Comments on: What I think about 24/7

By: debt kid

debt kid — Tue, 29 Jan 2008 17:56:18 +0000

Glad to see I’m not alone in the “thinking about money/debt all the time” camp! I just think I’ve crossed a line from a healthy obsession into an unhealthy one. Even with my situation, I don’t think my life should revolve around this issue for years…it just can’t…

By: MoneyChick

MoneyChick — Tue, 29 Jan 2008 17:53:17 +0000

Wow…you sound a lot like me! I’m constantly thinking about money – how to make more, how to save more, how to pay off debts faster to get to my goals, etc.

I gave you the link to my blog – feel free to read, comment and give me a shoutout from time to time.

MoneyChick

By: Niki

Niki — Tue, 29 Jan 2008 15:49:38 +0000

Funny, I find myself doing the same thing lately, even though my debt situation is almost nil. (I should be non-mortgage debt-free within the next 3 months and all credit card debt is 0%.) Even so, I notice that I am consumed by the same 2 thoughts that you describe. Logging in to check my accounts and balances, tracking my spending to the penny and dreaming of ways to increase my income seems to be the highlight of my days. I guess it’s just impatience wanting to achieve the goal of being debt-free NOW. I just discovered your blog a few days ago and I must say I am so impressed with your maturity and how you are handling things. Your experience is also very eye-opening…I have a son just a few months younger than you who has just recently started “trading” and he seems to be getting a bit consumed with it. Thankfully he has very little money and some debt of his own (and not-very-good credit) so hopefully he will be limited by his own resources. I pointed out your blog to him, so perhaps he is reading it too. Anyway, while I don’t have any real suggestions to add, I just wanted to de-lurk to say that I enjoy your writing and I wish you all the best. With where you are with your business and your knowledge of personal finance and investing, believe it or not you are light-years ahead of me! (I’m 44 and finally making 6-figures, but boy did I get a late start saving…) Keep up the good work!

By: Ian Denny

Ian Denny — Tue, 29 Jan 2008 08:01:37 +0000

Slowing down is he best thing you can do. And you can achieve it without losing effectiveness.

Apply the 80/20 rule. About 20% of what you do generates 80% of your results.

Slow down on the (largely) irrelevant 80% and invert it. Instead spend 20% of your work time on the less important, and 80% on the stuff that generates the best results.

The thing is, by doing this and getting more of the better results, you find it begins to naturally eradicate the unimportant stuff.

For example, if you generated more income, the stress and hassle of the admin and unimportant stuff is eased if you have the extra income to stop juggling debts and payments with the increased freedom to pay more people on time or earlier.