This book is packed with money saving tips and how you can fight for getting the money you deserve when you get ripped off. Most of the contents have been common sense for me. The following are the key takeaways for me.

Car buying tips:
– Don’t lease unless you can write off or swap lease (take over others’ lease).
– Avoid buying brand new. 2~3yr old cars are a better buy.
– Do you homework because buying a new car. Go below MSRP cost and haggle over the price of the car, not payment. Don’t finance from the dealer.
– Buying from Car Rental companies may not be a bad idea due to their good maintenance. This is contrary to my belief.
– Extended service contract may not be needed.
– Use carfax for buying used cars.

Car leasing:
– Negotiate on pricing of the car, not the lease payment.
– Could be very expensive after 2~3 years due to the fast depreciation of the car.
– Don’t lease unless you need/want to change cars every 3 years.
– Money factor is like interest rate.

Car rental tips:
– Rent from shops outside of the airports for better deals.
– Check the car, contract and the odometer before driving off the gate.
– Look out for insurance waiver. Most of the waivers are not needed.
– Ask for extras (like GPS) without paying for them.
– Fill up the gas tank before returning the car. Don’t buy the fuel option.

Car repairs:
– Use Angie’s list.
– Pre-qualify the mechanics before you need them.
– Seek a 2nd opinion for major repairs.
– Read the owner’s manual on what needs to be serviced and how often. You don’t need to replace brake pads every time.

Banking:
– Debit card may not be as economical as people think. Banks make money on overdraw fee. And debit cards lack the protection that credit card provides.
– Using PIN with debit cards saves the merchant 7x~8x of fee vs. not using PIN (off-line).
– Was surprised about the universal clause that triggers higher interest when the person miss a bill, not related to the credit card. That’s outrageous.
– Payday loan’s business model is like selling drug: you need to keep going back for more fixes.

Life Insurance:
– Update the beneficiaries.
– Good introduction on various types of insurance: Whole life (cash value invested in money market), Universal Life (cash value managed by fund manager), and Variable Life (cash value) managed by individuals in mutual fund).
– Various kinds of living trusts mentioned. Good to use living trusts to distribute your wealth without probate.
– Create a well.

Saving for college:
– Take advantage of 529 or even Roth IRA. Make sure the children don’t have too much saving to qualify for financial aid.

Credit card:
– Get a free credit report from each of the credit company every 4 months.

Health club:
– Don’t allow auto debit. Use credit card and get a good deal around January of every year.

Lots of other common senses in Real Estate, mortgage, hiring contractor, health club, IRA, bidding on eBay, giving to charity, and etc.

This is a good reference book. Highly recommended for young people who need a finance 101 lessons.
Perhaps, the only missing tip is to check your library for any books that you plan to buy. It’s free to borrow from the library than to buy a book. Conflict of interest, I guess.

OK. So there are many reasons to get off the payroll and start your own business, fulfilling your destiney, carrying out your mission: offshoring, pensions are going away, lack of job security, boring, repetitive jobs. Your calling must have the 3 elements:
1. Skills and abilities: have the skills and abilities to do the job.
2. Personality tendencies: matches your personality.
3. Values, dreams and passions.
Let your life speak like a Quaker and live life authentically.

“Who’s making your lunch?” speaks to taking responsibility, stop blaming others. 5step process:
1. Clarify your current situation
2. Seek the advice and opinion of other people.
3. Identify the alternatives.
4. Choose the best alternative.
5. Act: Don’t wait on perfect conditions for success to happen: just go ahead and do something. “Look for the seeds of opportunity, the rainbow instead of the storm. Keep your dreams alive – like the horse whisperer (Monte Roberts) and write your own check for your future (like Jim Carrey).

Don’t wait for the “Wizard”
Think outside of the box like the Indian woman who outsmarted the tricky moneylender. Most complex problems do have a solution, if only we attempt to think beyond the obvious choices and are willing to see things that others may not.

