Living on Cash Basis Only

November 10, 2011 By 4 Comments
Twitt

Photo of Randy Legaspi

By Alpha

Subtitle: CardLess for Two Weeks – what did I realize on spending cash only?

Before plunging into the 30-day challenge on using cash-only, I was only using one credit card for our purchases. But even having one plastic tucked into the compartments of my wallet is easy enough for me to use it out of convenience. In short, this card was my wallet’s BFF for the longest time, until I decided to finally ditch it. Putting my words into practice was my number ally. When I wrote about my decision on a cash-only basis  in this post, I know I just have to be true to my words not only because you (my readers) have witnessed this challenge but because I want to go back to basics.

Back in the years when I was still building up my credit, I was eager to be offered with enticing 0% APR in the mails. I was looking forward for credit card companies to offer me a sizeable credit limit. At that time I thought my credit limit was equivalent to my power of consumption (read: income versus credit limit) and my ability to purchase goods. But all that was, had become a memory in the past.

Now, two weeks into my cardless life I have realized a few things:

  1. You don’t get the store discount, but you get your sanity back – when we stopped by the Old Navy store to buy a ten-pack of socks I was hoping I could slice down the price of the package from the sale price of $6.00 to $3.00 if I use the coupon they sent in the mail (I was happy thinking of the deal). But when I got to the cashier and handed her my coupon, she asked for my credit card too. I didn’t have my card (I believe I have already cut it out) at all, and I was hoping I could get the two shirts at $4.00 each along with my extra shirt purchases. But when she said she can’t give me the discount, I just went ahead and paid the $6.00 sale price on the socks only. Although I might not have gotten the 40% off, I know I am back to my sanity – because it save me more money. I was able to let go of the two shirts that I hoping to get a steal on and left with what I truly need.
  2. You spend lesser – If you have only $20 in your wallet, you begin to think thoughtfully of how to spend that $20. Instead of not thinking of what to buy, you begin to calculate what should be spent on and what should not.
  3. You are more thoughtful of your spending – Because you’ve driven to the bank to take the cash out, you really think more of what you will spend on to conserve your money. Once the money you took out from the ATM a couple of days ago is gone, then you’re gonna have to drive back to the bank and plan for the trip. It happened to me on a Friday, when all that was left on the money I took out was $10 and I stopped by the Walgreens to get some milk. As I entered the Walgreens, I started to think that I need to buy a fwe other things but because I only had $10 in my wallet, I was thoughtful enough to just buy the milk.
  4. You think twice before you place an item in your cart – Do I really need this? Can this wait until next week? Will this be on sale soon? Will I eat this tomorrow? – these are questions that may prevent you from grabbing an item off the shelf and placing it in your cart. You realize that if you pose these questions, you are more likely to return items that you don’t necessarily need back to its original place.
  5. No more splurging – You won’t splurge because your cash is only limited. When you have cold cash on your hand, splurging is out the question. In the first place, who would want to carry $500 in bills to buy that ostrich bag. So, splurging is eliminated with cash.
  6. You get creative with your activities (no more malling) – I saw myself avoiding the malls since the day I stated living on cash basis only. This is good because it gets me to stay home with my daughter and spend more quality time other than window shopping at the mall. This is also good because I get to save the money on compulsive buying whenever I go to the mall.
  7. You ask yourself more: “do I really need this?” – and you ask yourself many more times that you’d end up not taking the item. Remember less is more.
  8. You learn how to prioritize what to buy – and you also learn to wait and practice patience. One of the many things that our current generation has been guilty of is the instant gratification of all material things. We feel as if we are entitled to own things now, right at the moment that sometimes we forget to prioritize what is really important. I reallized that in using cash only, I learn how to buy things that I just need for now – and not buy things with the “just in case” mentality.
  9. You smile more – because you are with the moment of spending what is really on your hands, I realize that I avoid thinking of the bill that will come up after the transaction. I feel that without the hassle of thinking of going over my budget limit for the month, I become more in control of my own financial life. I also feel empowered that I can do it; that I suppress what I do not truly need. I also feel like I am really living at the moment not for whatever tomorrow ‘s paycheck will bring me. Thus, I smile more!
  10. You start to think that less is definitely more – In my pre-cash days (which was not too long ago – about two weeks ago, but I’ve been proud of it) I always thought that if I use my AMEX I will be earning 10% back on all purchases, that I’d be getting a wonderful freebie. Don’t get me wrong, I love getting in the mail my $25 gift card every time I swiped a cumulative amount of $2, 500 – but the reality is – this is just a gimmick!  Yes, I have probably received at least thirty of them in the mail throughout the course of my a member of the card’s club, but that wasn’t really the reward. Surely, I would have been more cognizant of what I used to buy, but because credit card companies really play with our human nature of “wanting things for free”, I fall for it. Many times, my husband would encourage me to use my credit card because of the “rewards” that come with it, but oftentimes I know that I can reward myself more than the $25 gift cards that come in the mail.

