Broke-Ass Student

“There’s quicksand all around us,” says 87-year old veteran investment advisor Charles Allmon. “We’re in an economy that’s tanking, we’re looking at the most significant economic downturn since the 1930s, and the dollar is going to hell.”

New Threat: The ‘Obama’ Market
The Sun
June 30, 2008

Mr. Allmon has been in the stock market for over fifty years and currently manages over $200 million in assets - and has outperformed this year’s rocky market with modest gains of between 1% and 2%.

Mr. Allmon says, “Senator Obama is leading a children’s brigade, but the problem is children shouldn’t be leading this country.”

Further, the veteran adviser, who publishes a 46-year-old monthly investment newsletter, the Growth Stock Outlook, out of Bethesda, Md., made a marvelous market call last July with the Dow Jones Industrials hovering around 14,000 and bullish sentiment rampant. In an ominous warning to subscribers, he urged extreme caution, predicting the Dow was on its way to 8,500 to 9,000, which he noted was a forecast that “could be on the high side.”
With the index having plummeted more than 2,500 points since then, his crystal-ball gazing talent is not to be taken lightly.

At the time of his forecast, Mr. Allmon recalls, some subscribers rang him up and told him, “You’re nuts.” But now, he says, “They’re beginning to recognize something is really wrong in this country, and an 8,500 to 9,000 Dow is very possible.” Thursday and Friday’s wicked two-day Dow decline of 465 points, or nearly 4%, he says, may be a prelude to that drop.

Mr. Allmon’s parting words: “We’re in a bear market that’s got more to go; don’t get sucked in.”

Lookin’ like a million dollars, even on a broke-ass budget

For me, beauty has always been a special type of spiritual elevation. Beauty is a powerful radiation from the inside out and shines through in the joy we feel in our hearts and by unlocking the passion in our souls. Beauty encapsulates not only the physical, but possesses the mental and spiritual just as deeply.

Many women may feel afraid to cultivate their external beauty and end up neglecting themselves in fear of being too vain or self indulgent. This to me is an absolute shame. Feeling fabulous both inside and out is extreme nourishment for the soul and every person should penetrate their fullest potential on every level. No matter what age, anyone can be truly beautiful.

Beauty is all around us. Appreciating and cultivating your unique beauty is your own Divine right.    

KISS (keep it simple, sugar)

Taking proper care of your body doesn’t need to be expensive or a hassle and once you establish a routine, in can actually be a lot of fun! I always try to keep my beauty regime as natural as possible. There are just too many synthetic ingredients found in beauty products which can aggravate the skin and cause unwanted side effects.  

Beauty always starts from the inside. It’s terribly cliché, I know, but true. No procedure is more powerful than proper nutrition, light exercise, yoga and meditation.

Your skin is the largest organ of the body and if you’re out of balance somewhere internally, the effects will always show up on the skin in some embarrassing form. Drink plenty of water consistently throughout the day to flush toxins from the body. Please don’t wait to feel thirsty before drinking. If you do, you are all ready well on your way to dehydration and depriving your organs of essential moisture. If urine isn’t clear when you pee, you need to consume more liquids.

My drink of choice has always been green tea for its beneficial antioxidant potential. I always keep a mug of green tea handy and sip it consistently throughout the day wherever I go.

Yoga is by far my favorite type of exercise. The long term health benefits of yoga are precious and invaluable. Yoga not only teaches us how to quiet our minds and reach tranquility, but the gentle stretching techniques (known as asanas) allow our bodies to age with grace and strength.

My other favorite exercise has always been hiking. By walking at least 45 minutes at least three times a week, you’re getting superior health benefits without needing to worry about fancy or complicated exercise equipment. And the best part, it’s absolutely free.    

Abide by your own inner clock. Always listen to your unique body triggers for guidance. When you’re feeling sore, do some light yoga and stretching for fifteen minutes. Feeling drowsy? Take a quick power nap - twenty minutes usually suffices.  

Your body will always let you know when it’s time to rest, relax, eat, sleep and play.

Make time for quiet meditation in your daily routine. Nothing deteriorates loveliness quicker than stress, and meditation will help unlock the inner Divine to help you feel connected and vibrant.

