Monthly Archives: April 2013

Money Today, Gone Tomorrow

I got lucky today when I was told I could cash out some unused leave or leave it and cash it out when I quit or retire. At first, I wasn’t quite too sure what to make of this good fortune. With 10 years left to retire, I thought about leaving it alone. I figured that my salary would surely be higher than today thus increasing the actual amount of money that would come my way. I looked at it as a long-term savings plan. But, then again, I could find ways to use the money now. I was in a conundrum. What to do?

How do I know the value of the money I have now and in the future? To figure this out, I turned to my good Spanish friend, Martin de Azpilcueta, who developed the concept of the time value of money to help understand what our money is worth today and tomorrow in relative terms. Incredibly, he developed this concept hundreds of years ago in the early 1500s.

The value of money today has a future value that’s the same as today. Let’s look at what this means. For example, $100 today, invested at 10% for one year will be worth $110 one year from now. Most of us would assume that the value of the $100 invested at 10% and paid in one year is now worth more than the $100 I started out with. Not so. If we compare these two, the $100 today is the same value as the $110 paid one year from now. Why is this? It’s because of the notion of the value over time. This core principle is that, as long as you gain value or earn interest (to increase the value of your investment), any amount of money is worth more the sooner it’s received.

This is an important aspect to understand. It’s an aspect that will help you break free from your long-held notions of postponing your life well into the future. Taking the money now will be worth more the sooner you begin to put it to use. So, there I had it. Thanks to Martin de Azpilceuta I decided to take the money now and live for today.

Do you have a time value of money problem?

Other Time Trading Gurus

Time

Jana presents How To Align Yourself To Your Work And Achieve More posted at Blog, saying, “Oftentimes the things we want to achieve can be achieved with less action and more alignment. Here is how to align yourself to your work and achieve more by doing less.”

Marjorie Kowalczyk presents 5 Steps On How to Make Time For Yourself Even If You Are Busier Than the Busiest Bee | Daily Workhorse posted at Daily Workhorse.

Flexibility

Aloted Omoba presents Achieving Work Family Balance posted at Super Working Mum, saying, “Maintaining a a healthy work family balance is one concern almost every working mum I know has. You probably worry about this as well. Here are some tips to consider.”

Shaun Rosenberg presents Is Motivation A Trap? posted at Shaun Rosenberg, saying, “This article look into one of my favorite quotes of all time. “The whole idea of motivation is a trap. Forget motivation. Just do it.” by John C. Maxwell.”

Bryan Chau presents Essential Skill for Success – Critical Thinking! posted at Success Pen Pal – Bryan Chau.

Money

Eran Eyal presents 6 Reasons why outsourcing development sucks for Startups posted at StartupHat – Eran Eyal on startups, raising funding, design, UX and Innovation, saying, “There’s a reason that the concept of  ”Hackers and Founders” is entrenched as a concept – burned in the mind of all entrepreneurs in the tech space – it’s because not having a tech co-founder often drives the founder to outsource development.”

Jason Hull presents Why Didn’t My Company Grow Bigger Faster? posted at Hull Financial Planning, saying, “An evaluation of why the company I co-founded didn’t grow bigger, faster before I sold it.”

Theresa Torres presents Pay Off Debt or Save: Is It Better to Save Money? posted at CreditDonkey.com Tips, saying, “Undecided whether to pay off debt first or save? Here are some figures and scenarios to guide you.”

Mr.CBB presents Life, Money and Retirement~Skype Doesn’t Reach Heaven posted at Canadian Budget Binder, saying, “Sometimes we need to ask ourselves why we work so hard for all the money we make and whether we are spending our time wisely. Pouring your life into one basket risks leaving behind potential memories that you might not be able to go back and get. Take time to evaluate your life, your priorities and your future.”

