Welcome!

On August 6, 2010, in Uncategorized, by Jim Wood

Welcome! This is the blog for From Ramen to Riches: Building Wealth in Your 20s. Our topics will focus on spending, saving, and investing your money to build wealth for the long term. This forum is primarily aimed at people in their 20s, but the personal finance concepts we’ll cover are relevant for anyone. The conversation […]

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New Book: From Ramen to Riches: Finding a Job in Your 20s

On October 15, 2012, in Uncategorized, by Jim Wood

We are delighted to announce the publication of “From Ramen to Riches: Finding a Job in Your 20s.” Working in a rewarding job is one of life’s greatest joys. Contributing in a meaningful way to something you care about and being compensated fairly for your efforts generates a wonderful sense of satisfaction and happiness in […]

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James Wood’s 2/9/2012 Nightly Business Report appearance now available

On February 21, 2012, in Media interviews, by Jim Wood

“From Ramen to Riches” author James Wood had his third appearance on PBS television’s Nightly Business Report Thursday, 2/9/2012. You can watch the video here.

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Author James Wood appearing tonight on PBS TV’s “Nightly Business Report”

On February 9, 2012, in Media interviews, by Jim Wood

“From Ramen to Riches” author Jim Wood is scheduled to appear this evening (Thursday 2/9/2012) on PBS television’s “Nightly Business Report.” The segment usually airs the last few minutes of the program. Check your local listings for broadcast times.

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“Rule of 72″ appearance on PBS television’s Nightly Business Report

On December 14, 2011, in Media interviews, by Jim Wood

Jim’s latest appearance on PBS television’s Nightly Business Report was broadcast Thursday 12/1/2011 where he discussed the “Rule of 72″. The video is available at pbs.org. The segment starts at 22:20 into the broadcast.   Return to home>

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“From Ramen to Riches” now available for Nook

On December 2, 2011, in Uncategorized, by Jim Wood

In addition to the paperback and Kindle editions, “From Ramen to Riches” is now available as an eBook for Barnes and Noble’s Nook e-reader. Return to home>

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Save money with holiday LED lights

On November 28, 2011, in Saving money, by Jim Wood

The holiday season is once again upon us. One of my family’s favorite things to do is wandering around our neighborhood admiring all the beautiful lighting displays. All those bulbs can result in a gigantic increase in your December electricity bill if you’re still using the old fashioned incandescent bulbs for your holiday decorations. You […]

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Jim’s PBS Nightly Business Report appearance now available

On November 7, 2011, in Media interviews, by Jim Wood

Jim appeared on PBS television’s Nightly Business Report on November 3, 2011. His commentary for the “Kids and Cash” segment is available here.

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Avoiding bank debit card fees

On October 7, 2011, in Saving money, by Jim Wood

I’ve been watching with interest all the media reports about several big banks adding new fees for debit card use. Here’s how I look at it. The banks have every right to charge those fees. They are profit-seeking companies doing what companies do — go after profit. As a customer, I can choose to accept […]

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PBS Nightly Business Report “Kids and Cash” Appearance

On October 3, 2011, in Media interviews, by Jim Wood

Jim recently taped several guest commentaries for the Nightly Business Report’s “Kids and Cash” series. The first one will air Thursday, October 6th, on your local PBS station.   Return to home>                

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Jim’s Payoff.com Money Management Guest Post

On September 19, 2011, in Managing money, Media interviews, by Jim Wood

Jim recently penned a guest post for the blog hosted by Payoff.com. It’s a summary of his “Ten Principles of Personal Money Management.” They are also giving away one copy of From Ramen to Riches every day this week on their Facebook page. Check it out!   Return to home>

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“From Ramen to Riches” profiled in the Burlington Free Press

On September 13, 2011, in Media interviews, by Jim Wood

A nice article on From Ramen to Riches just appeared in the Burlington Free Press (Vermont). Details here. Return to home>

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Jim’s KZSU appearance now available online

On September 7, 2011, in Media interviews, by Jim Wood

Jim’s 8/22/2011 appearance on Stanford University’s KZSU radio station is now available. This was a very fun one hour segment that blended author interviews with a selection of songs that highlighted several of the topics discussed in From Ramen to Riches. To listen, click on this link.  

