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Black Friday and Cyber Monday November 26, 2007

Posted by pf in Expenses and Savings.
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All of the financial news outlets are buzzing about the strong traffic for retailers this past weekend and hoping for record breaking online sales today.  As far as I remember, I don’t think I have ever participated in this shopping hysteria.  In fact, as I began writing this, I thought of one particular time I had, but then confirmed with my wife that the sale I was thinking of was after Christmas.  It was a few months before we would be moving into our new house and we wanted to buy a Christmas tree on sale to have it for next year.  We got up at crazy o’clock in the morning to grab one of the trees that would be on sale at one of those stores where the only time you visit are when you are looking for holiday stuff or swimming pool gear (you know what I’m talking about).



Can’t Wait for My Kids to Grow Up Financially November 20, 2007

Posted by pf in Expenses and Savings, Odyssey, Uncategorized.

This is a bit silly, but lately I have been chomping at the bit for my kids to get old enough so I may talk with them about personal finance.  I’ve had some very cursory discussions with my oldest daughter (7) about how banks work, etc.  I even asked her if she would be interested in opening an account (no thanks, Dad).  Personally, I was quite excited at the prospect and secretly hoped her eyes would light up at the suggestion. 

What kind of twisted aspiration is this? 

Make Your Finances Six Sigma! November 20, 2007

Posted by pf in Expenses and Savings, Goals, Uncategorized.
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Six Sigma excerpts from Wikipedia:

Six Sigma is a set of practices originally developed by Motorola to systematically improve processes by eliminating defects.  The term “Six Sigma” refers to the ability of highly capable processes to produce output within specification.  In particular, processes that operate with six sigma quality produce at defect levels below 3.4 defects per one million opportunities.  Six Sigma’s implicit goal is to improve all processes to that level of quality or better.

Some of you may be familiar with Six Sigma in your workplace or may have at least heard of it.  In general, the idea of of Six Sigma is to reduce defects / variation in your process in order to create a more consistent output or result.  Achieving Six Sigma is extremely difficult…many processes don’t even make 5 sigma!  One of the most common approaches for Six Sigma is called the DMAIC method (Define, Measure, Analyze, Improve, Control).  You can apply this approach to your personal finances in order to reduce defects in your personal finance “process”