Lately, I have been thinking about mine and my family’s eating habits. I have come to realise that our lifestyle is making us unhealthy and costing us a lot of money.
I should have realised this sooner but better late than never.
For the past 2 years I have put on a bit of weight and so did other members of my family. If I look at our lifestyle critically, it is very clear that we are sedentary people who like to stay indoors. The kids are a little different, they have lots of energy and are always running around.Whilst they eat a lot, and boy they don’t stop eating, because they are always active doing something they don’t put on a lot of weight. Having said that, if they continue with the habit of eating a lot and they change their lifestyle as they get older, they will certainly put on a lot of weight very quickly.
So I researched the web and came up with 5 tips for a healthier lifestyle and, at the same time, to save your money as you go.
1 – Eat at home
This one is a bit obvious, as life is very busy and we have less and less time to cook at home we have a tendency to stop by the fast food shop and get a quick bite. As a matter of fact, for the past two years, we have eaten out almost every Sunday. If the average cost of the Sunday take out is $20 and we ate out, say 40 out of 52 weeks of the year, in 2 years we have spent $1600 (that’s 80 times $20).
Wow that hurts even to write it down.
If we stop, or at least reduce the amount of Sunday’s take out, we can not only save money but also get healthier. This is because the take outs are full of fat. All of the fat is transformed into energy which is never burnt, because of the sedentary lifestyle, and tuned into fat. That simple!
2 – Change your shopping list
Children are amazing, we love them to bits and always want to do something nice for them. That includes buying things in the supermarket that they like. Ice creams, chocolates and many other things.
You know, the funny thing is that we are eating those things with the children. We often catch ourselves eating the children’s ice cream once they have gone to bed.
That is really bad. The answer is obviously, stop eating that stuff and buy only the amount that kids will eat in one go. Perhaps give them to the kids as a treat only on the groceries day. This should help us to stop eating them and to reduce the amount of unhealthy things the kids eat.
On the other hand, if we reduce the amount of packaged food that we buy we can also save lots of money on the way. It is important to note that these packaged sweet things we buy for the kids are not only unhealthy but also very expensive. So there is an opportunity to save money by buying different treats that are healthier and cheaper.
3 – Stop dieting
Are you spending your money on expensive shakes or dieting programs? If you are then I encourage you to take a look at their effectiveness. Are they really working?
These diet programs often encourage you to eat healthier in order to help the effectiveness of the program. If you put in practice the first two tips it is likely that you can ditch the diet, save your money and continue to loose weight.
4 – Stop going to the gym.
Gym is very, very expensive. Not to mention that many people have gym membership but don’t go to the gym as often as they should.
For about two years my wife and I had a gym membership that was only used about once or twice a month. As we got towards the end of the second year of our membership we decided to stop and replace it we walking three times a week (that was before we had kids).
We saved a lot of money and lost more weight because we were walking more often than before.
The gym was a waste of money and was not delivering the expected results. Having said that, if you use your gym as often as you should, it can be a great tools to help you to get fit, loose weight and live a healthier life style. The trick is in taking a critical look at how often you use your gym and evaluate that against the membership cost and the results you are getting.
5 – Quit bad habits
We are living today in a very stressful world. Credit cad debts, the threat of unemployment, financial crises, unemployment for some of us and, if you are in Australia, the increase in interest rates and the cost of living.
As a result of all of those stresses, we may have some habits to help us to relax. they may be smoking, drinking or any other form of activity to take our minds out of those things that stress or upset us.
Trying to deal with some situations once and for all will not only help us so solve our problems but will also save us lots of money. Cigarettes and alcoholic beverages are very expensive and could be costing you thousands of dollars every year. not to mention that they don’t actually help you to solve the problems you are trying to solve.
In conclusion
Taking a critical look at your financial situation and habits is the first step for a a better life style and some extra money in the bank. It doesn’t take long for you to review your shopping list, or to calculate how often you spend on take outs.
Give it a go, you may get a pleasant surprise.
Tuesday, December 7, 2010
Monday, December 6, 2010
Financial Independence Compilation, make money blogging and passive income opportunities
Welcome to the December 6, 2010 edition of financial independence.
Your Financial Independence Articles
Making money blogging: diaries of a beginner blogger entry 2–should I give up? - Back in September 10 I posted an entry entitled Diaries from a beginner blogger entry 1. In that post I explained why I started this blog and, in summary, what I wanted to achieve.
Just to recap, I made the following points…
Passive income opportunities - This post is a bit of dummy spit from me. Not a nice start, I apologise for that. I get very annoyed by the main stream financial advice available in personal finances magazine or even on TV. The main advice you get from the experts is to cur your expenses,save your money, put it into your superannuation, or 401K if you are in the USA and have an emergency fund.Whilst they are not wrong I believe they are missing the point. Think about the following scenario…
Top ten saving tips - Want to save your money but don’t know where to start? Or perhaps you are have already gone through the process of cutting your expenses but it has not been enough?
Whatever your circumstances, I have compiled ten easy ways save on your daily expenses.
Reader’s Articles
Rich D presents Where to Buy Penny Stocks posted at Stock Tips, saying, "Buying penny stocks can be confusing for many investors. Learn how and where to buy penny stocks and what to look for when choosing which penny stocks to buy."
Pinyo presents How to Protect Yourself from Debit Card Overdrafts posted at Moolanomy.
Colin Robertson presents What Credit Score Do You Start With? posted at The Truth About Credit Cards.com, saying, "If your one account is in good standing, meaning you’ve made payments regularly and kept the balance low (credit utilization), you should have a good credit score."
BC Russell presents Free MLM Leads posted at Internet Marketing... while being careful with your cash., saying, "That can’t be a real offer, can it? Well sort of. Here are 3 ways you can generate MLM leads free, if you understand the downsides."
Everything Finance presents How to Manage Customer Reviews Online posted at Small Business Resource, saying, "For small business owners, word of mouth advertising is one of the most effective ways to draw new customers."
Tim Chen presents Rewards Showdown - Chase Sapphire vs Capital One Venture posted at NerdWallet Blog - Credit Card Watch, saying, "The Chase Sapphire and the Capital One Venture Rewards cards seem pretty similar, and even their signup bonuses and rewards programs overlap. But when you really look at the numbers, some glaring differences appear."
Madeleine Begun Kane presents Trippy Limerick posted at Mad Kane's Humor Blog.
Thursday Bram presents Doing What You Love, and Deciding Never to Retire posted at Currency.
Thursday Bram presents How Much Should You Spend On Having Fun? posted at Currency.
Jeff Weber presents Discover More Card Review Who Benefits with this Credit Card posted at Smart Balance Transfers, saying, "The Discover More card is a good credit card for people who want good customer service and fair treatment."
Chizoba Morah presents Your Personal Finance Journey | Information Gallery posted at Information Gallery.
Chizoba Morah presents Tips for Taxpayers Who Owe Money to the IRS | Bookkeeping Tips posted at Bookkeeping Tips.
Barb Friedberg presents How to Prepare for the Coming Inflation posted at Barbara Friedberg Personal Finance, saying, "Get ready to fight inflation with these tips. Your shopping trips are going to cost more soon!"
Steve Faber presents How to Use the Law of Attraction to Win the Lottery | lucky-lotto-numbers.com posted at Lucky Lotto Numbers, saying, "Thousands of people ask this question every day. Have any of them really thought about how this could happen? Apparently not! Here is what they're missing, and it's as plain as the nose on Cyrano's face."
BWL presents 8 Ways To Save Money On Your Christmas Shopping posted at Christian Personal Finance, saying, "This article looks at 8 simple ways you can save money on your christmas shopping this year..."
