Recently in Happiness Category

On What it Means to Be and Live As An Italian American Today

By Vincent Scordo on August 18, 2010 | 10 Comments | 1 TrackBack

(photo: my grandfather and his sons in mid 1960 Pellegrina <Bagnara Calabra> Calabria)

The year was 1997 and I was a college junior applying for a prestigious fellowship for first generation college students. The fellowship provided funds and a mentor to guide and prepare students for graduate work in the humanities and sciences. The fellowship had strict academic and social-economic requirements. On the socio-economic side, students were expected to be first generation college students, fall on the lower end of the income scale, and come from an ethic group that were/are underrepresented at US graduate programs.

In my view, I was qualified for the above fellowship and was excited to apply. The question as to whether I was from a distinct ethnic group (underrepresented in academic circles) was not an issue in my mind (the last I checked most prestigious universities had faculties brimming with Waspy sounding last names and not surnames ending in vowels). After all, I did not learn to speak English until I was 5 and thought the American side of my Italian-American moniker was just a way of acknowledging that we breathed the air in New Jersey and not Calabria; I spoke, ate, lived amongst, and thought like an Italian, so I was a true Italian.

(photo: typical Italian wedding in Pellegrina, <Bagnara Calabra> Calabria)

When I got the call from the faculty advisor alerting me that I would not be selected for the summer fellowship program, my immediate reaction was rage. Not because I had been denied, but rather because I had been denied for not being from an appropriate "ethnic group"; at least the groups that were currently in fashion as being minorities in the US and in turn at Academic institutions. I pleaded my case with the advisor and asked, for example, how many of the students that had been selected spoke a second language or had been to the region/country that deemed them to be a minority, for example? The answers that came back were disheartening and I felt betrayed.

The incident made me think long and hard about what it means to be an Italian-American living in the United States today. Unlike Geremio and his son Paul in Pietro DiDonato's classic novel Christ in Concrete, being an Italian American in New York at the turn of 20th century did not come with the added effort of proving one's status as an American with Italian ancestry. After all, Geremio's son Paul was Italian, although born in New York (like the author who was born in West Hoboken). No one at the turn of the 20th century would accuse Paul as being an American, rather he was an Italian who happened to be born to recent immigrants from Italy. Suffice it to say, if such an academic fellowship existed in Paul's time, he would have surely qualified as being part of a true ethnic group.

(photo: my grandmother's family posing as though they were well off - they were not)

So, what has happened to the Italian-American in the 90+ years since DiDonato's seminal novel? Has the Italian-American remained truly unique with strong ties to what it means to live like an Italian? Or have the images of Sonny, Tony Soprano and the cast of Jersey Shore penetrated our media driven society so deeply that to be Italian in America is solely about being involved in crime, putting gel in one's dark colored hair, and consuming tomato sauce? What has happened to the attributes of the Italian American that were so pronounced and vivid in DiDonato's America yet so dull and mis-represented in our current epoch? In short, what has happened is as simple as unadulterated assimilation (some self induced and some pushed by the larger American society) of the negative kind that leaves the current Italian American in a state of watered down culture and misrepresentation (in short, a sort of sudo Italian-American).

All is not lost for the modern Italian American, however, and there are glimpses of living the Italian way in America that are centered on core attributes like practical living, working hard, recognizing quality food and products, and just, plan, living well. I see first and second generation Italian Americans shunning the popular, and myth driven, portrayals of the goofy, unintelligent, "Tony" (don't let the literary critics convince you he was seminal TV figure) and "Sonny" characters and argue strongly that being Italian in America is just that; namely, living like a typical Italian that has been transplanted to North America (with a focus on food, family, friends, and enjoying deep and meaningful experiences every day).

How do you live as an Italian in America today?

Recipe: Grilled Veal Rib Chops with Chinese Eggplant and Feta and Tomato Salad

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By Vincent Scordo on July 25, 2010 | 2 Comments | 0 TrackBacks

Many personal finance gurus will tell you to head to your local food market with only certain items in mind and shop only by price. Moreover, the penny pinching crowd would argue that the purpose of buying, and in turn consuming, food is to be as efficient and cost effective as possible.

As you probably guessed, I don't subscribe to buying food based on price or coupons available. Rather, I purchase food based on freshness, quality, and value (don't interpret value as buying the lowest priced item, this behavior is illogical!). I place a high value on the happiness and pleasure I derive from eating well and, in turn, I often spend a bit more than average on fresh produce, good quality meats and fish, bread, wine, dairy, eggs, etc. In terms of eating out, I do cringe on spending a ton of money on restaurant food (even the variety that garners accolades from Michelin and the NY Times). For example, I recently dined at the Blue Hill restaurant in New York (famed for their association with Blue Hill Farm and locally produced items) and came away disappointed in terms of the quality of the ingredients, preparation and outlandish cost (in my mind, there was no value in dining at Blue Hill because the cost did not justify the overall experience).

With the above observation in mind, I put together a leisurely Sunday meal of grilled veal loin chops with Chinese eggplant and feta and a tomato salad. I also had a few pieces of thinly sliced prosciutto and figs to hold me over during the cooking process.

I prepared the locally raised veal chops on an outdoor grill with a generous amount of salt and pepper. I use an old fashion Weber grill with wood charcoal (I think this is important). The Chinese eggplant was grilled as well and tossed with feta cheese, lots of freshly ground pepper, kosher salt, olive oil, and chopped parsley. Finely, I assembled a tomato salad with some very local tomatoes (from my parent's backyard), local basil, local cucumber, red onion, and lots of olive oil, salt, pepper, and dried oregano from Calabria!

We consumed our meal with a glass of Pinot Noir from California (not my first choice, again, based on value, but it was a nice choice considering the oppressive heat and the grilled veal).

How to Lead a Happy Life or Live Like an Italian

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By Vincent Scordo on April 5, 2010 | 0 Comments | 0 TrackBacks

(photo: the beach in Bagnara Calabra - pure happiness!)

At times, I think the political and cultural columnist David Brooks has a little bit of Mediterranean blood flowing through his body (regardless of his Anglo-Saxon appearance). Time and time again Brooks puts together elegant arguments on the paradox of American living, why gun control is necessary, or, say, how most people struggle to find happiness. While I don't agree with every opinion Brooks' holds, I did enjoy a recent New York Time Op-Ed where he argues that we, as a society, should spend more time chasing what truly makes us happy versus material wealth . The article got me thinking about how many of Italians I know have high levels of happiness (especially the ones living in Italy) and why they so easily grasp how to lead a good life.

It's no secret that Europeans, generally speaking, have a higher quality of life than most Americans. The "European way of life" is known throughout the world as emphasizing family, food, and overall well being, while here in the United States the perception is that the more money one makes the better off he or she will live. Are the Europeans just freaks of nature high on multiple cups of espresso; afterall, isn't a flashy career more important than an afternoon siesta and a pre dinner aperitif?

The above questions beg the ultimate question; namely, why wouldn't everyone want to live like an Italian (or their Europeans neighbors)? Are we too focused on capitalist models here in the United States training our best and brightest to become investment bankers versus well rounded individuals who have a passion for leading a happy life?

