I haven't read it, but I've also heard that Fooled by Randomness is good; maybe I'll read these two back to back and see what comes up. Against the Gods also has admirers, but IIRC it was a trifle disappointing. There are also books about more general cognitive biases, e.g. Cialdini's Influence, that may be useful to frugal folk.
(The links are to LibraryThing, since that is the service I subscribe to. They are available on Amazon, &c.)
This book sounds like Innumeracy. I'm a big maths geek, so I love this sort of stuff. Although, I'm always concerned that I'll be the defendant in a trial and be wrongfully convicted because neither the jury, nor the expert witness understood statistics. Has actually happened in the UK to at least 2 people - the Royal Statistical Society complained about the trials, but that wasn't pointed out until they were up for appeal.
Sorry for the long comment but some context needs to be give to some points made above...
The article mentions that you can get your water tested from an independent source. This is good advice, especially if you are on private well water. However, there are many homes that are supplied by a reservoir via a municipal supplier. I recently installed a water softener and simply downloaded the latest water audit from my water company. These semi-annual reports are audited by the EPA and will clearly state the hardness level as well the specific mineral content. Water softeners are not a one size fits all and should be spec’ed to your specific mineral content.
A comment was made that to help reduce costs you should only run softened water only to washing and cleaning areas. This would require two independent water piping systems, one for soft water to a washing machine, sink etc and another to everyplace else. This would be very expensive to install. The better approach is to run soft water everywhere with the only exception being water provided for gardening. The salt in softened water will do damage to grass and landscaping.
Someone posted a comment above and was concerned about the costs involved both on salt and electricity. In my house, there are 2 adults and 2 small children. My wife is home all day with the kids and we use water (baths are a daily event). I add 1, 40 lb bag of salt per month ($5 per bag) for a total yearly salt cost of $60. The electricity used is minimal. The unit uses a transformer similar to the one you used to charge your cell phone. It may use 4 or 5 watts of power per month, about $20 per year for electricity.
Let’s compare, your one TV uses about $25 per year in vampire electricity just waiting to be turned on. That’s just one TV, now times that by the average 3 TVs in most homes and you’re flushing $75 per year. Same with your DVD player; $25 per year in vampire costs. A lot of people leave their cell phone plugged in 24 / 7, not realizing that even when your phone is not charging that transformer is using power, about $20 per year in vampire electricity. My point is that a water softener is not an energy hog and if you concerned about your electricity usage, unplug your TVs from the socket when their turned off. You’ll instantly recoup the entire cost of running your softener.
Finally, hard water has disastrous effect on many water items in your house, most notable your water heater. Your water heater will build up huge amounts of scale on the inside and will reduce its life by several years. You’re water heater will run much less efficiently than designed when filled with this scale and you’ll have less hot water per BTU input. If you have an eclectic hot water heater the inefficiency will be magnified even more. The heating elements get incrusted in scale and therefore uses much more energy to heat the water to the same degree compared to non-scaled heating elements. So instead of spending $1,200 per year on heating your water, you’re now spending $2,000 and still not getting the hottest water. Net that against the $80 per year to run a softener and you’re $720 in the black. Gas fired water heaters have a bit better story but not much. Scale settles to the bottom of the heater and creates a layer that insulates the water from the burners. If you have hard water and no softener and have noticed less hot water or you run out more quickly, chances are the inside of your heater is incased in scale.
Oh, one more thing. Hard water and smeller water are sometimes two different things with two different solutions. If you have smeller water (it’s actually sulfur in the water) you can eliminate that by installing a very inexpensive charcoal filer under the sink. You may not have hard water but just a high sulfur content.
Thanks for the review, and the change to win a copy!
Judging from the comments on the "win this book" thread, there are many people like me who have been regulars here for a long time but just needed something like this to convince us to register. You've started a great registration campaign!
It's extremely unlikely that 6 percent commissions will survive this decision.
Why? Real estate brokers rely upon what economists call "information asymmetry." They have info that others don't, and can thereby exploit it for profit.
That information asymmetry now no longer exists.