Michael Pruser presents Understanding the Value of a Good P/E Ratio posted at The Dough Roller, saying, "Knowing the value of a good P/E ratio could be the edge you need in the stock market."
Michael presents Sony Card From Capital One $50 Gift Card posted at Consumerism Commentary, saying, "A credit card for anyone loyal to the Sony brand, or who has a big electronics purchase looming."
Praveen presents Two Stock Ideas: NETC and RPM posted at My Simple Trading System.
Odysseas presents Five Ways You Can Turn Your Debt-inspired Frown Upside Down posted at Wallet Blog, saying, "I think your readers will enjoy my submission this week because it shows them that debt does not have to be such a heavy burden. Anyone can take control of their financial future by making a few lifestyle changes."
MoneyThinking presents Holiday Hosting on a Budget posted at Money Thinking, saying, "I realized the other day that I’m going to have three or four get-togethers at my house in the next month. First off, I wondered what I was thinking. Secondly, I realized that this could get really expensive! Luckily, I have experience with keeping things cheap but fun… and as always, I’m going to help you, the readers, do the same! Hosting a holiday party this year? Then check out these quick tips!"
freefrombroke presents LIFE Has A Way Of Screwing Up Budgets posted at Free From Broke, saying, "You try to do the right thing and make a budget. But you find that your cash flow still doesn't work out. What's happening? LIFE!"
Ken presents How a Home-based Business Helps You Reduce Taxes Even More – Part 2: Business Losses posted at Spruce Up Your Finances.
PT presents Do You Need Home Office Insurance? posted at Prime Time Money, saying, "Does your small home business need insurance?"
DoubleMyNet presents Buy My Truck For $900 Per Month posted at Double My Net Worth, saying, "How would you like to buy a USED truck for 900 U.S. dollars a month? That's a terrific steal. Better than 1500 a month, don't you think?"
Silicon Valley Blogger presents Transferring Your Brokerage Account? Switch Brokers With Ease posted at The Digerati Life, saying, "Thank you!"
Darren presents Social Security Benefits for your Spouse posted at MORE than Finances, saying, "You may know about receiving social security benefits for yourself when you retire. But did you know that when you retire, your spouse also receives benefits?"
Erin Pavlina presents How I Got Every Job I Ever Wanted posted at Erin Pavlina - Spiritual Wisdom for Conscious People, saying, "When I was 17 my father told me I could work for him during the summer for $3.00/hour or I could go out into the “real world” and get a job that earned minimum wage, which at the time was $5/hour. I thought this was a very clever deal since he was offering me the..."
That concludes this edition. Submit your blog article to the next edition of financial independence using our carnival submission form. Past posts and future hosts can be found on our blog carnival index page.
Friday, December 3, 2010
Making money blogging: diaries of a beginner blogger entry 2–should I give up?
Back in September 10 I posted an entry entitled Diaries from a beginner blogger entry 1. In that post I explained why I started this blog and, in summary, what I wanted to achieve.
Just to recap, I made the following points:
Let’s review each point I made in the first diary entry against how I am going:
I have been thinking that I can continue to research and learn about personal finances without spending the time to publish posts on this blog and to continually think of ways to improve its layout and how the information is published.
With regards to making money, I can certainly find a second job to boost my income in a more effective and efficient way.
Considering that I have made about $36 in 5 months, If I spent about 2 hours a day, 5 days a week, then I have made about $0.03 per hour worked. That is embarrassing.
Having said that I still think that if I push on with this, the potential of generating long term income is far greater than what I can get by finding a temporary second job to boost my income.
In conclusion, I have learned a lot about personal finances and starting micro online business. The traffic and income produced by this blog have been depressing and as a consequence I am thinking of dedicating my time to producing income from more effective and efficient ways (I can certainly make more than 3 cents per hour if I have another job or search for other income generating sources). Nevertheless I am pretty determined to continue with this blog for a few months to see where I get to.
Regardless of all of the above, I can’t help thinking that this is a colossal waste of my time and effort.
Would love to know your thoughts about it!
Just to recap, I made the following points:
- I started this blog to learn about personal finances management.
- Another reason that motivated me to start this blog was to learn about starting a micro online business.
- To make some money on the side.
Let’s review each point I made in the first diary entry against how I am going:
- Learning about personal finances management – I must say that each day when I post a new entry and each week when I post the personal finances compilations I learn a lot about personal finances. From this perspective researching and posting has helped me to learn and to take control of my finances.
- To learn about starting a micro online business - This has also been very interesting. I must say that I have read a lot about online businesses, traffic generation, SEO optimisation and all the rest.
With regards to optimising the business, I am still using blogger to host the site which means no expenses at all. Nevertheless I am certainly missing an opportunity to optimise the site to attract more traffic and generate more money because blogger does not give me many options to fully optimise the site.
I often think about registering my own domain and moving my site to an independent host where I will have more control and will probably be able to increase page hits and to generate more traffic.
Having said all of that I am pretty determined not to use any of my money on it so when I have cash coming from it I will use it to pay for the domain registration and hosting costs.
I am probably making a mistake, because if I do go ahead with a separate host and my own domain name I will probably make some money and get more traffic but I will try to make money from it in order to cover for those costs.
I am interested in your thoughts about this. Should I cover the expenses to register the domain and the hosting because of the potential to generate more traffic and in turn more money? I would appreciate your views on this point.
With regards to traffic, following are my monthly page views:
- July: 616
- August: 1514
- September: 1022
- October: 1655
- November: 2532
You can probably understand my frustration as the numbers above are quite depressing.
- Make some money on the site. I have only a couple of monetisation strategies on this site. AdSense and Amazon.
With regards to Adsense, there are a few adds on the site. the total income from it for the past 5 months has been about $30. Again not much at all.
On the amazon front I started an online shop and I often place adds on the posts. The income from them has been about $6.
I have been thinking that I can continue to research and learn about personal finances without spending the time to publish posts on this blog and to continually think of ways to improve its layout and how the information is published.
With regards to making money, I can certainly find a second job to boost my income in a more effective and efficient way.
Considering that I have made about $36 in 5 months, If I spent about 2 hours a day, 5 days a week, then I have made about $0.03 per hour worked. That is embarrassing.
Having said that I still think that if I push on with this, the potential of generating long term income is far greater than what I can get by finding a temporary second job to boost my income.
In conclusion, I have learned a lot about personal finances and starting micro online business. The traffic and income produced by this blog have been depressing and as a consequence I am thinking of dedicating my time to producing income from more effective and efficient ways (I can certainly make more than 3 cents per hour if I have another job or search for other income generating sources). Nevertheless I am pretty determined to continue with this blog for a few months to see where I get to.
Regardless of all of the above, I can’t help thinking that this is a colossal waste of my time and effort.
Would love to know your thoughts about it!
Thursday, December 2, 2010
Passive income opportunities
This post is a bit of dummy spit from me. Not a nice start, I apologise for that. I get very annoyed by the main stream financial advice available in personal finances magazine or even on TV. The main advice you get from the experts is to cur your expenses,save your money, put it into your superannuation, or 401K if you are in the USA and have an emergency fund.
Whilst they are not wrong I believe they are missing the point. Think about the following scenario:
A family of 4 with two children children and both working parents. They earn the average family income of about $80 000. They are trying to save as much as possible to go on holidays, to build an emergency fund or to save for the children's college fund. Nevertheless with the increase in the cost of living they are finding hard to find ways to save more.
As the interest rates keep on going up, in Australia anyway, they continually struggle to pay for all the bills on time and afford the mortgage payment and they are doing all that they can to keep their house.
As mentioned above thy have already cur their expenses as much as possible. So what now?
Their income barely meets their expenses and they have already cut as many expenses as they can. So the advice they get from the main stream media is not achievable. One of the parents can find a weekend job but the pay will not make much difference.
