Hungry? In a rush? Skip the line!

Still waiting in line to order your meal? Some restaurants actually encourage you to skip the line...

Lines at fast food or fast casual restaurants can get long, especially during the lunch or dinner rush. If you're in a hurry, or you simply don't like waiting in line, there's a way to get exactly what you want and skip the line. In fact, some restaurants actually encourage it.

Order ahead with your smartphone

Numerous restaurant chains are rolling out order-ahead apps for smartphones. Chipotle sets the bar in terms of quality and experience. It's possible to order and pay from your mobile device, then cut the line at the restaurant, pick up your order, and enjoy your meal.

Link to Chipotle's app in Apple's iTunes app store: here

Who's there

Chipotle is at the vanguard, but numerous restaurants are in the process of piloting mobile-based, order-ahead apps, including: Jamba Juice, Wendy's, Panera Bread, and Dunkin' Donuts.

My recent experience

I'm a big fan of Chipotle, and apparently, half my neighborhood agrees with me. During lunch and dinner hours, the line can snake out of the entrance and onto the sidewalk. I have limited time for lunch and would prefer to get my food as quickly as possible so that I can enjoy my time away from the office. Even though I'm somewhat specific, some may call it picky, about my burrito bowl, the app is able to handle all of my custom requests.

In a recent example, I was able to order two very specific burrito bowls and pay before I left the office. By the time I showed up to the restaurant, the wait for those who did not order ahead was well over 20 minutes. I, on the other hand, was able to waltz up to the counter, mention my name, and take my order. The staff was efficient and pulled my order from a heated oven, which kept my food hot and fresh.

Step 1 - start of order

Step 2 - verify order

Step 3 - pay with credit or debit card

Step 4 - confirm order

Step 5 - done!

Conclusion

Using order-ahead apps from your smartphone can help you save time. If you're susceptible to up-sell, ordering ahead can also help you save money as well. Please comment below if you know of other restaurants rolling out order-ahead applications for smartphones.

photo credit: artfulblogger via photopin cc

Buy what you want, be a better person, achieve your goals

While the title reads like spam email or a late night informercial for a self-help system, this is neither of the above. Instead, this post is a continuation of the core theme: using mobile technology, free tools, and a minimalistic approach to improve our personal finances. Admittedly, this post isn't for everyone, but if you have the ingredients below, read on!

• Something, anything, you want to buy, but have been putting off for the sake of financial discipline. This can range from a new pair of shoes to a new car. Imagination is the limit here, vacations, electronic equipment, fashion, meals at restaurants, etc. are all fair game. The kicker is that funds need to be available, just unused for the sake of financial discipline.
• An activity you would like to be more disciplined about: eating healthier, working out, reading books, sleeping early, limiting TV time, etc. all qualify. In general, anything you would like to develop into a daily habit, but haven't been able to achieve the desired level of discipline, qualifies.
• A smartphone and a Google Drive account (free at drive.google.com)

Better habits and financial discipline by leveraging our material desires

The core concept is leveraging our wants as a carrot to improve our habits, all while reducing impulse purchases. In essence, every time we complete the desired activity, we reward ourselves with monetary progress towards the goal. I call this an Acquisition Fund.

A personal example

I would like an Apple iPad as a replacement for my aging desktop computer. While I have the funds to complete the purchase, I'm holding off. I also have an activity I would like to be more disciplined about: working out. In the past, like most people, my discipline would wane and I would revert to old habits: either skipping workouts or lowering intensity. Now, with my personal Acquisition Fund, I reward myself with a $10 towards my Apple iPad every time I workout with the right level of intensity. For a $500 iPad, I'll have to workout just over 50 times (to compensate for tax) to achieve my goal. And I track my progress using, free, simple, and easy-to-setup mobile tools. The incremental, but relentless progress keeps me motivated and I feel like I'm in control. Furthermore, the forced delay in actually buying the item allows for a review of how important the expenditure to my life.

