Spring Survey Assignment

Been away so long I hardly knew the place
Gee, it’s good to be back home
Leave it till tomorrow to unpack my case
Honey disconnect the phone
I’m back in the USSR
You don’t know how lucky you are, boy
Back in the US
Back in the US
Back in the USSR

Just as my African survey in February had a theme song (Toto – Africa, which is coincidentally one of the greatest karaoke performances of my life), it looks like I will be listening to the Beatles’ Back in the USSR to gear up for this trip. My itinerary is still being finalized, but here are the tentative dates for my spring survey:

23 Apr: Boston to Frankfurt to Minsk
24 Apr – 30 Apr: Minsk, Belarus
1 May – 8 May: Kiev, Ukraine (transfer in Frankfurt)
9 May – 16 May: Bucharest, Romania (transfer in Munich)
17 May – 25 May: Tirana, Albania
26 May: Tirana to Munich to Boston

Ok, so not all my cities are part of the former USSR, but considering I spent some time in the Soviet hinterland last November, I’m excited to go back! If any of my readers happen to be in either of these four cities, please let me know, as I would be happy to meet up.

In other news:

  • I just started Ramit Sethi’s new book, I Will Teach You To Be Rich – a 6-week program designed to increase the reader’s financial literacy. So far, so good.
  • I also write for a non-profit/technology blog called Twiver. Check out my latest post called “Giving Away $90,000 Through Twitter.
  • I rediscovered my love for Trader Joes.

Mapping Your Financial Infrastructure

mind-mapping

Mapping your financial infrastructure is a mundane task. It’s not exciting. It’s not likely to save you big bucks. Instead, it’s the sort of Big Picture exercise that each of us ought to perform from time-to-time just to be sure that everything’s working the way we think it is. If you do this every year or two, you just might catch some inefficiencies that need to be corrected. I did.

J.D. Roth – GetRichSlowly.org

Over the last year, my approach to personal finance has become much more deliberate. Through a college class, I was exposed to a wide range of fundamental principles, principles that, at 22 years old, I had never really thought about before. Buzzwords like dollar-cost averaging, compound interest, and amortization now make sense. In an effort to continue my education and ultimately optimize my finances, I subscribed to two personal finance blogs – one focused on finance for post-college graduates and entrepreneurs (I Will Teach You To Be Rich), the other focused on sensible core philosophies (Get Rich Slowly).

This morning, I read a post by J.D. Roth of Get Rich Slowly titled My Financial Infrastructure. J.D. writes about how important it is to look at your big financial picture every couple of years – mapping out how your money is handled and filtered is the first step in optimization. Below is my own attempt at financial mapping.

Personal Checking

I use Bank of America as my personal checking account. Through my employer I have a direct deposit into this account, and any cash I withdraw or check that I write will come from this pool of money. I have used BoA’s Bill Pay to automate all of the following bills/payments:

  • Bill: Apartment rent, once every other month
  • Bill: Comcast Internet and Cable, once a month
  • Bill: BoA WorldPoints credit card, once a month
  • Transfer: to ING Savings account, once a month
  • Transfer: to AmericanFunds investment, once a month
  • Bill: Student loan #1
  • Bill: Student loan #2

Credit Cards

For work, I use a corporate AMEX. All of my statements and reward points are available online, and I sign on a few times a year to do my expense report. My personal card is a Bank of America World Points Visa, and both this card and my BoA checking account are synced together into one online portal. I pay off my credit card in full every month (I am fortunate to be able to do so), and each year I get 50% more reward points for maintaining my BoA checking account. I also have a CitiBank credit card that I used as a backup card during college. The account is still open, but I haven’t made any charges on it in over a year. Hmm. I should probably call them up to see if canceling the card is a good idea – will that affect my credit score? Note:  at some point I will be reevaluating my choice in credit cards, as I’m sure there are better offers out there. For now, I am happy with BoA as my primary card.

Savings

I use ING Direct for my savings account. Their Orange Savings account has two features that I find attractive. 1) They offer competitive interest rates and 2) You can create and label multiple savings accounts on one screen. For instance, I have one “emergency fund” account that I put money into in case of – you guessed it – an emergency, and another one for a climbing trip I plan on taking in the next couple of years. Setting up targeted accounts is incredibly easy. For a fantastic list of other high-interest savings accounts, check out this page.

Investments

Through my employer I have a 401K account setup with Nationwide. My current plan is to invest 13.3% of my gross monthly income into my 401K. I’m all about those tax-free dollars! I also invest monthly into two long-term mutual funds through AmericanFunds. Because I invest at regular intervals, I am taking advantage of dollar-cost-averaging – hopefully I can ride out the economic storm and see some growth over the next 10, 20, 30 years. at this point in time, I do not own shares of single stock.