Fire yourself!
Tap your creativity (Einstein’s dozing off with ball bearings in his hands). Ask yourself why would I hire myself? My core competency? How to translate to marketable skills? What companies/businesses would welcome those skills? Write down your ideas and act on them. Lots of brain teasers in this chapter.

Secure or imprisoned?
The first step in creating positive change is to identify what you want. “As soon as you get a clear picture of what you’re moving to, you will get a wave of confidence, boldness, and enthusiasm.” The five predictors of success: 1) Passion, 2) Determination, 3) Talent, 4) Self-discipline, 5) Faith. Two major principles to choose from when looking for revolutionary idea: 1) Find a need and fill it. 2) Find a problem and solve it. Process in developing a No More Mondays attitude: 1) Set a specific goal, 2) Start small and build your idea slowly, 3) Test every move, 4) Expand on the basis of your success, 5) Carefully select the right people to help you grow.

But you owe me
A return to the results-based economy from the time-based. 10-fishman’s story is about losing jobs vs. new opportunities. He talks about the importance of residual income vs. linear income in the “Revolutionary Insight” sidebar. 1) Recognize that time doesn’t always deserve compensation, 2) Discover that results are what create income, 3) Free yourself from a paycheck mentality, 4) Realize that not getting a paycheck may open the door to extraordinary income.

Finding work that fits:
Eaglepreneur (who wants to work on his/her own) vs. Entrepreneur. Self-employed vs. business owner (systems in place that would create income even if you are not there – making SWISS (Slaes While I Sleep Soundly) dollars.) Regonize the many options for choosing our own work model. See varied ways your areas of competency could be put to use. Explore bing an Eaglepreneur. Choose what your are going to rather just what you are leaving. Know that your passion will overcome your fears of inadequacy.

One Place Forever – Blessing or Curse?
Work as hard as ou want want everyone else do. View struggles as part of healthy birthing process for a new season in your life. Research, plan and organize around your idea. Be confident there are wildly successful ideas that match your unique talents and passions.

Throw out your TV (and your alarm clock too!)
Sew up your buttonholes now and then. Focus on our strengths – not your weaknesses. Become an idea magnet (1. Go to trade shows, 2. Ask your friends, 3. Check products being sold in foreign countries, 4. Pay attention to passing fads and trendy ideas, 5. as you travel, look, listen, and learn, 6. make sure you find something you believe in, something you would buy yourself, and would sell to your best friends, 7. share your ideas, 8. learn business skills through network marketing, 9. learn from running a successful mail-order or ebay business). Look inard to create your idea filter.

No money – no problem!
The process of getting wealth – not the money itself – is what has value. Money will only make you more of what you already are. Three reasons people never act o their dreams: 1) fear of failure, 2) lack of knowledge, 3) preceived lack of money. Move past fear and lack of knowledge – act on our idea. Be creative in seeing ways to start your business with very little capital. Be convinced that you can start with what you have. “Bootstrap” your way to growth. Keep accurate records from day one of every cost and transaction.

Living with passion, purpose, and profit
Genius seems to be more about the ability to see solutions that others don’t. The mark of genius is a willingness to explore all the alternatives, not just the most likely solution. Define what success means for you in all of these areas: social, financial, personal development, spiritual, physical, family and career.

Overall, this is a book with lots of ideas borrowed from “4-hour workweek” and “A Whole New Miond,” “Think and Grow Rich,” and “Poor Dad & Rich Dad,” plus others in the reading list. The author has done a lot of readings himself. It’s questionable if the ideas are simply copied from the others or the author has put them to test and stood by its authenticity. The book spent a great deal of chapters in convincing you to move away from just doing the mundane work and starting looking at alternatives and yet when it comes to finding the alternative, it safely encourages you to look inward to your own interest/strengths to find your true calling. Of course, everyone’s calling is different. It would be presumptious if the author offers a panacea to cure the Monday blues. At times, book reads like a psycho therapy session with lots of good stories and funny sidebars. I can’t say I gain a lot from this book.