Interested in trying? It's easy to get started

1. Define the goal. In my example, it's an Apple iPad. However, the goal can be any material want, as long as there is a firm monetary value that you can already afford. Examples include $100 meal at a nice restaurant, $200 designer shoes, $500 TV, $1,000 vacation, etc. It should also be an item you're passionate about.
2. Define the activity and the reward. In my example, I rewarded myself $10 for every workout. However, other examples include: $5 for every chapter of a book, $10 for every health meal, $20 for everyday without smoking. In general, I recommend an amount that will take about 13 weeks to achieve the goal, assuming you stay on track.
3. Setup mobile tracking. There are lots of options to track using a mobile device, of which I will explore in future posts. Initial options include tools like Evernote and self-addressed emails.

photo credit: <a href="http://www.flickr.com/photos/corscri/1320198723/">Corscri Daje Tutti! [Cristiano Corsini]</a> via <a href="http://photopin.com">photopin</a> <a href="http://creativecommons.org/licenses/by-nc-sa/2.0/">cc</a>

Replace Plastic Gift Cards with Gyft

Gift cards are a boon for the giver, but a pain for the receiver
If you're like most people, you have a stack of unused gift cards lying around the house. While there are a number of ways to increase the speed and likelihood of redemption, each option has significant drawbacks. One method is to store all gift cards in a separate wallet that is left in the car. Another method is to leave the card at home until a visit to the relevant retailer is planned. Yet another method is to carry all gift cards in the wallet. All three options have significant drawbacks, from the pain of carrying a large wallet to the risk of not having access to a gift card at the moment it is needed.

Fortunately, there's a fourth, and vastly superior, option.

Gyft mobile application
Gyft is a relative newcomer to the scene. However, it revolutionizes the traditional plastic gift card. One of the core functions of Gyft enables users to simplify the storage and redemption of traditional plastic gift cards. Let's take a look.

Gyft walkthrough with gift card for BJ's Restaurants
Step 1 - Select the "Add Gift Card" option

Step 2 - Search for the retailer/restaurant/provider

Step 3 - Enter gift card information & add to wallet

Step 4 - Done! The gift card is now in your wallet. You can leave the gift card in a safe location at home.

Redeeming a gift card through the Gyft mobile application
Step 1 - Select the relevant gift card and click on "Redeem"

Step 2 - Present the barcode to the cashier/server/clerk for scanning or keying in

Conclusion

That's it! Another way to carry less in your wallet and increase the velocity of gift card usage. Also, there's a lower risk of losing your gift cards. If your phone is stolen, the lock that you enabled will prevent thieves from using your gift cards. Carry less, eliminate unused gift cards, and reduce the risk of theft-- three great reasons to use Gyft or a similar app on your smartphone.

Lock your smartphone

Quick tip: lock your smartphone
I was a bit surprised by a couple of stats I recently stumbled upon. A blog post from iovation and another blog post from ZDNet reported that most smartphone users forgo the locking functionality. While entering a PIN to use your phone may seem unwieldy, the time, effort, and money required to recover from identity theft can far surpass the time required to enter a four digit PIN with each use.

Information on your phone
Our smartphones not only store an incredible amount of information, but they are also a gateway to many of our online accounts. Information commonly found on smartphones include:

• The majority of personal information a fraudster needs to perpetrate identify theft, for example: full name, address, DOB, phone number, etc.
• Personal information about those we care about, including: names, phone numbers, addresses, email addresses, and social media profiles
• Personal photos and videos
• Financial information, such as bank accounts, transaction history, and financial instruments
• Physical location history via check-in, mapping, and review (e.g. Yelp!) applications

A more secure option
The first line of defense is basic common sense and situational awareness: be mindful of where you use and store your phone. The second line of defense, a simple PIN, takes less than four seconds to unlock, but can stop basic hacking attempts. Be sure to choose a strong PIN. The third line of defense is remote wipe. With a small amount of effort, the smartphone can be a secure alternative for your wallet.

