You would have much greater personal wealth if only they would get things in order in Washington.

You would have received raises and promotions if only they would see your value at work.

You would have a job if only they would actually read your incredible resume.

You would be able to save money if only they didn’t manipulate you into buying stuff.

No matter what is going on in your life, you can probably find a reason why someone else’s actions is keeping you from what you want. There are many elements of life that are outside of our direct control, and when the people who are in control of those elements make choices that don’t benefit us, it can be incredibly frustrating.

However, it is in that moment of frustration that you decide whether or not you’re going to succeed.

Do you simply say that the powers that be are holding you down and accept that fate? Do you blame them for the problems in your life? Do you choose the path of least resistance and let the forces around you tell you where to go? Do you give in to the desire to wallow in self-pity and blame?

Or do you choose to try a different path?

If you don’t have the wealth you want, what actions can you take right now to start building it? Don’t worry about what other people are doing. Focus on what you can control. Can you spend a little less? Can you invest and diversify a little more?

If you don’t have the career path you want, what actions can you take right now to start building it? Don’t worry about what other people are doing. Focus on what you can control. Can you take control of a key project at work and make it shine? Can you take additional classes to bolster your skill set?

If you don’t have the job you want, what actions can you take right now to start acquiring it? Don’t worry about what other people are doing. Focus on what you can control. Can you jazz up that resume? Can you find ways to communicate with and network with people in your field?

If you don’t have the savings you want, what actions can you take right now to start building it? Don’t worry about what other people are doing. Focus on what you can control. Can you take control of your spending and, more importantly, seriously evaluate the spending that you consider “untouchable”? Can you find new ways to be frugal in your day-to-day actions?

It is incredibly easy to fall into the trap of blaming “them” for our problems. Yes, some of the time, others do make choices that limit our own options.

It’s when that happens that the successful separate themselves from the pack. Do they waste energy blaming others or do they figure out what they can do from their current situation?

Time for a confession here.

The single biggest challenge I have when it comes to avoiding unnecessary purchases is avoiding them online.

I think there are a few reasons for this.

First, I don’t have a chance to talk myself out of a purchase. In a store, I typically have several minutes between when I pick up the item and when I’m actually at the checkout purchasing the item. I often use that time to try to talk myself out of the purchase.

At an online store, those several minutes are reduced to several seconds. The time from putting an item into your “cart” to actually buying the item is drastically reduced at any well-designed e-commerce site. That leaves you with less time to actually decide whether or not to go through with the purchase, and the inertia of actually having the item in the cart often carries through until the item is bought and paid for.

Second, the process of paying is typically more convenient. If you have, say, an amazon account, you likely have your credit card information stored there. You don’t have to get out your wallet. You barely have to move to pay for an item. You just click – and it’s there.

Third, the access to online information often encourages you to buy. You’re sitting there at a web browser with a wealth of information at your fingertips. You’re able to research the item. Typically, because you’ve already decided you’re at least highly interested in the item, the information you find mostly just serves to reinforce that idea, at least in the short term.

Those three things, added together, knock down most of the defenses I have against impulse buying in brick-and-mortar stores. Given that I’m also at home during the weekdays to receive packages and it’s easy to see why online ordering ends up being a weakness.

What can I do to defend against unnecessary online purchases? I have a few things that tend to work pretty well.

First, I don’t store my credit card information in online sites. For me to go ahead with a purchase, I have to actually dig out my credit card or other payment information and fill it in manually.

This tactic tends to buy me the “several minutes” that I need to talk myself out of an unnecessary purchase. I can use that time when I’m digging out my credit card, studying the card to figure out what the number is, typing in the number, typing in the security code, grumbling when I get an error message telling me that the number is invalid, typing the number in again because I realized I couldn’t tell the difference between the worn 6 and the worn 8, and finally getting through. During that process, I’m quite likely to convince myself that I don’t really need the item.

Second, I use the “wishlist” feature of sites heavily. Often, instead of putting an unnecessary item into my online “cart,” I’ll just add the item to my wishlist on that site. My wife knows where many of my online wishlists are, so she sometimes trawls them for gift ideas, knowing that they’re full of items I have an interest in but won’t spend the money on (which means it’s a good gift idea).

