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WESTERLY – Washington Trust Bancorp Inc., parent of The Washington Trust Co., said Wednesday that its first-quarter profit nearly ...

Archive for February, 2010

The 4-Hour Workweek By Timothy Ferriss Review

February - 9 - 2010 Author: admin Respond

Note:  This is a review of the Expanded and Updated edition of the book, which I highly recommend over the original.

Timothy Ferriss seems to be one of the world’s greatest self-promoters these days.  Don’t get me wrong, his book is solid, his methodology works, and he definitely practices what he preaches, which is a breath of fresh air in today’s guru-driven self-improvement market.  Still, I can’t help but conclude the good majority of his success comes from his incessant self-promotion.  This guy is everywhere these days telling you how great he is.  Note to self:  constantly tell everybody how great you are.

I still think the whole concept of the 4-hour workweek is unrealistic for most people.  Most just people can’t break out of the 9-t0-5 mindset.  They are happy where they are in life, even if their favorite past-time is complaining about work.  There is nothing wrong with that.  They are not losers.  Just just value security and comfort over adventure and mountains of money.  After all, there is risk involved in embarking down Timothy’s path, much of it he hasn’t even conceived of yet.  But he will, don’t you worry.

The 4-Hour Workweek Delivers On All The Hype

But does it work?  Absolutely it does.  Like most good self-improvement products, this book does a stellar job of laying the practically infinite possibilities in front of you.  Tim makes it sound as though the world is your oyster.  And he’s not lying:  it is, but that’s not the primary strength of this book.  The thing about the 4-Hour Workweek is, it actually shows you step-by-step how to accomplish what it promises.

The book starts with a bit of inspiration.  By the end of the first chapter, you’ll be tempted to run in and quit your job first thing in the morning.  I wouldn’t recommend doing that just yet, but you’ll begin to see how a steady, secure, full-time job can be as much of a hindrance to your happiness as anything else.   Having money and living in a decent neighborhood is nice, but is that really what makes you happy?  Chances are you didn’t spend your childhood aspiring to be a middle-class work-a-holic.

The Nuts And Bolts

The rest of the book reads like an outline for an Entrepreneurship For Dummies book with a twist:  only businesses not requiring a full-time effort will be considered.  The concept of “loving-what-you-do” is exposed as the bunk it is.  Do you love what you do for a living?  Great!  But most people simply don’t love anything enough to want to spend their entire life doing it.  There are plenty of things I like doing, maybe even a few I wouldn’t mind spending 40 hours per week doing for the next 3 or 4 years.  But for the next 40?  No thanks.

Ferriss spends a lot of time on preaching about hyper-optimizing your productivity.  If you’re to get away with working just a few hours per week, you’ve got to make sure you actually get the job done on the rare occasion you do sit down to work.  The theory (it’s totally true, by the way) is that most people spend half their time goofing off at work, and the majority of the work they do get done during the other half of the day isn’t terribly important.  In short, most people invent work to do just so they can feel they’ve accomplished something.  Don’t let this be you.  You can accomplish just as much in 10 hours per week as 40 if you only do what truly needs to be done.

The muse section of the book (that is, the section devoted to creating semi-passive income streams) leaves a bit to be desired.  Ferriss offers broad methodologies to follow for finding good low-maintenance businesses to start, but practically no information you could apply today.  There’s plenty to start, of course, but you’ll still probably struggle for a year or two to figure out exactly what works and what doesn’t.  Still, the basic methodology Ferriss sites is pretty much what I use (significantly less-effectively than he describes, of course) and it does work.  It’s just not quite as easy as he makes it sound.  Still, 4 or 5 years of part-time work is probably more than enough to go from rank beginner to six-figures if you’re persistent.

