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Added for You - How to Manage Your Money & Avoid Living Paycheck to Paycheck
High-volume businesses can offset these costs in revenue, but for small or client-based businesses, a print advertisement can mean the difference between profit and loss--and not to your business's advantage.Radio or TV advertising is also a popular option for many businesses: for a few hundred dollars, you can buy advertising space in popular programs or between music playlists. Radio and TV advertising has the potential to reach an even wider audience than print advertising, and the increased technological possibilities--music, a good announcer, even short skits or memorable jingles--can both give potential customers a good sense of your business and make your business memorable and appealing.But
Know the “Special Savings” figure you actually NEED to save each month.
This list will include the cost of the following:
Income Tax
Car maintenance such as new tires, oil changes, brakes, etc.
Vacation(s)
Christmas Expenses, gifts, etc.
Car Registration
If you own a home:
Homeowners insurance
Property Tax
Home repairs or maintenance costs (water heater, roof leak, etc)
4 – SAVE, SAVE & SAVE MORE
Whatever method of savings works best for you, DO IT. Even if it a jar on the dresser you fill with money, a savings account, whatever. Take 10% of your earnings and pay yourself first, meaning save. This money will not only build a cushion for emergencies but will help you sleep better knowing you have a little stashed away should something come up unexpectedly.
It will also create the habit of saving and budgeting will lead to smarter spending, which in the years to come will develop into a solid future.
Even if you finish you spending and savings b
Reaching success in any endeavor requires many things. It doesn't matter if you're out to complete a project or you're working on accomplishing a big dream.One of the best things that you can do for yourself is to build a team to help you.If you're an employer, your staff is your team. When you're an entrepreneur, your accountant, your suppliers; they're all part of your team. If you're in a group environment and have been handed a project, look around and see who's on your team.As a entrepreneur, especially just starting out, you need a team. But how do you build one when you're on your own?First, look for champions. These are the people who have been where you are
Alarming Statistics
Over half of all Americans live paycheck to paycheck.
40% of Americans live beyond their means.
One-half of American households have accumulated less than $1,000 in “net financial assets”, the value of money in the bank, stocks, bonds and other securities after subtracting loans, credit card debts, and other secured debt
A majority of Americans in households with incomes of $35,000 or less believed that they are more likely to accumulate a $500,000 nest egg by winning a lottery or sweepstakes (40%) than by patiently saving and investing of relatively modest sums (30%).
- Project C.A.S.H.
How do you learn to handle your finances?
You spend such a great deal of time working to make money but most spend so little working on how to make that money work for you. Everyone should manage their money. The first step is Money 101: Create a Budget!
START MANAGING YOUR MONEY BY CREATING A BUDGET
1 – KNOW YOUR TRUE INCOME
Start with the basics. Identify how much money you make.
Begin by figuring out your net paycheck and multiplying the number of checks you receive per year then divide by 12 (months in a year) or taking your annual net income and dividing it by 12 (months in a year).
For example:
If you are paid weekly $1200 then your monthly income is
$1200 x 52 (weeks in a year) = $62,400 / 12 months = $5200 per month
2 – MAKE A VERY, VERY DETAIL BUDGET
What are your actual expenses? Take a look at how you are currently spending your money. By looking at your current spending habits you can identify areas where you need to modify spending. Some “necessities” are often luxuries we like to think of as necessities (morning coffee, dining out, new shoes for every new outfit, etc).
It is smart to evaluate your current spending and set goals that take into account your financial goals. Once you’ve set your budget, STICK TO IT and track your spending to make sure it stays within the guidelines you’ve established.
It is important to detail every standard monthly expenditure you have. Be realistic on how much you actually spend. Look at how much you spent last month these items and you may be surprised.
Here is a sample list of expenses:
EXPENSE #1
Savings - 10% of income (remember PAY YOURSELF FIRST!)
Household Expenses
Mortgage or Rent
Home Owners Association
Food
Groceries
Dining Out
Coffee/Tea
Lunches (kids)
Electric
Gas
Cable
Trash
Water/Sewer
DSL or Highspeed Internet
Telephone
Home Office Supplies
Personal Expenses
Car Payment
Car Insurance
Gas
Health Insurance
Medications
Cell Phone
Club or Membership Fees/Dues
Clothes
Shoes & Accessories
Toiletries
Subscriptions
Entertainment (movies, theater, amusement parks, etc.)
