Maximizing Value, The Opposite of Earn More Spend Less

Never having seen the show, a co-worker was describing the premise of Pawn Stars. Personally, there’s always been something sketchy about pawn shops since the operations seem like barely legal fences. Anyway, that’s neither here nor there, so back to the show…

Some poor sucker walks in wanting to sell whatever item they’re trying to rid themselves of. First thing the owner asks is what they think the item’s worth. Once the owner knows that number, the game begins.

Apparently the replies range from the colorful to the mundane, but they all convey the same message – “there’s NO way it’s worth THAT!” Even if the owner hasn’t a clue as to the real value, they’ll become temporary experts to close the deal.

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Can Shrinking Yields Be a Good Sign?

Over the past year, how many times did you log into your accounts, turn on the TV, or read the newspaper – only to find your interest yield as gone down?

For most people, this can be a disheartening situation since it means less money in your pocket.

But what if it meant the opposite?

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Which Way Are You Outsourcing?

Over at MBA Briefs, David’s hard at work honing the site’s focus. An interesting guy with a military & business background, he sent me a quick note mentioning how he plans to look more at personal finance as a business. I really liked the idea, and have been thinking about how many lessons could be taken from successful organizations.

One of his more recent articles, David explores the idea of “outsourcing” our personal lives in an effort to show that doing everything ourselves isn’t always in our best interest.

Well, I agree… but to an extent. Ever since reading that article, I’ve been thinking about what we outsource.

Then it hit me. It depends on WHAT you are outsourcing.

Outsourcing can mean a lot of things. Pictures are worth a thousand words, so I made a diagram to visually explain what I’m getting at.

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