Real estate brokers are extremely overpaid for the amount of work they do, and the amount of schooling and certification they have to undertake to do that job. Think about it: The plumbers, electricians and carpenters who actually built those same houses have far more specialized knowledge, and they get paid far less per hour worked.
The only thing justifying those outsized paychecks for real estate salespeople was their possession of certain information that others did not have. And that era is now over.
All the used-car salesmen and other lazy, low-to-medium-IQ types who drifted into the profession for easy money will soon be out of luck.
Those who can sell houses more efficiently will very quickly drive them out of business. The 6 percent commission will be very soon be driven down or gotten rid of outright by competition. Look for flat fees by online brokers soon.
Hi- we've had the WiiFit since first day of release. As an adult woman in my late 40's & I've used it about 12 times. I bought it to help me with my horrible balance. And it has! I'm now doing much better on Yoga poses (even the one legged ones!) and strength exercises. I agree with previous comments that the part that really keeps you on track is the BMI calculations and charting. A great feature.
This feature is also very good for kids. It allows them to view their BMI & weight in a "cartoony" game way & gives them goals to shoot for without having a adult have to set it up for them. A great way to provide feedback for kids on their fitness level.
Credit counseling is not always the answer. What a credit counseling or debt consolidation company does actually destroys your credit. They tell you to stop making your payments and they notify your creditors that you are in this process. Meanwhile what they don’t tell you is that all your debts are going into collection status. Then they go in there and settle your debt with the creditor for a portion of the amount which you can do yourself! Regardless if the company is non profit, they still make money by paying themselves high salaries... non profit is a lot of the time just a fancy loophole. Please research carefully before signing up with any debt consolidation or debt settlement company.... it's worse than a bankruptcy. If you can’t pay your debts you most likely are better off filing BK anyway at least that way you will have a chance at re-establishing your credit years before debt settlement. Please call me with any questions. I will be more than happy to look over your situation and point you in the right direction. If you are already in a bad credit situation, I can help, if not, a little free advice sometimes goes a long way.
Alina D. Nicol
Senior Account Executive
EZ CREDIT REPAIR LLC., anicol@myezcreditrepair.com
myezcreditrepair.com
TOLL OFFICE (866) 979-1099 x207
DIRECT IP LINE (702) 487-3401
Keep a "happy" file of nice notes, projects that turned out well (including scope, impact and your role), awards, etc., that you get while at work. So much of the time when I talk with people about the areas in which they excel at work or ask for specific information about projects they worked on, they are stumped.
Keeping accomplishments in one spot - an electronic or regular file folder - will help when asking for a raise, updating your resume or even for getting to the big picture of what you want to do next. Looking at ones accomplishments and asking, "What did I love doing that I'm really good at?" will help inform career decisions. Plus, it's a great lift for a gray day!
I agree with you Connie. Having a great product, great training and a CAN DO attitude is necessary for success in any business. My husband and I retired from our 6 figure jobs in 1 year exactly after starting our first MLM. We are financially free and are blessed to have come across an opportunity like this especially, in a declining economy. Too bad for the nay sayers, they will remain where they are in life always blaming others for their own lack of participation. Never knowing the good life!!
My husband and I have been in our first MLM business for the last 10 months and I am so excited to say, My husband and I are both retiring from our (six figure income) Full-Time JOBS September 2008. If this is a cult, it's the best cult I have ever seen. We have been blessed beyond!We have replaced both of our incomes with our Part-Time business.. There is a time where you must put down the books and actually go out and do the activity.. Once you do the activity, it's just a matter of time when the results will happen. Maybe you did not have a good product. I don't know why it did not work for you. However, the truth is, only 2% of Americans are wealthy, and only 3% are financially free! Wow, in the land of plenty this is pretty interesting to say the least!
I have done some long-distance trips on Amtrak, and agree in part: Amtrak is great for a long-distance trip, if the train ride is part of the fun.
When I travel by air, I try to ignore the actual travel part as much as possible, because it's so miserable. If you're going to do that, traveling by train is a poor choice--it takes too long and costs too much. But, if you're a "getting there is half the fun" sort of person (or are on that sort of trip), then Amtrak is a great choice.
Amtrak can sometimes run behind schedule, but so can airplanes. I've been 4 or 8 hours late many times when traveling by air--twice I've been very nearly 24 hours late.
