Guest Post: There Are 4 Types Of Expenses, But Only 1 You Need To Cut

There Are 4 Types Of Expenses, But Only 1 You Need To Cut

Managing expenses is nearly a full-time – though unpaid – job for many people. From the monthly mortgage, car payment, insurance, groceries and utility bills to family activities, there’s a long list that requires prioritizing and discipline.

The situation can leave people feeling like they will never get ahead as their expenses seem to eat most of the financial pie chart.

But it’s a fallacy to think all expenses are evil, says a successful entrepreneur and angel investor. In fact, he says, nearly all of them are necessary, and if managed correctly, they can even help you win financial freedom.

“It’s critical to understand the difference between debt and liability,” says Nik Halik, also an adventurer, speaker and co-author of 5 Day Weekend: Freedom To Make Your Life And Work Rich With Purpose. “The goal isn’t to simply pay off all loans, but to maximize the efficiency and production of cash flow.

“We’re taught to believe that expenses are bad and to cut them as much as possible, but that perspective is simplistic and misguided. In reality, there are four types of expenses, and only one of them needs to be cut.”

  •  Lifestyle (consumptive) expenses. These include dining out, vacations, concerts – fun expenses that help you build memories. “If you never spend any money, you won’t be fulfilled,” Halik says. “To pay for these expenses, never borrow and always use cash. Lifestyle expenses should be managed wisely.”
  •    Protective expenses. These are the expenses that protect your property, your life and your health. “This is the financial area that often gets overlooked – especially by the middle class,” Halik says. “Affluent people don’t compromise with their protection.”  One example of a protective expense is your liquid savings, which Halik says should be enough to cover a minimum of six months’ expenses. Other protective expenses include life insurance, medical insurance and auto insurance.
  •    Productive expenses. Essentially these expenses symbolize the adage, “Spend money to make money.” Productive expenses, Halik says, “allow you to build assets, expand your cash flow, and grow your business. This could include purchasing rental property or hiring a great employee. These are expenses that are going to enhance your life now and in the future.”

 

  •    Destructive expenses. Halik saves the worst expense category for last. These are the only expenses, he says, that should be eliminated. “They include consumer debt, vices, overdraft fees, the gym membership you don’t use – anything that subtracts value from your life instead of adding it,” he says.

“When you understand the difference between true debt and mere liabilities, you begin to see that in many instances the way to become wealthier is to increase, not decrease, your liabilities,” Halik says. “A liability can come with an asset that can make you more money than it costs. Your goal isn’t simply to get out of debt, but to achieve financial independence.”

About Nik Halik

Nik Halik is an entrepreneur, world-wide adventurer, angel investor, speaker and the co-author, with Garrett B. Gunderson, of 5 Day Weekend: Freedom To Make Your Life And Work Rich With Purpose. Nik has dived to the wreck of the Titanic, climbed some of the world’s highest peaks, and is a certified Russian cosmonaut. He has traveled to 149 countries and recently visited North Korea.

For more information, please visit 5 Day Weekend.

Notice: This post contains affiliate links. If you click a link and make a purchase, we may financially benefit from your transaction, at no additional cost to you. Thank you for your support.

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Press Release: Houston’s Commitment to Disaster Relief Shines in Third Round of Grant Applications Opening to Artists and Nonprofits

Houston’s Commitment to Disaster Relief Shines in Third Round of Grant Applications Opening to Artists and Nonprofits

(HARF Grant Recipient Brian Ellison at Project Row Houses)

Houston, TX, April 26, 2018-  In the artistic communities hit hardest by Harvey, relief can be as simple as a new theater wardrobe and as critical as replacing revenue lost from cancelled performances. Recent months have seen Houston rallying around the vulnerable arts professions to restore what was lost irreparably to the hurricane. The Harvey Arts Recovery Fund (HARF) has launched a third and final round of grants to keep artists and arts and culture organizations on their feet, an intervention essential to preserving the place of creative expression in Houston’s vibrant social fabric.

The application for the third round of grant will be open from April 19 to May 11, 2018 and awards will be distributed in late May. The application can be found at www.harveyartsrecovery.org.

HARF supports Houston artists, performers, musicians, writers, and arts and culture organizations in need of disaster assistance. Applicants to the second round of HARF funding reported staggering need, with 92% reporting losses for opportunities to teach, perform or show their work and 68% confirming a loss of necessary tools or equipment to make their art. Since launching in the fall of last year, HARF has awarded more than $84,000 to local artists and arts, heritage and cultural organizations who suffered personal and professional losses due to Hurricane Harvey.

