There was a lot of positive response to my post two weeks ago about living carlessly for a year, so today we'll look at my financial situation and how I've been living with a very meager incoming cash-flow for the past year.

Though a little bit of money flowed in here and there via various freelance writing gigs and advertisements, it was by no means equivalent to a full-time salary. Over the past two months my incoming cash flow has increased more and more each day, but there's still a story to tell from the previous ten months.

Resigning in a Recession

One year ago I resigned from my full-time job as a Senior Tax Administrator at State Street Bank. While my time at State Street was beneficial and lucrative, it simply wasn't what I wanted to do for the rest of my life. Armed with that knowledge and a hefty savings account I turned in my resignation letter and looked to the future.

A lot has already been written on why starting a company during a recession might be a wise choice, but let me go over a few points briefly [also check out Paul Graham's "Why to Start a Startup in a Bad Economy" post and this article from the UK Times Business section by Rachel Bridge).

Five reasons to start a business in a poor economy:

1. You might lose your job; a side business provides a safety net.
2. You likely won't earn a big raise, so you'll lose less by quitting in a recession.
3. Prices and thus costs will drop during a recession.
4. If you can succeed in a recession, you'll thrive when we recover.
5. Value will be a priority for everyone, new companies can gain business by pricing low.

Successful Savings

At the time, I had no real plan about how I'd make money but honestly, it did not concern me. Nearly all my friends and family members were shocked by my resignation. After all, every economic indicator was pointing to a long term recession in the United States and global economies. A lot of people thought it was foolish to leave a well paying job to pursue my passions, especially when I did not know exactly what those passions were!

Readers of My Last Name Means Money know my opinion that storing as much money as you can in online savings accounts is vitally important to your success and tolerance for risk. It's an obvious tip, but one I implemented very well. Once my savings account reached a level where it could fund my lifestyle for at least six months, the risk became bearable.

Wise Investments

A big reason my savings account is still supporting me is that I aimed to withdraw money only when necessary. There were many times I failed and made foolish expenditures, but for the most part I stuck with the plan and still have enough cash to ride me through the next six months. Overestimating how much money was needed to survive for six months also gave me plenty of leeway to afford those not so wise spending decisions.

A big use of my savings account went towards investments that led to a simpler lifestyle that was easier to afford. My used bicycle easily paid for itself countless times now through improved health, lowered transportation costs and free entertainment. It also gave me plenty of time to think while pedaling about the city of Boston. Time to think is a very valuable asset.

Another investment was continuing to be a Boston Celtics season ticket holder. Though it was a huge use of my money, most of the tickets ended up getting sold to friends at face value. Sure, that cash didn't earn any interest but I was able to hook up my friends with Celtics tickets and hold a great contest at The 42nd Estate to win a pair of Celtics playoff tickets. It's a product that has maintained it's value and allowed me to get back money throughout the year that otherwise might have been spent on a trip or other use that I could not re-sell.

I also continued to pay down my student loans and am now less than $3,000 away from being completely debt-free! The wisest investment I made by far, however, is the one I did not make. When I resigned from State Street I also elected to not re-invest my 401k into an IRA. Instead, the money has sat in a Citibank account as liquid cash. I would take a hit on cashing out my retirement account early so for now it sits there earning a little interest, which is immensely better than losing half its value in the stock market. Sometimes doing nothing is the best action.

Dow Jones Index for the past year, down 5,000+ points, -41%

A few not so wise expenditures:

• Xbox 360 Console - great release for frustration but no time to play with it.
• Second bike and bike frame - planned to fix up the first one and build a bike from scratch but again, no time.
• Countless domain variations of the42ndesate.com - a few were OK but I went way overboard with this one.