Prescribing how to lead a happy life is akin to telling someone how to dress or which religion to follow; that is to say, most folks don't want to be told that they would be happier only if they did X, rather they want to discover their own path to smiling each and every day.

My advice is to listen to the latest psychological research on what makes people happy throughout the world and follow a little bit of Brooks' advice. In turn, here's a quick summary of how Brooks interprets the latest empirical findings from the new field of "happiness studies" and why living the "Italian way" may be more beneficial than chasing the almighty dollar (or living like an American):

1. "Marital happiness is far more important than anything else in determining personal well-being. If you have a successful marriage, it doesn't matter how many professional setbacks you endure, you will be reasonably happy."

2. "Poor nations become happier as they become middle-class nations, but once the basic necessities have been achieved, future income is lightly connected to well-being."

3. "The US is much richer than it was 50 years ago, but this has produced no measurable increase in overall happiness. On the other hand, it has become a much more unequal country, but this inequality doesn't seem to have reduced national happiness."

4. "Winning the lottery doesn't seem to produce lasting gains in well-being. People aren't happiest during the years when they are winning the most promotions. Instead, people are happy in their 20's, dip in middle age and then, on average, hit peak happiness just after retirement at age 65."

5. "People get slightly happier as they climb the income scale, but this depends on how they experience growth. Does wealth inflame unrealistic expectations? Does it destabilize settled relationships? Or does it flow from a virtuous cycle in which an interesting job produces hard work that in turn leads to more interesting opportunities?"

6. "The daily activities most associated with happiness are sex, socializing after work and having dinner with others. The daily activity most injurious to happiness is commuting. According to one study, joining a group that meets even just once a month produces the same happiness gain as doubling your income. According to another, being married produces a psychic gain equivalent to more than $100,000 a year."

7. "If you want to find a good place to live, just ask people if they trust their neighbors. Levels of social trust vary enormously, but countries with high social trust have happier people, better health, more efficient government, more economic growth, and less fear of crime (regardless of whether actual crime rates are increasing or decreasing)."

8. "Most of us pay attention to the wrong things. Most people vastly overestimate the extent to which more money would improve our lives. Most schools and colleges spend too much time preparing students for careers and not enough preparing them to make social decisions."

9. "Interpersonal bonds are critical to being happy day in and day out...overall, economic and professional success exists on the surface of life, and that they emerge out of interpersonal relationships, which are much deeper and more important."

There have been a slew of new and recently published books on happiness including Stumbling On Happiness by Gilbert, The Politics of Happiness by Bok, and the Hidden Wealth of Nations by Halpern. Here's an interesting talk from Halpern, which includes some great data/findings on happiness levels throughout the world.

Why Italians Love to Talk About Food Book Giveaway and Interview

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By Vincent Scordo on January 25, 2010 | 21 Comments | 0 TrackBacks

(photo: couch's whiting or blue whiting with red onion, peppers, and tomatoes)

(UPDATE 1/31/09: Contest is closed. The winner is Evan Lucas! Thanks to everyone for participating.)

In Elena Kostioukovitch's preface from the book, "Why Italians Love to Talk About Food" Elena asks, "And why is that you identify particular historic moments with references to food?" The "you" Elena is referencing are the intelligentsia of the Italian landscape (i..e, scholars, journalists, historians, political figures, etc.) but she might as well be talking about the seamstress from Naples or the fisherman from Calabria. You see, for most Italians, food is the identifier of moments (hence the phrase, "Parla come mangi" or Speak the Language of Your Food); it bonds Italians, allows them to experience pleasure, and defines what it means to lead a good life. In America, we consume material or money, while in Italy its inhabitants eat wonderful foods to "live well and soundly" (and it's the most basic and pure form of consumption).

(photo: is that drying pasta or makeshift window curtains?)

(photo: the long process of harvesting saffron)

I have to confess, I was fascinated with Kostioukovitch's book well before I sat to read through the 450 pages. My fascination wasn't, of course, centered on how a people could disregard economic or material status for the sake of food, but, rather, why anyone would want to chase the good life in any other manner beyond eating well. You see, I learned early only to associate both important events in my life, as well as the mundane, with wonderful food. For example, I associate my first trip as a boy to Italy with the taste of cold pressed extra virgin olive oil from Nonno Latella's small olive orchard outside of Bagnara Calabra. The olive oil was different from the corn oil my Italian family consumed in the States (we couldn't afford olive oil in those days) and I quickly identified our trip to Calabria with the green nectar from many years to come. And it wasn't just olive oil that formed strong references to key events in my life. I still associate, vividly, the smell of frying dough with Christmas Eve (zeppola), boiling pasta water with Sunday mornings (linguine with a rabbit ragu), sun dried tomatoes , provolone cheese, and salami to my parent's Saturday evening dinner parties, and strong stove top espresso with my mother's breath.

Kostioukovitch does a great job of documenting the same sort of food associations I mention above in her 19 chapters on Italian regions, history, and folklore. I was particularly interested in her chapter on Calabria and it didn't disappoint. Here are some interesting food and cultural tidbits on the southern Italian province of Calabria from Kostioukovitch:

(photo: I'll take the zucchini blossoms!)

1. In some parts of Calabria, "farmers still read omens from a pig's entrails when it is taken to slaughter, as the Etruscan haruspices did." I remember when Nonno Latella used to slaughter a given pig from his stock (about every 2 years or so) and the ritual was very solemn (he didn't do much reading or perform any rituals; rather he was focused on slaughtering the pig).

2. Calabrian women danced and shouted incantation to drive away evil spirits while kneading dough. Both my Calabrian born grandparents kneaded plenty of dough and I don't remember them shouting, unless of course I came into the kitchen with dirty hands. However, I do remember Nonna Scordo telling me I had very poor hip movement when I kneaded (she said I had no rhythm or style and she was right).

(photo: grilled seafood in Veneto)

3. The sign of the cross is traced on loafs of bread before they enter the oven. I'll have to ask Zia Giovanna if she performs this ritual in her bakery each morning. My hunch is that she may on occasion trace a few crosses, given her belief that one can make major life decisions by placing a single drop of extra virgin olive oil in a bowl of water and then asking the oil to move in a certain manner (when she did this for me as a small child I thought we were playing the Oiju board game; I was slapped quickly and told to sit still).

4. Calabria was part of Magna Craecia (or "Greater Greece" from the eight century B.C. until the third century. The Romans arrived in Calabria 500 years after the Greeks and loved the local wines! After the Roman empire fell, "Calabria was ruled by the Germans, the Goths, the Lombards, the Byzantines, the Normans, the Franks, the Swabians, the Saracens, the Spanish, and the French." The 'ndrangheta (Calabrian mafia) begin flexing it's muscle from 1850 onwards and some say they've never loosened their vice grip on the region (a sad fact for the people of Calabria).

5. Cistercians monasteries dominated much of Calabria and their traditions continue to this day, such as practicing an ascetic way of life and deep reliance on agriculture.

