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Old 05-04-2013, 07:48 AM
DanielWoodrum DanielWoodrum is offline
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Join Date: Jan 2010
Posts: 1,771
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Quote:
Originally Posted by Craig Ballantyne View Post
The lap top arrived...but the box was soaking wet from sitting in the rain.

Fortunately the computer was in a bag and it's working fine.

What a hassle. I won't forget again.

TT Business Expenses
$89.99 - Godaddy domain names (I own about 200 or so...but those will be transferred to ETR when the sale is done and I won't have this expense anymore in the TT biz)
$290 - Amazon video hosting for HWR
$136 - business dinner meeting at Palms Steakhouse, Hard Rock Hotel, Orlando...great classic steakhouse
$50 - taxis there and back...crazy rainstorm on the way home

Wasted Business Expenses
$27 - hotel business center internet


Discretionary Spending
$6 - hotel waters...I haven't really left my room since my laptop arrived...catching up...and today's sessions were mediocre...business dinner later, and then heading back to toronto on Sunday...then off to San Diego on Tuesday, May 7th to run the Fitness Info Mastermind group with Bedros Keuilian...we'll be joined by Mikey Whitfield, Brian Kalakay, Shawna Kaminski, Dan Long, Kate Vidulich (<= rising superstar!) and many others. Always a good time.

After that I go to Denver, NYC, and then back to Denver for a really special event on May 19th that you'll be able to watch online from home for free. Stay tuned.

And then only a few weeks after that until the TT Summit!

Even if you're not a trainer, it's totally worth it to come down for the bootcamp workouts.


Money Saved today
None so far.

***

And some good advice from today's ETR guest essay at:

http://www.earlytorise.com/how-to-tell-if-youre-rich/

"
How do you get rich if you aren’t currently?


The basic formula is pretty simple: Maximize your income (by upgrading your education or job skills). Minimize your outgo (by living beneath your means). Religiously save the difference. (Easier said than done.) And follow proven investment principles.


Most millionaires – folks with liquid assets of one million dollars or more – are not big spenders. Quite the opposite, in fact.


According to extensive surveys by Dr. Stanley, the most productive accumulators of wealth spend far less than they can afford on homes, cars, clothing, vacations, food, beverages, and entertainment.


The wanna-be’s, on the other hand, (people with higher-than-average incomes but not much net worth) are merely “aspirational.” They buy expensive clothes, top-shelf wines and liquors, luxury cars, powerboats, all kinds of bling, and often more house than they can comfortably afford. Their problem, in essence, is that they’re trying to look rich.



This prevents them from ever becoming rich.


It surprises many, but the vast majority of millionaires in the United States:
  • Live in a house that costs less than $400,000.
  • Are more likely to wear a Timex than a Rolex.
  • Generally pay $15 or less for a bottle of wine.
  • Have never paid more than $400 for a suit.
  • Are more likely to drive a Nissan than a BMW.
  • Spend very little on prestige brands and luxury items.
Yes, they’re frugal. But they’re also happy, not to mention financially free. They are not dependent on their families, their employers, or the federal government. What a feeling.
Some can’t abide by this important lesson, but the bottom line is clear: If you want to be rich, you have to stop acting rich… and start living like a real millionaire."


*****
Craig's comments:


a) I don't own a house...Canadian real estate is overpriced right now


b) I don't own ANY watches (a lot of my friends have several...I just don't get the appeal)



c) I quit drinking wine...I think I'm allergic to it...but I will have a pre-dinner Black Russian with Chopin potato vodka if you're buying --- but not at the TT summit because I need to save my energy and voice!


d) I'm guilty of buying an expensive suit...but I only have one, and it was purchased in 2008 and I've worn it in many videos...it has paid for itself many times over



e) I don't have a car, but when I did, I had a Nissan Maxima for 11 years. A '97 that I bought in 2000...great times in that car.


Alright, that's it. I'll post an article soon from Mark Ford about "how to live rich without spending a lot of money".

It's a good follow up.

And hopefully this weekend I'll get around to writing my charity/donation plan.

Have a great weekend.

The laptop arrived just in time to go home tomorrow,

Craig
Very insightful information Craig. I read a book several years ago called The Millionaire Next Door and it described exactly what you said in terms of wealthy people not being big spenders. I might have to dust off the book and read it again!
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