All posts tagged live lean

How to Banish Worry and be Thankful Everyday.

By Brad Beckstrom

Everybody’s got stuff. Not the stuff you might be thinking, like knickknacks, or closets full of junk. I’m talking about the stuff in your head. It’s something we all have. Those thoughts and worries that creep in. They can keep you up at night or distract you during the day. This stuff is not unique to people based on age, race, marital status, or station in life. In fact, it can be argued that the healthy and the wealthy often have even more of this stuff. As rapper notorious B.I.G. famously said “Mo Money = Mo Problems.” He had them both, and he was dead at 25.

Sometimes I’ll be on a great walk listening to a podcast or an audiobook and find that I missed entire parts of it as my mind wanders off and goes to this “stuff.” Sometimes other people’s stuff creeps into my head. Things I have absolutely no control over, but there they are, pissing me off.

One thing that makes me feel better is understanding that everybody has this stuff in their head, worrying about a family member, their health, some work-related issue, or something that popped up in a random tweet.  You know the feeling, “WTF, that can’t be true, how can they do that! Let me see that link, let’s dive in so we can worry more about this. Read more…

How To Prefer What You Have.

By Brad Beckstrom

Years ago I had a vision for what I’d like my future home to look like. It included stylish mid-century modern furniture, expensive rugs, artwork, and beautiful lighting. It doesn’t look like that and I’m happy about it. Instead of replacing and upgrading furniture over the years, we decided to keep the furniture we had. This included things like our original coffee table that’s been destroyed by kids, dogs, spilled beverages. I kept my furniture from my college dorm room, now in my son’s room and still going strong. We kept various IKEA classics from my various bachelor pads and wife’s early post-college years.The IKEA dressers had to be repaired and in one case reassembled. A few years back, we had a fun day running down to IKEA to dig through the parts bins for pegs, knobs, and brackets. I also grabbed a few Swedish meatballs. We’ve received a few pieces of furniture from relatives over the years, proudly displayed next to the IKEA stuff in the living room that we repurposed as a library.

With all this old furniture populating our home, something interesting began to happen. The furniture began to develop its own personality. Chew marks from pets that are no longer with us, wild rings, marks, and divots in our coffee tables that come along with raising two boys and having pets. I guess you could call them scars, but the good kind. We’ve actually created that distressed, weather battered look the people pay for. I like to think of it as sort of a slow motion destruction. Read more…

Make Banks Work for You.

bankrates

How I locked in a historically low mortgage rate without getting lost in research, voicemails, and paperwork.

By Brad Beckstrom

I’ve been putting it off. Mortgage rates are at historic lows and, on paper, it made a lot of sense to refinance my current mortgage to a 10 year mortgage available at a lower fixed rate. It’s just that even thinking about my past experiences with refinancing both my home and some rental properties gave me gas. I knew I needed to get it done, especially since I’m always telling people to cut their largest expenses first. Our mortgage is our largest expense.

I’d made some mistakes in the past, like listening to some TV ad and then going to a website like Lendingtree. They say they’re going to find you the lowest rate but in fact they are getting all of your information and giving it to banks, selling your name as a lead. Immediately your phone starts to ring off the hook from banks you’ve never heard of. Luckily I gave them a Google voice number that sends all these folks directly to a digital voicemail graveyard. The messages are transcribed for me in a Gmail account and I quickly delete them in bulk. But, the calls kept coming for months. So, the lesson here is don’t give your loan or refinance information to any consolidator site, claiming to “find the best rate” or “do the work for you.” In fact, take this one step further: don’t share any of your personal information, email, phone number, address, income etc. with any mortgage site, including companies like Quicken Loans. Or any other big banks that bombard you with national TV ads. There’s a reason they can afford to advertise on the Super Bowl.

When it comes to finding a great mortgage rate, you’ll actually save time by doing it yourself, and you won’t have to share any personal information. Here’s a few steps I recently used to lock in a fixed 2.37% rate on a 10 year mortgage. With rates this low there’s really no benefit in getting an adjustable rate loan. Read more…

The Secret to Running The Business of You.

haveasmallnut

By Brad Beckstrom

“Have a small nut; that’s the key to life.”

Graham Parker.

What’s an aging rock ‘n roller to do, the once big recording contracts, the limos, seven-figure tour revenue all start to trickle away? Graham Parker, a British punk rock pioneer, knows exactly what to do: enjoy life, have a great time, and keep making music. Graham’s quote “Have a small nut; that’s the key to life” sums up one of the core principles of financial independence. The small nut he’s referring to is not assets, but monthly expenses. Rock stars, athletes, entrepreneurs, everyday folks all hit the same wall. We hear these stories all the time, from the extreme, like Mike Tyson blowing through $400 million and ending up homeless, to the highflying salesperson that overextended themselves, justifying their current expenses on future income fantasies, only to be chop blocked at the knees by a corporate reorg or downsizing.

Professional athletes know this story all too well. The average career in the NFL is about four years. In major league baseball, it’s a little over five years. Knowing this, it seems crazy when you see young athletes, blowing their entire signing bonus, borrowing against it before they even get a check. The secret is to do the opposite, save the entire bonus along with any windfalls, and keep your monthly expenses to a minimum. Read more…

Living behind the cutting-edge.

WearehappyinProp

By Brad Beckstrom

There were 38 different types of cables and chargers in the box. Some of them were probably over 20 years old. Things like monster cables for stereo equipment, firewires from old hard drives, various USB cables and splitters, ethernet cables and about 10 different AC adapters from games, various peripherals, and crap from former cable providers. For the last several years, I’ve been at war with stuff, investing some time to simplify my life. I’ve recently kicked this into high gear. Kelly and I are playing the minimalist game. We will be giving away nearly 1000 things this month alone. I’m constantly amazed at how much crap a family of four can accumulate over the years. Sadly, some of that stuff ends up in a landfill, benefiting no one.

I’ll avoid these mistakes again. The best way to do this is by not replacing the things that we get rid of. I’ll take a hard look at cheap products that are built to be discounted then discarded. I’ll skip the next upgrade cycle on my mobile phone and my computer.

Why can’t more things work like our blender or the microwave? We’ve had both since 1996. Over the years we’ve been tempted to replace them with newer versions but we stuck with them, even repairing the blender once. It’s funny, we probably use these two appliances more than any of the things that have become obsolete. So, my theory now is, if it’s not being used regularly we can probably get rid of it and not replace it.

First world problems Read more…

Load More