You know that sinking feeling in the pit of your stomach, when you decide to remodel your kitchen …
… and you think it’ll cost $5,000 ….
… and it ends up costing triple your estimate?
Yeah.
[…]
Why Delegating is the Best Way to Get a Life
Two weeks ago I went camping in the desert, without a phone signal or Internet connection.
During the 10 days when I was “unplugged,” a handful of urgent issues formed. A nasty virus infected Afford Anything, triggering “malware” alerts every time a reader tried to visit. Google de-listed me from its […]
Myth: Winners Never Quit. Fact: Winners Quit Constantly …
Myth: Winners never quit and quitters never win.
Fact: Winners quit ruthlessly.
We’ve all heard the cliché, “winners never quit.” Like most clichés, that’s an oversimplified myth. The truth is much more nuanced.
Winners quit constantly. They quit frequently. They quit decisively and without regret.
They make a rigorous assessment of the […]
The Sunk Cost Fallacy: The Surprising Reason Why People Cling to Jobs and Investments Longer Than They Should
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 […]
What the French Taught Me About Texas
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 […]
House #2 is Rented! How Good of a Deal Was It?
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 […]
Are You Letting Invisible Scripts Rule Your Life?
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!” […]
We Bought a Third Rental House!
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 […]
Make a Profit AFTER Paying Yourself
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 […]
Why Dollar-Cost Averaging Stinks
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. […]