The 4-Hour Workweek is absolutely, positively, without a doubt worth a thorough read or two.  The time-saving tricks and productivity tips alone are worth the price of admission.  While I already knew much of what Ferriss writes in this book, I still learned plenty.  Many of the online resources and odd time-saving tools were completely new to me, and I’ve delighted at exploring them for myself.  I’ve found Evernote and Dropbox particularly useful.  I now use them regularly.

The 4-Hour Workweek is an easy read in the traditional sense, but don’t think it won’t challenge you mentally.  It will have you questioning everything you’ve ever taken for granted to be true.  I suppose the most complimentary thing I can say about this book is it got my questioning what is and is not possible in life.  I realized that to most people, “impossible” really just means “I haven’t tried it yet, but I’m assuming it can’t be done.”

Buy The 4-Hour Workweek from Amazon.com and learn what it takes to live the good life without the usual 80 hour work weeks!

Saving Baby Announcements

February - 8 - 2010 Author: admin Respond

A couple we hang out are about to have their second child over the next couple of weeks. We were talking about the cost of having another baby in the house. There are so many things to consider and so many ways to cut down on the cost of having a new baby. I am going to look into finding some articles and suggestions more in depth.

The first thing we were talking about was baby announcements. It doesn’t seem like much but if you have a big family the postage and mailing can add up. I suggested finding a free webspace page like wordpress, myspace, facebook and making up a birth announcement page complete with information, pictures and comments for your friends and family to fill out. You can always email the link to your friends and family.

If you want, get the traditional mail outs and send them to your immediate family. You can always email everyone else and save a few bucks.

Effective Money Saving Tips for 2010

February - 8 - 2010 Author: admin Respond

What was your New Year resolution for 2010? At the beginning of each year most of us make new year resolutions like, spend less, lose weight, cut back on eating out, save money and the list goes on and on, but our ultimate goal really is to get more money or at least save more money.

Well, if you haven’t find a way to make more money by now, then your next best bet is to find ways to spend less and save more. Saving money is not an easy task, especially when we are used to a certain lifestyle. However, with a bit of hard work and looking at the bigger picture i.e., ‘the pot of gold at the end of the rainbow’ you can do it. The tips listed below are just a few ideas to help you reach your saving goals, and whatever you do –don’t give up!

  Only buy what you need – There is a big difference between buying what you want and buying what you absolutely need. Buying what you need takes precedence over splurging on things that you want. Read more…

Payday Loans Are Detrimental To Your Financial Health

February - 7 - 2010 Author: admin Respond

At some point, you may find yourself in need a little financial pick-me-up between paychecks. Emergency expenses can crop up at any time and when you are in need of quick cash, a payday loan can be a tempting offer. The true costs of a payday loan, however, are absolutely astounding and are usually swept under the rug by greedy lenders.  Needless to say,  a payday loan should be an absolute last resort.

Paydays loans are titled as such because one borrows cash with the promise to pay back the full amount plus interest on the next payday. There is an upside to payday loans, such as the ability to get a quick approval, access fast cash, and essentially all you really to initiate the process is a job and a bank account. Overall the process is relatively simple, which is likely one of the main reasons people fall into a cycle of payday loans and debt.

What’s The Bad News?

Payday loans may be convenient and in some cases even necessary for extreme emergencies but there are drawbacks to taking out a payday loan. For

Read more…

How to deal with credit card offer

February - 7 - 2010 Author: admin Respond

If you’re a someone who carries a balance, credit card offer might be the least thing on your mind right now. Credit card offer, no matter how enticing and convenient it might seem, may be the most expensive loans made by banks, department stores, and gasoline companies for you.

Sometimes, no matter how hard you try not to give in to the temptation the credit card provides, material cravings can sometimes be more powerful than the will of the mind. No matter how hard you try to resist the convenience and leisure the credit cards offer, you cannot help but to indulge. And the moment the credit card issuer offers you a card you can hardly wait for t to be approved and to use it to pay for items and services you fancy.

To avoid going beyond your credit limit, by now, you should know when to resist and indulge into the convenience the credit cards offering. K

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