I Will Teach You To Be Rich – Ramit Sethi

I will teach you to be rich
When it comes to weight loss, 99.99 percent of us need to know only two things: Eat less and exercise more.

WHY ARE MONEY AND FOOD SO SIMILAR?

Listen up, crybabies: This isn’t your grandma’s house and I’m not going to bake you cookies and coddle you. A lot of your financial problems are caused by one person: you.

 

On average, millionaires invest 20 percent of their household income each year. Their wealth isn’t measured by the amount they make each year, but by how much they’ve saved and invested over time.

Frugality, quite simply, is about choosing the things you love enough to spend extravagantly on—and then cutting costs mercilessly on the things you don’t love.

Context Matters: you’re probably right when you think your friend can’t afford those $300 jeans. I’ve been trying to be less judgmental about this. I’m not always successful, but I now focus on the fact that the sticker price doesn’t matter—it’s the context around it. You want to buy a $1,000 bottle of wine? And you already saved $20,000 this year at age twenty-five? Great! But if your friends are going out four times a week on a $25,000 salary, I bet they’re not consciously spending. So although it’s fun to judge your friends, keep in mind that the context matters.

Buffett realized long ago that having money doesn’t require you to spend it and that the money you don’t spend can be invested.

Of course, like buying, renting isn’t best for everyone. It all depends on your individual situation. The easiest way to see if you should rent or buy is to use The New York Times’s excellent online calculator “Is It Better to Rent or Buy?” It will factor in maintenance, renovations, capital gains, the costs of buying and selling, inflation, and more. You can find it at www.nytimes.com/2007/04/10/business/2007_BUYRENT_GRAPHIC.html

Your Money The Missing Manual – J D Roth

Your money, the missing manual
Nobody cares more about your money than you do. the advice that others give you is almost always in their best interest—which may or may not be the same as your best interest. Don’t do what others tell you just because they’re compelling. Get advice from various folks (and books like this one), but in the end, make your own decisions.

Action beats inaction. It’s easy to put things off, but the sooner you start moving toward your goals, the easier they’ll be to reach.

To build wealth, you’ve got to spend less than you earn.

American culture is consumption-driven. the media teaches you to want the clothes and cars you see on TV and the watches and jewelry you see in magazine ads. Yet studies show that people who are materialistic tend to be less happy than those who aren’t. In other words, if you want to be content, you should own—and want—less Stuff.

Caught Up in the Rat Race typically, as your income increases, your lifestyle grows with it. When your boss gives you a raise, you want to reward yourself (you deserve it!), so you spend more. All that new Stuff costs money to buy, store, and maintain. Gradually, your lifestyle becomes more expensive so you have to work harder to earn more. You think that if only you got another raise, then you’d have Enough. But in all likelihood, you’d just repeat the process by spending even more. Psychologists call this vicious cycle the hedonic treadmill.

Is this spending aligned with my goals and values?

Idea: Checklist before buying something.

40% of happiness comes from intentional activity—the things you choose to do. Whereas circumstances happen to you, intentional activity happens when you act by doing things like exercising, pursuing meaningful goals, or keeping a gratitude journal.

It’s not how much you have that makes you happy or unhappy, but how much you want. If you want less, you’ll be happy with less. this isn’t a psychological game or New Age mumbo-jumbo, it’s fact: the lower your expectations, the easier they are to fulfill—and the happier you’ll be. that’s not to say you should lead an aimless life of poverty; quite the opposite, in fact. But most people confuse the means with the ends. they chase after money and Stuff in an attempt to feel fulfilled, but their choices are impulsive and random.

 

The Checklist Manifesto – Atul Gawande

The checklist Manifiesto
The Checklist Manifesto: How to Get Things Right – Atul Gawande.

The results were so dramatic that they weren’t sure whether to believe them: the ten-day line-infection rate went from 11 percent to zero. So they followed patients for fifteen more months. Only two line infections occurred during the entire period. They calculated that, in this one hospital, the checklist had prevented forty-three infections and eight deaths and saved two million dollars in costs.

Of all organizations, it was oddly enough Wal-Mart that best recognized the complex nature of the circumstances, according to a case study from Harvard’s Kennedy School of Government. Briefed on what was developing, the giant discount retailer’s chief executive officer, Lee Scott, issued a simple edict. “This company will respond to the level of this disaster,” he was remembered to have said in a meeting with his upper management. “A lot of you are going to have to make decisions above your level. Make the best decision that you can with the information that’s available to you at the time, and, above all, do the right thing.”