Debit Payments
Credit Card Payments
Loan Payments
Student Loans
Second/Third Mortgage Payment
Boat, Motorhome, Time Share Payment(s)
Medical Bills
If you have children
Tuition/Day care
Clothes
Sports, classes or club fees
School expenses (formals, pictures, uniforms, etc.)
Babysitting
Miscellaneous Expenses
Special Savings (see #3 for more explanation) Include any items omitted from the above list that you spend money on
***NOTE: Now that you know how much you spend each month SPEND SMARTER. Make changes to your budget and change your spending habits to be able to save monthly.***
3 – THINGS YOU NEED TO PLAN FOR BUT USUALLY OVERLOOK
There are items in your budget that come up irregularly but will inevitably come up. Things like new tires, vacations, Christmas, etc. If you have not created a separate savings budget to plan for these items you will soon find yourself overbudget and in a jam.
Know the “Special Savings” figure you actually NEED to save each month.
This list will include the cost of the following:
Income Tax
Car maintenance such as new tires, oil changes, brakes, etc.
Vacation(s)
Christmas Expenses, gifts, etc.
Car Registration
If you own a home:
Homeowners insurance
Property Tax
Home repairs or maintenance costs (water heater, roof leak, etc)
4 – SAVE, SAVE & SAVE MORE
Whatever method of savings works best for you, DO IT. Even if it a jar on the dresser you fill with money, a savings account, whatever. Take 10% of your earnings and pay yourself first, meaning save. This money will not only build a cushion for emergencies but will help you sleep better knowing you have a little stashed away should something come up unexpectedly.
It will also create the habit of saving and budgeting will lead to smarter spending, which in the years to come will develop into a solid future.
Even if you finish you spending and savings b
Do you stand immobile at a fork in your career road? Do you feel ambiguous about your job, relationship or purpose? Here are some helpful tips to find the right path to solid psychological ground.1. Commit to Yourself First. Commitment to yourself means that you work hardest for your dreams and goals, not everyone else’s. Do you feel powerless? You are powerful. The power to change is already in you. Your accomplishments reflect your commitment because even with some bad luck along the way, committed people can become president or famous or happy. You can rarely attain big goals without commitment as a top value. Commitment means that if you decide to lose five pounds or fifty, you do not take a few walks
START MANAGING YOUR MONEY BY CREATING A BUDGET
1 – KNOW YOUR TRUE INCOME
Start with the basics. Identify how much money you make.
Begin by figuring out your net paycheck and multiplying the number of checks you receive per year then divide by 12 (months in a year) or taking your annual net income and dividing it by 12 (months in a year).
For example:
If you are paid weekly $1200 then your monthly income is
$1200 x 52 (weeks in a year) = $62,400 / 12 months = $5200 per month
2 – MAKE A VERY, VERY DETAIL BUDGET
What are your actual expenses? Take a look at how you are currently spending your money. By looking at your current spending habits you can identify areas where you need to modify spending. Some “necessities” are often luxuries we like to think of as necessities (morning coffee, dining out, new shoes for every new outfit, etc).
It is smart to evaluate your current spending and set goals that take into account your financial goals. Once you’ve set your budget, STICK TO IT and track your spending to make sure it stays within the guidelines you’ve established.
It is important to detail every standard monthly expenditure you have. Be realistic on how much you actually spend. Look at how much you spent last month these items and you may be surprised.
Here is a sample list of expenses:
EXPENSE #1
Savings - 10% of income (remember PAY YOURSELF FIRST!)
Household Expenses
Mortgage or Rent
Home Owners Association
Food
Groceries
Dining Out
Coffee/Tea
Lunches (kids)
Electric
Gas
Cable
Trash
Water/Sewer
DSL or Highspeed Internet
Telephone
Home Office Supplies
Personal Expenses
Car Payment
Car Insurance
Gas
Health Insurance
Medications
Cell Phone
Club or Membership Fees/Dues
Clothes
Shoes & Accessories
Toiletries
Subscriptions
Entertainment (movies, theater, amusement parks, etc.)
