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  #21  
Old 05-01-2013, 11:29 AM
concetta27 concetta27 is offline
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Quote:
Originally Posted by PeterJankowski View Post
Nice post Craig. But I'm struggling a little bit to understand what you are aiming to achieve in the next 12 weeks as well.
Are you aiming to become tight with your money in all facets of your life now or are you going to try and be less frugal when it comes to none travel related expenses etc? (I would have bought the $1000 bike by the way but that's how I roll). Or are you just trying to find a better balance between your inner saver and inner spender?
Your post has made me seriously (and I mean really seriously this time) contemplate entering this competition. It's a big call for me as I would be leaving behind my Renegade workouts for 3 months so it's not a decision that I'll make lightly.
However if I do join I would use it as a tool to keep me accountable with several things. If nothing else my 21 day sugar detox thread taught me the power of accountability. That thread kept me on track on a number of occasion that I may have otherwise fallen off the horse.

If I do decide to enter it would assist me in the following:
1) I want to finally get down to 10% body fat (something I've gotten very close to but never actually achieved).
2) Inspired by a recent Leo Babauta I want to start to write daily.
3) To log my progress with my journey to start a PT business.
4) Nail down my diet which has the propensity to get off track on occasion.
So there it is. I'll make a decision shortly. These are all things I can achieve without entering a transformation competition but I know myself and think this may assist me.
But anyway no firm decision made yet. Although even writing this has helped with my decision making process.
Thanks for the inspiration.
To be continued.....?
Peter-I think the accountability of these contests is paramount in helping to achieve goals. It certainly helped me. I will be joining #17 to start and improve some habits. Your list looks kind of long. Don't overwhelm yourself. Looks like #17 is going to be quite inspiring. Looking forward to all of our successes. Concetta
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  #22  
Old 05-01-2013, 01:01 PM
Craig Ballantyne's Avatar
Craig Ballantyne Craig Ballantyne is offline
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Amazing day here in Toronto. Just about to head to airport for Orlando.

Business Expenses
$1000 - contract worker (marketing)
$943 - Shawna Kaminiski, CTT, filming expenses
$926.60 - Accountant fees
$1492 - Monthly webmaster fees
$70 - Car to airport (I live a long way from the airport)
$55 - Taxi from Airport to Hotel (not close!)
$240 - UPS to send contest winner checks

Wasted Business Expenses because of forgotten laptop
$4 - airport internet
$289.76 - to fedex forgotten laptop


All necessary! No waste here.

Discretionary Spending
$18 - drycleaning
$10 - protein bars for weekend (Elevate Me brand...date based, not great, but at the seminar I'm attending there will be nothing but junk)
$46 - groceries in florida (fruit, vegetables, salad, waters, almonds) - thank goodness there was a fridge in my room...this grocery run has saved me at least $100 ... making the computer issue a little less painful

NOTE: one of the problems traveling from Canada to US is that I can't take F&V with me on a plane...no apples, no raw almonds, nothing. And I've been threatened with a $1500 fine before just because I had ONE apple - that I bought in an airport! So that means I have to hit a grocery store on the ground each time I cross the border...otherwise, I'd pack a lot more stuff from home.

Money Saved today
$9000

Good News

According to my accountant, I'm due for a tax refund of $9536. Of course, that means I've been "over-lending" the government a lot of money for the last 12 months. None of this refund will be wasted.

Travel time,

Craig
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  #23  
Old 05-01-2013, 01:22 PM
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PeterJankowski PeterJankowski is offline
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Quote:
Originally Posted by concetta27 View Post
Peter-I think the accountability of these contests is paramount in helping to achieve goals. It certainly helped me. I will be joining #17 to start and improve some habits. Your list looks kind of long. Don't overwhelm yourself. Looks like #17 is going to be quite inspiring. Looking forward to all of our successes. Concetta
Thanks Concetta I don't doubt what you say. My list is kinda long I guess, but they all sort of meld into one another. Writing every day means logging my progress each day which will give me the opportunity to include any PT related updates. Nailing down diet equates to getting to 10% bf. Nothing to overwhelming. Just a way to keep me on track and focused.
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  #24  
Old 05-03-2013, 09:09 AM
Craig Ballantyne's Avatar
Craig Ballantyne Craig Ballantyne is offline
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Default Thursday, May 2nd

LEMONY SNICKETS!

