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While I recently managed to pull myself out of debt, I’ve reached a nadir with my health. I’m in bad shape. I had to buy fat man pants the other day. I’m not putting it off any longer — it’s time to set my Get Fit Slowly project in motion. Meanwhile, here are some recent personal finance stories from other sites:
- My favorite personal finance piece this week came from Trent at The Simple Dollar. He wonders: Does peer pressure keep us from succeeding? He makes some excellent points. When your friends and family have poor habits, they can really drag you down. Conversely, if you can find people with good habits, you can form a support group, a mutual fan club, and drive each other to success. Your mom was right: your friends matter.
- My second-favorite piece this week has nothing to do with personal finance. Or maybe it does. In the current issue of The New Yorker, Atul Gawande describes how the checklist is transforming medical care in the ICU. Using a simple list, doctors and nurses have reduced death rates and saved millions. Sounds dull, doesn’t it? It’s not. This is a long article, but I couldn’t put it down. (I read it in the magazine, not online.) The perceptive reader may see ways to apply some of these lessons to her own life.
- JLP at All Financial Matters explains how to determine how much mortgage you can realistically afford. This is a question I hope to tackle someday, and I’ll be certain to reference the work JLP’s already done.
- At Consumerism Commentary, Flexo shares a story that really gets my hackles up. A young Philadelphia couple has been charged with identity theft after they were caught stealing documents from their neighbors (and others). They used their ill-gotten gains to lead a lavish lifestyle. This burns me up.
- Kris and I went cell phone-only earlier this year. It’s been great so far, though call quality sucks. (One of my big beefs is how moving from analog to digital hurt call quality, but everyone pretends differently.) Jonathan at My Money Blog recently wrote about considerations for going cell phone-only.
- Free Money Finance ponders taxes and the leading Presidential candidates. You’re not likely to see much political discussion at GRS, so check this out if that’s something that interests you.
- The Mighty Bargain hunter explores the question: Why do customers and retail employees hate each other so much?
- NCN has set his goals for 2008. I like the idea that he sets “definite” goals and “stretch” goals. When I say that I’m going to save $10,000 for my emergency fund, but would really like $20,000, the latter is a stretch goal — difficult to obtain, but something I’m going to strive for.
- Five Cent Nickel has a heads-up on how you can get compact fluorescent light bulbs on the cheap from Lowe’s home-improvement stores. How does a buck a bulb sound?
- Jim at Blueprint for Financial Prosperity lists seven responsible ways to spend your holiday bonus. Mine is going into my Roth IRA.
It’s the time of year that I play Santa Claus for the customers of the box factory. As a result, the posting pace around here may slow for a couple weeks. Or I may fast-track a couple of guest articles. In either case, I have plenty planned for the new year!
This article is about Spare Change Sunday, 9th December 2007 (by J.D. Roth)
December 9th, 2007 at 4:47 am
If you want to lose weight, everyone will have suggestions. Let me be the first to ‘weigh in’ with a suggestion. I found Howard Shapiro’s book, “Dr. Shapiro’s Picture Perfect Weight Loss: The Visual Program for Permanent Weight Loss” very informative.
I can summarize it pretty easily. A reasonable way to attack weight is to be informed about the cost of foods you eat and then choose accordingly. People often eat what they perceive to be healthy foods that are actually calorie expensive. A good example is dense breads like bagels. Dense breads contain an enormous amount of energy, and can easily undo your weight loss desires.
Cheese is the nuclear fuel of food. Lots of energy in a tiny space.
If you know what you are eating, you can decide what you want (relative to its cost). If you want a bagel and you know what it costs, you can eat less of something else. Or you can eat half and save half, or whatever.
Since you’ve just gotten out of debt, I suspect it is the kind of thinking that you are comfortable with. You learn to buy the things you want within a certain budget. If you forgo on some of the things you only want a little, then you can afford something more expensive (in moderation) when you really want it without getting into trouble.
The trick with food is that the price isn’t written on it, so it is harder to know when you are being frugal.
December 9th, 2007 at 7:03 am
Love your blog, J.D., but I sincerely hope this doesn’t become a “Get Fit Slowly” annex. I prefer my money advice to not include any weight loss talk.
December 9th, 2007 at 7:25 am
Of course peer pressure affects your habits. This is one reason why we’ve become a nation of fat people; we have become our own circle of validators for our eating and exercising habits. Being at least some overweight has become part of the range of “normal.” Finance, the exact same way. We buy brand-new stuff as Christmas presents because that’s What Is Done. We have no shame about being in credit card debt because so many people are. It’s a different aspect of that old saying, “A man is known by the company he keeps.” That is, it’s not only the way it immediately seems (a person is known by the company he chooses to keep) but that the aspects of a man’s values, habits, et cetera, that are not presently obvious can probably be estimated by using the mirror of how his friends are in those respects.
December 9th, 2007 at 8:13 am
No worries, Paul. One of the reasons I’m starting Get Fit Slowly is so that I don’t bore people at Get Rich Slowly with weight loss talk. I’m going to keep the two separate!
December 9th, 2007 at 8:34 am
At this time, going cel phone only (at least in California) carries an unacceptable level of risk to me. See http://www.latimes.com/news/local/la-me-911cell23nov23,1,7034123.story to learn why.
December 9th, 2007 at 2:32 pm
When I had yet another cordless phone crap out, I naturally started looking for a new phone. Frustrated with what I found, I asked myself, “Okay, what is the best phone you’ve ever used?”
The answer: the old AT&T rotary-dial phone from the ’70s. So I went on eBay and bought one. The difference in call quality between that phone and today’s garbage is astounding. Jaw dropping. I had forgotten the magnitude of how bad it had become.
