When you stop and think of it, does it really matter if you buy people another toy/trinket or some other thing that has no lasting value?  Do materialistic things really matter that much?

As I get older, I’ve been reflecting back on my childhood and Christmas in general.  I don’t remember all the presents I got, but I do remember the quality time spent with family that I am fortunate to have.  Making memories through experiences are worth much more than a toy or other tangible gift.

So I propose to you: this Christmas, give a gift that has lasting meaning.

Action Steps

1. Sit down and hand write a note to the person you care about.  Tell them how much they mean to you and why you feel blessed to have them in your life.  Wrap this present and give it to them: it will go much further long term than anything you could possibly give them.
2. If you want to give a gift: give a gift that keeps on giving… a gift certificate for a nice dinner out perhaps or another experience that will bring you closer with your family or friends.  These memories are priceless.
3. Give to others out of the kindness of your heart.  It feels much better to give than receive.

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Commitment

Until one is committed
There is hesitancy, the chance to draw back
Always ineffectiveness.

Concerning all acts of initiative (and Creation)
There is one elementary truth
The ignorance which kills countless ideas and splendid plans:

That the moment that one definitely commits ones self
Then Providence moves too.

All sorts of things occur to help one
That would never otherwise have occurred.

A whole stream of events issues from the decision
Raising in one’s favor all manner
Of unforeseen incidents and meetings
And material substance
Which no one could have dreamt
Would have come your way.

Whatever you can do or dream you can, begin it.
Boldness has genius, power and magic in it.

GOETHE

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At www.Anywire.com , I found an article on how to become a Lifestyle Entrepreneur .  This article asks you the questions you need to determine whether or not you would fit into this category.

Answer the following:

1. Do you want to work fewer hours but still make good money?  This can be achieved by increasing your earnings/per hour or by finding other ways to make more money.
2. Do you want the freedom to travel and not be limited by geography?
3. Do you want to do "work" that doesn’t feel like it, so that your business and fun blend together?

If you answered yes to one of these questions, then I strongly recommend that you take a look at the article Become a Lifestyle Entrepreneur: Complete Guide and 40+ Resources that really gives you all the resources you need to help you discover which type of Lifestyle Entrepreneur you want to be!

Happy Growing!

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A country can produce two things: goods and services.  It used to be that America was the engine for producing goods, but that has since changed as globalization has taken hold.  Manufacturing jobs have shifted overseas, and these countries can produce the bulk of the world’s needs with maximum efficiency.

Since just about anything can be outsourced these days - from graphic design to accounting and assistants- there is little left to compete on other than our creativity.  As discussed in the 4-Hour Work Week by Tim Ferris, Indian virtual assistants (VA) can work with a greater knowledge of research and technical skills than most American college graduates.  In the book The Elephant and the Dragon , Robyn Meredith states that there are more college graduates in one province in India than in the entire United States!

So clearly, there’s no shortage of competition.

According to Mark McGuiness of Lateral Action, it’s no longer about being efficient with our time.  He writes:

"Organization, professionalism, efficiency, productivity and initiative – these are becoming ubiquitous, and depending on where you live, there’s a fair chance someone, somewhere, can provide them cheaper than you can."

I see the way for you to differentiate yourself by developing skills that allow you to capitalize on your creativity.  And don’t tell me you have none: everyone has a little!  This could be by creating information products, designing something like a new product idea, or selling a service that fills a need within a niche market.

By discovering your own unique skills and making connections with others, you can work to provide more value to more people…and reap the personal and financial benefits.

In Your Court

How do you feel the Creative Economy will affect you?

In what ways do you feel you can capitalize on the new economy?

What are your fears or perceived limitations with moving forward?

Be sure to subscribe if you haven’t already, and leave your comments below…

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In his book The Toilet Paper Entrepreneur , Mike Michalowicz describes the differences between the world of modern day entrepreneurs.  A Media Darling Entrepreneur is someone who seems to rocket to huge success seamlessly, almost overnight.  A Toilet Paper Entrepreneur on the other hand, is someone who struggled and worked much harder to get to where they are.  Most entrepreneurs fall into category number 2.