~¤ Healing always begins from within ¤~

Ready to play mad scientist in your kitchen and concoct some savory beauty recipes? Dabble into these simple and inexpensive, yet highly effective secrets. I’ll start with what I refer to as “The Big Three”. These are the essential beauty items I keep well-stocked in at all times and would feel helplessly lost without.

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Vaseline is by far my favorite skin softener for problem areas. Top make-up artists also love using Vaseline on models like Kate Moss to give their skin that lovely dewy glow. Marilyn Monroe used to layer tons of this on while pairing it with baby powder to make her skin appear translucent and ethereal. 

Vaseline can feel very goopy and heavy. The key here is to apply a very light layer at a time (a small dash of this stuff goes a long way), and always try to use on moist skin.  If it feels too thick or greasy in your palm, mix in a bit of water. You don’t need it everywhere; apply a small amount of Vaseline at night to where your skin tends to feel the driest. (This happens to be the creases on the side of my nose.)

As an added bonus, it’s one of my favorite lip glosses as well. I run a toothbrush over my lips to get rid of dry skin and immediately apply a smidgen for irresistibly soft puckers.

If you suffer from very thin, stubby eyelashes like I do, Vaseline is a beauty must-have. I coat both sides of my eyelashes with a tiny amount and allow it to set for ten minutes. Then I use an eyelash curler and, wow! The transformation is astonishing. My eyelashes are now lovely, thick and elegantly long. I’ve never spent a penny on mascara because this technique is so dramatic and effective.  

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Apple Cider Vinegar with Mother is a miracle juice in a bottle. As someone who suffers from horribly dry skin in the winter, this is my holy grail for both dermatitis and acne blemishes. I mix 50% ACV with Mother and 50% tepid water in a small spray bottle and spritz it all over my face when my skin feels irritated and flaky. The ACV evens out the skin tone, kills bacteria, balances my skin’s pH levels and is a supreme blood purifier.

Suffering from dandruff? Add a generous amount of ACV with Mother to bath water, lean back to immerse entire back of head up to hairline and gently massage scalp with fingertips. Do this a few times a week and you’ll be amazed how quickly pesky dandruff (caused by bacteria and yeast) disappears. This also removes all the buildup gunk in hair. Enjoy your new silky soft mane! And don’t worry about the strong vinegar smell lingering in hair - it quickly dissipates.  

I love this stuff so much, I even ingest a tablespoon of ACV with Mother every day internally for its blood purifying properties and for a boost of energy. Just be careful - the acid may wear away at tooth enamel when used over the long term. To counter this problem, add a tablespoon of ACV with Mother to hot water (you can also mix in a bit of honey to mask the yucky vinegar flavor if the taste makes you gag) and try to sip through a straw, allowing the liquid to fall to the back of throat.

At times I’ll notice tiny bumps forming on my arms and chest, which is usually caused by dry skin and eczema when hair follicles become clogged with oil. When I notice these, I spritz ACV with Mother directly to the area and the little buggers disappear overnight. Any acidic based moisturizer will also work to unclog these little annoyances when they sprout up.  

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Raw honey is liquid gold for the skin. Honey kills bacteria, viruses and fungus and is an amazing moisturizer as well as another great counter to acne. This is by far my favorite homemade facial mask. Simply apply raw honey all over face and neck (the fingertips will warm the honey enough to allow it to glide on smoothly) and let sit for 20 minutes or more.

I love letting my honey mask sit on overnight. Since your skin warms the honey as you sleep, parts of it will dribble off onto the pillow. But for me the outcome is worth every bit of the small mess it creates. I don’t mind washing my pillowcases afterward because I’m always amazed at how calm, soft and glowing my skin feels in the morning after rinsing the honey off. I receive so many compliments on my complexion!

I slather honey on my lips as well for another great (and yummy) lip gloss - it makes lips unbelievably soft and the sugars in the honey are a natural exfoliator. Honey also has amazing healing properties and makes a great natural antiseptic. Apply honey to wounds to kill bacteria, lessen the probability of a deep scar forming and to prevent infection.  