Not only that, it’s also a way for me to give a product purchase some additional thought. From time to time, I’ll clean out a wishlist on a particular site and if something still seems strongly compelling to me, I know then that it might be worthwhile. The surprising thing is that I don’t have that feeling for the vast majority of wishlisted items that I look at later on.

Finally, I get really into comparison shopping and price sniping. Instead of just buying an item I desire, I’ll wait until it shows up at a price I’m willing to pay for it. I’ll use tools like this feed filtering trick to find items at the right price for me.

Often, during this process, I’ll eventually realize that I don’t want the item. Even if I do still want the item, I’ll know that in the end I paid less for the item.

This happened recently when I purchased a GPS unit for my father as a gift. I wanted to get him one with certain features, but we also happen to have something of a gift-giving budget. Rather than just buying a low-end one or blowing my budget, I waited patiently using some automatic searching tools (like the one linked above) until the right item came up at the right price (it took about five months).

These three tactics together have gone a long way toward curbing my online spending on unnecessary things.

Many of us are spending today enjoying the latter days of summer. I sure am. I’ve spent the last few days with my cousin and her family, visiting the Art Institute of Chicago and just simply enjoying each other’s company.

Take a moment, though, to remember why it is that we’re taking this day off. Labor Day is a celebration of the contribution of America’s workers to the economy.

The successful economy of the United States was built on people working hard, taking the initiative, and going beyond what was minimally needed for their paycheck. The rewards of this are obvious: the world’s largest economy, the amazing level of economic growth the nation has seen over the last 150 years, and the countless stories of personal success that have tied into this growth.

Those stories of personal success – people starting their own businesses, people getting ahead in their workplace, people saving their money and becoming wealthy – are part of the American story. At the same time, though, they’re examples of people putting aside their immediate desires – such as being lazy at work or spending money frivolously – and working hard for the long term future.

That’s the success that the United States was built on.

It’s also a big part of why we celebrate Labor Day. Hard work.

Enjoy the time off today.

When you return to work tomorrow, though, remember that it was hard work and frugality that built the success of this country. It’s the very thing that Labor Day was celebrating.

Then ask yourself if you can live up to that standard and, as a result, find that kind of success for yourself. Whether it’s in your work, in your entrepreneurship, or in your frugality, you can find success only through one way.

Hard work.

No one ever said that success was easy.

What’s inside? Here are the questions answered in today’s reader mailbag, boiled down to five word summaries. Click on the number to jump straight down to the question.
1. Refinancing decision
2. Maintaining good credit
3. Toning down our wedding
4. Handling a windfall
5. Handling a changing 401(k)
6. Handling unpayable medical bills
7. Repossession and marriage
8. Muffins instead of bread
9. Recovering from early identity theft
10. Caucus plans

This past Saturday, I (finally) got to go with my children to the museum at the Art Institute of Chicago. I wasn’t really sure whether or not my two older children would really get into the experience, but they were completely into the experience.

The one real problem is that they wanted to touch some of the paintings, particularly the Van Goghs. We had talked a lot about how some of the effects in oil paintings comes from the layering and texture of the paint, so they wanted to experience it with their hands.

It was a great experience. If you ever have a chance to take a child to a great art museum, take it.

Q1: Refinancing decision
My husband and I currently have a 10-year fixed mortgage at 3.875%. We are 6-months into the mortgage and have a balance of $695,000 left on it. We have the opportunity to refinance into a 30-year fixed loan at 4.15%. My question is this: would it make more sense to refinance and have more cash to put into savings now (assuming we can make more than 4.15% with our invenstments, which I know is no guarantee with this ecomomy!), or should we stick it out with the 10-year loan at the lower rate, pay off the house sooner, and put more into savings at that point?
- Erika

You should stick with the lower interest mortgage over a shorter term, for two reasons.

First, the total amount of interest you’re going to pay over the ten year mortgage versus the thirty year mortgage is drastically lower. You’ll save hundreds of dollars in interest by sticking with the lower interest loan. It’s not just about the interest rate or the term – it’s about both in combination. The longer mortgage is worse on both counts.

