|Wealth Building Information|
Wealth Building Tips: Manage Your Money
As someone who loves to shop, enjoys holidays and owns way too many pairs of shoes, managing my finances is definitely something that does not come naturally to me, I have had to learn. Managing your money is so important in becoming more organised, less stressed and more productive in your life - you'll be amazed at what you can achieve with your money when it starts working for you, rather than you always working for it!
Seek advice. It's funny how most of us will go to experts for help in so many different areas of our lives, but we seem to think that somehow managing our money is something we can tackle for ourselves - usually when all evidence is to the contrary! Look for a financial planner or accountant who can help you set a course for your financial future - you'll identify your future financial goals, get real about your budget, set up investment strategies that will help you to achieve your goals - and you'll wonder why you didn't do it sooner.
Budget is not a dirty word! I know for many people 'budget' and 'diet' are in the same category, but a realistic budget is a phenomenally powerful financial tool and is imperative if you want to take control of your money (budgets can, and should, leave room for money to have fun with and to reward yourself with for all of your savings efforts!). If you find establishing a budget difficult to do (or to get motivated to do) on your own, seek help from a financial professional or even a friend, colleague or family member who has it all together financially.
Keep track. Keep a written record of every cent you spend for 30 days to see where all your money is really going. This activity serves a number of purposes - firstly it probably shocks you into reality and secondly, it helps you to identify categories of spending which you'll need to include in your budget. Remember, keep track of every single cent?at the end of the month, if you're spending more than you're earning that'll be a good indication of where some of your financial stress may be coming from!
The big picture. As well as looking at your day-to-day spending, estimate your annual expenses by looking at all of your regular bills and financial commitments and totalling that amount for the whole year. Once you know what your total fixed liabilities are for the year, divide that amount by 12 for a monthly figure. This is the amount you should be putting away each month just to pay your bills.
Keep on top of it. Review your budget weekly - this is a great habit to get into and helps you to keep on top of where your money is going and to quickly identify areas where you are spending too much - it can be quite an eye-opener! You might create a spreadsheet to enter your income and expenses into and to keep as an ongoing record.
Credit or charge? Change your credit cards for charge cards that you pay off in full each month. Knowing that you'll have to pay it off at the end of the month is a great motivator to help you get past those impulse purchases. If you do want or need a credit card, keep your credit limit low to help stop you from spending too much.
Go online. Bank fees and charges are one of those small expenses that don't seem like much each time, but they can add up. You can easily avoid them by changing your banking habits. Online banking is ideal; it's cheap, convenient, reliable, saves you time and helps you to understand your financial position 24-hours-a-day.
Keep your receipts. How many times have you wished you kept the receipt - whether it's so you can return or exchange an item or claim it on your tax? Set up a simple receipt filing system - it doesn't have to be complicated, perhaps just an alphabetical file - and you'll be able to find anything you need without the stress.
Tax time. Keep a separate file for your tax receipts and other documents relating to your annual tax return. This will save you from the frustrations at the end of the financial year and help you (or your accountant) to make sure you maximise your chances of receiving a tax return.
Neen is a Global Productivity Expert: by looking at how they spend their time and energy - and where they focus their attention - Neen helps people to rocket-charge their productivity and performance. A dynamic speaker, author and corporate trainer, Neen demonstrates how boosting your productivity can help you achieve amazing things. With her unique voice, sense of fun and uncommon common-sense, Neen delivers a powerful lesson in productivity. Find out more at http://neenjames.com/
This RSS feed URL is deprecated, please update. New URLs can be found in the footers at https://news.google.com/news
BlackFem – Teaching Wealth Building Skills For Women Of Color - Millennial Politics (press release) (blog)
Brittany Bush, Adrienne Cole Johnson, Rebecca Keel, and Jackie Washington: Community justice requires career ... - Richmond.com
Still Using Federal Reserve Notes?(How to Beat Inflation)
"My people are destroyed for lack of knowledge." Hosea 4:6 This short article will address the topic of inflation, its causes, the effects thereof, and how to safeguard against it.
The Philosophers Stone
"If you know how to spend less than you get, you have the philosopher's stone" - Benjamin FranklinOk, so how do you do it? It seems like any time I try to spend less, a new expense comes charging (so to speak) through the door. Here are a few suggestions I've gathered:1.
Retirement - Can You Afford It?