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Here are some other useful beauty tips I’ve acquired over the years.

Need exfoliation fast? Open a sugar packet and add a few drops of olive oil, gently apply to your face and rinse with tepid water. Mix instant oatmeal and water for another wonderful homemade exfoliating mask

Brighten teeth instantly by gurgling with Hydrogen Peroxide. Swish in mouth as long you can stand (be careful not to swallow!) You’ll look like a rabid dog by the time you spit the solution out, but try to hold the foam in your mouth as long as possible for optimal whitening results.

Detoxify your skin … with kitty litter! This is one of those dirty little secrets you’ll pay hundreds of dollars for at the spa. You can have the same treatment in your own home for so much cheaper. Simply purchase a bag of 100% natural clay kitty litter (be sure to select a formula without clumping or any added chemicals or additives) and add a small amount of water to liquify. Apply to your face and entire body. Violà, an instant spa formula and invigorating mineral treatment!

Suffering from greasy, oily skin? Mash up a ripened tomato and apply the mush directly to your face. Leave on for at least 20 minutes and rinse with tepid water. Here’s another great recipe to unclog pores. Apply crushed cucumber pulp all over problem areas- it’s fabulous!

Getting itchy fingers and wanna mush up some more fruit? Try a banana this time. Smush a banana and add a tiny amount of honey to form a soft paste and apply the delectable goo directly to the face. Still have a few spare bananas on hand? Go ahead and eat one, then apply the smooshy rest to your hair as well. Now tell me beauty isn’t fun!  

Crisco is a highly effective moisturizer and another big secret among Hollywood beauties. Hospitals even use this stuff (disguised under a different name, cream “C”) to treat skin conditions, like psoriasis.

Use powdered milk in the bath for a natural lactic exfoliator and silky smooth skin - you’ll quickly realize why milk and honey bathes were adored by Cleopatra. Milk is also a beauty secret used among many in the fashion industry. Instead of cleansing with water, many models simply refresh their face in the morning with a splash of milk!

Need an instant face lift? You’ll spend quite a chunk of change at the beauty counter by purchasing firming creams to tighten your face up. Try this instead. Crack one egg, remove the yolk and beat the egg white until frothy. Apply the egg white froth generously to face and neck and allow to set for at least twenty minutes. But don’t plan on trying to move your face or eating for a bit! After a few moments, you’ll immediately start to feel the ‘tightening’ effects. Lightly rinse with tepid water when finished. 

Trying to lose weight but battling an irresistible sweet tooth? Consider jelly beans for a light calorie snack. Fresh fruit like strawberries and blueberries are an even sweeter alternative. Go ahead and mush some on your face while you’re at it (the fruit, not the jelly beans!)

To combat puffy swollen eyes, cucumber slices are the oldest beauty trick in the book. Don’t have any on hand? Try some of these other remedies instead. The potassium in raw potato slices works wonders for sore achy eyes and dark circles. Still stuck for a quick solution? Put two large spoons in the freezer for twenty minutes. Lay down, gently press the backs of the spoon to your eyes and say, “ahhhh”.  Hold for at least ten minutes to ‘wake up’ tired peepers.

Need a good conditioning solution for dry, brittle hair? Mix one egg, a tablespoon of honey and a tablespoon of olive oil and apply to wet hair. Cover with a shower cap and let sit for at least an hour before rinsing.

For a quick alternative to hairspray, dissolve a tablespoon of sugar in hot water in a spray bottle and wait for it to cool.

Dandruff can be stubborn and persistent, and dry itchy scalps are no fun. Soak scalp in Apple Cider Vinegar with Mother a few times a week as mentioned above. Add a large handful of crushed aspirin tablets to your favorite bottle of shampoo to further combat flakes.

For blemishes on face, try the famous aspirin mask. The acetylsalicylic acid in aspirin is excellent for oily, acne-prone skin. Dissolve three to five uncoated aspirin in water and apply to red areas and blemishes. Allow aspirin to penetrate facial pores at least twenty minutes before rinsing.

