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Twelve years ago today I started a blog called Consumerism Commentary. On that date, I was about one year into my journey of improving my finances. I had the bright and forward-thinking idea to track my progress — both in my bank accounts and in my skills of money management — publicly but anonymously, and by the end of the day I had a new website up and running. You can see what it looked like in 2003, in the graphic below, thanks to the Internet Archive’s Wayback Machine.

I’ve told the story a few times before. Here’s my most recent and succinct retelling of how I found myself in grave financial circumstances and, through the help of blogging and later the business that grew from it, improved my financial situation and my life substantially, from a negative net worth a few months before I started writing to a seven-figure net worth today. It’s not just about the money, though. I’ve met lovely people including and especially my girlfriend thanks to this website and the community, and I seem to have grown into a fully-formed adult (after starting the website as a late-model adolescent of 27 years).

I sold this website to a lead generation company called QuinStreet three and a half years ago. It was a good acquisition for the company, as they really wanted to ensure their own advertising was being served to the high-quality search engine traffic from which this website was benefiting. It was a good sale for me, because I saw revenue from search engine traffic as highly volatile and unpredictable, and I was happy to offload that risk for a good price.

After the sale, I became an employee, continuing to write for Consumerism Commentary, manage the blog, and offer consulting on blogging and community building as the company was interested. I negotiated a healthy salary — but six months after the sale, the company determined I was too expensive and laid me off. For some reason that baffles many (sometimes including myself), I offered to continue as a contractor, reducing my consulting role but continuing to manage this website and write occasionally.

The frequency of my writing has dropped off significantly since then, especially in the past couple of months. My “freedom” date was approaching. I had many years to prepare to move on, and I had a plan to do so. As luck would have it, after another reorganization at QuinStreet, I got a call the other day from the new supervisor of QuinStreet’s blogs asking me to reduce my role even further. I declined, choosing instead to move on. I imagine I’ll always be welcome to contribute an article for time to time at QuinStreet’s freelancing rates, but I expect I won’t have much to write here that couldn’t be published elsewhere.

I plan on launching a new financial website soon, and in the mean time, working on The Plutus Awards, the Plutus Foundation, a drum and bugle corps I work with as a volunteer, my photography, and other projects will keep me more than busy. Please follow me on Twitter, Facebook, and my LukeLandes.com website to stay on top of my current projects — and consider reading or joining my new financial website once it is launched.

There was no financial blogging community in 2003 when I started Consumerism Commentary. Today, thousands of blogs cover financial topics from thousands of angles. The community today is one of the most supportive groups I’ve had the pleasure to be a part of. I’m not leaving the community; in fact, I’ll be more involved than ever as I work hard to make The Plutus Awards the premiere event for the community and turn the Foundation into the most important charitable effort for the independent financial media.

The days of an independent financial blogger earning seven figures from advertising are probably over, at least not without an expensive team of professionals helping behind the scenes. I don’t expect any project I work on to be as lucrative as Consumerism Commentary was, but as long as I continue to have passion for financial education, I’ll find a way to express myself and gain something of an audience. I’m not retiring. This isn’t the early retirement everyone promises. I still have much more to do.

From the readers’ perspective, I expect the future of Consumerism Commentary to feature several articles a month from a freelance financial writer.

There was a point earlier at which, had I left Consumerism Commentary, I would have felt bittersweet about the departure. This was my baby; I put my heart and soul and countless hours into writing and working behind the scenes. When I had a day job, I’d come home, eat dinner, and work another eight hours writing for Consumerism Commentary, emailing readers, bloggers, and the “mainstream” media. I put many unpaid hours into building other affiliated sites and projects like the Carnival of Personal Finance, pfblogs.org (the ad-free personal financial blog aggregator), and free hosting for other financial bloggers. This was my life. There are some readers who have been with me since the very beginning. I appreciate that more than anything else. Thank you.

But today, moving on feels like nothing other than the natural course of action.

I wish QuinStreet the best continued success with the website. Thanks for reading.

