A witness was able to put out the flames using an extinguisher, therefore saving Mitchell’s life. He woke up in atrocious pain in the burn victim unit of San Francisco General Hospital. He had second, third and fourth degree burns on 65% of his body. Fourth degree burns are ones so severe that the bone has been consumed by the fire. His face was burned off, and his hands were irreparably destroyed. Doctors didn’t know at first if he was going to make it or not.

We can only imagine the kind of excruciating, incessant pain he experienced, as doctors agree that the pain associated with this kind of burn is essentially the highest level humans can perceive. Yet, he was unusually motivated to keep going and embrace life. The first thing he said to a surgeon upon learning that most of his hands were gone was, “this is gonna really screw up my pool game”. His courage and determination were clear from the get-go.

After 4 months he managed to get out of the hospital. Disfigured, his return back to city life was far from pleasant. The constant stares and reactions lead him to decide to move out of town. He relocated to the historic town of Crested Butte, Colorado where his upbeat spirit lead him to quickly make many new friends. It didn’t take much longer for Mitchell to co-found a multi-million dollar business, buy a beautiful Victorian house, obtain a pilot’s license and even own an airplane.

Despite the huge challenges, his courage and proactive attitude enabled him to live a successful, fulfilling life. Unfortunately that wasn’t the end of the story though. One winter’s day he set off to fly his airplane with some friends. Ice on the wings made taking off very difficult, and the plane essentially tumbled to the ground. Everyone managed to get out of the plane immediately, except Mitchell. His first thought was that his feet were stuck. Then he couldn’t feel his legs. His back suddenly started to hurt sharply. When the ambulance arrived he was rushed to the hospital where he would later learn that his spine was broken and that he would never be able to walk again.

This man had experienced his second life-altering accident, which combined with the first one, left him paralyzed from the waste down, in a wheelchair, disfigured and with good part of his hands missing. Try to imagine the emotional state of this person in the face of such unbelievable adversity. Once again Mitchell worked hard to continue his pursuit of life. His incredible attitude is summarized in a quote from his time in the hospital: “Before I was paralyzed there were 10,000 things I could do; now there are 9,000. I can either dwell on the 1,000 I’ve lost or focus on the 9,000 I have left.”.

While at the hospital he rushed to get out because he learned about a mining company that wanted to dig a huge, ugly hole in the beautiful mountain that watches over his town. In order to stop them he decided to run for mayor of the city, where he would eventually serve for two consecutive terms. Eventually he was able to convince them that drilling the mountain wasn’t such a great idea after all.

He’s fond of saying, “It’s not what happens to you, it’s what you do about it” (also the title of his book). We can learn so much from these words especially when the reminder comes from a man who lived them to the extreme. W Mitchell is a living example of what will power, courage and determination can achieve, against all odds. His body may be in a wheelchair, but he’s clearly free of mental wheelchairs. I find his story extremely inspiring and it reminds me of how your current condition only partially affects the outcome of your life. What truly matters is your attitude.

Today he owns several successful businesses and is an exceptional motivational speaker, who’s gathered worldwide acclaim. He even enjoys adventurous actives such as water rafting and skydiving. After all there are still 9,000 things left to do.

No matter how smart, skillful or prepared we are, we are human and we’ll always fail sooner or later. What counts though is the ability to learn from our mistakes and get back in the game again. This attitude sets apart those who succeed from those who never become what they’d like to be.

I found the following two videos about famous failures to be quite well made and I encourage you to watch them. The greater the odds, the harder the challenges, the higher your satisfaction will be.

1. Buxfer

Description: Easy to use and with a clean UI, Buxfer allows you to easily track your income and expenses, and set up budgets. Unlike other similar sites, you don’t have to provide your online banking credentials if you don’t want to. It also has support for Google Gears to work offline and store your financial information locally.
Why: Stress free personal finance management.
Honorable mention: mint.com
URL: buxfer.com

2. Remember the milk

Description: A feature-rich task management application full of bells and whistles, including support for tagging, priority, scheduling, sharing, and so on. It works very well for those following the principles behind Getting Things Done (GTD). Despite its many features, the UI is clean, fast and well thought-out, so it’s fairly easy to make it work for you. Several keyboard shortcuts are available, minimizing the amount of time you need to spend entering data. It integrates with Gmail and Google Calendar as well.
Why: Smart TODO management.
Honorable mention: tadalist.com
URL: rememberthemilk.com

