Other | Squirrelers

What Do You Think of Gift Cards as Holiday or Birthday Gifts?

Gift cards can be really popular during the holiday season, or on other occasions such as birthdays. You can buy whatever suits your fancy, from the particular retailer associated with that card. There’s freedom of choice involved for the recipient, where you can wind up avoiding receiving some ugly sweater, 1970’s necktie, or something of the like. Instead, you get what you want!

Not everyone sees it that way. Some people take it personally when they get a gift card as a gift, in the sense of getting offended by receiving something like this. The idea with this point of view seems to be that a gift should be given with the intent of providing the recipient with something he or she really wants. In other words, thinking of that person’s wishes in particular when buying a gift that will itself actually be used.

For example: if you know your wife has always talked about wanting to see a the opera live, you might buy tickets for an upcoming performance – along with plans for dinner, etc. Or, if you know your husband has a long commute to work that he finds boring or stressful, you can get him a satellite radio subscription. These are examples of how you show that you really know the person, that you care, and that you’ve been paying attention to what they need.

Personally, in terms of receiving gifts, I’m totally cool with gift cards, and actually like them. The idea of getting exactly what I want is a good thing, and it doesn’t matter if the other person thought of it or not. Actually, I’m not really needing any gifts in the first place, but I suppose that’s besides the point!

As far as giving gifts is concerned, however, I look at it differently. In that case, I tend to buy specific gifts for certain people. The way I see it, some family members such as your wife (or husband), young kids, and parents ought to get specific gifts. Or at least that’s how I do it. Some of these creative birthday gifts are a perfect example of special gifts to give. Those are people that won’t be getting gift cards from me! There are also a few other family members that would get gifts, and they will be actual gifts as well (unless I simply can’t think of anything or run out of time). However, if I ever chose to buy a gift for a gift exchange at work, or for a teacher/daycare provider (a good idea, by the way), I think a gift card actually might be more appropriate.

When you don’t know someone, it might be better safe than sorry – in which case a gift card works better. For someone you know, maybe a real, actual gift is better. Unless that person is like me, who isn’t needing gifts in general but would be totally happy with a gift card anyway 🙂 But hey, we’re all different, and there’s no right or wrong way in general. Just depends on the situation, and the preferences of the people involved!

My Questions for You:

What do you think about giving or receiving gift cards for holiday or birthday gifts?

Do you view things differently based on giving or receiving?

Do you also see distinction between giving to family/close friends, vs. others you don’t know as well?

Optimism is Great, but Just in Case – Be Insured

By Squirrelers 8 Comments

I like to try to think positively about things. While financial concerns – or the fear of financial concerns – can motivate me (as I’ll discuss in an upcoming post), I’m a fan of positive thinking. Orient your mind toward positive thoughts and expectations, and you’ll be moving a little bit more in the direction of those things happening.

That being said, we never know what can happen. We can’t control everything, despite our best intentions and positive outlooks. Sometimes, things do happen. A recent story in the sports world, which ended up being a genuine human interest story, can serve as an reminder for the need to get a life insurance quote.

A race car driver, and former Indy 500 champ, died recently in a race at another track. Naturally, that’s sad. What makes it even more sad is that the guy left behind a wife and 2 younger kids. He was in his 30’s, right in the middle of some great years of life. All of a sudden, in a car accident on the track, tragedy happened.

What happens if a tragedy impacts the average parent out there, man or woman, who’s being counted on to support the family? What if the other parent was not actively working, yet all of a sudden loses a spouse? While there are bigger things to think about, the reality is that money can soon become a big problem if much less cash flow is coming into the house.

I took out a life insurance policy a few years back for this reason. Actually, I might need to increase the amount of coverage, the more I think about it. Blogging about personal finance, and researching things further, I’ve come to the conclusion that many of us underestimate the potential financial impact of such events. Especially when young, many people think that they can skate by without making a modest payment, thinking that they can save money. While I normally like the idea of cutting out smaller amounts of money like $40 dollars a month as an example, since those amounts can add up to big dollars over time, the downside to cutting the costs can be extremely painful in the worst case.