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It may have been over a year since I last put together a podcast episode, but I’m back today to talk with Consumerism Commentary Podcast guest Carl Richards. Carl is here to talk about his new book, The One-Page Financial Plan: A Simple Way to Be Smart About Your Money. The author will also be the keynote speaker at the upcoming FinCon Expo.

In today’s podcast, Carl and I discuss why reducing a complex financial plan to one page can be key for living the fulfilled life you envision and how certain emotions can stand in the way. We talk about avoiding financial mistakes, and what a financial adviser’s (or a friend’s) role might be.

Because Carl is “The Sketch Guy” for The New York Times, we talk about the origins of Carl’s sketches, and how these sketches and Carl’s other art have been received in the art scene.

Finally, Carl and I discuss the process of publishing, and listeners will get an early listen to what might be the focus of his FinCon keynote address.

Consumerism Commentary is offering five free copies of The One-Page Financial Plan to five Consumerism Commentary readers. To be considered for receiving one copy of the book, which is also available at retailers, leave a comment below the transcript.

Continue reading this article to listen to or download the podcast. You can also subscribe to the podcast in iTunes.

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I can’t claim to be an expert on raising children. In fact, this is one of many, many topics about which I am not an expert. I do not have children of my own, and my observations of my friends and their children are limited. My experience comes from my memory as a child being raised by my parents.

To be honest, I have no idea how my parents managed my development into a somewhat capable adult or what they were thinking at the time, even though I do have a younger brother and had the chance to do a little more observation.

Ron Lieber’s new book, The Opposite of Spoiled: Raising Kids Who Are Grounded, Generous, and Smart About Money (Harper, on sale February 3, 2015) will serve as the perfect how-to guide for when I do have children of my own. I will want my offspring to have a well-developed sense of self, including financial issues, long before I did. Maybe I can prevent repetition of some of the mistakes that I lived through, all though sometimes mistakes offer the best opportunities for learning.

Lieber uses his book as an opportunity to encourage parents to start discussions with their children and to guide them in those discussions. In many cases, there are no absolute answers or rules that work for every parent, every child, in every situation. That would be an impossible task, as the financial realities of families wildly, as do children’s developmental processes.

This variety is skillfully woven throughout the book to give readers enough examples and counterexamples to spur reflection and consideration among parents who may not have given money discussions with children much thought. Many of the examples come from Ron Lieber’s community of readers through his column and blog in The New York Times and on Facebook. The author spent a year meeting with many of the families who contacted him to share their experiences, challenges, and decisions.

One anecdote that stuck with me came in a section in which Lieber shared discussions about children who work. I had jobs when I was a teenager, including one retail, but mostly office jobs. These jobs helped me earn a little bit of money, but didn’t really instill much about responsibility. My jobs came during school breaks for the most part, as I believed, as I think my parents did, that education was my priority, and that my “job” was to do well in school.

The author shared a story about a family of nine in Lewiston, Utah, raising 1,800 cows on the family farm. Unlike my life growing up, the children in this family have no time for extracurricular activities.

There is a presumption that [youngest family member Zeb] will work, that his family members will teach him how, and that he will be good at it, quickly. And while none of the boys is a great scholar or a star athlete, their parents operate under the assumption that the ability to perform basic labor is something within every child’s grasp. They know that every boy will grow up to work in the family business, but they’re confident that none of them will be afraid of the effort it takes to succeed someplace else.

The idea of this hard work leads to a discussion elsewhere in the book about the quality of “grit.” Measurements of grit, or how well someone persists, particularly through obstacles, correlates more tightly with direct measures of success than other types of aptitude, like IQ. Allowing children to develop grit through work gives them the ability to handle much more of life as an adult.

An important section of The Opposite of Spoiled focuses on instilling gratitude. Spoiled children show no gratitude for the advantages they have. Lieber offers specific suggestions for dealing with the observations kids have even at an unexpectedly young age. How do you explain socio-economic status to kids who are aware of being rich or being poor through their own observations?