Plus, the real bell and the rotary dial are wonderfully satisfying.
December 9th, 2007 at 2:49 pm
The New Yorker article on ICU checklists was priceless. Thanks for pointing it out!
December 9th, 2007 at 6:27 pm
I’ll go ahead and give my own weight loss advice, and put my experience in financial terms:
My debt (weight) has been beyond what I am comfortable with for as long as I can remember. A couple of years ago, I started to get it under control, through cutting out impulse spending (eating an astronomical amount of sweets). Beyond that, I started actively saving (exercising), and keeping a budget (check out physicsdiet.com).
I’ve fallen off the wagon every year around Thanksgiving, through Christmas (including this year), but I’m at a net gain (weight loss) from when I started, and now I know I can do it when I keep with it.
As for a good resource to read, check out The Hackers Diet (free e-book, written by the creator of AutoCAD, what physicsdiet.com is based on). It’s a great source of information on the mechanics of how your body works and how to lose weight within that system. I know a lot of technical people besides myself who have benefited from using that perspective. Regardless, it’s worth a look. If you’re interested, I can email you the forum that hosts the group that I use for support in my weight loss efforts.
December 10th, 2007 at 2:01 pm
I lost 25 lbs over the summer and went from size 42 pants to size 36 in 25 weeks.
Running is the fastest way for me to burn fat. Starting around May of 2007 I’d get up early every weekday morning, get in my car, park in a nice neighborhood and run for 20 minutes.
A few months later my endurance increased to 30 minutes, 3 miles. I also now run on an outdoor elementary school track in my neighborhood.
Before running I’d exercise with some weights and a home gym. If I’d get up late I’d skip the exercise and just go running.
The exercise forced my body to only crave healthy things. Since I don’t get bored of eating the same food every day, I’d eat oatmeal for breakfast and salad for lunch. For dinner I’d avoid meat. Thankfully my wife was on board with the good eating habits. Soy cheese has replaced real cheese. I pretty much stopped eating meat.
Weekends I relax and don’t stick to my heath routines as much.
I do this in the mornings so I get up at 6:30 am. This requires me to adjust my evening routine to be in bed by 11:30 or midnight.
I’ve lost an average of 1 lb. per week without killing myself.
The benefits are more than just losing weight. Every single breath I take is better. I feel stronger just walking from my desk to the bathroom. It’s great not to get winded by walking up stairs. My brain works faster. I have more energy. In the past I’d practically fall asleep at my desk after lunch. Now I don’t feel like an old fart at 40.
It’s the winter now and often too cold for me to get out and run. So, I’ve mentally prepared myself that I’ll gain some weight. Then lose it again when it gets warmer. I’m also trying to brave the cold so I can run three miles without having to ramp up again in the spring. I also have knee problems which flare up when my legs are weak. Running keeps my legs strong and my knee problems at bay.
Anyone can do it. Trust me.
December 10th, 2007 at 6:41 pm
I’ll second The Hacker’s Diet and physicsdiet.com. I’ve lost more than 40 pounds this year and gone from a women’s size 20 to a size 12.
It is very much like the money stuff, although sort of in the opposite direction: you want to take in less than you spend.
I think I’m having the opposite journey to yours — I spent most of the last year working on my weight & eating habits and now gearing up to do the same with my money habits.
December 12th, 2007 at 11:58 am
J.D.:
I truly enjoy your writing and look forward to each days entries. Although I have very little debt, I never had money for the things I wanted to do; travel being the main one.
Reading your and Simple Dollar postings the last two months has enabled me to set goals and put some automatic processes in place. I moved money that was languishing in a 401k into a managed fund with a much better return and set up an automatic weekly payment from my checking account into my travel fund. Interesting that I still have the same amount of money each month that is “disposible”….
I too am looking to get my weight under control…again I am sure it has to do with goals and follow through, but after losing 30 pounds in the last 18 months and now stalling I really want to get with the program.
I live just accross the river from you, so if you ever get together a “Fit Group” please let me know.
Keep at it. I look forward to seeing what comes of your big move to more full time writing.
September 2nd, 2008 at 5:22 am
I would caution against comparing weight loss to increasing your net worth. It’s psychologically, materially, and logistically different! I’m slowly losing weight now, but I’m not all the way there yet. But here’s the things I’ve tried that have not worked:
1) Low-fat diet. Worked until I started eating sugar instead of fat. Gained more weight immediately following.
2) Low-carb diet. Never actually worked.
3) Low-glycemic index diet. Also never worked, and gained more weight afterwords.
4) Going vegetarian. Just ended up eating more unhealthy non-meats.
5) Calorie counting. Never was able to count calories correctly.
6) Low-calorie fad diets. Couldn’t stick to them, I was too hungry.
7) Forcing myself to get really hungry before I ate, and then eating only until I was full. Worked until my body decided I was not going to go hungry ever again.
In the end, the only thing that has worked for me is to eat more vegetables as a percentage of my food. That’s it! Everything else was either too much hunger, too much effort, or was even counter-productive. If you eat more vegetables, you are fuller, you don’t crave vitamins and minerals (because you’re eating them), and you simply can’t fit in the extra burger and fries after you’ve had a tasty salad. It’s also the lazy way.
I also read The Hacker’s Diet, and I also highly recommend it, because it forces you to understand it in a logistical, mechanical, biological way, rather than from a discipline-oriented, force-yourself-to-make-an-effort sort of way. The diet industry loves to make you think you’ve got to put in either a ton of effort or none at all. A little effort when you choose what to eat is all that’s required.