When in my mid-20’s, I was friends with a guy in grad school who told me that he was uninsured. By this, I mean he had no health insurance. In fact, when employed before going back to grad school, he didn’t have any insurance for a while. This despite knowing at some level that the downside could be high. What’s crazier is that we were getting our MBAs, so you would think that the business mind would take over! Well, he thought he would take the risk and avoid spending the money. Great guy actually and really funny, but I’m sure it didn’t stop him from spending money going out with friends. Good guy to go get a beer with, I’ll give him that. But he simply got lucky with risky insurance choices – or non-choice.

Well, I’d rather not leave things to luck. There are other risks that can be taken, with far more upside and fun too – with less downside. It’s important to remember insurance. This holds true in many other areas of our lives as well. For example, if you’re driving regularly, you never know when an accident might happen. Nobody’s perfect. Buying motor insurance is a way to protect against those risks. Thankfully, we have to have such insurance. It’s good make smart choices along those lines, and pick a plan that works best for your own situation.

Peace of mind is important, especially when it comes to major financial issues. We might as well protect against big risks, and live without that particular worry in the back of our mind. Then we can focus on the optimism I discussed earlier!

Best of Money Carnival #124

By Squirrelers Leave a Comment

Welcome to the 124th edition of the Best of Money Carnival!

I’m proud to be hosting this week, and enjoyed the opportunity to look at quite a few excellent posts! In total, there were 75 submissions this week, and a number of them were in the final group to be considered. Ultimately, there were some tough cuts, but I managed to select the 10 that I thought were the best overall.

So if you didn’t make it, don’t worry, as only 10 were chosen and 65 didn’t get in. Please try again in a future edition of the carnival.

If your post was one of the 10, congratulations!

With that, let’s go the the countdown:

#10 – Bob from Christian PF presents 6 Ways To Hedge Against Inflation

I like to think of inflation as a silent killer of our money. While you may not see it in action from one day to the next, inflation slowly kills the purchasing power of your dollar from year to year…

#9 – SB from One Cent at a Time presents 4 Steps in the Pursuit of Being Rich

Making more money is not being greedy, shake off the feeling and work towards creating wealth in four steps that requires a lot of discipline and taking risks

#8 – John Border from Stock Market Basics and Investing for Beginners presents Learn How To Invest And Make Some Wise Investments – Tips And Advice – Part1

Investing your hard earned money in a wise manner is essential else you can end up losing your money. It is important also to not let your money idle.

#7 – Teacher Man from My University Money presents Using a Student Loan To Invest ? Smart or Unethical?

Most of us had student loans at one point, what did you use yours on?

#6 – Jeremy from Personal Finance Whiz presents Should I Contribute to a 401(k) or Pay Off Debt?

Popular advice is to pay off all your debt before saving for retirement, but if you do you may be leaving a lot of money on the table.

#5 – Lazy Man from Lazy Man and Money presents Is Social Security a Ponzi Scheme? (Part 3: How to Fix Social Security)

I still plan for my retirement as if Social Security doesn’t exist – simply because a lot can happen in the 30 years before I get to take it. If I do end up receiving benefits, that’s just frosting on the retirement cake

#4 – FMF from Free Money Finance presents You MUST Do a Test Charge

If you use cash back credit cards with bonus levels, here’s one thing you MUST do to be sure you’re getting the rewards you expect.

#3 – Joe Plemon from Personal Finance by the Book presents Stake Your Debt Free Claim by Having “The Talk” This Christmas

Christmas buying binges often derail those working on debt reduction. Having “the talk” is a great way to break through that barrier

#2 – Jill from My Dollar Plan presents Estate Planning for Every Age

An estate plan is something everyone should look at as a part of their long-term financial plan. If the unthinkable happens, it can make things a lot easier for everyone left behind.

#1 – Suba from Wealth Informatics presents Should you Buy or Rent? Calculator + Inforgraphics

Buy or rent is a question that every one of us ask ourselves at some point of time. I have created a calculator and put together an infographics on the buy vs rent data from different sources that might help answer this question.

