baggage. Sure, nearly all airlines are charging to check baggage but at least one doesn’t: Southwest. And remember carrying on bags is still free, except for on Spirit Airlines.
Free entertainment. Your local library and parks offer lots of free fun, from books to movies to concerts. Join their e-mail list to see what’s up. And of course, there’s the Internet, offering free games as well as magazine and newspaper articles. Just go to the website of your favorite periodical.
Free Water. While technically not free, tap water is about as close as you can get. If you’re concerned about water quality, buy a filter. But don’t ever pay for water at a convenience store.
Free TV. Thanks to sites like Hulu, you can now watch many popular television shows online for free. If your favorite shows are free on the web, why pay for cable or satellite? Check out You Don’t Have to Pay for Cable TV for more.
Free telephone calls. Services like Skype and AIM let you communicate with other users for free. Always calling a loved one long distance? If you both get copies of something like Skype, you can talk all you want without paying a dime. And with a service like Google Voice, you can get all of your cell phone calls free, too.

That’s a few quick ideas, but we know there are dozens more. Share your favorite and help make this list even better.

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Can’t Pay Your Taxes? File Anyway

The tax deadline this year is April 18. But if you find that you owe and can’t pay, don’t bury your head in the sand by not filing. File your return on time, then check out these options for dealing with the debt.

Over 140 million individual income tax returns are filed every year – and every year, a quarter of Americans wait until the last minute. According to the IRS, only 82 million had filed as of March 25, and “20 to 25 percent of all taxpayers file in the final two weeks of the tax season.”

Some people are just procrastinators. Others are reluctant to file out of fear they owe money they don’t have. If you’re in the latter group, there’s a little good news: The filing deadline is not April 15 this year – it’s April 18, thanks to a D.C. holiday.

But if that three extra days isn’t enough to come up with the cash you need to pay what you owe, you should still file a tax return anyway. To hear why, watch the video below. Then read on for advice on how you can minimize the damage.

Not mentioned in the video above: It’s possible to avoid failure-to-file and failure-to-pay penalties if your excuse is good enough. According to the IRS website, “You will not have to pay a failure-to-file or failure-to-pay penalty if you can show that you failed to file or pay on time because of reasonable cause and not because of willful neglect.”

But without a great excuse, not filing a tax return is a bad idea for at least two reasons. First, while rarely prosecuted except in extreme cases, it’s a crime. For those who owe, failure to file a federal tax return is a misdemeanor punishable by a maximum fine of $25,000 or one-year prison term. Second, not filing a tax return means a penalty of 5 percent of the taxes owed for every month or partial month the return is overdue, capped at 25 percent.

Filing a return without paying, on the other hand, has a much less expensive outcome. If you file but don’t pay, your penalty will generally be only half a percent a month. So if you owe $1,000, that’s only $5 a month vs. the $50 a month you’ll owe if you don’t file a return.


So what do you do if you can’t pay? Here’s some advice:

1. Borrow from uncle Joe to pay Uncle Sam. The best-case scenario when you owe money is to borrow with no interest. Try to work out an interest-free loan with your family, friends, or employer so you can pay your taxes in full on time.

2. Get a low-interest loan. See what options your bank has for personal loans, but also check with your local credit union, where rates may be lower. While the interest rates may not seem attractive, the combined cost is usually lower than the IRS penalties and fees.

3. Pay by credit card. In some cases, charging the debt might be the best solution, but it’s not the preferred one. You face a processing fee of 1.95-2.35 percent, along with any fees and interest your bank may charge. (In comparison, the processing fee for debit cards is about $4.) There are three companies the IRS uses to process credit card payments: Link2Gov, RBS WorldPay, and Official Payments Corporation. One small bright side to charging: If you itemize on your taxes, you may be able to deduct the convenience fee. The IRS says it’s “a miscellaneous itemized deduction on Form 1040, Schedule A, Itemized Deductions. The deduction is subject to the 2 percent limit.”

4. Use an IRS payment plan. As with anyone you owe money to, it never hurts to explain your situation. The IRS has been going easier on tax settlements during the recession – but you still need to talk to them.