In this case they need to make more money, Not through extra employment or short term solutions. they need a long term solution to increase their income so they can achieve their financial dreams.
The answer is in passive income. Passive income is income earned without someone having to work for it. Once the passive income stream is setup all you need to do is sit back and watch the money come in.
It is not very easy to acquire passive income, that is why not many people have passive income sources. Nevertheless with the right education, time and persistence, anyone can have a few sources of passive income that bring in a few hundred dollars, or even thousands every month.
The first step towards having passive income is learning about it. The following articles will give you an introduction of what passive income is and how to setup different streams of passive income:
Whilst they are not wrong I believe they are missing the point. Think about the following scenario:
A family of 4 with two children children and both working parents. They earn the average family income of about $80 000. They are trying to save as much as possible to go on holidays, to build an emergency fund or to save for the children's college fund. Nevertheless with the increase in the cost of living they are finding hard to find ways to save more.
As the interest rates keep on going up, in Australia anyway, they continually struggle to pay for all the bills on time and afford the mortgage payment and they are doing all that they can to keep their house.
As mentioned above thy have already cur their expenses as much as possible. So what now?
Their income barely meets their expenses and they have already cut as many expenses as they can. So the advice they get from the main stream media is not achievable. One of the parents can find a weekend job but the pay will not make much difference.
In this case they need to make more money, Not through extra employment or short term solutions. they need a long term solution to increase their income so they can achieve their financial dreams.
The answer is in passive income. Passive income is income earned without someone having to work for it. Once the passive income stream is setup all you need to do is sit back and watch the money come in.
It is not very easy to acquire passive income, that is why not many people have passive income sources. Nevertheless with the right education, time and persistence, anyone can have a few sources of passive income that bring in a few hundred dollars, or even thousands every month.
The first step towards having passive income is learning about it. The following articles will give you an introduction of what passive income is and how to setup different streams of passive income:
Wednesday, December 1, 2010
Top ten savings tips
Want to save your money but don’t know where to start? Or perhaps you are have already gone through the process of cutting your expenses but it has not been enough?
Whatever your circumstances, I have compiled ten easy ways save on your daily expenses.
1 – The first tip to me is the most important and it is key to achieving your financial goals. If you have a partner, wife or husband, make sure that both of you agree with the financial decisions you make and that you are both committed to achieving the same goal.
2 - Establish a budget, then set up your pay so it automatically goes into separate accounts. You can have different accounts for different purposes, home loan, savings or anything can helps you to keep your finances in control.
3 - Keep a record of all spending. This way you know where your money is going and you can find more ways to cut your expenses. Reconcile your expenses with your budget as often as you need to keep your finances in control.
4 - Write down your goals and place this somewhere you can be always reminded of them. Commit them to memory and when you are considering spending your money weight the expense against your goal. This can help you to keep motivated and to make decisions that you won’t regret in the future.
5 - Take 10 minutes to consider your meals for the week and plan your grocery list. It curbs 'impulse' buys and throwing away unused food!
6 – Your weekly groceries can sometimes be a bit of a surprise unless you walk around the supermarket with a calculator adding up everything that goes into the trolley. Doing your groceries online helps you stick to your budget by checking the total cost prior to purchasing.
7 – Eating out can add up quite quickly. Have breakfast at home and bring your lunch to work. As a reward budget yourself to buy lunch once a week. I am always appalled when I have breakfast out and pay almost $20 buckets for a fried egg and a cup of coffee. No more!
8 – Never pay your bills late. Set reminders 1 month before a bill is due – this should give you time to arrange your budget and make payments on time.
9 - Work out how much you want to spend for next Christmas, open a separate account and auto deposit over the year. This way you avoid doing your Christmas shopping on credit and working half of the year to pay that off, or even longer depending on your circumstances.
10 - Don't deprive yourself completely. Factor in the odd treat, otherwise you may never stick to your budget.
Whatever your circumstances, I have compiled ten easy ways save on your daily expenses.
1 – The first tip to me is the most important and it is key to achieving your financial goals. If you have a partner, wife or husband, make sure that both of you agree with the financial decisions you make and that you are both committed to achieving the same goal.
2 - Establish a budget, then set up your pay so it automatically goes into separate accounts. You can have different accounts for different purposes, home loan, savings or anything can helps you to keep your finances in control.
3 - Keep a record of all spending. This way you know where your money is going and you can find more ways to cut your expenses. Reconcile your expenses with your budget as often as you need to keep your finances in control.
4 - Write down your goals and place this somewhere you can be always reminded of them. Commit them to memory and when you are considering spending your money weight the expense against your goal. This can help you to keep motivated and to make decisions that you won’t regret in the future.
5 - Take 10 minutes to consider your meals for the week and plan your grocery list. It curbs 'impulse' buys and throwing away unused food!
6 – Your weekly groceries can sometimes be a bit of a surprise unless you walk around the supermarket with a calculator adding up everything that goes into the trolley. Doing your groceries online helps you stick to your budget by checking the total cost prior to purchasing.
7 – Eating out can add up quite quickly. Have breakfast at home and bring your lunch to work. As a reward budget yourself to buy lunch once a week. I am always appalled when I have breakfast out and pay almost $20 buckets for a fried egg and a cup of coffee. No more!
8 – Never pay your bills late. Set reminders 1 month before a bill is due – this should give you time to arrange your budget and make payments on time.
9 - Work out how much you want to spend for next Christmas, open a separate account and auto deposit over the year. This way you avoid doing your Christmas shopping on credit and working half of the year to pay that off, or even longer depending on your circumstances.
10 - Don't deprive yourself completely. Factor in the odd treat, otherwise you may never stick to your budget.
Technorati Tags: financial independence,saving money
Monday, November 29, 2010
Financial independence compilation, habits of successful people, get rid of debt and make money
Welcome to the November 29, 2010 edition of financial independence.
Your Financial Independence Articles
Ten habits of highly successful people - There are many different sayings that reinforce the importance of learning from others with more experience than ourselves. This can save a lot trouble and can help us to achieve our objectives faster.
I have compiled a list of 10 habits, or qualities, of highly successful people. I honestly believe that anyone can develop these habits and progress to achieve anything in life.
Maybe I am a little naive but hey, it worked for them so it will probably work for me as well.
How to make some extra money - I have read quite a few articles about how to make some extra money. There is a wide range of advice that goes from saving, to keep the money in your pocket, to using your credit card to make money through rewards.
Here are a few of my favorite tips.
Personal finances management for when you are broke, debt consolidation home equity loans - It can be very difficult to budget when you are under financial stress. The following tips are aimed to us to budget when lacking a bit of cash.
Reasons to say NO to credit - It is very easy to get credit these days. Many credit card companies offer introductory rates that are very attractive, combine it with a culture that encourages to spend money then there is potential for a personal finances disaster.
Our society seems to place value on the things we have and not who we actually are. I observe this whenever I go. People compare the cars they drive, the school the kids go to or the clothes they wear. It is ridiculous. This encourages people to purchase stuff using credit.
Here are a few reasons why you should say no to credit.
Videos on how to be successful - The following videos provide quick and valuable tips on how to be successful.
Reader’s Articles
Jason Vincion presents How to Invest posted at For the Love of Creativity, saying, "A blog post that offers suggestions on how to find sound investments that accrue interest over the rate of inflation."
Rosetta presents Cash Flow Notes posted at Stock Tips, saying, "Cash flow notes are similar to an IOU for debts that can either be purchased or sold. Get some investment tips if you wish to have smooth transactions with potential note buyers."