3. RescueTime

Description: Upon installing a client on your computer (Mac or Windows), your application and website usage will be securely tracked. Reports are available online and by email. Privacy cautious users can define what gets tracked and what doesn’t, through a whitelist mechanism. By using tags is possible to group applications and sites in order to track the amount of time spent, for example, on a given project.
Why: Keep track of where your time goes.
Honorable mention: 8aweek.com
URL: rescuetime.com

4. Joe’s Goals

Description: They say that goals are dreams with a deadline. Achieving goals requires clarity of what you want to accomplish and tracking your progresses. Joe’s Goals has an extremely simple interface to track whether you worked towards a given goal or not, on a daily basis. It couldn’t get any easier than this, but it can be very effective in reminding you of your “resolutions”.
Why: Stay focused on your goals one day at a time.
Honorable mention: daily-actions.com
URL: joesgoals.com

5. SparkPeople

Description: A great social network of people who are interested in dieting and living a healthy lifestyle. The site offers diet plans, diet and exercise tracking, great articles, daily newsletters and blogs. It’s by far the best of its kind.
Why: Encouragement and tips for healthy living.
Honorable mention: traineo.com
URL: sparkpeople.com

So what do you think about them? What are some other sites that you find truly invaluable to aid you in organizing your life?

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An ever-increasing stack of neatly arranged boxes stare back at me as I gaze up from the computer, well into the throws of packing for our upcoming move, I can’t help but think of some of the useful lessons I’ve learned from the many I’ve moves I’ve made throughout my life.

From across town to across an ocean, I’ve moved houses quite a fair number of times, and with each new journey towards another stage in my life, I’ve gathered firsthand knowledge of what it takes to make a move – any move – more successful, straightforward, and yes, perhaps even enjoyable. Here are twenty useful moving tips that have served me well through several moves.

1. Plan! This might sound blatantly obvious, but as soon as you know with any shred of certainty that you’ll be moving, start planning as many steps as you possibly can. Write out (on paper or online) everything and anything that you think may be important. Remember the milk and Ta-da Lists are two terrific sites which can help make the task of keeping everything straight a whole lot easier. Update your list often and make sure that everyone whose involved with the move (aka, family members who live with you) are all on the same page when it comes to knowing about what’s going on regarding the move.




2. If you rent (lease) and are required to give a certain period of notice (of your intent to move) to your landlord, ensure that you do so. The amount of time that a person is legally required to adhere to when giving notice varies slightly from state to state (or province to province), but generally it is 1-2 months before the exact date that you plan to vacate your current premises (this information should be included on your lease or rental agreement). When submitting your written notice to your landlord (and/or property management office) ensure that you date it, sign it in your own handwriting (as opposed to just typing or printing out your name), and make a copy or photocopy for yourself.




3. Know your budget and try to stick to it. Will your new monthly rent or mortgage be more or less than your current one? Do you need to hire a moving truck/rent a van? Will you need to allot funds for airline travel, gas, railway tickets, hotel accommodations? Can you source boxes easily or do you need to purchase them? Draw up a realistic budget based on your current income and/or financial situation.

   Remember to account for expenses such as any fees that you might incur for canceling and/or hooking up (or in same cases transferring) services such as utilities, phone, cable and internet, a new insurance policy (be it renter’s insurance or homeowner’s insurance), temporary storage (if you’re going to need to house a substantial chunk of your belongings before moving them into your need home), and the cost of hiring professional movers or renting a vehicle, if you’re transporting your items yourself.

   It’s always wise to set aside a percentage of your budget for ‘miscellaneous expenses’ (such as last minute cab fares, buying maps, laying in for some extra cleaning supplies to ensure that you get your damage deposit back, etc) and another for ‘emergency expenses’ (those sorts of things that no one ever plans for, but which often seem to spring up at the most inopportune times). To help ensure your budget stays on track try using an online system such as Buxfer or Mint. On the day of your move, make sure that you have cash and personal cheques on hand, and that you know exactly where all your credit and debit cards are.