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Jim appearing on Stanford’s KZSU

On August 18, 2011, in Media interviews, by Jim Wood

Tune in Monday 8/22/11 at 12pm Pacific time for an entertaining full-hour appearance on Stanford’s KZSU Lunch Special show. This is a very fun show where authors are asked to bring a playlist of several songs that reflect various parts of the book. The show alternates between guest interview and musical interludes. Live streaming is […]

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Sears Kidvantage Club

On August 15, 2011, in Saving money, by Jim Wood

If you’re the parent of a young kid, you’ll like this one. I was recently commenting to a friend that my 9-year-old son is always blowing through his shoes well before he outgrows them. Doesn’t matter whether the shoes are national brands or generic store brands. If he gets 8 weeks out of them, he […]

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“This Week in America” radio interview with Jim Wood

On August 11, 2011, in Media interviews, by Jim Wood

 Jim was recently interviewed on the nationally syndicated radio show, “This Week in America,” with Ric Bratton. The audio for the appearance is  available here.       Return to home>

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Jim appearing on KTOE “Morning Blend” show

On August 3, 2011, in Media interviews, by Jim Wood

If you’re an early riser, tune in Friday 8/5 at 6:20 a.m. Pacific time to hear Jim’s live interview on KTOE radio (Minneapolis area). Streaming audio available at http://www.ktoe.com/.

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Saving on phone, TV, and Internet

On August 1, 2011, in Discounts, Saving money, by Jim Wood

Telecommunications expenses (phone, Internet, cable TV) can add up over time. In fact, it’s easy to spend over $100/month on this stuff if you’re not careful. That same amount invested in the stock market over 50 years could be worth over $1,000,000. (To find out why, see Chapter 2 of From Ramen to Riches for […]

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How to Make a Budget

On July 21, 2011, in Managing money, Spending money, by Jim Wood

Ah, budgeting. I will confess right now that this is one of my financial character flaws. I’ve never had the patience for dealing with budgeting details “by the book.” Let me explain how it is supposed to work. Then, I’ll tell you what I do for myself. Find a piece of paper or start a […]

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Why I love Southwest’s Herb Kelleher

On June 23, 2011, in Uncategorized, by Jim Wood

I noticed that Southwest Airlines is celebrating their 40th birthday this week. This made me think of their founder and Chairman Emeritus, Herb Kelleher. Herb is a lawyer by training who started the company in 1971. He spent the first few years of the company’s existence in court, fighting off competitors who were trying to […]

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Jim’s TV appearance on Fox Channel 5

On June 23, 2011, in Media interviews, by Jim Wood

On 6/20/2011, Jim appeared on Fox Channel 5 TV in San Diego. He discussed why he wrote “From Ramen to Riches,” and how easy it is for most 20-somethings to retire a millionaire, if only they develop good habits with their money and start early. The interview is available here.

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Jim to appear on Fox Channel 5, San Diego

On June 17, 2011, in Media interviews, Uncategorized, by Jim Wood

If you’re in the San Diego viewing area, please tune in to Fox Channel 5 (KSWB) TV on Monday, June 20th. Jim will be interviewed at 9:20am.

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Seeing the USA: RV or the Prius?

On May 23, 2011, in Spending money, by Jim Wood

You can see some amazing things on a driving trip to the Grand Canyon. Even on the freeway, you run into stuff that just takes your breath away, such as the image below: RV towing Hummer Now, I’m all for people spending their money in whatever ways make them happy. However, my financial brain just […]

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“From Ramen to Riches” named a Finalist for another book award

On May 10, 2011, in Uncategorized, by Jim Wood

We are happy to announce that “From Ramen to Riches” was just named a Finalist in the Next Generation Indie Book Awards for 2011.

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“From Ramen to Riches” wins Living Now Book Award

On April 25, 2011, in Uncategorized, by Jim Wood

We are delighted to announce that “From Ramen to Riches: Building Wealth in Your 20s” recently won a silver medal in the prestigious 2011 Living Now Book Awards in the Finance/Budgeting category. Details may be found at IndependentPublisher.com

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San Diego Metro’s article on “From Ramen to Riches”

On March 8, 2011, in Media interviews, by Jim Wood

San Diego Metro magazine has a nice article on “From Ramen to Riches” in the March 2011 edition. (Linked with permission.)