6. An annual swordfish sagra (festival) is held on the first Sunday in July in Bagnara Calabra. The sagra features wonderful food and is best known for the blessing of the ontre or traditional fishing boats used to spear swordfish. The is one cool event and it takes place only 10 minutes outside of Pellegrina (Pellegrina has it's own sagra focused on wheat)

7. Calabrians are famous for the diversity of their eggplant crop as well as reliance on fava beans, broad beans, and white beans. Many fish are consumed from the Tyrrhenian and Ionia seas including swordfish, tuna, sardines, and herring. See my article on 10 Ways to Cook Like An Italian here.

(photo: boar head next to boar salami?)

Contest / Book Give Away

In order to spread the concept of leading the good life via food (or at least talking about it!) the folks over at Farrar, Straus, and Giroux hava agreed to send a free copy of Why Italians Love to Talk About Food to one lucky Scordo.com reader ! Here's how you can enter the Why Italians Love to Talk About Food book giveaway contest:

- Prize Giveaway includes one (1) copy of Why Italians Love to Talk About Food.

- What you need to do to enter: 1. leave a comment under this post on a favorite food memory (from any region of the world) and how you indentify it to a major life moment or event (or even an important person or relative) and 2.sign up for the Scordo.com What's New Newsletter here (if you're already a newsletter subsriber than you'll need to sign up as a fan of Scordo.com on Facebook here).

- Only one entry per person please.

- The contest is open until 12 midnight on 1/30 and a single random user will be picked via Random.org (sorry contest only open to folks from the US given shipping logistics). The winner will be announced immediately on Twitter (so please follow me) and on Scordo.com by 5PM on Monday, 2/1.

(photo: book cover)

- Please use a valid email address when leaving a comment so I can contact you just in case you're the lucky winner (I'll need your shipping address).

- Farrar, Straus, and Giroux will send out the book to the single contest winner during the week of 2/1.

Finally, Elena was nice enough to answer a few of my questions on Italians and food. You can find the full interview below and also purchase the book via Amazon:

1. How did you first get interested in the relationship a typical Italian has with his or her food?

It was soon after I began my formal study of Italian language and culture in the University of Moscow. Suddenly I realized that there's a multitude of topics, either abstract or practical, which are closely linked to a food themes of in the mind of Italian people (and of people of Italian origins of course). An Italian says about his or her mother that 'she's as gentle as a bread', about a friend: 'we're like mac and cheese' ('cacio con i maccheroni'), and about a nasty person: 'his pumpkin (head) obviously lacks salt (brains)'. So the more I've been reading Italian journalism, poetry, novels, even philosophy and academic books, the more obvious it was: in order to understand Italy and Italians, one definitely should familiarize herself with secrets of their culinary code.

2. What surprised you the most about how Italian interact and relate to food?

I just love their comprehensive approach to food! A dish can't be 'delicious' or 'bad' per se, it's to be evaluated in context of the entire feast menu. To really enjoy spaghettis, one should take into account a dish that was served before it (antipasto), what was a main dish, and what followed (a dessert). Such an approach suppose that a customer is not only able to evaluate a palatability of every single dish, but also understands what sequence/combination of dishes might be considered prefect, good, adequate, bad, or disastrous. I should affirm that literally every adult Italian has got - subconsciously in the majority of cases - this culinary culture, that he or she has adopted from the very childhood, both in family and in social institutions (kindergarten, school, college etc.)

Yet to say that Italian teenagers today - and especially in big cities - gradually absorb an American-style eating traditions: hamburgers, French fries, hotdogs, Coca-Cola. It is possible that in a decade or two Italian culinary rituals and traditions will sink into degradation and will be swept away by a globalization.

3. Americans get a bum wrap for their relationship with food (not to mention the typical American diet); are things changing in the US? Will we ever see regional cooking make a comeback in the US?

Well, you tell me! I strongly hope that there's a possibility for that in the US, but let your readers express their own judgments. I will enjoy reading them. (Scordo comments: well, what do you think of Elena's question, will American ever be food obsessed in the way Italians live and eat?)

4. Your book is not a typical cookbook; was it difficult to talk about food with no references to recipes?

The main subject of my book is not a food in itself, but what Italians SAY about it. To a certain degree, my book is a systematized collection of testimonies of Italians who cook, sell, describe, picture, enjoy and eat Italian food. To put it the other way, my book's main focus is not on recipes, but on existing general concepts and their roots.

5. Is there a particular regional, Italian, cuisine that you like best?

My favorite regional Italian cuisine is definitely that of beautiful Toscana (Tuscany). Its food is full of energy and dynamism essential for Tuscan character. I adore the taste and look of fresh Tuscan products: vegetables, bread, fish, meat, and not to forget about its inimitable wine. I would highly recommend a freshly-made fiorentina beef stake (only a couple of minutes on grill), a cazzimperio salad made of fresh vegetables and special seasoning (vinegar, olive oil, local spices). Tuscan bread is in the base of the world-known bruschettes. As for a local fish courses, made of Tuscan fish, so rich in flavor, my favorite is a delicious cacciucco soup, which according to a local tradition should be prepared of at least five different kinds of fish (as many as Cs in its name, cacciucco), though the more the better.

6. Of the southern regions of Italy, is there a dish or food philosophy that you enjoyed researching or were surprised by?

As almost every newcomer, I was amazed by a practice of meridionale (southerners) to eat a wet uncooked fish or seafood just from the net, seasoning it only with salt and lemon juice and washing it down with chilled white local wine. This viand turned to be just as tasty, nutritious and delightful as French oysters accompanied by Chablis wine or Japanese fugu sushi with Japanese beer; the only difference is that the last two are world-famous luxury food, while only few connoisseurs outside Italy know the divine taste of a freshly caught octopus, sea urchin and frutti del mare accompanied by chilled Fiano wine (brought to Apulia by Angevins some 800 years ago). To tell you all the truth, I believe that one should try these delicacies only in Italy, combining a joy of gourmet with other esthetic pleasures Apulia with its magnificent seashore and plenty of old Norman castles offers.

Immigrant Personal Finance Philosophy - WiseBread.com

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By Vincent Scordo on September 21, 2009 | 0 Comments | 1 TrackBack

I've often stated here and to many friends directly that recent immigrants have an intuitive personal finance philosophy that not only embraces the pillars associated with the American dream but also runs counter to the deeply entrenched, and ugly side, of modern American life: consumerism and materialism.

Some friends get the above point quickly and agree, while others look at me like I'm an alien and think: "this guy is crazy, why wouldn't everyone want an iPhone, a shiny black German sedan, and several Coach handbags?!"

Well, to answer the question from my skeptical friends I wrote an article for Wisebread.com entitled, "10 Life and Money Lessons My Immigrant Parents Taught Me". Read the article and pass it along (via Digg or Tip'd).

5 Life Skill Hacks for Everyone

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By Vincent Scordo on August 28, 2009 | 0 Comments | 0 TrackBacks

Living life is joyous on occasion, rough going sporadically (hopefully), and even keel on most days. The aforementioned goes for superstar power brokers and well endowed professional athletes - life, as a matter of fact, is ever changing and a challenge (and mundane at times).

