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Monthly Archives: August 2018

Control Over Money

1. Use cash instead of bank cards. It is easier to stop spending when you can see that you are out of money.

2. Avoid shopping unless it is absolutely necessary. I never go for groceries until my fridge is totally empty. It is amazing how creative you can be and how much you can save when you follow this practice.

3. Shop with a list. Do not buy anything unless it is on the list.

4. Try scheduling appointments one week later than you normally would. You can save the price of at least two haircuts a year by booking every five weeks instead of every four weeks.

5. Plan your outings so that you save on gas. I often write the places that I need to go (using the shortest geographic route) on a sticky note which I place on the dash of my car.

6. Purchase a library card instead of buying books. You will be surprised at the good selection of novels, CDs, movies and newspapers that you can access for $5.00 a year with your card.

7. Go through your clothing and determine what new combinations or accessories you can add to be stylish without purchasing more items.

8. Instead of purchasing bottled water or buying specialty coffees from retail outlets, carry a thermal cup that holds a beverage you prepared at home.

9. Divide the monthly payments for your credit cards and mortgage by four and then pay this amount weekly. You will not only reduce the interest significantly, but also make four extra payments a year.

10. Write down every penny you spend for the next month and then analyze the list. This will help you to determine what you can reduce or eliminate in the future.

Quickly Earn Extra Money

One of the easiest ways for you to make money is to sell something that you no longer need. Most of us have items lying around the home, in our garage or perhaps in our closets that we are not using any longer. Yard sales can be utilized to sell those items in a weekend and you will typically find that you are making anywhere from several hundred to a couple thousand dollars.

Of course, it is going to take some time for you to put those items together and then you will use a weekend actually having the yard sale. It can be quite rewarding, however, if it is done properly.

If a yard sale is not something that you want but you still have items that you would like to sell, you can do so on the Internet. Websites such as eBay and Craigslist can help you to sell those items and to make a tidy profit. Depending upon what you are selling and how long you plan on running the ad, it may take you anywhere from a few days to a week or longer to get the money that you need. You are also going to need to take the time to put those items online and that also involves a certain degree of technical knowledge. If you take your time and look at some of the tutorials that are available, you would be surprised with how easy it is to sell your items on the Internet.

Do you have any jewelry around your home that you would like to sell? You can sell Tiffany jewelry, sell diamond ring parts or even sell broken gold chains. The jewelry market is rather big today and the price of gold just continues to go higher. If you sell these items, you can expect to put some cash in your pocket almost immediately. The amount of money that you can make will vary from one place to another so it is a good idea for you to shop around a bit before you actually sell those items.

People Reluctant to Spend Money

Whichever way you look at it, if the consumer feels prosperous, sooner or later it often leads to the dreaded inflation, the thing most governments want to avoid at almost any cost. So, it`s ironic that we are now in the situation in which the economy has ground to a halt, the banks have been forced to lower interests rates to virtually never-known-before lows, inflation in some places is turning to deflation, and many of us have more money in our pockets than before the credit crunch took hold. Paying much less for our mortgages, and with the lower rate of VAT now at the standard rate of 15%, down from 17.5%, has made many people better off. So, why aren’t we doing what the government wants us to do-spend?

First of all, why are we being encouraged to spend our money? Because recovery will be consumer-led. The consumer is the one who will kick start the economy once more. Car sales, house sales, clothing retail, holidays, they all depend on customers being prepared to walk through the door and purchase. Once house sales improve the numerous other items that go along with the buying of property such as home improvements, furnishings, extensions, patios, bathrooms and so on will also start moving properly. Once people start to buy, the government will of course reap the benefits of getting more tax in to the exchequer, mainly in the form of VAT.

The recent reduction of VAT is a two-edged sword. Most of us are acutely aware that as from next year the government will have to recoup what was lost in tax from this year. Whether they do that through direct or indirect taxes we don`t yet exactly know. But, claw the taxes back they will. Add all that to the fact that there`s so much uncertainty on the job front, many are hoarding their new found disposable income and putting their money into savings accounts.

About Handle Money

First things first. You just gotta KNOW. Financial freedom is a conscious state of living–no more mindless spending!

You must know three things:

  1. What you have
  2. Where you have it
  3. Where it goes

Sit down and figure out exactly what income and assets you have and where you have them. Then identify all of your liabilities and expenses. Where is the money going each month?

Until you know, you won’t be able to act in choice. This gets to the issue of “WHO you want to be around money”. Do you want to be someone in control? Or do you want to be someone who AVOIDS money issues?

Create a budget

Once you know what’s currently going on, you can then set up your plan for what will go on from this day forward. This will be your budget.

I challenge you to write your budget differently than most financial plans will. I want for you to have a VALUES CENTERED plan that allows you achieve what you want to accomplish, regardless of your income.

  1. First, list those things in life you MOST VALUE. (things that lead to fulfillment)
  2. Then list the things you NEED to be at your best (that bring satisfaction).
  3. Then list the things you WANT (that bring gratification).

Put a plan together that support you in directing your money where your VALUES are first. Then put money toward your needs and priorities. Finally, you can fund the “wants”. Many people do it backwards…wants first, then needs, then values –which usually leads to feeling dissatisfied and unfulfilled because there isn’t enough money left to put things away for what you most value. And that creates inner conflict–and drives up the spending on wants (which never solves the conflict).

For example, if you value creativity, your financial plan should put a percentage of your income into ways for you to express creativity. If it’s adventure, are you saving for special trips and adventures? If you value learning, are you budgeting for more opportunities to grow and learn or are you saving for your children’s learning? If you value security are you saving for your future retirement and emergencies? I’m not saying go wild here. But if you put just 5-10% of your income toward your top few values you will notice a much deeper level of fulfillment in your life.

If you find a shortfall between your income and your spending, what can you do?
Well, it’s a basic math issue–in order to achieve your financial goals you have to make more than you spend (or spend less than you make!). Your three options are:

  • Figure out ways you can spend less
  • Find ways to make more
  • Do both