Yes, I know I am still in the earlier stage of my challenge but knowing that I am doing it now and resisting the temptation to go back using my only credit card is a big achievement. Perhaps in a month’s time I will be as golden as the Buddha in Thailand.

I will keep you posted on this journey!

So, stay with me!

 

If you would like to follow me on this journey, make sure to like my facebook page. If you want to support me on this challenge, like this or share this post on facebook!

Filed Under: Goal setting, Investing, My Journey: Cash Basis Only, Photography by Randy Legaspi Tagged With: , , , , , , , ,

Thank you very much! A little effort goes a long way

July 30, 2011 By 2 Comments
Twitt

I would like to take a break from my regular post to say and express my biggest THANK YOU to all of YOU who subscribed, read, re-posted, sent to their family members, relatives, etc. on my blog!

“Thank YOU very much!” (to my family members, friends, classmates, neighbors, etc.) for taking the time to read my blog and for spreading the word of inspiration, motivation and success. I really appreciate how you set aside some of your valuable time to read through my posts and help spread my blog. It is my hope that with YOUR help we can all help each other grow, inspire, motivate and eventually succeed in what we are all doing. People like you, who cares and believes that we can all draw inspiration from each other is truly remarkable!

Again, thank  you very much!

You might be wondering why in the first place I asked you to subscribe.

Well, here’s what I had in mind twenty minutes before I wrote the email and blasted your FB accounts six days ago (which you warmly and very kindly accepted it, thanks again!):

1. Why am I devoting my time to write in the wee hours of my summer? What do I want to take from this? My answer: Because life is too short and one of the things I would like to do is to write, share and inspire some of the things I’ve learned and read. I am thinking of “legacy” in a larger scale. Sure, I hope I will have some type of legacy to my daughter, but I would like an “audience” to hear some of these, who in turn, will also inspire me to do what the Lord God wants me to do with the time, talent and skills He has given me.

2. What is my goal or goals in continuing to blog – daily? My answer: (We all know that when we set goals, it has to be specific and – S. M. A. R. T. ) So, I said  to myself, why not start with having 100 subscribers in seven days! Yes, it was scary to think about having to convince 100 people to get to subscribe to my blog, but my Mom said, “I have 700 friends on FB, 100 is nothing!” – so, that gave me hope to really set the number to 100. It is true that 100 Subscribers might be a long shot in only seven days, but if I raise the bar and get a number closer to one hundred, then I have to stick to 100.

3. What do I plan to do after that? My answer: Well, only God knows what He wants me to do with the achievement of the first step. But here’s what I would like to happen: I would like YOU and the five  people  closest to you to gather inspiration from each other. Let all  your experiences (including disappointments) guide you  and inspire you to become a better YOU!

Thank you very much!

Cheers to all of YOU!

Maraming salamat! Muchas gracias! Merci! Doh je! Danke! Shukran!

Note: I was able to have 80 subscribers on my  sixth day (today) after I sent my email request via FB. Not quite 100 – but I have one more day left. PLEASE SPREAD THE WORD: Twenty more subscribers will make my goal an accomplishment by tomorrow! 

- Alpha

If you enjoyed reading this post, please share this to  your friends on FACEBOOK or DIGG. Thank you for continuing the cycle of inspiration, motivation and success!

Filed Under: General, Goal setting Tagged With: , , , , ,

Day 45: A Review of the Three Lists

July 27, 2011 By 1 Comment
Twitt

Let us take a moment to see how we are doing with our three lists.

Last week, I challenged you to start writing your three-lists in life. These lists will help  you get to where you want to be or own the things you would like have. These lists will also serve as your  guide, your essential tool in your everyday life and how you will structure your everyday routine around them. These lists will also prevent you from doing unnecessary things that are not productive or important for you. These lists will make your life seem more meaningful and purposeful. Besides you will never have the things you would like to have if you do not exactly know what they are Or, you would never be the person you dream of, if you didn’t start dreaming about who would like to be. That was why, I encouraged you to write down the three lists. If you missed last week’s post or if you would like to take another peek on what I am talking about, here is the link: Day 36: Three Lists

Now, ready for the big confession?

If….

you tried to sit down and find peace to start your lists, give yourself a gentle tap on your back. (nice try, buddy!)

you started writing your Have-list and came up with at least 10 things, you can now give yourself a hand squeeze (keep it up!)

you finished all three of the list, here is for you:  Pop a bottle (whatever you like to drink occasionally) and Cheers!(you’ve done a yourself a favor!)

For this week’s challenge, I would like you to increase the amount of items on each list. Instead of  merely thinking and writing what comes first in your mind, I would like you to stretch out your imagination and come up with the following:

  1. 101 Things for The To-Do List
  2. 101 Things for The Have List
  3. 101 Things for The To-Be List

I have found that doing this 101- Things exercise is really stretching my own imagination and my own wants/goals/dreams which is beneficial. You will also find it to be challenging especially when you reach beyond number fifty. You will realize that after listing your 50th item, you will run out of ideas – but this is where your dreams will get wilder, bigger and almost unimaginable!  Don’t stop the exercise until you reach your last number, 101. It may take a few days or even a few weeks to complete all three of them- but it will be worth it.

