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Further
Reading ...
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Midlife Career Change Can Feel Like Getting a Divorce - Cathy Goodwin
Most of us are aware that we need to grieve the death of a close friend, relative or favorite pet. We are beginning to learn that other events -- relocation, divorce, illness -- can also be experienced as loss. Losing a professional-level career...
The Something-For-Nothing Syndrome - Angela Wu
You've had a long day. You're tired from working all day long and tired of having to watch every penny you spend. For the millionth time, you wonder what it would be like to work from home and make good money while you're at it. A lot of people...
The Art of Being Specific Encourages Focus - Lawrence Roth
Being specific has often been difficult for me. I like to dream big and incorporate everything all at once. That is why going from a hobby to a career with Rothline Entertainment ( http://www.rothline.com ) was more difficult than it needed to be....
How To Earn Residual Income The Lazy Way - Charles Kangethe
I've got a confession to make... what I am about to reveal is the way I started out my Internet Marketing career. It got me on the right track and it can work for you to. I still use this technique for earning "Residual Income The Lazy Way"...
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5 Steps To Healthy Spending Habits
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Written By:
Barbara Gibson
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Next to our physical health most of us are primarily concerned with our financial health, and with good reason. Although our intentions are usually great our follow-through and discipline generally isn’t. Mere mention of the word budget or cutback sends us into fits.
Healthy spending habits need not be synonymous with deprivation – a bad word in our “you deserve it/you’ve earned it culture.” Those interested in cultivating more healthy spending habits will be happy to know that rehabilitation is painless.
Step 1.
Start with a spending log. Yes, you have heard this advice before. This exercise is eye-opening if you do it diligently. If you have been unable to keep such a log because it is tedious or difficult to remember, consider using your debit card for every purchase. You can find the Visa/Mastercard logo nearly everywhere you shop or buy, including many fast food spots. With online banking you will have access to a visual record of all your spending. This is a great way to begin to spot patterns and decide where you can cut back.
Step 2.
Analyze your online account statement (four weeks is ideal) to help you determine where your money is going. Most credit unions offer to the minute transaction information. Review your log without judgment. What you have done, in terms of your spending, does not matter – at least not yet. What does matter is that you get a firm hold on your expenses. For example, how much money do you spend on coffee each week? Dry cleaning? Take out? Movies? You get the idea.
Step 3.
Next, write down all sources of income. With a list of your income and expenses in hand determine your priorities. Begin your budgeting process here. Obviously housing and other fixed costs will figure prominently on your priority list. Now, take a look at the conveniences - continued below ...
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that represent variable expenses. This is likely where you will find room to make changes. For example, if you subscribe to a video service can you get the two DVD plan instead of the three or eight DVD plan. If you buy coffee each day, can you bring it from home a time or two each week? Or would you be willing to purchase a smaller or otherwise less expensive cup? Can you clip coupons or eat out a little less?
Step 4.
Write a budget in pencil. Writing in pencil will help you remember that your budget is a fluid document. As you live with it you will probably need to make changes. That’s okay. You may even want to include a little mad money each month. It is far better to blow a budgeted $20.00 than it is to impulsively fritter away $200.00.
Step 5
Set a savings goal and make it something specific and important. A meaningful savings goal keeps feelings of deprivation away while providing the motivation you will need to stay on track. Be patient with yourself if you do get off track. If it helps, try writing your goals down and posting them or maybe even carrying a picture that represents your goal. Refer to these as often as you need. It may also be useful to try to determine what emotional need your spending fills for you and look for another way to get your needs met. Remember, developing a new habit takes practice. In time you may even learn to love your new healthy spending habits. It is liberating to be in control of your finances. So, go ahead, clip those coupons. Write your budget and honor your savings goal. That (insert your goal here) can be in your future if you decide to make it happen.
About the Author
Barbara Gibson publishes monthly for
http://CreditUnionRate.com
The Leading Credit Union Directory.
Search, Find, Join.
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7 Lean Marketing Laws For The Inspired Entrepreneur Who Wants More Success By Doing & Spending Less - Debbie Jenkins
The following laws will provide guidance on how to act, think and work in a lean way. You can apply these laws to all areas of your life, work and business to get bigger results from the time you invest. 1. Multiple Rewards Aim to be rewarded...
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Affiliate Program have exploded on the internet. Thousand of people join them every day. Amazon.com is probably the best example of such phenomenal success.If the affiliate program is so popular and so widely available and booming like...
Make Your Employees Adore You! - Sandi Carson
Follow this advice, and you will have employees that will adore you! Loyal and happy employees are eager to please your customers. And happy customers mean more sales! As an employer, there are some things that you need to make sure to do for your...
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