If you can prove hardship, the IRS could delay collecting what you owe. But the penalties and interest on the taxes due will still be added to the debt. In addition, they may also file a Notice of Federal Tax Lien on your assets to protect Uncle Sam’s interests.

If you owe less than $25,000 and think you can pay off the debt within 120 days, the first option would be to apply for an Online Payment Agreement. If it’s going to take longer than that, you can get up to 60 months by filling out an Installment Agreement Request, form 9465 [PDF].

In addition to interest and penalties, installment agreements require a $52 or $102 fee, depending on whether payments are automatically deducted from your bank account. The IRS has examples of how the math works out, but these types of agreements tend to be the most expensive way to pay what you owe – and the most hassle.

One other option is an Offer in Compromise: an agreement where the IRS agrees to accept less than you owe. As you might expect, however, the IRS will only do one of these if they’re sure you have no hope of ever paying the full amount of taxes due.

The bottom line is you need to pay as much as you can as soon as you can.

We covered several other tax topics earlier this year: Check out 3 Tips for Free Tax Help, Avoiding 13 Common Mistakes, and if you’re lucky enough to get one, 10 Dumb Things to Do With Your Tax Refund.

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The 10 Commandments of Wealth and Happiness

One of the stupidest expressions ever coined was “The one who dies with the most toys wins.” When you’re on your death bed, you won’t be thinking about the things you had – you’ll be thinking about the times you had.

So here goes: the 10 commandments of achieving financial independence and being happier while you do it …
1. Thou shalt live like you’re going to die tomorrow, but invest like you’re going to live forever.

The ease of making money in stocks, real estate, or other risk-based assets is inversely proportional to your time horizon. In other words, making money over long periods of time is easy – making money overnight is the flip of a coin.

Money is like a tree: Plant it properly, care for it every so often, then wait patiently. Stare at a newly planted tree for 24 hours, and you’ll be convinced it’s not growing. Fixate on your investments the same way, and you could miss out on a game-changer.

The biggest winner in my IRA is Apple stock. I don’t remember exactly when I bought it, but I’m guessing it was in 2002 or 2003. My split adjusted price is around $8/share: As I write this, Apple’s trading at around $300/share, for a gain of 3,800 percent. Had I been listening to CNBC or some other “news” outlet that promotes constant trading, I almost certainly wouldn’t still own it.


Patience is certainly a virtue when it comes to investing. I invested a bunch of money and built my online portfolio when the Dow was hitting generational lows back in spring 2009. I had no idea where the market was going next. I was every bit as scared as the next guy.

But having lived through similar times before – I was a stockbroker during the market crash of 1987 – and since I’m only in my mid-50s, I was confident the economy would rebound sometime before I died. While the stock market has come back quite nicely since then, in many parts of the country, housing prices haven’t. That’s why I’m now looking for real estate investments. Are you?

In short, enjoy your life to the fullest every day – live like you’re going to die tomorrow. But since you’re probably not going to die tomorrow, plant part of your money in quality stocks, real estate or other investments; then hold onto them. Don’t ignore your investments entirely – sometimes fundamental things change that indicate it’s time to move on – but don’t act rashly. Patience pays.
2. Thou shalt listen to thine own voice above all others.

My job as a consumer reporter has included listening to countless sad stories about nice people being separated from their money by people who weren’t so nice. While these stories run the gamut from real estate deals to working at home, they all start the same way: with a promise of something that seems too good to be true.

And they all end the same way: It is. Just last week, I helped someone who was about to lose money by applying for a government grant.

If someone promises they can make you 3,000 percent in the stock market, they’re either a fool for sharing that information or a liar. Why would you send money to either one? When you hear someone promising a simple solution to a complex problem, stop listening to them and start listening to your own inner voice. You know there’s no pill that’s going to make you skinny. You know the government’s not handing out free money for your small business. You know you can’t buy a house for $300. Stop listening to commercials and start listening to yourself.
3. Thou shalt covet bad economic times.