Mine is still incomplete. I am constantly adding an item everytime I think of what I need to include in my lists. I do not know how long will it take me to finish my lists, but rest assured, I have already given myself a pat on the back!

- Alpha

If you enjoyed reading this post, please share this to  your friends on FACEBOOK or DIGG. Thank you for continuing the cycle of inspiration, motivation and success!

Filed Under: Goal setting, MOTIVATIONS Tagged With: , , , , , , , , ,

Day 25: Have it your way

July 7, 2011 By 2 Comments
Twitt

Yes, this is from Burker King’s famous advertising line! Does it work? Sure it does, many folds. I remember hearing the story behind this phrase and how it revolutionized the way people’s orders are being taken. When I look back, it sure does make people happier, including me.

A few days ago on our way up to NH, we stopped by a BK joint in Tilton,NH for a quick bite. As I placed our order, I asked the staff member if I could get the milk for Tala’s kiddie meal order instead of the apple juice and her reply was, “You can order anything you want. You’ll have it your way!” then, she smiled as she punched in our final order.

Looking at the previous scenario made me really think about one of the concepts in the book, The Secret  by Rhonda Bryne which I read many moons ago. In one of the chapters there, it was stated that whatever you ask the universe, the universe will respond to you the way you had formulated your question. For example, if you wanted a Haymarket Burberry bag in medium size – you must really put this exact image of this particular brand to the universe (in the form of positive thinking,affirmations, etc.) and the universe will respond back, exactly how you send out to the world.

It is like ordering food- you have to really know first what you want and then place your order. Once you have placed your order, you are going to really love what you ordered and be excited about it – after all, you’ve paid money and was craving to have your orders fulfilled perfectly!

So, if you want something – place your “order” any way you like it.

But be careful what you ask for, you might just get it.

 

- Alpha

 

If you enjoyed reading this post, please share this to  your friends on FACEBOOK or DIGG. Thank you for continuing the cycle of inspiration, motivation and success!

 

Filed Under: Aspirations, Dreams, Goal setting, Positive Thinking, Success Tagged With: , , , , , , , , , ,

Day 23: Practice. 10, 000 hours will make you an expert! –Malcolm Gladwell

July 5, 2011 By 1 Comment
Twitt

The theme in the book Outliers by Malcolm Gladwell is about successful people and how they were able to get there. It was clear how he analyzed and compared that not just the inherent skills of these people that made them who they are but a big part of them was also because of persistence and practice. He mentioned throughout the entire book that every successful person who is part of the American history or the world history and who has made a huge impact in the lives of mankind would have to have at least 10, 000 hours of practice, training, internship, hands-on learning before that person can be considered an expert in a field that he is associated with.

In reference to the 10, 000 hours of practice equals expertise, Malcolm Gladwell shared the story of how Bill Gates didn’t just become a computer geek overnight but he started way before he went to Harvard. When he was in high school, apparently he would sneak out in the middle of the night to his campus and re-construct or sometimes program some of their school’s computer codes and will stay there until dawn. It was to his advantage that their house is very close to his school, which during that time was the very first high school in the USA to have computer networking. He would toil hours and hours, from Mondays to Sundays during his high school years until he got to college. If you do your math, you multiply 7 hours times 7 days, that is 49 hours in a week; then multiply that by 52 (weeks) which is equals to 2, 548 hours; then multiply that by the number of years he was in high school, which was four – the magic number would total up to: 10, 192 hours!  By the time he went to Harvard he was already an expert. During his sophomore year, he dropped out – because he knows more than his professors knew that time.

The Beattles were also a legendary example of practicing 10, 000 hours  before they were able to rise to stardom. During the years of 1960 – 1963, they were playing in every possible clubs available in Liverpool and Hamburg, of which they gained more skills and learned to play, wrote songs at their best. When they first arrived in the US in 1964 for their tour, they had already over 10, 000 hours under their belt – and were ready to conquer the music industry.

Of course, we’ve heard the story of Thomas Edison going through at least 1, 000 light bulbs before he finally came up with the “perfect” light bulb.  We’ve read stories about local musicians, writers, singers, basketball players, etc. practicing until they can no longer move their bodies. But because of diligence and the habit of practicing, each of these individuals were able to prove that they can be the experts in their field.

Would you like to be successful in your field?

Do you think you have rendered at least 10, 000 hours in the area you chose to be successful in?

Would you like to be an expert in your field?

Would you be willing to continue to work beyond 10, 000 hours?

Practice.

Clock in 10, 000 hours or even more.

You’ll know, you’ll be an expert.

- Alpha

If you enjoyed reading this post, please share this to  your friends on FACEBOOK or DIGG. Thank you for continuing the cycle of inspiration, motivation and success!

Filed Under: Aspirations, Dreams, Goal setting, Success Tagged With: , , , , , , , ,