People often ask me about the secret to this blog’s success. “How did you get so many readers?” they ask. “How can I do the same?”
My answer is similar to Anderson’s. There aren’t any secrets. Write and post great content on a regular basis for a long, long time. In short, you can’t just talk about building a great blog; you also have to put in the work. Simple, right? But it’s not easy.
(I appreciate the folks who come up to me and say, “You know, J.D., I don’t know how you do it. I tried to keep a blog for a few months. It was hard.” Yes, it is. It’s work, just like anything else.)
If there’s something you want to be or do, the best way to become that thing is to actually take steps toward it, to move in that direction. Don’t just talk about it, but do something. It doesn’t have to be a big thing. Just take a small step in the right direction every single day.
If you want to get out of debt, take small steps toward becoming debt-free. If you want to save for a trip to Africa, save a little bit at a time. If you want to get a new job, make moves in that direction. But take action. That’s the most important step.
Action Not Words
Of course, there’s more to getting stuff than just taking action. It’s one thing to say you want to become a commercial airline pilot and another to actually do it. Here are some of the things I learned as I made the move from Talker do Doer:
- Make time for the things you want to do. One of the keys to getting things done is setting aside time for the things you want to accomplish. You have to make time to get stuff done. As the Kevin J. Anderson article I mentioned above demonstrates, you don’t just become a best-selling author or an Olympic athlete. Talking doesn’t make it so. You have to carve out time to do this stuff. You have to put your Big Rocks first and fit the small stuff in around them.
- Have a goal in mind. I truly believe that the biggest reason I used to struggle with getting stuff done is that I didn’t have any sort of plan. I had no goals. Goals give you purpose. It wasn’t until I became committed to digging out of debt that I was able to actually start moving in the right direction. Part of my current problem is that I’ve recently achieved a bunch of big goals, but now have nothing planned for the future.
- Don’t take on too much. While it’s important to set goals, don’t take on too many tasks at once. I try to set just one or two major goals at a time. Any more and I find I can’t pursue any of them effectively. This year, my one goal is to lose 50 pounds. I’m on pace to do that. Why? Because I don’t have anything else on my schedule competing for time. This is my Big Rock.
- Don’t let failures deter you. This is huge. One of the reasons I used to talk so much without acting is that I was afraid of failure. I’m not sure where I learned to be afraid of defeat, but that’s the way I was. And when I did try something but failed, I’d give up. This is no way to get stuff done. Talkers let fear of failure keep them on the sideline; Doers overcome fear and move on, and when they fail, they simply try again.
- Don’t find reasons that something can’t be done; instead, find ways that something can be done. This is a pet peeve of mine. I hate when people come to me for advice, but when I give it, they tell me all of the reasons it won’t work for their circumstances. (This often happens when I suggest people take a second job to boost their income, for example.) One of the biggest difference between successful people and those who aren’t is that the successful don’t make excuses. If something looks difficult or impossible, they find ways to make it happen anyhow.
In the past five years, I’ve learned that I can do anything I set my mind to. Get out of debt? After I stopped talking and started doing, I got out of debt quicker than I thought possible. Losing 50 pounds? Well, I’m not there yet, but I’ve lost over 30 pounds since January 1st — but it didn’t happen until I stopped talking about it and started working hard to make it happen. Learning French? Well, there’s one where my talk outpaces my action right now, and it’s a perfect example of what I mean when I say actions speak louder than words. I don’t study my French as much as I should, so basically all I can do is count and tell you what color my clothes are. (”J’ai deux chemise noir.”)
For five years, my doing slowly increased until this past winter it reached a frenzied pace. I was burning myself out. I was writing and speaking and working and exercising and…well, it seemed like I never had a spare moment. This was the dark side of doing, and it’s what triggered my desire to downshift. It’s what led the pendulum swinging too far in the direction of Starcraft II.
Finding a Solution
So what’s the solution to my current problem? How can I stop playing computer games so much? How can I stop just being a Talker and become a Doer again? Well, making this public confession is a first step. But the thing that I think will really help is the “decision tree” I came up with the other day. Whenever the urge to game strikes, I’m going to ask myself the following questions:
- Have I exercised today?
- Are the house and yard tidy?
- Have I run all of my errands?
- Have I written and/or edited at least two articles for Get Rich Slowly?
- Does my inbox have fewer than 20 messages?
