One Caveman's Financial Journey

Thank You For Joining Me On My Journey

That One Caveman — Wed, 03 Jun 2009 12:55:44 +0000

When I started writing this blog a year and half ago, I was in a much different place from today: My oldest daughter had just turned one year old, I just finished Rich Dad, Poor Dad (which I wholeheartedly DO NOT recommend as a personal finance learning resource), and I discovered the Personal Finance blogosphere. I was dissatisfied with my job and I wanted to pursue other potential careers. So I started writing.

Over the last 18 months, I’ve written about various subjects, from “Adventures in Frugality” to vermicomposting, and my wife was kind enough to chime in a few times along the way. But as I said before, things are much different today.

I’m now the happy father of two beautiful daughters, my finances are in better shape than they have been in the past, and I’m busy searching for my next job. I tried keeping a 5-a-week writing schedule, but I found myself getting burned out often and increasingly unhappy with the quality of my writing. And, on top of that, the hours I spent preparing articles could be spent on more profitable adventures as well as increased family time. So I’ve decided to change things.

My journey is far from over, but the path has changed a bit. I’m not going to abandon this blog, nor will I abandon the friends I’ve made over these past months - I’m just going to write when I have something worth saying and not stick to some arbitrary schedule. Some of my best work are articles I wrote over the course of a few weeks - tweaking, editing, and rewriting until I had a solid product.

I hope that you’ll stick around now that the game has changed, but I understand if you’d rather read new content every day. If you need something consistent to read, please stroll through my blogroll and read what some of my friends have to say. And if you do choose to stay with me, thank you. I hope that with this change I’ll be able to provide you with a better product.

Thank you for helping me arrive where I am today and I look forward to sharing this new leg of my journey with you!

Photo by: npslibrarian

Start Searching For Your Next Job Before You Need It

That One Caveman — Wed, 27 May 2009 14:53:44 +0000

Whether or not your job is secure, it helps to always be on the hunt for something better. You never know when your current job may be pulled out like a rug from under you, so having other work in the pipeline is like having employment insurance.

If you’re needing a job or just want to go back on the hunt, here’s what you’ll need to do:

Build Your Résumé

Building a résumé is a personal experience. Your résumé needs to stand out, but not be so garish to go immediately to the round file. The best résumé I’ve seen is an elegant, minimalist document that gets right to the point and doesn’t try to “wow” with fancy styling.

Making your résumé inviting and easy-to-read should be your first goal. Don’t try to pack it with overly broad claims. Instead, use simple, direct phrases that get right to the point. Keep your sentences short and remove the fluff.

Most resources suggest drafting your résumé as a Word document. Many HR departments and online job markets have tools that can convert your Word document into a search-able text file, but it can only do so much on its own. By avoiding the temptation to heavily style your résumé, you make it easier for these programs to parse your resume and ultimately make it easier for potential employers to find you.

Once you’ve finished your résumé, post it on all the major job search engines: Monster.com, Beyond.com, CareerBuilder.com, Dice.com, and more.

Here are some resources to help you build your résumé:

Build Your Network

Your “network” is one of your most powerful tools in your job search. The people that you know through various organizations are often your best resource when finding a job or getting recommendations. After losing my first job out of college, I turned to a few professionals I knew through church to help find a new job.

Keep your ears open when you’re with your friends and associates to hear if there’s anything going on that you want to be a part of.

LinkedIn - A professional networking site designed specifically for connecting you with previous (and future) colleagues. By building a strong profile on LinkedIn, you make yourself more available to those who may be searching for you.
Facebook - Many stories have been told about people who ruin their reputations and careers by posting things on Facebook that get back to them. But it’s also a powerful tool to connect to friends and former fellow students and find a job through them.
Twitter - It’s an unconventional means to find a job, but it’s happening more often with the site’s growing popularity. You can search for people who are talking about companies you want to join and introduce yourself.

Get Your Name Out There

If you want a job, you need to let people know you’re searching. Tell everyone who cares that your’e searching and ask that they keep their ears open as well and ask for positive recommendations.

Passively searching in this economy isn’t likely to net you the job of your dreams. You’re going to have to go out and get it yourself. Keep up an active search and you’ll likely find what you’re looking for.

Good luck!

Photo by: star5112

Friday Link Love - Busy Week Edition

That One Caveman — Fri, 22 May 2009 20:24:13 +0000

I’ve had a terribly busy week with work and haven’t even had time to write much, let alone read. This week, I’ll just have to highlight the carnivals I was featured in. With any luck, I’ll still have a job this time next week and I can slow down the pace a bit!

