Willis Carrier’s 3-Step Method for Dealing with Worry

I was going through Dale Carnegie’s book notes and came across this advice from Willis Carrier for dealing with worry:

Step I. Analyze the situation fearlessly and honestly and figure out what is the worst that could possibly happen as a result of this failure.

Step II. After figuring out what is the worst that could possibly happen, reconcile yourself to accepting it, if necessary.

Step III. From that time on, calmly devote your time and energy to trying to improve upon the worst which you have already accepted mentally.

If you haven’t read Dale Carnegie’s two classics “How to Win Friends & Influence People” and “How to Stop Worrying and Start Living”, I highly recommend them. Great stuff.

I Am Addicted to Audible

I have been an Audible member for a couple of years now. I used sporadically for the first year and a half. Once we moved and got settled into our new house, I really started using the program during the time when I had to drive my kids to school (17 miles one way). Let me tell you: it’s addictive! Once we got our son a truck to drive to and from school, I cut back on my listening time, but still use it on my morning walks.

According to the app on my iPhone, I am 132 hours away from becoming an Audible Master.

“What is a Master,” you ask? It’s someone who has listened to LOTS OF HOURS of Audible:

5 Hours – Newbie
50 Hours – Novice
100 Hours – Professional
300 Hours – Scholar
500 Hours – Master

The numbers in that list are hard to find. I googled them and couldn’t find anything definitive, so I emailed Audible and they were kind enough to email me the information.

Audible is awesome. Through the app, I have been able to listen to a lot of books. Here is what I have been through so far (I don’t “read” fiction):

“How Adam Smith Can Change Your Life” by Russ Roberts
“The Art of War” by Sun Tzu
“Economics in One Lesson” by Henry Hazlitt
“New Deal or Raw Deal” by Burton Folsom
“Think Like a Freak” by Steven Levitt and Stephen Dubner
“The Success Principles” by Jack Canfield
“The Magic Ladder to Success” by Napoleon Hill
“The 48 Laws of Power” (abridged) by Robert Greene
“The Power of Ambition” by Jim Rohn
“The Practicing Mind” by Thomas Sterner
“The Five Elements of Effective Thinking” by Edward Burger and Michael Starbird
“Influence: Science and Practice” by Robert Cialdini
“The Virgin Way” by Richard Branson
“Knowledge and Power: The Information Theory of Capitalism and How it is Revolutionizing Our World” by George Gilder
“Zero to One” by Peter Thiel with Blake Masters
“Leaders Eat Last” by Simon Sinek
“Jack: Straight from the Gut” by Jack Welch with John Byrne
“The Little Gold Book of YES!” by Jeffrey Gitomer
“Be a People Person” by John Maxwell
“Mastery” by Robert Greene
“As a Man Thinketh” by James Allen
“The Personal MBA: Master the Art of Business” by Josh Kaufman
“The 21 Indispensable Qualities of a Leader” by John Maxwell
“The Difference Maker” by John Maxwell
“How to Stop Worrying and Start Living” by Dale Carnegie
“Silos, Politics, and Turf Wars” by Patrick Lencioni
“Basic Economics” by Thomas Sowell
“The Love Dare for Parents” by Stephen Kendrick, Alex Kendrick, and Lawrence Kimbrough
“Titan: The Life of John D. Rockefeller, Sr.” by Ron Chernow
“Sacred Marriage” by Gary Thomas
“The Power of Habit” by Charles Duhigg
“The Compleat Gentleman: The Modern Man’s Guide to Chivalry” by Brad Miner

One cool thing cool is some of Audible books are linked to the Kindle version of the book, which allows the reader to switch back and forth between the Audible and Kindle version of the book without losing the place. The technology is called “whispersync for voice” and it is pretty cool. Also, a lot of times the Audible version can be added to the Kindle purchase for a reduced price.

A basic Audible account is $14.99 per month, which allows for one download per month. There are other account options available.

The only downside to Audible is now I have less time to listen to music.

Credit-Related Q&A and GIVEAWAY

The other day I received an email from an AFM reader with several questions related to bankruptcy and credit reports. Since credit-related questions are one of my weaker areas, I have made it a habit to send those types of questions to author and MSN Money columnist, Liz Pulliam Weston. She sent me back a response which I have posted below.

Reader Questions:

I would like to know how long negative credit especially bankruptcy can be listed on an individuals credit report?

I also would like to know when the credit reporting timeline clock for individuals filing bankruptcy starts and ends? i.e. Is it reported from when an individual officially files with the court a bankruptcy?

Or is it when the bankruptcy discharges the bankruptcy case?

Liz’s Response:

Most negative items can remain on a credit report for seven years (actually, seven years and 180 days from the date the account first went delinquent). Bankruptcy is one of the exceptions; that can remain on your credit reports for 10 years from the date of filing.

Interestingly, the bureaus tend to report Chapter 7 (liquidation) bankruptcies for the full 10 years, while Chapter 13 (repayment plan) bankruptcies are typically reported for only 7 years from the date of filing. Given that most Chapter 13 repayment plans take three to five years to complete, this means that all mention of the Chapter 13 could disappear within a few years after you finish your repayment plan.

How long the black mark remains should be only one of the factors you consider, though. You may be better off overall starting fresh with a Chapter 7 liquidation than struggling with a Chapter 13 repayment plan (particularly since about 2/3 of Chapter 13 plans “fail”–they aren’t completed or they wind up turning into Chapter 7s). Anyone considering bankruptcy really needs to talk to an experienced bankruptcy attorney about his or her options.

Hope that helps!

Thanks, Liz!

As a show of appreciation for Liz’s help, I thought it would be cool to give away two sets of Liz’s books. Two lucky winners will win one copy of each of the following books:

Easy Money: How to Simplify Your Finances and Get What You Want out of Life*

Your Credit Score: How to Fix, Improve, and Protect the 3-Digit Number that Shapes Your Financial Future (2nd Edition)*

As usual, the winners will be randomly-selected. And, as usual, I have two rules:

1. You must be a resident of the U.S. or Canada, and…

2. You can only enter ONE TIME!

Good luck!

*Affiliate Link