Next week’s edition of the carnival will be at Everything Finance.

Factors that Affect the Cost of Car Insurance

By Squirrelers 2 Comments

The following is a guest post.

Car insurance can be a major cost associated with your vehicle and so, when you are looking for cheap car insurance quotes, it is definitely worth knowing a bit about the factors that affect the quotes you are offered. Read on to find out more about 7 factors that affect the cost of car insurance.

Choice of car

The type of car you drive can have a big impact on the price of your auto insurance. As you might expect, the safer your car is, the better it will be for your insurance. Big, powerful cars also cost more to insure than cars with smaller engines, so this is something else to bear in mind if you’re looking for ways to reduce your insurance costs.

Driving experience

Newer and younger drivers tend to be considered higher risk than older, more experienced drivers and this is often reflected in a person’s ability to get a cheap car insurance deal. The more experience you have of driving – and the better your driving record – the more attractive your insurance quotes will be.

Driving habits

Safe drivers with clean licenses cost less to insure than those drivers who have speeding or traffic convictions. Also, the amount you drive can also play a part in how much you have to pay for auto insurance; as a general rule, the less you drive, the less you will have to pay for your insurance. This means that it can be a good idea to work out if there is any way you could use your car less, such as by using alternatives like walking or cycling. This can save you gas money as well as insurance money, so it is definitely something to bear in mind if possible.

Car modifications

Any modifications you make to your car will also affect your motor insurance quotes. If your car comes from the manufacturer with modifications (such as alloy wheels) already made to it, this shouldn’t affect your insurance too much. However, if you make the modifications yourself, you’ll need to declare them to your insurance company and this can have a sizeable impact on your insurance costs. This means that avoiding modifications wherever possible is a good idea.

Car security

How safe your car is should also be taken into consideration. Investing in additional security systems might cost you some money up front, but have a car that’s more secure is attractive to insurers and so this will be reflected in your quotes. This is because secure cars are harder to break into and steal. Things such as immobilizers, car alarms and steering locks are all good security additions. Parking your car in a garage is also preferable to parking it on the road.

Deductible rates

Something else that affects the cost of your car insurance is your deductible rates, or the amount that you would pay in the event of making a claim on your policy. Raising your deductibles can lower the cost of your policy.

Insurance company

Finally, your choice of insurance company can have a big impact on how much you pay for your insurance, so whenever you are looking for car insurance you should always do careful research. Check to see what’s included in your policy and do a price comparison against other insurers to see which one offers the best deal before making your final choice.

Festival of Frugality #293 – Money Quotes Edition

By Squirrelers Leave a Comment

Welcome to the Festival of Frugality! I’m glad to be hosting this 293rd edition of the Festival. The theme for this edition is money quotes! There are a number of really good quotes on money that are filled with widom (or wit), and I’ve shared a few of them below.

With that, let’s get this thing rolling!

Editor’s Picks

“He who doesn’t economize will have to agonize” – Confucius

Miranda presents How to Overcome Frugal Fatigue posted at PT Money Personal Finance, saying “Before you let frugal fatigue get the best of you, here are some things you can try to combat the feeling.”

Crystal presents Do You Have Enough Insurance? posted at Budgeting In The Fun Stuff, saying “Skimping on insurance is not advised even for the most frugal. It can cost you far more in the long run.”

Paula Wethington presents Monroe on a Budget ‘s 10 rules to play fair while shopping with coupons posted at Monroe on a Budget.

Fanny presents Extreme Couponing Tips posted at Living Richly on a Budget, saying “I hardly used coupons before TLC’S Extreme Couponing show. But after I saw what was possible, it motivated me to try some of their techniques. Here are the tips I learned.”

Other Recommended Posts

“Don’t tell me where your priorities are. Show me where you spend your money and I’ll tell you what they are” – James W. Frick

Rather-Be-Shopping.com presents 3 Ways Frugal Living Leads to Weight Loss posted at Rather-Be-Shopping.com.

Money Beagle presents Just By Asking, I Saved Us $7.50 posted at Money Beagle.

