Because I have been so lax in posting over the last “several” months, it has been a while since I posted a Friday Roundup. However, I am committed to getting back into the routine of posting at least 2-4 times a week so it seems only logical that I include a roundup post this week. So here they are, five really good posts that I read this week.

1. Daniel at Sweating The Big Stuff gives us a real life haggling experience
2. Frugal Dad shares the real secret to getting out of debt
3. Vered DeLeeuw helps us understand the importance of saying ‘No’ to our children
4. Jacob may just ruffle a few feathers with his discussion on why those who are unemployed don’t work
5. Over at One Money Design, Jason discusses the importance of a financial union with your spouse

Also, here are a few posts that mentioned one of our posts this week:

• Bible Money Matters mentioned us in his devotional post
• Lazy Man mentioned us in his 7 things he thinks post

Just when you thought it was safe to go back in the water…oh wait, that was a different movie. Well, the video clip below has nothing to do with sharks, but it’s almost as scary. Boy, am I glad I don’t live “across the pond”. The U.K. government seems to be ready to take the debt bull by the horns and are no longer willing to allow out-of-control spending be the norm.

If the U.S. government doesn’t do something do get our spending under control, we are going to be starring in our own economic horror show very soon. If you think the economy IS a horror show, then to borrow another very familiar line, “you ain’t seen nothing yet.”

I don’t know a lot about extreme sports, except that the people that compete in some of the events are either crazy or very brave. Either way they enjoy some very exciting opportunities. Wouldn’t it be great if there was a way to turn the “extreme sport” attitude into a “personal finance” attitude?

Well, now there is. Yahoo! Finance has an article detailing the extremes that some families go to to enjoy the financial freedom. The article lists eight secrets that guarantee a life free of financial bondage

1. Avoid Debt
2. Delay Gratification
3. Create Multiple Streams of Income
4. Live Below Your Means
5. Cut Down on Everyday Expenses
6. Track your spending
7. Live on one salary while bringing in two
8. Automate savings

Most of these ‘secrets’ are really just common sense. As a matter of fact we have talked a lot about most of these, and you don’t have to have a finance degree to be successful in implementing them into your everyday life.

Avoid Debt

We talk a lot about this one. If you have no debt, then the money that would be going to payments goes into savings and/or retirement.

Delay Gratification

Dave Ramsey recommends waiting at least 24 hours to determine if your really need or simply want an item. We recently did this with a washer and dryer. The washer was a return item listed for half price. We waited and when we went back to the store the washer was gone. A few days later we got the same washer/dryer set at another store for the same total price. The difference is both items were brand new.

Create Multiple Streams of Income

Most people wouldn’t think of picking up a part-time job, but for a period of time, it could be the engine that gets your debt payoff machine in gear. It doesn’t have to be a part-time job, maybe you work a few hours each week of overtime, or have a yard sale. I am sure we all have a few items that would look better sitting in someone else’s closet. A second job in an area that you enjoy is the perfect solution. Who knows, maybe you have a second career just waiting to be tapped.

Live Below Your Means

Larry Burkett always said it isn’t how much you make, it is how much you spend. If you can always spend less than you make and save the difference you will be in good financial shape.

Cut Down on Everyday Expenses

What are things you spend money on everyday? Lunch at work? Coffee at the local coffee house? Find those areas of your life and determine if you can do without them. Can you bring leftovers for lunch? Did you know that the local coffee house sells regular coffee for $2 a cup? You don’t have to spend $4-5 for coffee.

Track your spending

If you have never tracked your spending for a month, I promise you will be amazed at some of the ways you spend money. When you realized just where your money is going you will be more likely to say no to some of those ‘buying opportunities’. Learning to say no to some of those everyday expenses will give you extra money for savings or paying off debt.

Live on one salary while bringing in two

Ok, this only works if you either have two jobs, or you have two people in the house that are both working. Most homes in the U.S. now have both parents working, and they still have trouble making ends meet. If you can adjust your lifestyle to live on only one income you can accomplish all of your financial goals…any you will be considered really weird!

Automate savings

With direct deposit most people never even see their paychecks anymore. If you can set up automated money transfers, you can eliminate the temptation of spending money instead of saving it. We have our Roth IRA contributions and college savings contributions automatically deducted from our checking account each month and I never even know the money was there.