“The support of just knowing that there is a group out there that believes in the arts in Houston and that wants to see us all get back on our feet, that means a lot in a lot of other ways and we are thankful for that,” said Shannon Emerick, Director of Marketing and Communications at Main Street Theater and 2018 Grant Organization Recipient.

Individuals and nonprofit institutional applicants that are 18 years and older must be able to demonstrate, through appropriate documentation, their cultural or artistic practice and how they pursue this creative mission professionally. They must also prove that their artistic practice was negatively impacted by Hurricane and Tropical Storm Harvey. So long as both the need and the reasoning behind the need are clearly present, HARF will not restrict the use of funds to any purpose or category. Those who received funding in the first or second rounds of grants are not eligible to apply this  time.

HARF was created as a volunteer collaboration among multiple organizations to meet the substantial needs of the Houston arts and cultural sector during Hurricane Harvey. Funds were raised with the support of local nonprofits, donations through the online advocacy platform www.harveyartsrecovery.org and seed money provided by the Houston Endowment. Creatives within a 10-county region of Harris, Fort Bend, Montgomery, Brazoria, Galveston, Liberty, Waller, Chambers, Austin and San Jacinto have been able to apply for funding since the fall of last year.

Members of the Local Action Group manage the Fund with leadership provided by Galveston Historical Foundation, Fresh Arts, Dance Source Houston, CultureWorks Greater Houston, The Center for Arts and Social Engagement at the University of Houston, Houston Arts Alliance and the Mayor’s Office of Cultural Affairs for the City of Houston.

Recovery for the Houston arts and cultural community is an ongoing process. To help individual artists and small to medium-sized arts, culture and heritage organizations, please donate to Harvey Arts Recovery Fund at harveyartsrecovery.org.

Friendly Fill-Ins

This is a fun meme co-hosted by 15 and Meowing and McGuffy’s Reader. Be sure to visit and join in the fun!

Friday_Fill-In_BadgeHere are the fill-ins:

1. I could really use _______________________________.
2. ______________ is a charity that I like to support.
3. One time, I broke ___________, and _______________.
4. I wish that I had __________, when I was young(er).

Here are my responses:

I really could use a good helping of II Timothy 1:7 right now. I have an appointment coming up on Tuesday that has me feeling very vulnerable.

Blessed Arrows is a charity that I would like to support and have done so in the past. It was a sterilization reversal ministry for those who wished to get a tubal or vasectomy reversal. I have just discovered that it is no longer in operation.

One time, I broke my tailbone, and it still hurts like mad. It is actually hurting worse as time goes by instead of getting better, which is rather frustrating.

I wish that I had listened more intently to my grandparents’ stories and recorded them in some fashion when I was young.

Our daughter Maggie has a new blog for her furbaby Martha. You can find it at: Martha’s Daily Mews

Have a blessed weekend, y’all!

Book Review: Cooking with Kip: A Cook’s Memoir by Kip Meyerhoff

Cooking with Kip: A Cook’s Memoir by Kip Meyerhoff

This truly is a different way to present a cookbook. Cooking with Kip: A Cook’s Memoir by Kip Meyerhoff is the life story of a great chef who learned the cooking basics from his father, then studied under several other chefs.

We follow Kip from a little boy through the military and a career as a police officer. Kip tells his readers about meeting several celebrities and much more.

The recipes are great and easy-to-follow. The stories are very entertaining. We think Cooking with Kip: A Cook’s Memoir by Kip Meyerhoff makes a great story and is an excellent cookbook, too.

We give Cooking with Kip: A Cook’s Memoir all five stars and a pound of bacon.

We were sent a complimentary copy of this book. We are under no obligation to write any review, positive or negative.

We are disclosing this in accordance with the Federal Trade Commission’s 16 CFR, Part 255.

Notice: This post may contain affiliate links. If you click a link and make a purchase, we may financially benefit from your transaction, at no additional cost to you. Thank you for your support.

Book Review: Deadwood and Beyond by Kip Meyerhoff

Deadwood and Beyond by Kip Meyerhoff

Kip Meyerhoff proves that one can write a good mystery book without having to have graphic sex scenes every chapter and without having to have profanity.