The second reason is flexibility. When you reach the ten year point, you’ll have the debt albatross of that thirty year loan still hanging around your neck for the next twenty years if you go that route. On the other hand, you could be debt free. This means a lot in terms of how you’ll be able to live your life for those twenty years. You’ll have the freedom to make career choices and other things that you just wouldn’t be able to do with a large debt that you’re still struggling with.

Yes, both of these points are moot if you have a great run with your investments. However, if you have some investment that you know will return a great positive, you’re in better shape than Warren Buffett, especially over a relatively short term. I would always take the 4-5% return guaranteed than hoping for a better return at this point.

Q2: Maintaining good credit
I’m 26, single and have been aggressively paying my student loans to get them off my chest. I should be finished paying my loans by next summer. My next set of big goals include saving for a new car, saving for a 20% down payment on a house that’s worth 2.5 times my salary (at most), and contributing more to my 401k. Upon running my credit check, my landlord disclosed I have a great credit score (800+). And before you ask, I have been checking my credit report annually but never knew my score.

Here’s my conundrum: how do I maintain a good credit score after I pay off my student loans in order to get the best interest rate for a mortgage? I’ve read that once people pay off installment loans, like a mortgage or student loans, their credit score drops. I have two credit cards and never carry a balance. I planned to save until my current car dies and buy a used car with the cash I saved. I have no other debts.

Should I finance a new vehicle to start a new installment loan?
Should I open a few more credit cards and pay the balance each month?
Should I even worry about my credit score if I save 20% for a down payment?
- Jamie

Your credit score might drop a bit while you don’t have an installment loan on your credit report, but the drop will be minor if you also have an outstanding line of credit or two.

You already have two credit cards. Those will stay on your credit report. If you keep them in good standing, the lack of an installment loan on your credit report won’t have much of an impact on your credit score.

It’s important to remember that credit scores are not an exact science. The exact method for calculating them is a trade secret and is not available to the public. Any comments about credit scores are based on the small amounts of information that the company who creates the credit score formula (Fair Isaac) has made public.

Q3: Toning down our wedding
My fiance and I have set a wedding date for next summer. A few years ago when my sister got married, it was a huge elaborate affair and really expensive. I don’t want to put us or my parents through this expense. What can I do to have a smaller wedding? How can I convince everyone to go along with it?
- Kendra

Simple. This is your wedding. It is not their wedding.

This wedding should reflect who you (and your partner) are, not who other people in your family are. If you let their opinions and desires for a wedding dictate the choices you make for your wedding, then it’s no longer your wedding. You’re letting them run the show.

Simply tell them that this is your wedding and you’ll be doing it your way. If they choose to participate, that’s up to them. Leave it at that.

Q4: Handling a windfall
The quick breakdown on my savings/personal detail is – 30 years old, Pay – (Gross) 35K a year, 401K/Roth 401K (my employer recently offered the Roth option and I have moved my future contributions to that) – 30.5K @ 10% contribution (employer match is 50% of the first 1000$ and a 3% Gross Pay inclusion), Roth IRA – 13K @ 300$ a month contribution, Emergency Fund – 6K

I will be receiving a 10k windfall from the buyout of the company I work for. This will money will be from stock so there are some tax implications that I need to nail down; however my napkin math gives me a low-ball figure of 8k into my pocket.

My first question is after fixing up my used car (I want to put a limit of 3k into it to get it to last that much longer), a digital camera purchase (I’ve been shopping around for about a month), maxing out on my Roth IRA, and putting aside some vacation money; I should have about 3k left over. I’ve been thinking of using that money in some personal investing into the stock market. Probably a broad based index fund for the S&P 500. I see that Vanguard has a fund that seems to be just right for my needs since they have very low fees as long as the aspects of the investment are handled online.

Rereading that paragraph I guess I’m just trying to confirm that this is a good idea. I’ve always felt safe in my retirement vehicles that branching out seems a bit intimidating.
- Matt

The idea of investing the remaining $3,000 is a good idea. However, you should always have a goal before you invest. Without a goal with your investing, it’s kind of like walking out your front door, picking a random direction, and heading that way. You might end up in a place you’re happy with, but you’re just as likely to wind up running into a wall without making a whole lot of progress.

