Archive for the ‘Financial Management’ Category

Researching A Company’s Entire Product Lineup For Value

Saturday, August 30th, 2014 by

Today I was researching for a portable lighting solution for my DSLR camera and there were a lot of options. First my search introduced me to things like ring lights where everything seemed to be in the $100 to $200 range. I then saw this interesting LED light product under the name Neewer where some of their lights were in the $30 range that many people seemed to like.

At first I saw a lot of videos about a model dubbed as “CN-160” which seemed to be in the $30 range. While that seemed okay, normally my price evaluation process leads me to try and research the company’s entire lineup to get a better sense of what is the best for a good long-term purchase. Sure enough, I then saw models such as a “CN-216” for about $50 and then a “CN-304” for like $90.

I personally think this should be on everyone’s to do list before they make a semi big purchase as many times we simply compare prices that we see on the shelf which doesn’t tell us enough about the best current market value product for your dollar. That would mainly just tell you the best value that say the store is offering at the moment. Not only that, you sure learn a lot about the options that are available to you which in-turn helps you to be a better shopper I say.

A What To Invest In Mindset

Thursday, August 28th, 2014 by

There are about three different items I was thinking of investing in as a way to get some specific projects going and it got me thinking how this is kind of an important mentality to stay out of debt in many ways. Basically, instead of always using your money on entertainment or lavish ways to dine out you should get into the habit of thinking how you can use your money to either make more or to free up your time.

Trying to do this during times where finances aren’t really an issue is a good time to do so too as oppose to scrambling to say find some money making opportunity when you are in a pickle in hopes that all your financial problems will go away with a lottery mentality. It helps to surround yourself with other like-minded individuals as I often find doing so allows you to get ideas and support from others who have similar goals. Basically have to be pro-active in finding ways to not always have zero savings if your goal is to have a good nest to rely upon.

The Wear And Tear Phase Debate

Thursday, August 21st, 2014 by

I’ve had my current smartphone for almost three years now and lately it’s been really showing its time of wear and tear. For example, the off button needs to be pressed extra hard to register and in some ways the touchscreen doesn’t seem as responsive. So that got me thinking if I should start looking for a new device.

I’m usually more of the type who will try to use devices like these until they get extremely unusable or if it simply breaks down completely. Especially in these cases where I would probably spend quite a bit of money on a device that I expect to get a few years out of it. Would you be inclined to just break open the bank and buy a new phone in this case? I know for me, there has to be an extremely earth shattering good sale for me to jump on the change at this point as a little annoyance is tolerable I think to save hundreds of dollars.

Saving Thousands By Reading A Manual

Sunday, August 17th, 2014 by

This was kind of funny as I was told of a situation where a company had to setup this photo booth of sorts for an event where none of the employees had first-hand experience with it. Therefore, they were given an option to hire a person from another area to go down and set it up for them for about $1500. Not surprisingly, for that price tag they wanted to try it themselves.

For the most part, all of the instructions and manuals were there on how to set the thing up. The only thing it required was someone to take the time to actually read it. Ultimately, they did get someone where everything was up and running in about two hours. To think, just reading a manual saved that business over a thousand dollars. This can be so true for many other things too such as hiring people to hook up a computer or home theatre system when overall it’s not actually that complicated.

Even I feel a little too lazy to read through a manual, nowadays I usually try to at least find a tutorial video about it online which often works just as well. Saves time and money.

Financial Insecurity To Help Others

Wednesday, August 13th, 2014 by

I was reading a story today of a person who really wanted to start their own business as ultimately they want to help others. However, financially this would cause the person potential hardship as whenever you create your own business you are in that not knowing when your next pay cheque will be scenario when you start out. A comment was then thrown out that if you helped one person in the world then it would be all worth it. That’s where it seems the conversation got a little messy.

I think financially speaking the reality in these cases are that as good as you may feel your cause is you have to have a plan to take care of yourself financially as opposed to assuming that the universe will equally reward you to keep you afloat. It’s one of those things where you can dream big but still need a realistic action plan I guess you can say.

I have one project for example that has pretty much cost me time and money where I made it to help people. However, I did that knowing that I have other things in place to enable me to do so. It would have been crazy for me I think to say drop everything with no form of income stream believing that my good deed will automatically mean people will support me financially so I can keep doing it. I probably would have had to close it a long time ago in that case. Instead, this way I can still do that without putting myself in a financial pickle. Need to make sure you are okay yourself first before you can help others.