Dream Process

John Schmoll presents Taking the Plunge: What the Hell Have I Done?! posted at Frugal Rules, saying, “You learn a lot about yourself when pressed up against a wall. I found myself in this situation last summer after starting our business. By persevering through it I was able to grow and seeing the value of not giving up on oneself”

Dale Shanklin presents Even the Best Get Rejected at the Wrong Time posted at Dale Shanklin’s Personal Development Blog, saying, “Good timing is perhaps the most crucial aspect of success. Dale Shanklin shares a story from Hollywood that proves this point. Even the best ideas can get rejected at the wrong time.”

James Hamlett presents We Make Our Own Breakthroughs! posted at James Hamlett.

Nelson presents THE YOUNG ACHIEVERS GROUP: Facts about success posted at THE YOUNG ACHIEVERS GROUP.

That concludes this edition. Submit your blog article to the next edition of
work life balance and goal setting using our carnival submission form. Past posts and future hosts can be found on our blog carnival index page.

Understanding Our Problems Leads Us to Our Goals

I’m taking a much deserved life break from the daily churn. This time trading foray is letting me escape to discover another city in the state of Ohio. Vermont was the scenery a few months ago as it was fully blanketed in fresh white snow, but spring has sprung and there is only dormant grass on the ground.

My goal to discover places, once again, and places previously passed over was a welcome goal in my pursuit to fully discover North America. I remember how insurmountable this goal seemed when I first got the inclination. All I could see was the problem of actually getting myself to do it. But, to fulfill a goal, problems must be overcome, or hurdles, as I refer to them. How we overcome these hurdles or solve these problems determines, not just if we meet our goals, but how soon. How true this was!

Too often we’re overwhelmed by the tasks at hand. But, if we break things down, we can make the tasks more manageable and in essence understand our problems better. Project managers employ this technique to successfully deliver large, complex projects. This was no different.
So goals are like problems? Okay, so like a problem, sometimes we realize what we thought was the problem wasn’t the problem at all. We, in essence, gain a better perspective of our problems or tasks at hand through the compartmentalization or breaking down of large complex problems into smaller more manageable parts. The very process helps us understand the real problems and by its nature gives us an unbiased perspective on the task that lay ahead.
When related to goals we can determine if a goal is in fact a meaningful goal to us. A big goal can be broken down into smaller goals, permitting us to be more successful at attaining them.

Before we can reach for a goal, we must find the imagination to dream. How many people actually take the time to dream? Think about it. We spend hours in front of a television watching, for the most part, frivolous entertainment. We find excuses to literally waste away time. Yet, despite all this, we’re “busy.” We’re too busy to do other things, too busy to take the time to explore ourselves, our thoughts, and our dreams.

It’s important to take time to imagine. Whether it’s through a solitary walk in the woods or quiet reflection in a comfortable chair somewhere, it’s the ability to dream and imagine that expands our journey in life and brings forth fulfillment and purpose. Those who have dreams have purpose, and those who find the courage to seek out those dreams find personal fulfillment. They attain their dreams.

A dream is a higher state of unconsciousness. Goal-setting is the conscious actions we take to realize those dreams. The realization of those dreams provides us with a positive effect, pride, satisfaction, and ultimately personal fulfillment. This in turn leads to purpose and purpose is the guiding principle all humans seek! So goal-setting is our key to purpose. We just need to know how to use it to open those doors that lead us to where we want to go.

Have you determined your problem to lead you to your goals?

Feel free to share your answer in the comments.

Other Time Trading Gurus

Time

Marjorie Kowalczyk presents 5 Steps On How to Make Time For Yourself Even If You Are Busier Than the Busiest Bee | Daily Workhorse posted at Daily Workhorse >.

Flexibility

Aloted Omoba presents Achieving Work Family Balance posted at Super Working Mum, saying, “Maintaining a a healthy work family balance is one concern almost every working mum I know has. You probably worry about this as well. Here are some tips to consider.”

Shaun Rosenberg presents Is Motivation A Trap? posted at Shaun Rosenberg, saying, “This article look into one of my favorite quotes of all time. “The whole idea of motivation is a trap. Forget motivation. Just do it.” by John C. Maxwell.”