Student Loans

I have one small loan through the Missouri State Government at a non-variable 6.8% interest rate, and one much larger loan through SunTrust Bank at a variable interest rate, which is now at 2.75%. I am set up to pay back both loans in 10 years, and I automatically have the payments deducted each month from my checking account. As long as the market generates historical returns of 8-10%, my money is more valuable in the market. Each month I make the minimum payment and no more. For peace of mind, though, I may try to pay back the 6.8% loan in the next couple of years.

Syncing It All Together

I use Mint.com for my financial snapshot. Mint aggregates all my online accounts into one portal. Their usability is strong, and I foresee using Mint much more regularly as my finances become more complicated in the future. For now, I have them send me weekly updates via Email.

Those are my finances in a nutshell. Hope this post was more useful than dull! How do you handle your money?

(image from Flickr user sirwiseowl)

Hacking Your 24-Hour Day

clockOn January 1st, I outlined my goals for 2009 in a blog post titled, “Make concrete goals, not sweeping resolutions.” Inspired by a few articles I came across during the latter half of 2008, I created 7 tasks to complete throughout the year. It’s almost the end of March, and while my goals are progressing – I will write a post about that in a few weeks – I sometimes find it difficult to make time for these 7 projects.

That’s always been an issue with me – time. In high school, procrastination and I, we were close friends. During my second semester of college, I spread myself so thin that one night, I had a panic attack (luckily my first and only). I realized at that point that I needed to cut back on a few activities and reevaluate how I manage time. Since then, I have always been fascinated with how people choose to fill/use their days.

Some people are virtuosos at juggling many different projects simultaneously. Entire books, like The 7 Habits of Highly Effective People, explore the getting-things-done philosophy, and blogs-upon-blogs offer various tips and tricks on productivity, optimization, efficiency and the like. Tim Ferriss, Leo Babauta, and Jay White are some great places to get started.

So recently I started thinking about where I could improve my time management. Because I am out of the country about 5 months in a given year, I am most interested in optimizing my stateside time. If you find yourself looking for extra time to get something done, then try out this simple, two-step exercise.

1. Start by breaking down your 24-hour day
I used the following 5 categories, as I like to keep my metrics simple. Too many numbers and I begin to lose focus. Feel free to use your own categories.

  • Sleep
  • Work
  • Bathroom Time
  • Exercise
  • Food

2. Allocate your 24 hours, look at the remaining time
Obviously these categories will not take the same amount of time every day – after all, we aren’t drones – but I tried to allocate my hours as accurately as possible for an average day.

  • Sleep – 8 hours
  • Work – 9 hours (everything that takes place in the office, including 1 hour of commuting)
  • Bathroom Time – 30 minutes (at home)
  • Exercise – 1.5 hours
  • Food – 1 hour

Total allocated hours = 20 hours
Total unallocated hours = 4 hours

Well, there you have it. I just discovered that given my current lifestyle, I have 4 hours of getting-things-done time every day. That’s a lot! Granted, these numbers are not exact, and neither are my categories, but hopefully, by deconstructing your 24-hour day through this exercise, you will discover how precious those unallocated hours are. Remove your daily obligations, and you are presented with personal time – just like that. In my life right now, I find myself using these hours to chip away at my 7 resolutions and to have fun and relax with friends. How do you use yours?

Is this exercise helpful? How would you have done it differently?

A Cinematic Sampling of Africa (and Frankfurt)

Note: if you are viewing this in an email or RSS, then you won’t be able to view the videos. Hop on over to the9to5alternative.com to see! Any problems please let me know.

5 videos, totaling 3 minutes and 26 seconds of the most insane footage that you’ve ever seen!

Not really. To be honest, I’m a horrible videographer. In many of my home movies, I have this strange, Blair Witch-esque obsession where I position the camera under my chin. I promise, I’m not that into myself – I just need to think a little more about how a short clip should be structured. Cheers to better video clips in the future!

1. Entering Germany for the first time. With a 6 hour layover, I hopped on the train into downtown Frankfurt for a little tour and a fierce hunt for food. Unfortunate for me – no food.

2. Taken on the drive from Lagos to Ibadan, Nigeria. Shola, my driver, talked so loudly that I often had to finger plug my ears. He is speaking to his sister in Yerba.

3. After a first day of surveying in Ibadan. I took a quick panoramic shot of the Ring Road traffic congestion.

4. In Kakum National Park in Accra, Ghana. Welcome to the rainforest canopy tour – what an amazing morning.

5. On the trail, I ran into a coconut and palm wine stand. After this guy chopped my up a sweet coconut, I downed enough palm wine to render me tipsy for the remainder of the hike. Nice!

10 Ridiculously Offbeat Destinations

Confession – I like to travel. I dream of distant lands, faraway places, bustling metropolises that vibrate to their own special, unique cultural beats. The world is a big place, and from the fiery Darvaza Crater in Turkmenistan to the remote Tiger’s Nest Monastery in Bhutan, I have amassed a hefty list of Places-To-Visit in my lifetime. Below are a few of the wilder ones.

