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Archive for February, 2009

Achieving Success BLOG

February 28th, 2009 by Krayton M Davis | No Comments | Filed in Achieving Success

BLOG postings: (link to Achieving Success BLOG for PDF downloads)

Execute Success: The Evaluation Process

I saw a fleet of fishing boats . . . I flew down almost touching the craft and yelled at them, asking if I was on the right road to Ireland. They just stared. Maybe they didn’t hear me. Maybe I didn’t hear them. Or maybe they thought I was just a crazy fool. An hour later I saw land.
Charles Lindbergh

The steps outlined in these next postings will measure your progress on a daily, weekly and phase-to-phase basis. We have segmented the postings into the following discussions:

I: Daily Task Measurement.
II: Weekly Goal and Benchmark Evaluation
III: Weekly Role Evaluation
IV: Daily Character Attribute Evaluation
V: Weekly Character Attribute Evaluation
VI: Life Phase Evaluation
VII: Starting a New Life Phase
VIII: Objective and Goal Evaluation

Daily Task Measurement

A daily task evaluation measures your achievement of daily tasks. It’s a simple process. You check off each completed task and appointment as diagrammed by the letters “A” on the sample below.

Sometimes you will not be able to complete each task assigned because different priorities come up that force you to change your plans. Your daily schedules should be flexible. Your boss, family or other events may force you to alter your plan and reassign tasks to another time as diagrammed by the letter “B” on the Tuesday sample below.

This brings up a good question: What takes priority – your daily plan or other events that come up during the week? This is your call. Of course, an emergency meeting scheduled by your boss will take precedence over a scheduled task. And if your child or spouse needs your immediate attention, your plans may need to be rescheduled. But there comes a time when your scheduled plan must take priority. You will need to inform others that your time is currently occupied and that you can schedule some time next week to meet or complete another task. Learn to say ‘no’ when non-important events conflict with your pre-defined schedule.

Sometimes you will fail to complete the task within the time frame allotted. This is a common occurrence. We often tackle bigger assignments than time permits. Time is a valuable commodity and we are limited to 24 hours in a day. But the big difference between those who succeed and those who don’t is that successful people learn how to manage their time. Successful people watch less television, spend minimal time on menial chores, juggle several projects simultaneously and work aggressively fast to complete projects within assigned time limits. You need to develop these same traits to manage your time effectively.

You will be able to complete multiple tasks as you become more disciplined. But sometimes, tasks that you scheduled for “2 hours on Monday” will not get completed. You simply reschedule the task later in the week or into next week as diagrammed by the letter “C” on the Monday sample schedule and the next week’s Role Planning Sheet. One key rule in any time management program is to stick with your schedule. If you fail to complete the task as scheduled, place the work aside and move on to the next scheduled assignment. Uncompleted tasks at the end of the week can be scheduled for completion later on.

Next week: we discuss reasons why you will fail achieving your tasks.

You can find the day planning systems we are illustrating in this discussion in our FREE appendix file (Appendix as Form-N and Forms O.1-O.7 ).

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Housing Market Pummelled Once Again In January 2009

February 27th, 2009 by Matthew C. Keegan | 5 Comments | Filed in Home Buying, Home Construction, Home Financing, Home Selling, News

Are you thinking about buying your first home this spring? The federal government is offering first time home buyers an $8000 tax credit when they purchase their home. With home loan rates at fifty year lows and housing prices at their lowest levels in many years, now could be an excellent time for you to jump in.

Are you thinking about buying your first home this spring? The federal government is offering first time home buyers an $8000 tax credit when they purchase their home. With home loan rates at fifty year lows and housing prices at their lowest levels in many years, now could be an excellent time for you to jump in.

After a decent performance in some markets in December, the national housing market got slapped around in January as resales slipped by 5.3%. Resales include only sales of existing homes, not new construction.

According to the National Association of Realtors which tracks these numbers many buyers apparently decided to wait out the inauguration of Barack Obama to the US presidency before buying. Obama promised and has since delivered an important incentive to new home buyers in the form of an $8000 tax credit. This credit applies only to first-time home buyers, however.

Waiting on the Stimulus Package

Lawrence Yun, chief economist for the National Association of Realtors  said there was understandable hesitation by some home buyers. “Given so much stimulus package discussion in January, some would-be buyers simply sat out for clarity and certainty on the nature of housing stimulus,” he said. “The housing market will soon get a lift from very favorable buying conditions – not only from improved affordability, but also from the stimulus of an $8,000 first-time home buyer tax credit, and higher conforming loan limits that will allow more people to tap into 50-year low mortgage rates.”