Jana presents How To Align Yourself To Your Work And Achieve More posted at Blog, saying, “Oftentimes the things we want to achieve can be achieved with less action and more alignment. Here is how to align yourself to your work and achieve more by doing less.”

Money

Eran Eyal presents 6 Reasons why outsourcing development sucks for Startups posted at StartupHat – Eran Eyal on startups, raising funding, design, UX and Innovation, saying, “There’s a reason that the concept of “Hackers and Founders” is entrenched as a concept – burned in the mind of all entrepreneurs in the tech space – it’s because not having a tech co-founder often drives the founder to outsource development.”

Jason Hull presents Why Didn’t My Company Grow Bigger Faster? posted at Hull Financial Planning, saying, “An evaluation of why the company I co-founded didn’t grow bigger, faster before I sold it.”

Theresa Torres presents Pay Off Debt or Save: Is It Better to Save Money? posted at CreditDonkey.com Tips, saying, “Undecided whether to pay off debt first or save? Here are some figures and scenarios to guide you.”

Mr.CBB presents Life, Money and Retirement~Skype Doesn’t Reach Heaven posted at Canadian Budget Binder, saying, “Sometimes we need to ask ourselves why we work so hard for all the money we make and whether we are spending our time wisely. Pouring your life into one basket risks leaving behind potential memories that you might not be able to go back and get. Take time to evaluate your life, your priorities and your future.”

Rhiana presents Couponing 101: How to Store Your Coupons posted at A Frugal Life.

The DREAM Process

John Schmoll presents Taking the Plunge: What the Hell Have I Done?! posted at Frugal Rules, saying, “You learn a lot about yourself when pressed up against a wall. I found myself in this situation last summer after starting our business. By persevering through it I was able to grow and seeing the value of not giving up on oneself”

Bryan Chau presents Inspired – Success Pen Pal | Success Pen Pal posted at Success Pen Pal, saying, “Success Pen Pal’s posts pertaining to quotes and videos that will help give you a wonderful work life balance, goal setting, inspirational, and motivations!”

Dale Shanklin presents Even the Best Get Rejected at the Wrong Time posted at Dale Shanklin’s Personal Development Blog, saying, “Good timing is perhaps the most crucial aspect of success. Dale Shanklin shares a story from Hollywood that proves this point. Even the best ideas can get rejected at the wrong time.”

That concludes this edition. Submit your blog article to the next edition of
work life balance and goal setting using our carnival submission form. Past posts and future hosts can be found on our blog carnival index page.

The Mechanics of Thinking

Relaxing outside with the sun beaming warm rays on my face and a slight breeze in the air helped me to enjoy the greenery coming to life around me. It’s not often one can simply immerse himself in a cocoon of solitude while the noise of life whirls around him. This was a short time trade that I was thoroughly enjoying. It was a time that I was taking to reflect on new goals in life.

It had been a few weeks since I had the chance to just think and contemplate, well, nothing in particular, just whatever came to mind. I was able to let my mind catch and hold onto thoughts then let them go, and all without any sense of guilt.

As I succumbed to this moment of self-reflection old sociological theories popped into my mind helping me remember that we have no conscious experience of what happens in the human mind. Even though I felt at this moment some conscious control of my thoughts.

Much of our conscious thinking is usually conducted well in advance of any conscious action we take. Our actions are a result of our thinking, not the process of thinking. It is like a system, which is an organization of related parts. For a system to survive it requires inputs, processes, and outputs that utilize information and energy. This is what makes the system active. Our ability to think is a system. We need information about our environment, then we process it, then we generate thoughts, and throughout this cycle the strength of our thoughts leverage our energy cycle.

The process of thinking leads us to conceptualize our goals, and our goals can be expressed as getting the inputs needed to support and sustain our system. The strength of our belief in those goals is supported by our emotional investment and motivational desires to realize those goals. The goal, in large respect, becomes a “need” that we’re motivated to satisfy. We feel that something is amiss, or we feel “pain.” It’s this pain that motivates us to realize our goals, and the realization of our goals itself leads us to experience pleasure. Thus, if we want more pleasure, we seek out goals to eradicate the pain we feel.

