Personal Finance Tips

Billionaires Country of Origin
I’m reading Warren Buffets new book Snowball. It’s well written and interesting. Buffet is someone that I’ve always liked. Knowing more about his story made me curious about the nature of the super rich. After reading more on the Forbes Billionaire List I wanted to see how the top billionaires add up throughout the world.

Primarily I wanted to see the difference between self made and inherited wealth. Inherited wealth always seems like a cheap way to be included on this list. Those people that inherited their wealth didn’t have to work as hard for their money. As I looked through the pictures and read the stories of each billionaire it became evident that those billionaires that inherited their money are less attractive than those that had to earn it. I know that is really shallow but go take a look for yourself. You’ll likely come to the same conclusion.

The other thing that stood out to me is that the only women on the list inherited their fortunes, none of them earned their fortunes. Take that as you will but the fact remains. In the future this may change. 60 years ago segregation and all kinds of social prejudice ran rampant. Only time will tell if this will change.

Lastly, I looked for any correlation between countries that fostered entrepreneurs (thus having more self-made billionaires) and the average income per capita. Using PPP (Purchasing Power Parity) as a guide to the average person’s wealth I found some interesting factors.
Country PPP

1)The middle east had more self made billionaires that what I would have expected.
Middle East Riches People

2)The USA, Hong Kong, and the Middle East have about the same ratio of self made to inherited fortunes.
USA Richest People

hong-kong-richest-people

3)Europe and India both have similar ratios.
Europe's Richest People

Indias Richest People

4)Russia surprised me by even making the list. Changing from a communist to a free market government would make any inheritance impossible. As the couple generations pass their ratio should change.
russia-richest-people

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Finding information for online stock brokers isn’t easy. Every company is unique and the important things aren’t always obvious. To complicate things even more, companies that review brokers provide contradictory comparisons. It’s difficult to come to any definite conclusion on which broker is the best. I’ve tried to be objective and pick the best brokers based on a broad range of factors. The research also made it clear that different brokers are better for different kinds of trading.

To make this concise there are some companies I deliberately left off. The three reasons most companies didn’t make the list is that they 1) didn’t have a mature offering 2) they weren’t technically online discount brokers 3) They were so close in price and offering to other players that including them would have been redundant. For example, Ameriprise is not on the list because they aren’t a true discount broker. They are more interested in using financial advisors instead of individuals trading. Another one I left off is BuyandHold.com due to their oversimplified offering. Lastly, there are many companies I left off because their pricing all hovered around $19.95/order and their offering was very close to Wells Fargo or Vanguard.

This list is a sample of unique discount stock brokers.


Best All Around Winner
TradeKing Online Stock Trading Review


Overall TradeKing Rating

Five star rating


Pros:

  • Very low online trading cost $4.95
  • Lowest broker assisted trades at $4.95
  • No minimum balance required
  • Lowest amount of fees compared to other brokers
  • IRA friendly with no maintenance fee.
  • Trade Stock, Options, Mutual Funds, Bonds, and CDs
  • Top rated website for usability.
  • Generous interest rate on cash balances
  • Best interest rates on margin accounts for small and medium accounts
  • Full suite of investing tools
  • No gimmicks or subscriptions to get the best price and service

Cons:

  • They are lower on their cash balance interest rate than Sharebuilder’s money market sweep. But it’s only by 0.7%.
  • For accounts with $1 Million+ OptionsXpress and Fidelity’s Margin interest rate is 5.25% instead of TradeKings flat rate of 7.25%. If you have less then a million dollars in your account TradeKing smashes the competition in their margin interest rate.
  • If you trade heavily with options they are second place to Zecco’s price.
  • No checking or debit card.