Lap top not here yet and its rained all week in Orlando.

LOL

Business Expenses
$552 - contract worker
$260 - Web hosting for the members site
$45 - UPS for sending some checks

Wasted Business Expenses
$30 - hotel internet (thank goodness I can still do about 70% of my work using online services)


Discretionary Spending
None!

Money Saved today
--- any money saved by groceries and not eating out/ordering room service at hotel is canceled out by the laptop debauchle.


On the bright side...

Five new TT Trainers joined the 10 Million Mission this week. Looking forward to meeting them at the TT Summit.


Hilarity ensues,

Craig
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  #25  
Old 05-03-2013, 12:12 PM
Craig Ballantyne's Avatar
Craig Ballantyne Craig Ballantyne is offline
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Default Lulz Friday, May 3

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
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  #26  
Old 05-04-2013, 05:31 AM
Craig Ballantyne's Avatar
Craig Ballantyne Craig Ballantyne is offline
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One more day of the seminar...

Looking forward to hearing from NY Times Best Selling author, Lorel Langemeier. One of her big tips is like the ones I give contestants...

Play up a level. Go deeper into the bigger circles of people that you want to be connected with. The old saying is true, "You are the average of the five people you hang around the most." And YES, people on the Internet count...so hang around FIT people online and offline if you want to be FIT.

TT Business Expenses
$520 - Hotel Expenses ...that's not bad for 3 days at a seminar, thanks to no room service charges
$45 - taxi to airport
$80 - taxi from airport to home
$25 - Fiverr.com for artwork

Discretionary Spending
$10 - Travel magazines for flight home

I'm out of bottled water and down to drinking hotel tap water that tastes terrible! But I'm going to be stingy. As long as I put the water in the fridge and get it real cold, it's fine. Plus, I can get some filtered water when I go to the gym and in the seminar room.

I also have a late checkout so I'll be able to eat the last of my groceries before I get kicked out of here...and I have got a free upgrade to business class on tonight's flight home (hurray for air miles!), so I can eat the chicken and (really great) salad on the plane...Air Canada still serves decent food.

Or I will just eat almonds all day long.

Money Saved today
$20 on random food ... NO money spent on food...but now I'm all out of BioTrust protein bars with a crazy travel schedule looming...I'll need to go get more "Elevate Me" bars for emergencies.
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  #27  
Old 05-04-2013, 07:48 AM
DanielWoodrum DanielWoodrum is offline
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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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  #28  
Old 05-04-2013, 08:14 AM
Craig Ballantyne's Avatar
Craig Ballantyne Craig Ballantyne is offline
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I believe Dr. Stanley, the guy quoted in this article, is the author of that book.

That said, there are faster and more exciting ways to build wealth than scrimping and saving.

Adding massive value to the world allows you to do that...and yes, you should remain conscious of your "spending value" as you get wealthier. There's no reason to waste money.

All good things.

I'm really enjoying this journey, and of course, I plan to make a program out of it.

Let me know what I can research to help you out, too.

Quote:
Originally Posted by DanielWoodrum View Post
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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  #29  
Old 05-05-2013, 07:30 AM
Craig Ballantyne's Avatar
Craig Ballantyne Craig Ballantyne is offline
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So nice to get home (even though 11:30pm is a little late for me) and to sleep in my own bed...and go to my regular gym.

Lots of stuff to do to get ready for the next 2 weeks...I go to San Diego (Fitness Mastermind meeting), Denver (ETR filming), NYC - seminar, Toronto for an eye doc visit, and then back to Denver for a cool Home Workout Live Broadcast on Sunday, May 19th. Stay tuned for more details!

TT Business Expenses
$10 - Boingo wireless monthly subscription (for airports)
$426 - DVD and newsletter printing and mailing
$269 - Dan Kennedy newsletter subscription
$497 - for next year's Dan Kennedy SuperConference registration (they offer a discount for signing up next year...I do the same at the TT Summit)
$44.95 - video hosting

Discretionary Spending
None


Money Saved today
$20 on an Amazon book that I didn't buy...I've put myself on an Amazon ban. I have dozens of books (probably 50 or more) that are just waiting to be read. So no more for the 12 week transformation.
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  #30  
Old 05-05-2013, 08:02 AM
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Craig Ballantyne Craig Ballantyne is offline
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Good article...