4. Learn as much about your new property/home as possible. If you are buying, chances are that your realtor will have told you a fair bit about your new home, but even if they have, it never hurts to ask about anything that you may be curious about. If you’re renting, make sure that you find out up front if things like utilities, cable and parking are included in the monthly rent, if the property has any sort of security system (alarm system, close circuit TV, doorman, etc), if your unit/suite/house/etc has fire alarms in place (as it legally should), what kind of laundry facilities are offered, what the policies are regarding subletting, if you need to provide your own garbage/recycling bins, and where the nearest public transit stops, grocery stores and hospitals are – amongst other things.




5. Check the fine-print on your utilities bills as soon as you know you’re moving to ensure that you call to cancel or redirect utility services well in advance (companies often ask that you call at least 30 days in advance of the date that you want the changes/cancellation to commence).




6. If you’re using a moving company, it’s always a good idea to book as far in advance as possible, especially if you’ll be relocating on a common moving day, such as the first or last day of the month. Call around before settling on a company to find out what services and extras (such as complimentary boxes) they offer, as well as their rates (and what their payment methods are). Always try to go with a company that is licensed and insured. If you have a bit of flexibility in terms of what day you’re able to move on, you may find it easier to get a mover that’s available during the week (as opposed to on the weekend).




7. Keep, toss, sell. If you’ve ever watched the TLC show Clean Sweep then you may be familiar with the “keep, toss, sell” method of organizing one’s worldly possessions. Essentially what “KTS” means is that as you’re organizing your belongings in preparation for your move, you take a moment and decide for each item whether you should keep, toss (aka, throw away), or sell (or donate) it. Moving is truly the ideal time to help rid your home of excess clutter, unwanted junk and anything that’s broken/no longer used.

   If time and your circumstances permit, a yard (garage) sale can be a fantastic way to help unload some of your old goods and rake in a little extra cash. If that’s not possible, then you may want to consider donating any items which are still in good condition to a local charity such as the Salvation Army or Goodwill. Just think, the less you own, the less you have to pack and unpack ?




8. Give out your new address and redirect your mail. As soon as you have your new address, take a few minutes (I usually find that an hour – during a weekday – is enough time, unless you’re on hold a lot) to call up important services that you use such as banks, credit card companies, insurers, utility companies, schools, doctors offices/pharmacies, lawyer’s offices, and anyplace else where it’s vital that they have your correct address.

   Just to veer on the side of caution, you may also wish to have your mail redirected from your current address to your new one at the post office (if you’re going to be living someplace temporarily between your old and your new house, you might want to have the post office hold your mail temporarily for you, as well). Email, call or write to friends and relatives before the move occurs, so that they’ll always have your correct address as well. Likewise, remember to cancel or redirect any newspapers and magazines that you subscribe to in advance.




9. Source your boxes – lots of boxes! If there’s one thing I’ve learned from the many moves I’ve made over the years, it’s that it is all too easy to underestimate the number of boxes that you’re actually going to end up needing. What seems like “just a little bit of stuff” can quickly fill more boxes than you might expect.

   In many larger cities, there are companies who specialize in selling sturdy boxes (often including wardrobe and mirror boxes) and other packing supplies. Such companies often delivery and can quickly provide you with clean, new boxes for a very reasonable fee. If this isn’t an option for you, boxes can sometimes be purchased from moving and moving/transport van rental companies.

   Alternatively, you can sometimes find boxes at places like grocery, liquor and furniture stores. Another handy alternative is to join your local Freecycle group and write a post asking for clean, strong moving boxes. In addition to boxes try to make sure that you have lots of packing tape, newspaper or packing paper, bubble wrap, blankets (for larger and highly fragile items), zip-lock bags (for sorting smaller items together), garbage bags (I’ve found GLAD ForceFlex bags to be immensely handy when moving), scissors/utility knives, and permanent markers on hand . If you’re going to be carrying your own boxes and furniture, good quality work gloves are a must!




10. Pack with a plan. Even before you have your moving boxes, you can begin organizing (see “Keep, toss, sell” above) your possessions. Once you have boxes, start packing up items ahead of time, leaving out only the most necessary of objects for the last minute. While a small household can (ambitiously) be packed up from top to bottom in a couple of days (assuming you don’t have a ton of possessions), going that route is both mentally and physically draining. It’s best to start packing 2-4 weeks in advance of your move date, if at all possible.

