Color Me Frugal- Yakezie Member Post

Yakezie Member 2H2014

by in Featured on Dec 29th, 2014

The summer after my freshman year of college, I was one of the most hated people in several towns in Illinois.  Complete strangers would see me and start yelling at me. People I didn’t know from Adam treated me like pond scum. My roommates and I got kicked out of our rental home in Collinsville, IL because we made our landlady’s adult children “nervous,” and we subsequently had to move south to Belleville.  Even when we lived in Belleville, I was working in Shiloh, and the people of that town hated me so much that they called the cops on me and I actually got escorted out of town by the cops.

So what does a relatively sheltered (and usually law-abiding!) small town girl from the frozen plains do to become so infamous and hated in so many St. Louis suburbs?

She sells books door-to-door.  That’s what. Read More

Featured

Should You Consider A Career In Investment Banking?

by in Personal Finance on Dec 28th, 2014

New year, new career?

If words such as takeover, IPOs, financial modeling, research, and bridge loans are some of your favorite conversation topics, you might want to consider investment banking as a career option. The same goes if MSNBC and Bloomberg TV are your go-to channels, and you have an addiction watching the red and green flashing lights of tickers go up and down all day long.

Investments banks have played a major role in M&A, underwriting, and raising money for the corporate world. Although investment banking has lost a lot of its pre 2008 luster, it is still difficult to get a job in this notoriously competitive and demanding industry. But at the same time, it is still a lucrative career choice for its most disciplined players. If you want to emerge as a winner in this field, familiarize yourself with the below:

Who Will Offer You An Entry-Level Role In Investment Banking?

If you wish to be a part of this industry that is constantly involved in shaping the destiny of major corporate houses, you have options to join one of the following:

  • Bulge bracket firms consisting of the top investment banks like JP Morgan, Goldman Sachs and Morgan Stanley.
  • Regionally oriented IBs or ones located in the middle market like Jefferies, Lazard or Greenhill.
  • Boutiques or specialized firms oriented towards a specific industry vertical – ex. program trading, bond-trading, technical analysis, or M&A advisory.
  • Merger and Acquisition wing of a large company, like General Electric, as an in house staff member who evaluates strategies for inorganic growth

How Do You Get Into Investment Banking? Read More

Yakezie Member Post – Financegirl

Yakezie 2H2014 Member Class

by
71[?]
in Featured on Dec 22nd, 2014

It was the end of October in 2011, right before Halloween, and I just found out that I had passed the bar exam. I was officially going to be a licensed attorney (the only thing left to do was get sworn in by the Supreme Court of Ohio a few weeks later). It felt amazing. I felt accomplished. All of my hard work had paid off.

Fast forward a few weeks, and I had the exact opposite feeling – fear. I learned that I owed $206,000 in student loan debt. My payments would run close to $2,000 per month. Graduating in 2011, with the legal economy not recovered (and arguably still not recovered), this would be roughly half of my paycheck.

I was an attorney. I was supposed to make bank! Read More

Featured

The 2015 Savings Challenge

by in Personal Finance on Dec 16th, 2014

Last week, Graham from Moneystepper launched the Moneystepper 2015 Savings Challenge where anyone, from anywhere in the world, in whatever financial situation they may be in, is invited to come together and work as a community to accelerate their journey on the path to financial freedom.

To keep things succinct, the key points of the challenge can be summarized as follows:

  1. Everyone strives towards the same two goals. These goals are designed to be appropriate for EVERYONE. They are:
    1. % Increase In Net Wealth
    2. Savings Rate %

These percentages have been designed to be appropriate (and comparable) for everyone: from people paying down mountains of debt to multi-millionaires.

  1. Each participant submits their two percentages before the start of the year, and their progress against their goals each month.
  2. The results are released monthly and everyone will be “grouped” with people who are of a similar net wealth (although participants’ net wealth will never be published) and who have similar goals.

Simple enough, right? But, hugely powerful – believe me! Read More

My 4-Month Experiment Not Using A Comment System – Was It Effective?

by in Lifestyle on Dec 4th, 2014

On June 2nd of this year, my inbox pulled in an email with a link to an article with this headline: “Your Comment System Is Killing Your Discussions and Community Building Efforts.” I was immediately intrigued for two reasons. One, it was written by Sam for the Yakezie network which I had most recently joined. I love Sam’s writing and the ideas he puts forth so naturally I was going to read.

I also was interested because I was using the DISQUS commenting system on my blog at the time. I had installed that at the very beginning of Luke1428.com after doing some reading about how to monitor the comment section of a blog. DISQUS was promoted in the literature I read as being a system that 1) helped block spam, 2) raised the quality of conversation by weeding out gutter-trash commenters, and 3) provided options for monetization if the user wanted to go that route. Plus it was being used by several well-respected and highly trafficked blogs I was reading at the time. So I thought if it’s good enough for the bigwigs it’s good enough for me.

But I suspected Sam had an ulterior motive for preaching against comment systems. A few weeks prior to his post, we had an email exchange one day because he couldn’t log on to DISQUS at my site and make a comment on one of my posts. After several emails we eventually got it worked out and he left a comment. But I was frustrated one of my users had to go through that mess just to comment and I’m sure he was a tiny bit annoyed as well.