Pinpointing my Passions

Along the way many, many mistakes were made, but these mistakes enabled me to learn about myself and my true passions. Sometime in November/December I realized my passion was right in front of my face the entire time. I love blogging and social media and spent a lot of time learning and growing my knowledge in those fields. It was then that we began an overhaul of The 42nd Estate. We recently pushed out a new design and began publicizing our service offerings:

• Freelance writing
• Blog & social media consulting
• Web hosting

Over the past few years, I picked up a lot of knowledge about blogging, writing and maintaining Wordpress installations. I also spent a lot of time researching how to tweak our servers and picking the brains of my buddies who are experts in the field, which has enabled us to begin offering hosting to clients who need it. I am by no means the world's most authoritative source in any of these fields, but I also realized I don't need to be. My goal was never to strike it rich, but merely to afford a simple lifestyle while using my knowledge to help other people and organizations become successful.

Over the past few months The 42nd Estate has begun acquiring more and more clients each month and genuinely helping people become successful. It's a great feeling to finally discover your passion and realize it can be your job too. And that, my friends, is why the word "nearly" is in the title, cash-flow free for nearly a year!

Photo of all that cash is by Tracy O. Thanks Tracy!

Ever since moving this blog over to dofollow, I've noticed an increase in questionable comments. What I mean by that is comments that seem relevant to the post content but are spammy because of jamming keywords into the username field or the actual site linked is spammy. It's these borderline comments that I'd like to discourage going forward so I've developed this short comment policy and installed Lucia's Linky Love to better distribute the dofollow attribute to comments that truly deserve it.

1. Everyone is free and welcome to comment on any posts on this blog.
2. Comments will become dofollow after a set number of days pass and after the commenter writes a set number of comments. These numbers will remain a secret, though if you comment here a few times it's very likely you'll receive a dofollow link.

The username field is for your name, internet persona, or website title (sometimes). If I feel you are abusing the username field for the purposes of keyword stuffing, your comment may be remain nofollow or might even be deleted.

3. Any comment that lacks substantial value and appears to be a generic comment will likely be moderated.
4. I reserve the right to keep your comment on the site but edit your name or url if I believe you are spamming.
5. In the end, comment moderation will remain completely up to me, though I will make every attempt to be fair to all parties.

If you have any questions concerning this comment policy or your comments, send me an e-mail and we can chat in more detail. This comment policy is being issued to ensure my Google Pagerank isn't harmed by giving out dofollow links to places Google might interpret as spam. My moderation of the comments is not personal and if you feel you were moderated incorrectly by all means, send me an e-mail and we'll review your comment.

I think this comment policy is fair to me, my readers and visitors. It's an effort to make sure that giving my commenters a dofollow link actually means and helps those commenters. What do you think of this policy? Is it a good move or am I being too strict?

So we discussed DoFollow earlier this week on The 42nd Estate's blog (you are subscribed, aren't you?) but just to spread the word a bit further, let's check out what we learned.

First up, DoFollow means links on a site get crawled by Google, thus giving the linkee a bit of a boost. Second, many bloggers are behind a DoFollow movement promoting Dofollow as a way to reward valid comments (Prose of a Pol is a DoFollow blog), third The 42nd Estate and My Last Name Means Money both feature commentluv and are DoFollow blogs, giving you a great place to get some backlinks from PR3 and PR2 blogs. Finally, don't forget to list your DoFollow blog (if you do Dofollow) at Justin Wright's DoFollow Blog Directory.

There you have it folks. Do you DoFollow? If you do, make sure to sign up on Justin's blog and also leave a comment here letting me know.

Check in tomorrow for a hilarious video from The Onion.

As I was browsing around a few custom theme blogs looking for a designer to revamp The 42nd Estate site (and a few others), I stumbled upon this mega contest featuring 10 premium wordpress themes. The contest started a couple weeks ago and runs until November 28. There will be ten winners, one for each theme.

The premium theme prizes:

• Arthemia Premium Theme from Colorlabsproject.com - $70
• Chimera Premium Theme from Themespinner.com - $59
• WPRemix 2 from Wpremix.com - $75
• Thesis Premium Theme from Diythemes.com - $87
• Revolution - Real Estate from Revolutiontheme.com - $59.95
• Fresh Folio from Woothemes.com - $70
• On Demand Premium Theme from Press75.com - $75
• Braincast Premium Theme from Storelicious.com - $79.90
• Jobpress Premium Theme from Dailywp.com - $59
• Fresh News Premium Theme from Woothemes.com - $70
• WpShowcase from Gabfire.com - $59

Adding up the regular price of each of these premium wordpress themes, the contest is worth over $700! Granted, each winner only receives one theme but that makes it even better deal as everyne has a great chance at winning.