Jay Fleischman presents 14 Steps For Saving Money When Negotiating With A Debt Collector posted at Money Health Central.

Matt presents 1st Annual Outdoor Fest: Creating your Own Economy Case Study posted at Living In Financial Excellence, saying “Over the last few weeks I’ve been talking a lot about creating,stimulating,or otherwise improving your personal economy. The goal:if we all strive to improve our personal financial situations en masse,the bigger economy will take care of itself. Today I want to highlight and support a local business who is doing exactly what we’ve been talking about”

Neal Frankle presents Angies List Review ? Can You Trust It? posted at Wealth Pilgrim: Money Management Advice, Financial Stess Management, Addiction Recovery Plan & Resources., saying “I recently saw a commercial on TV for an interesting concept called “Angie’s List”. It seems like a great small business idea that has taken off. The service provides consumers with ratings on businesses in their local areas helping them to make an informed decision on the companies they chose to do business with. For example, if someone holds themselves out to be a pro electrician but is really only doing the work as one of his retirement hobbies, ostensibly, you’ll know about it before you hire him”

“Money is only a tool. It will take you wherever you wish, but it will not replace you as the driver.” – Ayn Rand

Money Spending Mommy presents Financial Tips for Newlyweds posted at Money Spending Mommy, saying “There’s more to consider, including financial tips for newlyweds, than you may have first thought”

Jon the Saver presents A Programmable Thermostat is a Must posted at Free Money Wisdom, saying “When it comes to home cost, energy is one of the biggest concerns for every household. Whether it’s summer or winter, when the monthly bill comes around, we see the overwhelming cost of heating and cooling. There is an easy solution with programmable thermostats.”

Echo presents Should You Contribute To Your Retirement Account If You Have A Pension? posted at Boomer & Echo, saying “Should you contribute to your retirement account if you have a pension plan?”

Pat S. presents Great Discount Sites for the Not-So-Extreme Couponer posted at compounding returns, saying “Check out these sites for great, and easy discounts.”

One Cent presents 80 to ways to lose money foolishly posted at One Cent at a Time, saying ” 80 different foolish ways to lose money every day. Written for an average American family whose average income is $46000 and average debt of $10,000.”

“Be fearful when others are greedy. Be greedy when others are fearful” – Warren Buffett

Britney Hope presents Primp your pad for pennies posted at TotallyMoney, saying “Simple and cheap home decorating ideas.”

Kelsey presents Pinch Pennies With Homemade Laundry Room Products posted at Money Mum, saying “There are ways to cut the costs on laundry basics by making these store-bought products yourself. Not only will you save money in the long run by going homemade, but you will cut down on the amount of harmful chemicals in your home and will eliminate toxic hazards for your children”

Mike presents 5 Ways to Lower Home Energy Costs posted at Saving Money Today, saying “Discover 5 simple ways to lower your energy costs.”

FMF presents Is Teaching at a University a Way to Save on College Costs? posted at Free Money Finance, saying “Is this a valid money-saving idea? It is at some colleges — and can end up saving you a fortune!”

Jacob @ My Personal Finance Journey presents Need Some Help Getting Out of Debt? Consider Debt Eye! posted at My Personal Finance Journey, saying “If you’re looking to save money and reduce your overall financial risk, reducing (or eliminating) your debt balances is a good place to focus your efforts. This post shares my experience with a new debt management tool that just launched called Debt Eye.”

“We don’t have a trillion dollar debt because we haven’t taxed enough; we have a trillion dollar debt because we spend too much” – Ronald Reagan

Dr. Dean presents Dog Food Factoids: Ten You Need To Know posted at The Millionaire Nurse Blog, saying ” Information is one of your greatest tools against spending more than necessary. Here’s what I learned about buying dog food and how it can help you.”

Grace Carter presents 5 Ways to Maximize Your Financial Aid Eligibility posted at CreditDonkey.

Glen Craig presents 9 Ways For Students To Get Textbooks For Less posted at Free From Broke, saying “College textbooks are expensive! But there are a good number of ways a student can save on their textbook expenses. Here are nine ways to help get textbooks for less.”

