Long Weekend Update

credit: freedigitalphotos.net by Nuttakit

credit: freedigitalphotos.net by Nuttakit


It feels like forever since there was a long weekend. Labor Day weekend unofficially marks the end of summer and this summer flew by so quickly. And there were of course big changes in the Living Rich Cheaply household this summer: new baby boy and my wife’s new job.

Here are the some articles I enjoyed from the past week:

DC from Young Adult Money: 5 of My Small Business and Website Failures

This made me reminisce about the website that my friend and I started back in 2006. Yes, 2006…many of you guys were probably looking at college brochures or getting ready for junior prom. We made about $24 from google adsense which we could not get because it was below the minimum payout. But in early 2013, they went me a letter saying they were releasing the money, probably because it’s been so long and the website had been defunct since 2007. That was one of the things that inspired me to start this blog.

We started a forum and figured that once it got some members, it would run by itself. The people on the forum would create “content” by themselves. I did write a few articles though. My friend who was responsible for the technical side of the job built the site and tried to get some links. We hired a service to post on the forum and I assumed multiple identities on that forum as well. Ahhh…fun times!

We also wanted to start a site that focused on Fantasy Football (who doesn’t love fantasy football?) And we opened an eBay store but never sold anything. Actually it is something that I might consider trying again, but I won’t be using an eBay store.

I just finished reading The Single Moms Guide to Starting a Side Business by Alexa from Single Moms Income. I am not a single mom, but the book provides valuable information and a great guide for anyone who is interested in starting a side business. If only I had Alexa’s blueprint back then, I think my friend and I would have had a much better chance of success.

Free Money Minute: What is a 529 Plan?

We welcomed a beautiful baby boy to our family in July, but I had already opened a 529 plan for him before he arrived! Now I have to change the beneficiary. Check out this article to learn more about the 529 plan. Another interesting thing of note was in the comments, the blogger from Free Money Minute mentioned that he was thinking about contributing more to his Roth IRA plan and if his retirement plan is set, he would use some of those funds for college. This got me thinking about a conversation I had with Matt from Mom and Dad Money in the comments section of Roth IRA as an Emergency Fund-Is it a Good Idea?, where I contemplated saving in a Roth IRA for a goal other than retirement. We have different feelings about doing this and it is something I will have to explore. I definitely don’t think that it’s a good idea for everybody, but it may be for me. Hopefully, I will explain my perspective in a future post.

Journey to Saving: Two Sides: Car Accident Edition

I hate injustice and when E.M. wrote that her boyfriend’s parked car was hit and the lady who hit the car blamed him…that just made my blood boil! Need I remind you that it was a parked car?

Cash Rebel
shared a pretty cool comic. It is about the life of Bill Watterson, the creator of Calvin and Hobbes. It starts off with this quote: “Creating a life that reflects your values and satisfies your soul is a rare achievement.” I just shared the comic with my wife. It is very touching and a must read.

Enjoy your Labor Day Weekend!

29 thoughts on “Long Weekend Update

    1. livingrichcheaply@gmail.com Post author

      Thanks Daisy! Yea I started the education plan early but haven’t set up a monthly contribution plan which is on my to-do list. Have a great weekend.

      Reply
    1. livingrichcheaply@gmail.com Post author

      No problem. It is always good not having to wake up early to go to work. Hope you guys have a great one too.

      Reply
  1. Pingback: Still On The Fence About Quitting Your 9-5 To Be The Person You Know Inside You Need To Be? Then Read On… | The Joy Of Simple

    1. livingrichcheaply@gmail.com Post author

      Yes it is an incredible comic. Definitely check out the book for some more ideas on side hustles and to improve on your current ones… Enjoy the rest of your weekend.

      Reply
    1. livingrichcheaply@gmail.com Post author

      Well, I can’t compare to the latest blog project you had where you were able to sell for a good amount. So at least you’ve made progress and have learned more about web design/SEO etc, etc…I still have a lot to learn.

      Reply
    1. livingrichcheaply@gmail.com Post author

      No problem. Yea hopefully this one will be more successful. Well I actually do like the interactions with my fellow bloggers so it is already a success in that sense. With the forum…there were very few “real” people so that was no fun. Enjoy your vacation!

      Reply
    1. livingrichcheaply@gmail.com Post author

      No problem…I really enjoyed and will have to implement what I learned. Hope you had a great weekend as well.

      Reply
    1. livingrichcheaply@gmail.com Post author

      I definitely think that contributing to my retirement accounts takes priority over a 529…but as I don’t currently max out my accounts, that would mean I’m contributing nothing to the 529. I think I’ll contribute a small amount monthly and increase if or when I max out my retirement accounts. Good point about financial aid looking at 529…I’ve been meaning to look into that even though it is so far off. I think that 529 plan is counted but it is not a big percentage when determining aid.

      Reply
    1. livingrichcheaply@gmail.com Post author

      Haha…man you just made me feel old. But pretty amazing that you already started a website at such a young age. Good for you!

      Reply
  2. Brad @ RichmondSavers.com

    Thanks for the link to the Young Adult Money article — that was fascinating. Like you two, I started up some websites a handful of years ago and pretty much failed miserably. I actually had some pretty good success for about 3 whole months (sad, I know) until I got smacked down by Google; that was the price I paid for following some of those “SEO gurus.”

    I had this great soccer site that Google really valued highly and it just got decimated by these ‘black-hat’ techniques. I know it was all my fault, but it still hurt quite a bit…

    After reading the 4-Hour Workweek I started up a few drop ship sites, which were really fun (it still amazes me that someone would come to my site and drop $300+ on a fire pit or a firewood rack), but they also got devalued by Google.

    I just didn’t have the passion for these sites, and that’s why I started up my PF site. I doubt it’ll ever make $1, but I at least enjoy it!
    Brad @ RichmondSavers.com recently posted…Save at Least 20% of your Income to Live Within your MeansMy Profile

    Reply
    1. livingrichcheaply@gmail.com Post author

      Wow Brad, you have a lot of experience in that area. I honestly know next to nothing about SEO and “black-hat” techniques…I’ve heard the terms and have a general idea about them, but haven’t had the time to really learn about them. I should though. I also was interested in the drop ship sites…it like a good idea. I can see how not enjoying what you’re doing when working on sites would make it not worth it. I’ve made nothing on this blog, but I do truly enjoy interacting with fellow bloggers who I’ve learned a lot from.

      Reply
    1. livingrichcheaply@gmail.com Post author

      You’re welcome! Yes, I know…it boggles the mind that you can blame a parked car for an accident.

      Reply
    1. livingrichcheaply@gmail.com Post author

      Yea I played Fantasy Football in the early 90s…and this was before the internet! I barely gave it a go and by 2006, it was already a big deal.

      Reply

Leave a Reply

Your email address will not be published. Required fields are marked *

CommentLuv badge