(photo taken at Pearl Harbor, September 2005)

Hi there.

I hope you all had a nice relaxing 4th of July weekend. We headed out to the Frio river with a big group of friends for the annual tubing trip, as we did last year with Brendan et al. The river was too low to really tube, so we settled for setting up shade tents and lounge chairs in the river. The adults pretty much just visited and drank beer while the kiddos played in the river.

TOTALLY relaxing. So good to chill out for a while.

This trip started twelve years ago with Julie and some of her friends and family. (You can read more about the trip’s history here.) It’s now a neat mish-mash of those original campers plus some relative late-comers / newbies like us. I thoroughly enjoyed visiting with folks… catching up with those we already knew, and getting to know some people better. Definitely a quality group of people.

(Pictures not yet uploaded, but soon…)

New stuff around here

I want to try something new around here…

Rather than simply posting about my personal life (which sometimes isn’t all that exciting or “post worthy” ), I want to make a regular habit of sharing with you stuff that is inspiring to me. I have a few different regular weekly features I’d like to start, the first of which is “Motivational Monday.”

I love quotes and articles that push me to be better — spiritually, financially, emotionally, or however. And through the use of Google Reader, I’ve been coming across so many great stuff on “the internets”! (For those that may not know, Google Reader is a cool free service that allows you to subscribe to your favorite websites and blogs. It allows all the content you want to come to you at one place, rather than you having to remember to check out all the various sites you like.)

Our first “Motivational Monday” is advice on the financial front… I came across this great article titled 20 Things the Millionaire Next Door Does NOT Do via a link from Simple Mom. (Yeah, yeah, I know - I’m not a mom. But they have some good ideas for simple living.)

The article is chocked full of good food for thought! I can’t say I abide by each and every one of these (um, hello, I have obviously broken numbers 2, 4, and 6 for starters! ), but it definitely made me want to be more aware of the impact money decisions today have on my tomorrow. Planning and taking action today for your tomorrow can make such a big difference.

Here’s the text of the article (my comments in color):

The millionaire next door does NOT:

1. Pay for Lawn Service – You could save $150 a month, get some healthy exercise and maybe even a bit of a tan just by mowing your own yard. (I personally go the route of living in a townhouse and not having a yard to care for period!)

2. Go to a Hair Stylist – Even the cheapest barber shops charge men $15 - $20 for a haircut these days. If you’re a woman, it may cost well over $50 a visit. Dying your hair? You’re broke! (Yeah, no hope of getting me to give up my haircut and highlights - LOL.)

3. Use Time as a Measurement for Success – The millionaire next door measures success based on output quality, the results. The amount of time spent on something means nothing if the results do not meet the expectations.

4. Buy Brand New Cars – Why would anyone pay the full retail price worth half a year’s salary for the fastest depreciating assent on Earth? We are brainwashed! (Guilty as charged. )

5. Carry a Monthly Credit Card Balance – Carrying a monthly credit card balance only makes sense if you enjoy poverty. Monthly interest payments can add up to hundreds of dollars over the course of a year. Do not buy “stuff” right now that you cannot afford to pay for in cash right now! (I have never in my life carried a credit card balance! The thought alone of those late fees + outrageous interest rates makes me stress!)

6. Eat Out on a Regular Basis – With the recent price increases in corn, wheat and dairy products, preparing your own food is already expensive enough. If you eat out you will pay triple the price. If done on a regular basis you will waste a few thousand dollars a year.

7. Think He Knows It All – People who think they know it all stop learning and thus become unaware of new opportunities. Once you lose awareness, you lose.

8. Socialize with People Who Waste Money – The people you socialize with influence your habits. It is impossible to save money if you constantly hang around people who blow it all.

9. Desire Instant Gratification – You have to think long-term to attain long-term success. The millionaire next door desires long-term deferred compensation over instant gratification. (A really cool thing about my job is that the compensation is structured to allow this — long-term deferred wealth. Our owner always says it’s a “get rich slowly” strategy.)

10. Pay Retail for Name Brand Clothing – You can easily save hundreds of dollars a year on clothing purchases by waiting for sales or shopping at discount retailers like Marshalls. Better yet, avoid name brand clothing all together.

11. Keep His Money in a Checking Account – If you want to increase your wealth you have to set your money up to make more money. Most checking accounts yield little to nothing in interest. Think long-term (5 years +). Invest in quality stocks, bonds and mutual funds, especially those with high yield dividends and interest. Or buy some land in an area with growth potential.

12. Replace What is Not Broken – The millionaire next door fixes things. Fixing something is usually significantly cheaper than buying a brand new replacement, especially if you fix it yourself.

13. Visit the Tanning Bed – $25 a month for skin cancer? Where do I sign up? If you want a tan, move to Florida. For those that live in Florida and still go to the tanning bed… WOW! (Um, HELLO - how well does this tie into our previous discussions about taking care of your skin? Financial sense + health sense.)

14. Impulse Buy – Impulse buying wastes money and leads to a cluttered house full of “stuff” you don’t need or use. If you see something you like at the mall, walk away. Think on it for a day or two. If it still holds value in your mind, maybe it’s worth buying. Never buy something the first time you see it.

15. Waste Time on Senseless Activities – They say time is money. In actuality, time is far more important than money. Time is your life. If you waste it, you will fail. (Very wise

16. Focus His Attention on Negative Obstacles – If you focus all your attention on negative obstacles, you will lose sight of the finish line. You can’t get there if you can’t see it.

17. Bet The Farm – The millionaire next door takes evenly weighted, calculated risks on long term investments. If you go “all in”, you’re gambling, not investing.

18. Fly First-class – Would you pay $400 to sit in a leather chair for a couple of hours? That’s exactly what you do when you fly first class. Huge waste of money! (Luckily, it says nothing against taking the free first-class upgrade when you get it. )

19. Rent – The millionaire next door has a long-term mindset. In the long-term, owning something is always more cost effective than renting it. The key is to purchase quality products for long-standing use.

20. Earn Every Dollar He Makes at His Day Job – Two words: Passive Income. You can be sure the millionaire next door invests his money wisely. These investments create a solid passive income stream that grows over time. If your money isn’t making you more money, you’ll never be wealthy.

What are your tips for creating long-term financial well-being for your family? What motivates you to make those good choices today? Other thoughts?