    By getting an early start on things, you’ll also be better able to judge ahead of time if you have enough boxes (trust me, one “last minute”, middle of the night back alley box hunt is all it takes to teach you the hard way that it’s best to start packing early on). While packing, try to keep like with like and avoid putting overly heavy items with smaller, more delicate pieces (in other words, don’t pack the fine china with the bowling balls).




11. Pack creatively. Make the most of your items and put them to work doing double duty, where applicable. Linens and bedding (including pillows) can be used to wrap up breakable items; suitcases, tote boxes, empty tins/decretive boxes, backpacks, duffel bags, sports equipment bags, laundry hampers (and laundry baskets), and (clean) garbage cans/bins can all be used as potential spots to pack items. While packing up, remember to return any library books, rented DVDs, or items which belong to other people.




12. Label your boxes. While different people have different strategies when it comes to how they like to label their moving boxes, I personally like to include the following on each box: the name of the room where the box is to be placed in your new home, a brief description of the contents, my surname (just in case the movers misplace a box somewhere), and if applicable, the word “fragile”.




13. Keep the toolbox handy. For both your old and your new home, you never know when you’ll need a screwdriver, hammer or level, so have your toolkit (and/or tool belt) at the ready.




14. Make it sparkle. Let’s face it, no one wants to move into an overtly dirty house, yet many of us have been in that exact situation before. As such it’s always nice to give your old place a thorough once-over (vacuum and shampoo any carpets, wash the walls and windows, clean out and wipe down the fridge and any cupboards/drawers, defrost the freezer, make sure the yard is tidy, take out any trash, ensure all light bulbs work, leave all appliances in good working order, etc), that way the new tenants don’t have to move into someone else’s mess. If the same courtesy has not been extended to at your new house, you’ll also need to clean there as well.

    Try to have a good arsenal of basic cleaning supplies on hand (floor cleaner, all-purpose cleaner, furniture/wood polish, Windex, dish soap, a broom and dustpan, sponges/rags, a mop and bucket, polishing clothes, a duster, a bottle of vinegar and some fresh lemons, etc). Also remember to shut the windows and doors, turn off all the lights, air conditioning or heaters, unplug any applicable appliances, and dispose of any trash before leaving your old house for the last time.




15. Keep valuables and important items with you. Ok, you might not be able to carry great grandpa’s antique piano in your lap, but many smaller important pieces can travel with you in a suitcase or plastic storage tote. Such items will be highly personal to you, but could include things such as important papers, jewelry, silverware, irreplaceable childhood mementoes, cherished photographs and anything small that’s extremely fragile. If you’re concerned about the an important item getting damaged during the move, consider having it appraised and insured beforehand, if you’ve not already done so.




16. Remember the good old days. Even if you had some less than fantastic times in your old home, it rarely hurts to take a few moments to reflect on what that house meant to you and your family. You may wish to take pictures or video tape your house during the move and when all the rooms are empty, for both your own recollection and the sake of posterity.




17. Use it or eat it. A few weeks before your moving date, start dwindling down the food in your fridge, freezer, cupboards and pantry, this way you won’t have to move as much of it. If you’ve move will involve many hours or days worth of travel, you may wish to eat up everything (or at least all perishable items) or give your unopened food items to people you known or a local food bank/soup kitchen, that accepts donations. If you are moving with perishable food, use a cooler (with ice) to keep your edibles from spoiling before you reach your destination. Similarly, there’s little point in moving nearly empty items like cleaning supplies, toiletries and gardening products. Use up or discard of as many ‘almost finished’ items as possible, before moving day arrives.




18. Don’t forget about Fido, Fluffy, Flippy or Flappy. Arrange in advance to have someone watch your pets on the day (weekend, week, etc) of you move or board them with a kennel/pet hotel. If you are traveling to your new home with a pet, make sure that they’re wearing their tags (if applicable) and that you have their registration papers, vet files (paperwork), medications, a leash and collar, a clean blanket (and/or carrying case), plastic bags and some rags (for any accidents or pit stops), and plenty of clean water and food on hand with you.