Debit Payments
Credit Card Payments
Loan Payments
Student Loans
Second/Third Mortgage Payment
Boat, Motorhome, Time Share Payment(s)
Medical Bills
If you have children
Tuition/Day care
Clothes
Sports, classes or club fees
School expenses (formals, pictures, uniforms, etc.)
Babysitting
Miscellaneous Expenses
Special Savings (see #3 for more explanation) Include any items omitted from the above list that you spend money on
***NOTE: Now that you know how much you spend each month SPEND SMARTER. Make changes to your budget and change your spending habits to be able to save monthly.***
3 – THINGS YOU NEED TO PLAN FOR BUT USUALLY OVERLOOK
There are items in your budget that come up irregularly but will inevitably come up. Things like new tires, vacations, Christmas, etc. If you have not created a separate savings budget to plan for these items you will soon find yourself overbudget and in a jam.
Know the “Special Savings” figure you actually NEED to save each month.
This list will include the cost of the following:
Income Tax
Car maintenance such as new tires, oil changes, brakes, etc.
Vacation(s)
Christmas Expenses, gifts, etc.
Car Registration
If you own a home:
Homeowners insurance
Property Tax
Home repairs or maintenance costs (water heater, roof leak, etc)
4 – SAVE, SAVE & SAVE MORE
Whatever method of savings works best for you, DO IT. Even if it a jar on the dresser you fill with money, a savings account, whatever. Take 10% of your earnings and pay yourself first, meaning save. This money will not only build a cushion for emergencies but will help you sleep better knowing you have a little stashed away should something come up unexpectedly.
It will also create the habit of saving and budgeting will lead to smarter spending, which in the years to come will develop into a solid future.
Even if you finish you spending and savings b
Have you ever wondered what it takes to start an online business?Ever thought about why some are successful and you are making pennies?I sure did when i started my online career. Why was it some made millions and others made pennies.What the first boost for my business was, was when I figured what tools I needed to get started and to improve my personal business.Lets look at the basics needs to start on online business you’ll need the following:• A website • Hosting • Tools to capture your visitors • Tools to make your website • Tools to make your capture page • An idea/concept your business is based on • A domain nameThat’s some of the ve
It is important to detail every standard monthly expenditure you have. Be realistic on how much you actually spend. Look at how much you spent last month these items and you may be surprised.
Here is a sample list of expenses:
EXPENSE #1
Savings - 10% of income (remember PAY YOURSELF FIRST!)
Household Expenses
Mortgage or Rent
Home Owners Association
Food
Groceries
Dining Out
Coffee/Tea
Lunches (kids)
Electric
Gas
Cable
Trash
Water/Sewer
DSL or Highspeed Internet
Telephone
Home Office Supplies
Personal Expenses
Car Payment
Car Insurance
Gas
Health Insurance
Medications
Cell Phone
Club or Membership Fees/Dues
Clothes
Shoes & Accessories
Toiletries
Subscriptions
Entertainment (movies, theater, amusement parks, etc.)
Debit Payments
Credit Card Payments
Loan Payments
Student Loans
Second/Third Mortgage Payment
Boat, Motorhome, Time Share Payment(s)
Medical Bills
If you have children
Tuition/Day care
Clothes
Sports, classes or club fees
School expenses (formals, pictures, uniforms, etc.)
Babysitting
Miscellaneous Expenses
Special Savings (see #3 for more explanation) Include any items omitted from the above list that you spend money on
***NOTE: Now that you know how much you spend each month SPEND SMARTER. Make changes to your budget and change your spending habits to be able to save monthly.***
3 – THINGS YOU NEED TO PLAN FOR BUT USUALLY OVERLOOK
There are items in your budget that come up irregularly but will inevitably come up. Things like new tires, vacations, Christmas, etc. If you have not created a separate savings budget to plan for these items you will soon find yourself overbudget and in a jam.
Know the “Special Savings” figure you actually NEED to save each month.
This list will include the cost of the following:
Income Tax
Car maintenance such as new tires, oil changes, brakes, etc.
Vacation(s)
Christmas Expenses, gifts, etc.
Car Registration
If you own a home:
Homeowners insurance
Property Tax
Home repairs or maintenance costs (water heater, roof leak, etc)
4 – SAVE, SAVE & SAVE MORE
Whatever method of savings works best for you, DO IT. Even if it a jar on the dresser you fill with money, a savings account, whatever. Take 10% of your earnings and pay yourself first, meaning save. This money will not only build a cushion for emergencies but will help you sleep better knowing you have a little stashed away should something come up unexpectedly.
