What I've learned since moving to D.C. (some of which should be obvious): 0162

8051.  If it’s really an emergency, you can dip into other envelopes like you’re “eating out” envelope, but you’ll have to cut back until you replenish that envelope

8052.  (According to Jason Hartman,) when you’re looking for a rental property, look for a “rent to (current) value ratio” of ideally 1% of the purchase price;

8053.  Cash flow changes based on how you finance the property;

8054.  Your right eye is listed first on your (contact lens/eyeglasses) prescription;

8055.  K(entucky )F(ried )C(hicken)’s “Crispy Colonel Sandwich” is pretty good.  It tastes similarly to Chick-fil-A’s chicken sandwich;

8056.  I’ve gone on a trip/vacation (to the beach) with a woman (and her son);

8057.  Handjob in a hotel hot tub . . . check . . . fingering in a hotel hot tub . . . (double) check . . . sex in a hotel hot tub . . . (triple) check;

8058.  Sex on a hotel balcony . . . check . . . reverse cowgirl (on a chair) . . . (double) check . . . sex during (a) fireworks (display) . . . (triple) check;

8059.  All labor is honorable when done to create value for others.  Your rewards, financial and otherwise, are a reflection of the value you create;

8060.  I’ve introduced a girlfriend to my parents;

8061.  Take your glasses off before going into the ocean;

8062.  Oral sex in a hotel bathroom/shower . . . check . . . sex in a hotel bathroom/shower . . . (double) check . . . sex on a (hotel) bathroom floor . . . (triple) check;

8063.  Oral sex in a hotel room . . . check . . . dining table in a hotel room . . . (double) check;

8064.  Against a (hotel) window . . . check;

8065.  Sometimes money falls into your lap like a birthday gift, a tax return or an unexpected freelance contract.  Whenever you receive money you didn’t expect, use 50% of it for fun (usually buying something you’ve been eyeing for a long time) and the other half goes to your investing account;

8066.  When you get a raise, it’s okay to increase your standard of living a little, but bank the rest.  For example, if you get a $4,000.00 raise, take $1,000.00 and spend it, but save or invest the remaining $3,000.00;

8067.  It’s too easy to think a single raise lets you move up to a totally different financial level in a single step.  If you get a raise be realistic.  Treat yourself to something nice that you’ve been wanting for a long time and make it something you’ll remember.  After, save and invest as much of it as possible;

8068.  Once you start getting accustomed to a certain lifestyle you can never go back;

8069.  Categories of spending: 1.  Fixed costs (i.e., rent, utilities, debt, etc.) – 50-60% of take-home pay; 2.  Investments (i.e., 401(k), Roth IRA, etc.) – 10%; 3.  Savings goals (i.e., vacation, gifts, house down payment, cash for unexpected expenses, etc.) – 5-10%; and 4.  Guilt-free spending money (i.e., dining out, drinking, movies, clothes, shoes, etc.) – 20-35%;

8070.  The customer isn’t always right, but the customer does always have the money.  And with money comes power.  Don’t be afraid to use it;

8071.  Everything has a price and that price is not always measured in money;

8072.  A study by The California Institute of Technology and Stanford University found that people rate the same wine more highly when they’re told it is more expensive.  Moreover, functional MRI scans taken of their brains while they were drinking the wine suggest participants enjoyed the experience of drinking it more;

8073.  In a study, participants who took a placebo painkiller were told the fake drug cost $2.50 per pill.  They experienced more pain relief than those who were told the pill cost only $.10;

8074.  Count syllables in price tags: Consumer behavior research finds that when you remove commas from large price tags consumers perceive the price as being less expensive.  For example, a TV priced at “$2999” is perceived as less expensive than a TV priced at “$2,999.”  The only difference is “$2,999” sounds longer: Two-thou-sand-nine-hun-dred-and-nine-ty-nine (i.e., 10 syllables) v. Twen-ty-nine-nine-ty-nine (i.e., 6 syllables);

8075.  To override this natural impulse to misperceive the actual cost, make it a habit of calculating the final price (with commas) after tax.  Pull out your phone and add the tax.  Look at that number, commas included, and you’ll see the real cost/damage;
8076.  Stay ahead in conversations if you’re talking to a sales staff: On-floor sales staff are trained to pace and lead you.  They want you to admit to them what you want and then control your responses thereafter.  How this plays out: You go into a store intending to buy speakers.  You decide you’re not going to spend more than $300.00.  After some smooth talking, the sales person has you nodding your head, agreeing that $500.00 is better value for the speakers originally marked for $1,100.00 – at this point s/he has you beat.  Most people can’t recover and end up paying the sales upgrade;