Entering is easy and requires two steps.

1. Sign up for Blog Oh Blog's RSS feed.
2. Write about the contest (with a link to the contest, of course).

That's it! Pretty easy, eh?

So head over to Blog Oh Blog and join the contest (or don't the less competition the better).

Pax.

Quick post today to let everyone know about a great contest over at Bradblogging, featuring prizes worth $2,200! That's a whole lot of value right there!

Personally, I've donated 3 months of free 125 x 125 ads on this blog to the contest AND The 42nd Estate has donated $42 in cold, hard, cash (in U.S. dollars).

Here's the full list of sponsors and prizes:

Platinum Sponsor

• Jay Green & The Balesio Team (http://www.balesio.com) donating:

1. 1 Copy Of “ALLCapture Enterprise 3.0″ Screen Recording Suite - $344 USD Value
2. 2 Copies Of “ALLCapture” Screen Recorder - $466 USD (combined) Value
3. 8 Copies Of “PPTMinimizer” Powerpoint Compression (up to 98%) - $331 USD (Combined) Value

Gold Sponsors

• Fresh Never Frozen Web Design (http://freshneverfrozendesign.com) donating:

1. 2 Custom Blog Designs - $300 USD (combined) Value
2. 1 Hour Blog/Website Design Session Consultation - $49 USD Value

• Carlocab (http://carlocab.com) donating:

1. 5 Copies of Direct Response Templates for Minisite Design - $185 USD Value

• Logo Design Team (www.LogoDesignTeam.com) donating:

1. A Best Seller - Logo Design Package - $149 USD Value

• Scot (http://www.revvenue.com) donating:

1. 1 Hour “Adsense Tutoring” Session - $39 USD Value
2. $30 Gift Certificate to Starbucks - $30 USD Value

• Corey Freeman (http://www.deadlyclever.com) donating:

1. A Logo Design Package From Deadly Cleaver - $99 USD Value
2. Blogroll Link on Diligent Design - $5 USD Value

• Adam Pieniazek (http://adamp.com) donating:

1. 3 Months of 125×125 Advertising On His Sidebar - $20 USD Value
2. $42 Cash Prize from the42ndEstate.com

• David Leonhardt (http://SEO-writer.com) donating:

1. Copy Of “Don’t Get Banned By The Search Engines” Ebook - $40 USD Value
2. Top 52 S.E.O. Tips Sheet - $10 USD Value

• Peter Lee (http://www.peterleehc.com) donating:

1. Copy Of “Quit Being a Wage Slave in 10 Easy Steps” Ebook - $49 USD Value

• Blogupp Team (http://www.blogupp.com/) donating:

1. 50 000 BlogUpp Impressions - N/A Value

• Hugo Santos (http://bloggervenue.com) donating:

1. 3 125×125 ads on his sidebar (1 month) - $20 USD (combined) Value
2. 3 Text Link Ads - $19 USD (combined) Value

• Dan And Marsh (http://www.giveawaycity.blogspot.com) donating:

1. 2GB Kingston Data Traveler (USB Storage Drive) - $29 USD Value

• Pam Hawk (http://www.passitonplates.com) donating:

1. A “Pass It On Plate Lite” Edition (See This For More Details) - $29 USD Value

Silver Sponsors

• AnotherMMOBlog (http://www.anothermmoblog.com/) donating:

1. 2 x 1 Month Text Link Ad
2. 1 Month 125×125 Sidebar Ad

• Lhurey (http://www.phblogger.net) donating:

1. 2500 Entrecard Credits

• Tim Johnson (http://www.yimto.com) donating:

1. 2000 Entrecard Credits

• Yan (http://thoushallblog.com) donating:

1. 1000 Entrecard Credits from Wpbeginners.com
2. 1 Month Text Link Ad on his blog - Thoushallblog.com

• Hussein (http://www.niessuh.com) donating:

1. 125×125 Ad On His Sidebar For 2 Months

• Marvie Pons (http://underscore30.blogspot.com) donating:

1. 125×125 Ad On His Sidebar For A Month

• Indo Contest (http://www.indocontest.com/) donating:

1. 468×60 Ad On His Header For A Month

• Multiply Themes (http://marviepons.blogspot.com/) donating:

1. 1000 Entrecard Credits

• Charles (http://piggybankpie.com/) donating:

1. 1000 Entrecard Credits

• NHC (http://themelib.com) donating:

1. 1 Month Text Link Ad

• Rajaie AlKorani (http://RajaieTalks.com) donating:

1. 1 Month Text Link Ad

• Sharon Hart (http://sharonahart.blogspot.com) donating:

1. 1 Month Text Link Ad

Wow, that's a TON of prizes!

When this blog was first created I intended to use it for professional reasons, as a blog-resume-portfolio mashup. Thus, at the time I simply left the name of this blog as Adam Pieniazek. Well, I've finally gotten sick of the uber-lame title and today decided to change it to Prose of a Pol.

In case you don't know, I'm Polish and a blog is basically prose (wikipedia says prose is "writing that resembles everyday speech") so BAM, this site is now Prose of a Pol. Clever, eh? It's at least a massive improvement over just my name!

Yea or nay?

A Polish poster promoting Polish books and media. For some reason, Poland makes the coolest posters. Photo credit to Pink Ponk.

It's time once again for the latest edition in the greatest (and really only) series on this site, that's right it's Web Quotes and Counterpoints IX - The 42nd Estate Edition!

As you've surely surmised from the tantalizing title, this time around the web we'll focus on The 42nd Estate and its vast repertoire of web-sites. The last time we spoke about my company we announced a few sites that we're working on, one of which is a reviews magazine. Well, over on The 42nd Estate's blog we're taking a sneak preview look at OTIBR.com, Only the Internet's Best Reviews. If you're curious how the site will look make sure to check out the latest post there for two screen captures of OTIBR. We've also chosen a launch date, September 29th 2008, so keep your calendars free that day!

In other news around The 42nd Estate network, yesterday was wicked productive as we took a site from idea to purchase to setup to launch over the course of one day! The site is called We Demand Videos!

As you might've guessed, it revolves around videos of all kinds, from comedy to action to politics and beyond. We do not focus on any one niche of videos, but rather comb through youtube for videos we enjoy and nearly guarantee you will too. For anyone wondering what the deal is with the #42 and The 42nd Estate's obsession with it, check out this video clip from the Hitchhiker's Guide to the Galaxy movie, which should better explain it.

To anyone whose checked out my about page here and found it, ahem, lacking, well now is your chance to find out more about yours truly in a much more informative post where I introduced myself to The 42nd Estate's fans. Check out that super awesome t-shirt I'm sporting!

Oh, and speaking of those wonderful fans of The 42nd Estate, we've setup a facebook page so you can show your support, get updates and be our facebook fans. While you're there RSVP for the otibr.com launch too! Note the wall post announcing the DVD giveaway (more details to come).

Well, that's quite the whirlwind of activity for this edition. Let me wrap it up by letting everyone know that I'm truly excited for the OTIBR.com launch, the recent addition of We Demand Videos! to our network and the other exciting events on the horizon. Thanks to all the hard working members of The 42nd Estate and our great fans all across the world.

That does it for this edition of Web Quotes and Counterpoints.

We are you are us.

A few quick notes to let everyone know about some exciting times ahead for myself and this blog.

My company

My readers who've been here from the start, known that I started a company a while back with three of my friends. Well, that company never quite took off but in April of this year I started another company, The 42nd Estate, with three different friends and this time we're getting things done and building momentum towards the launch of our first few web-sites. Over the coming weeks I'll reveal more and more information about the company with all of you but for now let me tell you that I'm excited!