Bonus function
A locked smartphone will also reduce the risk of untimely pocket dials.


iOS (iPhone) Instructions
Step 1 - Choose the "Setting" icon from the home screen
Step 2 - Navigate to the "General" option

Step 3 - Scroll down to the "Passcode Lock" option

Step 4 - Select "Require Passcode." In this case, "After 1 min." is selected. For increased security, select "Immediately". For stronger security, turn off "Simple Passcode" and select a strong password instead.

Additional resources

• http://www.fcc.gov/smartphone-security

Spartan Challenge One: Go Paperless & Card-Reduced

The first Spartan Challenge
Go paperless. Well, go paperless and card-reduced to be more specific. In our quest for maximizing personal finances using mobile and a minimalistic approach, moving towards a paperless and card-reduced system is the first step. Not sure about the reasons to start the journey? Read on.

The cost of paper and cards is surprisingly high
Money - research demonstrates significant costs associated with paper. Not only are there filing and storage costs, there's also the cost of eating a return when a critical receipt goes missing. Furthermore, unused gift cards that sit around the house represent opportunity cost.

Time - searching for a lost receipt or a specific business card is a waste of time. To say nothing of trying to whip out a store loyalty card while at the checkout stand with six impatient patrons glaring at you.

Health - chemicals found on receipts and other paper can be harmful to your health. In some cases, wallets have been associated with back pain.

Environment - plastic cards and paper consume resources and in the case of plastic, far outlasts its useful life.

Risk - cards and paper are less secure than digital options. Smartphones can be locked, encrypted, or even wiped. A stolen plastic gift card is as good as cash and savvy thieves can use your spare check to clean out your bank account.

To borrow a quote from Capital One, "What's in your wallet?"
A quick look at all the items that can clutter our wallets:

• ID/driver's license
• Insurance (medical/dental/vision) cards
• Proof of auto insurance
• Credit card(s)
• Debit card(s)
• Cash
• Coupons
• Loyalty cards
• Punch cards
• Store cards
• Photos
• Gym card
• Library card
• Receipts
• Gift cards
• Public transportation card
• Business cards
• Tickets (show, movies, theater, etc.)
• Spare checks
• Others?

Smartphones pave a path to a paperless and card-reduced existence
Some cards, such as government-issued ID cards, will be with us for the foreseeable future. However, we now have the option to digitize a number of the items above, reducing cost, frustration, and risk.

Gift cards -> Gyft
My 15 year old cousin, who receives a large number of gift cards, was able to find, install, and utilize Gyft. He is now able to use his gift cards from his Apple iPhone 5. Not only does he reduce the risk of underutilized gift cards, he is also able to carry less cash.

Gym/library/receipts/loyalty cards -> Lemon Wallet
Lemon Wallet enables you to digitize your wallet by taking photos of your card and then entering basic information about it. Lemon Wallet will then create a digital version of each barcode for scanning. Be sure to carry the original card until you've verified the functionality of the digital version.

Receipts/business cards -> Evernote
Evernote is an incredibly versatile application. Simply snapping photos of receipts and business cards will enable you to search for all of the text in each document. What's easier, rifling through a stack of business cards or searching for a name? For more information, see an earlier post.

Proof of automobile insurance -> Depends on state of residence
A number of states are starting to enact legislation that allows digital versions of proof of insurance. If your state allows digital proof of insurance, try using your provider's mobile app or snap a photo of your auto insurance card.

Insurance card(s) -> TBD
You'll have to make your own call about insurance cards. Each medical/dental/vision provider has different rules-- it's best to find out the official policy.

Conclusion
The current toolset leaves a lot to be desired, but the pace of innovation and improvement is both rapid and inspiring. Starting early will put you on an accelerated path to saving time and money, while reducing risk and simplifying your personal finances.