For a quick boost, bend over at the waist (pretend like you’re pulling your head toward your knees, but allow your head and arms to just dangle) and hold the position for at least 30 seconds. This will not only invigorate your entire body, but your complexion will also get a rosy boost as well. If you’re somewhere where you’ll look absolutely ridiculous doing this, take off your shoes and gently roll a plastic water bottle back and forth under the arch of your foot for another revitalizing effect.

For a nasty red pimple, apply a bit of Visine to a cotton swab and hold the swab on your blemish for twenty seconds.

Eat a snippet of parsley for instant fresh and kissable breath.

Traveling, but suffer from a weak stomach? Eat candied ginger or peppermint to instantly soothe an unsettled tummy.

Shave your bikini line using Neosporin (an insider trick of lingerie models and porn stars) for a smooth, soothing shave and to eliminate redness, irritation and bumpiness.

Buy Vitamin E and Vitamin A capsules from your local health food store. Prick open and apply to your favorite inexpensive moisturizer for added lushness without the expensive price tag.

I routinely apply a dash of self-tanner to face and arms for that sun-kissed glow - and skip makeup all together! Fake Bake was a favorite of mine in the past, but it also darkened facial pores so I switched to Clarin’s Self-Tanning Bronzing Gel. Experiment a bit with different products to see what works best on your skin tone. 

Build your own garden and you’ll have a majority of these beauty products right in your backyard. This year I spent less than $30 at the nursery for cucumbers, acorn squash, romaine and butter crunch lettuce, celery, broccoli, bell peppers, onions and tomatoes. My garden has flourished and I’ve saved a bundle on food shopping.  

What are some of your unconventional beauty secrets?

 ~†~ Baby Steps Are Key ~†~ Your beauty is your own unique canvas. Do something every day to make an effort to pamper yourself. Be playful with new ideas in your beauty ritual and indulge every part of your skin. Never be afraid to recreate yourself.
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The dirty little secret everyone in Washington knows - “We suffer from a fiscal cancer.”

David Walker, the nation’s top accountant and former comptroller general of the United States, is a highly respected public figure who has run the Government Accountability Office. (The GAO audits the government’s books and serves as the investigative arm of the U.S. Congress.) Below is a short clip taken during a candid interview with 60 Minutes last year, where Walker foreshadows an inevitable economic collapse if the United States government continues its present irresponsible fiscal policies.

A financial update. Oh baby, how far we’ve come

While rummaging through some older posts here on Broke-Ass, I stumbled across a lot of stuff I’d forgotten about. A post from last year showed how I’d gone from $0 in savings in January 2007 to $1,000 in savings four months later (see Surviving Paycheck to Paycheck? You Can Still Start Saving).  

It was a huge milestone for me. For someone who had never adequately been able to hold onto money for very long, I began to realize I could achieve anything I really put my mind to. This included learning habits that would aid my search in finding that elusive concept known as financial freedom.

Yesterday I decided once again to review my progress. I tend to have a ‘do it and forget it’ approach, meaning every time I receive money, at least 20% is manually deducted and siphoned away into some form of savings. (And, well, basically forgotten.)  A little over a year since my last financial update post, I have hit another milestone. Actually I was quite shocked when I added everything together and realized …

… I now have approximately $6,000 stashed away in some form of savings.

I’d also managed to clear a sizable chunk off my debt as well. In fact, if I remain aggressive on paying off debt as a main priority, I’m now on course to being debt-free within twelve months at the very latest. And the thought of no debt lingering over my head is exhilarating!

So what’s next on the financial agenda?

Preserving wealth amidst inflation

Preserving wealth right now means uncovering creative ways to keep the inflation beast at bay and preventing this rabid little monster from devouring portions of savings.  

If my savings account isn’t keeping pace with inflation, purchasing power is being diminished and I’m unfortunately becoming a financial loser. But isn’t putting a safety cushion of money into a savings account supposedly one of the ‘Golden Rules’ touted by financial advisors ad naseam for smart beginner investing?

Surprisingly I know many people who openly scoff at the interest rates attached to most savings accounts.  “But Jennifer,” they ask. “Why put money into the bank when I’m receiving such a pitiful return? With a tiny bit of effort, I can do so much better myself.”