Wow. Um, not only is drilling into a person's gas tank a complete jerk move but... drilling into metal may cause sparks. (Not all gas tanks are plastic, especially on many trucks & SUVs.)
I hate traveling with Amtrak. They have one of the worst reputations for being delayed or having problems on the track.
I traveled with Amtrak a couple years back and they were four hours late getting into the station. Not only this, but it was an overnight train trip to New Mexico. We were supposed to arrive at 10 in the morning. We arrived 8 hours after our scheduled arrival even with the four hours extra included. This was an awful experience that did not make my experience worth while. Granted I did go a couple of years ago. It could have changed since then.
I would travel short distances on Amtrak if I didn't have to worry about time. I would not suggest cross country travel.
For non-perishable items that one uses regularly, BOGO is definitely a bargain. Houses? Maybe not so much. But BOGO works for your milk example, too. Milk freezes just fine (though it takes a full day to thaw out!). Freezing it means those "use by" dates will make you crazy, but a black Sharpie takes care of that.
I don't mean to be a conspiracy theorist, but I think gas shortages are helping raise the prices of gas. It's exactly what Enron did in California when they controlled the power stations and told them to shut off the power. This boosted huge profits when it raised the price of electricity. Enron received huge revenue profits. I don't want to say this is it, however it is something to think about.
I really enjoy photography. It is one of my favorite activities. It allows me walk around and get a different perspective of something. I think this article is great at pointing that out. If only we stop and look at the world around us we would be able to escape our everyday routines.
Another cheap idea for travel is to drive out to a random town and take a walk around to look at what they have to offer. Almost every town, big or small has a museum or city hall displaying some of their history. I had to do this for a class project in highschool. Now I love to just go and photograph small towns. It's also a great physical activity.
I am also new to the "Real World". I had the chance to study abroad for a semester when I was in school. It is a great experience to travel and it opened my eyes to the world and everything around me. I am a little confused and bewildered but this gives me the opportunity to find what I want and what I'm looking for. Having financial freedom is a little frustrating, however I feel that I can manage. I do plan to go back to school for my masters. I believe everything you say is important. I just hope that I can follow where I want to go.
any parent who uses a bottle for any reason must not care about health at all. this also goes for any parent who has not purchased her child an organic crib mattress, who lives in any housing built before 1980, who makes use of childcare, and, oh, let's see...
If you must know, jyl, I'm breastfeeding as I type this and my second child refused to ever drink from a bottle at all. But since not all parents are exactly identical to me (some have jobs, some are unable to breastfeed, some have already weaned, to name just a few examples) I thought this information might be helpful to some.
I live in LA too and our neighborhood is excellent for walking IN but not AROUND. Quiet, meandering streets full of young families and dog-walkers line our residence in the Northeast valley of the city. Great cardio walks are combined with unique houses and eclectic sights. Unfortunately, a 1 mile jaunt to the bottom of the hill leaves you in the gang-riddled, illegal alien infested slums of Mexico, a Tony Villar safe haven that is all too common in the City of Angels. I'd check my score on the website but I'm not leaving the confines of my neighborhood on foot ever! To do so can be suicidal.
Ryan has a case study of bootstrapping in his book and I mentioned it in points 1 and 2 so, you no, don't have to go into debt to build a business. Though you do have to be prepared to live uber-frugally and do everything from managing key account relationships to cleaning the floors. In some scenarios, trying to do too much yourself can actually choke sales growth and kill a business as easily as going into too much debt (Ryan mentions that as well, also with a brief case study).
The primary audience of Zero to One Million is the entrepreneur in technology, biotechnology, energy, or consumer goods industries, probably with valuable Intellectual Property; VC funding might make sense if the company wants to grow quickly or needs to grow quickly to capture the market and establish dominance.
Still, there is useful information even for the person who wants to run a smaller business.
I haven't read it, but I've also heard that Fooled by Randomness is good; maybe I'll read these two back to back and see what comes up. Against the Gods also has admirers, but IIRC it was a trifle disappointing. There are also books about more general cognitive biases, e.g. Cialdini's Influence, that may be useful to frugal folk.
