Buying Quality Furniture Can Save You Money In the Long Run

This blog is a way for me to pass along some of the stuff I learn on the journey and the past year has taught me a lot about furniture, furniture buying, and what constitutes quality furniture.  Tying that into our usual discussion of economics and finance, I think it provides a lot of valuable [...]

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The Ramifications of Globalization Through the Eyes of the Domestic Furniture Market

I’ve been thinking a lot about free trade, labor unions, American manufacturing, and free markets for the past few weeks.   You know that, on the whole, American manufacturing is still as strong as it was in 1960.  We still produce roughly $20 out of every $100 of world goods.  The difference?  Technology and, to [...]

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Reducing My Technological Footprint

Though the home renovations have gotten the most headlines due to their nature (constant onslaught of choices and tasks that need to be completed), one of the most important items on the agenda of the six-month project has been to drastically reduce my digital footprint.  By the end of the program, I will have one personal presence [...]

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Lunch Scholars – How Much Do High School Students Know?

This makes me sick. This high school is ranked in top 5% of high schools in the United States. The worst part of the video for me was the part where the kid says, “I was never taught that knowledge”. It’s not somebody else’s job to teach you, it is your job to seek out [...]

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Mail Bag – A Message from Ms. Roxanne

This is a great way to start the day … one of the reasons I love writing this blog. Joshua, [In American Households Continue to Deleverage But That Only Tells Part of the Story, you wrote] “The numbers are just figures on a sheet trying to explain human behavior. Study the behavior, what is driving [...]

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A Delicious Corn Chowder Recipe for Cold Winter Nights

We’ve been looking for a corn chowder recipe to add to the “permanent” on-demand recipe collection but most are geared toward summer when fresh corn on the cob is abundant in the Midwest.  This allows you to use the rich pulp, corn juices, and kernels to create a delicious, thick chowder that can be eaten [...]

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Mail Bag – Opportunity Cost and Enjoying Your Money

The best message I received all day in the usual flood of reader submissions … Hello Mr. Kennon, I am 24 yr old who has saved/invested incessantly since I was 18, and my portfolio just recently breached 6 digits!  I have always had a similar mindset to you when it comes to the future value [...]

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Signing My 11th Year About.com Contract

I’m working from home this afternoon, in part because I plan on making a beautiful corn chowder recipe for the family’s dinner tonight.  I needed to take a break from what I was doing to review the new About.com contract that will govern the licensing of my copyrights to The New York Times subsidiary for the [...]

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The Master Bedroom Renovations Are Mostly Done!

The master bedroom is done!  One more thing to mark off the six month project.  Thank you all for your great thoughts on carpet selection.  I finally grabbed as many samples as I could, took them home, and then made a decision based solely on feel (“hand”, as I’ve learned it is called in the [...]

from Joshua Kennon

E. Dehillerin Delivers When Williams-Sonoma Doesn’t

In early December I ordered a 10-piece set of Mauviel Professional 2.5mm copper pots and pans from Williams-Sonoma.  They were backordered until December 26th.  Then, they were supposed to be delivered January 5th or 6th.  Then, they were pushed back to February 28th.  On the morning of January 20th, I received an email telling me [...]

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Making a Beef Stew at 10 p.m. Might Not Be the Best Idea … But I Wanted to Try the Staub Cookware

I’m disappointed I haven’t been able to keep up on the blog or my messages this month because there have been some wonderful memories and experiences the past few weeks, from putting on a puppet show for my nephew to having an Auntie Mame movie night with pizza for a few members of my family. [...]

from Joshua Kennon

I’m Stumped on a Real Life Opportunity Cost Calculation: We’ve Hit a Snag Choosing the Wall to Wall Carpeting

The economists among you will enjoy this.  I’ve run into an opportunity cost trade-off that has me stumped.  The fact it has me stumped has me frustrated.  That is distracting me from more important things.  What is my problem?  Carpet.  Carpet is my problem. I’ve mentioned before that I’m a big fan of nicer carpet, [...]

from Joshua Kennon

I’m Working on a Recipe for Spinach Salad with Blue Cheese Crumbles, Whole Almonds, Fresh Chicken, White Onions, Tomatoes, and Drizzled with a Cinnamon Pear Balsamic Vinaigrette

We’re working on dinner salad recipes tonight and my dish of choice was a spinach salad with blue cheese crumbles, whole almonds, fresh chicken, white onions, tomatoes, and drizzled with a cinnamon pear balsamic vinaigrette.  It’s not perfect but it is a very good starting point.  One option is to take it more in a harvest [...]