Every day you work is one day closer to your retirement. But can you afford to stop work? If you were unable to go to work for 6 months due to illness or injury, would you still have enough income to support yourself and your family? Even if you kept working, would you have enough money put aside to comfortably retire after a hard lifetime of work? If you kept working or doing as you're doing today, for the next 10 years, would you be in a better position to retire? Have you ever calculated whether your superannuation or the pension is going to be enough for you to retire on?For most people these questions either remain unanswered or have negative responses.
How to Save Money for Retirement
Saving money for retirement can be easy or difficult depending on your current salary. If you are like 75 percent of the American population, earning just enough money in your current job to meet your monthly bills, then it's time to do some serious thinking on how you are going to live when you retire.
Financial Freedom for Every Employee
You may think you have to be an entrepreneur to achieve your goal of financial freedom, but that is not necessarily true. While it is true that owning your own business is an excellent way to generate passive income, financial freedom is not entirely dependent on business ownership.
You Can`t Cheat An Honest Man
Author: James Walsh ISBN: 1563431696: Publisher: Silver Lake PublishingIn 1903 Charles Ponzi arrived in the USA with the aim of becoming as wealthy as Rockefeller. His modus operandi was based on the principle of robbing Peter to Pay Paul.
From Debt to Financial Freedom
The vast majority of working people are in debt. The vast majority of people who are now in debt are always struggling to find better jobs with higher pay checks.
The 11 Best Money Saving Ideas of All Time - Part 3
At any time in history, no matter what the current state of the economy, no matter what the current trends, no matter what the unemployment rate is or where interest rates lurk, some money-saving ideas stay true.Some of you may have heard of these ideas before, others may be entirely new to you.
Warren Buffet: Wisdom from the Worlds Richest Investor
In light of the dominant mindset overshadowing the market these days, a breath of fresh air might be welcome. This month, we're devoting this space to wisdom from Warren Buffett, the world's richest investor.
Money can be your servant or it can be your master. The choice is yours to make.
Lesson 1 - Why Arent You Wealthy?
We will start the Financial Fitness System with the assumption that you are out of shape financially or you would not have decided to subscribe to the course. So, again, why aren't you wealthy? There are some exceptions, but for the majority of the world it's the same reason.
How To Get Paid Instantly Via Stormpay? Try Online Rewards Programs
E-currency is very popular on the Internet today. People use different electronic funding companies, such as Stormpay, E-gold, Paypal, Moneybookers and the list goes on.
What Do You Mean By Diversity?
The word 'diversity' is a unique one. It can represent many things, depending upon its context.
Does the Moon Have Covers?
Recently, one late winter night, my four-year old son and I counted stars with one another. After a few minutes, he pointed to the bright moon and asked, "Why doesn't the moon have covers?""Covers? What do you mean?" I inquired.
Tax Help - Girls (and Guys) Just Want to Have Fun by Using Tax Saving Tips
In his best selling book, "Rich Dad, Poor Dad, Robert Kiyosaki warns people against the dangers of buying what he calls "doodads" - you know, junk, spur of the moment items.Tax Secrets of the Rich Found HereThose things that you didn't know we existed until you read about them in an in-flight shopping catalogue and know that you know about them, you just can't live with out one.
Its High Time for Lifetime Savings Accounts
I'm constantly reading articles on the internet and in financial magazines in which so-called financial planning experts express perplexity as to why about 30% of employees do not participate in their employers' 401(k) plans. These writers don't seem to have clue.
Re-discovering the Fundamentals of Financial Planning
To lose weight in the 80's, we went on low-calorie diets. In the 90's, we switched to low-fat diets, and now, in the 21st Century, we are completely convinced that it's all about the low-carb diet.
The Wealth Connection - 2 Steps to Brighten Your Golden Years
Estimated Reading Time: 4 minutes -- Envision your life 10 or even 20 years from now. Where do you plan to be? What are you doing and with whom?Most of us between the age of 35 and 50 years hope to be retired to some degree in 15 to 20 years or less.
Wealth Building Strategy
There are many of us who are working on our wealth creation strategy. Wether it be working another job, starting a small home based business or seriously building knowledge on the share and property markets, those that are serious are looking.
What it Means to be Rich
Many people have a false understanding of what it actually means to be rich. If you were to ask a stranger what makes a person rich, he or she would say "A person is rich if they have a lot of money and can buy whatever they want!".
|home | site map|