Figure out what you’re shooting for, whether or not you’re okay with sustaining some losses along the way, and what the timeframe for that goal is. Is this the start of a house down payment? Are you hoping to retire a bit early? Is this seed money for a side business?

Think about that goal for a while before you invest. Stick it in a savings account until you’re ready. If it’s a short term goal or one where you don’t want to sustain any loss, leave it in that savings account.

Matt has a follow-up question.

Q5: Handling a changing 401(k)
Part two which I could use an outside perspective on is that my 401k is going to change w/ the buyout. Our match will increase to 9% of Gross Pay with no need for the employee to contribute. This is obviously an incredible plan that I have no choice but to take advantage of and frankly am quite excited about. Is it a good idea to reduce my contributions to my Roth 401k to max out my Roth IRA?

I am toying with the concept of “retiring” early (around 55). I put that in quotations because I don’t intend to leave the job market; just work less. Considering that, would a reduction of my contributions to my 401k only to put them in the same Vanguard index fund I mentioned above be a wise decision? What sort of tax implications would this have, or where could I go to find more information?
- Matt

If it makes no impact at all on the amount of employer match you’ll be getting, then I would make sure my Roth IRA was maxed out before contributing any more to my 401(k).

For one, a Roth IRA gives you more control and flexibility over how you invest. You can choose your investment house and choose from a much wider variety of investments.

For another, a Roth IRA lets you use post-tax money and allows you to make tax-free withdrawals when you’re in retirement. If this is a part of your retirement “income,” you can use this in balance with your 401(k) to make for small tax bills in retirement. With everything in your 401(k), you’re quite likely to slip into a higher tax bracket. Overall, you’re likely going to be better off with a balance between the two, both now and later.

Q6: Handling unpayable medical bills
Last year (my junior year in college) a portion of my vision suddenly disappeared while I was at work. (I’m telling you this because I don’t want you to think that I was trashed and needed my stomach pumped.) I am very conscience of how much things cost so I called my father to ask if I should go to the hospital, to which he responded that I should go and that he would cover any expenses I incurred. I was treated and released within a few hours.

When the bills began arriving (three of them totaling about $3,000) I forwarded all of them to my father because I was carried on his insurance plan. In June I realized that he had not taken any action on the bills so I began pestering him to take action. It’s now the end of August and he’s done nothing. Subsequently, two of the bills have been sent to collections and my father has implied that he can’t afford to pay the bills. I’ve also talked to the insurance company and am 90% sure that they are not liable to pay the bills because we didn’t meet the deductible.

I’m in college and have absolutely no experience with insurance or the future implications of being sent to collections and owing nearly $3,000. My naivete is partly to blame for the situation- I had to good faith that my Dad was going to take care of everything because he said he would. But I’ve wised up in that arena I’ve been very proactive about talking to everyone I owe money to trying to figure out what I should do. But in all honesty I’ve extremely overwhelmed since I’ve never dealt with something like this before.

Two bills (accounting for about $600 total) were sent to collections and another one costing about $2,400 is about to be. My question is very broad- what is this going to mean for my financial future and how should I handle it.
- Kerry

The answer to this is negotiation. If the hospital still has control of the bill, you need to negotiate with them immediately for some sort of payoff plan that works for you (and for them). If they’ve already passed the bill onto collections, you need to negotiate with the debt collector.

In either case, you need to negotiate the amount down to a level you can pay as well as asking for them to strike the debt from your credit history. They have the power to do this through reporting, though they may be hesitant to do so.

You have to do this soon, however. The hospital is much more likely to work with you than the bank is.

Q7: Repossession and marriage
I have just been foreclosed on and am awaiting the scheduling of the sheriff’s sale of the property. I do not have a sense of the timing of this, but I do know that I will more than likely face a deficiency judgment. As I understand it, the Mortgage Forgiveness Act of 2007 will potentially allow me tax relief from the forgiven debt, but in the event that there is a deficiency judgment, how could that impact my future spouse’s credit and assets? I’m currently in a serious relationship that will be moving along to marriage; the entire financial process of the house has all been before this relationship. If the lender pursued payment on the judgment and we were married, could they look to either his income, accounts, or even joint assets (of which we currently have none)? If the lender forgives the debt, is it possible that I could not have the relief of the MFA since it could perhaps no longer be considered the primary residence?
- Emilie

It won’t directly affect him. However, it will indirectly affect him in many ways.

