June Expenses – $2014.36

Here is a breakdown of my expenses for June.

Household

$716.32

Travel

$133.90

Transportation

$197.19

Food

$298.35

Medical/Dental

$57.44

Education

$430.00

Utilities

$50.83

Phone

$104.33

Debt $26

Total

$2014.36

My expenses were up for June but that is partly because these figures now reflect the entire household’s expenses rather than just mine.  For those who don’t know our household consist of me, my wife, and her daughter.  I don’t have our expenses totally integrated for tracking yet but I estimate this figure is at least 90-95% of our expenses.  This means my past expenses can’t really be compared to my current expenses but I felt that showing the entire household’s expenses was a more accurate way to report.

I moved our dining out expenses from the entertainment category to the food category.  This left us with zero entertainment expenses for June.  We did go to the movies a couple times for free via mystery shopping but other than that we just used free entertainment options.  The food expenses broke down to $170.79 for groceries and $127.56 for dining out.  I guess that is ok but with all the free food we received from mystery shopping I think it could have been lower.  I was happy that our transportation expenses were under $200 which is lower than they have been.  This total was all for gasoline, we didn’t have any repair or other transportation expenses for a change.

I also paid $430 for bar exam software and $133.90 for hotel expenses while taking the bar.  I won’t have those expenses in July and we will have free rent for the month so I expect expenses to go way down. I’m hoping we can get our expenses down to $1500 for July.  We will see how that works and I’ll adjust my August goal as necessary.

 

 

Change Anything: Book Review and Action Plan

I received a free copy of this book for review quite a while back. I’ve been meaning to post my review for over a month but kept procrastinating. Perhaps the habit I should change is procrastination.

The premise behind Change Anything: The New Science of Personal Success, is that by using science you can make it easier to change personal habits. The authors have studied what influences bad habits and give you strategies for helping to overcome them. In this review I will share some of their strategies and how I intend to apply them to help me lose weight.

The authors tell you to identify your crucial moments. These are the moments when you are most tempted to indulge in your bad behavior. For me I generally don’t have any problem eating right in the morning or the evening. When I eat bad it is usually in the afternoon. I need to be more active in the afternoon so I’m less tempted to eat junk food.

The next strategy is to create vital behaviors. These are rules that you create in advance so that you resist temptation during crucial moments. For example you could create a rule that if you were tempted to eat a pastry you would first eat a piece of fruit instead. A couple of the rules I have created are that I need to eat at least one fruit and vegetable a day and drink no more than two cans of Dr Pepper a day. Those are pretty modest goals but they are better than I do now.

The last strategy is to engage all six sources of influence. Their six sources of influence are: love what you hate, do what you can’t, turn accomplices into friends, invert the economy, and control your space.

For love what you hate I plan to eat more of the healthy foods that I do like. I have identified those healthy foods I like and will make sure that they are available to me. I also need to find a way to exercise in a way that I enjoy. I like running and hiking but that is not too enjoyable now because it is so hot. I need to find a way to make these enjoyable despite the heat.

Turning accomplices into friends should not be much of a problem. My wife supports my goal of losing weight and will help me reach the goal by preparing healthy meals and limiting the amount of junk food we buy.

Inverting the economy is something I tried before with my $500 weight loss challenge. The idea of inverting the economy is that it should cost you more to eat unhealthy than to eat healthy. The economy can be inverted both from incentives and loss aversion. I tried the loss aversion technique with my weight loss challenge but it didn’t work for me. I think the reason it didn’t work was because the goal wasn’t short term enough. I kept telling myself I had plenty of time to meet the goal until it was finally too late to reach the goal. This time I’m going to be setting a short term goal of losing one pound a week. To hold myself accountable I’m going to be sharing my weight each week. If I meet my goal I will reward myself (incentive) and if I don’t meet my goal it will cost me (loss aversion). I haven’t decided on what my specific incentive and loss aversion will be. I could do something similar to my weight loss challenge and pay the readers of this blog each time I fail to meet my goal. I am open to suggestions on both the incentive and the loss aversion.