(The links are to LibraryThing, since that is the service I subscribe to. They are available on Amazon, &c.)
This book sounds like Innumeracy. I'm a big maths geek, so I love this sort of stuff. Although, I'm always concerned that I'll be the defendant in a trial and be wrongfully convicted because neither the jury, nor the expert witness understood statistics. Has actually happened in the UK to at least 2 people - the Royal Statistical Society complained about the trials, but that wasn't pointed out until they were up for appeal.
This book sounds a lot like CHANCE. Interesting topic.
Sorry for the long comment but some context needs to be give to some points made above...
The article mentions that you can get your water tested from an independent source. This is good advice, especially if you are on private well water. However, there are many homes that are supplied by a reservoir via a municipal supplier. I recently installed a water softener and simply downloaded the latest water audit from my water company. These semi-annual reports are audited by the EPA and will clearly state the hardness level as well the specific mineral content. Water softeners are not a one size fits all and should be spec’ed to your specific mineral content.
A comment was made that to help reduce costs you should only run softened water only to washing and cleaning areas. This would require two independent water piping systems, one for soft water to a washing machine, sink etc and another to everyplace else. This would be very expensive to install. The better approach is to run soft water everywhere with the only exception being water provided for gardening. The salt in softened water will do damage to grass and landscaping.
Someone posted a comment above and was concerned about the costs involved both on salt and electricity. In my house, there are 2 adults and 2 small children. My wife is home all day with the kids and we use water (baths are a daily event). I add 1, 40 lb bag of salt per month ($5 per bag) for a total yearly salt cost of $60. The electricity used is minimal. The unit uses a transformer similar to the one you used to charge your cell phone. It may use 4 or 5 watts of power per month, about $20 per year for electricity.
Let’s compare, your one TV uses about $25 per year in vampire electricity just waiting to be turned on. That’s just one TV, now times that by the average 3 TVs in most homes and you’re flushing $75 per year. Same with your DVD player; $25 per year in vampire costs. A lot of people leave their cell phone plugged in 24 / 7, not realizing that even when your phone is not charging that transformer is using power, about $20 per year in vampire electricity. My point is that a water softener is not an energy hog and if you concerned about your electricity usage, unplug your TVs from the socket when their turned off. You’ll instantly recoup the entire cost of running your softener.
Finally, hard water has disastrous effect on many water items in your house, most notable your water heater. Your water heater will build up huge amounts of scale on the inside and will reduce its life by several years. You’re water heater will run much less efficiently than designed when filled with this scale and you’ll have less hot water per BTU input. If you have an eclectic hot water heater the inefficiency will be magnified even more. The heating elements get incrusted in scale and therefore uses much more energy to heat the water to the same degree compared to non-scaled heating elements. So instead of spending $1,200 per year on heating your water, you’re now spending $2,000 and still not getting the hottest water. Net that against the $80 per year to run a softener and you’re $720 in the black. Gas fired water heaters have a bit better story but not much. Scale settles to the bottom of the heater and creates a layer that insulates the water from the burners. If you have hard water and no softener and have noticed less hot water or you run out more quickly, chances are the inside of your heater is incased in scale.
Oh, one more thing. Hard water and smeller water are sometimes two different things with two different solutions. If you have smeller water (it’s actually sulfur in the water) you can eliminate that by installing a very inexpensive charcoal filer under the sink. You may not have hard water but just a high sulfur content.
Thanks for the review, and the change to win a copy!
Judging from the comments on the "win this book" thread, there are many people like me who have been regulars here for a long time but just needed something like this to convince us to register. You've started a great registration campaign!
It's extremely unlikely that 6 percent commissions will survive this decision.
Why? Real estate brokers rely upon what economists call "information asymmetry." They have info that others don't, and can thereby exploit it for profit.
That information asymmetry now no longer exists.
Real estate brokers are extremely overpaid for the amount of work they do, and the amount of schooling and certification they have to undertake to do that job. Think about it: The plumbers, electricians and carpenters who actually built those same houses have far more specialized knowledge, and they get paid far less per hour worked.
The only thing justifying those outsized paychecks for real estate salespeople was their possession of certain information that others did not have. And that era is now over.