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Mail Bag (Two Parts) – Which Financial Ratios Would You Use to Value Airline Stocks?

A question about airline stocks and performing financial statement analysis on an airline company: If you were asked to perform a financial statement analysis for an airline what 5 ratios would you use and why are these the most relevant ones? – Pauline I wouldn’t.  Airlines are notorious commodity-like businesses that require large capital expenditures [...]

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The Sitting Room – Before and After (In Progress) Home Renovation Photos

The home renovation or home upgrade project continues to progress.  There is still much to be done so these aren’t really before and after pictures … more like before and in-progress pictures, half of which are taken at night in low light.  I decided to post them, anyway, for Aunt Donna because it will give her [...]

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Mail Bag – What Drives Successful People and How Do You Overcome Discouragement?

This is a Mail Bag question from back in December.  I’m using it for several people, who wrote asking about many of the same concepts, which is why it got bumped to the front of the line even though I still have old messages from September and October to which I am working on responses. [...]

from Joshua Kennon

Stealth Wealth (Why America’s Rich Hide Their Money and Why You Should Practice Stealth Wealth Yourself)

In our discussion of how much money it takes to rank among the top 1% of wealth in the United States, we uncovered the fact that roughly 80 out of every 100 members of the “new elite” in the United States – those with at least $5 million to $10 million in liquid net worth [...]

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Attending Pat’s Family Night Visitation

This evening, I had an important family event come up that required me to recess myself from my previous plans.  My first cousin once removed (my mother’s cousin and grandmother’s niece) lost her battle with cancer on Tuesday.  She was 63 years old.  The visitation took place a couple hours away so four generations gathered [...]

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My Day In Pictures – Staying Home During a Winter Storm to Take Deliveries – Thursday, January 12th, 2012

There is a winter storm descended on the area, announcing itself last night with raging winds that ushered in snow flakes and ice.  The temperature dropped so low that it almost feels as if the cold is seeping into the house, radiating from the glass window panes, which hardly ever happens since the home is [...]

from Joshua Kennon

Sometimes, An Upgrade Is a Downgrade

Depending upon where you live, you may have noticed the blog design fluctuation in tests the past week or two.  Some of you were served a new version of the blog that was more graphic intensive but easier to navigate (or would have been, once it was fully rolled out).  I was fairly optimistic about [...]

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Mail Bag: You Are A Narrow Minded Prick

In a recent article published at About.com, a division of The New York Times, I addressed a significant group of readers who write to me asking how to handle their emotional inability to watch the value of their stocks fluctuate.  The article, You Don’t Have to Invest in Stocks to Get Rich, provided some alternative [...]

from Joshua Kennon

Every Month, 200 Fresh Roses Are Delivered to My Home (A Lesson on How to Save Money)

I’m working on an essay about how to run your home like a business to maximize your purchasing power when I realized my actions today provide a great didactic example of how I work in my day-to-day life.   Earlier, I did something that I’ve wanted to do since my childhood.  I’m not sure why [...]

from Joshua Kennon

Mental Model: Addition Through Subtraction

Sometimes, in order to make something better, or work more effectively, you must take something away.  This principle is called addition through subtraction.  The theory behind addition through subtraction is that reducing components and complexity can add value if you make something: Simpler Faster More reliable More profitable Less expensive (though not always; certain strategies [...]

from Joshua Kennon

The Family Has Finally Selected Some of the Artwork for the Home And Pierre Bouillo’s Fortune and the Child Won

I very rarely get exhausted.  Right now, that’s how I feel.  I’m beyond exhausted. Between the office and the home renovations, I’m ready to sleep for a few days at this point.  It’s been years since I’ve been this ready to get certain projects behind me but I’m running against the six-month deadline I established [...]

from Joshua Kennon

Late Night Dividend Calculations Over Tea and Downton Abbey

I’m reviewing the dividend distributions for the last fiscal year over a cup of tea with cream and sugar and buttered toast, working out the final capital retention policies for one of the companies.  Striking a balance between opportunity costs is particularly hard because, as the saying goes, “when it rains, it pours”.  Suddenly, very good [...]