There are, however ,a few simple tips you can keep in mind to optimize life (the tips, of course, are not exhaustive and are meant as a discussion starter while you're showering in the morning pondering those great thoughts):

1. Thinking On Your Feet

Thinking on your feet is quite possibly the No. 1 practical skill set of all time. The skill set can aid in a multitude of scenarios from an impromptu discussion on the value of the product line you manage with the company CEO to the ability to argue a position or answer a question in your college seminar. Thinking on your feet can also land you the ideal job you are looking for because, at the heart of it, a job interview is a sort of spontaneous conversation where the hiring manager is evaluating your ability to speak and formulate ideas. Simply put, if you can't think on your feet you might as well be flipping burgers as the local McDonalds.

2. Meaningful Small Talk

If you distill small talk to it's very essence, it's about being able to handle social situations well. A person who does small talk well can relate to just about anyone (from the local sanitation worker to the academic at the local college) and quickly situate himself in a social setting and make friends, communicate that he or she is a trustworthy individual, and ultimately put the group or person he / she is engaged with in a calm and agreeable manner.

3. Take Care Of Your Body, Teeth, and Hair

OK, I'm currently typing this blog entry in shorts, black socks, and with a little bit of scruff on my chin (read: I haven't shaved in two days), yet I'm telling you it's vital that you take your appearance seriously (I'd look better if our 6 week old wasn't dominating our life currently). I've heard that half of life is merely showing up and looking good; that may be true, but the looking good part should consist of daily exercise, dental hygiene (read brush your teeth, floss, and visit the dentist), regular haircuts and the use of hair product (I'm serious), and respectable, but not too showy and ostentatious, clothing. You convey a ton to people well before you open your mouth, so get the easy part right and simply look good (it's not hard).

4. Be Flexible...With Everything

Like thinking on your feet, the ability to be flexible with life is key to living well. As much as planning and thoughtful analysis is part of my DNA, I see the ability to quickly change directions in life and adapt to shifting professional, family, and social situations as an even more vital skill set. I think the aforementioned skill set is especially important for younger folks in their twenties and early thirties when patience and seeing the big picture can be difficult (contrary to popular belief, I think older folks are better capable and equipped to change or adapt).

5. Keep your family Close (i.e., You Can Have Too Many Friends)

I've written on the virtues of maintaining a strong connection to mom and dad time and time again. And it's not just mom and dad you want to keep close, but also sisters, brothers, in-laws, uncles, aunts, and cousins. Maintaining strong family ties creates a real world social network that can help with renovating your home, raising your 1st born child, dealing with difficult life decisions, and just living life in general. At the risk of sounding like a right leaning conservative, family is vital. Now, I do include a few close friends within my family group, but I don't have too many close friends because it takes time to nurture friendships (and let's face it, you can't raise a family, work, stay close to mom, dad, and sis, and maintain relationships with 50 "close" friends).

Best Places to Live: The Suburbs And Where You Should Live

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By Vincent Scordo on August 13, 2009 | 0 Comments | 0 TrackBacks

Photo: Hadley, MA

I've always had romantic notions about living in the country. I've dreamed of waking up early and going for long walks and surveying the many acres on my "property" ; maybe encountering wild life and foraging for wild mushrooms (just like Mayle's book, "A Year in Provence"). I would certainly take refuge in the fact that I could not see another neighbor for miles and enjoy fresh country air entering a rustic, but chic, 19th century farmhouse (renovated with all the necessary modern conveniences, of course). Our country home would be near the sea as well, so I could enjoy the water at the beginning of each day.

The above is just a dream, of course. And the fact is that suburbanites in American are significantly more satisfied with their living arrangements than are residents of cities, small towns or rural areas, according to a Pew Research Center Social & Demographic Trends. Our family lives in a relatively small town (about 9,000 citizens) just 10 minutes outside of New York City in New Jersey. Our town has a suburban feel with many trees, sidewalks, lawns/ivy, and an active, family-oriented, base population. The proximity to a major city, however, does skew the town feel a bit towards the urban, at times.

Choosing where to live is a major life decision and folks are usually influenced by several factors including:

- price of homes.

- quality of schools.

- proximity to job(s).

- proximity to other family members / where they grew up.

- safety.

- available social/recreation activities

- available commercial outlets (shopping).

Photo: Harris Farm, Hollis, NH

As I see it, living in a suburban/urban area has many advantages and while I dream of the rural life enjoyed by my Italian family in Calabria, I could not spend the majority of my time in the country (at least at this stage of my life). Living in a suburban area allows me to:

1. Enjoy my extended family and good friends.

2. Enjoy a short commute to my job (and the availability of potential future jobs)

3. Access to good food/recreation/commercial establishments (I can play tennis, go food shopping, and find virtually any product I may need all within ten miles of my home).

4. Access to different people and cultures (in today's world, if you can't speak the language of diversity and feel comfortable with folks from different part of the globe you might as well have no skill set)

5. Access to educational resources (this not only means good schools for our kids, but also access to libraries, universities, lectures, etc. for adults; if you stop learning, then you stop living)

The suburbs do have disadvantages and I'm sure the average New Yorker, for example, will rattle off many reasons why they're happy to exist only on the Island of Manhattan, but there does seem to be some difficulty in living, long term, in an urban environment (such as cost <see Free Money Finance's article on cities and cost of living>, proximity to other people, space, etc.).

I'll stick to the Burbs for now and aspire to short stints by the sea and the chic countryside.

In Defense of Making Your Own Food or Julia Child Was Right

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By Vincent Scordo on August 5, 2009 | 0 Comments | 0 TrackBacks

How is it that we are so eager to watch other people browning beef cubes on screen but so much less eager to brown them ourselves? For the rise of Julia Child as a figure of cultural consequence -- along with Alice Waters and Mario Batali andMartha Stewart and Emeril Lagasse and whoever is crowned the next Food Network star -- has, paradoxically, coincided with the rise of fast food, home-meal replacements and the decline and fall of everyday home cooking.

From Pollen's article, "Out of the Kitchen, Onto the Couch"

Amen, Mr. Michael Pollen! It seems that everywhere you go people are talking about food; that is to say, how much they love eating it, seeing it on TV, paying for it, reading about it, dreaming about it, etc. However, what folks aren't doing with food is actually making it.

Recently, I had a two day Facebook comment thread discussion with offthebroiler.com food writer, Jason Perlow. Jason and I have never meet but I have great respect for his knowledge of food and, of course, the great content on his site. Our discussion on Facebook centered on pizza, specifically, the value and quality of buying pizza from a high end pizzeria (viz., Pepe's Pizzeria in New Haven, CT). Jason was arguing that Pepe's achieves ethereal pizza status (given "char" and "pliability") because of several factors, the most important being the wood burning oven the pizzeria uses (wood burning ovens can get very hot, to the tune of 800 degrees and I've had the pleasure of standing next to my Aunt Giovanna's olive and chestnut wood feed oven in southern Italy). My position was/is that, as Pollen states, good food is about the making and not just the eating and that you can achieve great results by making food at home (including pizza).

Eating out at restaurants, other than the occasional splurge, is in my view a royal waste of money (not to mention the health effects). Now, don't get me wrong, I do consider myself a foodie (as much as I hate the word), but I take great pride in making my own food (using great ingredients and knowing where they come from), saving money, and spending a evening enjoying the end product with a glass of wine and my family.