19. Always do one last walk-through. No matter how thorough you’ve been in packing, it never hurts to do one finale walk-about of your old home before shutting the door for the last time (especially important if you’ll be handing over the keys to someone else, such a landlord, right then and there). Check all closets, storage spaces, sheds, the basement and attic, and inside the appliances (including the washing machine and dryer, if they’re not coming with you).




20. Last minute details. It’s the day of your move and with a little luck everything has gone pretty well so far. You’re organized (cell phone, laptop computer, wallet, camera, kids, pets, and important paper work? Check!), packed (did you remember to double check the bathroom cabinets and take any medications with you?), and rearing to go. Now is the time to ensure that you’ve got all sets of house and mailbox keys and garage door openers ready to handover/give back. Check the mailbox one last time, do your walk-through, take any last minute photos, and give yourself a highly deserved pat on the back for a move well done!

These are 20 important points that I always try to remember and put into action when I move. They have helped keep me sane and my move on track numerous times. What are some of your favorite moving tips, tricks and pieces of advice that we haven’t listed above?

1. Inbox Zen with the three folder email system
2. Randy Pausch’s most inspirational quotes
3. The credit card minimum payment trap
4. Saying goodbye to a man who inspired the world
5. 7 unusual pastimes to try this summer
6. Strategies for getting out of debt: Debt Snowball Vs. Debt Avalanche
7. Let’s get started

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The sad news of Dr. Randy Pausch’s passing, has touched many people who had an opportunity to learn about him and his famous last lecture before his death. I already made a brief farewell post, but great men are best remembered through their own words. These are 20 of what I consider to be great Randy Pausch motivational quotes.

1. Never underestimate the importance of having fun. I’m dying and I’m having fun. And I’m going to keep having fun every day, because there’s no other way to play it.
2. We cannot change the cards we are dealt, just how we play the hand.
3. We don’t beat the Reaper by living longer. We beat the Reaper by living well.
4. It’s not about how to achieve your dreams, it’s all about leading your life. If you lead your life in a right way, karma will take care of itself. And dreams will come to you.
5. If I only had three words of advice, they would be, tell the truth. If I got three more words, I’d add, all the time.
6. The brick walls are there for a reason. The brick walls are not there to keep us out; the brick walls are there to give us a chance to show how badly we want something. The brick walls are there to stop the people who don’t want it badly enough. They are there to stop the other people!
7. Be good at something. It makes you valuable. Have something to bring to the table, because that will make you more welcome.
8. Better to fail spectacularly than do something mediocre.
9. Experience is what you get when you didn’t get what you wanted.
10. When there’s an elephant in the room introduce him.
11. Be prepared. Luck is truly where preparation meets opportunity.
12. Find the best in everybody. Wait long enough, and people will surprise and impress you. It might even take years, but people will show you their good side. Just keep waiting.
13. Apologize when you screw up and focus on other people, not on yourself.
14. Don’t complain. Just work harder. That’s a picture of Jackie Robinson. It was in his contract not to complain, even when the fans spit on him.
15. Get a feedback loop and listen to it. Your feedback loop can be this dorky spreadsheet thing I did, or it can just be one great man who tells you what you need to hear. The hard part is the listening to it.
16. When you see yourself doing something badly and nobody’s bothering to tell you anymore, that’s a very bad place to be. Your critics are your ones telling you they still love you and care.
17. If you’re going to do anything that pioneering you will get those arrows in the back, and you just have to put up with it.
18. Fundamentals, fundamentals, fundamentals. You’ve got to get the fundamentals down because otherwise the fancy stuff isn’t going to work.
19. I probably got more from that dream and not accomplishing it than I got from any of the ones that I did accomplish.
20. I’ll take an earnest person over a hip person every day, because hip is short term. Earnest is long term.

If you haven’t done so already, watch the last lecture and read the book which provides a bit of background information to better understand the man and his story.

Upon the tragedy of learning of his future death months in advance, Randy didn’t allow the sword of Damocles hanging over his head to take the smile from his face. He had fun until the end, he truly lived until his last moment. In the process, with his Last Lecture, he managed to touch the lives of millions of people worldwide.