8077.  To avoid this, you need to take the lead and keep it throughout the entire interaction.  When you start leading by asking questions the sales person is now on her/his heels constantly trying to regain position;

8078.  Don’t mind snobby staff: A study out of Canada revealed that shoppers looking at high-end items might actually be more likely to buy when staff play hard to get.  Marketing Professor Darren Dahl found that rude or “snobby” salespeople made people want to share in their exclusivity by purchasing luxury goods;

8079.  The flip side of this coin is befriending sales staff.  “Clienteling” is industry speak for getting the VIP treatment.  If you become friends with sales staff at high-end stores, often you’ll be invited to come to presales up to 30-40% off the week before the actual sale starts.  Most sales staff work on commission in higher-end shops so it’s a win-win for everyone if you shop more regularly;

8080.  Pay attention to colors: Good in-store marketing engages all five senses.  Your sight is probably the easiest to hijack;

8081.  When you see a sales sign that’s red it wasn’t by accident.  The color red is typically associated with a sense of urgency – buy now!

8082.  The color blue is associated with more reasonable prices.  Where you typically find blue signs are beside “New Arrivals.”  This lulls you into thinking you can afford what’s new, when really if you just waited a few weeks, the new arrivals would be marked down;

8083.  Black signs make you think of luxury.  You won’t make quick decisions choosing items with black signs, but the perception that the product is more luxurious will build in your mind and help you justify paying the expensive price tag;

8084.  Don’t feel bad about touching clothes: Stores need you to make a mess.  Touching items is a key component of making the move from contemplation to purchase;

8085.  Research out of Colorado finds that consumers need to touch items to connect with a brand.  This is why so many clothing stores display shirts and sweaters on flat tables:  It makes it easier for you to set stuff down so you have two hands to touch the clothes;

8086.  Watch out for carnival mirrors: Some retailers use mirrors that distort your appearance making you look longer and thinner.  If this sounds farfetched, think about fitting room lighting.  Most fitting rooms have dim lighting to make you look tanner and, thus, more defined.  It’s the same reason why dim lighting in the bedroom makes your partner look sexier;

8087.  To avoid these tricks, shop with a friend or step outside the fitting room into brighter light;

8088.  Always assume the store can price match: Price matching used to be a unique selling proposition for only a few select retailers.  Today, price matching is more common than not.  When in doubt, Google whether a store has price matching, but it’s fair to assume they do;

8089.  There are websites that offer updated lists of stores with price-match guarantees or you can use Amazon to find the lowest price.  Amazon automatically price matches all other .com retailers selling the same item.  So the price you see on Amazon is typically the lowest price for that item;

8090.  Use this “magic” question to secure a better price: “Under what circumstances could I secure a discount for this item?”  Why it works: It’s open-ended and can’t be dismissed with a “yes” or “no” answer and it’s a hypothetical which comes off less assuming;

8091.  Focus on working on your insides instead of focusing on your image;

8092.  Don’t be tempted to deplete your 401(k), IRA or other savings accounts to cover startup costs;

8093.  According to the Small Business Association, 30% of new businesses fail during the first two years of being open, 50% during the first five years and 66% during the first 10.  The SBA says that only 25% make it to 15 years or more;

8094.  Limit how much you pull from your savings to avoid losing your nest egg if your business folds.  It will depend on your circumstances, but a good rule of thumb is pull no more than 5% of your retirement assets.  Anything above 5% that you think you need should come from a business loan or line of credit;

8095.  What does success look like? . . . Surprisingly, a lot of people go into business ownership without any clearly defined goals.  Are you in it to make money?  Give back to your community?  Or some combination of other factors?

8096.  Decide your big picture goals.  Then break these goals down into benchmarks so you know what good and poor business performance looks like.  Having a clear picture of what success looks like will help you avoid keeping a dead business alive;

8096.  Write down your exit strategy.  Do this as early as you can.  The longer you wait, the harder it will be to come back to later on.  When you start your business, you should already know how it’s going to end.  Will you sell it?  Gift it to your kids or grandkids?

8097.  You need to have a defined exit strategy.  This can be part of your (total) business plan that you write before you invest any money.  The plan could mean selling once you hit a certain level of revenue or it could be closing down shop if you have a number of consecutive unprofitable months;

8098.  Flights between 21 and 121 days before departure seems to be the sweet spot.  If you book between 169-319 days ahead, you pay roughly $50.00 more and waiting until the last minute can sometimes cost you closer to $200.00 more than the lowest fare;