 

 

OptionsHouse - Low Cost Leader
Absolute Lowest Cost (Stocks & Options): OptionsHouse.com

Only $2.95 for stock trades and $9.95 flat rate for options (no additional contract fees). This is by far the best pricing on stock trading online. The best part is that they are backed by professonal grade investment tools. There are no maintenence fees, volume penalties, low account fees, and broker assisted trades are only $2.95. It took a little digging but they support bonds and mutual funds in addition to stock and option trading. This is the best deal I’ve seen in a long time. Visit OptionsHouse | See Full Comparison

Update: Get 100 Free trades when you open an account today. Click Here to Redeem Offer

 

optionsxpress
Low Cost with Powerful Trading Tools: OptionsXpress.com

Specializing in option tools and eductions as well as stocks, futures, mutual funds, bonds, ETFs, and SSFs. They are very competitive on pricing across the board with ultra low cost on option trading. No unexpected fees and no maintenance fee on IRAs or any other account. No extra cost for broker assisted trades, webinars, or tool center. | See Full Comparison

 

Sign up for Zecco today!
Low Cost with Forex Trading: ZECCO

Update:Zecco just added Forex trading. With Zecco there are no minimum balances to open an account. Stock trades are only 4.50 a trade. Their fees are minimal or non-existent with the exception of a $30 annual fee on IRA accounts. Signing up for an account online has been streamlined and is as easy as any other broker. To get 10 free trades a month you must make 25 trades or have a $25,000 minimum balance. | See Full Comparision

 

Long term stock investing:SOGOINVEST.com

Only $3 in and out for stock purchases. No maintenance fee on IRA or any other accounts. Allow fractional share purchases, automated stock purchases investing, and dividend re-investment. The only downside is a $2,500 minimum investment.

 

Best mid-range broker: Scottrade.com

Get Three Free Trades with Scottrade Code: QXEH0544
This is for the best broker that is in the middle between Premium and Standard discount brokers. Scottrade offers competitive rates with a lot of service and tools. They have the most physical branches than anyone else in the country. Scottrade is a broker that you can grow into and still feel comfortable with. They accommodate the small and large accounts nicely.

 

These are the complete numbers from the research:

 

Stock and Equity Trades

Base Rate
Phone Order
Broker Assisted
OptionsHouse
2.95
2.95
2.95
Bank of America
14.00
32.50
42.50
Charles Schwab
12.95
12.95
32.95
E-Trade
12.99
N/A
52.99
Fidelity
19.95
0
0
Firstrade
6.95
16.95
26.95
OptionsXpress
14.95
N/A
14.95
Scottrade
7.00
17.00
27.00
Sharebuilder
4 Buy/15.95 Sell
19.95
N/A
Sogotrade
3.00
N/A
N/A
TD Ameritrade
9.99
34.99
44.99
TradeKing
4.95
N/A
4.95
Vanguard
25.00
40.00
45.00
Wells Fargo
19.95
19.95
44.95
Zecco
4.50
N/A
19.99
AVERAGE
11.87
24.91
32.47

 

 

 

Account Details

Minimum Balance
Fractional Shares
Branches
Inactivity Fee
Sign-up Bonus
Bank of America
0
-
Bank
100
-
Charles Schwab
1,000
-
303
0
-
E-Trade
1,000
-
28
160
-
Fidelity
2,500
-
118
0
-
Firstrade
0
-
-
0
Yes
OptionsXpress
0
-
-
0
-
Scottrade
500
-
326
0
-
Sharebuilder
0
Yes
-
0
-
Sogotrade
2,500
Yes
-
0
-
TD Ameritrade
1,000
-
103
0
Yes
TradeKing
0
Yes*
-
0
-
Vanguard
4,000
-
-
30
-
Wells Fargo
1,000
-
Bank
60
-
Zecco
0
-
-
0
-

*Only with dividend reinvestment

 

 

Option Cost & Margin Rate

Option Trading Costs
Margin Interest Rates
Base
Per Contract
Exercises
/Assign.
Under 10K
50-100K
1 million +
OptionsHouse
9.95
None
0
4.45%
4.45%
4.45%
Bank of America
19.95
1.50
42.50
n/a
n/a
n/a
Charles Schwab
9.95
0.75
8.50%
6.50%
6.00%
E-Trade
12.99
0.75
19.99
6.99%
3.99%
3.99%
Fidelity
19.95
0.75
0
8.57%
4.50%
3.75%
Firstrade
6.95
0.75
0
9.00%
8.75%
5.75%
OptionsXpress
0.00
1.25
0
6.25%
4.00%
4.00%
Scottrade
7.00
1.25
17.00
7.75%
6.75%
5.25%
Sharebuilder
9.95
1.50
30.00
10.50%
8.00%
5.25%
Sogotrade
N/A
N/A
N/A
9.50%
9.25%
7.00%
TD Ameritrade
9.99
0.75
19.99
9.00%
6.25%
6.25%
TradeKing
4.95
0.65
9.95
9.00%
6.25%
6.00%
Vanguard
30.00
1.50
$30 + $2.50
?
?
?
Wells Fargo
9.95
1.00
34.95
9.50%
8.25%
7.25%
Zecco
4.50
0.50
4.50
7.95%
7.45%
7.45%

