 |
Further
Reading ...
|
|
The Name Squeeze – Should you? Shouldn’t you? - Joanne King
This is a little “beauty” of an idea if you want to grow a massive list QUICKLY! But some are wary of trying it. They worry it turns customers away. Well here is what I think of that, if the person was never prepared to give you their email address...
Achieving financial freedom with Network Marketing on The Internet - Part 18 - Tasos Vasilopoulos
Achieving financial freedom with Network Marketing on The Internet By Tasos Vasilopoulos Part 18 - Time to take action – The “Follow-up” method Introduction This article makes part of a series of 20 articles. The subject of this series is the...
Managing the Sales Negotiation Process - Michael Schatzki
How many times have you heard: "You've got to drop your price by 10% or we will have no choice but to go with your competition." "You will have to make an exception to your policy if you want our business." "I know that you have...
Are You Burned-Out? - Deborah R Brown MBA MSW
"In order to burn out, a person needs to have been on fire at one time." Ayala Pines What is burnout? And how do you know if you're suffering from it? Burnout is various physical, emotional and mental reactions caused by repeated stress. Effects...
|
|
|
HOW TO MAXIMIZE YOUR "HARD-EARNED" MONEY
|
 |
Written By:
Craig Lock
|
|
|
"Whatever you have, spend less"
- Samuel Johnson.
Every day we make decisions about money, which have an effect on
our standard of living. Sometimes they are only small ones,
not related to the above-mentioned areas of life.
Daily you have to make financial decisions on which items to spend your
money. You are in effect the managing director of your family's business.
Spend more than you get in, your company (business) will soon go broke.
Consequently, you have to ensure that you live within your means and
balance the household books (weekly or monthly depending on pay-day)...
otherwise you will get into financial difficulties.
The more money you are able to save each week or month,
the higher will be your ultimate standard of living;
although being a miser will not bring happiness. You have to
strike a balance in your life between saving and enjoyment (= spending).
After all, who wants to get to a comfortable retirement after a lifetime of
frugality and no memories? We all know that "penny-pinchers" and
"Scrooges" are often the most unhappy people in the world and that it's
always better to give than to receive. Is it really, or only for saints?
Your household finances are run just like a business.
At the end of each month, how much of what you earn stays in your
own pocket? You will probably find, like most people,
that you are paying everyone else but yourself:
the butcher, baker, candlestick maker and other accounts,
like paying off the car repairs and windows broken by the kids
(happened last week - "Oh bother!").
Unfortunately we can't do without money. Also, the older we get,
the more we normally need.
You get used to a certain standard of living and comfort,
but as you get older you need far more capital than you thought.
We will look at those various life stages we go through,
together with our major financial responsibilities.
The main areas that affect us over our lives include:
# buying a home
# choosing a mortgage bond
# medical cover
# children's education
# budgeting
# planning for lifestyle goals (e.g.. a new home, car, holiday, business)
# replacement of consumer items, like car, furniture, washing machine
# retirement planning
# investment - continued below ...
|
|
|
continued ...
planning
# estate planning for very wealthy people (I don't know if the UK and the
USA have estate duty. NZ has done away with it)
# professional services (such as: legal, financial)
Of these, retirement planning is probably the most important priority;
because we have to spend a significant portion of our life when we don't
have any income coming in.
THE TEN MOST COMMON MISTAKES PEOPLE MAKE IN MANAGING
THEIR MONEY:
I believe this is the reason why so many people have a needless struggle
with their finances.
1.poor debt management through excessive borrowing - not being able
to live "within your means".
2. failure to monitor their financial position.
3. lack of motivation (desire) to take action.
4. lack of foresight in looking ahead.
N.B:
5. failure to set financial plans for the future. Most people don't
plan to fail, but fail to plan.
6. lack of knowledge. Financial ignorance can prove expensive.
7. inadequate protection against unforeseen events (life and general insurance),
such as death, disability and physical losses.
8. procrastination in taking remedial action. And most importantly,
9. lack of discipline in saving habits.
and
10. poor investments: you either pay too much tax on them or inflation eats
into your return, or both...so that you money actually goes backwards.
Even worse, you could lose all your money if the company to whom
you gave your money goes 'broke'.
KNOWLEDGE:
>From the above we can see that some basic financial knowledge is vital for
all people to survive in the financial 'jungle' that is today's world.
Gaining financial knowledge takes time, effort and discipline.
You are the manager of your finances, so make a PLAN to reach your financial GOALS.
Then implement it.
ACTION is the key word.
Good luck
Craig Lock
About the Author
Craig Lock
For valuable money information to help you make and save your hard-earned money,
get out of debt, learn how to invest, retire early, and take control of your finances see:
http://www.nzenterprise.com/money/
http://www.novelty-gift.com/
and Craig's money books at
|
|
|
|
 |
|
|
| _Additional Resources ... |
|
Developing Realistic Financial Assumptions - Dave Lavinsky
Many investors skip straight to the financial section of the business plan. It is critical that the assumptions and projections in this section be realistic. Plans that show penetration, operating margin and revenues per employee figures that are...
Identity Theft - 10 Simple Ways to Protect Your Good Name! - Titus Hoskins
Identity Theft is one of the most serious problems facing Internet users. Identity Theft is exactly as the name states - someone steals your Identity and commits fraud in your name. It can result in untold financial and legal problems that may...
Mortgage After Bankruptcy - BkHome
Most people probably assume that obtaining a mortgage to purchase a home, refinance or to consolidate debt after a bankruptcy is out of the question. In fact, many people are able to obtain these mortgage services, even 1 day after a bankruptcy...
|
|
|
|
|
|
|
|
|
|
