“We often neglect the things we love, in favor of our likes and wants, because likes and wants tend to cost less and take less patience to acquire.” – The Budgetnista
BAM! Well said Budgetnista. The good stuff is definitely attainable but we always let those pesky likes get in the way slowing us down… It’s as if we were human or something ;)
But speaking of likes and wants, a fellow reader informed me that there are a few new coins for sale out there if anyone has some extra millions laying around… The “Ultimate Coin Collection” (ie Pogue Collection) will be auctioned off over the next two years, and is estimated to bring over $200 MILLION dollars. For literally a handful of coins.
It’s hard to imagine people spend more than others earn their entire lives on a little piece of silver or gold, but hey – wealth’s distributed/earned unevenly around the world, eh? And the idea you can own something that our founding fathers not only helped create, but also touched!, is enough to get any coin collector’s jollies off. I’ll just have to settle for early retirement instead ;)
This topic also got another buddy of mine talking too, (Brent from VOSA.com) and I thought his take was pretty interesting:
I often wonder when I’m holding money:
– who else worked their ass off to make this?
– who else decided to spend it?
– what has been bought with it?
– is it real?
So much history. If only money could talk!
If only! Open up your wallets/purses right now and just look at all those bills in there… Some of them took people hours/days to earn, while others use them for toilet paper since they’re so stinkin’ rich (not to get gross here, but paper money/coins are actually some of the dirtiest objects in the world. Do you know how many people have touched them before you? Have you ever seen anyone clean them up??)
Anyways, something good to ponder while you’re out there shopping and spending money this Memorial weekend :) All money was created equal, but the work and time that went into earning it is a completely different story. Give those bills the respect they deserve!
[And speaking of coins, thanks to everyone who participated in our Looney Tunes giveaway last week! The lucky winner of the Merry Melodies coin was Jean Pierre.]
In other money news…
In other money news… it was a pretty damn boring week. Which is good or bad depending on how you look at it. (I usually see it as a good thing since drama is seldom positive with finances ;)).
Here’s all the nothing that went down:
- New savings Digit saved me: $0.00 (Thanks guys!)
- New investments Acorns invested for me: $0.00 (Wow, you’re too generous!)
- A refund check that USAA sent me: $0.16 (Seriously, what did I do to deserve such adoration??)
Some fascinating articles I read this week:
How to Lose Time and Money by Paul Graham — Some of you will know who this guy is as he founded the YC start up accelerator as well as a number of other things, but what’s interesting about it is the way his mind shifted when he started making a lot of money and figuring out how to protect it. Not only that, but also how easy it is for us to confuse busy work with good work. If you only read one article this weekend, this one should be it.
The oddly uplifting story of the Apple co-founder who sold his stake for $800 — Remember that tweet last week about that unknown Apple founder – Ronald Wayne – who’d be a millionaire right now if he had stuck with them? Well this is a more in-depth look at what happened and where he is now :) (Hat tip to Pengepugeren for recommending this to me – you were right, it’s awesome!)
Buy Nothing Project — This is a group/movement going on where communities are trading stuff instead of buying stuff. Fellow reader Jennifer turned me on to this, and although I haven’t participated in it yet I do very much love the idea :) Maybe there’s a group around your hood?
New books by financial bloggers:
There are two new books out by personal finance bloggers if interested (I like to share this stuff here because unlike “normal” books you find, bloggers typically keep it more real and share personal stories along with the info. Which is my favorite parts about blogs – real life numbers and stories!)
Next Round’s On Me: How-to Achieve Financial Freedom in Your 20s by Martin Dasko (blogger behind Studenomics.com). I’ve known Martin for almost 7 years now and have shared many a beers together, and I can confidently say that I don’t know of any other partier – especially in their 20s – that as figured it out like he has. This dude owns real estate, travels the world, parties like a mad man, and still continues to grow his wealth throughout. How? You’ve got to read to see ;) Or just buy him a beer and he’ll tell you all for free – hah. Seriously though, smart kid.