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Once Upon a Time Set Design Makes Me Think the Evil Queen Was Spying On Our Home Renovations

This Sunday New Year Day, the family slept in until 11 a.m. and then decided to do brunch again, having enjoyed the Belgian waffle party so much the other night, as we watched movies and television shows on Hulu Plus and Netflix, starting with Once Upon a Time, an ABC family show.   The premise [...]

from Joshua Kennon

President Obama Signs Law Allowing Indefinite Detention of Americans Citizens Without Constitutional Protections Such as a Trial By Jury

Stop what you are doing because this is one of the most important things you will ever read.  If you have any knowledge or sense of American history, you will understand why.  It doesn’t matter if you are conservative, liberal, libertarian, or politically agnostic, this effects you. President Obama just signed his version of John [...]

from Joshua Kennon

Some Things In Life Shouldn’t Have a Price Tag

There is a great story about legendary British Prime Minister, Winston Churchill, that goes something like this: At a dinner party one night, a drunk Churchill asked an attractive woman whether she would sleep with him for five million pounds. “Oh my, Mr. Churchill … I suppose, but we would have to discuss the terms,” [...]

from Joshua Kennon

A Memory of Long Ago and a Way to Reflect It In My Life Today

After the Belgian waffle party tonight, once the goodbyes had been said and the lights turned off, I set to work on the personal projects that need to be accomplished.  This led to me, in the silence of my living room, remembering something that brought me tremendous joy. When I was 18 years old, my [...]

from Joshua Kennon

My Day In Pictures – Belgian Waffle Party

We had an impromptu Belgian waffle party tonight at the house and it was awesome.  The recipe came from America’s Test Kitchen and included buttermilk, seltzer water, sour cream, sugar, salt, unbleached flour, eggs, vegetable oil, and a host of other items to create a waffle batter mix that was crispy on the outside and [...]

from Joshua Kennon

Reflections on 2011 and Setting the Agenda for 2012

Fiscal 2011 was huge for us.  I feel like it went too quickly because we didn’t get everything finished we wanted but in terms of progress toward our ultimate goals, it was very good personally and professionally.  The companies grew, profits were up, the family expanded, there was quite a bit of travel, and this blog, [...]

from Joshua Kennon

My Night Equals Rocking Out to Dixie Lady, Reviewing More Home Upgrades, and a Ton of Work That Needs to Get Done in the Next 72 Hours

There has been a lot of progress today but it’s been disorganized.  There will likely continue to be because I am in the middle of some projects I haven’t discussed on the site and very well might be up until four or five in the morning.   Right now, I’m sprawled out on a blanket [...]

from Joshua Kennon

Mental Models Applied: Don’t Fall for the “Too Nice to Use” Trap

Of the many stupid things to do in life, one of the most foolish is to the fall for the “too nice to use” trap.  The moment I hear anyone, whether friend or family member, business associate or stranger, talk about how they “never use” something, I want to grab them by the shoulders and [...]

from Joshua Kennon

I Got Around the Joining the Nespresso Club and I’m a Total Convert to the Whole Nespresso System

Back in June, I picked up one of those new Nespresso machines that Nestle was touting so heavily in their annual report.  With my schedule, the projects, work, and extra-curricular activities such as this blog, I hadn’t gotten around to ordering the Nespresso pods or setting up an on-going subscription because I wanted to do taste [...]

from Joshua Kennon

If The Price of Gas Matters to Your Family Budget, You Are Doing It Wrong

The Lesson: It is not the cost of a gallon of gasoline that counts.  It is the inflation-adjusted cost of a mile driven that matters. As I read the Chicago Tribune, I came across an Associated Press article called Gas Takes Its Biggest Bite Out of Family Budget In 30 Years.  That piece states: When holiday travel [...]

from Joshua Kennon

Maintaining Sacred Spaces By Carving Out a Secret Places and Rituals for Yourself and Your Family

If any of you remember the television show Boston Legal, each episode ended with two main characters, great lawyers Denny Crane and Alan Shore, having drinks and cigars on the balcony discussing the cases and events of their day.  They were best friends that took time to block of a private area of their lives that [...]

from Joshua Kennon

The Three Ways of Making Money In Business

There are three ways to make a lot of money in business.  Typically, most businesses that are successful at making money do it in one by focusing on one of three models.  They either: Sell many things at a low price Sell few things at a high price Sell many things at a high price By way of example, let’s look [...]

from Joshua Kennon

The Simplest and Best Explanation Of the United States Budget and National Debt You Will Ever See

This is the simplest, most straight-forward explanation of the United States budget and national debt situation I’ve ever seen. Brilliantly done, whomever is responsible.

from Joshua Kennon

My Day Has Been Frustrating But At Least the Crystal Cabinet Was Delivered This Afternoon