Much of what Pollen is talking about above puts food consumers in the US in a mindset that believes, "I must eat at that famous restaurant" or I could never do what the Iron Chef on the Food Network is doing because I lack a restaurant style stove or truffles from northen Italy. This type of thinking has led to a huge decline in how much time we spend "preparing" our own meals; as Pollen states:

Today the average American spends a mere 27 minutes a day on food preparation (another four minutes cleaning up); that's less than half the time that we spent cooking and cleaning up when Julia arrived on our television screens. It's also less than half the time it takes to watch a single episode of "Top Chef" or "Chopped" or "The Next Food Network Star." What this suggests is that a great many Americans are spending considerably more time watching images of cooking on television than they are cooking themselves -- an increasingly archaic activity they will tell you they no longer have the time for.

You need time to cook good food and there's no way around it (not massive amounts of time in the long run because most home chefs become very efficient at prep and cooking over time). You don't need fancy equipment to make great food at home, but you do need good ingredients and plenty of variety (this is why many individuals turn to high fat foods and restaurant eating). You also need to experiment with different types of cuisine and see preparing food at home as a long term investment in both your health and general happiness/quality of life.

So, become a true foodie and start cooking at home and eating out less. Take the money you would use for a mediocre meal out and buy fresh, high quality, ingredients and prepare a meal at home (I swear you'll be impressed). I also promise your quality of life will improve and, yes, if you have a Pepe's Pizzera around the corner from you you can order a large pie on occasion!

Here are some related links from Scordo.com

How to Start Cooking at Home

Don't Eat Out, Cook at Home

Essential Kitchen Equipment

How to Shop at the Local Market

Typical Stuff I Buy at the Local Market

Homemade Pizza Dough

Homemade Tomato Sauce

Wine 101

Optimal Human Survival: Six Tips on How Grown Ups Can Control Their Own Destiny

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By Vincent Scordo on July 30, 2009 | 3 Comments | 0 TrackBacks

At no point in one's life do humans bare so little responsibility for their own survival as they do when they are swimming around in their mother's amniotic fluid (Ron Currie Jr.). Think about it: newborns need to learn how to digest liquid, take in oxygen and pump out carbon dioxide, dispose of their waste, learn how to sleep, and draw a distinction between night and day.

I recently witnessed, single handedly, the marvel that is human adaptation when our son Tommaso entered the world on July 19th. Thankfully, Tommaso took his first gulp of oxygen and liked it (he did it again and then let out a gentile scream - the kind that gets attention but is considerate of others). Thereafter, Tommaso took survival into his own hands and begin to move to stay warm, tensed his muscles to support his body, and, generally, reacted positively to things he liked (e.g., his mom's breast) and negatively to items he found offensive (e.g., a nurse's cold hands) - his way of communicating via behavior (sorry Noam).

Little Tommaso's survival skills got me thinking about how many adults do not take their own survival (read happiness/career/love life/financial matters/etc.) into their own hands. Survival has a slightly different definition for most adults, however it seems, for example, that most adults do not decide what career they end up in, or how much money they'd like to earn, or how fulfilled they'd like to feel.

Learning how to survive or controlling one's destiny (literally speaking) may be the number one practical skill set of all time (followed closely by "thinking on your feet" and "social skills"), yet there doesn't seem to be any available advice on how to, overtly, optimize one's life or survive with great efficiency. In turn, here are a few tips to help the non-infant live a highly optimized life (who says you can't be re-born!):

1. Listen with one part of your brain and forget with the other. Listening to other people and receiving a top notch education is critical, but the key is to interpret what people are telling you via your own filter. Lazy people take advice and run with it, smart people process out the crappy part of any piece of advice and keep the gold nuggets.

2. Risk and failure are not bad things. You can't survive optimally without getting lots of things wrong or risking a comfortable situation for a more lucrative end game.

3. Don't be normal. This means trying your hardest, for as long as possible, to avoid lusting after "stuff" (car, house, electronics, etc.), getting married, reproducing, and the mass media.

4. Aspire to be stubborn. Persistence, otherwise known as stubbornness, will keep you going when your competitor quits and when all your friends are telling you to abandon a business idea / innate passion / etc.

5. Listen to your body. First reactions to an idea or person are often correct (the whole "gut reaction" thing, well, it's pretty much correct). Sweaty hands and a quickening of your heart rate may mean you've thought of an excellent idea or just made a huge mistake becoming partners with Joe Smith.

6. Stay scared. Fear rules in the wild and calm and peaceful animals get eaten first. Now, you probably don't have to worry about getting eaten by your neighbor if you fall asleep watching a re-run of Curb Your Enthusiasm, but being highly aware of your career goals, happiness level, competition, etc. can all contribute to controlling your own destiny.

Conspicuous Consumption and Personal Finance: Do You Work To Want Things?

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By Vincent Scordo on July 9, 2009 | 1 Comment | 0 TrackBacks

Daniel Gross, a columnist at Newsweek and Slate, published a recent article in the NY Times Book Review that argued that today's über rich are essentially leisure-less tycoons who need to work around the clock. Gross goes on to argue that, "among Type-A, self-made members of the leisure class (read ultra wealthy), there's a sort of reverse prestige associated with leisure."

The idea that leisure is bad and that "conspicuous consumption", or spending only to build prestige, should be avoided comes out of Thorstein Veblen's 1899 classic, "Theory of the Leisure Class". For Veblen, writing during the peak years for Standard Oil and U.S Steel (the first billion dollar corporation), the rise of a social class concerned only with consumption wasn't a sign of progress it was, as Gross states, "a relic of barbarism, and evolutionary step from feudalism, and hence, un-American."

Veblen saw the equivalent of today's Bill Gates and Warren Buffet as individuals who contributed very little to society and who were focused more on acquiring wealth and leading a lavish lifestyle than giving money back to society, for example (of course both Gates and Buffet give away much of the their wealth).

The Theory of the Leisure Class also raises many interesting questions in relation to personal finance such as:

1. How much money is enough to lead a good life? And if we all achieve personal finance freedom (i.e., no debt, adequate cash savings, a comfortable home, steady income streams, etc.), then what truly comes next (golf and a martini every day or running your own charity)?

2. Is it bad to chase money, acquire material things (things that truly have no utility, such as luxury vehicles, multiple homes, etc.), and not truly contribute to the community, and society, at large?

3. If your personal financial situation is negative what got you into that position in the first place? Did you think that consumption would make you happy and did you have a warped sense of what capitalism can truly offer, you, the individual?

Personal finance, at the end of the day, is as much about personal lifestyle (and views about consumption) as it is about saving money and leading a frugal life. In many parts of the world, a large home with all of the material side dishes isn't a goal (including advanced countries with well off citizens like Sweden and Norway), rather happiness and quality of life seem to supersede materialism and consumption.

How do you view consumption, working hard, and personal finance? Do you work to save in order to gain independence or do you aspire to, privately or publicly, to live like the good old American tycoons of the past?

