Advice for Spendthrift Friends in Debt

While reading a post on GetRichSlowly.org, I came across an article called: “You are your own worst enemy“.

We all have friends like the “Gillian” that is described in the article.  Often time (at least in my case), we are too polite to say “What is wrong with you!  You can’t afford that!!!

Well, I finally found a funny but relevant advice video to show your friends and close ones that have this problem.

So the next time someone asks you your opinion about buying something “crazy expensive”, and they are in over $10,000 in debt to the credit card companies… already…  Have them watch the above video on youtube.com (search words”  Newhart Stop It”).

😉

-D

The Warren Buffett & Bill Gates TV Special

Last night didn’t disappoint!  Warren Buffett is such a clever, intelligent speaker!The I was going to comment on the CNBC special last night that I mentioned yesterday, but Financial Samurai beat me to the punch!

Click here for Financial Samurai’s excellent summarization of the tv special that happened last night at 9:00pm ET.

So instead, I thought I’d write a quick list about the reasons I like Warren Buffett:

  • He doesn’t flash around his tremendous wealth.
  • His house isn’t a huge mansion, see the picture below…
  • He live humbly, at least compared to his net worth.
  • He was able to become fairly wealthy at a young age, before he became megarich.
  • He make an incredible boring area (investment) interesting with his witty speeches.
  • He’s a good positive role model for the business community.
  • He give billions to charity, so he’s a great philanthropist.
  • He tries to help the market with his advice.

I admire and respect Warren Buffet so much, that I consider him one of my top 2 financial heroes! Click the link to read more about Warren!

Good Cheap Lunches

When going out for lunch, I use to eat whatever I wanted without regard to the price.  This was good, but usually once I found something I stuck to it, and whenever going to that restaurant, I would buy that menu item over and over.

Unfortunately, what the food that I liked was also typically one of the more expensive items on the menu, with the exception of steak meals.  Lately, I’ve discovered that I can make my dollar stretch farther, if I buy soups at the more expensive restaurants.  The good news is that the soup at better restaurants also taste better.  For instance, when I go to Macaroni Grill, I now buy 1 of their soup menu items.  They are extremely taste and very reasonably priced ($3.49 for a cup of Macaroni Grill’s tasty soups) plus, their free bread that comes with the meals is superb.  I have to admit, I’m not sure that I would get the bread if I went alone and ordered just soup, but since I always go with my buddies, and they still eat large, I reap the rewards… 🙂

So in an earlier Post, I mentioned that I’m doing an experiment where I only spend $12 a week on eating lunch out.  If I buy soup meals instead of the more expense meals, I can eat out 2 times a week for lunch! Booyah!

I win multiple ways with the above approach:

  • I still get to save the same $40 a week for the allowance experiment.
  • I get to enjoy the socialization aspect of lunch with my buddies at work.
  • If I only eat out once that week, I get to save an additional $6 that week.
  • I get to escape from work for an hour!
  • restaurant food taste even better, after being on a diet of noodles, peanuts, and eggs.

Buying soup when going out for lunch should be considered!  Try it you might be surprised…

Warren Buffett and Bill Gates Special on CNBC tonight at 9:00pm ET

My top 2 favorite financial heroes are Benjamin Franklin and Warren Buffett!  So when Warren Buffett speaks, I listen…  Bill Gates being there is extra icing on the cake!

Warren Buffett and Bill Gates are the richest people in the world.  So tonight, should be an exciting television event. 

Tonight on CNBC, they are going to show a 90 minute special with Warren Buffet and Bill Gates at 9:00pm ET.

Warren Buffet (like Benjamin Franklin) is an enticing speaker, adding charisma, folksy charm, intelligence and humor to his easy coming but brilliant comments and speeches.

Bill Gates (obviously incredible intelligent), is more reserved.  He, like Warren, is a great philanthropist.  He speaks well too considering he is somewhat reserved.

Whenever you have the 2 richest individuals in the world talk about the economy, I think it’s something that shouldn’t be missed.

I hope it’s worth the wait! 😀