So how are they doing it?

These folks say they recognize the importance of preserving their current wealth by always keeping a sharp eye out for opportunities. They’ve become experts in finding little niches that will help them keep pace with inflation (and possibly even net a profit in the process!) When federal interest rates start dropping is also when it’s crucial for savers to get their inventive juices flowing.

When the going gets tough, the tough get … creative!

Just to throw some quick questions at you - do you have a certain hobby that can be capitalized upon? Can current interests or skills be used as an asset for opening your own business? Do you enjoy collecting antiques or other collectibles or are you an avid coin collector and a fan of numismatics? Have you ever considered visiting estate or garage sales in your area for underpriced (unrealized) items?

The goal, they explain, is to invest your money in something that will keep its value and thus (hopefully) rise with inflation. It also needs to be an area you’re knowledgeable about and feel comfortable enough to park money into it. For example, many investors enjoy precious metals, such as gold and silver, as a hedge against inflation. Once you dabble your toe into a certain area, you can even try accumulating a bit of ’interest’ in the process.  

Here’s another example. I know quite a few who frequent both estate and garage sales and continually make a killing by arriving early and recognizing hidden treasures nestled among other junk. These treasure hunters are aware of the real value attached to many antiquities. They make handsome returns by buying low and selling high and have a lot of fun in the process. Consider becoming educated in a hobby or area of interest and you too may develop a niche and one day be a whiz in this type of ’horse trading’.

If I’ve learned anything from these pros, it’s this tidbit of advice. Start small and always keep cash on hand. You never know when an opportunity might present itself and you’ll want to be prepared to immediately pounce if it does. 

Unfortunately the sobering fact is, it doesn’t matter how much I’ve saved if inflation continues chomping away on my hard-earned dollars. So now it’s time to get innovative and try to prod this irksome inflation beast back to its insidious lair.

~†~ Baby Steps Are Key  ~†~ When interest rates are down, savers truly suffer. Use the internet (which allows access to a potential worldwide customer base) and other skills to your advantage to discover your own creative ways to both accumulate and preserve wealth. 

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Also check out the Carnival of Personal Finance for many great submissions on financial topics. A huge thank you to Mrs. Micah for hosting this week’s edition.

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In The Current Turbulent Economy and Financial Sectors, What Gives?

I’ve become somewhat of a CNBC junkie lately, which has resulted in some pretty bizarre sleeping patterns. It’s not unusual to catch me propped up on my pillows at 4am, munching on some Cheerios and sneaking in an hour or two of ”Worldwide Exchange”. Month after month I’ve held my breath and cringed as the Federal Reserve continues to slash key interest rates. The suspense! The horror! And most gut wrenching of all - the sheer anticipation as the world frantically wonders what card Bennie Bernanke will extract from his magical hat of endless financial illusions next.

Inflation is becoming a growing whisper of concern even among the stoutest of mainstream media. Some professionals insist official data has been skewed and inflation is rapidly approaching the 5% mark or greater. Amidst economists bickering back and forth about the particularities of what constitutes a ‘global slowdown’, a ‘recession’, a ’stagflation’ or a zesty myriad of other terms, one thought continues to become astoundingly clear.

Prices are going up. And at current interest rates, my savings are getting royally screwed.

The Demise of Debt?

As a novice in the financial arena witnessing it all as I lay wrapped snug in my blankie (yes, I still have a blankie!), it’s been a hell of a ride so far. Certain financial markets are roaring to life while others cool themselves into near oblivion.  In these daunting financial waters, investors scramble to find their potential life rafts. Will history continue repeating itself? Is our mounting national debt and insatiable consumerist desires about to nip us in the rear as we struggle to deleverage ourselves?

Well, I do know one thing. If everyone stepped out of debt today, it would certainly cause a catastrophic economic collapse.  Our entire currency is based off debt, meaning that every dollar you hold in your hand entails someone else needing to be in even greater debt for that dollar amount you’ve just stuffed into your wallet to even exist. If everyone simultaneously paid off their loans and refused to take out new ones, the entire financial system as we know it would come to a grinding halt. Quite a pickle to be in, don’t you think?  