In that sense, he never died. He continues to live inside the hearts of those who were deeply inspired by his message of living life to the fullest, with joy. Randy is a continuos reminder of the importance of working hard to achieve your dreams, of not complaining about petty things, of having a positive outlook towards life.

I always wanted to get in touch with Randy and thank him for the many ways he ended up inspiring and changing my own life. But I never wrote to him, not even an email. It wouldn’t have been fair for me to take that time from his family, to read yet another thank you note amongst the thousands that he received.

Last night I started writing a post about the lessons I learned from Dr. Randy Pausch. I thought about it after reading a status update page that tragically mentioned he was no longer able to post updates, due to the advanced state of his pancreatic cancer. My post was going to be titled “The lessons I’ve learned from a dying man”.

That post, with an aptly renamed title, can wait. Instead this is my farewell. Goodbye Randy.

Email, meetings, the commute home, surf the web, perhaps a nightcap and, before you know it, another busy day has come to an end. In our ever-increasing dependency on all things computer related, it is all too easy to forget that there’s still a veritable plethora of interesting activities to participate in, beyond the keyboard.

As with nearly everything in this world, the key to having time for both hobbies and the demands of daily life is balance, and the realization that the internet will still exist if you go fly fishing for an afternoon or spend a weekend learning how to weave a rug. When reflecting on what activities you might like to spend time doing, think back to your childhood and the types of hobbies that you enjoyed as a youth. Who knows, perhaps you’d delight in building model cars or going horseback riding again.

With that thought in mind, here is a round-up of seven fascinating and slightly out of the ordinary pastimes for you to explore. If nothing on this list tickles your fancy, don’t worry, the guiding idea here is to try something new, even just once, and broaden your horizons – because let’s face it, no matter how much you love Reddit, StumbleUpon, Facebook or Twitter, life is too short to devote every spare waking moment to internet browsing.

1. Paragliding

Go paragliding. It’s pretty safe to assume that for just about as long as humans have walked the earth, they’ve wondered what it would be like to take to the sky and soar, free as a bird. While evolution has yet to see fit for people to develop wings (darn!), perhaps the next best option is to try paragliding. If the thought of going completely ‘free style’ seems too daring for your tastes, fear not, you can still give this exhilarating activity a whirl, tethered to a motorboat, in which case it’s known as parasailing.

2. Fossil hunting

Make like a paleontologist and try you hand at fossil collecting. Fossils abound the world over, though there are some definite hotbeds of activity where you’re more likely to unearth a truly ancient treasure or two. Check out fossiel.net for a list of over 270 terrific fossil finding spots worldwide.

3. Make your own Olive Oil

Tap into your inner Greek (or Roman!) and experiment with making your own olive oil. Regarded as one of the healthiest edible oils in the world thanks to its rich level of monounsaturated fats, olive oil is a culinary staple with an endless array of uses. Try making your own at home in your kitchen with nothing more than some olives, water and some drinking glasses, or if you’re really into the idea (and you’ve got a reliable source of olives), consider investing in an olive oil press.

4. Learn to pole dance

Once regarded largely as the domain of strippers, in recent years pole dancing (a combo of gymnastics and dance moves) as sprung up across fitness centers nationwide, proving that this workout has more than just visual appeal. Assuming you have the floor space (and possibly a sturdy pole), you don’t even need to leave the house to get your grove on, as instructional videos can teach you all the moves you’ll ever need right in the comfort of your own living room.

5. Pan for gold

Often credited with bringing the American and Canadian populations west, gold rushes were an integral part of the nineteenth (and in some places, early 20th) century. Thankfully, one no longer has to navigate treacherous terrain or put their life on the line if they would like to try their hand at panning for gold. Places such as Barkerville, British Columbia and Tuolumne County, California still yield up gold flakes and nuggets alike each year.

6. Create paper at home

We all know finding more ways to go green is a must, so why not give an eco-friendly craft such as homemade paper making a try. Inexpensive and relatively simple to do, this creative pastime is a great one to involve kids in, too.