And it is those lower rates which will likely cause many buyers to finally jump into the market this Spring.

Inflation Will Soon Arrive & Mortgage Rates Will Climb

Given that inflation is on its way, we’re not likely to see mortgage rates this low again for many years. Inflation is inevitable as the federal government prints more money to pay for expanded government services. That debt will have to be paid off eventually, but in the meantime the government will need to make interest payments. Most economists agree that the current low mortgage rates are not sustainable.

According to Freddie Mac, the national average commitment rate for a 30-year, conventional, fixed-rate mortgage fell to a record low at 5.05 percent in January from 5.29 percent in December; the rate was 5.76 percent in January 2008.

Bad News For Homeowners Is Good News For Home Buyers

Also in January the average price of an American home declined to $170,000 the lowest level in many years. For some homeowners, all of the gains they’ve realized over the past decade have been wiped out, leaving many more recent buyers under water with their mortgages. A mortgage is under water when the homeowner owes more on their home loan than what the home is worth.

Of course, this news is tough for homeowners, but it does present an opportunity for buyers. Though it is impossible to time the bottom of the market, the person who jumps in now and plans to hold onto their home for many years should find it to their advantage.

Source: National Association of Realtors

Resources

Home Affordability Tips

Home Buying Steps


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Managing Your Food Storage Space Wisely

February 26th, 2009 by Matthew C. Keegan | 14 Comments | Filed in Consumer Tips

Earlier this month SayEducate.com published an article titled, “Should You Stock Up On Groceries In Advance of Inflation?” Well, it turns out that this story was one of the most read of all of the 450+ articles published here so far, underscoring that a lot of people are thinking about controlling their food costs.

And for good reason too: food costs, which gyrated wildly in 2008 due mostly to high fuel prices, are likely to increase once again when inflation’s impact begins to be felt. Many economists believe that inflation is inevitable given the trillions of dollars of government spending our elected representatives in Washington, DC have been pushing over the past several months. Paying off that debt is one thing, but servicing it – making interest payments – is something else, likely to lead to higher costs for just about everything.

Inflation or Deflation, Your Food Budget Can Take a Beating

Even without inflation, many Americans are experiencing a form of deflation. No, prices may not be going down, but for many people their overall income has shrunk meaning that whatever they spend their money on will consume a greater portion of their budget. With many workers now unemployed or furloughed, holding costs down is essential. We all need to eat, but cutting back really isn’t usually an option especially with children in the house.

tin canAs mentioned in the earlier article, storing food can be a great way to lower your food costs and also prepare for the possibility that food shortages could occur. Last summer there was a run on grain products which temporarily reduced availability while driving up prices. Though ethanol production was blamed in part for that event (corn was used to make fuel not to feed people and livestock), widespread drought extending from Syria to Kazakstan to Pakistan has reduced crop yields in those countries. Oh, by the way, it just so happens that I mentioned one of the most politically unstable places in the world!

Essentials For Storing Food

Vicki Tate, who is the author of a book about food storage, “Cooking With Home Storage,” published an article, “7 Mistakes of Food Storage” which appears in Backwoods Home Magazine, an online publication for people who desire self-reliant living. In her article she outlined seven essential points to consider when storing food. They are:

  • Variety
  • Extended Staples
  • Vitamins
  • Quick and Easy Psychological Foods
  • Balance
  • Containers
  • Use Your Storage

Please visit our resource section which follows for a link to article which explains in depth how you can best prepare.

Setting Up Your Storage Space

Beyond the essentials, exactly how much room do you need for storing food and for how long? Well, there are several factors to take into consideration including the size of your family, amount of space available for storage and length of time for storing (that is, do you want to have a three month supply on hand or are you looking at a year perhaps longer?)

Some Things to Keep in Mind

Not everyone lives in a rambling house located on a large piece of property miles away from the nearest city. With America being a much more cosmopolitan place than ever before, a lot of us don’t have a lot of room to work with. Fortunately, you don’t need a lot of room, but there are a few things you should keep in mind:

A Cool, Dry Place – If you have a finished basement, then that area of your home is the logical place to set up a food storage area. You’ll need shelving to keep food off of the ground and you’ll likely need to put much of your food in air tight containers. Make sure that everything is properly labeled to show what it is, when it was first shelved and when it will expire. Visit our Resources section located at the end of this article for a link to a food storage guidelines website. Also, consider using a dehumidifier if your basement is prone to moistness.

