Slap My Wallet

Why a blog post about working with the right people? Last week I read an article which asked if real estate agents are really necessary. The article received a mixed response from readers. Personally, I really like my realtor. However the article failed to make an important distinction between the talented, qualified agents and the lazy ones. So I wanted to bring up and talk about the importance of finding the right people.

When it comes to professionals, employees or even band mates all are not created equal. The right people will move you forward. The right people know their craft, they get things done, and they inspire others. The wrong people can hold you back. The wrong people are sometimes incompetent, they can create more work for you, and they can de-motivate others.

Pay yourself first is the quintessential personal finance concept. Almost every personal finance book that I've read includes some version of the pay yourself first method. However since Slap My Wallet is not blog for people who spend their weekends reading personal finance books I will tell you about pay yourself first concept in a nutshell.

Is asking for cash for Christmas or giving cash a bad idea? Is it uncool? Let me preface by saying I am a grown man. I'm a grown man who has been gainfully employed and owns a house. However I'm a grown man that wants cash for Christmas. Does that make me a bad person?

When I was a child I'd give my parents a list of things that I wanted for Christmas. Not only did I tell my parents what I wanted, I told them who sold it and how much it cost. I would have given them a map to the store if I thought it was necessary.

This is a method of banking that my wife and I came up with before we got married and decided to join our finances. It's a very simple trick that we invented. Alright maybe other people have done it as well, but we're staking claim.

The Problem
First let me explain the problem. We realized that joining our finances could be a recipe for disaster. We'd have two salaries directly depositing into our checking account. We'd also have money coming in and out for wedding expenses from savings accounts and parents. Plus we'd have money going out for rent, student loans, debt, utilities, bills and daily expenses. We understood that it would be very easy for either of us to misread our balance and overdraw the account.

Getting a Job is Dangerous
It's mid-September and the job market is tough. Unemployment in the U.S. is currently around 10%, and the number of people looking for a job is much higher. This has created a rich climate for identity theft and scams. Job seekers need to take steps to protect their identity during their job search.

It's likely that you or someone in your family is looking for work. Something that you should take seriously during your job search is protecting your identity. Now that may seem counter-intuitive because you are actively in the process of putting yourself out there. However you should protect your identity and limit your exposure to fraud and identity theft.

This is the Slap My Wallet list of the top things never to buy cheap. So why would a site that's dedicated to creativity and personal finance publish a list of things never to buy cheap? Well, sometimes you get what you a pay for...

I Want Things
The guitar store is one of my favorite places. I enjoy pulling down some expensive relic off the wall so that I can examine it more closely. "It must be fate that brought me here", I say to myself. I determine that I need the guitar, and it never takes me too long to conjure up ways to make my purchase. I hear a nice pair of Manolo Blahniks has the same effect on some women.

We all want things-shiny things, soft things, handmade things. In fact I want lots of things. In a way our desire is good because it can motivate us to work harder. However if we want to achieve our life goals, which could be paying off debt, owning a house or even traveling the world, we need to learn how to save money and control our spending.

Think back to the last great concert you attended. Now imagine yourself at that same concert sitting in the front row. You're seeing every facial expression of the band and hearing every note right off the stage. Isn't that where you want to be? So why aren't you there.