 

 

 

Cash Issues

  Cash Balance Interest Rates Accessing Cash
Under 5K
50-100K
1 million +
Check Writing
ATM
Bank Account
Bank of America
?
?
?
-
-
Yes
Charles Schwab
0.50%
0.50%
2.05%
-
-
Yes
E-Trade
0.05%
2.65%
3.50%
Yes
Yes
Yes
Fidelity
?
?
?
Yes
Yes
Yes
Firstrade
1.50%
1.75%
2.00%
-
-
Yes
OptionsXpress
3.76%
3.76%
3.76%
-
-
Yes
Scottrade
0.50%
3.25%
4.75%
Yes
-
Yes
Sharebuilder *
4.18%
4.18%
4.18%
-
-
Yes
Sogotrade
1.25%
2.25%
3.25%
-
-
Yes
TD Ameritrade
0.05%
0.30%
1.85%
-
-
Yes
TradeKing
3.41%
3.41%
3.41%
Yes
-
Yes
Vanguard
?
?
?
-
-
Yes
Wells Fargo
?
?
?
-
-
Yes
Zecco **
4.08
4.08
4.08
-
-
Yes

*Sharebuilder uses DBMXX money market account.

 

 

Mutual Funds Details

Mutual Fund Trading Costs

# of No
Fee
Funds

No-Load No
Fee Program
No Load Fee
Load Funds
Bank of America
1,300
Yes
45
45
Charles Schwab
2,000
Yes
49.95
49.95
E-Trade
1,175
Yes
19.99
19.99
Fidelity
1,400
Yes
19.95
19.95
Firstrade
Yes
9.95
0
OptionsXpress
N/A
No
14.95
14.95
Scottrade
1,150
Yes
17
17
Sharebuilder
N/A
No
N/A
N/A
Sogotrade
N/A
No
N/A
N/A
TD Ameritrade
1,300
Yes
49.99
0
TradeKing
-
No
14.95
14.95
Vanguard
N/A
No
N/A
N/A
Wells Fargo
800
Yes
35
25
Zecco
-
No
10
N/A

 

 

 

IRA Details

IRA Costs
Annual Fee
Termination
Bank of America
0
75
Charles Schwab
0
0
E-Trade
160
60
Fidelity
Firstrade
0
0
OptionsXpress
0
0
Scottrade
0
0
Sharebuilder
25
50
Sogotrade
No IRA Available
TD Ameritrade
TradeKing
0
50
Vanguard
30
Wells Fargo
30
50
Zecco
30
30

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Understanding My Credit Score

Understanding your credit score is divided into five areas. Each area helps lending instituions determine how risky you are. If you are a new creditor, with limited types of credit, and have made late payments, your credit score will be very low. On the other hand if you have a long history of payments with various types of credit your credit score will be very high.

The Five Areas in detail are:
What is your debt to available credit ratio? Simply put, are you maxed out. If you have a $1,000 credit card are you carrying a balance of $999 which goes past the limit occasionally? If you give yourself a zero here. Another part of this calculation is your debt to income ratio. If you make $35K a year and you have $20K in credit card and auto debt your ratio is not looking very good. Paying off your debt and living below your available debt will raise your credit score.

How long is your credit history? This is an important because it helps creditors discover your spending and debt habits. The longer you have handled debt responsibly the more credit they want to give you. When my brother was applying for a loan on his first house the loan agent told him to get a department store credit card. After he got a card and used it for a few months he was eligible for a mortgage. Kind of scary that a $100 in-store credit card could make it possible to buy a house but there it is.