7. Re-mix your wardrobe

Gas, food and housing aren’t the only things that continue to get more expensive on what feels like a daily basis, clothing prices are also jetting upwards, which is all the more reason to reinvent your current wardrobe instead of shelling out for a brand new one. With a little ingenuity and a sewing machine (or if you’re an excellent hand sewer, a needle and thread) you’ve got the ground work in place to revamp and re-mix your duds in new and marvelous ways. For some hip inspiration flip through books like Rip It!: How to Deconstruct and Reconstruct the Clothes of Your Dreams by Elissa Meyrich, and Megan Nicolay’s Generation T: 108 Ways to Transform a T-Shirt.

This list contains seven fun-filled activities, but there are certainly tons more hobbies out there, just waiting to be explored. When you’re not putting in your daily 9-5, writing blog posts or watching YouTube, what are some of your favorite ways to stay busy, learn new skills and have a blast?

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I tried several systems to maintain a tidy inbox and keep up with the fairly large amount of emails I receive, but after a short period of success I would usually end up reverting to my old ways. The increasing entropy level of my inbox surely didn’t contradict the second law of thermodynamics.

I finally found my Inbox Zen thanks to a system of three folders. I read about something similar somewhere and customized it to my needs. It works like this: I have three folders, Follow up, Keep and Archive. I check my email once every 3 hours or so, and I process each of the emails lying in my inbox starting from the bottom up, following this algorithm:

1. The email doesn’t require a reply and I won’t ever need it again. I delete it;
2. The email doesn’t need a reply but could be useful in the distant future. I move it to Archive;
3. The email doesn’t require a reply but it’s the kind of information that I will need within a week. I move it to Keep;
4. The email requires a reply which can be provided in 2 minutes or less. I reply right away and move the message to Archive or Keep depending on when I’ll need it again;
5. The email requires a reply, but it will take some time to formulate one. I move the email to Follow up.

The figure below shows my workflow for each email (click to enlarge it). Note that I don’t normally delete the emails that I replied to.

This way, my inbox is empty or almost empty at all the times. Later at night I go through the emails in the Follow up folder and work my way through, giving priority to the most important and urgent ones. When I need an important email like the confirmation email for a trip that I’ll be taking in 3 days, I can find it in the Keep folder. This folder is by far the least used and it’s routinely cleaned up.

When I first started this system, I had about 600 emails in my Gmail inbox and had to spend a whole weekend catching up. But it was entirely worth it. There is no need to add further stress to our lives.

Gmail users

If you read your gmail account through the browser at gmail.com, you will need to create 2 labels only, Keep and Follow up. The Archive function that’s built-in in Gmail will be your third folder. You may even decide to use “Starred” as your “Follow up” folder. Those of you with a Gmail account, using programs such as Thunderbird, Outlook, Entourage or Evolution, may have to create an Archive folder in any case.

I found this system for handling emails to be a very productive one, that I can stick to, and that helps fight off any form of email procrastination. That said, lately my follow up folder has become a little too fat, but that’s due to the fact that beside my regular work, I’m writing a technical book for a major publisher, I write for three blogs, and am currently planning a move from Markham to North York, which will happen at the beginning of August. In other words, it’s an excellent system, but not a magical machine that creates additional time.

What email system do you use to reach the mythical Inbox Zero? How do you cope with mailbox stress?

In practice this means that if you’re in debt, you will need a solid plan and personal discipline to get out it. The first thing that you’ll need to do is to remove your reliance on credit. Stop adding more debt by ceasing to use your credit cards ¹. Secondly, determine the maximum amount of money that you are comfortable with and can afford to put towards your debt each and every month. This number should be greater than the sum of all the minimum payments.

The mathematics and psychology of debt repayment

Unfortunately, having figured out the monthly repayment that you can afford doesn’t tell you anything regarding how you should go about repaying your debt. If you only have one credit card or loan then the math is much easier. You just need to pay back the whole amount on that card, preferably through some form of monthly direct debit (from your bank account), so that it’s automatically taken care of for you.

Realistically though, most people who are in debt have an outstanding balance on several credit cards and possibly some loans ² as well. How should they distribute the repayment money each month? Should they divide the monthly amount by the number of cards and repay each of them equally? Should they pay proportionally based on the amount due on each card?

The goal here is to minimize the total amount of interest fees that you’ll have to pay your creditors over time, therefore allowing you to get out of debt as quickly as possible. The answer to this problem is mathematical, and it’s not a matter of opinion. There’s no room for “I think my method is faster…” type of thoughts. Basic mathematics already provides us with the best possible order of payment, so as to minimize interest.

