Tag Archives: food

3 Fun Things To Do With Your Money

Give it

If you’re a Christian this can be represented by tithing. However for non-christians generosity can still play a big role. Consider giving to charities, friends, organizations, causes and people in need.

With technology there are now so many ways to connect and give to others. Giving can change the way you see the world around you, make you more compassionate, and just make you feel better about yourself in general.

Enjoy it

Enjoying money can be fun! I remember spending money to go out to eat at a nice restaurant. It felt like such a reward to myself for the work I had done. Enjoying money, specifically money you’ve earned, can feel very, very good.

Stop and thing the ways in which you could enjoy your life and your money today. Prioritize the fun with your long-term goals about investing, giving and leaving a legacy. Often people struggle with spending too much money on things that don’t actually provide enjoyment. That is just stupid.

If you’re buying something or going somewhere to impress someone else you are committing two mistakes: 1) You’re spending money you could be investing or giving (which in and of itself isn’t a crime) and 2) you’re spending money on something that doesn’t really matter to you. Leaving a little money for your future should always be at the back of your mind. Which leads us to the third thing…

Grow it

Not a lot of people in society enjoy investing. The truth is, not many people have really gotten into investing, which hurts them more than they know. When I opened my Roth IRA, I put $5,500 in it. Even in the first half year it grew to almost $6,000, a $500 increase. I was pumped.

Realistically though, investing in a well balanced, thought-through planned investment portfolio isn’t always going to go straight up. Sometimes, even often, the balance is going to go down a little. That’s part of investing.

But as your balance grows steadily over time, you will begin to see why so many people are hooked on investing.

Conclusion:

Prioritizing these three things is both a challenge and a beautiful dilemma. It can feel like a blessing to have resources (money) to mange for your future and for your family’s future. That’s why it’s so important to think about these three things.

7 Things That People Never Spend Enough Money On

1. Paper

That’s a strange thing to lead the list with. However paper represents a mentality in the U.S., and especially in other countries, that puts people in a scarcity mentality. I’ve been personally at fault of doing this. Often I’ll try to save paper by writing on the other side or cramming everything on to one page.

This is particularly true when I am in school. I’ll take notes by putting everything close together. Any learning and memorization expert will tell you that leaving space on the paper gives your brain room to process and compartmentalize concepts and facts in your brain.

You need to be comfortable using up more paper, even if that means spending a minuscule amount more.

2. Seminars

Honestly this type of personal improvement hasn’t been something I’ve looked into in the past. However in recent months and years I’ve begun to see how others have used these as networking, learning, and inspirational events.

3. Health

I hope most people value health over money. The natural outcome of this value priority is that you should be spending the money you need to to keep your health at its prime. Don’t forget about health.

4. Others

Pouring money into others, whether through time and experiences, or generous gifts of items and money, is both a heart-warmer, and a perspective-changer. As soon as you begin to look outside yourself to help others, life becomes a ton more meaningful.

5. Car Maintenance

Changing the oil, replacing break pads, and doing general maintenance on your vehicles is a responsible thing for adults to do. It feels like you’re throwing money away, but in the long-term it can save you money in emergencies, breaks, and issues.

6. High Quality Items

Often it is wise to skip the name-brand items and go with cheaper things. This is especially true with things that don’t matter as much like cereal brands or food in general. However if you find an item is cheaper than another, this doesn’t mean instantly that it’s a deal. It’s possible that down the road you’ll spend money on replacing that cheaper item.

7. Books

Call me old fashioned, but I find books are particularly useful in learning. I have personally read hundreds (yes hundreds) of nonfiction books in my free time. While spending $1,000 on books (both e-books and physical books) can seem like a big waste of money when the library is just down the street, I see books as an investment.

When you see nonfiction books as resources and insightful gems of knowledge, it becomes natural to look at the cost-benefit of each book as a more than worthwhile investment.

I personally find physical books to be easier on my eyes and simply to read than e-books.

Conclusion:

Seeing every purchase as an investment can be a fun game to get your mind racing on ways to save and spend money wisely.

Should You Work on a Tip-based Salary or Hourly?

Do you value security or potential of higher income? That is essentially what it comes down to. Over the last few years I have had the opportunity to work in both the back (the grill line) and the front (as a host and busser) of the restaurant. I’ve had the opportunity to work at higher end restaurants (a sushi restaurant) with positive work atmospheres as well as lower-priced restaurants (Cracker Barrel) with slight less positive work environments.

Which is better?

To me clearly the former. However often because of connections, resume or simply location, starting at a higher end restaurant isn’t always an option. Although to be clear, higher end doesn’t always mean more positive work environment.

So back to the original question, which is better, to work at a tip-based job or something more stable like an hourly job?

If you believe in your abilities to work hard, be personable, sell to customers, and meet the basic requirements of your job, then the tip-based job will pay you much more over the long-term. However if you aren’t sure of you skills then working an hourly job can be better.

There are 2 keys that you need to follow when working a commissioned job verses a regular job:

1) How much you make is ultimately up to you (and the overall business of the restaurant)

Taking responsibility for every aspect of your job, especially when you get paid via tips, is crucial to making money. If you don’t acknowledge and adapt to weaknesses, mistakes and challenges along the way, you won’t be able to make the money you are probably aiming for.

2) Communicate with your supervisor as well as your fellow employees

Without communication, especially when the restaurant is busy, you risk losing your income, confidence, and sanity all at once. When things get busy, it can be especially easy to slack off when it comes to taking to the people around you. However when this happens items get dropped, customers, employees and managers get pissed, and you usually don’t get the type of tip you were striving for.

Ultimately I recommend getting a tip-based job over an hourly job simply for the reason that it can challenge you more and usually brings in more income.