If I can answer “yes” to these five questions, then it’s okay to play Starcraft II or Carcassonne. But if I answer “no” to even one of these questions, I need to have the discipline to let the gaming go. I believe this will help me strike a balance. It’ll help me return to the world of Doing again. Because you know what? Life is a lot more fun as a Doer than a Talker.
Well, Book Week has come to a close at Get Rich Slowly, and while it was an interesting experiment, it’s not likely to happen again any time soon.
For one thing, I learned that doing book reviews takes more work than doing regular posts. To do a review, you have to read the book (sometimes twice), decide how it’s relevant to readers, and then write a normal article. And while an occasional book review is a nice change of pace, a week filled with them is boring, both for me and for the readers. So, no more Book Weeks at GRS.
Before we ease back into normal personal-finance topics, though, I thought it would be fun to discuss our favorite personal-finance books and magazines. As a starting point, here’s a recent comment from Deb:
I’d love a running list of your top 10 fave finance books. You could keep it fluid; there’s no reason it can’t change. I’m always on the hunt for helpful financial books! I’m most confused about self-directed investing vs. having a financial advisor. I tried to wrap my mind around Bernstein’s books and just couldn’t do it, which makes me concerned about trying to do investing on my own!
Deb’s comment is interesting for a couple of reasons.
- First, I like the idea of a “running list” of favorite finance books. Because she’s right: The list changes with time. As I read more, and as my own finance skills develop, different books will appeal to me.
- Second, she points out that what might be a good book for one person may not be good for another. I find William Bernstein’s books perfect for my personal knowledge and philosophy. I’m sure my wife would find them tedious. We each have different tastes and needs.
So, to end Book Week, I’ve drafted a list of my current top-ten finance books. These are the books I would want in a personal finance library if I started one today. Your list would be different (and I invite you to share it in the comments).
Here’s the list (in alphabetical order by title):
- All Your Worth. You know, I hated this book at first. And I’m still not a fan of how Elizabeth Warren allows personal responsibility off the hook. But I can’t deny that this book had a huge impact on helping me find a balanced financial life. The Balanced Money Formula has been a Big Deal for me, and that’s an idea that originated here. [My review.]
- The Complete Tightwad Gazette. This book is a monster — almost 1000 pages of ideas on how to live well for less. Amy Dacyczyn was the Queen of Cheap twenty years ago, and her legacy remains strong. If you want to know how to get the best deal on groceries, how to shop for clothes, and how to reuse anything, then pick up this book. It’s a treasure trove of ideas. [I have never reviewed this book, though I've mentioned it many times.]
- Debt is Slavery. Not many people have heard of this slim self-published book. That’s too bad. Michael Mihalik does a fantastic job of explaining a handful of basic financial concepts, and his advice is sound. This is the perfect book for a young adult who doesn’t know where to start. I wish I’d had access to this book when I was 20. [My review.]
- The Four Pillars of Investing. If I ever finish Jeremy Siegel’s Stocks for the Long Run, it may replace this book on my list. For now, though, The Four Pillars of Investing is my go-to book for reminding myself why I’ve adopted index funds as my main investment strategy. This book covers investment theory, history, and psychology, as well as the business of investing. [My review.]
- The Incredible Secret Money Machine. I know, I know: You’ve never heard of it. It may be long out of print, but The Incredible Secret Money Machine is a terrific book about building “money machines”, businesses or products that keep producing nickels year after year. I wish the author had the gumption to update this (it’s over 30 years old!) and reprint it for a new generation. [My review.]
- Work Less, Live More. Bob Clyatt’s book on early- and semi-retirement is one of my favorites. It’s sensible, comprehensive, and inspirational. He includes a big section on smart investing, and offers ideas for how to pursue your passions once you’ve stopped working full-time. [I've never reviewed this book, though I should.]
- You Can Negotiate Anything. It was a toss-up whether to include this or Negotiating Your Salary [my review]. The latter is outstanding, and I recommend it highly to anyone who is applying for a job or asking for a raise. In the end, though, I chose Herb Cohen’s book because it covers a wider range of topics. And it’s entertaining! [My review.]
- Your Money and Your Brain. I haven’t reviewed this at Get Rich Slowly yet, but it’s a great book. Jason Zweig covers the latest research into how money affects our behavior. There are a lot of interesting books out there about the psychology of personal finance, but this is the most comprehensive.
- Your Money or Your Life. Of course this is on my list. Your Money or Your Life has influenced thousands of people — including me. The book includes advice about getting out of debt, living frugally, and seeking financial independence. But what most of us remember is that it helped make money less abstract, helped us see how it was directly related to time. [A guest review from the first month of GRS back in 2006.]