Everything Finance presents The Top 3 Ways to Entertain your Business Clients posted at Small Business Resource, saying, "When it comes to business, it is vital that companies form good working relationships with their clients. Trust is invaluable to fostering a successful partnership; socialising with your contacts outside of the office environment can be a great way to build it. If your clients are based far away from you and you only have the opportunity to meet every so often, you need to make the most of this time in order to get to know each other."
Silicon Valley Blogger presents PenFed Credit Union Credit Cards Review posted at The Digerati Life, saying, "Have you thought about getting a credit card from a credit union? Here's a review of cards from PenFed."
Ryan @ MFN presents How to Find Unclaimed Property and Money posted at The Military Wallet, saying, "Tips on how to search state records for free to find missing money, such as paychecks, tax refunds, and other money you are owed."
Tim Chen presents Get $100 With the New American Express Blue Sky Preferred posted at NerdWallet Blog - Credit Card Watch, saying, "American Express just rolled out a spanking new offer, introducing the Blue Sky Preferred credit card, and they’re giving away $100 to boot."
Ray @ Financial Highway presents Car Maintenance: 8 Tips to Cut Down on Costs posted at Financial Highway, saying, "Maintaining a car can take up a large chunk of your income, here are 8 tips to help you cut down on your expenses."
Highest CD Rates presents Choosing the Best CD for You posted at Highest CD Rates Info, saying, "A certificate of deposit can be a low risk part of any investment portfolio."
Odysseas presents ‘Money is Not Easy, but It’s Simple’ posted at Wallet Blog, saying, "Hey, taking control of you financial future takes patience, but it does not have to be complicated when you set appropriate goals and know what your priorities should be."
Jeff Weber presents Who Can and Can't Benefit from the Citi Platinum Card posted at Smart Balance Transfers, saying, "The Citi Platinum select card is good for consumers who can benefit from low rates, but not ideal for those who pay their balances every month and could realize greater benefits with a rewards credit card."
Andrea McDougal presents Follow the Money:12 Big Public Works Projects Funded by US Stimulus Money posted at Masters in Project Management, saying, "Big public works are being funded by US stimulus money. These things range from major road and public transportation revamping to smart grid projects throughout the country."
BWL presents Is it Smart To Borrow Money To Invest? posted at Christian Personal Finance, saying, "A look at whether or not investors should be borrowing more money to invest..."
Mitch Archuleta presents Roth IRA CD Laddering posted at RothIRA.com's Retirement Planning Blog.
Michael Pruser presents Citi $50 Cash Back Student Holiday Offer posted at The Dough Roller, saying, "thanks for the inclusion"
Michael presents 20+ Christmas Gift Ideas Under $100 posted at Consumerism Commentary, saying, "A great list of Christmas gift ideas"
PT presents 2010 Tax Brackets: What Is My Tax Bracket? posted at Prime Time Money, saying, "Know your brackets and know how to plan to pay fewer taxes."
Alexander presents A Defensive Stock With A Generous Yield posted at Dividend Stocks, saying, "Value investors looking for a long term stock with a dividend that is likely to increase over the next few years should turn their attention to Lockheed Martin."
Moneyedup presents What About Savings Bonds? posted at MoneyedUP, saying, "These investments are perfect for everyone from infants to the elderly. Savings bonds have been around forever and are still as popular as ever."
freefrombroke presents Building Credit From Scratch – Are Young Adults Doomed for Financial Failure? posted at Free From Broke, saying, "Do young adults have the cards stacked against them as they try to build up new credit? Temptation and student loans make it difficult for young adults to get ahead."
Ryan @ CML presents How to Calculate the Yield on Cost of a Dividend Stock posted at Cash Money Life, saying, "Tips on calculating the yield on cost of a dividend stock, an important indicator of how your dividend portfolio is performing."
Ryan @ MFN presents When Should You Start Receiving Social Security Benefits? posted at The Military Wallet, saying, "Choosing to delay receiving Social Security Benefits can increase the amount you receive. These tips can help you maximize your Social Security Benefits."
Stretching the One Income Dollar presents Stretching the One Income Dollar: 10 No Money Down Ways to Buy Real Estate posted at Stretching the One Income Dollar, saying, "Thank you for consideration of my article."
MoneyNing presents How To Teach Your Kids To Budget posted at Money Ning, saying, "How would you teach your kids how to budget? Do you think it's important?"
Arjun Rudra presents Discussing the investment case for Kinross Gold (K:TSX) with Bruce Campbell of Campbell & Lee Investment Management posted at Investing Thesis, saying, "While many have argued that gold will continue to outperform going forward, there are equally as many who argue against an investment in gold , including the Oracle of Omaha. While there are valid points on either side of the argument it is you who has to judge on which side of the debate you fall. Having said that, if you happen to fall on the side that calls for an investment in gold , you’ll likely enjoy the following interview."
Money Crashers presents » What Is Divorce Insurance Coverage? posted at Money Crashers, saying, "One of the latest products to be rolled out by the insurance industry is divorce insurance. Yes, you heard me correctly, divorce insurance. The question is, what exactly is it and should you consider it?"
Youdondour torres presents Quick sameday advance posted at Pay Day Loans For You Today!.
Youdondour torres presents Payday loans online and how they work posted at Quick and easy payday loan!.
That concludes this edition. Submit your blog article to the next edition of financial independence using our carnival submission form. Past posts and future hosts can be found on our blog carnival index page.
Saturday, November 27, 2010
Videos on how to be successful
The following videos provide quick and valuable tips on how to be successful.
Stephen Covey on setting priorities video
The 4 Disciplines of Execution
Stephen Covey on setting priorities video
Setting priorities
Quest for success: get very clear on how you intend to live your life
Quest for success
The 4 Disciplines of Execution
Friday, November 26, 2010
Ten habits of highly successful people
There are many different sayings that reinforce the importance of learning from others. It can save a lot trouble and can help you to achieve your objectives faster.
I have compiled a list of 10 habits, or qualities, of highly successful people.
1. Successful people look to see opportunities where others see nothing
Successful people are always looking for opportunities. They don’t listen to the people that discourage them. They objectively look at every business opportunity even when others see nothing.
That does not mean that their ideas always work out. However they are willing to think outside the box and to try things out.
You may start thinking that you are just an ordinary person that doesn’t know how to think outside the box or that everyone else is more clever than you. Don’t think that way. Looking for opportunities is a skill that you should practice and learn with experience.
Personal finances application: Look for opportunities to make extra money. It can be through opening a small online business, a blog or many other ways.
The following articles show you a few ideas ion how to make extra money:
2. Successful people are solutions focused
Successful people are always trying to find solutions to problems. They don’t dwell on the problem, they understand it and look for ways to solve the problem.
Personal finances application: Do you have financial problems? Maybe you have a bit of debt that you want to get rid of or you struggle to follow your budget. Stop focusing on the problem, stop saying to yourself that you have a problem and make a list of possible solutions.
Once you have that list prioritise it and work you way through your ideas in order to find solutions to your problems.
3. Successful people create their own success
This is key to anyone that wants to achieve anything in life. Success won’t come your way, you need to chase it, to create your own success.
What that means is that you will not wait without action to achieve your dreams. Successful people are action oriented, they look for opportunities and they take action. This way you will attract success towards you.
Personal finances application: Define what financial success means to you and write it down. make this list your objective and work hard towards achieving it.
The following articles contain great tips on how to pursue your own success.
4. Successful people are fearful but they take action anyway
Successful people are just like you. They think about the things that can go wrong and they are fearful of them. However they are not controlled by their fears. Being brave is taking action despite fears. That is exactly what successful do.
Now, don’t go crazy on this. You need to evaluate your actions and risks involved. Look at reach potential risk and think about ways to remedy those risks if they ever evaluate. Once you do this you are ready to take action.
With a bit of planning and risk assessment you can take action despite your fears.