Don't Be Stupid: When It's Not Appropriate to Be Frugal

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By Vincent Scordo on March 24, 2009 | 3 Comments | 3 TrackBacks

Apologies for the short hiatus, life gets in the way of posting at times but I'm fully re-charged and ready to dispense some tips! Today I'd like to look at when it's not appropriate to be frugal; after all, you don't want to put yourself in a zero-sum game situation because you've become a mindless pragmatist! Here are six areas where it doesn't pay to be frugal (both in terms of quality of life and ROI):

Food

Cheap food is bad because it usually tastes awful and has poor nutritional value. My food philosophy is simple: eat high quality food and it will make you feel rich. For a quarter of the price of a nice meal at a restaurant I can purchase top notch ingredients and prepare a multi-course meal, including a great bottle of wine. I splurge on fruits, vegetables, meats, fish, cheese, breads, pastries, and coffee.

Shoes/Clothes

There's really no way around it, good shoes are expensive. And you don't want to buy inexpensive shoes given that you will directly feel the impact. By good shoes I mean handmade dress shoes that have a leather sole, hand stitched seams, real leather exterior, and a quality heel. Handmade leather shoes often cost $250-$350 and should, technically, last a lifetime. Proper shoe maintenance includes buffing and conditioning the leather and using shoe trees. High quality shoes also have a replaceable leather sole and heel. As far as clothes, I think designer labels are a waste of money but I do believe in buying good quality dress pants, shirts, belts, socks, sweaters, coats, and suits. Suits and dress pants should be made of high quality wool and should have a thread count in the hundreds.

House Upkeep/Maintenance

All homes require upkeep, including recently constructed homes. Older homes are notorious for needing constant upkeep, but regardless of whether you live in an early 20th century foursquare or a modern, glass infused, home, you'll need to constantly deal with cracking sheetrock, aging roof, shifting asphalt, faulty windows, aging tile and appliances, exterior and interior molding and trim, landscape, etc. My simple advice: fix the important things as they happen and don't delay a repair. A simple fix on some exterior molding, for example, can prevent interior water damage and more serious repair down the road. If you need replacement windows, for example, look at all wood, low E double glass, replacement windows as opposed to cheaper old vinyl alternatives. Spend as much money as you can on quality materials without buying top of the line (for example, you probably won't make your money back on exotic marble from Brazil, but you'll certainly get ROI on a standard color granite).

Treating Family and Good Friends Well

Being stingy with family members or good friend is wrong headed and does not preserve relationships. I'm a big believer in developing social networks and treating the important people in your life with respect and kindness. A good life can't be lived alone or in isolation. Invest in people and you'll get great ROI!

Car Maintenance

I don't believe in spending a ton of money on a new vehicle, but I do recommend buying a slightly used vehicle (about three years old) and maintaining the vehicle until it becomes to costly to own (usually after about 10 years.). You'll also want to figure out the right time to sell your vehicle private party so you can maximize your profit and fund your next used car purchase. Proper vehicle maintenance includes routine oil/filter changes, belts, filters, liquid monitoring (transmission/brake/anti-freeze/etc. fluid), brake pads, spark plugs, rotors, exhaust system, tires, car washes, etc.

Life Experiences

Do you have an adventurous soul but do not travel because you can't stand the thought of moving a few thousand dollars out of your bank account to fund your strip to southeast Asia? Do you dream of hitting the perfect backhand to win a match but get queasy about spending money on tennis lessons? Do you wish you read Aristotle as an undergraduate but can't stand the thought of spending money on a college course at your local university? If you answered yes to any of the questions above, you may be sacrificing life experiences for the sake of saving money (or better yet, not spending money). It's one thing if you don't have the resources to try new things (you do not want to incur debt to pay for lessons of any kind or take on debt to feel the rush of a finely tuned German vehicle), but if you've been wise with your money and can splurge on new experience then you should go for it!

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If you want more ways to save money you should open a savings account. When you do you should find the best savings account rates and then select the bank that fits your needs. There are also the occasional banking deals that offer you bonuses for opening new accounts. You should pay attention to any current bonuses being offered when looking for a savings account.

Benefiting From The Recession

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By Vincent Scordo on February 24, 2009 | 5 Comments | 2 TrackBacks

(All photos: I posted the three photos above/below for a reason; namely, to demonstrate that, from a US perspective, my family members had a pretty tough life in 1950's - 60's Calabria. However, if you look beyond the conditions in the photos and through the linen shirts that acted as work uniforms, you see happy people in tight knit groups that are stronger and better prepared for recession, depression, unemployment, or anything else that life was throwing at them. Why is it that the well-off cannot, at times, deal with bad times <as is the case in US currently>)?

For most Americans the recession seems to be, and to borrow a marketing term, top of mind. You hear stories of the successful, white collar, executive being downsized because his product is being eliminated from the US market or of the blue collar assembly line worker driving to work one day to spend 8 hours in a factory and the next day finding out his plant has closed. These stories are not just consequences of the "economic downturn" but real life horror stories affecting millions of families in the US. Can anything positive come out of the current negative shift in the economy?

The short answer is yes. Here are 4 good things to look for:

1. People Become More Compassionate and Realize What's Truly Important

Just like after or during a war (think World War II) or after a major crisis (think 9/11) people tend to think about things more deeply and in turn become a bit more humanistic. Strangers hold doors open, city dwellers don't run into each other on the streets, co-workers are thankful for their jobs, etc. Folks realize family, good health, food, and a roof over their head is pretty nice, afterall (in brief, they realize what they have and not what they want or lack).

2. People Let Go

Many folks realize that, during tough times, they are truly not, always, in control. While you do want to control your own destiny, it's good for folks, especially younger adults who are only accustomed to good times, to struggle a bit and make due without luxuries and material things they once thought indispensable.

3. Frugality and Living Below Your Means Makes a Comeback

If you consume media, then you see local news, the New York Time, and the Wall Street Journal blasting messages about dismal corporate earnings, job cuts, horrific stock market results, and housing foreclosures every day. If you're a sensible person, you begin to cut back on extras, save more money, scrutinizing your bills for savings, re-doing your household budget, etc. In short, you become frugal and maybe even a little bit like your dad!

4. You Find Yourself

Like death or any tragic event, there's great lessons to be learned when bad things happen. A layoff can lead to finding your true calling and not settling for the career you stumbled into after college. Or seeing a brother or a good friend struggle may bring out altruistic talents you thought you never had; that is, more involvement with neighbors, community and family. Bad times can be like seeing a therapist (but for free)!

How to Beat the Winter Blues

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By Vincent Scordo on February 15, 2009 | 1 Comment | 0 TrackBacks

As a teenager, and then well into my late twenties, I didn't give any thought to the winter months and the brutal cold, lack of consistent sunshine, or the large amount of time spent indoors. However, now in my early thirties, I have a heightened sense of hatred for the late November through mid-March timeframe. There must be a neurotransmitter turned on when you reach the age of 32 or so that tells your brain, "the winter sucks, go find a warm place." Escaping to Florida or any place near the equator during the winter months is looking more and more appealing to me with every passing year. Nevertheless, don't despair; there are some anti-winter tips to be had!