Deadwood and Beyond is a great detective story about a private investigator and multiple investigations. The question is, how do all these investigations tie into one another? One simply has to read the book to find this out.

There are all sorts of mysteries in this book. It isn’t your typical “figured it out in the first chapter” kind of book.

Deadwood and Beyond is very well-written and very entertaining. We give it all five stars and a pot of coffee to boot. If you are tired of reading the drivel that normally makes up a mystery novel, you will be pleasantly surprised with this book.

We were sent a complimentary copy of this book. We are under no obligation to write any review, positive or negative.

We are disclosing this in accordance with the Federal Trade Commission’s 16 CFR, Part 255.

Notice: This post contains affiliate links. If you click a link and make a purchase, we may financially benefit from your transaction, at no additional cost to you. Thank you for your support.

Book Review: How To Be A GREAT Salesperson…By Monday Morning!: If You Want to Increase Your Sales Read This Book. It is That Simple by David R Cook

How To Be A GREAT Salesperson…By Monday Morning!: If You Want to Increase Your Sales Read This Book. It is That Simple by David R Cook

We have read countless books on selling. Some of these books were by salespeople recognized the world over as the top salesperson in their field. We have never heard of David R. Cook, until now.

In How To Be A GREAT Salesperson…By Monday Morning! Cook provides several of the key ingredients to becoming a top salesperson. The book is easy to read and a very fast read.

We are concerned that it does not contain “The Secret Sauce” of selling. Obviously, Cook knows what he is doing. According to Cook, he has been the number one salesperson in every sales organization he has been in.

There are two things that a salesperson must do in order to have more sales. The first one, Mr. Cook alludes to when he says practice, practice, practice. That key ingredient is get out and see the people.

We have been privileged to observe three of the most successful salespeople in their particular organizations and the one thing that all of them do, and we are sure Mr. Cook does as well, is build rapport.

The three greatest salespeople we have seen, one from NCR, one from the U.S. Chamber of Commerce, and the third from a Fortune 500 company that is in the death industry, is that they never mentioned their product or that they were selling until the potential customer did.

Up to that point, the salesperson was talking about the customer and HIS business or HIS family. Never once was the product even mentioned. We are sure if Mr. Cook analyzed his selling style, he would see that he spends most of his time talking about everything but the product.

We give How To Be A GREAT Salesperson…By Monday Morning! all five stars. We think it is very well-written and would be an excellent tool in any salesperson’s toolbox. Grab two copies today. One copy to keep at home on your nightstand and one to keep with you at all other times. Read it and re-read it until the pages fall out. Then, buy more copies. Your sales WILL increase if you use the tools Mr. Cook has given you. But, you must actually use them.

We were sent a complimentary copy of this book. We are under no obligation to write any review, positive or negative.

We are disclosing this in accordance with the Federal Trade Commission’s 16 CFR, Part 255.

Notice: This post contains affiliate links. If you click a link and make a purchase, we may financially benefit from your transaction, at no additional cost to you. Thank you for your support.

Book Review: Fighting Parkinson’s…and Winning: A memoir of my recovery from Parkinson’s Disease by Howard Shifke

Fighting Parkinson’s…and Winning: A memoir of my recovery from Parkinson’s Disease by Howard Shifke

For most doctors the only tool in their tool box is giving their patients drugs. There are many reasons for this. One is that this is what most patients are expecting.

When Howard Shifke discovered he had Parkinson’s Disease, he decided that since the only tools Western medicine has in its toolbox are chemical drugs, he needed to find himself a new toolbox.

He began to research alternatives and, finding very little, he decided to create his own tool box.

Fighting Parkinson’s…and Winning: A memoir of my recovery from Parkinson’s Disease by Howard Shifke is a detailed account of what he did and how he did it, to BEAT PARKINSON’S DISEASE.

He also explains in great detail about the development of his website called fightingparkinsonsdrugfree.com.

We give Fighting Parkinson’s…and Winning all five stars. If you or someone you love has Parkinson’s Disease, you really owe it to yourself to read this book.

This book is very well-written and explains what he did, and why he did it. He includes a description of the exercises he did.

Using the methods described by Shifke is a lot like eating chicken soup when you have a cold. It couldn’t hurt you and it will probably make you feel better.

We were sent a complimentary copy of this book. We are under no obligation to write any review, positive or negative.

We are disclosing this in accordance with the Federal Trade Commission’s 16 CFR, Part 255.