Personal finances application: Are you afraid of starting your own business, maybe a blog to start with? Maybe you are afraid that your action won’t bring the results you expect.
If you have made a list of potential solutions to your financial problems (from item 2 above) then evaluate the possible outcome of each option and think about ways to remedy those risks if they ever eventuate.
Once you have done that you are ready for action.
The following article relates to risk taking when investing in shares:
5. Successful people take responsibility for their actions and outcomes
Successful people take responsibility for their actions. If they are responsible for the action of others such as their employees for example, they also take responsibility for those.
They don’t blame anyone else. If you want to be successful you need to take a critical look at your actions and their outcomes and take responsibility for them.
If you stop blaming you open doors to start learning. Once you say that something is your responsibility you are ready to evaluate what happened and learn from it.
Personal finances application: Can you think of anything you have done in the pats to address your financial issues and the outcome wasn’t quite what you expected? Maybe you blamed somebody else, the world economy, the customers that didn’t buy your product of the investment that didn’t go quite right.
Look at what happened and take responsibility for the outcome. You step is t them look at what happened and learn from it.
The following article discusses the topic of taking responsibility for your personal finances:
6. Successful people look for ways of maximizing their potential
Successful people know they shortcomings and the areas that they need to improve. They know that they are as talented as anyone else and that there is lots of potential for improvement.
If you want to be successful you need to recognize the areas that you need to improve and work on them. Successful people are always improving themselves in whatever field they are involved in.
Personal finances application: Take a critical look at your financial skills. Can you see any areas that need improvement? Maybe you want to learn more about basic accounting or real estate investment.
Focus on the fact that you know that you can address those areas and start working on it.
The following link takes you t an article about basic accounting. Anyone on the road to financial independence needs to control basic accounting principles and know how to apply them in real life.
7. Successful people are productive
Successful people are always busy. They are always doing something. They don’t sit around doing nothing. They are focussed on their objectives and they work hard towards achieving it.
It is very important to live a balanced life as well. If you have a family it is important to spend time with them. Being focused and action oriented does not mean that it is the only thing you do in life. it means that when it is time for work you are doing something and working hard towards achieving your objectives.
It is important to take breaks and to live a balanced life so you can enjoy all areas of your life.
Personal finances application: Create a action calendar. Mark the days and the time where you will be working towards achieving your financial objectives and stick to it.
Be flexible and adapt your calendar to suit all aspects of your life including the time you spend at work and with your family.
The following article discusses the topic of taking action in order to achieve your objectives:
8. Successful people develop relationships with like-minded people
Successful people relate to people that are like-minded and that will encourage them to achieve their objectives.
Look for people that want to achieve the same objectives as you and develop and relationship with them.
This does not mean that you will be calling a few people and then to be your friend. That would be pathetic. You can do this by looking for like minded people on the internet and read about what they do and if possible communicate with them.
This can be done by following the blogs of like minded people, following them on twitter and facebook. It may not look like you are developing relationships with them but you are. You are listening to what they have to say, you are commenting on their blogs and exchanging ideas. That is developing a relationship.
Personal finances application: Do you want to be financially independent one day? If yes them follow me on this blog, twitter and facebook. Comment on the articles on this blog and I will make sure to reply to your comments as quickly as I can.
The following links will take you to my twitter and facebook accounts:
The following links will take you to some other blogs about personal finances. If you like what the other authors say then follow them or comment on their blog posts.
9. Successful people innovate rather than imitate
Successful people don’t copy what other people do, they innovate, they look for opportunities and improve on what others do.
Microsoft for example, they keep on buying other companies and they improve their software and make tons of money by improving them.
Look for ideas of what other people have done and look for opportunities to improve or innovate what others have done.
Personal finances application: Look for small business opportunities. Maybe you can teach someone or provide a service. Look at what other people are doing and improve on it. Innovate. You can teach using a different, improved technique or resources.
10. Successful people have a clear vision for what they want for their lives and work towards achieving it.
If you want to achieve anything in life, the first step is knowing what you want to achieve.
Write down your dreams and objectives clearly and concisely. Then visualise them, memorise them and focus on the fact that you know that you can achieve it.
Personal finances application: Write down your personal finances objectives. Make that your master list, perhaps set yourself some dates and work towards achieving them.
Make the list a dynamic one that changes as you achieve your objectives or that changes as your life changes.
Include long term and short term objectives and have an action plan.
The most important of it all is knowing what to achieve and to take action towards achieving your financial objectives.
I have compiled a list of 10 habits, or qualities, of highly successful people.
1. Successful people look to see opportunities where others see nothing
Successful people are always looking for opportunities. They don’t listen to the people that discourage them. They objectively look at every business opportunity even when others see nothing.
That does not mean that their ideas always work out. However they are willing to think outside the box and to try things out.
You may start thinking that you are just an ordinary person that doesn’t know how to think outside the box or that everyone else is more clever than you. Don’t think that way. Looking for opportunities is a skill that you should practice and learn with experience.
Personal finances application: Look for opportunities to make extra money. It can be through opening a small online business, a blog or many other ways.
The following articles show you a few ideas ion how to make extra money:
2. Successful people are solutions focused
Successful people are always trying to find solutions to problems. They don’t dwell on the problem, they understand it and look for ways to solve the problem.
Personal finances application: Do you have financial problems? Maybe you have a bit of debt that you want to get rid of or you struggle to follow your budget. Stop focusing on the problem, stop saying to yourself that you have a problem and make a list of possible solutions.
Once you have that list prioritise it and work you way through your ideas in order to find solutions to your problems.
3. Successful people create their own success
This is key to anyone that wants to achieve anything in life. Success won’t come your way, you need to chase it, to create your own success.
What that means is that you will not wait without action to achieve your dreams. Successful people are action oriented, they look for opportunities and they take action. This way you will attract success towards you.
Personal finances application: Define what financial success means to you and write it down. make this list your objective and work hard towards achieving it.
The following articles contain great tips on how to pursue your own success.
4. Successful people are fearful but they take action anyway
Successful people are just like you. They think about the things that can go wrong and they are fearful of them. However they are not controlled by their fears. Being brave is taking action despite fears. That is exactly what successful do.
Now, don’t go crazy on this. You need to evaluate your actions and risks involved. Look at reach potential risk and think about ways to remedy those risks if they ever evaluate. Once you do this you are ready to take action.
With a bit of planning and risk assessment you can take action despite your fears.
Personal finances application: Are you afraid of starting your own business, maybe a blog to start with? Maybe you are afraid that your action won’t bring the results you expect.
If you have made a list of potential solutions to your financial problems (from item 2 above) then evaluate the possible outcome of each option and think about ways to remedy those risks if they ever eventuate.
Once you have done that you are ready for action.
The following article relates to risk taking when investing in shares:
5. Successful people take responsibility for their actions and outcomes
Successful people take responsibility for their actions. If they are responsible for the action of others such as their employees for example, they also take responsibility for those.
They don’t blame anyone else. If you want to be successful you need to take a critical look at your actions and their outcomes and take responsibility for them.
If you stop blaming you open doors to start learning. Once you say that something is your responsibility you are ready to evaluate what happened and learn from it.
Personal finances application: Can you think of anything you have done in the pats to address your financial issues and the outcome wasn’t quite what you expected? Maybe you blamed somebody else, the world economy, the customers that didn’t buy your product of the investment that didn’t go quite right.
Look at what happened and take responsibility for the outcome. You step is t them look at what happened and learn from it.
The following article discusses the topic of taking responsibility for your personal finances:
6. Successful people look for ways of maximizing their potential
Successful people know they shortcomings and the areas that they need to improve. They know that they are as talented as anyone else and that there is lots of potential for improvement.
If you want to be successful you need to recognize the areas that you need to improve and work on them. Successful people are always improving themselves in whatever field they are involved in.