Prime Time Money hosted the Carnival of Money Stories this week, which featured my article Don’t Fall For the Convention Center “Liquidation Sale” Scam.
Wise Bread hosted the Carnival of Personal Finance #205, which included a reader favorite, Save Money By Buying the “Good” Toilet Paper.

Have a great holiday weekend and see you next week! Off to go work on my resume apply for some jobs…

(c) 2007-2009, That One Caveman, http://www.thatonecaveman.com

How to Commute to Work by Bike

That One Caveman — Wed, 20 May 2009 15:35:23 +0000

For the last year, I’ve concentrated on riding my bike to work when the weather is nice. Gas may not be as expensive as it was when I first bought the bike, but biking to work still saves me money and I learned I enjoy riding my bike and the great exercise. I realize that my 1 1/2-mile commute is somewhat unusual when the nation’s average commute is around 30 miles, but I’m sure there are many people with commutes that are acceptable for bicycles.

If you want to try riding to work, here’s what you’re going to need.

Equipment

Bike - Obviously if you’re going to bike to work, you need a bike. Just about any bike will do, but it will make the ride easier if you have a road or hybrid bike - a mountain bike will have a much heftier frame. The heavier the bike, the more weight you have to pedal down the road. Ensure that the brakes are in good condition, the tires are aired up and holding their pressure, and the chains and gears are properly greased. If you’re not sure how to maintain your bike, take it to a bike shop before your first ride.
Lock - I prefer a thick, sturdy cable lock to secure my bike. A lock isn’t going to deter someone dead-set on stealing your bike, but a properly-installed cable lock can prevent “casual” theft of your bike’s equipment. Many bikes today have a “quick release” for the tires to allow for easy tire changes. These quick release levers also allow for easy stealing of tires. Threading the cable lock through your tires and frame and then around a permanently-installed bike rack will help protect your investment.
Helmet - A helmet isn’t just a suggestion, it’s a necessity. I hate “helmet hair” as much as the next person, but that minor inconvenience is nothing compared to injury or death from a biking accident. A helmet won’t save you from all harm, but it could make the difference between seeing your family again and being a young organ donor.
Clothes - Don’t ride to work in your work clothes unless your office is extremely casual. You want to be cool and comfortable during your commute and you don’t want to ruin your work clothes with sweat or mud splashes. You don’t need to spend for a fancy biking outfit - shorts and a t-shirt should be sufficient. Take your work clothes with you (or even better - have clothes at work waiting for you) and change when you get to the office.
Shoes - Good shoes are important for safe biking. Many dressier shoes have a slick sole that won’t grip your pedals and could cause you to get into an accident. Tennis shoes are a much better alternative and your feet will be more comfortable on your commute. Like your clothes, either take your work shoes with you or leave a pair at the office.
Backpack - I purchased a decent backpack for $10 before I started riding to work so I could carry my lunch and clothes with me. If I ever have to take work home or bring supplies to the office, I just put it all in the backpack. Be sure not to overload your backpack since that weight could throw off your center of balance and every pound in your bag is another pound slowing you down.
Saddlebags - Saddlebags are great for the work commuter. Instead of carrying a heavy backpack, you can split the weight into two bags hanging beside your back wheel. They’re a little more expensive than a backpack, but they make riding easier since the weight is lower and not pulling on your shoulders.

Your Route

Before you make your first ride, you need to plan your route for the places you can legally and safely ride your bike. Not all towns are bicycle-friendly, so you’ll have to know your local laws and regulations about where you’re allowed to ride. Many places prohibit biking on sidewalks and biking on many highways and interstates is illegal (not to mention dangerous).

My commute

To map out my ride, I installed Google Earth and zoomed in to my town. As I examined the route I drove from home to work, I noticed a few low-volume side roads and subdivisions I could cut through that wouldn’t add much time or distance to my commute, but would provide a safer ride than taking the main thoroughfares. Using the path tool in Google Earth, I was able to map out and measure the distance of my commute and I used it to prove to my wife that it would be safe enough for me to ride.

Get Pedaling!

Biking is great exercise and it saves you from the wasting your gas money stuck in the rush hour traffic jams. Just be safe and smart about it and it’ll pay off for you in the long run!

Photo by: Amsterdamize

How To Bust Your Budget In Two Weeks

That One Caveman — Mon, 18 May 2009 17:58:11 +0000

For the month of May, I decided to join the 30-Day Budget Dare and put a strict budget in place to see if we could follow it. We gathered some data from the past few months and estimated what our costs might be for this month. After an hour of playing with the numbers to make sure it all balanced, our budget was finally built.