Statistically it would be impossible for everyone to pay off their debts all at once anyway. When loans are made, the principle is zipped away to the wide expanse of the money pool (or total money supply). But we all know we’re not merely paying the principle amount back when we repay a loan - who can forget the exorbitant interest rates we shell out for the privilege of buying the latest shiny trinket with money we don’t have yet. So where does the interest money come from anyway? Well, it all comes from the same money pool - the one containing everyone’s initial principle. The one containing only the principle amount.

It’s a continuous game of musical chairs, folks, and this time the subprime mortgage borrowers didn’t grab a chair quick enough before the music stopped playing.

Those poor sods.

Debt Still Isn’t Kosher

With interest rates so low right now, it unfortunately doesn’t do me a lick of good stashing too much into a savings account. The wisest route will be to focus on aggressively tackling my debts. Unfortunately even if I didn’t have ANY debt, putting money into a savings account would be a losing proposition. So all remains quiet here and for the moment you can find me tucked into the wee hours watching the financial news and enjoying an early morning snack.

Just don’t expect me to peer underneath my bed. There may just be a big scary inflation monster peeking back at me.

~†~ Baby Steps Are Key ~†~  Money used to represent value. Now money represents debt - and debt is enslavement.

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Sayings of the Wise

By a continuing process of inflation, governments can confiscate, secretly and unobserved, an important part of the wealth of their citizens. ~John Maynard Keynes

In the absence of the gold standard, there is no way to protect savings from confiscation through inflation. ~Alan Greenspan

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Hey guys.

I just wanted to do a quick update. Obviously I’ve been away for awhile and have been feverishly absorbed in an investigative research project over the past eight month. As my research begins to wind down, I look forward to again concentrating on updating articles to this site. Lords knows, given the current state of our economy, there’s a wide array of financial material to cover. This site is probably due for a serious healthy overhaul as well.

I am amazed by all the readers who sent email over the past few months. Many of you have found yourselves in sticky financial situations and hounded relentlessly by debt collectors. I can personally say there is indeed hope - my own struggle with being sued over an invalidated credit card debt has given me invaluable insight and the experience turned out to be a blessing in disguise.

I hope everyone is enjoying the lovely spring weather as much as I am.

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Enjoying a dash of r&r

Well, I headed out of town to lose myself for a bit in the majestic Finger Lakes region of New York. There’s nothing quite like trekking through waterfalls and gorges to invigorate the spirit and clear my head. Now it’s time to absorb myself back into the grinding mentality of academic and regular work again.

During the next twelve weeks, I’ve decided to participate in an income tax preparation course. It’ll be interesting to see the knowledge I’ll glean from doing this (and will be sure to share any fruitful insights). At the very least the course will offer a solid basic understanding on filing income taxes, plus give me the added benefit of receiving an overview of how the entire system works.

If anyone has participated in an income tax preparation course, I’d love to hear your feedback and thoughts.

Later this week I’ll be exploring my financial progress. It’s also interesting to note that I still have not heard anything back regarding the lawsuit filed against me on an alleged credit card debt back in January.

(If you’re a new reader, you can catch up on that beauty of a tale at Broke-Ass Student Just Got A Whole Lot Broker).

All in all, I’m anticipating a peaceful autumn. But being a Western New Yorker, it’s only natural to begin bracing for the upcoming snowfall. We get pounded with at least one or two whopper blizzards each winter.

Western New York will also soon be celebrating the anniversary of a freak thunder-ice storm which clobbered us last year on (ironically enough) Friday, October 13th. The devastating thunder-ice storm downed tons of power lines and tree branches all across the region, leaving as many as 400,000 residents without electricity. The storm, also lovingly coined “Arborgeddon”, dumped up to two feet of snow and brought down many of our beautiful trees. Over 90% of this region’s trees were bruised in some fashion.

Oh, and yesterday for about ten minutes I could have sworn a monsoon blew through the city. I was driving home from class when a lightning storm began dropping hail balls and wind gusts of over 60 mph.

Ahh, to be home again.