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tristan-da-cunha

Tristan da Cunha Island
The loneliest island on Earth. With the nearest land mass 2430km away, Tristan da Cunha is as remote as it gets – so remote that cartographers cannot draw it on most maps.  The island, a mountainous and rocky volcanic outcropping, supports 270-odd British citizens. One telephone, one fax machine, and one mail delivery each year from the RMS St. Helena a year, the only mail ship in the world.

darvaza

Darvaza Crater – Darvaza, Turkmenistan
As locals say, the door to hell. It was 1971, and a group of Soviet geologists discovered an underground cavern in central Turkmenistan that was rich in natural gas. Unfortunately, the cavern collapsed, destroying the drilling rig and creating a large, yawning hole with a 60 meter diameter. More than 30 years later, the pit still burns, creating an apocalyptic landscape that, after dusk, attracts thousands of spiders from around the desert. I’m sure my mom would dig that.

manikarnika-ghat

Manikarnika Ghat – Varanasi, India
In 2006, I was fortunate enough to visit Varanasi, one of the oldest continually inhabited cities in the world. According to Hindu mythology, Varanasi was founded by the Hindu deity Lord Shiva, and those that are cremated at the Manikarnika Ghat are supposedly granted instant nirvana. The city draws over one million pilgrims a year. The funeral pyres dominate the “burning ghat”, ghat meaning the flight of steps leading down to the Ganges River, and surrounding markets sell all the essentials required for a proper cremation – wood, ghee, clothing, offerings to deities, etc. It’s a wild experience.

namib-desert

Namib Desert – outside of Swakopmund, Namibia
Considered one of the oldest deserts in the world, the Namib Desert boasts some of the largest sand dunes in the world, making the location a sandboarder’s paradise. A paradise without foliage of course. The timeless and shifting dunes reach heights of over 300 meter, sure to challenge even the most skilled riders. Sounds fun!

blue-lagoon

Blue Lagoon – Grindavík, Iceland
One of the most frequented destinations in Iceland, the Blue Lagoon is a geothermal spa with an average water temperature of just over 100°F. Toasty. The superheated water is sourced near active lava flow and after being routed through turbines to generate electricity, the water is fed into the lagoon. The water is reputed to have medicinal properties, and bathers are required to adhere to a strict hygienic code, showering both before and after bathing. Don’t forget your towel.

atlantic-road

Atlantic Road – Norway (Atlanterhavsveien)
The Atlanterhavsveien, or Atlantic Road, is the second-most visited scenic road in Norway (after the Trollstigen), stretching 5 miles and connecting the island of Averøy to the mainland city of Eide. The road spans several small islands, landfills, skerries and eight separate bridges. Both tourists and locals can often be seen fishing for saltwater fish, mostly cod, directly from the road. Drivers beware. Fun fact – while the road was being built from 1983 to 1989, no less than 12 hurricanes hindered construction.

wadi-us-salaam

Wadi-us-Salaam – Najaf, Iraq
Wadi-us-Salaam is undoubtedly the largest Islamic cemetery in the world, home to the graves of many Prophets and revered followers of Islam. Located in Najaf, Iraq, one of Shiite Muslim’s holiest cities, nearly all Shi’as in Iraq request burial in Wadi-us-Salaam. Approximately 5 million bodies are already buried throughout the 1500 acre grounds, so personal space may be limited.

tree-of-life

“Tree of life” – Tsavo National Park, Kenya
Tsavo National Park was declared protected territory in 1948 and covers 8,200 square miles in southeastern Kenya. This acacia tree – deemed the “tree of life” – stands solo in the wild, thorny expanse of sun-blasted savanna. One can only imagine the paltry refuge it’s shade provides to animals seeking to escape equatorial rays. The image comes from Yann Arthus-Bertrand, a prolific French artist renowned for his aerial photography. What a shot, yea?

tigers-nest

Taktshang Monastery – Paro Valley, Bhutan
Talk about remote – Taktshang Monastery, or Tiger’s Nest Monastery, is located several hours away from Bhutan’s only airport. While you can walk close enough to snap some photos, you probably won’t be granted access inside. Erected hundreds of years ago on the side of a 10,000ft cliff, Tiger’s Nest is positioned precariously on a ledge 2,000ft above the valley floor. As outlined by national law, one cannot travel around Bhutan without a guide, and many tourists shy away from the daily costs associated with following these rules.

grand-bazaar

Grand Bazaar – Tehran, Iran
The Grand Bazaar is the world’s largest bazaar, with many corridors ranging over 10km in length. Despite historical significance throughout the 19th century as a hubbub of banks, mosques, financiers and guesthouses, most of the bazaar was constructed rather recently. In fact, you could call the Grand Bazaar one of the newest in the Middle East. Iranians trade, among other goods, precious metals, spices, paper, carpets, and a wide variety of modern products. Locked and guarded at night, the bazaar experiences peak traffic at midday and between 5pm-7pm in the early evening. Haggling is encouraged!

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Which places would you like visit?

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