Are you timely with your payments? Never be late on a single payment. In my experience if you are late by a day or two it doesn’t show up on your credit report. Besides having to pay a fee you won’t be in trouble there. If you are more than a month late you are getting a permanant mark on your credit report. While your score will rebound over time creditors will always be able to see your little boo boo.

How many credit cards are you applying for this month?
If you are loading up on credit card accounts and buying new cars it will hurt your credit score. Every time you open a new line of credit your score takes a hit. If you open 2 or 3 cards within a month your sending the message that you’re crazy and intend to leave the country or something. Try to avoid this mistake before making a big purchase. It could cost you from buying your dream home.

How diverse are your lines of credit? If you have a number of different types of credit is shows that you’re mature with your accounts. If all you have is department store credit, and nothing else, it shows that you may not be capable of handling more credit. Try to apply for a signature loan instead of going to mom and dad for that small loan next time.

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Can you imagine getting $279 worth of groceries for 39 cents? A woman named Kathy Spenser is feeding a family of 6 on less than $4 a week. Occasionally she goes negative and has to buy something so the store doesn’t end up giving her some change back! How is she doing it? She clips coupons and looks for loopholes in sales. When the time is right she uses both to her advantage and ends up getting many items for free. In some cases she actually makes money on a given promotion.

The most common techniques she’s using are:

1) Pairing Coupons with items that are on sale. A $1 coupon for something that went on sale for a dollar equals free!
2) Networking online with other moms that are doing the same thing. She’s part of these groups How to Shop for Free, Big Tent Free Shoppers
3) Stock piling common items. When an item is almost free (or completely free) she’ll buy all she can.
4) Collecting coupons from newspapers, grocery stores, manufacturere’s websites, ebay, and using free printable grocery coupons online.
Free Grocery Coupons - Stock Pile Toilet Paper

Source:
http://www.boston.com/bostonglobe/magazine/articles/2009/08/16/the_queen_of_coupons/

She was first featured in the Boston Globe

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online stock tradingOnline stock trading is fast, easily available and profitable. This is why there are so many aspirant traders who want to profit part time or full time while sitting at their own computers. Online stock trading can be done globally, from the location of the trader twenty four hours a day. Transactions are executed and results are available within minutes. Online trading can baffle the beginner and learning before acting is the best course for beginners who want to trade in stock online.

The first step is to get the required equipment for online trade. These include a PC with plenty of memory, a large monitor or monitors, trading software, a broadband internet connection and a UPS. Beginners should also open a bank account where profits can be deposited and purchases can be paid for.

For beginners, information and learning are the keys to successful trading. There are books by famous stock traders available at online shopping portals and in bookstores to help a beginner to understand the many facets of online trade. E books, articles and courses are available online for free and for a fee. Online classes and webinars on online trading can be accessed on the internet.
Beginners should keep a small amount of money in their budget while trading online. The budget can increase as profits flow in. The trader should not trade beyond the budget for starters. Any profit made should be wisely invested. The budget should include fees and commissions charged by the broker for each transaction.

Beginners should explore and experiment with different strategies. They should mix and match different methods to find the strategy that suits their needs best. Beginners should keep backup strategies in case the strategy used does not work. The best approach is a flexible approach. Beginners should learn to combine strategies or use a single strategy at different times to make the trade profitable.
Stock trading aspirants should use demos and simulated trading platforms that are available online for as long as they remain uncomfortable about investing real money. Experts believe that beginners should trade with money after making at least ten successful simulated profits. Beginners should make as serious an effort in simulated trading as they should when trading with money.
Beginners should find a good trading platform and sign up. The trading platform should be a well known low cost platform that caters to traders with a low budget. Beginners should choose a platform that has an efficient support system. There should be tools on the broker’s website that offer instant access to the account of the trader and the trader should be able to view all transactions instantly. The platform should be secure and the broker should be a member of an investor protection organization. The system must have state of the art hacker proof functions in place.

Success in online stock trading is a slow and steady business. With careful study and experimenting with strategies, beginners can start making profits in online trade in a matter of months. It is also a good idea to compare online discount brokers for the best value.