Personal finances application: Take a critical look at your financial skills. Can you see any areas that need improvement? Maybe you want to learn more about basic accounting or real estate investment.
Focus on the fact that you know that you can address those areas and start working on it.
The following link takes you t an article about basic accounting. Anyone on the road to financial independence needs to control basic accounting principles and know how to apply them in real life.
7. Successful people are productive
Successful people are always busy. They are always doing something. They don’t sit around doing nothing. They are focussed on their objectives and they work hard towards achieving it.
It is very important to live a balanced life as well. If you have a family it is important to spend time with them. Being focused and action oriented does not mean that it is the only thing you do in life. it means that when it is time for work you are doing something and working hard towards achieving your objectives.
It is important to take breaks and to live a balanced life so you can enjoy all areas of your life.
Personal finances application: Create a action calendar. Mark the days and the time where you will be working towards achieving your financial objectives and stick to it.
Be flexible and adapt your calendar to suit all aspects of your life including the time you spend at work and with your family.
The following article discusses the topic of taking action in order to achieve your objectives:
8. Successful people develop relationships with like-minded people
Successful people relate to people that are like-minded and that will encourage them to achieve their objectives.
Look for people that want to achieve the same objectives as you and develop and relationship with them.
This does not mean that you will be calling a few people and then to be your friend. That would be pathetic. You can do this by looking for like minded people on the internet and read about what they do and if possible communicate with them.
This can be done by following the blogs of like minded people, following them on twitter and facebook. It may not look like you are developing relationships with them but you are. You are listening to what they have to say, you are commenting on their blogs and exchanging ideas. That is developing a relationship.
Personal finances application: Do you want to be financially independent one day? If yes them follow me on this blog, twitter and facebook. Comment on the articles on this blog and I will make sure to reply to your comments as quickly as I can.
The following links will take you to my twitter and facebook accounts:
The following links will take you to some other blogs about personal finances. If you like what the other authors say then follow them or comment on their blog posts.
9. Successful people innovate rather than imitate
Successful people don’t copy what other people do, they innovate, they look for opportunities and improve on what others do.
Microsoft for example, they keep on buying other companies and they improve their software and make tons of money by improving them.
Look for ideas of what other people have done and look for opportunities to improve or innovate what others have done.
Personal finances application: Look for small business opportunities. Maybe you can teach someone or provide a service. Look at what other people are doing and improve on it. Innovate. You can teach using a different, improved technique or resources.
10. Successful people have a clear vision for what they want for their lives and work towards achieving it.
If you want to achieve anything in life, the first step is knowing what you want to achieve.
Write down your dreams and objectives clearly and concisely. Then visualise them, memorise them and focus on the fact that you know that you can achieve it.
Personal finances application: Write down your personal finances objectives. Make that your master list, perhaps set yourself some dates and work towards achieving them.
Make the list a dynamic one that changes as you achieve your objectives or that changes as your life changes.
Include long term and short term objectives and have an action plan.
The most important of it all is knowing what to achieve and to take action towards achieving your financial objectives.
Thursday, November 25, 2010
How to make some extra money
I have read quite a few articles about how to make some extra money. There is a wide range of advice that goes from saving, to keep the money in your pocket, to using your credit card to make money through rewards.
Here are a few of my favorite tips.
Create ad supported websites or blogs
This can be a bit time consuming and it can take a while to give you the return you want. Nevertheless there is a lot of potential for long term, enjoyable earnings.
An easy way to start is by using the Google’s blogger site. It will take literally a few minutes to setup a blog, and then you can add a variety of monetisation strategies including adsense, chitika ads and more.
Sell your old stuff
A garage sale can put some money in your pocket and, at the same time, help you to get rid of your old stuff.
My neighbor does at least 2 garage sales a year and often makes more than $1000 from them.
The kids also like to join in the fun and sometimes they sell drinks for $.50c.
It is great fun!
Resell items
Do a little research online and find which items are on demand and how much you can get by selling them online. Once you have your little list go shopping. Buy those items in garage sales or cheap shops and resell them online for a profit.
Don’t forget to including postage when you calculate how much you need to charge for your items.
Offer your service to others
There are many people that need different types of services. Lawn mowing, pet sitting, grocery shopping and more. Try offering your services through your local paper and you can probably make a few bucks from it.
Use your current job skills
Take what you do in your current job and consider offering the same service to others during the weekend or night time. A similar option is to teach what you know to others.
Telecommute, car pooling
Make money by saving the money you spend in gas. Speak to your employer about the possibility of telecommuting or speak to your colleagues about car pooling.
Flip websites
If you have the technical skills then create websites with traffic and income potential and flip it. Have a look at flippa.com for a few ideas.
Sell photos online
Anyone cam get out there in the great outdoors and take some good quality pictures. During the weekend take your camera with you, take a few pics and sell them online.
Before you go out taking the pictures do a little research online to find out the topics that are in demand. This can help you to take targeted pictures which will improve your sales potential.
Take a real estate course and become a real estate agent
I know this sounds a little wild but it is definitely an idea with huge earning potential. if you are a stay at home mum talk to your partner about take weekend courses on real estate selling and get yourself licensed.
Once you do that you can start an online real estate agency which has less overheads to you and therefore you charge a little les commission from your customers every time you sell.
People already do that on eBay. There is nothing preventing you from creating an online shop to sell, well to sell properties.
If you do that make sure you do your research to get yourself insured and make sure that you follow all of the required legal obligations.
Here are a few of my favorite tips.
Create ad supported websites or blogs
This can be a bit time consuming and it can take a while to give you the return you want. Nevertheless there is a lot of potential for long term, enjoyable earnings.
An easy way to start is by using the Google’s blogger site. It will take literally a few minutes to setup a blog, and then you can add a variety of monetisation strategies including adsense, chitika ads and more.
Sell your old stuff
A garage sale can put some money in your pocket and, at the same time, help you to get rid of your old stuff.
My neighbor does at least 2 garage sales a year and often makes more than $1000 from them.
The kids also like to join in the fun and sometimes they sell drinks for $.50c.
It is great fun!
Resell items
Do a little research online and find which items are on demand and how much you can get by selling them online. Once you have your little list go shopping. Buy those items in garage sales or cheap shops and resell them online for a profit.
Don’t forget to including postage when you calculate how much you need to charge for your items.
Offer your service to others
There are many people that need different types of services. Lawn mowing, pet sitting, grocery shopping and more. Try offering your services through your local paper and you can probably make a few bucks from it.
Use your current job skills
Take what you do in your current job and consider offering the same service to others during the weekend or night time. A similar option is to teach what you know to others.
Telecommute, car pooling
Make money by saving the money you spend in gas. Speak to your employer about the possibility of telecommuting or speak to your colleagues about car pooling.
Flip websites
If you have the technical skills then create websites with traffic and income potential and flip it. Have a look at flippa.com for a few ideas.
Sell photos online
Anyone cam get out there in the great outdoors and take some good quality pictures. During the weekend take your camera with you, take a few pics and sell them online.
Before you go out taking the pictures do a little research online to find out the topics that are in demand. This can help you to take targeted pictures which will improve your sales potential.
Take a real estate course and become a real estate agent
I know this sounds a little wild but it is definitely an idea with huge earning potential. if you are a stay at home mum talk to your partner about take weekend courses on real estate selling and get yourself licensed.
Once you do that you can start an online real estate agency which has less overheads to you and therefore you charge a little les commission from your customers every time you sell.
People already do that on eBay. There is nothing preventing you from creating an online shop to sell, well to sell properties.
If you do that make sure you do your research to get yourself insured and make sure that you follow all of the required legal obligations.