There you have it. Eight secrets that will take your finances to the extreme. Most of it is common sense, but all of it is up to you. Only you can make the decision to take control of your finances. Don’t blame your situation or your environment, you can choose to change the direction you are heading or you can choose to keep doing what you are doing.

If you have been visiting this site for any length of time, you know that I often link to other sites and comment on posts from other bloggers. One of the benefits of the blogosphere is getting to read content from a lot of different points of view. Another benefit as an author is getting motivation from others that enjoy doing the same sort of thing.

Financial Samurai created this challenge/idea to get different blogs into the top 200,000 blogs in the world (as ranked by the Alexa system). The higher ranking ensures more traffic to a particular site, and therefore a better community of comments and opportunity to help others. This post is to announce that I have joined the challenge and am committed to moving my rank up so that I am included in the top 200,000 blogs in the world.

I say with great humility that I have a long way to go. As of today I am sitting at 629,450. Hopefully, with continued visits from those that are currently subscribed to this site, and some attention from other Yakezie members that number will change quickly. I will keep you informed as I climb in the rankings.

Often you hear someone say something or you read something and you think, “Well, of course. Who didn’t know that?” You know what I’m talking about. Those things that are so simple that everyone should already be doing them. For example, an article published over at MSN Money entitled, The simple way to get rich: Pay yourself first. The article was based on a very simple idea; if you want to save for the future, you have to start saving now. Pretty simple idea.

However, simple things aren’t always easy, right? In order to save, you have to have enough money to pay your bills, meet the needs of everyday living and then whatever is left over, if there is anything leftover, can be moved into your savings account…well, not really. For some people, saving is easy (and simple). They are just wired to want to save for the future. That is how I am. I like the idea of having money sitting there for emergencies or for major purchases. Others find saving difficult, because there are a lot of things that they would rather spend money on today instead of saving for the future. So if you fall into the second group, how do you overcome the difficulty of finding money to save each month?

Well, the MSN article has an answer that simplifies the difficult part of saving. Are you ready? Treat saving like a bill. That’s right. If you have trouble finding the extra money required to save, then set your savings goal and treat it like a bill. Or better yet, set up your paycheck so that your savings are automatically deposited into your savings account each pay cycle. Make sure that getting the money out of your savings account isn’t too easy, otherwise, you will be tempted to spend it on things that aren’t part of your goals.

The most important thing to remember is that it is not too late too start saving. You are saving for the future, and today is the present, so if you are not saving already, start saving today. By thinking about the reasons you are saving, (i.e., college, car replacement, house down payment, etc) you will be able to overcome the desire to impulse buy when you see something that you “just have to have”. Stay focused on the goal and you will soon begin to see your savings grow.

“Being rich” appears to have become the replacement for what used to be called the American Dream. Unfortunately, too many people define “being rich” as having more stuff than their neighbors. They are focusing on material things and often overlook what is truly important. An article at Yahoo! Finance looks at questions that children sometime ask regarding the families financial situation and in particular how you should respond if your child asks, “are we rich?”

Being Truly Rich

The Bible has a lot to say about finances and possessions. Depending on who you ask, the Bible has between 800 and 2000+ verses dealing with this subject. One passage that I like is I Timothy 6:6-8.

⁶But godliness with contentment is great gain. ⁷ For we brought nothing into this world, and it is certain we can carry nothing out. ⁸ And having food and raiment let us be therewith content.

(1 Timothy 6:6-8 King James Version) [emphasis mine]

According to the Bible, living a life of godliness where we are content with the things that we have received of God is the definition of great gain or “being rich”.

How to answer your children

The article does give some interesting ideas on how you can help your young children understand the relationship of money or activities relative to your financial situation. However, even more important than the verbal answers we might use to help our children on the road to financial understanding, are the things we do.

We often hear (or say), that actions speak louder than words. So when we are trying to help our children understand what being rich really is, make sure your own actions back up what you are saying. Does it really matter that you kids have a PS3 and an XBox 360, but you have to work 60-70 hours a week to be able to buy these types of items? Does it matter that your teenager has a brand new car, if you miss their after school activities?

New things don’t always say “I love you”, but taking time to focus on your children’s needs does. Sacrificing things that you want to do, to attend a school concert, a sporting event or attending church as a family, is a great way to let your actions remind your kids just how rich they really are.