Fast forward two weeks (and change) to today and it’s already clear that we messed up. Today is the 18th and we’ve already exceeded our budget in two categories: Groceries and household expenses.

There’s two easy ways to break your budget: Little unplanned purchases and poor estimation. One, you can control within the month, and the other you have less control over.

For example, our household expense column looks like this: $10.50, $2.94, $24.03, $10.86, $6.53, $10.54. Little purchases here and there have pushed us 30% over budget in just half of a month. Most of these things we didn’t need to spend money on right away and when we purchased it, we didn’t believe it would hurt our budget. Because we were careless with the spending, we’ve met our first failure.

For groceries, we simply failed to properly plan for this month’s expenses. Before setting the grocery budget, we should have examined the pantry and freezer. When we estimated our expense for this month, we took the last four months into consideration. Unfortunately, the number was low because we pulled heavily from our freezer and pantry and neglected to restock. We budgeted $200 based on the first part of this year, but we’ve already spent $240 and have at least one more grocery trip before the end of the month.

I’m not surprised that we already “achieved” our first failure so short into the experiment, but I’m not disappointed. Building a budget is a learning experience and one that you perfect over many months. We will take what we learned from this month and apply it in the coming months. We will be more careful with our spending and build more “wiggle room” into our spending categories in the future.

Photo by: householdriot

Friday Link Love - Loving Spring Edition

That One Caveman — Fri, 15 May 2009 16:11:28 +0000

This past winter was rough and long. Now I’m sitting here in my basement office with the windows wide open and loving the fact that it’s a beautiful Spring.

While I sit here watching the robins play in the yard, take some time to browse these great reads from this week.

Carnivals

This week, I participated in two carnivals. Please take your time and browse each of them because there are some fantastic stories in there.

Earn What You Spend hosted the Carnival of Personal Finance #204, which included my article 8 Things New Parents Don’t Need.
Gather Little by Little helped resurrect the Carnival of Money Stories this week, which included We Won Our Property Tax Appeal!.

Thanks to the carnival hosts for including me in your roundups!

Links You’ll Love

Moolanomy: How To Save Money - The 1,001 List Of Money Saving Tips And Ideas - One of the biggest lists I’ve ever seen of money-saving tips. I was included a few times, but the list also helped me discover new sites and some great new tips. Definitely a must-read.

Mrs. Micah: Finance for a Freelance Life: Living Like a (Grad) Student - A good story on how to live appropriately as a student. Student loans are for paying for tuition, not funding an extravagant lifestyle.

Debt Free Adventure: Financial Philosophy & Sacrifice to Create Wealth & Live Off Your Interest - Sacrificing now to benefit later is one of the core pieces of advice in personal finance, but also the hardest to follow. Becoming debt-free should be your goal, not merely saving money to buy bigger and “better” stuff later.

MoneyEnergy: If You Want To Feel Rich, Count the Things You Have That Money Can’t Buy - The best things in life aren’t free - they’re the things that can’t be bought to begin with! Keep your focus on the things that really matter and you will not only feel rich, you’ll be rich.

Steadfast Finances: 20 Frugal Tips from Someone Who Lived Through the Great Depression - A great list from someone who’s “been there.” My favorite: Family time is fun time. We love our family game nights!

Man Vs. Debt: Why Australia?: Financial Implications Of Our Move Overseas - I wish I had half the courage Baker’s showing by pulling up the stakes and moving overseas. “Nothing” waiting for him down under (outside of pure, unbridled destiny), yet he’s eager to let what happens happen. Good luck and Godspeed, Baker!

Tough Money Love: For Some Jobs, this May be as Good as it Gets - For some people, their job doesn’t have a glass ceiling - they have drywall. It will take drastic action to break through, but you’re more likely to succeed by moving around it.

Photo by: Bobcatnorth

Don’t Fall For the Convention Center “Liquidation Sale” Scam

That One Caveman — Thu, 14 May 2009 16:59:58 +0000

Nearly six years ago, after seeing TV ads running for days, I convinced my wife to go with me to a “huge blowout liquidation sale” of some unnamed computer corporation that was being held at a local convention center. “Monitors for $20! Printers for $15! Laptops for $50!” the ad screamed. The “tech lust” center of my brain almost short-circuited from the sheer magnitude of the offer. I was younger, naive, and flush with cash and I needed whatever computer junk they were hawking.

We drove to the convention center, walked up and was greeted by ticket taker who demanded $6 per person just to walk in and see what was being offered. We were not allowed to see or know what was behind the doors without first paying this non-refundable fee. Right here we should have turned around and walked away, but I was still captive to the spell wound by the advertisement. I reluctantly paid the toll and walked in.