Wednesday, November 24, 2010
Reasons to say NO to credit
It is very easy to get credit these days. Many credit card companies offer introductory rates that are very attractive, combine it with a culture that encourages to spend money then there is potential for a personal finances disaster.
Our society seems to place value on the things we have and not who we actually are. I observe this whenever I go. People compare the cars they drive, the school the kids go to or the clothes they wear. It is ridiculous. This encourages people to purchase stuff using credit.
Here are a few reasons why you should say no to credit.
Self Control
Lack of self control when dealing with your finances can end up in financial disaster. Exercising self control in financial matters can help you to achieve other things in life such as weight loss or the endurance to achieve very difficult goals.
Having self control is very important because it can help us to achieve or dreams. Financial self control can help us to buy a house, to go on holidays (fully paid with cash of course) and to stay out of trouble that can come from unsecured debt.
Using credit means you are not following your budget
Budgeting does not need to be complex. All you need is to do some simple planning and track your expenses. If you are using your credit card to finance everyday purchases then you are not following your budget.
If you are using your credit card to help with your cash flow then it is likely that you are spending more than what you earn.
Get those expenses under control, find other streams of income and get your budget on the black.
Whatever you do avoid using credit to finance everyday purchases.
If you want to learn how to create a budget and stick to it then click here.
Credit card interest rates are very high
The average credit card will charge over 20% pa interest. That means that if you owe $5000 over the course of one year you will pay $1000 in interest. That is almost $100 a month just for interest. Again just for the interest.
These days $5000 in a credit card balance is low. Creditcards.com says that average credit card debt per household is $15,788. If you are paying 20% interest on that, it is an amazing $3157 per year. Imagine what you could do with all of that money.
Poor financial habits can impact your personal relationships
Money is often the reason that couples fight. it is a very touchy subject especially if the couple is not working together. Budgeting for the family should be done with the family. If one person tries to enforce a budget the chances of success are very low.
Using credit cards can lead to bankruptcy
In the worst case scenario, if you spend too much and then cannot repay it you may have to declare bankruptcy which can affect your credit rating for up to 10 years. Prevention is better than cure.
Debt free brings peace of mind
Being in debt is very stressful. You are constantly worrying about your cash flow, making your payments and when you will be debt free,
Not having any debt brings an amazing peace of mind because you don’t have to worry about paying interest and you are in control of your cash flow. being debt free lets you worry about other things such as when you go to the beach next or how you are going to achieve your next financial objective ( not with credit please).
Conclusion
Credit card can be useful in case you are caught in a emergency situation without an emergency fund. Apart from that there are plenty of reasons for staying away from debt.
If you cannot afford to buy something with cash then you cannot afford to buy it with credit, then just don’t buy it. This article provides a few tips on how to avoid credit card debt.
Become your own financial hero by staying away from debt.
Our society seems to place value on the things we have and not who we actually are. I observe this whenever I go. People compare the cars they drive, the school the kids go to or the clothes they wear. It is ridiculous. This encourages people to purchase stuff using credit.
Here are a few reasons why you should say no to credit.
Self Control
Lack of self control when dealing with your finances can end up in financial disaster. Exercising self control in financial matters can help you to achieve other things in life such as weight loss or the endurance to achieve very difficult goals.
Having self control is very important because it can help us to achieve or dreams. Financial self control can help us to buy a house, to go on holidays (fully paid with cash of course) and to stay out of trouble that can come from unsecured debt.
Using credit means you are not following your budget
Budgeting does not need to be complex. All you need is to do some simple planning and track your expenses. If you are using your credit card to finance everyday purchases then you are not following your budget.
If you are using your credit card to help with your cash flow then it is likely that you are spending more than what you earn.
Get those expenses under control, find other streams of income and get your budget on the black.
Whatever you do avoid using credit to finance everyday purchases.
If you want to learn how to create a budget and stick to it then click here.
Credit card interest rates are very high
The average credit card will charge over 20% pa interest. That means that if you owe $5000 over the course of one year you will pay $1000 in interest. That is almost $100 a month just for interest. Again just for the interest.
These days $5000 in a credit card balance is low. Creditcards.com says that average credit card debt per household is $15,788. If you are paying 20% interest on that, it is an amazing $3157 per year. Imagine what you could do with all of that money.
Poor financial habits can impact your personal relationships
Money is often the reason that couples fight. it is a very touchy subject especially if the couple is not working together. Budgeting for the family should be done with the family. If one person tries to enforce a budget the chances of success are very low.
Using credit cards can lead to bankruptcy
In the worst case scenario, if you spend too much and then cannot repay it you may have to declare bankruptcy which can affect your credit rating for up to 10 years. Prevention is better than cure.
Debt free brings peace of mind
Being in debt is very stressful. You are constantly worrying about your cash flow, making your payments and when you will be debt free,
Not having any debt brings an amazing peace of mind because you don’t have to worry about paying interest and you are in control of your cash flow. being debt free lets you worry about other things such as when you go to the beach next or how you are going to achieve your next financial objective ( not with credit please).
Conclusion
Credit card can be useful in case you are caught in a emergency situation without an emergency fund. Apart from that there are plenty of reasons for staying away from debt.
If you cannot afford to buy something with cash then you cannot afford to buy it with credit, then just don’t buy it. This article provides a few tips on how to avoid credit card debt.
Become your own financial hero by staying away from debt.
Tuesday, November 23, 2010
Personal finances management for when you are broke, debt consolidation home equity loans
It can be very difficult to budget when you are under financial stress. The following tips are aimed to us to budget when lacking a bit of cash.
Avoid getting evicted
It is very important to address immediate issues such as rental or mortgage payments.
if you are short on cash to pay for these bills then take a look at other bills you have to pay, such as electricity and mobile phone, and try to call the other companies and delay the payment of those bills in order to pay for your mortgage or rent.
Review your credit cards
Take a look at your credit cards and their due dates. A few months ago I was paying my credit card every time I got paid and I couldn’t figure out why I was short of cash before the next pay came. On top of that I couldn’t figure out why my credit card debt was not going down.
Turns out that I was putting too much cash into the credit cards and when I ran out of cash at the end of the pay period I used the credit cards again and the debt was never paid off and I was always running out of cash.
Now that was stupid. Take a look at the due dates of your credit cards and ensure that they are paid on time but, depending upon your circumstances you may be able to reschedule the dates you pay your credit cards in order to free up some cash for other obligations.
Just make sure you pay at least the minimum amount by the due date.
An couple of options to help you to pay off your credit card debt is debt consolidation and home equity loans.
With debt consolidation you can consolidate all of your unsecured debts into one payment that should be easier to afford.
If you have enough home equity you can also look at taking that equity out and use it to pay off your credit card debts. This is often a good idea because mortgage interest rates are much lower then credit card rates.
There are a few options to help you, do your research and take action.
Avoid getting evicted
It is very important to address immediate issues such as rental or mortgage payments.
if you are short on cash to pay for these bills then take a look at other bills you have to pay, such as electricity and mobile phone, and try to call the other companies and delay the payment of those bills in order to pay for your mortgage or rent.
Review your credit cards
Take a look at your credit cards and their due dates. A few months ago I was paying my credit card every time I got paid and I couldn’t figure out why I was short of cash before the next pay came. On top of that I couldn’t figure out why my credit card debt was not going down.
Turns out that I was putting too much cash into the credit cards and when I ran out of cash at the end of the pay period I used the credit cards again and the debt was never paid off and I was always running out of cash.
Now that was stupid. Take a look at the due dates of your credit cards and ensure that they are paid on time but, depending upon your circumstances you may be able to reschedule the dates you pay your credit cards in order to free up some cash for other obligations.
Just make sure you pay at least the minimum amount by the due date.
An couple of options to help you to pay off your credit card debt is debt consolidation and home equity loans.
