...When opportunity knocks

It is my firm belief that if it looks too good to be true, it usually is. The latin term that sums up my skepticism is "Caveat Emptor" which translates as "Let the buyer beware". Now this does not only apply to purchases. Tonight, I want to talk about all those get rich quick "opportunities" that are knocking down doors looking for the next sucker. That's right I said "sucker"! I have watched so many of my friends and family dive into so many different get rich quick schemes with minimum success. The only thing that they have in common is that they lost more money than they earned. I've seen everything from cosmetics, water filter businesses (I did that one), vending machines, flipping houses, time shares, and the list goes on. By the way, your personal time is worth a dollar amount and if you've invested you are involved in a get rich "opportunity" that requires both, you may consider doing the math. That being said, here are a few tips to consider before you unload your hard earned money into one of those "opportunities" that comes knocking at your door.

Rule #1: If someone approaches you with any opportunity that requires you to spend your money, run do not walk to the nearest exit.

Rule #2: By the time the masses find out about these secret "opportunities" the only person getting paid is the person selling it to you.

Rule #3: If "opportunity" knocks on your door, calls you on the phone or emails you, RUN do not walk to the nearest exit! Think about it, are there really people out there looking for you to give you money. Not likely as they are looking for the next sucker.

There are some real opportunities in this world. The people who are best prepared to "meet" those opportunities will have the most success. I was riding down a street one evening and saw a sign that said "Luck is being prepared for the opportunity." It made a lot of sense.

A good opportunity is one that you have prepared yourself for and instead of it knocking on your door you will most likely find it while searching for it or meet it halfway. For example, you can't win the lottery if YOU don't play the ticket. The greatest rewards often come from the greatest risks. So that "safe" investment opportunity that everyone knows about even though it's labeled as a "secret" will in many cases not give you enough of a return on your investment to make it worthwhile.

Taking a calculated risk means doing your homework. That means spending time researching and gathering information from numerous sources. Don't be lazy and rely on the words of that co-worker who always has lots of opinions. Formulate your own opinions by doing your homework. Consider where you are getting your information from and who is providing it. When looking for a good investment, look for the thing or idea that is not currently in the mainstream. In the event that you are approached with this type of opportunity, spend time researching the supply and demand aspects and the marketability of the opportunity. For example, if the folks at HP had recognized the potential in the Apple computer when Steve Wozniak presented it to them, all of our lives might be a little different today. Good luck folks and if you do uncover the next Apple or Starbucks, etc. Please let me know! I might not open my door, but I will do my homework and see you at the bank.

…Good, Better, Best.

The recent launching of the latest iPhone 4 gave me much to think about regarding when it is time to replace an existing item. One of my friends stood in line for 5 hours waiting for his new toy. Now, he’s a frugal and practical kind of guy and he had a fairly recent version of the iPhone in his possession. However, the allure of all the new bells and whistles was a bit too much to ignore. Quite frankly, if I had not purchased the 3GS model recently, I might have been in that line waiting with him. After hearing his description of the new version, I was tempted. However, I have been relying on my good, better, best rule which helps to keep me out of trouble. I rationalized that while the new iPhone is probably the best cell phone on the market, my 3GS is better than most of the good cell phones available today. While the transition to the new phone is almost seamless, I am a creature of habit. I like every App exactly where it is. I am also getting to the age where I really don’t like change. Years ago, being frugal was considered a positive attribute. In today’s world, where an electronic device such as a cell phone gets replaced more often than some of the food in your pantry, we need to really stop and think about the good, better and best options. This includes those high priced sneakers, fancy purses, and other merchandise that we buy to impress others. When you are paying the bills do you ever stop and think about how impressed those others would be if they knew what you sacrificed to appease them. By the way, did you ever think to ask yourself who those others are that you are trying to impress? Chances are, they’re the people who are robbing Peter to pay Paul just to impress folks like you. I have to admit, I love my iPhone and in my opinion, it is a necessity for me. Different folks have different priorities. The key here is to prioritize your purchases so everything does not become a necessity. It’s okay to splurge on an item that really rocks your world. But, before you spend that hard earned cash, stop and think about the good, better and best rule.

…having it all.

You can have it all, but don’t expect to have it all at once. If you are a parent raising small children and working a full-time job there is very little time left for school unless you have a very good support system. Your time is your most valuable asset. Your children are only small for a short period of time so if at all possible try not to cut into time spent with them. If you are in a relationship, married or otherwise, your partner needs face time too. If you have pets, Fluffy and Fido need attention so factor that time in first. Pace yourself when it comes to balancing out your life. When you are making the decision to reinvent yourself, sit down and think about what you are really willing to sacrifice. Some things can never be regained so be careful. On the flip side, do not be so giving that you don’t give yourself some me time. If you find that you are starting to resent folks when doing favors it might be time for a little me time. The goal here is to find something that you are passionate about and do it. Now, let me just warn you parents out there about the effects of finding your passion. For example, if you are a reader, have you noticed that just when you sit down and start really enjoying the book, your kid shows up and wants to have that meaningful talk. As a matter of fact, I discovered that it is a good way to get your children to talk to you. Try it sometime! The next time that you want to talk to your child(ren), sit down on the couch with your favorite book and act like you are really enjoying yourself. Within minutes they will suddenly appear with a situation that needs your immediate attention. LOL, all you single folks take notes, you might need this advice one day. If you don’t believe me, try it and let me know how it works for you.

… show me the money!

Welcome back gentle readers. I became inspired to continue with this blog after watching “Julie and Julia” last night. Better late than never, right? Okay, I have been talking to you about spending wisely. However, in order to spend money you have to have money. Back in my younger days we referred to being broke as “eating ice”. I’m talking about being broke, busted and totally disgusted. I remember my breaking point as the day I lost my mind over a jar of salad dressing. My family gave me an economy size jar one Christmas as a joking reminder of my insanity. At the time I was in deep despair over my inability to purchase the name brand of my choice. It was then that I realized that despite my best efforts and intentions, my financial life was out of balance. So I started to focus on what I had coming in the front door. In order to change my circumstances I had to change my market value as an employee. It is not enough in these times to be a hard worker. You need to bring something to the employer that makes you stand out above the rest. If it means going back to school or learning a new skill then you should do that. But you should not do it on any one's terms but your own. Do not let some fast talking salesperson or representative give you the speech about hurry up or it will be too late. It is never too late as long as you have breath in your body. When you stop breathing, guess what, at that point none of it matters. Reinventing yourself is not only about getting a better education. Sometimes the easiest and most cost effective way to change is to simply change your attitude. Believe it or not, putting on a smile and presenting a positive outlook can reap huge results. People have often told me that I am lucky. I was riding down the street on day and saw these words posted on the side of a building “Luck is being prepared for opportunity”. I didn’t create that statement but it really resonates in my soul. Over the years I have constantly prepared myself for better opportunities. I didn’t want to sacrifice time with my child so when she was young I did self study computer based training (CBT) during my lunch break at work. If your job offers free training take it! Knowledge is power and has the power to transform and move you into a higher paying job. Another tidbit is to find your passion and the money will follow. I would rather work a job that pays less but gives me self satisfaction than one that pays an enormous salary that I don’t enjoy. I am speaking from experience here so pay attention. Much of what I am saying to you can be found in any self help book on the shelf. But, just like a cookbook if you don’t try it then it’s just a recipe. I have cooked in the game called life and I can tell you quite honestly that these little tidbits work. If you want to change your circumstance today, just stop and ask yourself what can I do at this very moment to make my life better tomorrow?