I was amazed at the number of booths set up. They were selling everything one could imagine: Car stereos, speakers, computer equipment and software, massages, time-share property, and even knock-off sunglasses. Whatever group was running this weekend sale obviously opened their doors to every shyster and snake oil salesman who was willing to pay the booth fee. But still I couldn’t see through the scam.

Since I came to the center specifically for computer equipment, I focused my energy on scouring those booths for great deals. Everywhere I looked, I saw no-brand items, refurbished equipment, and unlicensed and pirated software. The only thought going through my head was, “I paid $12 of my hard-earned dollars to get in this place. I’m walking out with something.” And that’s exactly what they intended for me to think. I was suffering from the sunk cost fallacy: I had already paid in and, in my mind, that money would be wasted if I left empty-handed.

Eventually, we came upon a man selling laptops that the Army had retired. Mind you, these were less laptops and more huge paperweights that barely functioned with a 4-year-old unlicensed copy of Windows 98. Of all the shady characters, he seemed to be the cleanest. He was asking and outrageous price of $600 for this piece of junk, but he “reluctantly” accepted $400 in exchange for that gray behemoth and a “complimentary” laptop bag.

I could feel pure regret coursing through my body as I signed my name on that check, but I was no longer in control of myself. The scammers had taken me in completely and there was little I could do to fight back. After completing the transaction, my wife quickly escorted me out of the convention center to avoid losing any more money to the scam. And for the next few months, we did the smart thing and closely watched our checking account to make sure that regret-strained check didn’t balloon into a much bigger problem.

I recently saw ads running for this scheme again. With the poor economy, they’ve changed their tactic to a “going-out-of-business liquidation” pitch to entice people and make them believe they can get good deals.

Please, learn from my very expensive mistake and steer clear of this and related convention center sale scams. Whatever claims they make in their ad, do not believe them. Whatever they’re selling isn’t worth the price and might very well be a stolen or pirated product which would leave you liable if it was caught in your possession. Save your money and purchase from a reputable dealer that will stand behind their product and not some faceless group that’s only in town for three days. You’ll thank yourself later.

Photo by: Potjie

Good Personal Finance Takes Practice

That One Caveman — Wed, 13 May 2009 13:30:07 +0000

With the official start of softball season only three weeks away, we’re fighting the crazy May rains to get even one practice in every week. As usual, our team is almost brand new with only a few players returning from last season. We’ve never worked together and it shows when we take the field.

There are men of all ages and skills on our team. Some are old pros that have been at this for ages and others are “kids” home from college playing men’s slow-pitch softball for the very first time. But all of us, regardless of skill and experience, need the practice. Individually, the practice helps us learn our position better and hone our skills; as a team, practice teaches us to communicate to execute plays with greater success.

I’ve played baseball for as long as I can remember and have enjoyed playing softball for the last six years and still I continue to learn and improve through practice. Even Albert Pujols - arguably the best player in baseball today, if not ever - still practices to hone his craft. If a pro still learns and improves through daily practice, it only makes sense that we would as well.

Just like softball, personal finance takes practice, too. You’re not born knowing how to manage your money and you can’t just learn the skills you need to prepare for your financial future overnight. It takes time, effort, and the occasional failure every now and then.

I’ve been interested in money and how I spend it since I first started earning an allowance. Even with occasional lapses in fiscal and frugal judgment, I’ve always strived to make the most of every dollar that passes through my possession. But I’m still practicing; in fact, everything I do is practice.

That’s why I write: I choose to practice in public. You get to see my successes and failures and I hope you can use them as an example for your own personal finance practice. I can only hope that my experiences can benefit you in some way - that’s what is important for me in sharing my “journey”.

Money management is a learned skill. Without discipline, we would spend recklessly and with abandon and there would never be enough left for our present, let alone our future. But through practice, we learn how to temper our spend-lust and how to craft the financial future we want for ourselves.

Even if you consider yourself a “pro” in personal finance, never stop practicing. These are skills that can constantly be honed and shaped and you will never run out of places to improve yourself.

Photo by: Valerie Everett

How To Keep Your Job In a Down Economy

That One Caveman — Tue, 12 May 2009 17:18:04 +0000

In rough economic times, keeping your job should be one of your top priorities. Unemployment is rising and there is increasing competition for what few open positions remain - the last thing you want is to be a part of that group of job seekers.

If your employment is at risk (and even if it’s not), here are some ideas that might help you keep your job (and maybe even improve your job status).

Be the Best

It goes without saying that the best-qualified people are more likely to keep their jobs. They’re not immune from the risks of the down market, but their value to the company will put them in the later group of “at-risk” employees.