With debt consolidation you can consolidate all of your unsecured debts into one payment that should be easier to afford.
If you have enough home equity you can also look at taking that equity out and use it to pay off your credit card debts. This is often a good idea because mortgage interest rates are much lower then credit card rates.
There are a few options to help you, do your research and take action.
Monday, November 22, 2010
Your Financial Independence Compilation, investing, personal finances and more
Welcome to the November 22, 2010 edition of financial independence.
Your Financial Independence Articles
How to make money blogging videos
Best tips for last minute Christmas shopping. It is beginning to feel a lot like Christmas! Shopping centres a decorated, Santa is around to take photos with the children, shops are playing carols and more…
I do think it is a little early to have all of that. I’d prefer they started at the beginning of December. But hey, it is not about the real meaning of Christmas, it is all about money. Oh, sorry about that, my cynicism is starting to show.
A few habits that are keeping you in debt. There are certain habits that we may have that unconsciously prevent us from paying off our debt and getting ahead.
Following are seven habits that may be holding us back from paying off debt and getting back into the black. Remember debt matters, it is important to get ahead in order to turbo charge you journey into financial independence.
Save you money shopping online. Online retailers are able to offer you more discounts than the normal shop because they don’t have the overheads of paying for rent and other expenses related to having a physical building.
How to turn income into wealth. The secret to financial independence is to turn your income into wealth. In other words, in order to be wealthy you need to take what you earn and make it work for you instead of you constantly working for money.
Reader's Articles
Rosa Wilson presents Change of Address: 10 Ways to Save Money On Your Grocery Bill posted at Change of Address.
Rosetta presents Interest Rates for IRA posted at Stock Tips, saying, "Finding the best IRA interest rates available today is a good way to protect your retirement portfolio. Learn how to calculate the interest rates for IRA to help get you better returns."
debt kid presents Are You Too Comfortable? posted at DebtKid.
Mark Aucamp presents Will the Buy-to-let market damage the housing market? posted at Money Saving Tips, Consumer Finance, Expert, Advice and Help | Talk Money Blog, saying, "Interesting view point"
Sun presents Treasure Hunt for Outing Discounts posted at The Sun’s Financial Diary.
Tim Chen presents WalMart MoneyCard vs Western Union MoneyWise: Prepaid Debit Card Showdown posted at NerdWallet Blog - Credit Card Watch, saying, "You’ve probably seen the WalMart MoneyCard at your local WalMart, offered in partnership with Green Dot Financial. While it’s definitely one of the better deals out there, it’s not the best deal."
FIRE Getters presents Tools - FireSafe Your Personal Finance Documents! posted at FIRE Finance, saying, "It's a nice idea to keep our important personal finance stuff in such a way that we can grab hold of it and leave at a moment's notice. In case we cannot do so, it'd be great to have a back-up at a safe place with an easy access in case of natural calamities or unforeseen disasters ...."
Steve Smith presents Several Reasons Why You Should Learn Currency Trading posted at Forex Trading System Central, saying, "Trading currencies can produce income that you need to support yourself and your family in these difficult times."
Cynthia Merritt presents 10 Things College Students Should Know About Credit Cards posted at College Crunch.
Jessica Bosari presents Investing for Your Retirement: Is it Time to Get Back in the Game? | billeater.com posted at Billeater, saying, "Is it time to start investing again?"
Jane Sanders presents How to Get Debt Collectors to Leave You Alone posted at Debt Management.
Alexander Peter presents Do Students Need A UTR Number? posted at UTR.org.uk, saying, "If you are self employed student you may need to apply for a UTR number to pay your taxes."
Charles Chua C K presents Effective Personal Budget for Financial Freedom posted at All About Living with Life.
David de Souza presents 4 Things Everyone Should Know About Inheritance Tax posted at UK Tax Blog, saying, "Guide to inheritance tax, how it works and what tax allowances you can claim"
Jessica Bosari presents Five Financial Problems Women Face and How to Manage Them | billeater.com posted at Billeater, saying, "Women's financial concerns"
Arjun Rudra presents Discussing Investing In Income Producing Assets Like Bonds And Dividend Stocks with Benoit Poliquin, CFA of Pallas Athena posted at Investing Thesis, saying, "Discussing income investing using preferred shares and dividend stocks."
Alex Deeds presents Top 50 Blogs for Yard Sale Aficionados posted at Associate Degree, saying, "If you’re wondering what people did before eBay, the short answer is yard sales. The practice of putting ones old or unused items up for sale to the public can be found in just about every neighborhood on any weekend of the year."
Stephen Kavita presents Personal Finance Tips That Ensure You Generate Wealth And Achieve Financial Freedom posted at Self Improvement Tips, saying, "Financial discipline and delayed gratification can be achieved through a system of rewards and punishments to yourself."
Mike Piper presents International Bond ETFs and Funds: Should You Own Them? posted at The Oblivious Investor, saying, "Does it make sense for U.S. investors to own international bond ETFs or funds?"
Jeff Weber presents Capital One Venture Card Review posted at Smart Balance Transfers, saying, "The Capital One Venture card is good for consumers who don't carry credit card debt from month to month, but not the best option for people who don't spend heavily and pay their bills in full every month."
CreditShout Kevin presents How To Develop a Customized Debt Payoff Plan posted at CreditShout.
BWL presents Amazon Subscribe & Save: Save Hundreds & Automate Your Shopping posted at Christian Personal Finance, saying, "A look at a little known subscription program that can help you save money on items you buy each month and simplify your life in the process..."
Robert Alan presents 5 Secrets a Credit Card Company Would Never Reveal posted at Credit Cards Blog | CreditCardAssist.com, saying, "Here are 5 secrets credit card companies know but wouldn’t likely reveal to it’s customers"
Tom Tessin presents 10 Identity Theft Facts to Know posted at FSC Blog, saying, "Identity theft effects a lot of us, and you need to learn on how to fight it, as well as know how many people become a victim."
Michael Pruser presents Ink Bold℠ with Ultimate Rewards℠ – $100 Bonus Cash Back posted at The Dough Roller, saying, "thanks for the inclusion"
Michael presents New Jersey Ranks Fourth for Innovative Companies posted at Consumerism Commentary, saying, "thanks for the consideration"
Odysseas presents Recovering Your Credit After the Great Recession posted at Wallet Blog, saying, "Hey, I think your readers will enjoy our submission this week because it shows people one main option for improving their bad credit. You are not alone if you are suffering from bad credit. Luckily, we have one solution that can help."
freefrombroke presents Ways To Increase and Improve Your Credit Score Without a Credit Card posted at Free From Broke, saying, "Fixing credit card habits isn't the only way to build up your credit score. There are also a couple of ways to build credit without a credit card."
Jane Chin presents Wealth Building 101 » Wealth Building is about Mastering Impulses posted at Wealth Building 101, saying, "Wealth building is one of those things where You get a lot of people telling you how you “should” do it, how they would do it, why you’re doing it wrong and you should do what they say, which of course, would be “right”."
Silicon Valley Blogger presents American Express Delta Credit Cards For Flight & Miles Rewards posted at The Digerati Life, saying, "Here's a review of a credit card for those who travel often!"
Judy Blackburn presents What Sets Christian Debt Relief Apart From Others posted at Debt Consolidation, saying, "Is there a difference between Christian debt relief and the run-of-the-mill debt relief service."
PT presents Which Debt Do You Pay Down First? posted at Prime Time Money.
Youdondour torres presents Quick same day advance loans posted at Quick and easy payday loan!.
Youdondour torres presents Advance cash loans posted at Pay Day Loans For You Today!.
Youdondour torres presents Bad credit payday loans, apply now! posted at Quick and easy payday loan!.
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