Your credit will be very poor. This means that any loans you take out will have to either be under his name or be facing a high interest rate due to your poor credit. You’ll probably also be exposed to higher insurance rates and the like.

His credit will be impacted indirectly due to having to carry many or all of the debts of your household. He’ll also have to deal with the higher rates, which will affect him because they will affect household finances. However, his credit report shouldn’t be directly affected by this.

Q8: Muffins instead of bread
Living in the southwest – with it’s high heat – I have found that instead of baking bread for 45 – 50 minutes, make muffins with the same recipe, only cook for about 15 – 20 minutes. Then you have some nice individual servings, in half the time. Less baking = less cooling off of the house = less $ on electricity. Works for me.
- Pat

This is a very good solution for many different kinds of baked goods, from cupcakes instead of cake to cornbread muffins instead of loaves of cornbread.

For most purposes, this works very well, too. A small roll of bread can work perfectly as an accompaniment to dinner or for a small sandwich. As you mention, it’s also cheaper for baking, too.

We do this with many of our bread items with the exception of occasional loaves that we’ll eat as sandwiches.

Q9: Recovering from early identity theft
Individuals in any, but especially, younger generations may face identity theft due to increased online exchange of personal information. The younger generation generally uses the internet for many transactions, one including applying to jobs where vast amount of personal data is submitted, including personality tests. These days, an individual may send out 100s of applications fishing for that first job. Compounded with the increased use of social media (though I’ve been very cautious on these sites), an identity theft easily can take your information and run with it.

I have been a victim of this and am still fighting it. It is a chase, where the victim seem one step behind the theft trying to stop them from ruining their financial and personal life. I am wary of getting married because of the effects that this may have on my spouse’s or children’s life. I am afraid some jobs may not even take me if I have been a victim of identity theft due to liability.

This e-mail is a disclosure of this problem in addition to the question: How does one recover financially and emotionally from identity theft and move forward without fear and paranoia?
- Michelle

This is much more of an issue of psychology than that of personal finance. I do absolutely agree that identity theft is a real problem that needs a new solution. I think the solution involves biometrics, but that opens up other challenging issues.

As for your specific concern, I think the solution involves simply being very careful with your personal information. You may also want to move forward with some action regarding reclaiming your identity, such as a legal name change. You may also want to contact the Social Security Administration for help, too.

Another step might be talking to a psychotherapist who can help you work through some of the trust issues. While I don’t think you’re in a situation where you need psychopharmacology, it might be good to talk with someone who can help you work through these issues.

Q10: Caucus plans
You mentioned that you’re caucusing as a Republican in Iowa this year. Who are you planning to caucus for?
- Edwin

As I mentioned a week or so ago, I tend to switch my party registration regularly so I can participate in both the Democratic and Republican caucuses that I’m interested in. Iowa makes this very easy to do.

As for who I’m going to caucus for, I’m really unsure up to this point. I will say that I don’t think anyone gets to the point of being a serious candidate for President without having some genuine qualifications and I don’t think any of the major candidates would be a bad nominee.

The problem that many people who are interested in politics have is that they brand people who don’t agree with them as “evil” or “bad.” That is rarely (if ever) true. This is not the Red Team versus the Blue Team. This is America. We’re all in this together. Let’s try to solve some problems.

From that perspective, the only candidates I tend to eliminate are the ones who seem to be saying that they’re going to be purely combative if they win the office. If you’re just going to plant your feet firmly and not bother trying to solve any problems in any realistic way, I’m not going to vote for you.

You can probably draw some conclusions from that as to which candidates I’m leaning toward and leaning against.

Got any questions? Email them to me or leave them in the comments and I’ll attempt to answer them in a future mailbag (which, by way of full disclosure, may also get re-posted on other websites that pick up my blog). However, I do receive hundreds of questions per week, so I may not necessarily be able to answer yours.