So I figured when I clicked to read the article that DISQUS and all other third party comment systems would be skewered. I was right.

In general, Sam’s main argument for abandoning comment systems is that they put up a wall to engagement in that a potential user has to register with the system to comment. They must keep track of their username and password at all times if they want to join the discussion. Many people will balk at that request, refuse to comment and thus the discussion and community building efforts are hindered.

Sam admitted to me in response to my comment on that post that his observations were anecdotal, based solely on his own experience. So I decided to run an experiment to put some data behind his observations. Perhaps then I could find out if DISQUS had actually been hurting my community building efforts.

On July 12th, I scrapped my DISQUS commenting system in favor of the traditional WordPress commenting platform. All the original comments transferred over without problem. The only addition I made to the system was adding the CommentLuv plugin, which allows other bloggers to leave a link to their most recent post when they comment on your article. Read More

How To Create A Successful Blog: Don’t Ask For Too Much Too Soon

Giving Up Too Soon Is Like Asking For Too Much Too Soon

by in Lifestyle on Nov 25th, 2014

As bloggers, we know how difficult it is to gain the trust of a community. Way too many sites start off with a lot of enthusiasm and just fade within a year. Life gets in the way, and that’s fine. There are certainly more important things to do with one’s time than write all day. But for those of you who are serious about blogging, commitment and longevity is a must.

I no longer watch any TV shows live because the networks tend to cancel them arbitrarily mid-season without even an apology or excuse. After spending hours getting into the characters and story, to have a show ripped out from under me pisses me off. I feel like I ended up wasting a lot of time that could be spent doing something else. Now I only watch shows on DVD or Netflix after they’ve survived a third season. Three seasons is enough time for me to invest in the program.

The same thing goes with blogging. A lot of readers don’t fully invest their time on new sites. They know the survival rate for surviving past the 6 months, 1 year, 2 years, 3 years mark goes down at each step. Therefore, it is imperative for bloggers who want to make their sites more than just hobbies to survive for at least the first year. Otherwise, readers will tend to just stick with sites that have been around for years, despite having less interesting content. The Yakezie Challenge is six months long b/c it weeds out less serious contenders.

If you are a blogger looking to make connections with other bloggers, the same thing holds true about the importance of survival. Are you really going to bother spending a similar amount of time leaving comments and building a relationship if there’s a high chance the blog will fail? Of course not.

Giving up too soon is one of the top three reasons why sites fail. The other reason is simply unoriginal, unhelpful, uninteresting content. Write Whale Posts if you can instead. Let me discuss more about the third reason why so many sites fail. Read More

Are You Fully Utilizing Your Blog For Maximum Financial Returns?

by in Lifestyle on Nov 9th, 2014

Like many of you, I’ve been on this passive/semi-passive income building journey for quite a while now. I love the blogosphere because most of us like to write, and we’re all looking to see if we can develop a fun side or main income stream to buttress our financial situation.

In my latest passive income report, I finally realized that I’ve been seriously neglecting one key financial asset: my Lake Tahoe vacation property! It’s weird, because for the previous two passive income reports, I thought I was doing everything possible to boost my passive income.

I occasionally advertised the vacation property on Craigslist to supplement the existing efforts of the hotel property management company. But I stopped after about several months because it became tedious.

Then I fired the hotel property management company after six years and went with a new property management company that charged half the commission. The risk was that since they are an outside property management company, volume would decrease. But they guaranteed me a minimal amount of income to switch, so I wasn’t too worried unless they welched on their promise. I decided not to help them market my property due to the guarantee and due to my desire to focus on my consulting and online business.

Now that the annual guarantee income period is over, it’s best to help them, help me beyond just advertising on Craigslist and e-mailing my friends. I could write an in-depth post full of pictures about The Resort At Squaw Creek to rank for the terms “lake tahoe vacation property rental, Squaw Valley, Lake Tahoe, Resort At Squaw Creek” and link back to my property management company! If that post could sit on the front page of a Google search for years, then voila! An extra $500 – $1,500 a month in income could very easily be generated

So that is exactly what I did. I finally wrote a 1,550 word post about the best vacation property rental in Lake Tahoe on November 7, 2014. But what I should have done was write that post five years earlier when I first started Financial Samurai! Doh.  Read More

Four Important Hardware Peripherals for Your Mobile POS

by in Personal Finance on Nov 4th, 2014

So you’ve decided that a mobile Point of Sale system will work better for your small business. You already have your iPad (or other tablet) and have picked out the ecommerce software provider you are planning on using. But now you need to figure out which hardware add-ons you need. Unlike the older, cumbersome cash register terminal systems you are used to seeing, a mobile system provides an unprecedented level of mobility and flexibility.

You can use just the tablet and a cash drawer or you can outfit your system with all the hardware peripherals you’d expect to see with a regular register terminal. But what are the peripherals you should definitely get your hands on? Truthfully, that depends on your personal desires and the type of business you are running. However, there are some items that could be considered absolute necessities in any situation. Read More

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