Wealth is realized when the economy is booming, but that’s not when it’s created. Wealth is created when times are bad, unemployment is high, problems are massive, everybody’s freaking out, and there’s nothing but economic misery on the horizon.

Would you rather buy a house for $400,000, or $200,000? Would you rather invest in stocks when the Dow is at 12,000 or 7,000?

Obviously, nobody wants one in 10 Americans to be out of work. But the cyclical nature of our economy all but assures that this will happen periodically. If you’re one of the 90 percent who still has a job, this is the time you’ve been saving for. Stop listening to all the Chicken Littles in the media: The sky isn’t falling. Get busy – put your cash to work and create some wealth.
4. Thou shalt not work.

MSN Money’s Liz Pulliam Weston recently wrote a great story called Pretend You Won the Lottery. She asked her Facebook fans to describe what they would do if they won the lottery. From that article:

Most of the responses had a lot in common. People overwhelmingly wanted to:
Pay off all their debts.
Help their families.
Donate more to charity.
Pursue their passions, including travel.

Note that these goals are largely achievable without winning the lottery. And that was her point: Listing what you’d like to do if money were no object puts you in touch with the way you’d really like to spend your life.

My philosophy takes this concept a step further: When it comes to work, you should try to do something that you regard as so fulfilling that you’d do it even if it didn’t pay anything. In other words, the word “work” implies doing something you have to do, not something you want to do. You should never “work.”

I’ve chosen to spend nearly all of my adult life in warm climates – I lived in Arizona for 10 years and have now lived in Fort Lauderdale for nearly that long. Why? Here’s what I’ve always said: “You already spend a third of your life sleeping. Why spend another third of it freezing your tail off?”

No offense to you Northerners. I realize some people enjoy the cold. The point is that if you’re going to spend a huge part of your life working, don’t fill that time with what makes you the most money. Fill it with what makes you the most fulfilled. I made more money in 1990 managing a branch office for a Wall Street investment firm than I will this year. But I feel a lot less slimy (no offense to stockbrokers) and lot more fulfilled. You can’t put a price tag on that.
5. Thou shalt not create debt.

I’m always getting questions about debt. “Should I borrow for this, that, or the other?” “What’s an acceptable debt level?” “Is there such a thing as good debt?”

There’s way too much analysis and mystery around something that isn’t at all mysterious. Paying interest is nothing more or less than giving someone else your money in exchange for using theirs. Rule of thumb: To have as much money as possible, avoid giving yours to other people.

Don’t ever borrow money because you want something you can’t afford. Borrow money in only two circumstances: when your back is against the wall, or when what you’re buying will increase in value by more than what you’re paying in interest.

Debt also affects you on a level that can’t be defined in dollars. When you owe money, in a very real way you’re a slave to that lender until you pay it back. When you don’t, you’re much more the master of your own destiny.

There are two ways to achieve financial freedom: Have so much money that you can’t possibly spend it all (something exceedingly difficult to do) or don’t owe anybody anything. Granted, since you still have to eat and put a roof over your head, living debt-free doesn’t offer the same level of freedom as having more money than you can possibly spend. But living debt-free isn’t a matter of luck or even hard work. It’s a simple choice, available to everyone.
6. Thou shalt be frugal – but not miserly.

The key to accumulating more savings isn’t to spend less – it’s to spend less without sacrificing your quality of life. If going out to dinner with your significant other is something that you enjoy, not doing it may create a happier bank balance, but an unhappier you – a trade-off that is neither worthwhile nor sustainable. Eating an appetizer at home, then splitting an entree at the restaurant, however, maintains your quality of life and fattens your bank account.

Finding ways to save is important, but avoiding deprivation is just as important. In short, diets suck.

Whether they’re food-related or money-related, if they leave you feeling deprived and unhappy, they’re not going to work. But there’s a difference between food diets and dollar diets: It’s hard to lose weight without depriving yourself of the foods you love, but it’s easy to reduce spending without depriving yourself of the things you love.