My day so far hasn’t been very productive.  Everything was thrown off because a possible impending snow storm, plus I had to be home to sign for a delivery for the crystal cabinet.  Throw in some computer problems with a near brand-new MacBook Pro, and I finally decided to spend a good part of the [...]

from Joshua Kennon

To Earn More In Dividend Income Than 50% of the World Earns Working Each Year Requires Only 1,074 Shares of General Electric

Between work, my writing commitments, personal Christmas events, parties, get togethers, the upgrades at the house, and my home life, I haven’t been paying much attention to the stock market lately.  This weekend, my father mentioned that General Electric had raised its dividend, again, to 17¢ per share, per quarter (indicating 68¢ per share, per [...]

from Joshua Kennon

Mail Bag: I’m Thinking of Buying a House in Florida. What Should I Consider?

When looking at home purchases, it is best to compare median household income to median home price for a local economy, then factor in a few other projections.  Though not perfect, it improves your odds of avoiding serious trouble.  There are also a few other things that are worthy of consideration, including future interest rates, [...]

from Joshua Kennon

Mail Bag – Taking on a Small Business Partner for a Startup

For all you small business owners or start-up aspirers out there, this question might be of interest to you because it involves taking on a small business partner. Mr. Kennon, I need help and I’ll try to keep it brief. Background:  I’m a 36 yr old stay-at-home mom of 3 (all under 5). We are [...]

from Joshua Kennon

Mail Bag: What Ever Happened With Erma?

This mail bag installment references an earlier post dealing with the only person I’ve had to remove from my life in the past 10 or 15 years. In fact, it was only one of two or three people I’ve ever had to stop associated with due to a fundamental difference in values, beliefs, and behaviors. [...]

from Joshua Kennon

Mail Bag: Does Owning Nice Things Make You Materialistic?

This mail bag installment deals with materialism and being materialistic.   Hi Joshua, lately you’ve been posting a lot about fancy dinnerware, cookware, furniture, etc. I know that these purchases are a minor portion of your yearly income, so it’s on par with a poor college student going to Red Lobster instead of eating ramen [...]

from Joshua Kennon

Mail Bag Marathon Over Cherry Crush Soda

Today was full of Christmas obligations for friends and family for the Kennon household.  We just returned from a Christmas potluck dinner that included a three-hour eight-person Scattergories competition, after which I ended up playing on the floor with a six-month old making all manner of sounds and watching him laugh.  I decided to pour [...]

from Joshua Kennon

I Managed to Settle on the Fine China and Sterling Silver Flatware Sets

In between pizza and Coca-Cola and an afternoon of work, I managed to get away for an hour or two to approve the final flatware and china purchases for the before-I-turn-30-next-year home upgrades.  For now, I’m dividing things into a core “fine” set for dinners, holidays, and regular family meals, and a “casual” set for [...]

from Joshua Kennon

Brown Glazed Coffee Mugs and Life Satisfaction

If you were born in the 1980′s or earlier, you might remember those wonderful brown glazed coffee mugs that made an appearance at everywhere from comfortable hotels to old fashioned diners.   Those brown glazed mugs were forged from the zeitgeist and aesthetic of the time.  Companies like McDonald’s were the pride of America; an [...]

from Joshua Kennon

Not All Cultures Are Equal, Not All Cultural Diversity Is Good

Steven Pinker makes a number of lucid, persuasive arguments about culture and its role in human development in his masterpiece The Blank Slate.  He posits: The phenomena we call “culture” arises as people pool and accumulate their discoveries, and as they institute conventions to coordinate their labors and adjudicate their conflicts.  When groups of people separated by [...]

from Joshua Kennon

I Added a Staub Coq Au Vin Dutch Oven Cookware Piece to the Collection … and I Blame Susan of Between Naps on the Porch

Williams-Sonoma and other retailers continue to plot against me by having more unbelievable sales during the six-month life renovation project.  After the Mauviel copper pots, the Ruffoni pots, the cut lead crystal, the barstools, the Edwardian sofa and reading chairs, the tea makers, the coffee machine, the espresso machine, et cetera, purchased mostly over the [...]

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The Lord’s Bright Blessing and Razzleberry Dressing from Mr. Magoo’s Christmas Carol

For the past couple of nights, I’ve been finishing up some work at home and we’ve been enjoying a non-stop Christmas movie marathon; everything from classic adaptations of A Christmas Carol to saccarine sweet Hallmark family Christmas movies to cartoons from generations past. Tonight, I am publishing a few About.com articles and was watching Mr. [...]

from Joshua Kennon