Every Sunday, The Simple Dollar reviews a personal finance or other book of interest. Also available is a complete list of the hundreds of book reviews that have appeared on The Simple Dollar over the years.

One of the best discussions I’ve ever had with a reader was with Emily. Emily worked in an office environment where the supervisor position was going to become available soon. She felt as though she had the skills to take on that position and the track record in the workplace to win the competition for it, but something else worried her.

She felt that she had a great relationship with a lot of her coworkers. They were her friends and confidants, and she was worried that becoming their supervisor would damage those relationships.

I felt as though that were a valid concern. Quite often, the job requirements of being a supervisor can really interfere with relationships you might build with people in the workplace. You might like your boss or you might dislike that person, but there’s still an inequality between the two of you in the workplace hierarchy.

I encouraged her to talk about it with her friends and make up her own mind. She decided not to seek the supervisor position after some time reflecting on it, which was probably the right move for her.

Recently, I discovered a book that would have been just about perfect for Emily. From Bud to Boss by Kevin Eikenberry and Guy Harris covers this exact scenario. How do you transition from being “one of the gang” to being a successful leader? It’s not an easy path for anyone to take.

Succeeding in Your Transition to Leadership
The most profound idea that Eikenberry and Harris set out in the book comes early on, when they focus on the difference between control and influence from a manager’s perspective. If you focus on controlling people, the amount you can actually control is pretty limited. People don’t like to be controlled and the more controlling you are, the more they’re going to squirm away. Instead, you should focus on reducing your control and instead focusing on your influence. Instead of telling people what to do, instead talk about what needs to get done as a whole and break it down in front of everyone so everyone knows the role they have to play. Give them some slack and let them know that you really believe they can do what they need to do. Many people thrive under those conditions and it doesn’t have to rely on “putting the hammer down.”

Change
The best way to handle this kind of transition is to talk about it. Ask questions. Ask people in the office what they’re feeling, what they’d like to see done differently, whether they’re happy with their job right now, and so on. Talk about your own challenges in this new role so that they understand that you’re both facing new challenges in this changing time. Candor really pays off during times of change.

Communication
As you establish communication lines during the transitional period, keep them open after the transition has happened. Talk to people often – and not in a Bill Lumbergh top-down-do-what-I-say approach. Ask them what their challenges are. Let them know what you can do – and what you’re doing – to make it possible for them to succeed.

Coaching
This section focuses on the difficult task of giving feedback to people based on their performance. The key, as always, is to look for both positives and areas to work on for everybody. The best supervisor I ever had told everyone in the office, all at once, that he was going to tell each of us about the things we’d done well and give each of us one area to work on to improve our job performance in the coming year. That’s exactly what he did and that made all of us feel as though we weren’t being singled out for bad performance while also hearing about the thing we needed to improve on.

Collaboration
A key part of success in any workplace is hinged on the success of collaboration. Are people able to work together well? My experience – and this is right in line with this section – is that success often is hinged upon each piece of the collaboration understanding clearly what is expected of them and what the other collaborators expect. Again, it all comes back to clear communication.

Commitment to Success
In the end, it all comes back to you. What’s your commitment here? Are you committed to building a career here? Are you wanting to build a track record of success? It’s really up to you. A key thing, as always, is to be clear with yourself – and with others around you – with what your goals are. Hidden games rarely work. Hiding in your office doesn’t work, either. Instead, be clear with what you’re doing and what you expect from others.

Is From Bud to Boss Worth Reading?
Much of the content of From Bud to Boss is just a primer on how to be a good boss with some material included to make people feel more comfortable with the transition from coworker to supervisor.

That doesn’t make it a bad book. In fact, it makes it a very good book for people in Emily’s position. If you’re thinking of trying to take on a supervisory role but are afraid of how it will impact your workplace relationships, this is an incredibly valuable read.

Check out additional reviews and notes of From Bud to Boss on Amazon.com.

Let’s face it: if you live in a small town, your gym options are limited (at best). Even if you live in a city, going to a gym can be expensive if you’re trying to get into shape.

The question I always ask is why go to a gym? What does going to a gym offer than home exercise does not? Here are some of the issues I worked through before deciding to give up my gym membership and exercise at home.