The author points to this research:

[A researcher...] showed 3-year-olds a series of photographs and distinguished between the haves and have-nots. Only half of her subjects thought that the rich and poor people would be friends with each other. Other research has shown that 6-year-olds keep score of which kids have what sorts of possessions and begin to make judgments accordingly. By 11 or so, they’re beginning to assume that social class is related to ambition. Around age 14, they begin to wonder if there is a larger economic system at work that may constrain movement between classes.

It’s safe to say we all know some adults whose attitudes may be stuck at the development level between the ages of 11 and 14. But the book offers great suggestions for addressing issues of class without instilling pity or jealousy.

Lieber also addresses some of the more controversial aspects of child development pertaining to money, allowance and charitable giving.

I don’t read many personal finance books. After a decade of reading some of the best and some of the most laughable, I’ve been kind of burned out by the genre. For the last year, I’ve been selecting my reading carefully. I was initially excited about the opportunity to read Lieber’s latest because I am a fan of his columns in The New York Times, and his articles have often served as inspiration for the topics I’ve covered on Consumerism Commentary.

I’m glad that The Opposite of Spoiled didn’t disappoint. While many readers of Consumerism Commentary have shared their own stories over the years, the concise collection of advice found within The Opposite of Spoiled has offered me new perspectives for raising my future children to be empathetic, understanding, generous, and smart.

Pre-order The Opposite of Spoiled: Raising Kids Who Are Grounded, Generous, and Smart About Money by Ron Lieber now, in hardcover or Kindle edition.

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Naked With Cash is an ongoing series at Consumerism Commentary in which readers share their households’ finances with other readers. These participants benefit from the accountability that comes from tracking their finances publicly and the feedback of the four expert Certified Financial Planners (CFPs).

For more information, read this introduction.

Over the course of 2014, four Consumerism Commentary readers have shared their financial reports, exposing the results of their financial choices on a day-to-day basis. Each participant is paired with one of our Certified Financial Planners. Throughout the year, the experts have provided insight and guidance to help our participants take their finances to the next level, and as the series is now ending, we are able to look back on the year. Learn about this year’s participants and experts.

Jake and Allie are animal lovers who enjoy their pets and have no plans for children. Both are committed to early retirement. Jake and Allie are both interested in owning side businesses, even though they plan to use their nest egg for living expenses. The couple enjoys travel and make it a priority to take trips throughout the year. They believe that it makes sense to use part of their combined $140,000 income to enjoy life now. (Read their update from last month.)

After reading Jake and Allie’s comments, you can watch a Google Hangout they participated in with Financial Planner Neal Frankle. Neal Frankle appears courtesy of Wealth Pilgrim and MCMHA.org. This month’s Naked With Cash is the last of the year, and includes information on debt reduction and a wrap-up of the year.

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Tipping Housekeepers: Whose Responsibility Is It to Pay Hotel Staff?

by Luke Landes
Hotel Room

The prevalence of tipping is simply a fact of society. On several occasions, a friend of mine bemoaned the perceived necessity of tipping a specified amount to restaurant servers while dining out. He would ask the rest of our friends eating together at a restaurant, “When did the expected base tip go from 15 percent ... Continue reading this article…

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7 Essential Money Ideas for College Freshmen

by Luke Landes
College Tips

It was a long time ago, but I remember my first few weeks of college. Twenty years ago last month, I left my home state of New Jersey to live on campus at a neighboring state and to pursue my education degree. I had been away from home before for extended periods of time, but ... Continue reading this article…

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Should You Take the ALS Ice Bucket Challenge?

by Luke Landes
Conan O'Brien - ALS Ice Bucket Challenge

If you’ve been online in the past week or two, you have no doubt seen viral videos of strangers — and maybe even your friends — dumping buckets of ice over their heads. There is a charitable cause behind these videos. Most, or at least some, of the cold, soaked folks are accepting the challenge ... Continue reading this article…

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Overcoming Competitive Inertia: Stop the Comparisons!

by Luke Landes
Marching Band

I grew up in competition. It was a part of my life, all over the place. And sometimes competition moved me to push my self far, motivating me to be excellent, and in other cases, competition broke down my will to excel. An individual reacts to competition different depending on the psychological factors, the situation, ... Continue reading this article…

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