Amanda presents A Confession: I Have a Status Symbol posted at My Dollar Plan, saying “Why I pay more for my cell phone contract instead of switching to a “pay as you go” plan…”

Paula presents My Not-Chic Life: Everywhere You Go Has Valet posted at AffordAnything.org, saying “When you’re forced to valet … my frugal car and fancy parking”

“A bargain is something you have to find a use for once you bought it” – Benjamin Franklin

Jon presents Is Saving for Retirement During College Wise? posted at Outlaw Finance, saying “Financial advisors keep singing the same tune: Saving for retirement works best when the saver is young.”

Matt presents Five Simple Ways to Buy Everything Cheaper and Save Money! posted at Stupid Cents, saying “There many simple ways to buy everything cheaper and get great deals on nearly everything! Why not save the money if you can?”

Tim Chen presents NEW: Southwest Airlines Credit Card with 25,000-Point Bonus posted at NerdWallet Blog – Credit Card Watch, saying “Not all credit card promos these days are for solely for big-spenders. Southwest is offering a great signing deal for those who prefer more frugal travel”

Alan presents Fuel Economy Tips & Tricks posted at Canadian Finance Blog, saying “These fuel economy tips and tricks will help you save money when you use cruise control, take advantage of the terrain and use Gas Buddy to find gas.”

Annabelle presents Day 220: Does back to school mean spending money? posted at The Year of Shopping Detox, saying “How many new school supplies do you really need to buy? Also: am I the only one who would happily wear a perfume called “Eau de New School Supplies”?”

The Lucky Fortune Cookie

By Squirrelers 24 Comments

Have you ever had one of those little moments of luck, finding some money just laying around? Well, I had one of those days this past weekend.

I had just gotten a meal at a Chinese restaurant a few days prior, and at the end of the meal, got the customary fortune cookie. Along with the bill, of course:) Anyway, as I opened the cookie to look at the message, I smiled. Now, I’m not 100% certain what the exact words were, but it said something like:

“You will soon obtain an unexpected fortune”

Cool!

Yeah, it was just a fortune from a silly fotune cookie, but I got a kick out of it and smiled. Then, subsequently forgot about it a minute later.

Fast forward to a few days later. We had gone to the park, for kids to play. For much of the time, I was following kids from station to station, watching just to make sure all was ok but also following along because I kept hearing “Daddy, watch this!” or “Daddy, check this out!” It was fun, the type of moments that make life so great.

After a while, I felt like sitting down, so I headed to a picnic bench that was about 10 yards away. I figured I could keep an eye on things from there while resting a bit. No worries, right. All is good.

Well, all was not just good – it got really good! As I sat down, I noticed a dollar bill on the ground right behind the bench seat. There was no mistaking this for a wrapper, or any other paper – not to this Squirreler. This was money! Cold, hard cash!

I picked up the bill, and to my pleasant surprise, it wasn’t a dollar. Nope. It was a five dollar bill.

Very cool!

Now, I have to admit, the very first thing I thought of was what this $5 could turn into if I invested it. A little surprising to me now, thinking about it, that this is the first thing that came to mind. But it was. I looked at that $5 and envisioned $10 down the line, after time and compunding take effect! Clearly, I’ve been getting ingrained in personal finance, maybe too much:)

Then, the thought came over me. Most likely, someone dropped this while sitting here. I mean, it’s not like $5 came crashing down from the sky just for me. Somebody left it here, dropping it directly, or maybe it fell out of a purse. Who knows? So, I stayed there at the bench for a little while, watching the kids play. All the while, I was waiting for any grown-ups to come by looking for that $5.

Nobody came by for the next 15 minutes. Nobody was even anywhere near that part of the park, and the people that were on the other side of the park had just gotten there a few minutes ago anyway. I concluded that whoever dropped the $5 bill had left the premises a while ago.

At that point, as we were getting ready to leave, I just figured that I might was well keep it. Besides, didn’t that lucky fortune cookie predict that this would happen? 🙂

My Questions for You:

How often do you actually find bills, instead of coins? For me, it’s usually coins I notice, rarely bills. Same for you?