Equipment Aside from a small number of weights, I found that I was rarely using any of the equipment at the gym. Instead of using the treadmills or the ellipticals, I would just jog outside (the only exception to that is in the worst part of winter, which really doesn’t last that long). Instead of using a stationary bike, I’d just go… ride my bike. All that I really need at home is a small set of weights and knowledge of how to use them.

Honestly, though, most of the exercises I find value in require little or no equipment. The exercises in the book You Are Your Own Gym or in some key videos you can find demonstrate very valuable exercise without any equipment at all.

Trainers I have never in my life been in a gym environment where I’ve received more than cursory help from a trainer. I have found much more help from watching online videos, reading books, and asking questions in online forums.

One could easily argue that perhaps I didn’t demand enough attention from trainers at various times. What I found, though, is that getting sustained attention from a trainer was expensive. At every gym I’ve ever attended, trainer session times cost a significant extra amount and trainer free times were incredibly overcrowded.

Obviously, we’re not talking about perfect form on powerlifts here, just suggestions for keeping in basic shape.

Motivators Again, there is no motivator in the world that works better for me than the mirror. Someone yelling at me to push myself might work, but I’ve found that just listening to my own sense that I need to improve and demanding that I do the work is the best motivator out there. I’ll use pictures of myself and when it comes to a “crunch time” moment, I’ll yell at myself just as harshly as any motivational trainer.

Ideas That’s what the internet and books are for. There’s an abundance of exercise ideas wherever you look.

Activities Most of the physical activities I really enjoy, such as ultimate frisbee and basketball, are completely free and provide a very good cardio workout.

This isn’t to say that there’s not value in participating in a gym. There certainly is, particularly from people who need guidance in certain areas or need the motivation of having a dedicated place for exercise.

For me, though, the state of my own body is the best motivator for exercise and I already have the equipment I need in the form of my own body, a bicycle, and a few weights. Why should I drop some significant amount on a gym fee?

When I fail at exercise, it’s my fault, not the gym’s. The same is true when I succeed. The hard work comes from me.

Often, when I try out a frugal idea and it ends up being a post on The Simple Dollar, I struggle with the question of whether or not this is actually a really good frugal idea, both for my family and for the families of the people reading the post.

I’m in a situation where time is really at a premium. Most evenings end not with a couple hours of casually watching television, but with a collapse into a heap of exhaustion. I’m often up by 6 AM and I’m still loading dishes in the dishwasher at 10:30 that evening. We have three young children, my wife works in a demanding career path, and I’m running a small business that demands a significant amount of creative focus. Time is the element that is at a premium at our house.

In other households, it’s money that’s at a premium. They’re limited by their economic situation, but they have at least some amount of time on their hands. Still others find themselves pinched by other factors (like disability or energy) or by combinations of the above factors.

There’s also a wide variety of living situations and interests. I have single readers, married readers, readers with houses full of children, readers in tiny apartments, readers with huge gardens and readers with none, readers with three cars and readers with none. Different frugal ideas work differently in each of these situations.

How do you really know if an idea will work for you? In all likelihood, the person giving the tip is in a different life situation than you are, whether you read the tip here or on another site. Is it relevant? Is it useful to your life?

Here are some specific things that I look out for when deciding whether or not a frugal tip is really going to fit into our lives.

Does it require a lot of time, particularly time all in one block? If something is going to require me to plunk down a couple hours of time all at once, it had better save a lot of money or it’s not going to be worth it for me. Six years ago, before I had children, that might not have necessarily been true. Today, with three children running around and a small business to manage, time is something that’s really valuable to me.

Is the savings rate per hour enough to entice me to invest my time? If I’m investing an hour just to save $0.50, it’s not going to seem compelling to me. I can easily earn way more than that in another frugal activity or in some work task. My usual threshold for attracting my interest based soley on the savings rate is somewhere around $10 per hour of time invested. If it’s much less than that, it’s going to take something else to get me into it. Your rate may be more – or it may be less than that.

Is it something that seems fun? If something looks like it’s an interesting activity, I’m much more likely to try it even if it returns very little. Usually, this means a project that I can get the entire family involved with or something that’s in line with a personal interest of mine, like soapmaking.