We inherently create our model of reality based on the inputs in our core system. How we process it is by and large a by-product of our experiences. Essentially, we see the world through our own constructed lens. To think more freely, we need to visualize our thoughts through a different lens. We can do this by broadening the inputs we process and being aware of the inherent bias of our lens. We create many assumptions of our reality that we take for granted. Take, for instance, that each and every one of us assumes every day of our lives that when we go to bed at night, we’ll wake up in the morning. How is that for taking things for granted!

Have you taken time to think?

Feel free to share your answer in the comments.

Time

Dale Shanklin presents Take a Snapshot of Your Life. What’s Really Important? posted at Dale Shanklin’s Personal Development Blog, saying, “It’s common to periodically feel a little lost in life. You’re not sure where to go next or if you still want the same things you’re working towards. This post contains a quick exercise that can help you get back on-track and feel content with what you’re doing. It outlines an efficient way to set meaningful goals in the major aspects of your life and help you figure out what’s really important to you!”

Gabriel Rocheleau presents Need more time? You have MUCH more time than you think! posted at Up Development, saying, “This article aims to help people realize that they actually have much more time than they think if they manage it smartly.”

Flexibility

Shaun Rosenberg presents Is The Path You Are Following Really Your Own? posted at Shaun Rosenberg, saying, “Just because we have goals and we are working hard to achieve them doesn’t mean we are going to where we want to go. Sometimes you have to ask yourself why you have a specific goal and if it fits what you actually want out of life.”

Jon Rhodes presents Stop Feeling So Tired All The Time posted at HypnoBusters, saying, “Do you find yourself feeling tired too often? If so, here are some simple solutions to stop you feeling tired all the time.”

Fitz Villafuerte presents 15 Things You Should Stop Doing If You Want a Better Life posted at Ready To Be Rich, saying, “Change begins within you. Stop your bad habits, and good things will come.”

Money

Eran Eyal presents Social Media Marketing advice: Why your ads are not converting in your Facebook Campaign posted at StartupHat – Eran Eyal on startups, raising funding, design, UX and Innovation, saying, “You can’t get your conversions on your ads. You keen pumping more cash in and creating ads in your campaign… and still most of your ads don’t get you impressions. Here’s some social media marketing advice to help you understand why your ads are not converting in your Facebook campaign.”

Jason Hull presents When Do You Need to Write Your Business Plan? posted at Hull Financial Planning, saying, “I sold a multimillion dollar company using a 12 page Power Point presentation. Here’s why the business gurus who tell you that you MUST write a formal business plan are wrong.”

John Schmoll presents What is Mobile Wallet and is it Worth the Risk? posted at Frugal Rules, saying, “As technology continues to expand more and more business are looking to mobile wallet as a desirable option. There can be some potential risks associated with it, but would that keep you from using your smartphone as a payment method?”

Mr.CBB presents Life, Money and Retirement~Skype Doesn’t Reach Heaven posted at Canadian Budget Binder, saying, “Sometimes we need to ask ourselves why we work so hard for all the money we make and whether we are spending our time wisely. Pouring your life into one basket risks leaving behind potential memories that you might not be able to go back and get. Take time to evaluate your life, your priorities and your future”

Theresa Torres presents Pay Off Debt or Save: Is It Better to Save Money? posted at CreditDonkey Tips.

The DREAM Process

Jana presents How To Uncover Our Intuition posted at Wisdom Ink, saying, “Intuition is our inner gps that can guide us to saving more time and money. The key is to be able to listen to it and make the distinction between your mind and intuition.”

Rob Graumans presents Quantity versus Quality: which one to choose? | The Young Socrates posted at The Young Socrates.

That concludes this edition. Submit your blog article to the next edition of
work life balance and goal setting using our carnival submission form. Past posts and future hosts can be found on our blog carnival index page.