Everyday at work I go up to the cafeteria to eat lunch. I bring my lunch from home, but it’s nice to get away from my desk for a little while. So many other people though, go to the cafeteria everyday and buy there lunch. Everyday they’re spending probably $5 or $6 dollars just to eat lunch at work. That’s over $100 a month that’s spent at work.

What’s even more interesting is the cycle that this money goes through. The employee goes to work to earn a paycheck. The money that’s earned is then taxed at the income tax level. The money is then promptly given right back to the employer. Taking taxes into account, these people actually have to earn approximately $140 just to fund their lunches. As far as I’m concerned, that’s quite a monthly expense.

To top it all off, the food that’s served in the cafeteria is nothing more than mediocre. It’s not all that fresh and it’s nothing really to get excited about. If this situation sounds familiar to you, maybe you ought to rethink your lunch situation. Bringing your lunch from home can save you a lot of money and give you more variety than you could otherwise have. It’s at least something to think about.

One of the big stories in the news today was about the estate of Leona Helmsley. She was a real estate billionaire who, in her will, left a $12 million trust fund to her dog, a white Maltese. She also left $5 million apiece to two of her grandchildren while the other two grandchildren get nothing. The dog got more than all the grandchildren combined.

I can’t believe the insanity of the whole situation. This is just another prime example proving that money does not make the person. I fear that too many people believe that they’ll change once they’ve “arrived”. If you’re stingy, resentful, or begrudging, no amount of money will change that.

You won’t be more charitable if you had millions of dollars. You won’t treat those around you with respect because you no longer have to worry about money. Decide what kind of person you’d like to be, what qualities you admire in others, and start becoming that person and developing those qualities. You don’t want to end up like Mrs. Helmsley.

Every once and a while we receive some amount of money we didn’t really expect. Maybe when you get married a distant relative writes you a large check. Perhaps you’ve received what we’ve come to call “birthday money”. If you’d like, you can lump your tax return in with this category. I’m talking about any amount of money that you weren’t expecting to have.

Now for the question… What do you do with this money? I would guess that most people see it as an opportunity to splurge.

“There’s this great new steak house that I’ve been wanting to try.”
“Now I can finally get that outfit I’ve had my eye on.”
“I’ve always wanted to go to Florida, and now I can.”

These are the types of things I hear people say all the time. Perhaps you see yourself in some of these statements. What I hardly ever hear are things like these:

“I think I’ll buy some stock in Company X; I’ve had my eye on them for a while now.”
“I’m going to pay off my credit card once and for all.”
“There’s this person I know who could use a little help. I think I’ll make their day.”

Obviously whatever you decide to do with your money is solely your business. I submit though, that some of these attitudes and decisions have a lot more to say about you than just your money management skills. Next time you are on the receiving end of a little extra cash, give some serious thought to what you’d “really” like to do with it.

So many people are concerned with what type of car they drive. This isn’t really a new phenomenon, but more people are able to satisfy their wants these wants because of various reasons such as cheaper prices and more available credit. In fact, it’s one of the things I see quite frequently among a lot of young professionals. Soon after they get a “good” job, they find themselves looking for and buying a new car.

So, what does your car say about you? Or what do you want it to say about you?

For some, it says that they’ve finally “arrived”. I’m not even sure what that really means, but it’s the motivation for a lot of people. Interestingly enough, no matter where people are in life, they usually always want more. But hey, you’re there, right?

Others go for something that makes them feel rugged, or tough. This is usually accomplished with an SUV or a truck. What I find most interesting here is when I see people in something like the Lincoln Mark LT or the Cadillac EXT. They’d never think of putting yard waste or concrete in it, but hey, it’s a truck; they must be tough.

Still others will opt for something that says “smooth and classy”. This type of car is becoming all too common these days. Just look at the abundance of the BMW 3-series. If this is what you’re after, enjoy being just like everyone else.

Another group of people choose not to care what their car says to others. Instead they care more about what it says to them. They drive affordable and reliable vehicles that are oftentimes already paid off. It generally won’t be the newest or the most prestigious, but it reminds them of their financial savvy. It tells them that they are fiscally responsible and put higher priority goals ahead of their “image”. This style obviously isn’t for everyone, but it’s a category worth considering for yourself.

With this being said, What does YOUR car say about YOU?

One of the biggest obstacles that separates us from success in many areas is procrastination. To procrastinate may be defined as:

“To put off doing something, especially out of habitual carelessness or laziness.”

My intent here is not to write a lengthy dissertation on a subject that has already been well covered elsewhere, but rather as a reminder of the subject. We all procrastinate in various aspects of our lives because we tend to focus on and do those things which we most enjoy. Some people actually enjoy jogging and other forms of exercise while there are those who loathe it. The latter group would most likely be the ones to procrastinate in this area, telling themselves they’ll get to it when they get to it.

When it comes to our finances, it’s much the same. There are those who enjoy them and those who don’t. For those of you who don’t enjoy managing your personal finances but know it’s important, don’t procrastinate the situation any longer. If you find yourself in debt, don’t put off the task of implementing a plan to rid yourself of it.

This procrastination will also hold us back from reaching some of our goals. We must remember that all goals are made up of many small steps. When we keep putting off the small steps, we’re holding ourselves back from reaching our main goals. So, when you’re sitting there this evening watching television or doing something equally mundane, stop and do something that you’ve been putting off for a while. Then, see how you feel afterwards…

I’ve been hearing a lot of radio ads lately for organizations that want to help people with credit card debt. They say they have information that the credit card companies don’t want you to know. They want to help you settle your debt for a fraction of what you actually owe. Sounds great, right?

What concerns me, however, is how this debt is treated and referred to. They would have you believe that credit card debt is some disease or malady that afflicts people at random and that they are the cure. They’re removing any element of personal responsibility, and that bothers me.

Consumers are being told they’re entitled to maintain their spending habits and that they’re somehow not responsible for the debt that they’ve racked up. We need to understand that we’re responsible for the consequences of our choices. If the consequences are removed without a fundamental behaviour change, the debt problems won’t go away.

Don’t ignore your personal responsibility when it comes to your debts. If you’re looking for a solution, look no further than the behaviour and habits that got you there in the first place.

After taking a week off from work last week, I was able to think about things from a slightly different perspective. My usual routine was broken and I was able to sort of step outside of my normal life for a while. It also provided an opportunity for me to take another look at my priorities.

I know that often on this site and most other financial sites there is a sense of frugality that is recommended and that we shouldn’t just be wasteful. Oftentimes this is taken to the extreme where one hardly spends any money at all.

Now, whether you’re just careful or someone who tries to minimize all expenditures, are you doing it at the expense of missed experiences and opportunities? I’m not saying that you should aimlessly go out and buy tickets for events or other activities, but are you falling into a rut because of an unwillingness to spend any money?

There are also many activities and things to do that are relatively cheap if not altogether free. Life should be lived and there are a myriad of things to do if you go out and find them. We shouldn’t waste away so much time on mindless hours of television for example. You’ll also find that you’ll meet new people and come across many different opportunities that you would otherwise never have noticed.

So, if you feel that you’re stuck somewhere, or that life just isn’t that exciting, actively seek out something new that you can do and experience. It may be a free museum, or a walk around a downtown area you hardly ever visit. Perhaps it’s just a walk around a local park. Whatever you decide, try something new and see if you can get yourself out of the daily grind of your usual routine.