- Your Money: The Missing Manual. Wait — I put my own book on the list? You bet. I wrote Your Money: The Missing Manual precisely to be the sort of book I needed when I was struggling with money. I think it’s a great resource, getting to the heart of a broad range of topics. Plus, I’ve done my best to point to other books and websites readers can use to get more information. If I could only have ten books in my personal-finance library, I’d want this to be one of them. (In fact, I refer to my own book almost daily. No joke. I guess that’s one of the luxuries of writing a book — you can just write the book you want!)
Are there other great books about money out there? Of course. A list of ten books can’t begin to be comprehensive. Over the past five years, I’ve read nearly 200 money manuals, and many of them contained great information. But today — on 10 September 2010 — these are the ten essential books I’d want in my personal finance library — if I could have only ten.
What are your essential personal-finance books? Which have you read and loved? Which have you read and hated? Are there books you’d recommend to people in specific circumstances?
Real Estate <b>News</b>: Existing Home Sales Rise - Developments - WSJ
Here is a look at real-estate news in today's WSJ.
'Fox <b>News</b> Sunday' to Host Kentucky Senate Debate - NYTimes.com
Jack Conway, Kentucky's attorney general and the Democratic candidate for Senate, and Rand Paul, the Republican nominee, have agreed to a live debate on "Fox News Sunday" on Oct. 3.
Rumour: Project Milo cancelled Xbox 360 <b>News</b> - Page 1 | Eurogamer.net
Read our Xbox 360 news of Rumour: Project Milo cancelled.
robert shumake
Real Estate <b>News</b>: Existing Home Sales Rise - Developments - WSJ
Here is a look at real-estate news in today's WSJ.
'Fox <b>News</b> Sunday' to Host Kentucky Senate Debate - NYTimes.com
Jack Conway, Kentucky's attorney general and the Democratic candidate for Senate, and Rand Paul, the Republican nominee, have agreed to a live debate on "Fox News Sunday" on Oct. 3.
Rumour: Project Milo cancelled Xbox 360 <b>News</b> - Page 1 | Eurogamer.net
Read our Xbox 360 news of Rumour: Project Milo cancelled.
People often ask me about the secret to this blog’s success. “How did you get so many readers?” they ask. “How can I do the same?”
My answer is similar to Anderson’s. There aren’t any secrets. Write and post great content on a regular basis for a long, long time. In short, you can’t just talk about building a great blog; you also have to put in the work. Simple, right? But it’s not easy.
(I appreciate the folks who come up to me and say, “You know, J.D., I don’t know how you do it. I tried to keep a blog for a few months. It was hard.” Yes, it is. It’s work, just like anything else.)
If there’s something you want to be or do, the best way to become that thing is to actually take steps toward it, to move in that direction. Don’t just talk about it, but do something. It doesn’t have to be a big thing. Just take a small step in the right direction every single day.
If you want to get out of debt, take small steps toward becoming debt-free. If you want to save for a trip to Africa, save a little bit at a time. If you want to get a new job, make moves in that direction. But take action. That’s the most important step.
Action Not Words
Of course, there’s more to getting stuff than just taking action. It’s one thing to say you want to become a commercial airline pilot and another to actually do it. Here are some of the things I learned as I made the move from Talker do Doer:
- Make time for the things you want to do. One of the keys to getting things done is setting aside time for the things you want to accomplish. You have to make time to get stuff done. As the Kevin J. Anderson article I mentioned above demonstrates, you don’t just become a best-selling author or an Olympic athlete. Talking doesn’t make it so. You have to carve out time to do this stuff. You have to put your Big Rocks first and fit the small stuff in around them.
- Have a goal in mind. I truly believe that the biggest reason I used to struggle with getting stuff done is that I didn’t have any sort of plan. I had no goals. Goals give you purpose. It wasn’t until I became committed to digging out of debt that I was able to actually start moving in the right direction. Part of my current problem is that I’ve recently achieved a bunch of big goals, but now have nothing planned for the future.
- Don’t take on too much. While it’s important to set goals, don’t take on too many tasks at once. I try to set just one or two major goals at a time. Any more and I find I can’t pursue any of them effectively. This year, my one goal is to lose 50 pounds. I’m on pace to do that. Why? Because I don’t have anything else on my schedule competing for time. This is my Big Rock.