Simple Guides to Debt, Credit, and Wealth: Volumes 1-5 by Kurt Fischer (blogger behind MyMoneyCounselor.com). I don’t know Kurt as well as I would like to, but I’ve been reading his blog over the past two years and have featured him on Rockstar Finance many a times. Completely different style as Martin above, but still very helpful. That link above goes to the compilation of his 5 simple guides, or you can pick off any of them separately for just a few bucks:
- Vol 1: Be Debt Free!: The simplest, fastest system to kill your debt
- Vol 2: Build Wealth WITHOUT Stocks: Free yourself from the myth that you must buy stocks
- Vol 3: Raise Your Credit Score the Right Way: Save money and open doors
- Vol 4: Settle Your Debt in 10 Easy Steps: Pay off an overdue debt for much less than you owe
- Vol 5: WIN the Battle with Debt Collectors!: Feeling harassed? Get the upper hand
New $$$ companies that came across my desk:
Stratos Card — This is one of those all-in-one cards that allow you to combine your plastic cards onto a single smart card. “You can load your credit, debit, loyalty, membership and gift cards onto the Stratos Card and use it anywhere your traditional cards are accepted.” Pretty good idea, although certainly not new (remember Coin from a couple of years back?). They’re getting a lot of press lately, however, and recently just won “Best of Show” at Finovate – the world’s financial technology conference. The card is free, but you pay a yearly membership for it ;) $95 and I think there’s a waiting list… Anyone have one already?
Haven Life — These guys just went live this week and bill themselves as the first ever place where you can buy term life insurance completely online:
“Until Haven Life, there wasn’t a way to purchase a fully underwritten term life insurance policy entirely online. You could calculate your needs and receive a quote online, but after that, your application would be sent through traditional channels or through a cumbersome call center process. That process usually takes between four and six weeks. Now, you can calculate your own needs, fill out an application, and purchase the Haven Term policy entirely online.”
They’re only available in Massachusetts right now, but I chatted with them on the phone to learn more, and they say they plan on rolling out to other states as the year progresses as well. They’re also owned and backed by Mass Mutual which many of you have probably heard of before. And as a big fan of term life insurance myself – and quick and easy applications, for that matter! – these guys might be on to something. And definitely have the best tagline ever in the industry too: “If life insurance could start over, this is what it would be.” BOOM!
Instavest — Remember how I used to copy Warren Buffett years ago? Where I’d literally just invest in all the stocks he was investing in because I knew he was 1,000x smarter than me and already did the research so why bother even doing it? ;) Well, these guys pretty much built a company around just that: copying what other investors are doing in a Facebook-ish type way. Only the person you’re copying gets rewarded with a portion of your profit (you choose how much to give) if they happen to make you money, and they’re vetted before you even see what they’re recommending. (Also – all the investing runs directly through Instavest)
It sounds weird/crazy/illegal?, so I hopped on the phone with them too (why not, right? ;)) and their founder, Saleem Khatri, assured me it’s all aboveboard and legit. And he knows a thing or two of that having worked in the US Treasury for a few years, as well as being shot through YC’s start up accelerator program founded by that same person whose article I just gushed about above there ;) We’ll see how successful it becomes or not, but def. a clever idea for sure.. Especially if you like stock trading (vs, say, indexing like yours truly. I’m still lazy, just in a different way now – hah).
And lastly, if you love the smell of money….
There’s a new alarm clock coming soon: SensorWake – an alarm that will release different scents to wake you up instead of music/annoying beeps ;) And money is one of them – hah!
The inventor, 18-year-old French entrepreneur Guillaume Rolland, apparently won Google’s Science Fair and will soon be launching a fundraising page on Kickstarter to start pushing these bad boys out there. Entrepreneur.com had a good write up on it if you want to learn more: This Aromatic Alarm Clock Wakes You Up to the Sweet Smell of Money
And that’s it for this week, friends… Y’all have a fun (and safe) Memorial weekend out there, and don’t forget to respect those dollars! Remember how much time and effort went into procuring those bad boys, so make sure they’re being used wisely. I don’t want to have to call the Money Cops on you… My very own invention that will soon be funded on Kickstarer – whammo!
[Dollar bill shot by dno1967b]
Jay loves talking about money, collecting coins, blasting hip-hop, and hanging out with his three beautiful boys. You can check out all of his online projects at jmoney.biz. Thanks for reading the blog!