For controlling my space I will be keeping junk food in the house to a minimum. I will also not do any fast food mystery shops unless I am receiving bonus pay. And I have looked over the nutritional facts of the fast food restaurants so I can choose the less unhealthy options on their menu.

I probably need to add a few more behaviors to reach my weight loss goal. I currently weigh 222.4 pounds and would like to get down to 170. At a rate of one pound a week it will be next year before I reach my goal but as long as I make steady progress I’ll be ok with how long it takes. My plan is to update my weight every Saturday. If you have any suggestions I’d be happy to hear them.

Although I wrote this review about using the book to help me lose weight the strategies in the book can be used to change many different behaviors. They can be used to help you stop smoking, get out of debt or to advance your career. Even with the use of these strategies it will still take work to change these behaviors these strategies just allow one to need a little less willpower to change their behavior.

What Have You Done to Get Rich?

This question is sparked by a recent conversation I had.  Someone I know asked me why they weren’t rich despite  having worked hard all their life and never spending extravagantly.  I’m pretty sure it was a rhetorical question but I thought the answer would make a good blog post.  In the instance of this particular person it was true that they had worked hard and never spent extravagantly.  The reasons the person didn’t get rich are that there job paid just enough to cover modest middle-class expenses.  Also the job did not offer a 401k or any type of retirement plan.  And what savings there were made were put in investments with poor returns and high expenses.   This person never did anything that would have allowed them to get rich.

This made me wonder what does a person need to do to get rich.  I believe working hard is part of it but it is clear to me that by itself isn’t enough.  To figure out what needs to be done to get rich I thought about the people I know who I consider to be rich or at least well-off.  They became rich through three different ways.

  1. They owned a business.
  2. They owned real estate investments.
  3. They worked at a job that paid well above average and put their excess income into investments with a good return.

I probably could have made this just two different ways since the people I’m thinking about that made their money with well-paying jobs also made a substantial part of their wealth through real estate investments.  Looking at these three ways to get rich I have to admit that I’m not doing anything to get rich.  My blogging is a business but it doesn’t currently have the potential to make me rich.  I need to change the potential of my blog and I need to consider the other ways of getting rich as well.

The first and second ways of getting rich can be risky and even the third way has some risk.  I’m thinking the reason many people never get rich is because they never take the risk of doing something that can make them rich.   What have you done to get rich?

 

 

Online Income Report – May 2011

Here is a breakdown of my online income for May 2011.

Google Adsense – $325.57

Affiliate Income – $230.63

Brokered Ads – $54

Direct Ads- $208.03

Total – $818.23

My online income was down about $100 from the month before but I am not complaining.  I’m making a very good amount of income online considering how little work I put into it.  I was happy that my Adsense got back over $300 for the first time in a few months.  I thought I had finally figured out the best placement but it looks like Adsense will barely be over $200 this month so I guess the $300 month was just a fluke.  I would like to increase my affiliate income to be a bigger part of my income.  That is easier said then done though and I don’t want to write a bunch of posts that are just promoting affiliate products.  I have greatly increased my direct ad income this month and it looks like I will be able to maintain that for at least another month.  There is still a lot of year left but it looks like I should not have a problem meeting my goal of being a five figure blogger.


May Income – $1078.95

Here is a breakdown of my income for May.

Online Income

$751.49

Interest

$17.51

Stock Dividends

$12.97

Mystery Shops

$269.97

Cash Back/Surveys

$7.98

Ebay

$19.03

Total

$1078.95

May was an okay month for income.  I can’t complain about the amount of online income I’m making but I need to increase it or find some new sources of passive income or alternative income.  My total income needs to be about $2000 a month to keep ahead of my expenses.  I’m estimating my income will be about the same for June.