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Starbucks Discounts, Deals, and More

On February 15, 2011, in Saving money, by Jim Wood

I admit it. I love Starbucks®. (And no, they haven’t paid me to say nice things about them.) At the same time, I discovered long ago that my coffee habit can be potentially expensive. I’ve mostly cut out the cappuccinos in favor of their drip brew coffee. I’ve also reduced the frequency of my visits. […]

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Saving Money on Gas

On February 8, 2011, in Saving money, by Jim Wood

If you are a typical driver, a $.15 per gallon reduction in the price of gas will save you about $100 a year. There are many ways to avoid paying top dollar, including: Pay with a credit card that offers a cash rebate. For example, the Costco American Express® card rebates 3% on gasoline purchases. […]

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How much does your car really cost?

On January 21, 2011, in Saving money, by Jim Wood

Have you ever wondered what your car is costing you over a driving lifetime? Chapter 7 of “From Ramen to Riches” covers this in detail, but here are some of the highlights: The $6,745,171 automobile collection: Someone who leases a new $20,000 car every 3 years pays out about $600 per month in auto expense when you […]

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“From Ramen to Riches” now available for Kindle!

On January 20, 2011, in Uncategorized, by Jim Wood

From Ramen to Riches: Building Wealth in Your 20s is now available in a Kindle edition with a list price of $7.99. Other eBook formats will be coming soon.

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Keeping Your New Year’s Financial Resolutions

On January 4, 2011, in Managing money, by Jim Wood

This is the time of year where many people have made resolutions to trim debt or increase savings. Now comes the hard part — keeping those resolutions! I see this every year at my gym. The place is packed in January with new members who have resolved to lose weight. On one hand, I’m happy […]

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BigBizShow appearance Thursday 12/23 1:10pm PST

On December 22, 2010, in Media interviews, by Jim Wood

Jim will be appearing again on the BigBizShow, live in the TV studio. Tune in tomorrow 12/23 at 1:10pm Pacific time. See http://bigbizshow.com for details.

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Jim Wood to appear on the “Big Biz Show”

On December 16, 2010, in Media interviews, by Jim Wood

Jim Wood, author of “From Ramen to Riches,” will be appearing on the nationally syndicated “Big Biz Show” tomorrow (Friday 12/17). Tune in at 1:10pm Pacific time!

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Saving on airport parking

On December 14, 2010, in Saving money, by Jim Wood

It’s the holidays and many people are getting ready to hop on a plane and go over many rivers to Grandma’s house. (I don’t know about you, but going by horse and sleigh doesn’t sound half bad, unless you have to cross a continent to get there. But I digress.) Frequent travelers know that airport […]

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Read San Diego newspaper interview with Jim Wood

On December 9, 2010, in Media interviews, by Jim Wood

The Pomerado Newspaper Group just published an interview with Jim Wood, author of “From Ramen to Riches.” The story covers Jim’s reasons for writing the book, an overview of the content, and some of the key learnings that are available for readers. The article is available here. (The link to the article is posted with […]

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Your Money Philosophy

On December 4, 2010, in Managing money, Uncategorized, by Jim Wood

Have you ever taken the time to think about your relationship with money? Money is embedded into every nook and cranny of our lives. Not just physically, but philosophically.  At the extremes, why do some people forsake money for a life of serving the poor and others relentlessly accumulate it even when they have more […]

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Jim’s TV interview available for viewing online

On December 3, 2010, in Media interviews, by Jim Wood

San Diego Channel 6 just posted a video clip of Jim’s recent interview. The subject was “Avoiding a Holiday Financial Hangover.” We also briefly discussed “From Ramen to Riches.” Visit: http://www.sandiego6.com/. Click on “Videos”. Go to the 3rd column (“Guests”) and click on the “Holiday Financial Hangover” segment. It’ll only be there a couple days, so […]

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“From Ramen to Riches” reader gets into action!