Bicycle Film Festival

As this company works towards launch more and more of my personal time will have to be devoted to making sure everything works. Now, I enjoy working and especially when I'm my own boss so it's not a source of frustration or disappointment. Having said that, there are some social experiences I'll miss out on over the next few weeks and months that I would normally love to go to. One such event was this past weekend's Bicycle Film Festival, which I was scheduled to volunteer valet at but could not make it out on Saturday. Luckily, the people at MassBike had plenty of volunteers on hand and I can always attend next year's festival.

My coach

A few weeks ago I announced a syndication deal with the Brazen Careerist site, where some posts from this blog will also be published on their site. Well, at the start of this month the Brazeen Careerist hooked me up with a few free hours with an entrepreneurship coach, Tom Volkar. Feeling that little bit of guidance was just what the doctor ordered I seized the opportunity. Over the past few weeks Tom and I have discussed a few of my goals and how to get past any obstacles preventing me from succeeding. It's been a great experience so far and look out for a more detailed post about Tom and his coaching in the next few days.

My blog

The final note for today is an analysis of this blog. Though I've tried to post every day here, I'm beginning to realize that such a schedule does not really make sense for this blog. Especially over the next few weeks and months as I focus more and more on The 42nd Estate, updates to this blog will not occur so frequently. Tom and I also discussed that it wouldn't be fair to my readers to simply post randomly though so I've decided to announce a minimum of two posts per week, though I've yet to decide if these posts will occur on the same day every week or simply two days out of the week. If you have any preferences let me know!

So to my long-time readers, if there's a certain post or story that you'd like to see here, let me know! If you subscribed here hoping you'd read a lot more posts about a certain subject, send me an e-mail or leave a comment stating so and I'll try to focus on such stories!

Otherwise, I'll see you all again soon!

Few quick notes and updates about this blog now!

1. This blog now has better up-time than Google!

Check it out, I signed up for a web-site monitoring service called mon.itor.us and received my first weekly report recently:



Yeah! This blog had better up-time than Google last week! My host for this blog is bluehost. So far I've had very few to no issues with them and they are always quick to respond to my e-mails. For the low, low price of $6.95 / month it's tough to beat bluehost. Note, those are affiliate links so if you do choose to purchase some hosting from bluehost it helps me out with paying for the hosting costs of this blog and you get great hosting for a low cost. A win-win situation!

2. This blog now features only one sidebar column.

I've increased the post text size and made the post width a little bit wider while combing the two sidebar columns into one. I'm going through a minimalist phase and will look to move or more of the sidebar deals into other places or simply remove them to give this blog a nice clean easy to read look. As always, let me know via a comment here or an e-mail how you feel about the new look.

3. This blog now lists less categories.

There are still way too many categories on this site and in the sidebar to the right but slowly I'm converting some categories to tags to decrease the huge list. Over time the categories list will be broken down to ten or less very high-level areas with the tags being used for specificity.

4. This blog now has a social network page.

Instead of listing the various social networks I'm a part of in my sidebar, I created a page solely to list any social networks I've joined so you can keep up with me in my dealings all over the intertubes.

5. This blog now used as a reference for college research papers!

I discovered a curious reference to this site today, the site, cheat house (which I will not link to due to Google Adsense policies), hosted a paper by a student and check out one of his/her references:



It appears this student used my paper comparing U.S. accounting standards to international accounting standards as a reference for his/her paper.

That's all for today. Hope everyone has a nice relaxing Sunday.

Great day today as some posts from this blog will now be syndicated via the Brazen Careerist web-site. Welcome to any new visitors to this blog from the Brazen Careerist, take a moment to subscribe to my RSS feed to automatically get all my posts.

Check out my author bio on the brazeen careerist. It's a better description of me than my own about page!

That's it for today, I'm off to see the new Batman movie, The Dark Knight, tonight. If you haven't heard it's apparently a wicked, wicked amazing flick. I'll let you all know tomorrow if it lives up to the immense hype.