Is this something that’s in line with another value of mine? I’m a big fan of things that cut my personal energy use, not just because it saves me money, but because of the positive energy use impact of that decision.

Is this something that’s permanent? I tend to be more interested in frugal options if the positive consequences of that action are permanent or just completely replaces a previous activity. In other words, it adds no additional time demands to my life beyond the initial change. For example, air sealing my home is a permanent change that requires no additional continuous activity. Using LED light bulbs is a change that doesn’t require me to do anything different over the long haul.

The key thing to note here is that the reasoning for various frugal activities varies from person to person. Your reasons are going to be different than my own. Another reader’s reasoning is going to be different than you or I. There is no right or wrong here, just different lives.

Instead, it’s important to recognize what makes a good frugal tactic for you. When you look at a list of tactics, not all of them are going to match your life. The key thing is to know what exactly you’re looking for so that you can easily go through that list and pull out the ones that have potential for you. Remember, if you pull out two things out of a list of a hundred and those two things actually save you money, then the list of a hundred ideas was worthwhile for you.

Each week, I highlight ten things each week that inspired me to greater financial, personal, and professional success. Hopefully, they will inspire you as well.

This edition is going to be very quote-heavy. I spent some time this week working on a slide show project where photographs were paired with inspirational quotes. I found a lot of them during the search and wanted to share some of them with you.

1. Abraham Lincoln on the life in your years
I would far rather live until 50 having done something of value with my life than live until 80 having not left my mark on the world in any way.

“And in the end, it’s not the years in your life that count. It’s the life in your years.” – Abraham Lincoln

What have you done with your life? What can you do with the years you have left to change those around you for the better?

2. T. S. Eliot on exploration
This quote captures how I feel sometimes when I revisit my very familiar hometown. All of it is so familiar, but at the same time all of it is so new.

“We must not cease from exploration. And the end of all our exploring will be to arrive where we began and to know the place for the first time.” – T. S. Eliot

Exploring the world lets you see what you already have through new eyes.

3. Catchafire
If you’ve ever thought about giving time to charity but didn’t know where to start, Catchafire solves that problem. It’s simply a clearinghouse of charities with time and skill needs. You simply go there, identify the time and skills you have, and it finds charities that really need your help to further a good cause.

4. Bob Proctor on the big journey
You’re in the driver’s seat. Where do you want to go today?

“It doesn’t matter where you are, you are nowhere compared to where you can go.” – Bob Proctor

Don’t limit yourself. Think big.

5. Dale Carnegie on the present
The present is loaded with so much beauty and so many opportunities that I can’t help but wish I had more time to enjoy it.

“One of the most tragic things I know about human nature is that all of us tend to put off living. We are all dreaming of some magical rose garden over the horizon-instead of enjoying the roses blooming outside our windows today.” – Dale Carnegie

You don’t need to buy stuff to enjoy today.

6. Chess with my son
Over several days recently, I’ve been playing chess with my oldest son after he’s arrived home from school. He’s a quick learner.

What’s really made the experience wonderful, though, is his enthusiasm. He enjoys playing and wants to get better at it.

Many thanks to Mukumbura for the picture.

7. Niccolo Machiavelli on small plans
Going to the grocery store and to the bank isn’t inspirational.

“Make no small plans for they have no power to stir the soul.” – Niccolo Machiavelli

Doing something big certainly can be. Think big.

8. Thomas Jefferson on luck and work
Luck is a natural outgrowth of hard work.

“I’m a great believer in luck, and I find the harder I work the more I have of it.” – Thomas Jefferson

I see this time and time again in my own life. When I put in the time, good things happen.

9. Nat King Cole singing “L-O-V-E”
This is one of those “American standards” that is familar to many.

What stunned me about this is that just recently I learned that he recorded this while extremely ill. He entered the hospital just a day or two after recording this and passed away within two months. Knowing that caused me to listen to this song in a completely different way.

10. Pablo Picasso on art and maturity
I see this in my children every day. How can they keep their abundance of creativity into adulthood?

“All children are artists. The problem is how to remain an artist once he grows up.” – Pablo Picasso

More importantly, how can they find ways to channel it into something productive without giving up on it?