- Don’t let failures deter you. This is huge. One of the reasons I used to talk so much without acting is that I was afraid of failure. I’m not sure where I learned to be afraid of defeat, but that’s the way I was. And when I did try something but failed, I’d give up. This is no way to get stuff done. Talkers let fear of failure keep them on the sideline; Doers overcome fear and move on, and when they fail, they simply try again.
- Don’t find reasons that something can’t be done; instead, find ways that something can be done. This is a pet peeve of mine. I hate when people come to me for advice, but when I give it, they tell me all of the reasons it won’t work for their circumstances. (This often happens when I suggest people take a second job to boost their income, for example.) One of the biggest difference between successful people and those who aren’t is that the successful don’t make excuses. If something looks difficult or impossible, they find ways to make it happen anyhow.
In the past five years, I’ve learned that I can do anything I set my mind to. Get out of debt? After I stopped talking and started doing, I got out of debt quicker than I thought possible. Losing 50 pounds? Well, I’m not there yet, but I’ve lost over 30 pounds since January 1st — but it didn’t happen until I stopped talking about it and started working hard to make it happen. Learning French? Well, there’s one where my talk outpaces my action right now, and it’s a perfect example of what I mean when I say actions speak louder than words. I don’t study my French as much as I should, so basically all I can do is count and tell you what color my clothes are. (”J’ai deux chemise noir.”)
For five years, my doing slowly increased until this past winter it reached a frenzied pace. I was burning myself out. I was writing and speaking and working and exercising and…well, it seemed like I never had a spare moment. This was the dark side of doing, and it’s what triggered my desire to downshift. It’s what led the pendulum swinging too far in the direction of Starcraft II.
Finding a Solution
So what’s the solution to my current problem? How can I stop playing computer games so much? How can I stop just being a Talker and become a Doer again? Well, making this public confession is a first step. But the thing that I think will really help is the “decision tree” I came up with the other day. Whenever the urge to game strikes, I’m going to ask myself the following questions:
- Have I exercised today?
- Are the house and yard tidy?
- Have I run all of my errands?
- Have I written and/or edited at least two articles for Get Rich Slowly?
- Does my inbox have fewer than 20 messages?
If I can answer “yes” to these five questions, then it’s okay to play Starcraft II or Carcassonne. But if I answer “no” to even one of these questions, I need to have the discipline to let the gaming go. I believe this will help me strike a balance. It’ll help me return to the world of Doing again. Because you know what? Life is a lot more fun as a Doer than a Talker.
Well, Book Week has come to a close at Get Rich Slowly, and while it was an interesting experiment, it’s not likely to happen again any time soon.
For one thing, I learned that doing book reviews takes more work than doing regular posts. To do a review, you have to read the book (sometimes twice), decide how it’s relevant to readers, and then write a normal article. And while an occasional book review is a nice change of pace, a week filled with them is boring, both for me and for the readers. So, no more Book Weeks at GRS.
Before we ease back into normal personal-finance topics, though, I thought it would be fun to discuss our favorite personal-finance books and magazines. As a starting point, here’s a recent comment from Deb:
I’d love a running list of your top 10 fave finance books. You could keep it fluid; there’s no reason it can’t change. I’m always on the hunt for helpful financial books! I’m most confused about self-directed investing vs. having a financial advisor. I tried to wrap my mind around Bernstein’s books and just couldn’t do it, which makes me concerned about trying to do investing on my own!
Deb’s comment is interesting for a couple of reasons.
- First, I like the idea of a “running list” of favorite finance books. Because she’s right: The list changes with time. As I read more, and as my own finance skills develop, different books will appeal to me.
- Second, she points out that what might be a good book for one person may not be good for another. I find William Bernstein’s books perfect for my personal knowledge and philosophy. I’m sure my wife would find them tedious. We each have different tastes and needs.
So, to end Book Week, I’ve drafted a list of my current top-ten finance books. These are the books I would want in a personal finance library if I started one today. Your list would be different (and I invite you to share it in the comments).
Here’s the list (in alphabetical order by title):
- All Your Worth. You know, I hated this book at first. And I’m still not a fan of how Elizabeth Warren allows personal responsibility off the hook. But I can’t deny that this book had a huge impact on helping me find a balanced financial life. The Balanced Money Formula has been a Big Deal for me, and that’s an idea that originated here. [My review.]