TradeKing Online Stock Trading Review


Overall TradeKing Rating

Five star rating

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Finding the right online stockbroker is a personal choice, which is normally based on your preferences, level of preferred services and financial requirements. It is without a doubt one of the more crucial decisions you can make next to choosing what to invest in. In this article, we have highlighted some of the top online brokers, and we are going to go into some of the things you should consider. A useful suggestion would be to prioritize features as you will often struggle to find one separate company or broker that can meet all your requirements. Below is a ’09 survey that was sourced from “Smart Money’s” they are the top 16 online stock traders and have been given a star rating from one to five.

Obviously one of your main requirements is that of the accessibility online. So to answer this question, you will need to find out if they operate a software platform, meaning you have to download software in order to use it, or does it have an encrypted account that you have to log into. In deciding which of these two options are important for you, you will need to examine your current situation. Are you continuously traveling, and say, prefer to do your Stock trading while on the beach in Baja, or is this a part-time hobby, and you have a set location. Basically you need to determine the level of security you’re prepared to accept.

Find out what hidden fees there are and also what the minimum deposit is. The majority of brokers will have a minimum deposit for you to open accounts. Bearing in mind some of the larger companies will require between $5000 and $10,000 deposit and if you haven’t made your millions just yet, this might be an unrealistic requirement for you. Be sure to read and study the fine print, there are all sorts of clauses and restrictions, don’t think just because there is no minimum balance that you get away scot free. Most of the time, they will have a higher maintenance fee. Ideally you should find a broker that meets your deposit budget and has a low maintenance fee. Another issue to consider is your commissions, although they are a normal part of trading. You don’t want your profits being shared out to graciously to your broker. The best is to find a flat fee for stock trading.

Depending on the type of person and personality you have on trading, the tools your online stockbroker provides will also help sway your decision, as well as what up to date information or news they can provide you. Remember to always use the free trial offer or send an e-mail asking to get limited access to their back office to see all the tools and features and how user-friendly they are for you. Some online brokers, depending on the situations will also offer you broker assisted trading; this will provide a world of benefits to you and can help you conduct trades. If you ever get stuck or unsure the broker might be able to point you in the right direction.

TradeKing Online Stock Trading Review


Overall TradeKing Rating

Five star rating

Having an online community for traders is also very handy. It will allow you to converse with other traders, and learn from their mistakes.

Rank
& Broker Name

Cost
Per Trade

Investment
Products

Trading
Tools

1.
E-Trade

$9.99

4
stars

5
stars

2.
Fidelity

$10.95

5
stars

5
stars

3.
Charles Schwab

$12.95

5
stars

3
stars

4.
TradeKing

$4.95

3
stars

5
stars

5.
TD Ameritrade

$9.99

5
stars

5
stars

6.
Muriel Siebert

$14.95

3
stars

5
stars

7.
Scottrade

$7.00

4
stars

4
stars

8.
Firstrade

$6.95

4
stars

3
stars

9.
OptionsXpress

$9.95

3
stars

5
stars

10.
Bank of America

$14.00

4
stars

4
stars

11.
Just2Trade

$2.50

2
stars

4
stars

12.
WellsTrade

$19.95

3
stars

1
star

13.
ShareBuilder

$9.95

2
stars

1
star

14.
WallStreet-E

$9.99

4
stars

3
stars

15.
Zecco Trading

$0.00

2
stars

2
stars

16.
SogoTrade

$3.00

1
star

2
stars

 

zecco review rating

With Zecco there are no minimum balances to open an account. To get 10 free trades a month a $2,500 minimum is required. They have very little fees with the exception of a 30 annual fee on IRA accounts. When I signed up for Zecco the paperwork was a nightmare but I think they’ve fixed that now. They seem to be adding more and more to their offering and will be a viable broker into the future.

Start an Account with Zecco

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These are some great personal finance videos. They cover some basic and advanced strategies for personal finance, investing, and saving.


Mint Video- The Three Principles of Personal Finance

There have been over 10,000 books written on personal finance. This video summarized the main points into three major areas of personal finance. The CEO of Mint.com talks about making smart decisions that have greater impact in the long run. Things like renting instead of buying, investing early in life, having a credit card that pays out rewards, and other personal finance tips are discussed.