All the used-car salesmen and other lazy, low-to-medium-IQ types who drifted into the profession for easy money will soon be out of luck.
Those who can sell houses more efficiently will very quickly drive them out of business. The 6 percent commission will be very soon be driven down or gotten rid of outright by competition. Look for flat fees by online brokers soon.
Hi- we've had the WiiFit since first day of release. As an adult woman in my late 40's & I've used it about 12 times. I bought it to help me with my horrible balance. And it has! I'm now doing much better on Yoga poses (even the one legged ones!) and strength exercises. I agree with previous comments that the part that really keeps you on track is the BMI calculations and charting. A great feature.
This feature is also very good for kids. It allows them to view their BMI & weight in a "cartoony" game way & gives them goals to shoot for without having a adult have to set it up for them. A great way to provide feedback for kids on their fitness level.
I love books about how our minds work! I signed up for the contest/giveaway. Thanks for the informative review!
Hows this for random: I was on a book design blog this morning that i have never visited before, and it showcased this book cover. Weird.
Credit counseling is not always the answer. What a credit counseling or debt consolidation company does actually destroys your credit. They tell you to stop making your payments and they notify your creditors that you are in this process. Meanwhile what they don’t tell you is that all your debts are going into collection status. Then they go in there and settle your debt with the creditor for a portion of the amount which you can do yourself! Regardless if the company is non profit, they still make money by paying themselves high salaries... non profit is a lot of the time just a fancy loophole. Please research carefully before signing up with any debt consolidation or debt settlement company.... it's worse than a bankruptcy. If you can’t pay your debts you most likely are better off filing BK anyway at least that way you will have a chance at re-establishing your credit years before debt settlement. Please call me with any questions. I will be more than happy to look over your situation and point you in the right direction. If you are already in a bad credit situation, I can help, if not, a little free advice sometimes goes a long way.
Alina D. Nicol
Senior Account Executive
EZ CREDIT REPAIR LLC.,
anicol@myezcreditrepair.com
myezcreditrepair.com
TOLL OFFICE (866) 979-1099 x207
DIRECT IP LINE (702) 487-3401
Keep a "happy" file of nice notes, projects that turned out well (including scope, impact and your role), awards, etc., that you get while at work. So much of the time when I talk with people about the areas in which they excel at work or ask for specific information about projects they worked on, they are stumped.
Keeping accomplishments in one spot - an electronic or regular file folder - will help when asking for a raise, updating your resume or even for getting to the big picture of what you want to do next. Looking at ones accomplishments and asking, "What did I love doing that I'm really good at?" will help inform career decisions. Plus, it's a great lift for a gray day!
I agree with you Connie. Having a great product, great training and a CAN DO attitude is necessary for success in any business. My husband and I retired from our 6 figure jobs in 1 year exactly after starting our first MLM. We are financially free and are blessed to have come across an opportunity like this especially, in a declining economy. Too bad for the nay sayers, they will remain where they are in life always blaming others for their own lack of participation. Never knowing the good life!!
Lori
Fiscal Zen identifies and highlights deals from Amazon when their price is lower than their competitors...
My husband and I have been in our first MLM business for the last 10 months and I am so excited to say, My husband and I are both retiring from our (six figure income) Full-Time JOBS September 2008. If this is a cult, it's the best cult I have ever seen. We have been blessed beyond!We have replaced both of our incomes with our Part-Time business.. There is a time where you must put down the books and actually go out and do the activity.. Once you do the activity, it's just a matter of time when the results will happen. Maybe you did not have a good product. I don't know why it did not work for you. However, the truth is, only 2% of Americans are wealthy, and only 3% are financially free! Wow, in the land of plenty this is pretty interesting to say the least!
You also can get a free gallon or so on L.A. freeways if you run out of gas in the AM or PM rush hours. They do it to keep the traffic flowing.
I have done some long-distance trips on Amtrak, and agree in part: Amtrak is great for a long-distance trip, if the train ride is part of the fun.
When I travel by air, I try to ignore the actual travel part as much as possible, because it's so miserable. If you're going to do that, traveling by train is a poor choice--it takes too long and costs too much. But, if you're a "getting there is half the fun" sort of person (or are on that sort of trip), then Amtrak is a great choice.