- The Complete Tightwad Gazette. This book is a monster — almost 1000 pages of ideas on how to live well for less. Amy Dacyczyn was the Queen of Cheap twenty years ago, and her legacy remains strong. If you want to know how to get the best deal on groceries, how to shop for clothes, and how to reuse anything, then pick up this book. It’s a treasure trove of ideas. [I have never reviewed this book, though I've mentioned it many times.]
- Debt is Slavery. Not many people have heard of this slim self-published book. That’s too bad. Michael Mihalik does a fantastic job of explaining a handful of basic financial concepts, and his advice is sound. This is the perfect book for a young adult who doesn’t know where to start. I wish I’d had access to this book when I was 20. [My review.]
- The Four Pillars of Investing. If I ever finish Jeremy Siegel’s Stocks for the Long Run, it may replace this book on my list. For now, though, The Four Pillars of Investing is my go-to book for reminding myself why I’ve adopted index funds as my main investment strategy. This book covers investment theory, history, and psychology, as well as the business of investing. [My review.]
- The Incredible Secret Money Machine. I know, I know: You’ve never heard of it. It may be long out of print, but The Incredible Secret Money Machine is a terrific book about building “money machines”, businesses or products that keep producing nickels year after year. I wish the author had the gumption to update this (it’s over 30 years old!) and reprint it for a new generation. [My review.]
- Work Less, Live More. Bob Clyatt’s book on early- and semi-retirement is one of my favorites. It’s sensible, comprehensive, and inspirational. He includes a big section on smart investing, and offers ideas for how to pursue your passions once you’ve stopped working full-time. [I've never reviewed this book, though I should.]
- You Can Negotiate Anything. It was a toss-up whether to include this or Negotiating Your Salary [my review]. The latter is outstanding, and I recommend it highly to anyone who is applying for a job or asking for a raise. In the end, though, I chose Herb Cohen’s book because it covers a wider range of topics. And it’s entertaining! [My review.]
- Your Money and Your Brain. I haven’t reviewed this at Get Rich Slowly yet, but it’s a great book. Jason Zweig covers the latest research into how money affects our behavior. There are a lot of interesting books out there about the psychology of personal finance, but this is the most comprehensive.
- Your Money or Your Life. Of course this is on my list. Your Money or Your Life has influenced thousands of people — including me. The book includes advice about getting out of debt, living frugally, and seeking financial independence. But what most of us remember is that it helped make money less abstract, helped us see how it was directly related to time. [A guest review from the first month of GRS back in 2006.]
- Your Money: The Missing Manual. Wait — I put my own book on the list? You bet. I wrote Your Money: The Missing Manual precisely to be the sort of book I needed when I was struggling with money. I think it’s a great resource, getting to the heart of a broad range of topics. Plus, I’ve done my best to point to other books and websites readers can use to get more information. If I could only have ten books in my personal-finance library, I’d want this to be one of them. (In fact, I refer to my own book almost daily. No joke. I guess that’s one of the luxuries of writing a book — you can just write the book you want!)
Are there other great books about money out there? Of course. A list of ten books can’t begin to be comprehensive. Over the past five years, I’ve read nearly 200 money manuals, and many of them contained great information. But today — on 10 September 2010 — these are the ten essential books I’d want in my personal finance library — if I could have only ten.
What are your essential personal-finance books? Which have you read and loved? Which have you read and hated? Are there books you’d recommend to people in specific circumstances?
robert shumake
Real Estate <b>News</b>: Existing Home Sales Rise - Developments - WSJ
Here is a look at real-estate news in today's WSJ.
'Fox <b>News</b> Sunday' to Host Kentucky Senate Debate - NYTimes.com
Jack Conway, Kentucky's attorney general and the Democratic candidate for Senate, and Rand Paul, the Republican nominee, have agreed to a live debate on "Fox News Sunday" on Oct. 3.
Rumour: Project Milo cancelled Xbox 360 <b>News</b> - Page 1 | Eurogamer.net
Read our Xbox 360 news of Rumour: Project Milo cancelled.
robert shumake
Real Estate <b>News</b>: Existing Home Sales Rise - Developments - WSJ
Here is a look at real-estate news in today's WSJ.
'Fox <b>News</b> Sunday' to Host Kentucky Senate Debate - NYTimes.com
Jack Conway, Kentucky's attorney general and the Democratic candidate for Senate, and Rand Paul, the Republican nominee, have agreed to a live debate on "Fox News Sunday" on Oct. 3.
Rumour: Project Milo cancelled Xbox 360 <b>News</b> - Page 1 | Eurogamer.net
Read our Xbox 360 news of Rumour: Project Milo cancelled.
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