On November 29, 2010, in Managing money, by Jim Wood

I recently came across this delightful post from a reader who has really taken the “From Ramen to Riches” message to heart. Check out: http://rainbowsandflats.com/2010/11/28/year-two/

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Personal finance holiday gift ideas

On November 25, 2010, in Uncategorized, by Jim Wood

The 2010 holiday shopping season is in full swing! I would be remiss if I didn’t post some of my favorite personal finance resources for you to consider as gift ideas. First up, here are some of my favorite books for learning about personal finance and getting into action on what you’ve learned: null Next […]

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Tips for avoiding a holiday financial hangover

On November 20, 2010, in Saving money, by Jim Wood

With the money-spending madness of the holidays coming up, here are a few tips for avoiding a financial hangover come January, when all the bills start piling up. 1.    Make a list, and check it twice. Write down everyone you have to buy for, from the mailman to your Mom to your best friend. Once you […]

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Haircuts for under $1, tip included

On November 12, 2010, in Saving money, by Jim Wood

Those who have read From Ramen to Riches know that I pride myself on getting the things I want for the least possible price. I started on this quest years ago while living in San Francisco. We wanted to figure out a way to get by on one income so that my wife could stay […]

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“Search Inside” activated

On November 6, 2010, in Uncategorized, by Jim Wood

Amazon has just activated the “Search Inside!” feature for From Ramen to Riches: Building Wealth in Your 20s. You can now take a close look at the front and back cover, as well as browse some of the interior pages on Amazon.com. Visit the book’s Amazon listing here.

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What is a bond?

On November 5, 2010, in Investing money, by Jim Wood

A bond is debt issued by a corporation or a government entity. Think of it as an IOU. Bonds are issued in various amounts (called “face value”). They are sold to investors with a promise to pay interest at fixed intervals.  Assuming the investor holds an individual bond to the end of its life (when […]

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Love your local credit union

On October 29, 2010, in Managing money, Saving money, by Jim Wood

I’m sure you’ve seen all the ads from Behemoth Bank about how you’re a part of their big happy family, right? Forget all that. The business on the other side of the table is trying to extract as much money as they can. Your goal is to get what you want and pay as little […]

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Funny quotes on borrowing money

On October 27, 2010, in Quotes, by Jim Wood

“Creditors have better memories than debtors.” — Benjamin Franklin “Acquaintance: A person we know well enough to borrow from, but not well enough to lend to.” — Ambrose Bierce Return to home page>

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Beating Behemoth Bank at their own game

On October 22, 2010, in Discounts, Spending money, by Jim Wood

You may recall from last week’s post that I reviewed a credit card offer. This offer was a partnership between a major hotel chain and a mega bank (fondly referred to as “Behemoth Bank”). The basic idea was, “get our card, get free hotel nights.” As we discovered last time, if you’re not careful with […]

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Credit card applications: the fine print

On October 16, 2010, in Managing money, Spending money, by Jim Wood

I received yet another glossy credit card solicitation in the mail this week. Normally these go straight into my recycling bin, but since I’m now blogging about personal finance, I thought it might be interesting to read the details of this offer. The solicitation was a partnership between a major bank (whom I will fondly […]

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Now available on Amazon.com!

On October 13, 2010, in Uncategorized, by Jim Wood

From Ramen to Riches: Building Wealth in Your 20s is now available on Amazon.com! It will be available through other major booksellers by the end of November. For more information, please visit: http://www.fromramentoriches.com/buythebook

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Sneaky gas station tricks

On October 8, 2010, in Managing money, Spending money, by Jim Wood

I’ve recently been stopping at a national-branded gas station with fairly inexpensive gasoline that’s on the way home from my son’s karate school. The first couple of times, I was getting ready to pump the gas while daydreaming about something else. As I reflexively went to hit the “87-octane” button, my hand stopped in a […]

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Getting a gym discount

On September 30, 2010, in Discounts, Managing money, Spending money, by Jim Wood

An establishment that does not post prices online or have a rate sheet for review is inviting you to negotiate. Health clubs and gyms are frequent perpetrators of this approach. Never take their first offer. For example, when we first enrolled in a local health club a few years ago, we told the sales associate […]

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How long does it take to double your money?

On September 17, 2010, in Investing money, Managing money, by Jim Wood

Have you ever wished you had a handy rule of thumb to estimate how long it will take to double your money? Or perhaps you would like to figure out how damaging inflation can be over the long term? Let me introduce you to the Rule of 72. Here’s the formula:   72 / interest […]

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