But not only do you have to be the best, your employer needs to know that you’re the best. Self-marketing of your abilities and skills is a delicate art but the people in charge of hire-or-fire decisions may not know you if they’ve never met you. It’s the best way to keep your job and maybe even get a promotion while you’re at it.

Make Yourself More Valuable

Even if you are “The Best”, there will always be people aiming to take that title away from you. Everyone who wants to succeed in any job market should always be concerned with self-improvement. Take a few classes, get a certification, or even get a degree. Your employer might even pay for your education so you’ll make yourself more valuable to them for little-to-no money out of your own pocket.

Stay Under the Radar

If things aren’t going well, the last thing you want to do is be noticed under any bad light. Of course, you should keep doing your job as you’re supposed to, but definitely don’t stick your neck out unless it’s protected. Make sure your successes are known and your failures are not too heavily noticed.

Offer To Take a Pay Cut

If you know your employer is hurting for cash, you can make a huge impact on your boss by offering to take a temporary pay cut. Having a job that pays a little less is far better than having no job. And if your boss accepts your offer, you will have ingratiated yourself to the company. It’s a risky move, but if you’re desperate enough to have to offer, it’s probably worth it.

Always Be Searching

You never want to be caught by surprise by a lay-off, so you should always be searching for new jobs. I’ve been at my current job for over five years, but I stay active on Monster.com and other job hunting sites. You never know when a better opportunity might come your way. Whether or not you feel like you need to make a switch, the connections you make through searching for a job can help when the day comes where you actually need one.

Hang Your Own Shingle

The best defense to the risk of job loss is to create your own work. Freelancing is a great way to make a side income, get yourself noticed by potential employers, or even become a career of its own. Starting your own company is easy and is an important tool to protect yourself professionally and legally. Whether you choose to freelance on the side or make it your full-time job, check out FreelanceSwitch for ideas that can help you as a freelancer and even as an employee.

Photo by: pixelpony

Save Money By Buying the “Good” Toilet Paper

That One Caveman — Mon, 11 May 2009 14:26:53 +0000

It feels a little funny writing about toilet paper, but I’ve discovered something that I just have to share: You can actually save money by switching from store-brand toilet paper to a quality name brand - even without coupons.

For months, we used the Target brand toilet paper because it was cheaper. After some quick calculations, it was about $0.076 cheaper per 100 sheets or about $5.47 cheaper than a package of Charmin Ultra Strong that would have the same number of sheets.

Brand	Price	Rolls	Sheets	Per sheet
Charmin Ultra Strong	$12.24	24	200	$0.00255
Target	$12.89	24	300	$0.00179

But after being frustrated by torn sheets while wiping and paper particles “left behind”, I decided to give the better paper a chance.

Immediately I noticed that I needed less paper per bathroom visit. Where I used to take 4 sheets at a time, I only needed 2 sheets with the Charmin Ultra Strong. That drove me to run a few calculations on the actual cost of toilet paper:

Brand	Per sheet	Sheets per use	Price per use
Charmin	$0.00255	2	$0.0051
Target	$0.00179	4	$0.00716

While I originally purchased the store brand to save money, it actually did the opposite. The Charmin was more per sheet, but by using half as many sheets at each use, I actually saved $0.002 over the Target brand each time I pulled from the roll.

Calculating unit cost is a great way to determine your savings, but it doesn’t always tell you the full story. While I thought I was saving, I was actually wiping away my hard-earned cash. It’s a little hard to do up-front, but make sure to calculate your actual cost-per-use to find where the real savings lie.

Photo by: TheGiantVermin

One Caveman's Financial Journey

Thank You For Joining Me On My Journey

Other articles you might enjoy reading

Start Searching For Your Next Job Before You Need It

Build Your Résumé

Build Your Network

Get Your Name Out There

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Friday Link Love - Busy Week Edition

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How to Commute to Work by Bike

Equipment

Your Route

Get Pedaling!

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How To Bust Your Budget In Two Weeks

Other articles you might enjoy reading

Friday Link Love - Loving Spring Edition

Carnivals

Links You’ll Love

Other articles you might enjoy reading

Don’t Fall For the Convention Center “Liquidation Sale” Scam

Other articles you might enjoy reading

Good Personal Finance Takes Practice

Other articles you might enjoy reading

How To Keep Your Job In a Down Economy

Be the Best

Make Yourself More Valuable

Stay Under the Radar

Offer To Take a Pay Cut

Always Be Searching

Hang Your Own Shingle

Other articles you might enjoy reading

Save Money By Buying the “Good” Toilet Paper

Other articles you might enjoy reading