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Developing a More Conscious Lifestyle

During the chaotic nature of life, it’s easy to become distracted and engulfed in day-to-day affairs. Every once in a while I feel a need to suspend all the buzz swirling around me and find a private sanctuary to curl up in for quiet contemplation.

Finances may feel important, but over obsessing about money is unbalanced and certainly not healthy. Whenever I feel overwhelmed in general, the following guidelines serve as gentle reminders which help bring things into greater perspective for me.

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• Don’t only do what is convenient. Learn how to make a deeper commitment and take a more radical responsibility for yourself. Build integrity by exercising the values and ethics which are important to you.

• Recognize the Divine in others through practicing respect and love. Although everyone has their own needs, each are different but equal.

• During conflict, don’t be limited only to your needs. Step outside yourself to consider the needs of others in a more compassionate manner. This helps manifest a positive solution for all concerned.

• Eliminate manipulation through demands, threats and passive-aggressive behavior. Only take from others what they are willing to give freely, and accept others for who they are.

• Let go of Ego and practice simply being in each moment. Rather than trying to exert control over circumstances, learn instead how to become present.

• Healing begins from within. Treat your body well through exercise and a well-balanced diet rich in grains, fruits and vegetables. Drink plenty of water each day, the rich honey of life.

• Volunteer your time. Use your creativity and energy to motivate and help causes which are important to you.

• Recognize that everything has a limit; the day, the night, even one’s own energy and time. No matter how great one’s perceived wealth, there always exists an extent to which one may enjoy it. Feel grateful for and humbled by your current unique blessings.

• Ever catch yourself saying, “I just don’t have time” or “I wish I had time to”? Take responsibility by recognizing that everyone has the same amount of time in each day and ultimately you decide how that time is used. Choose productively and wisely how you wish to dedicate each precious moment.

• Incorporate a quiet meditative practice into your daily routine. Prolonged meditation sharpens focus and enables you to think well, while awakening new levels of the Divine Self. Recent empirical studies are now recognizing how continued meditation physically enlarges and alters our brain.

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Recommended Reading:

The Harvard Gazette, Meditation Found to Increase Brain Size

The Washington Post, Meditation Gives Brain A Charge

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• Take the time to properly honor all the small steps leading up to where you want to be. Don’t miss the beauty of the journey, as each step is equally fulfilling and significant.

• Experience temporary sensory deprivation. Try fasting, taking an hour long vow of silence, or wearing a blindfold or earplugs for an extended period of time. This will enhance awareness of both body and breath, bring perspective and allow you to develop a deeper appreciation for each sensory organ.

• Change is inevitable and everything is constantly influx. Use this wisdom to react less to personal inner dramas and focus more on acceptance and being present.

• Instead of dismissing or burying negative emotion, become aware of fear, worry and discomfort to fully observe and experience it. This helps bring perspective and heightened awareness as you begin to understand the root causes of these emotions.

• Obtaining financial peace of mind means allowing your wealth to absorb unexpected expenses. Obsessing and fretting over financial situations which do not directly affect day-to-day situations sabotages this entire concept. As Marshall Glickman states in his book The Mindful Money Guide, “Getting into a tizzy about a small misfortune undermines the whole point of having any fortune [at all].”

• Take action. Don’t feel discouraged if progress feels slow. Just as a toddler learns how to walk one step at a time, it’s taking that baby step which is most crucial.

~†~ Baby Steps Are Key ~†~ Explore your unique purpose in life and discover what fills your heart with joy. There is never a better time to live fully and with integrity than right now.

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Sayings of the Wise

Drip by drip, a cup gets filled. -Unknown

“Begin doing what you want to do now. We are not living in eternity. We have only this moment, sparkling like a star in our hand - and melting like a snowflake…”
(Francis Bacon, 1561 – 1626)

“The most effective way to do it, is to do it.” -Amelia Earhart

The Master once offered a banana to an awestruck visitor who so venerated the gift that he hardly knew what to do with it. When the Master was told of this, he said characteristically, “Tell the silly ass to eat it.”