***
What You NEED to Know to Be a Successful Investor
By Dr. Steve Sjuggerud

"Steve, I'm just trying to get all this stuff figured out," my friend Charlie told me over the weekend. He's just starting out in investing.

"I'm paralyzed," he said. "I don't know what to do. I'm reading everything… But I'm not actually doing anything with my money."

"Charlie, you're doing the right thing," I said. "Learning first – and not doing anything stupid with your money – is exactly the right thing to do."

Charlie is not alone…

I'm sure many of our readers are in a similar situation. So today, I'm going to cover some of the important basics of successful investing.

These are helpful for beginning and seasoned investors… They're a great reminder about the most important things to understand when it comes to ***the market.

1. You aren't going to get rich overnight through investing.

A proper investment is one that has at least a two-year horizon. Said another way… Any investment that can double your money in a month is likely risky. You could lose all your money just as quickly. If you don't adjust your thinking in line with this, chances are you'll end up losing a lot of money.

2. Start small. That keeps your investing "tuition cost" low.

I don't mean "tuition cost" in the traditional sense… I call your "investing tuition" the money that you inevitably lose on your first investments because of something you didn't know or understand. Start small, and keep that tuition cost low.

3. Don't invest in something you don't understand.

One of the fastest ways to lose money is to put your funds into something you don't really understand. If you don't understand how you'll make money on the investment – and you can't point out your risks – you are not ready for that investment. Go study some more. And if you still don't understand, simply skip that investment.

4. What's a good return these days?

Is 5% a good return? A decade ago, 5% was a bad return… But today, 5% is (sadly) a good return on your safe money. That's because banks today are paying near-0% interest. And you get paid less than 2% for putting your money away for 10 years. Any more than that and you are taking on real risk.

5. Where should you invest now?

Younger investors (under age 50) should focus their learning on property and the stock market. Both property (in Florida, at least) and stocks are the best values they've been in decades (with the exception of the March 2009 bottom in stocks). I could be wrong. You could lose money. But I think these are your best shots at making "real" money investing in the next three to five years.

6. Don't put all your eggs in one basket.

Don't put your entire net worth in one property… And make sure you spread your stock holdings around as well by first investing in funds that hold a bunch of stocks. Something like the SPDR Dow Jones Industrial Average Fund (DIA) – which holds 30 stocks, including IBM, ExxonMobil, and Wal-Mart – is a good, "one click" way to own a basket of stocks.

7. History repeats – or at least it rhymes.

It's amazing how investors never learn that history repeats. The recent bust in property prices is a good example. In 2006, people thought property prices could never go down. And now, people think property prices can never go up. The truth is somewhere in between.

Keep in mind… you want to SELL an investment when it's expensive and everybody loves it (like housing in 2006). And you want to BUY an investment when everybody hates it (like housing today). But…

8. Don't fight the trend.

To increase your odds of making money, you don't want to try to catch a falling knife. That is gambling, not investing. Instead, it is much safer to grab that knife once it's hit and settled a bit. In other words, don't buy a stock that is going down. Instead, buy something that has started going up…

9. Cut your losses early.

There's no better way to prevent massive losses than to set – and stick to – an exit strategy on every investment you make. It's the simplest thing you can do to continually increase the value of your portfolio. The best way to do this is a "trailing stop." If you're not familiar with it, check out this edition of DailyWealth.

10. When in doubt, don't do it.

If you have any doubt about putting your money into a new investment… don't do it. Instead, keep reading and learning. That keeps your investing "tuition cost" way down!

These are rules to live by. And they're not just for beginners. Every investor – experienced or novice – should stick to these rules.

As for my friend Charlie… by reading and researching first – and not putting money to work yet – he's made all the right moves.

I urge you to follow Charlie's lead. Learn as much as you can about the markets and investing. Follow these 10 rules. And you should be successful…

Good investing,

Steve
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