That said, getting out of debt is a long process which generally involves a great deal of emotional involvement. The method for getting out of debt is only successful if you stick with it. For this reason, some people feel that a slightly suboptimal strategy, from a mathematical standpoint, is still acceptable if the psychology involved makes it easier for the debtor to feel motivated and keep at it until the debt is extinguished.

Hence, there are two methods which are often recommended by financial experts and debt counselors: debt-snowball and debt-avalanche. Both are straightforward and easy to understand.

The Debt-Snowball method

The idea behind snowballing debt is that you should pay only the minimums on all of your credit cards, except for the card with the smallest balance. This card should receive all the remaining funds available for repayment. For example, if the total amount required to pay the minimum on all the other credit cards is $500, and your allotted over all monthly repayment budget is $1,500, then you should put $1,000 towards the card with the smallest balance. If you happen to receive a bonus or extra money that you intend to put towards the debt, this too should go towards the smallest balance. When the amount available is more than enough to bring the balance to zero, then any leftover funds should be put towards the second smallest card (the one with the smallest balance amongst the remaining debt carrying cards).

This method has the advantage of motivating you because you’ll quickly see the smallest card’s debt vanish. The downside is that it’s not the most efficient method, and as such you could end up paying more interests and being in debt for longer than strictly necessary. A great proponent of this method is the popular radio host Dave Ramsey.

The Debt-Avalanche method

The debt avalanche method is a variant of the snowball one ³, where instead of ordering the debt repayment from the smallest to the largest balance, the order is defined from the highest interest rate to the lowest. This method is the fastest and most efficient strategy for paying off your debt. The downside in this case, is that if the balance on the card with the highest APR is large, you may be paying off your debt for a very long time before being able to say, “cool, one less card to worry about”. Mathematically speaking, this is the winning strategy, though you’ll need to employ personal discipline here, so as to not get discouraged.

Which one is right for you?

To show you the difference between the two systems, I’m going to use an entirely fictitious scenario. Imagine that you have the following credit cards (for sake of simplicity, say that they all have a fixed minimum of $10 or the specified percentage minimum below, whichever is greater):

The total amount of debt is $24,000. Assuming that you had a monthly repayment budget of $1,500, the debt-snowball method would take 19 months to pay off the debt and incur $3,243 in interest. The debt-avalanche approach would take 18 months and end up costing you $2,717 in interest fees.

Debt-avalanche is the best way to go about things, because it’s both cheaper and faster. Supporters of the other method will point out that debt-snowballing will clear the outstanding balance from the two smallest cards in August and October 2008, respectively. Going the debt-avalanche route causes you to wait until May 2009 to see your first card paid off in its entirety. Debt-avalanche is a smarter choice if you are patient enough to see it through to the end (it’s the approach that I personally use). If you are inpatient, remember that an “immediate gratification” attitude is a huge contributing factor to consumer debt in the first place. Generally speaking, the debt-avalanche method is financially unbeatable, while debt-snowballing is emotionally gratifying, but economically not the most efficient option.

If you’d like to see these methods applied to your own specific situation, you can use the calculator available here. Whichever you choose, you’ll get out of debt reasonably fast. Just stick with it, as I’m doing, and you’ll be able to enjoy a debt free existence.

Footnotes

[1] The idea is to stop your reliance on credit. It’s possible to use a credit card as a debit card, by paying the amount that you spend back right away, but it’s a very risky approach which may lead you to incur further debt. Experts suggest that you cut up or place your credit cards in the freezer, so as to not be able to use them while out shopping.

[2] Exclude mortgage loans from the snowballing method. Consider them a fixed expense, like monthly rent payments would be. Also keep in mind the difference between open end and closed end loans. Open (aka flexible) loans are ones that allow you to deposit over-payments, so as to be able to pay off the balance owing faster. This type of loan can be viewed as a low interest credit card in your strategy, given that you can pay back as much as you want (or more accurately, are able to).

[3] This is also known as Laddering, while debt snowballing is known as Reverse-Laddering.

Disclaimer: I’m not a financial adviser, just a guy who has read a lot on the topic and wanted to share his findings.