8099.  Plans are only good intentions unless they immediately degenerate into hard work;

8100.  Mutual fund managers fail to beat the stock market 75% of the time;

What I've learned since moving to D.C. (some of which should be obvious): 0161

8001.  Anxiety is an internal process and, when you take it outward, it changes the focus and lowers the intensity;

8002.  Not all roles are in all families;

8003.  Two members of the family will not have the same roles;

8004.  Roles will clash when families are blended together (i.e., when divorced parents marry);

8005.  Similar (family) roles will clash;

8006.  Everybody’s actions in your family creates your role;

8007.  You go to your (family) role in your interactions with your friends;

8008.  The only way to increase your self-worth is to do things that increase your self-esteem;

8009.  Apparently, I’m a “lost child” and a “computer;”

8010.  The “lost child” needs to learn to become assertive, ask for her/his needs and wants and learn social and intimacy skills;

8011.  The “computer” must learn effective listening and social skills to develop intimacy in her/his relationships with others.  Also, the “computer” needs to begin to identify and express her/his emotions and move from the head to the heart;

8012.  The 10% rule: For every bump in pay, bonus or unexpected money you receive, 10% of the money goes towards lifestyle creep and the other 90% goes towards building wealth;

8013.  Wealth without wellness is no good.  The heart wants what the heart wants so instead of depriving yourself of everything or at least trying to, you give in a little and feed your natural tendency toward lifestyle creep.  Because you’re saving and investing the other 90%, it’s a reasonable compromise that most high-earning household budgets can handle;

8014.  A life worth living is a life worth planning;

8015.  Watch your thoughts, they become your words; watch your words, they become your actions; watch your actions, they become your habits; watch your habits, they become your character; watch your character, it becomes your destiny;

8016.  Think better thoughts.  Say better words.  Take better action.  Form better habits;

8017.  (According to Ian Stanley,) the best day of the week for sales is Sunday;

8018.  The reasons why Sunday is the best day for sales: 1.  People have the most time to watch videos on Sundays.  This is the best day to send people to video sales letters.  It’s also the best day for Instagram stories and Facebook videos; and 2.  Sunday is full of shame.  People are ashamed of the bad foods they ate, how much money they spent and the fact they have to go to their job tomorrow.  Shame drives sales.  If you address the shame you can make even more money.  Simply sending an e-mail or story on a Sunday is naturally tapping into their shame because they’re feeling it whether you acknowledge it or not.  Shame can lead to anger.  People are mad at themselves because of the shame they’re feeling.  Anger is an actionable emotion.  Angry people hit things especially “buy” buttons.  Tap into people’s shame without shaming them and watch the sales roll in . . . . It’s a fine line;

8019.  Two (very) important criteria to look for when it comes to companies paying out the best dividends: 1.  A dividend yield of 2% or higher; and 2.  A low dividend payout ratio;

8020.  Top 5 beneficial foods for Type O blood: 1.  Seaweed; 2.  Red meat; 3.  Oily cold water fish; 4.  Spinach; and 5.  Kale;

8021.  Top 5 foods to avoid for Type O blood: 1.  Wheat; 2.  Corn; 3.  Kidney beans; 4.  Navy beans; and 5.  White potatoes;

8022.  Type O blood: A high-protein diet heavy on lean meat, poultry, fish and vegetables and light on grains, beans and dairy.  Because Type Os tend to display the “flight or fight” stress response causing chemical imbalances, caffeine (which raises adrenaline and noradrenaline levels that are already high) and alcohol should be eliminated.  Kelp, seafood, red meats, kale and spinach are all beneficial to those with Type O blood.  High intensity exercise like running is also advised.  People with O blood type may be predisposed to certain illnesses like ulcers and thyroid disorders and tend to have higher levels of stomach acid.  Type Os are able to easily digest proteins and fats;

8023.  Top 5 beneficial foods for Type A blood: 1.  Cultured soy products; 2.  Pineapple; 3.  Olive oil; 4.  Onions; and 5.  Broccoli;

8024.  Top 5 foods to avoid for Type A blood: 1.  Red meat; 2.  Milk; 3.  Lima beans; 4.  White potatoes; and 5.  Oranges;

8025.  Type A blood: Less meat with a diet focused more on fruits and vegetables, beans and legumes and whole grains, ideally, organic and fresh because people with Type A blood have a sensitive immune system.  People with Type A blood handle carbohydrates very well.  They have lower levels of hydrochloric acid in the stomach and an ability to efficiently digest carbohydrates.  It can be harder to digest and metabolize animal protein and fat.  Type As tend to have naturally high levels of stress and flourish on a vegetarian diet due to toxin elimination causing higher energy levels as a result.  Consuming foods that are fresh and organic paired with calming exercises such as yoga or tai chi are great for those who have Type A blood;

8026.  Top 5 beneficial foods for Type B blood: 1.  Red meat; 2.  Broccoli; 3.  Cultured dairy products; 4.  Onions; and 5.  Pineapple;

