Imagine that you bought a $100 ticket to a ski resort in Michigan. A few days later, you find a $50 deal for a ski resort in Wisconsin. The $50 Wisconsin deal promises better ski slopes, nicer snow, and an all-around more fun experience. On impulse, you buy that ticket, too. Then you learn that the two…
I’ve been in Austin, Texas for a week; I have another week to go. Several people here, upon discovering that I’m a visitor, have asked me the same question: “So what do you want to do while you’re here?” I shrug. I’m up for anything. Most days I pick a neighborhood, stroll around, poke into…
House #2 is officially rented! NOTE: This article was last updated in 2012 (and all numbers reflect that year). Last week I showed the house to a man who liked it so much, he grabbed his checkbook and handed me a deposit on the spot. I ran the necessary screening – credit check, criminal background…
Ever met a “should” – er? A person bound by invisible scripts who wants you to conform to their world view? People seem to crawl out of the woodwork with opinions about how you should spend your money and manage your career. “Now is the best time to buy a house!” “You have to go…
I can’t believe I’m saying this: Dear Readers, I’d like to introduce you to Rental House #3. “But Paula, didn’t you just buy a house? A couple months ago?” Yep, it feels fast to me, too. Check out the pics, and meet me below the photos to hear the details. (If you’re reading by email,…
The biggest mistake I’ve made as an entrepreneur? Confusing my role as an investor with my role as the general manager. As an investor, my role is to infuse money into a project or a company. Then I kick back and wait for the returns. As the general manager, my role is to oversee the…
Conventional wisdom says that you should invest in the market in small bites. This is called “dollar-cost averaging.” Dollar-cost averaging is the philosophy of wading slowly into the market over time, rather than diving in. If you have a large sum of money — through a bonus, commission, gift, sale of a house or car, etc. —…
I’m coming off another jam-packed weekend of 12-hour days fixing up our foreclosure house. Between our weekend warrior efforts and the nearly $5,000 we’ve paid towards labor costs, this fixer-upper is ready to go on the rental market! Want proof? You’ve seen the “before” video (if you haven’t, click here.) Check out these “after” pictures:…
The other day I saw this great graphic comparing How People Think Professional Photographers Spend Their Time vs. How They Actually Spend Their Time: (Click “display images” if you’re reading this by email.) People who work in “glamourous” industries often face these misconceptions. “Oh, you’re a journalist! You can jet off to Paris as…
Today is my first day back at work after a one-week “unpaid” vacation. I’ll earn less this month than I did in the previous few months, since I only worked three-fourths of the time. This is because I trade my time for money. I have a huge limitation on how much I can earn. Everything…