La Bene Vita

Merry Christmas!

No laptop and no jobs today... whatever will I do with myself???

I know. I'll read my new Christmas present: Small Business For Dummies (That's me!)

Here's a great quote:

"Although it's true that money can't buy happiness, managing your personal finances efficiently can open up your future life options, such as switching into a lower-paying but more fulfilling career, starting your own business, or perhaps working part-time at a home-based business..."

Yep, that's exactly what it does. And although I admit that I have been blessed more than many, this was my recipe for success:

1. Go to college (paid for via student loans, grants, and scholarships. I graduated with about thirty thousand dollars worth of student loan debt.)

2. Work hard, even if that meant being chained to a computer lab while roommates vacationed in Cancun over Spring Break.

3. Earn a degree. Don't underestimate this one! Those loans need to be paid back somehow, and the degree offers the earning potential to pay it back.

4. Find a job. Easier said than done, I know. Like I said, I've been blessed. But believe me, the college degree helps a lot.

5. Keep living expenses low enough to afford student loan payments. That meant driving a Corolla, which was my fave little car ever. I confess that my first apartment in Atlanta was in the heart of the social district and very expensive. I quickly realized what a waste of money it was, and when I moved to Nashville, I bought a house that I could actually afford. It was tiny, but it was *mine*.

6. Continue to spend less than you earn over about a decade, and pay off debts. THIS IS NOT EASY. It takes discipline. You have to keep your eyes on a prize that may be years away, while forgoing instant gratification (e.g., cable service, unlimited texting, or that HDTV you really, really want) in favor of that prize. It helps to know exactly what the prize is. For instance, "Get a job playing video games for a living," is much more specific than, "Get a job that's more fun," which is much more specific than, "Get out of debt." The more specific the goal, and the more badly you want to achieve the goal, the more likely you are to say no to the HDTV and its instant gratification at the moment of choice, because you think of how cool it will be to play video games for a living (which is way cooler than simply getting out of debt.)

It also helped when I got rid of a spendaholic leech. It is very difficult to meet your financial goals when you have a partner who does not share your goals, at least not in practice. If you find yourself in this situation, I strongly recommend keeping separate accounts, which is something I would have scoffed at a decade ago. But I recognize now that I can only control myself. So if you have your own goals to meet, and if your partner or family members don't share your goals, you have to put some money someplace where you have complete control over it.

And... 7. Start saving. A decade ago, I scoffed at savings. I thought, why on earth would I put money in savings when I have all these credit cards to pay off? The interest rate math doesn't make sense. I was right, but I swear, I never thought that I would ever be completely debt-free and have extra money every month. Yet, here I am, socking away money every two weeks. It takes discipline over the long-haul, which can be accomplished only when you know what you really want.

Easy as pie, right?

Merry Christmas, and may all your family, career, and financial dreams come true in 2010 (or in the next decade.)

Happy Birthday, Jesus.