Notice: This post contains affiliate links. If you click a link and make a purchase, we may financially benefit from your transaction, at no additional cost to you. Thank you for your support.

Book Review: Touched by the Finger of God: The Heartfelt True Story of a Faithful Believer by Robert E. Grant

Touched by the Finger of God: The Heartfelt True Story of a Faithful Believer by Robert E. Grant

We try to provide as many uplifting stories as we can on our How to Manage Your Monkey blog over at Blogger. We feel that Touched by the Finger of God: The Heartfelt True Story of a Faithful Believer by Robert E. Grant fits right in with that idea.

This story is one of those that you read and realize how AWESOME our God really is.

This memoir is very well-written and chock full of amazing stories. The author, Robert Grant, saw many tragedies in his life along with some amazing miracles.

It is amazing how our God orchestrates things so that they work out to His glory. You will be overwhelmed by the uplifting stories throughout this book. One warning, keep a box of tissues handy as you read about the different people in his life.

By now we are sure you are ready to click the “Add to Cart” button. You will be glad you did. This book is truly inspired by God.

We give Touched by the Finger of God all five stars. You will want to give this to moms on Mothers’ Day. Some fathers out there would appreciate this book as a Fathers’ Day gift, too.

We were sent a complimentary copy of this book. We are under no obligation to write any review, positive or negative.

We are disclosing this in accordance with the Federal Trade Commission’s 16 CFR, Part 255.

Notice: This post contains affiliate links. If you click a link and make a purchase, we may financially benefit from your transaction, at no additional cost to you. Thank you for your support.

Book Review: One Dog’s Faith: How My Dog Helped Me Trust in God and Overcome Chronic Worrying by Tom Baker

One Dog’s Faith: How My Dog Helped Me Trust in God and Overcome Chronic Worrying by Tom Baker

Rarely does one find an inspirational book entertain as much as One Dog’s Faith: How My Dog Helped Me Trust in God and Overcome Chronic Worrying by Tom Baker

In this book, we follow Mango the dog as she teaches her readers all about faith. You have heard about the faith of a child. Mango tells her readers about the faith of a dog.

Baker has a good sense of humor and treats us to what the world might look like through the eyes of a dog. Mango tells her readers about how her owner, Tom, learned to “Let go and let God.”

Throughout the book, Mango helps us to see how we, just like Tom, can give our troubles to God and sit back and enjoy the ride.

If you are struggling with faith, are at what you feel is the lowest of the low spots, you need to read One Dog’s Faith and see how one dog, and her family, learned to lean on God.

We give One Dog’s Faith all five stars. It is funny, well-written, inspired, and magical. We see how Tom goes from worrying all the time to saying in his mind, “I wonder how God is going to take care of this.” This book is truly inspirational.

We were sent a complimentary copy of this book. We are under no obligation to write any review, positive or negative.

We are disclosing this in accordance with the Federal Trade Commission’s 16 CFR, Part 255.

Notice: This post contains affiliate links. If you click a link and make a purchase, we may financially benefit from your transaction, at no additional cost to you. Thank you for your support.

Book Review: Resilience: The Science of Mastering Life’s Greatest Challenges 2nd Edition by Steven Southwick and Dennis Charney

Resilience: The Science of Mastering Life’s Greatest Challenges 2nd Edition by Steven Southwick and Dennis Charney

By now most of our readers are well aware that we have read and reviewed many books on psychology.  Perhaps one could say we are amateur psychologists.

We were sent an advanced reading copy of Resilience: The Science of Mastering Life’s Greatest Challenges 2nd Edition by Steven Southwick and Dennis Charney (Available 3 May 2018) to review and we have to say we found it to be very interesting.

This book is a fairly easy read like many pop psych books, but it is loaded with information like a psychology textbook.  It is kind of the best of both worlds.

Resilience is very well-referenced. The book references scores of peer-reviewed articles, as well as books and interviews. We give it all five stars.

If you are interested in why some people break during or after a traumatic event and others don’t, you may find Resilience to be insightful.  We think this would make a great resource for psychology classes that deal in PTSD and other conditions.

We were sent a complimentary Advanced Reading Copy of this book.  We are under no obligation to write any review, positive or negative.

We are disclosing this in accordance with the Federal Trade Commission’s 16 CFR, Part 255.

Notice: This post contains affiliate links. If you click a link and make a purchase, we may financially benefit from your transaction, at no additional cost to you. Thank you for your support.