What about a cellar instead of a basement? If your basement is unfinished, you may still be able to use it. You’ll want to make sure that it is dry, clean and not visited by members of the rodent family. Set up traps just in case and check the room or storage area several times weekly to make certain that your food supply is safe. Also consider converting a pantry, a section of the kitchen area or a closet for food storage. Of course, if you live on a farm then any sort of outbuilding might do.

Shelving, Containers, Usage – Any packaged food not in a sealed container is almost always vulnerable to the elements. Many home storage experts recommend transferring foods to a #10 tin can (pictured) which means that you’ll need to invest in a flywheel can sealer to do the job yourself. Serious food storage people invest whatever it takes to manage their food, but you may find that you don’t have the time, space, money or inclination to go to that extent.

Make sure that you rotate through your stored foods on a regular basis. If you have invested in food storage equipment, then you know that some foods can last for many years, not months. For everyone else, including people relying on store bought canned goods, following recommended expiration dates will ensure that the gravy you bought last year will still look and taste good next Sunday.

Variety, Why Not? — Your local Costco or Sam’s Club may have a great price on wheat, flour and dried fruit, but you’ll want to make sure that there is a good amount of variety in what you store. Some people like to draw down their food storage on occasion, spending several months feasting on what they have put aside. Unless you like pasta seven days a week or pancakes and waffles for each and every breakfast, you’re likely to get tired of eating the same ‘ole thing. Children especially want something different, so make sure that some sweets are included with what you store.

Finally, if you are setting aside a food storage area for the first time, you may find that your budget has been stretched to the breaking point. Instead of doing everything at once, why not start small and expand as time allows and your finances permit? For additional savings, split bulk purchases with other families and share or invest in equipment jointly if that is a more practical approach for you.

Resources

7 Mistakes of Food Storage

Continued Drought in 2009/10 Threatens Greater Food Grain Shortages

Food Storage Guidelines For Consumers

Tips To Reduce Family Living Costs


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Does Your Credit Card Issuer Want A Divorce?

February 25th, 2009 by Matthew C. Keegan | 4 Comments | Filed in Consumer Financing, Consumer Tips, Credit Cards

Here’s something new: The Wall Street Journal (WSJ) published an article in yesterday’s edition titled, “AmEx Encourages Cardholders to Leave,” where they reported that American Express was offering select customers an incentive to pay off their balances and cancel their accounts. That incentive is in the form of a $300 AmEx prepaid gift card, usable wherever American Express cards are accepted.

America’s Mailboxes Catch A Break

home valuesThe move by American Express is a surprising one, especially considering that as recently as a year earlier all of the major credit card networks were sending out offers right and left. That practice, which had been going on for many years, seems to have passed. Today, credit car providers are cutting credit lines, canceling accounts and, in the case of AmEx, offering an amicable divorce.

In the WSJ article, written by Mary Pilon, she noted that the card issuers are seeing a spike in defaults as the recession deepens. Worried that they might be over run with bad debt, issuers are taking unusual steps to make sure that higher risk customers are shown the door. For the record, American Express isn’t saying much about who is receiving their offer letters.

Customers who receive a letter have until February 28th to decide whether they’ll accept American Express’ offer or not. If they do, they’ll use a special RSVP code that when submitted online cancels their membership on the spot. They then have from March 1st to April 30th to pay off their balances and receive their prepaid card.

Closing An Account Has Its Drawbacks

If you receive such a notice from AmEx and are considering closing your account, there are a few things to keep in mind:

  • If you don’t use your membership reward points before closing your account, then you’ll lose them. Use up your points now, agree to the offer once they have been redeemed.
  • Your credit score will take a hit.  The way your credit score is calculated, closing an account even with an enticing offer dangled before your eyes from American Express, can lower your credit score at least temporarily. This means that if you plan on applying for additional credit later on, your terms could be less favorable. Who knows, but you may end up paying far more than $300 in interest for a mortgage, wiping out the worth of the AmEx prepaid card.

Be On The Look Out

If you don’t have an American Express card, your credit card issuer could offer to you a similar incentive to leave.  Regardless, all consumers need to be watchful for fee increases and higher interest rates, as issuers attempt to maintain profits in a down economy.

Adv. — Have you checked your credit report lately? How about your FICO score? As a consumer, you need to be on top of your credit history, checking for errors and making certain that the information in your consumer credit reports is accurate. Employers, banks, mortgage companies and other lenders base your credibility on a three digit score. Avoid surprises — check your credit report today!


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