SNL Video – Don’t Buy Stuff

In this video a couple are having a hard time making ends meet. They continue to get more bills and have tried a number of things like pulling out loans to make payments on their existing debt. The author of a new system teaches them a sure fire way to get out of debt. The ideas are strange to the couple but the author helps them understand tips like: “If you don’t have money, don’t buy stuff.” and “You make sure you have money, then you buy stuff.”

Warren Buffet Speach to Univeristy of Florida MBAs – Three Videos

In speaking to an MBA class Warren Buffet provides great words of wisdom. He talks about what makes a wise investing decisions. In this video talks about the idea of investing in a person you know. Would you pick the smartest? The most social? What qualities do you look for? Hopefully you become the type of person that you would like to invest in.

Words of Wisdom

  • “Japanese companies earn very low returns on equity.”
  • “Time is the friend of a good business and the enemy of a bad business.”
  • “If you risk something that is important to you for something that is unimportant to you, it just does not make any sense – and the odds don’t matter.”
  • “I was going to do the same things when I had a lot a money as when I had very little money.”
  • “You are out of your mind if you keep taking jobs you don’t like because you think it will look good on your resume.”
  • “The beta of a stock doesn’t tell you the risk of a stock. It doesn’t tell you a damned thing about the stock.”
  • “Taking a job you don’t like is a little like saving up sex for your old age.”


‘Money As Debt’ Video – How money is created.

The “Money as Debt” video describes what money actually is. The video explains how money is being created through debt. The video provides a history of money and how bankers have created money. Modern financial policy and fiat money principles are not sound or logical. This video goes in depth about how the current financial system works.

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Free personal finance software helps you keep track of your expenses, income, and everything in between. There are a number of free apps you can download for free. Some of these are opensource, freeware, or online accounts.

Free Online Software


Mint Personal Finance Software

Mint – This is the most popular free solution online. Mint automatically pulls in your financial information from a variety of different sources. It keep tracks of checking balances, credit card bills, stock trades, and home loans. Best of all Mint categorizes your expenses and lets you see your spending habits at a glance. Mint also provides recommendations for new credit cards, new savings accounts, and other services that could save you a lot of money. Mint has the easiest interface and provide a lot of value for the price…free.

Quicken is now free

Quicken In the last year Quicken became free. To make a profit Quicken evaluates the information you enter and suggests some of it’s personal finance products. One thing that makes Quicken unique from Mint is the software download and installation. Personally I prefer online access because when you have a hard drive go out losing all that work can be really disappointing. If you choose the internet route I would choose Mint; they are easier and have a better interface and you won’t be up sold…ever.

Free finance software gnucash logo

GnuCash – Built for Mac, Windows, and Linux. GnuCash is ideal for personal and small business. It can track bank accounts and investments. It is freely licensed under the GNU GPL.

Open source personal finance software - Grisbi

Grisbi – Grisbi is an open source personal accounting app released under the GPL licence. Grisbi is simple, intuitive, and very powerful if you spend a little time on the setup. Made for Windows and Linux. This is not considered freeware but it is free. Open source software is made possible by developers donating their time for the betterment of an application.

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Free ways to get in shape.

Getting fat is expensive. Weight loss shouldn’t have to be. Why spend a lot of money on equipment, gym memberships, and special diets when there are a lot of great free weight loss tips that work wonders.


Weight Loss Paradigms


Burn More Calories Than You Eat

This is a lot like the personal finance tip, spend less than you make, in reverse. If only switching the two could be easier.

Routine Trumps Everything

Routine is the most powerful weight loss tip. The Grand Canyon was carved out of stone by the persistent routine of rivers and streams. The day you make up your mind to lose weight it’s really easy to get excited. In the excitement a lot of goals, equipment, and extreme measures are taken. After about a week or two most people are back in their old routine and all their goals fade into the past. If you make a single weight loss goal forget about how much you want to weigh or anything else. The one goal you should have is to stick with a routine for a very long time.

System Improvement

If you have a broken system, or a system that is doomed to make you fat, you’ll be fighting an uphill battle all the way. What is a system? A system is like routine but it also includes mindsets, friends, and behavior. If you really want to lose weight you have to change the system. In a way it’s much like quitting smoking. There needs to be a system level upgrade for this to work longterm.