Cottage cheese isn’t a suitable substitute for steak, but a used car is a perfectly acceptable substitute for a new one. And the list goes on: watching TV online rather than paying for cable, buying generics when they’re just as good as name brands, using house-swapping to get free lodging, downloading books from the library instead of Amazon… No matter what you love, from physical possessions to travel, there are ways to save without reducing your quality of life.
7. Thou shalt not regard possessions in terms of money, but time.

You go to the mall and spend $150 on clothes. But what you spent isn’t just $150. If you earn $150 a day, you just spent a day of your life.

Almost every resource you have, from physical possessions to money, is renewable. The amount of time you have on this planet, however, is finite. Once used, it can never be replaced. So when you spend money – especially if you earned that money by doing something you had to do instead of what you wanted to do – you’re spending your life.

This doesn’t mean that you should never spend money. If those clothes are all that important to you, by all means, buy them. But if it’s really not going to make you that much happier, don’t. Think of it this way: If you can live on $150 a day, every time you forgo spending $150, you just get one day closer to financial independence.
8. Thou shalt consider opportunity cost.

This is related to the commandment above. Opportunity cost is an accounting term that describes the cost of missing out on alternative uses for that money. For example, when I said above that not spending $150 on clothes puts you $150 closer to independence, that was a gross understatement. Because when you save $150, investing those savings gives you the opportunity to have more savings. If you’re earning 10 percent, $150 invested for 20 years will ultimately make you $1,000 richer. If you can live on $150 a day, ignoring inflation, you can now retire nearly a week sooner, not just a day.

One of the exercises in my most recent book, Life or Debt, is to go around your house and identify things you bought but probably didn’t want or need. A quick way to do this is to find things you haven’t touched in months. These were probably impulse buys. Add up the cost of these things, multiply them by 7, and you’ll arrive at the amount of money you could have had if you’d invested that money at 10 percent for 20 years rather than wasting it.

And when you do this, consider the stuff in your closet, the stuff in your garage, the rooms of your house that you heat and cool but don’t use, the new cars you’ve bought when used would have worked. The truth is that most of us have already blown the opportunity to achieve financial independence much sooner. Maybe now’s the time to stop.
9. Thou shalt not put off till tomorrow what thou can save today.

Shortly after I began my television career in 1988, I went on set with a pack of smokes, a can of soda, and a candy bar. I explained that these things represented the kind of money most of us throw away every day without thinking about it – at the time, about $5. But compound $5 at 10 percent for 30 years, and you’ll end up with about $340,000. That’s why learning to save a few bucks here and there and investing it is so important.

Fortunes are rarely made by investing big bucks, nor are they often made late in life. Wealth most often comes from starting small and early.

In short, there are limited ways to get rich. You can inherit, marry well, build a valuable business, successfully capitalize on exceptional talent, get exceedingly lucky – or spend less than you make and consistently invest your savings over time. Even if you’re on the road to any of the former, why not do the latter?
10. Thou shalt not covet thy neighbor’s stuff.

If this commandment sounds familiar, that’s because it resembles the Biblical 10th commandment:

Thou shalt not covet thy neighbor’s house, thou shalt not covet thy neighbor’s wife, nor his manservant, nor his maidservant, nor his ox, nor his ass, nor any thing that is thy neighbor’s. (Exodus 20:17)

Envy may not be the root of all evil, but it is the root of much wasted money. As I’m fond of saying, you can either look rich or be rich, but you probably won’t live long enough to accomplish both. I’ve lived both ways, and trust me: Being rich is way better than using debt to look rich.

We’ll all admit that when on the verge of making a purchase decision, we’re often thinking of what our friends will say when they see it. Normal human behavior? Sure, but it’s not in your best interest, or theirs. Making your friends feel jealous isn’t nice, and feeling envy for other people’s possessions is silly. Possessions have never made anyone happy, nor will they.

Decide what really makes you happy, then spend – or not – accordingly. When your friends make an impressive addition to their collection of material possessions, be happy for them. One of the stupidest expressions ever coined was: “The one who dies with the most toys wins.” When you’re on your death bed, you won’t be thinking about the things you had – you’ll be thinking about the times you had.

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