Ever get a fortune, from a fortune cookie, that you got a kick out of?

July 4th: What a Great Holiday!

By Squirrelers 7 Comments

July 4th is upon us, and it’s a day that I’ve always really enjoyed. Here in the U.S., it’s a day that people of course show their patriotism. The American flag, and it’s colors – red, white, and blue – show up more often around this day than any other time. It’s a day when people seem to slow down a bit and spend time with family and friends.

Here in the Midwest (Chicago), it’s a day where weather is usually quite warm, which is so enjoyable considering how long and cold the winters seem to be. It’s just a great celebration of summer, in my view.

What I really like, aside from time with family, are the parades and fireworks. I know this isn’t for everyone, but there’s something fun about getting out there with others in the community, and gathering to enjoy the festivities. I especially like the fireworks. There’s just something about culminating a nice holiday by watching a nice display of fireworks.

Here’s another thing I like about the holiday festivities: they’re FREE!

Well, let’s just say there are almost free. Fireworks are probably already factored into your taxes.

Also, in terms of food and family/friend gatherings, things often tend to be a bit casual on July 4th. No chance for an elaborate meal like on Thanksgiving, for example. For many folks, a simple meal works just well. It’s a big day for folks to grill or cook out. Nothing too expensive.

July 4th is a winner all around. Fun, family/friends, flag waving, and in some ways, frugality!

What about you?

What do you like most about the July 4th Holiday?

Do you have any traditions with family and/or friends on the day?

Priceless Baseball Opening Day Memories

By Squirrelers 14 Comments

Opening Day of the baseball season, here we come!

For me, this is a marker of a new season that’s beginning. Not just a new baseball season, but the “Season”. By this, I mean that it’s milestone that tells us that warmer weather and summer fun is on the way. Here in the Chicago area, it’s a big deal, after the cold winters – especially this year, with the epic storm that battered the area in February. Summer here is a true celebration, people that have moved here from other places across the country remark how great the season locally is because everyone’s so excited.

Anyway, being a sports fan, this reminds me of a time when I shelled out some cash, took a chance, and went to the Opening Day game in Chicago. It was well worth the money.

I was a high school junior, 17 years old, and we went to see the White Sox at the old Comiskey Park. It was torn down 20 years ago, but I still have many childhood/teen memories of the grand old place from an era long past. Including that season opener.

It was a risk because it was on a school day. You just couldn’t skip a day of school to go see a game. But we did it, and what a time it was.

We sat in the left field upper deck of the ancient ballpark, and watched the opener. It was kind of chilly, I remember that, but the seasons were clearly changing. Just being at the ballpark on opening day, with some buddies while in high school was great. Thinking of all the history at the old park, which opened in 1910, added to the aura of the afternoon. Lots of opening days too place there, and generations of fans had been going to old Comiskey Park for almost 80 years to see the White Sox. It was great to be a part of one.

What’s funny is that even though I’m a big fan, I don’t even remember who won that day. What I do remember was being a young guy going to the storied old ballpark on Opening Day, taking in all the sights, sounds, and even the smells (good ole ballpark fare).

Also interesting is that even though I tend to think of money more than many people (probably an understatement), I have no idea how much it cost to go to that game. It was probably a big expenditure to see that game, for me at that age. After all, I hadn’t even had my first summer job yet. But clearly I didn’t care much. Now that I’m older, I appreciate the memories even more. Can’t wait to take my own kids to ballgames, thought no skipping school will be allowed:)

Sometimes it’s so worth it to just spend the money, seize the moment, and go do what it is you want to do. Not always, but once in a while. If you pick carefully, those times can be priceless. In fact, like me, you won’t even remember or care about the costs involved.

My Questions for You:

Have you ever splurged to go to a big sporting event? Actually, let’s make it any live show, be it game, play, show, etc.
Since it’s the week of Opening Day, tell us – what’s your favorite baseball team?

Increase Productivity: 10 More Tips

By Squirrelers 6 Comments

Do you wish you could be more productive in getting things done?