Bring a friend

Peer pressure and companionship are very powerful forces in our lives. Sharing a goal to lose weight with a friend can be a source of motivation and support. Even better, involve your friends, join a team, or make it interesting with a bet (the more money the better).

Make changes you can live with forever

If you make a change make it something you can do for a very long time. You shouldn’t dread your diet or workout routine. Try to incorporate changes that will stick. If you make sacrifices, make sacrifices that don’t hurt too bad. An example of this is when I made the goal to run every morning. The first week was no problem. The second week got even harder. There were some mornings I didn’t want to wake up and get ready. Sadly my routine died in the second week. There was one thing that made it die, the challenge was too much for me. The solution to this was easy. Instead of running everyday I made the goal to get out the door everyday. If I felt like running, fine. If I wanted to walk for half an hour that’s fine too. This flexiblity made this much more manageable. I can see myself doing this for a very long time.


Systematic Weight Loss Tips


A recent study found that it doesn’t matter what kind of fad diet you try. The bottom line is calorie intake. It doesn’t matter what you eat as long as you’re eating less.

For people who are trying to lose weight, it does not matter if they are counting carbohydrates, protein or fat. All that matters is that they are counting something.

While the diets were not named, the eating plans were all loosely based on the principles of popular diets like Atkins, which emphasizes low carbohydrates; Dean Ornish, which is low-fat; or the Mediterranean diet, with less animal protein. After two years, every diet group had lost — and regained — about the same amount of weight regardless of what diet had been assigned.

The lesson, researchers say, is that people lose weight if they lower calories, but it does not matter how. Source New York Times and HarvardScience

It’s been shown that those that follow Atkins diets tend to eat 20-30% less calories. This is a result of shortage of acceptable protein in everyday life and due to boredom with an all meat diet. Most diets limit calories by cutting out major portions of available calorie sources. By cutting out all sugars and carbs you’ve cut out 80% of casual calorie consumption for most people. The same idea works with scheduling or portion control. In addition to cutting out boredom and over eating you might also include some type of routine you need to follow before eating. Here are a list a ways to limit calories in a major way.

Pick one of these things.

Leave off the Fats

Make a commitment to avoid butter on things, deep fried foods, junk food, or potato chips. Because fats are so concentrated with calories you have to eat much more to feel full. You could easily eat three to four times more calories because it tastes better than normal food and it takes the same amount of mass to fill you up. Avoiding fats can cut hundreds of calories out of your diet and leave you feeling healthier too.

Cut back on Carbohydrates & Sugars

Soda pop, juices, and alcohol have a lot of hidden calories. Eliminating calories that you drink will have a major impact on your weight. Try to drink water when possible. The relationship is still unknown between diet soda and obesity but there is a connection. Try to avoid all forms of good tasting drinks and stick to old fashioned water.

Another tip that works is cutting out over processed breads and snacks. Avoiding white bread and eating whole grains is more nutritious and helps you feel full longer.

Reduce or Eliminate Meat

There have been a few stories lately of Vegans (more strict vegetarians) killing their babies with non-animal product diets. The babies starve to death because the parents won’t provide the nutrition the babies need. These are extreme cases but it can be argued that animal products can provide important nutritional values.

To lose weight you might consider cutting out red meat, pork, or fast food meat. Another possibility is cutting meat out of every meal except dinner.

Cut out processed foods

One easy test for this is counting they number of steps it takes for the food to get to your mouth. If all you need to do is open a wrapper and eat, the food is highly processed. The more steps required to prepare a food the better it probably is for you.

Another aspect of overly processed food is the amount of nutrients the producers remove in order to preserve texture, flavor, and shelf life.

Avoid Eating Out

Restaurants have one goal in mind and that’s to make sure you enjoy your food. Part of making your taste buds happy means adding extra sugar, salt, & fat to your meal. You might be surprised to know that a Big Mac has 9 grams of sugar in it. When you make food at home you generally use 50% fat than what restaurants think is normal. Packing your own luck can save you a lot of calories and help you slim down. It will also save you a bundle from a personal finance perspective.

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