Future posts will include tips and techniques to conquer the first Spartan Challenge: going paperless.

Other resources

• http://www.paperless2013.org/
• http://evernote.com/community/paperless_challenge.pdf
• http://lifehacker.com/5973033/how-i-turned-three-years-of-paper-into-a-highly-organized-searchable-document-database-in-two-days
• http://www.ntis.gov/services/jv_costofpaper.aspx

photo credit: SlipStreamJC via photopin cc

Mobile Check Deposit

As you may have noticed, check volume is in rapid decline. However, checks are still a valid and periodically convenient form of payment. If you receive the occasional check and are not able to deposit the check to an ATM or bank branch on a same-day basis, consider mobile check deposit.

Advantage #1 - Reduce Risk
There are many risks with checks-- payer's balance falls below check amount, lost or stolen check, and damage to check. With mobile check deposit, it's easy to deposit the check on the same day, reducing your exposure to these risks.

Advantage #2 - Collect Interest
If you have an interest-bearing bank account, it is in your advantage to deposit the funds as quickly as possible.

Advantage #3 - Save on Transportation Costs
Instead of spending the time and energy traveling to an ATM or bank branch, deposit the check from the comfort of your home or business.

Advantage #4 - Flexibility
Deposit a check at any time of the day or night. Furthermore, initiate a check deposit on weekends or holidays.

Advantage #5 - Security
Avoid becoming a target of thieves who assume individuals transacting at an ATM will have cash. Also, eliminate the risk of card skimming at an ATM.

Getting Started

Most bank applications that offer mobile check deposit make it very easy. A sample with Bank of America below.

Step 1 - Verify that your bank offers a mobile application for your phone and mobile check deposit. In some cases, the option is also known as remote deposit capture.

Step 2 - Download the mobile application from your bank.

Step 3 - Select the "Deposits" option from the main screen (below)

Step 4 - Take a photo of the front and back of your check

Step 4A - Photo of front of check

Step 5 - Enter Amount & Confirm

Step 6 - That's it!

It may take a day or two for the check to clear. Monitor your transaction details through your online or mobile account.

Next Level

Many common interactions with your bank can now occur without a bank branch or ATM. Paycheck deposits can be handled through direct deposit, cash can be obtained at grocery stores, transaction history can be viewed online or in mobile applications, and checks can be deposited using mobile check deposit. If you find yourself in a situation where bank branches and ATMs become obsolete for you, consider switching to an online bank. Great write-ups here and here.

photo credit: SimpleIllustrations via photopin cc

Product Review: Speck SmartFlex Wallet Case for iPhone 5

The Stuff In Our Lives

Increasing wealth through simplification and better utilization of existing tools is one of the main themes of this blog. It is well documented that the stuff cluttering our lives wastes both time and money. Also, here.

The Wallet

Let's start by putting our money where our mouths are. First question: do you really need that giant wallet you're carrying around? Take a hard look at the items you're using on a regular basis. How often do you use the things in your wallet? Can anything be digitized? For example, a recently-passed California law allows drives to carry proof of insurance on a smartphone.

Simplify & Reduce

If you can reduce your wallet down to three cards and one folded bill, consider replacing your wallet with the Speck SmartFlex Case or a similar product. It'll reduce the number of items you need to grab before leaving the house. It's also an exercise in simplicity. I recommend carrying the following cards: ID/drivers license, debit card, and credit card. Then digital wallets such as Lemon Wallet can be used for auto insurance, health insurance, loyalty cards, gym membership cards, and other credit cards. For receipts, see my previous posts here and here.

Safety & Security

In addition to simplifying the wallet and reducing the items required for daily carry, many smartphones offer functionality to track lost or stolen devices. If you simply misplace your smartphone/wallet case, there are many tools such as Apple's Find My iPhone app that allow you to track and find your smartphone and wallet items.

Photo credit: Speck Products