The way I look at it, there are so many things I’d like to do, but so little time to get them all done. Life is short, and we spend much of our time doing “necessary” things like working or running errands that we want to make sure that:

We’re making the most of the time we invest
We have enough free time to enjoy

Perhaps you have additional motivations as well.

Bottom line is that being productive can help us get the most out of our life, and learning skills on how to be productive can help us make that happen.

Previously, I had published 10 Tips to Improve Productivity. You may want to check out that post to get the full discussion on each of the tips, as well as the comments that they generated. For purposes of this post, I’ll simply list the first 10 tips here:

Wake Up Early
Do the Most important Things First
Follow the 80/20 rule
Learn to Say No
Create a Not-To-Do List
Visualize Success
Focus
Chip Away at Long-Term Projects
Carry a Note Pad for Ideas
Set Aside “You” Time

Since publishing this list, I’ve been thinking of additional tips that could help many people be more productive, and thus help accomplish great things.

Here are 10 new tips to increase productivity:

Plan in Reverse – Think about the end goal, and work backwards from there. Do you need to get a project done? Consider when you want it done, think about the steps required to complete the task, and map out a timeline. Sometimes, there are dependencies – for example, let’s say Step 3 of a project must be completed before you can begin Step 4. Start with the end in mind, and assess what needs to be done and how long interim steps will take. This can help you plan a project in an informed manner, while working toward a deadline.
Avoid Analysis Paralysis – If something is very important, or truly requires significant thought or analysis, and then take the necessary time. However, many decisions aren’t that important. Instead of over thinking things that aren’t truly important, make a decision and go with it. Your instincts and initial thoughts are probably better than you think.
Audit your Time – As this is a personal finance blog, think about the examples people give about recording all their expenses. Personally, along those lines, I do an “audit”, where I record expenses for a month or two, get an idea of where things are going well or not, and change spending habits accordingly. This concept can apply to your time management as well. Track how long you’re spending getting things done, and figure out where your bottlenecks are. For example: if you’re not able to exercise on days you want to, but time tracking reveals that you cook dinner for 1 hour each day, maybe you could make more simple dinners that take 30 minutes instead, and find time for the exercise.
Set Time Limits – As a corollary to auditing time, once you get an idea of how much time you spend on specific tasks, you can determine how much time you should be spending on things. Set a timer, and make yourself get something done in a specific time frame. It’s amazing how well many of us can do when deadlines are present.
Sleep More – In the original list of 10 tips, I suggested getting up early. After thinking about that some more, I’d like to add that many of us could actually use more sleep than we’re currently getting. So, getting up early can be great, provided we get the right amount of sleep. Early to bed, early to rise.
Purge – I need to do better with this. If something is not needed anymore, junk it. This includes physical items like papers, trinkets, etc – as well as tasks. If something provides you with no further value, or less value than you’re putting into it, get rid of it.
Create Templates – Try to avoid spending time doing the same exact thing over and over; rather, streamline your efforts by investing time into doing something once, and then leveraging it in the future. This can range from template emails to clients or customers, automated email signatures, or other repetitive tasks of the like.
Meditate – I don’t regularly do this. That said, the small sample of times when I actually tried this did help. Investing some time to just chillax and completely disengage in this way can get you instant energy and a bit of a refreshed perspective.
Stretch – I may be the only person who recommends this as a way to improve productivity, as it’s seemingly unrelated, right? Perhaps. Plus, it’s hard to do this while working. However, for me, I find that it provides a refreshed, energized feeling not unlike meditating or resting. It’s a bit alternative, but give it a shot, for a boost to get you going. It beats drinking caffeine, at least for me!
Single-task – Some of us try to do multiple things at once, and thereby make our lives incredibly hectic. The thing is, it often means that we try to do many things without doing any of them right. Sometimes that’s fine, but sometimes it’s not. Focusing and getting something done right is a good way to avoid unproductive duplicative efforts letter. Single-tasking instead of multi-tasking works better in some situations.

What do you think?

Considering all 20 tips together (10 old and 10 new), which ones do you find most applicable or useful?

Are there any that you regularly practice or should practice? Perhaps you even have new productivity tips to add.