Posted by Tim Stobbs on September 30, 2009
Sorry for the lack of posts this week, but if you follow my Twitter feed you know I’m running for my local public school board so I’ve been a little busy on dealing with my upcoming election.
I’ll post more on this later this week.
Posted by Tim Stobbs on September 28, 2009
Ok, if you have cut your expenses to the lowest point you are comfortable with and you still don’t feel like your getting towards your goals, you might want to consider dealing with the other side of the equation and picking up a second job (or even a third if you already have two).
Now obviously this isn’t a decision to make lightly, since you could potentially be putting a lot of your time in total towards work. If you do this too much you could burn out so here are some items to consider:
- Family – Do you have kids? Are they young? Is so, you NEED to discuss this with your spouse. It’s not fair to dump the kids on them all the time for you to work unless they agree to it. So perhaps consider doing contact work or something else which can be done after the kids are in bed.
- Interest or Passion – What do you like to do? Are you passionate about something? Try to find a job that you will like to do. It will ensure you don’t start to regret your decision to take a second job after just a few months. Remember happiness is just as important as money.
- Time – Do you have the time to take a second job? Be honest with yourself. Can you spare another 10 hours a week with your other work? If you are already putting in 70 hours a week at your other job you might not have much time left after the basics of eating, cooking and cleaning. Try not to have work and nothing else in your life.
- Pay – Are you going to be making more or less than your day job? If more, that’s great. If less, you might want to consider just putting in more time at your first job for extra money (if possible). Remember the more you get paid, the less hours you have to put in to get to your goals (but remember to consider tax implications, it’s no good to get a second job to just pay the government most of it). Consider trying to get a raise at your first job if you don’t think you can handle your second job.
- Other Benefits – Your second job might actually be more for the other benefits than the pay. Do you get free access to goods or services? Is your second job more of a hobby than work? Remember you don’t just have to work for money, it could also be about doing something you love and getting it free.
- Self Employed or Employee – So far I’ve been mainly talking about taking a second job. Another option is starting your own business. Remember that you will be putting in LOTS of time to get a business off the ground, mostly without pay. So consider that and why you want that second job before going down this route.
Well that’s my consideration list. If you have an idea on something else please leave a comment.
Posted by Tim Stobbs on September 25, 2009
Quick what would happen to the world is gas prices spiked to $20/gallon and stayed there? No idea, don’t worry I didn’t have a clue either. So thankfully someone else decided to ask that question and try to come up with some predictions. The result is an entertaining book called $20 Per Gallon by Christopher Steiner.
Rather than just ask that question outright Christopher followed the trail of cheap gas and our lives today (ie: where else could an SUV come from other than $1/gallon gas) then asked what changes would happen at each level of gas price increases starting at $6/gallon (~$1.58/L), $8/ Gallon… then rising up to $20/gallon (~$5.28/L).
Now granted some of the changes he predicts are questionable at each level, but the concept was interesting to read about and here is what he thinks will happen:
- The SUV will be dead at $6/gallon (I suspect that won’t happen until closer to $8/gallon myself.)
- Electric/Hybrid cars will be standard for those that can afford them.
- Everyone else will use a lot of mass transit in cities.
- Food will shift to more local markets.
- High speed trains will become increasingly more critical as the airlines become the domain of the very rich. A trip to Europe will once again be a once in a lifetime trip for North Americans.
- Nuclear power will be much more wide spread.
- Natural plastics that biodegrade will replace petroleum based ones.
- Global trade will slide backwards and Walmart will potential go out of business or at least overhaul its business model.
What was perhaps the most interesting parts of the book was the way he pointed out everyone change won’t really be bad. Some will actually be good for us. For example, some SUV’s have a horrible safety record and the number of deaths on the road will actually drop when they are gone.
Overall the book is a entertaining read on ‘what if’ and some possible ideas on where to invest for the very long range planner.