It will also create the habit of saving and budgeting will lead to smarter spending, which in the years to come will develop into a solid future.
Even if you finish you spending and savings b
Some Financial Analysts argue that using cash flow will provide a more accurate picture in determining the fair value of a common stock. What gives? They reason that investors should follow where the cash is. Cash flow will track the flow of cash in and out and this is the reason business exists; to get cash.Things are not that simple, however. Just as net income, cash flow can be easily manipulated. Cash flow here refers to cash flow from operations found on the statement of cash flow published regularly by publicly traded companies.Let's take a look at the statement of cash flow for one publicly traded company, Amazon.com (AMZN) and decipher its components. We will use the statement of cash flow fo
Debit Payments
Credit Card Payments
Loan Payments
Student Loans
Second/Third Mortgage Payment
Boat, Motorhome, Time Share Payment(s)
Medical Bills
If you have children
Tuition/Day care
Clothes
Sports, classes or club fees
School expenses (formals, pictures, uniforms, etc.)
Babysitting
Miscellaneous Expenses
Special Savings (see #3 for more explanation) Include any items omitted from the above list that you spend money on
***NOTE: Now that you know how much you spend each month SPEND SMARTER. Make changes to your budget and change your spending habits to be able to save monthly.***
3 – THINGS YOU NEED TO PLAN FOR BUT USUALLY OVERLOOK
There are items in your budget that come up irregularly but will inevitably come up. Things like new tires, vacations, Christmas, etc. If you have not created a separate savings budget to plan for these items you will soon find yourself overbudget and in a jam.
Know the “Special Savings” figure you actually NEED to save each month.
This list will include the cost of the following:
Income Tax
Car maintenance such as new tires, oil changes, brakes, etc.
Vacation(s)
Christmas Expenses, gifts, etc.
Car Registration
If you own a home:
Homeowners insurance
Property Tax
Home repairs or maintenance costs (water heater, roof leak, etc)
4 – SAVE, SAVE & SAVE MORE
Whatever method of savings works best for you, DO IT. Even if it a jar on the dresser you fill with money, a savings account, whatever. Take 10% of your earnings and pay yourself first, meaning save. This money will not only build a cushion for emergencies but will help you sleep better knowing you have a little stashed away should something come up unexpectedly.
It will also create the habit of saving and budgeting will lead to smarter spending, which in the years to come will develop into a solid future.
Even if you finish you spending and savings b
In a term of global forex trading, everyone could benefits a huge of profits from this highly lucrative investment opportunity. But without any exception, everyone could be terribly loosing also. Trading forex is alike as a journey to find a hidden treasure. One thing thats important to be carefully considered by forex traders, especially the new one is to choose which trading strategy is the most suitable for them to be applied in their trading system. We can presuppose trading strategy as a map to find the treasure. For they who are new to forex trading, without a direction, they will mostly end up with nothing in their hands but lost and regrets.Traders may define their trading strategy in many ways. Th
Know the “Special Savings” figure you actually NEED to save each month.
This list will include the cost of the following:
Income Tax
Car maintenance such as new tires, oil changes, brakes, etc.
Vacation(s)
Christmas Expenses, gifts, etc.
Car Registration
If you own a home:
Homeowners insurance
Property Tax
Home repairs or maintenance costs (water heater, roof leak, etc)
4 – SAVE, SAVE & SAVE MORE
Whatever method of savings works best for you, DO IT. Even if it a jar on the dresser you fill with money, a savings account, whatever. Take 10% of your earnings and pay yourself first, meaning save. This money will not only build a cushion for emergencies but will help you sleep better knowing you have a little stashed away should something come up unexpectedly.
It will also create the habit of saving and budgeting will lead to smarter spending, which in the years to come will develop into a solid future.
Even if you finish you spending and savings budget and it is more than you make it is a starting point. 40% of Americans live on 110% of their annual income! Don’t be one of them. Cut back expenses or find more income. It is better to have to tackle your finances than to not even know you have a problem.
More sophisticated money management, such as investments, can be tackled later. Start with getting the basics in and working!
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