And that’s OK.  Building a business takes time.  Depending on what you want to start, it may be helpful to get experience in the business by working for someone else before stepping out on your own.

So don’t be upset if you don’t become an overnight success: no one has.  Even the people that seem to rocket to the top had months and years of preparation -where they "worked" for free- before getting into the big leagues.  Have patience and persistence, and if you truly desire a better life for yourself (and others), you’ll join with them someday.  Godspeed.

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This video covers the four parts he sees as being the process to change your life:

1. Disgust
2. Decision
3. Desire
4. Resolve

He discusses the following points:

• The idea of embracing all experiences, letting each one teach you something.
• The power of the word "until."
• The definition of the word "resolve" as told to him by a little girl: "promising yourself you’ll never give up."

I encourage you to watch this valuable video!

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CEO — Chief Embezzlement Officer.
CFO — Corporate Fraud Officer.
BULL MARKET — A random market movement causing an investor to mistake himself for a financial genius.
BEAR MARKET — A 6 to 18 month period when the kids get no allowance, the wife gets no jewelry, and the husband gets no sex.
VALUE INVESTING — The art of buying low and selling lower.
P/E RATIO — The percentage of investors wetting their pants as the market keeps crashing.
BROKER — What my broker has made me.
STANDARD & POOR — Your life in a nutshell.
STOCK ANALYST — Idiot who just downgraded your stock.
STOCK SPLIT — When your ex-wife and her lawyer split your assets equally between themselves.
FINANCIAL PLANNER — A guy whose phone has been disconnected.
MARKET CORRECTION — The day after you buy stocks.
CASH FLOW — The movement your money makes as it disappears down the toilet.
YAHOO — What you yell after selling it to some poor sucker for $240 per share.
WINDOWS — What you jump out of when you’re the sucker who bought Yahoo @ $240 per share.
INSTITUTIONAL INVESTOR — Past year investor who’s now locked up in a nuthouse.
PROFIT — An archaic word no longer in use.

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Many of them grew up during a time period where there was abundance, especially during the 1990’s.  They do not know what it’s like to embrace a world where it is harder to get by.

In the article, it states that American high school graduates are weak in quantitative skills, making them weak with the subject of money.  A 2007 study done for Charles Schwab, 62 percent of teenagers felt they were ready to handle the world of finances after high school.  When asked about their knowledge of certain money topics, most had no clue about some of the basics like check book balancing (although isn’t that outdated with internet banking?).

I hope in the near future that parents will have talks with their children about money and get them to increase their financial awareness .  The sooner they learn about the world of money, the sooner they can focus on building assets, and not acquiring liabilities or unneeded expenses.

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The site is much like Digg.com: Tip’d users can submit content to be "Tip’d" by other users, as well as tip content that they find worthwhile on the web.  The more "Tips" an article gets, the higher it moves on the site for the whole community to benefit from.  If you hit the front page, you’re onto something good!

Unlike Digg, where you have stories from nearly every industry, Tip’d is focused on the financial niche, giving all of us a valuable source for financial information.  After all, we are all investors, and with the increasing changes in the world of money, having access to a resource like this is invaluable.  My favorite part: the information is sorted for you, and the best rises to the top!

I highly suggest you sign up at the site and become a member of the Tip’d community with me.  "See" you there!

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So how do you budget your money?

There are only two ways to budget your money:

1. Budget Deficit
2. Budget Surplus

A Budget Deficit is when you do not plan well and spend more money than you make. This could also be that you fail to plan and instead rely upon yourself to guesstimate about how much money you will need for your bills on a monthly basis. If you run your finances like this, you’ll be in a world of hurt.

A Budget Surplus is making a conscious decision to pay yourself first by including in your expenses the payment you need to make to yourself every month. Budgeting in this way ensures that you have money that you are setting aside for yourself in order to build your asset column. This makes you more accountable for your expenses and makes you live on whatever is left over, instead of trying to save whatever you have after paying your bills.

Budget for a surplus : you’ll be glad you did! Use the money you set aside to build your asset column to increase your passive or portfolio income. This may take time, but have patience. Continue to invest in yourself and your financial education in order to make it happen.

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