Amtrak can sometimes run behind schedule, but so can airplanes. I've been 4 or 8 hours late many times when traveling by air--twice I've been very nearly 24 hours late.
Wow. Um, not only is drilling into a person's gas tank a complete jerk move but... drilling into metal may cause sparks. (Not all gas tanks are plastic, especially on many trucks & SUVs.)
And, well, drill + spark + gas tank = kaBOOM!
I hate traveling with Amtrak. They have one of the worst reputations for being delayed or having problems on the track.
I traveled with Amtrak a couple years back and they were four hours late getting into the station. Not only this, but it was an overnight train trip to New Mexico. We were supposed to arrive at 10 in the morning. We arrived 8 hours after our scheduled arrival even with the four hours extra included. This was an awful experience that did not make my experience worth while. Granted I did go a couple of years ago. It could have changed since then.
I would travel short distances on Amtrak if I didn't have to worry about time. I would not suggest cross country travel.
For non-perishable items that one uses regularly, BOGO is definitely a bargain. Houses? Maybe not so much. But BOGO works for your milk example, too. Milk freezes just fine (though it takes a full day to thaw out!). Freezing it means those "use by" dates will make you crazy, but a black Sharpie takes care of that.
I don't mean to be a conspiracy theorist, but I think gas shortages are helping raise the prices of gas. It's exactly what Enron did in California when they controlled the power stations and told them to shut off the power. This boosted huge profits when it raised the price of electricity. Enron received huge revenue profits. I don't want to say this is it, however it is something to think about.
I really enjoy photography. It is one of my favorite activities. It allows me walk around and get a different perspective of something. I think this article is great at pointing that out. If only we stop and look at the world around us we would be able to escape our everyday routines.
Another cheap idea for travel is to drive out to a random town and take a walk around to look at what they have to offer. Almost every town, big or small has a museum or city hall displaying some of their history. I had to do this for a class project in highschool. Now I love to just go and photograph small towns. It's also a great physical activity.
I am also new to the "Real World". I had the chance to study abroad for a semester when I was in school. It is a great experience to travel and it opened my eyes to the world and everything around me. I am a little confused and bewildered but this gives me the opportunity to find what I want and what I'm looking for. Having financial freedom is a little frustrating, however I feel that I can manage. I do plan to go back to school for my masters. I believe everything you say is important. I just hope that I can follow where I want to go.
any parent who uses a bottle for any reason must not care about health at all. this also goes for any parent who has not purchased her child an organic crib mattress, who lives in any housing built before 1980, who makes use of childcare, and, oh, let's see...
If you must know, jyl, I'm breastfeeding as I type this and my second child refused to ever drink from a bottle at all. But since not all parents are exactly identical to me (some have jobs, some are unable to breastfeed, some have already weaned, to name just a few examples) I thought this information might be helpful to some.
I live in LA too and our neighborhood is excellent for walking IN but not AROUND. Quiet, meandering streets full of young families and dog-walkers line our residence in the Northeast valley of the city. Great cardio walks are combined with unique houses and eclectic sights. Unfortunately, a 1 mile jaunt to the bottom of the hill leaves you in the gang-riddled, illegal alien infested slums of Mexico, a Tony Villar safe haven that is all too common in the City of Angels. I'd check my score on the website but I'm not leaving the confines of my neighborhood on foot ever! To do so can be suicidal.
-Mt Washington Recluse
Ryan has a case study of bootstrapping in his book and I mentioned it in points 1 and 2 so, you no, don't have to go into debt to build a business. Though you do have to be prepared to live uber-frugally and do everything from managing key account relationships to cleaning the floors. In some scenarios, trying to do too much yourself can actually choke sales growth and kill a business as easily as going into too much debt (Ryan mentions that as well, also with a brief case study).
The primary audience of Zero to One Million is the entrepreneur in technology, biotechnology, energy, or consumer goods industries, probably with valuable Intellectual Property; VC funding might make sense if the company wants to grow quickly or needs to grow quickly to capture the market and establish dominance.
Still, there is useful information even for the person who wants to run a smaller business.