There's no silver bullet when it comes to beating the winter blues, but there are some practical steps everyone can take to feel a bit better each and every day; here are five tips that I try to utilize on a daily basis:

1. Exercise

Go for a run, a long walk, or book a quick hour (during non peak times) at your local indoor tennis facility. You'd be amazed what exercise does for your brain and, in general, your outlook and psychological state.

2. Change Your Routine

It seems easier to get into a routine during the winter month because of the amount of time spent indoors and everyday tasks like getting up, making breakfast and coffee, leaving for work, driving back from work, figuring out what to do for dinner, etc. all seem amplified during the November - early March timeframe. Try and break up your routine during the cold weather months (change your office hours if possible, go to sleep a bit earlier, switch from coffee to tea, change your hair style, etc. - you're looking for any type of change).

3. Watch Your Diet, but Have Fun with Food

It's really easy to gain weight during the winter months given lower levels of exercise, cravings for fatty and carb-heavy foods, and, again, the lack of exposure to sunny conditions and warm weather. Try experimenting with different types of food with an emphasis on fruits and vegetables of the season (oranges, pears, broccoli, spinach, winter squash). Watch your meat intake during the winter months and try and focus on eating fresh fish and poultry. A glass of good wine and some dark chocolate will help, as well.

4. Socialize

Spending time with friends and family is a great pick me up in any season, but it's especially important to maintain social connections during the winter. Isolating yourself indoors can be real easy when it's 15 degrees outside, but make an effort to visit your family, go out for a coffee with friends, and maybe even organize a dinner party on Saturday night. Fight the urge to be alone!

5. Read (and Listen to Music) and Turn Off the TV

Reading is critical 365 days a week, but keeping your brain active during the winter months can help you feel stimulated and positive without spending a ton of money on a Caribbean vacation, spa treatment, or an expensive dinner out. I especially like reading fiction during the winter months because there's something wonderful about escaping with a good story when all you see outside is frozen ice and snow. Listening to music can also help, so fire up your iTunes collection and play something that makes you feel good (repeat as necessary).

Do you have tips that you use to fight winter depression?

Back to Basics: Classic Drink Recipes for the Recession

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By Vincent Scordo on January 26, 2009 | 1 Comment | 0 TrackBacks

60 Minutes ran a segment on Sunday night on DHL (formerly Airborne Express) and how they will be shutting down their entire US hub in Wilmington, Ohio. The job cuts in Wilmington alone will result in the lose of 10,000 area jobs. Moreover, NPR ran a similar story on Microsoft, Pfizer, Home Dept, Caterpillar all announcing job cuts (totaling some 67,000 jobs in a single day!).

Needless to say, the US is suffering through a very difficult time period (and in my humble opinion, it will, indeed, get worse). The current national jobless rate is at just over 7% (7.2% to be exact), consumer confidence is low, and consumer and business spending has crawled to a stop.

For many of us in our late twenties / early thirties, we've never seen a downturn in the national economy like we're experiencing today, yet many of my Gen X/Y peers seem to be handeling the situation well. Personally, I've turned to enjoying our home and the simple pleasures of being with my family and friends. I've been spending more weekends at home planning simple meals, watching old movies, reading forgotten books, and finishing projects in the basement. I've also learned to mix a few new drinks, which in moderation does help one forget about the high unemployment rates (and how low the thermostat is set to save a few bucks)!! So, here are a few drink recipes to try on a cold, and recession filled, night:

The Simple Daiquiri

- 2 ounces of white rum

- Juice of 2 limes

- 1 tablespoon of confectionary sugar

Combine the ingredients above in a stainless steel mixer with plenty of fresh ice. Give the mixture a good shake and pour into a traditional tumber glass. I love the tartness from the lime juice and mellow alcohol from the rum.

Red Martini Sweet Vermouth, Bombay Saphire Gin, and Soda

- 2 ounces of red, Martini, sweet vermouth

- 1.5 ounces of Bombay Sapphire Gin

- 2-3 ounces of club soda.

Combine the ingredients in a tumbler and add a handful of ice. This drink is nice before dinner and you could substitute the red vermouth with Campari for a classic Negroni.

Classic Gin Martini

- 2 ounces of Tanqueray Gin

- 1 ounce of dry, Martini, vermouth

- 2-3 green olives

Combine the ingredients (minus the olives) in a stainless steel mixer with plenty of fresh ice. Give the mixture a good shake and strain into a martini glass. Add the olives (preferably on a toothpick so you enjoy them while you drink). You can add less vermouth if you prefer your martinis dry. You can of course substitute Gin with vodka, but Gin is entirely more appropriate and the classic ingredient.

The above ingredient proportions are hardly exact, so please experiment with the appropriate amounts that suit your palette. Cheers!

Financial Stress and the Psychology of Money

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By Vincent Scordo on January 22, 2009 | 0 Comments | 1 TrackBack

Kiplinger's magazine ran an excellent piece in their February issue on how to cope with financial stress. The article highlighted six key tactics to deal with a shrinking portfolio:

1. Everything passes. Financial goings-on are cyclical, like most life events, so just wait out the negative cycles.

2. Exercise. Working out can help with any type of stress.

3. Know why type of investor you are and try to work through questions you have with financial advisor.

4. Don't watch the news. This is a no-brainer; if the news is negative not watching will help with anxiety about market conditions.

5. Stress is all about control so focus on your household budget and try to reduce spending.

6. Connect with friends, eat good food, and get back to basics. Going back to core activities can ground some people, so make sure you socialize and enjoy the simple things in life.

I agree with all six Kiplinger tips and, moreover, would advise folks to utilize the same tactics during good times as well. Conventional wisdom says that making money work for you is all about the numbers, stock market performance, and frugal living and while these factors are important, controlling money and leading a good life is mostly about getting the psychological aspects right.

Everyone Needs to Feel Wealthy or How to Live a Good Life Via Food

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By Vincent Scordo on January 9, 2009 | 7 Comments | 7 TrackBacks

Most people live beyond their means because they want to feel and be perceived as being wealthy. A Coach handbag or Mercedes-Benz sedan screams, "hey, look at me I can spend money and feel good about it!" Feeling good about buying stuff or a leading "high-end" lifestyle is not inherently a bad thing, afterall we all want to live well and be exposed to nice things (even your most extreme cheapskate feels this way - it's not a Western thing or a by-product of materialism, but rather just human nature).

However, there is a trick to feeling "wealthy" via not hopping on the luxury purchase bandwagon; that is, concentrate on items and things that don't have a high premium or cost of entry. So, for example, purchasing a luxury car or watch requires a large sum of money yet purchasing high end foods, although still a bit expensive, does not have the same high cost of entry. My parents, for example, have never driven a luxury car, worn designer clothing, or lived in a highbrow neighborhood, however they do spend a considerable amount of money on quality food each week. Eating well provides my parents with their own "luxury lifestyle" at a fraction of the price of most luxury goods.

I've adopted the same mentality in terms of food and I often splurge on local meats, organic vegetables, and delicious fruit. I also aim to buy fresh fish each week and enjoy quality cheeses, breads, and wine. Spending a bit more on food and wine each week makes me (and my family) feel as though we are living a good, high quality, life. And the bonus is that I'm not overextending my weekly budget or taking on any debt to buy our free range whole chicken or bottle of Southern Italian red.

