Having a realistic scope of your finances is a healthy way to take a step toward a debt free life. Many years a ago, Donald Trump (before he was as successful as he is today) made the comparison between himself and a debt free homeless man. He said if he were to give the homeless man one dollar that the homeless man is technically richer than he was at the moment. You may think that doesn’t make sense. Essentially a lot of us live a life that is in the negative when it comes to our finances. We buy our cars, homes, clothes, furniture, appliances and sometimes even our vacations on credit. And we are simply surviving by making minimum monthly payments laced with interest charges. Real money is the money that we actually have in our bank accounts that we earned. Imaginary money is our line of credit and our overdraft accounts. I have seen it time and time again in which the bank gives larger and larger overdraft limits and credit card companies increase card limits. When these increases occur, it does not mean that we now have more money. Remember that money is imaginary, again what we actually have is what is in our bank accounts (or in some old school cases, hidden in the mattress.) I am not saying that credit is a bad thing, however if we assess what we actually have, we can better access what we can afford to actually buy. We have often heard experienced financial analyst and economic geniuses like Suze Orman, tell us to live within our means. Today let’s take the time to determine what our means actually are rather than the imaginary money we believe them to be. Happy savings!!!
Save your change. Save your quarters, nickels, dimes, and pennies. I have seen my parents do this for years. Grab a really big container and start putting your change in there. It’s that simple. Make it a practice to drop your change into your container daily. You’ll begin to see it will add up pretty quickly.… Continue reading Save your change
I always try my best to be as hospitable as possible. “Would you like something to drink? I have tea, juice, coffee, and water.” Most times it never fails, in which they will ask for water. I am not sure if they are attempting to be polite and maybe somewhere in the back of their mind they believe water is the easier choice or the healthiest choice. So let me preface this by saying, I do not have a problem with giving my guest bottled water. I have a problem with giving them each a cold bottle of water for them to only take two sips from it. I have learned from my mistakes and will no longer allow myself to have partially consumed bottles of water left behind after my guests have departed. I usually take the leftover water and use it to water my plants in an effort to not be wasteful. I have come up with a simple solution. I now pour glasses of filtered water instead of offering bottled water to my guest. The trick is to use medium-sized glasses and a pretty water pitcher. A simple elegant setup that would be reminiscent of a social scene from your favorite soap-opera or television show. Why medium-sized glasses? Well it’s a three little bears scenario: the small glass is too small and the large glass is too big, but the medium size glass is just right. What if my guest is really thirsty? The simple solution for an empty glass is to fill it again. Having the water pitcher handy makes it inviting for your guest to pour themselves more water as well. Use a water pitcher, save water, save bottles, and save money!!!
You may be wondering how paying it forward can save you money. You likely think I am about to go the direction of others that tell you by making a charitable donation you will be able to save some money come tax time. Although that holds true, paying it forward results in great karma. In case you are wondering who or what karma is, think of it as what goes around comes around. Paying it forward can make the difference in your outlook, a difference in outlook can make a change in your finances. Think about the last time you did a good deed, you likely felt great about doing so and hence radiated a great energy. Follow me for moment, when you have a positive energy, it is amazing the amount of awesome deals and opportunities that will come your way. I am not saying to pay it forward and do a good deed solely to profit, but its an added bonus. Pay it forward and profit.
The latter part of January and the beginning of February are considered very stressful financially for many. Between the months of November and December we tend to make quite a few holiday purchases; whether it was buying gifts, paying for travel, or entertaining winter guests. Some of us have charged those expenses and are just now getting the credit card bills for them.
The current financial stress that tails us from last year can be remedied. I am declaring February as Fix the Funds February.
This month is a great opportunity to create an action plan to begin a financial recovery process. We will explore some practical ways to cut down spending. The money that is saved can be applied to credit card debit, other debts, or savings. Many other debt counselors would have advised you to put away your credit cards and to not use them for a while. However some of us did not accumulate credit card debt but instead spent tons a cash just the same. Part of any recovery is to first let the wounded area heal. You remember when you were a child and would get wounded, you kept picking at your scab? Your parents would tell you to stop picking the wound otherwise you were delaying the healing process. Each of the Fix the Funds February task will only last for one week. Yes, I could make each task a one month long challenge, but lets be honest lots of us have issues committing and this a great way to get started .
The first Fix the Funds February task is to not make any purchases. I am a huge fan of online shopping. I will admit that there are many nights I am shopping online while in bed from my smartphone. I have gotten really good of at putting lots of items in the cart or my wish-list and determining if any of them are an actually needed. I challenge you to not purchase anything that is not absolutely necessary this week. Continue reading “Fix the Funds February”
I know there are a lot of us that are brand junkies. I will admit there are some things that I do not compromise on. My cornflakes have to be Kellogg’s brand, but for the most part I try to be pretty flexible. Being brand loyal can become very costly. There are lots of manufacturers… Continue reading Money Saving Monday: Don’t be Brand Loyal
The cold and flu season is upon us. Some of us may leave work early because we are not feeling well or may leave early to pick up a sick child from school. Either way, on top of lots of rest and orange juice, chicken soup is a well known contributing remedy. I remember as… Continue reading Pressure Cooker Chicken Soup