No, the real lesson is that under conditions of true complexity—where the knowledge required exceeds that of any individual and unpredictability reigns—efforts to dictate every step from the center will fail. People need room to act and adapt. Yet they cannot succeed as isolated individuals, either—that is anarchy. Instead, they require a seemingly contradictory mix of freedom and expectation—expectation to coordinate, for example, and also to measure progress toward common goals.

When you’re making a checklist, Boorman explained, you have a number of key decisions. You must define a clear pause point at which the checklist is supposed to be used (unless the moment is obvious, like when a warning light goes on or an engine fails). You must decide whether you want a DO-CONFIRM checklist or a READ-DO checklist. With a DO-CONFIRM checklist, he said, team members perform their jobs from memory and experience, often separately. But then they stop. They pause to run the checklist and confirm that everything that was supposed to be done was done. With a READ-DO checklist, on the other hand, people carry out the tasks as they check them off—it’s more like a recipe. So for any new checklist created from scratch, you have to pick the type that makes the most sense for the situation.
The checklist cannot be lengthy. A rule of thumb some use is to keep it to between five and nine items, which is the limit of working memory. Boorman didn’t think one had to be religious on this point.
“It all depends on the context,” he said. “In some situations you have only twenty seconds. In others, you may have several minutes.”
But after about sixty to ninety seconds at a given pause point, the checklist often becomes a distraction from other things. People start “shortcutting.” Steps get missed. So you want to keep the list short by focusing on what he called “the killer items”—the steps that are most dangerous to skip and sometimes overlooked nonetheless. (Data establishing which steps are most critical and how frequently people miss them are highly coveted in aviation, though not always available.)
The wording should be simple and exact, Boorman went on, and use the familiar language of the profession. Even the look of the checklist matters. Ideally, it should fit on one page. It should be free of clutter and unnecessary colors. It should use both uppercase and lowercase text for ease of reading. (He went so far as to recommend using a sans serif type like Helvetica.)

 

Location Rebel Arsenal – Sean Ogle

Location Rebel Arsenal
Karl Marx “Catch a man a fish and you can sell it to him. Teach a man to fish, and you’ve ruined a wonderful business opportunity.”

*** The Art of Non-Conformity – Chris Guillebeau.

*** War of Art – Steven Pressfield

*** Influence – Robert Cialdini.

*** Trust Me, I’m Lying – Ryan Holiday.

*** The Personal MBA – Josh Kaufman.

*** Cashvertising – Drew Eric Whitman

*** Outliers: The Story of Success – Malcom Gladwell

 

Alan Lakein “Planning is bringing the future into the present so that you can do something about it now.”

TOOLS:

Optimizepress is a WordPress theme that does oh so much more than a regular theme. It allows you to easily set up squeeze pages, sales letters, membership sites and much more.

WooThemes: the easiest themes to make a killer looking website with no mad dev and design skills.

E-Junkie

Wishlist Member: Ever thought about creating a membership site?

Mockingbird: This is essential when planning new site designs. I’m not the most design oriented person in the world – far from it actually. But this gives me the power to map out the features I know I want in a website, hand it to a designer.

Trello: is the only solution (paid or free) I’ve found to work within my small business. It makes managing multiple projects incredibly easy. Oh, and it’s completely free.

Skitch: Have you ever wanted to easily show someone what you were looking at, scribble notes on it, and get their feedback? Now you can do this in a breeze with Skitch. This is an essential tool for sharing quick notes with friends and business partners

Last Pass: Quite possibly the greatest extension ever made. I have dozens (if not hundreds) of passwords.

Evernote

StayFocusd

Leechblock

Rescue Time.

Bold Notes.

Shoeboxed

Tweetdeck

Buffer

Klout

Canon Vixia HF200 HD Camcorder

Kodak Zi8 Camera

How to Travel the world for $418: This blog post by my buddy Steve Kamb has blown up, and been spread all over the internet and beyond. He details exactly how he went about getting an around the world plane.

Dan of Tropical MBA

Hipmunk: Travel and Hotels.

AirBnB: Need a place to stay, but don’t want a hotel? Enter AirBnB.

Pandora

Charles Schwab If you’re leaving the country, do yourself one giant ass favor and open up a checking account at Charles Schwab. Charles Schwab will reimburse you for any ATM fees you incur – anywhere. No more $5 surcharges,

Lifestyle Business Podcast

Caffeine Again: Mac only, but this is a super simple app that keeps your screen from dimming.