So, try cutting back on obvious luxury buys like jewelry, cars, clothing, shoes, electronics, products that require a monthly fee, etc. and go high end on items that do not have a high price of entry. For our family, as I've said, that luxury item is food/wine. Specifically, here are some things that we buy each week that provide us with a luxurious lifestyle:

1. Organic fruits and vegetables (whatever is in season)
2. Freshly baked bread
3. Free range eggs (they taste better, really!)
4. Fresh, wild, fish
5. Free range, whole, chicken (which we have our butcher cut into parts for us)
6. Whole bean coffee (which we grind, per use, at home)
7. Organic grains
8. Pasta imported from Italy (so much better than stuff made in the US)
9. Italian tuna in olive oil (you'll never buy Starkist again!)
10. Freshly cured olives
11. Various cheeses from around the world
12. Italian Olive Oil
13. Wine (including the homemade variety)
14. Fresh herbs
15. Dark chocolate

In sum, don't be afraid to spend money on things that make you feel special (if you can truly afford the items) because life can quickly become bland and pointless without true, day to day, happiness. I do have a couple of caveats, however, before you treat yourself to some practical luxuries:

1., you should have no debt outside your mortgage,

2., you should have a 6-9 month emergency cash fund,

3., you should be fully invested in your company retirement plan (401K, 403b, etc.) and,

4., you should have a few outside investments in your retirement portfolio (index funds, mutual funds, bonds, exchange traded notes, etc.)

Bottom line is that you need to have your personal finance basics in order before adopting the above life philosophy.

What Money Can Buy

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By Vincent Scordo on January 2, 2009 | 3 Comments | 3 TrackBacks

They say that money can't buy happiness and I certainly agree. However, did you ever stop to think about what money can, indeed, buy?

Here is a list of ten things that money can help you buy:

1. Money can buy peace of mind. Do you have trouble sleeping at night because you are worried about bills or your current job status? Well having enough money in the bank to not worry about your job for a year or two will let you sleep like a baby.

2. Money can buy you comfort. Do you live in a small cramped apartment with two kids and neighbors above you constantly screaming? Money can allow you to put a 20 percent down payment on a comfortable, quiet, home in a safe neighborhood.

3. Money can buy you a reliable and safe car. Do you drive a late model vehicle that is constantly breaking down or in need of monthly maintenance? Is your vehicle equipped with anti-lock brakes, stability control, and at the least 4-6 airbags? Money can allow you to buy a quality used (or new) vehicle from a reliable manufacturer.

4. Money can buy you a future. Would you like to not work and live well at some future point? If the answer is yes, then money will let you prepare for a future without a boss and making income without working. In short, you can use money to buy stock, mutual funds, index funds, CDs, etc.

5. Money can buy you confidence. Do you swallow your pride and work for an organization or boss that you do not respect or just plain hate? Well, if you have money in a bank account money can give you the courage to walk away from a bad situation and start fresh.

6. Money can buy you the ability to give. Do you wish you could help a not so well off sister or brother or contribute to your local Red Cross? Well, money can help you be more charitable and giving.

7. Money can buy you time. Do you often find yourself wishing you could spend more time exercising, reading, learning to cook, traveling, spending time with family, et. al. ? Retiring early by way of making the right financial moves in life can give you the time to do the above.

8. Money can buy you nice food. Do you clip coupons to the point that you will not buy something you are craving? Do you buy sub par ingredients and generic store brands even when you know quality is poor? Money can help enjoy great meals (including wine).

9. Money can buy you experiences. Do you not travel because you're worried about airline fares and hotel prices? Do you decide often against a trip into the city to enjoy the opera and a glass of champagne? Money can help you expand your mind and bring you places beyond the town you were born in.

10. Money can buy you opportunity. Do you wish you could buy a home in today's economic environment because interest rates are low and home prices have been dramatically reduced? Do you wish you could buy GE stock because it's under $20 and inevitably will rebound to record highs in the near future? Money can help you leverage opportunities that would normally not be able available in ordinary times

How to Lead a Balanced Life or Live Like Warren Buffett

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By Vincent Scordo on December 5, 2008 | 1 Comment | 0 TrackBacks

There's something about Warren Buffett that makes me feel warm and tingly all over and it's not his net worth of $62 billion! Rather it's a combination of his personality, habits, and life philosophy. I first saw Warren Buffett on Charlie Rose (he and Charlie are very good friends) and become captivated with him from the get go (I remember thinking, how could this affable and happy Midwestern man be the world's richest person?).

Recently, I've started reading a new biography on Buffet by Alice Schroeder entitled, The Snowball: Warren Buffett and the Business of Life. Schroeder was an insurance analyst that covered Berkshire Hathaway (Buffett's company that basically buys other companies) and she got to know Buffett well over a number of years, so they collaborated on a rather bulky biography. Reading through the first couple of chapters got me thinking: if Buffett leads a frugal and thrifty life then why in the world isn't every other person in this country not living like him? Buffett's habits and life philosophy are classic "Millionaire (or in his case, Billionaire) Next Door"; here's a little about how he lives his life:

Should You Spend During Hard Times or Save Your Pennies

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By Vincent Scordo on November 24, 2008 | 0 Comments | 1 TrackBack

Many of the best personal finance blogs I read on a daily basis, including Get Rich Slowy (which Money Magazine called the most inspiring money blog today), The Simple Dollar, Free Money Finance, and Money, Matter, and More Musings focus on how to save money or lead a frugal life, however we often hear via the media that the US economy is tanking and that increased consumer, business, and government spending will be the only way back to more prosperous times. The logic is that some group needs to spend in order for the economy to grow, or with the current economic crisis, stabilize. And when consumers don't spend money on cars and LCD TVs (because of lack of funds or because they are simply being conservative) and corporations don't sign big contracts for services or equipment, the US economy grinds to a halt.

How Stress is Preventing You From Leading a Happy Life

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By Vincent Scordo on November 21, 2008 | 2 Comments | 2 TrackBacks

Every time I travel to Europe (especially outside of the big cities) I notice that the stress level tends to be much lower than what we have here in the US (regardless of city or town). Yes, big city folks tend to always be on edge (think of the typical New Yorker), but I've found folks from New Hampshire to Michigan and from Florida to Missouri to posses as much stress, albeit at a different level, than the typical city dweller.

The whole thing got me thinking, can one really live a practical and cost conscious life if stress is present? I'm not talking about occasional stress that is associated with a job or family, rather I'm talking about the constant stress that keeps you up at night or prevents you from enjoying the weekends or a nice meal.

I used to work a pretty stressful job in a competitive industry and after a day at the office I didn't want to handle any of the practical living things I've been blogging about on Scordo.com; in fact, at the end of day all I wanted was a glass of wine and some food (preferably the kind that I didn't have to make myself). Now, removed from the hyper-competitive industry and working a more sane job, I find time to cook, read, work on the house, and be with my family (all at the level that I want).

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Recently in Happiness Category

On What it Means to Be and Live As An Italian American Today

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