8027.  Top 5 foods to avoid for Type B blood: 1.  Chicken; 2.  Corn; 3.  Peanuts; 4.  Lentils; and 5.  Buckwheat;

8028.  Type B blood: Avoid corn, wheat, buckwheat, lentils, tomatoes, peanuts and sesame seeds.  Chicken is also problematic.  Eating green vegetables, eggs, certain meats and low-fat dairy is recommended.  Those with blood Type B will thrive as a “balanced omnivore” eating meat, low-fat dairy, grains, legumes, fruits and vegetables.  With a lot of food flexibility, it is advised to avoid chicken replacing it with meats like lamb and venison.  Moderate exercise with a mental component like hiking or cycling are also recommended.  Those with Type B blood tend to produce higher than normal cortisol levels when it comes to stress, have a sensitivity to B-specific lectins in certain foods that can lead to inflammation and are susceptible to “slow growing lingering viruses” and autoimmune diseases.  Corn, wheat, buckwheat, lentils, tomatoes, peanuts and sesame seeds can cause weight gain for those with Type B blood.  These foods affect the metabolic process which can lead to fluid retention, fatigue and hypoglycemia;

8029.  Top 5 beneficial foods for Type AB blood: 1.  Tofu; 2.  Cultured dairy products; 3.  Broccoli; 4.  Walnuts; and 5.  Cauliflower;

8030.  Top 5 foods to avoid for Type AB blood: 1.  Chicken; 2.  Corn; 3.  Buckwheat; 4.  Lima beans; and 5.  Kidney beans;

8031.  Type AB blood: People with Type AB blood tend to have low stomach acid so small, frequent meals help with digestive problems.  Avoid smoked or cured meats, caffeine and alcohol, especially when under stress.  Having Type AB blood is so rare it’s found in less than 5 percent of the population.  Type AB is co-dominant and faces both the benefits and challenges of Type A and Type B.  A mixed diet works best for those who are Type AB.  Foods to focus on include tofu, seafood, dairy, vegetables (especially green), lamb, grains and fruits.  A combination of calming and moderate exercise is great for those who are Type AB;

8032.  If your bank isn’t convenient, it doesn’t matter how much interest you’re earning, you’re not going to use it;

8033.  Since a bank is the first line of defense in managing your money, it needs to be easy to put money in, get money out and transfer money around.  This means its website has to work and you need to be able to get help when you need it whether by e-mail or by phone;

8034.  Your bank’s interest rate should be competitive.  Transferring money around should be easy and free (because you’ll be doing it a lot) and you should have free bill paying.  Their app or website should be something you enjoy using;

8035.  I can say (that) I’ve eaten at a Michelin-starred restaurant (specifically Bresca in D.C.);

8036.  Elizabeth likes moo shu pork;

8037.  Dream big.  Start small.  But most of all, start;

8038.  I can say (that) I drank and ate where George Washington (as well as John Adams, Thomas Jefferson, James Madison, James Monroe and the Marquis de Lafayette) used to;

8039.  Practice without attachment to outcome is how you end up with an outcome far more amazing than you could’ve expected;

 8040.  It’s really easy to cook a frozen, Great Value, 75% lean/15% fat (beef) burger on a George Foreman (G5) grill.  Just set the grill to medium, allow it to warm up and cook the burgers for three-and-a-half minutes;

 8041.  In an H.S.A., you can use the money for any qualified medical expense anytime, tax-free.  And after the age of 65, you can spend money on anything (including a random trip to Santorini);

8042.  Things to be aware of in an H.S.A.: 1.  If you withdraw funds for non-qualified medical expenses before you’re 65, you’ll be charged a penalty; and 2.  If you use your H.S.A. funds for non-qualified medical expenses after age 65, it’s taxable;

8043.  A good rule of thumb for opening an H.S.A. for investment: They should offer low-cost funds ideally a target date fund or a “total stock market” fund;

8044.  The mindset of conscious spenders is the key to being rich;

8045.  Conscious spending is not about simply cutting your spending on various things.  It’s about making your own decisions about what’s important enough to spend a lot on and what’s not rather than blindly spending on everything;

8046.  People who spend money to buy themselves time such as outsourcing disliked tasks reported greater overall life satisfaction;

8047.  You place a higher premium on the things you pay for out-of-pocket than the things via subscription;

8048.  In 2012, the average wedding cost $27,427.00 and the median was $18,086.00;

8049.  A good rule of thumb is to use 20% to 35% of your take-home income for guilt-free spending;

8050.  Use the “Envelope System” to target your big wins.  Allocate money for certain categories like eating out, shopping, rent and so on.  Once you spend the money for that month, that’s it; you can’t spend more;