-Awakening, Conversations with the Masters by Anthony de Mello

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Here are current rates of some online savings accounts, as of August 15, 2007.

iGObanking 5.30% APY ($1 to open, no minimum, no fees, FDIC insured, compounded daily)

E*Trade 5.05% APY ($1 to open, no minimum, no fees, FDIC insured, compounded daily)

EmigrantDirect 5.05% APY ($1 to open, no minimum, no fees, FDIC insured, compounded daily)

HSBC Direct 5.05% APY ($1 to open, no minimum, no fees, FDIC insured, compounded monthly)

ING Direct 4.50 % APY ($1 to open, no minimum, no fees, FDIC insured, compounded monthly)

iGObanking still remains the top contender in terms of a low minimum of $1 to open, with no annual fees attached and an excellent high yield. I opened my first online savings account with iGObanking six months ago and have had a very positive experience overall. (You can click on these article titles to read more about my experiences with iGObanking.)

Battling Against the Risk of Inflation

All the above mentioned online accounts are attractive options for savings due to one inescapable factor eroding the value of our hard-earned dollar - inflation. US economic growth, on average, battles roughly a 3% inflation rate every year.

A wise investor knows they must seek out investments which will keep pace with continued inflation, or their money will lose essential purchasing power as the cost of living continues to increase.

If your savings are stashed at a traditional bank earning 1% APY or lower, the money is unfortunately losing value every year. And if your savings are tucked in an investment vehicle earning roughly 3% APY, you are just barely breaking even.

Consider this sobering example of inflation.

If $1 was invested in stocks at the end of 1925, your $1 initial investment would be worth $98.37 at the end of 1994, after inflation adjustment. However, if you had tucked that same $1 in your undies drawer instead of investing it, that $1 would be worth roughly 12 cents by 1994. (”A Guide to Growth Investing,” Ibbotson Associates, 1994 yearbook). 

Brett Machtig offers another example of the corrosive effects of inflation in his book Wealth In A Decade:

In 1965, on one of his annual trips to Las Vegas, a gambler named Jay won $25,000 after taxes at a casino. Just for reference, Jay could have purchased a modest home for that sum in 1965. Instead, he put the money in a safe deposit box, where it remains today. While the money has been gathering dust, the effect of inflation has made the money worth less than $7,000 in today’s dollars. If, on the other hand, he had invested the money in a tax deferred annuity at 8 percent, it would have been worth more than $270,000 by 1997  - ($76,000 adjusted for inflation) - about 11 times as much (assuming a 4 percent rate of inflation).

~†~ Baby Steps Are Key ~†~ When contemplating investment options, always consider the impact of inflation and the effects of your purchasing power over time

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Sayings of the Wise

“The wise man saves for the future, but the foolish man spends whatever he gets.” Proverbs 21:20

“Invest in inflation. It’s the only thing that’s going up.” Will Rogers

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Lillian Snow makes her debut

Early this morning, an itty bitty pink ball of mucous was lifted from her sheltered pod and let out an enormous squall. Lillian Snow scrunched open her eyes for the first time, as an exhausted Daddy stared in disbelief at his new glistening daughter.

After more than 18 hours of arduous labor, my brother’s baby girl had finally popped into the world.

What an amazing feeling it was to cradle that infant burping beauty and know I’m an Auntie now. And what would Momma Kat and Daddy Joe think if I passed along information on compound interest to my little niece?

From Wealth in a Decade by Brett Machtig:

Compound interest is truly amazing. If you were given $1.00 at birth and were able to double that dollar every year:

• At age 15, you’d have enough to buy a mid-priced car

• At age 18, you’d be able to buy a home valued at $130,000

• At age 22, you’d be earning $200,000 in interest from your investments if they were invested at 10 percent

• At age 30, you could own a $1 million home in over 500 cities worldwide

• At just over 43 years of age, you would be able to pay off the national debt of approximately $5 trillion

• Just in time for retirement at age 65, you would have amassed the tidy sum of $18,000,000,000,000,000,000. I really have no idea what the name is for that amount of money. Suffice it to say that you could give about $72 billion to every man, woman, and child in the United States (assuming a population of 25 million).

Not too shabby for some early investing.

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