It is important that you look over your budget on a frequent basis. It should really be done every time you have a chance. This is because a hard copy of your budget is very helpful in determining if you are sticking to it or not. You need to put a copy of your budget in places that you spend a lot of your time. You may even want to try hanging one on a wall in your room or putting a copy on the front of your refrigerator. One place that you will surely see it every day is if you tape it to your bathroom mirror. While you are getting ready to start your day you will see this budget and it will keep it fresh in your mind.
It may be easy for us to forget some things in our life, especially those things that we don’t really want to remember, such as budgets. Constantly reviewing you budget will make it much more difficult for you to forget about it, intentional or not. It will be easier for you to avoid impulse spending as well because you will think of your budget while you look at the price tag of a certain object. You will understand that in order to get that object you will have to get rid of other expenses so that you do not go above your budget. The choice of whether it is worth it or not is up to you. Another reason that you need to look over your budget as much as possible is to make sure that it does not need to be revised or have changes made to it. As mentioned earlier in this book, you will likely start with a simple budget and move up to a more difficult one. If you do not look over your budget and realize that you are ready to move on to a more difficult one you will be stuck in the same rut forever. As well, you may get a new job which offers more or less income so changes to your budget will be necessary.
One thing that you may want to try is to draw a little picture or write out a statement on your budget that describes the reason you are doing it. This Will surely keep the benefits of your struggles at the front of your mind and make continuing on with your budget much easier. Remember, much of this process is determination and hard work, without the two you will get nowhere!
It seems like in today’s society you have to spend money on unnecessary things in order to be able to fit in. For example, everywhere you look you will be sure to see a teenager with an iPhone or some other smart phone. The kids that do not have one are considered to be outsiders and are not accepted by their peers. Although it may seem like a necessary expense to go get an iPhone, it really isn’t.
Now that you have made your list of your monthly expenses and your monthly income it is time to start comparing the two lists with one another. If you ever plan on getting ahead in life you must make sure that you are pulling in more money than you are spending, it’s only common sense. This doesn’t mean that you make two dollars more a month than your expenses total up to. It means that you should have substantial breathing room because unexpected things happen in life and you may make less money during one month than others. If you are spending more money each month than you take in you are in a bad spot and your surely know it and can feel the consequences. It can feel like you are stuck in a black hole with no way out. The power of the hole continues to suck you deeper and deeper in until you can no longer see light and can no longer manage your debts.
If you want to adhere to a budget and create a financial success for your life you will likely have to give up certain activities and go without certain things in life for a while. Ask almost anyone who has achieved financial success and was not just born into a rich family, they will surely tell you that they had to make many sacrifices. You have to determine what is essential in your life and what are just mere desires. Knowing the difference between the two is extremely important as it will help you to make difficult decisions about your finances in the future. No matter how big the temptation or urge may be it is important not to spend compulsively and to adhere to your budget. After all, it was designed and created by you for you. The following are some examples of the things you may not want to go without but need to for financial reasons for a while:
You need to ask yourself if this is really a necessity in your life. How much is your bill and how much do you really watch it?
You may need to limit going out for a while or at least restrict where you go or the amount of money you take with you. It is advised that you stay away from high priced places while trying to stick to a budget because these places are a set up for failure. Going to clubs and high priced restaurants will get you nothing but an empty wallet and over-priced food that is often times over rated. Stick to places that are a bit cheaper. Try going bowling or going out to a pool hall to play a couple games. No matter what your interest are you should be able to find something cheaper to do that will entertain you and keep you inside of the lines of your budget.
Eat At Home More:
Many people do not realize how expensive it can be to eat out constantly. A few bucks a meal may not seem expensive at the time of your purchase but it definitely adds up quite quickly. You can prepare the same meals you get at restaurants in your own kitchen. Even if you are not great at cooking you can learn. The same meal you can get from a restaurant can be prepared at home for a fraction of the price. This is beneficial for your health as well as your budget. One thing to keep in mind as well is that your health is extremely important for achieving any type of success, including financial success so eat healthy!
Cancel Unnecessary Subscriptions:
A lot of people sign up for a magazine subscription or newspaper subscription with every intention of looking at them and reading them everyday. For some people this ends up being the case but for a lot of people it ends up being the exact opposite. The magazines just sit around and collect dust or some people may still have newspapers from last year around their house. When you think about it, wasting money on something that does nothing more than sit around and collect dust seems kind of foolish. The money being spent on those subscriptions could go to other valuable things. Even if you do read the magazine, do you really need it? Magazines and newspapers are just a couple examples of the countless subscriptions that a person can have.
Cancel Unnecessary Memberships:
Just as with subscriptions, you need to determine if certain memberships you pay for are necessary and healthy for your budget. For example, if you pay for a membership to a grocery store like Sam’s Club or Costco but have not been there in quite a while, it is probably a good idea to cancel those memberships. Another example may be if you are in some other type of club like a car club. You may have to make the sacrifice of leaving the club and suspending your membership until you can better afford the membership fees.
These are just a few examples of the things that you may have to slow down on or cut out completely to be able to stick to your budget and achieve financial success. Nobody said that every step of the process of creating a budget would be easy. I can guarantee you one thing though, it will be beneficial for your life in the long run. It is important to find a way to still leave yourself some joys in life while sticking to a budget. It is as the saying goes, “all work and no play makes Jack a dull boy”. This is entirely true and working without rewards can eventually completely destroy a person’s motivation to do something. This will likely lead to you abandoning your budget entirely. That would mean that all of the hard work and effort you put into getting this far with your budget would have been for absolutely nothing. So keep that in mind and always remember that you still need to enjoy life!
So now you should be well equipped to start and get rid of unnecessary expenses.
Now that you have determined what your exact monthly income is, it is time for you to begin figuring out what your monthly expenses are and to sort them into different categories. Sorting your expenses into different categories will help you with determining which expenses can be cut, we will go deeper in detail with this step in the chapter following this one. No matter how difficult the process may be or how frustrated you get while doing it, it is important that you do this step. You must make sure that you are not spending more money on a monthly basis than you are bringing in. While making your list of expenses you will likely be shocked by the final number that you come up with. It is most likely much higher than it needs to be.
The following steps will serve as your guide through this process and make
things much easier on you:
Figure Out What You Owe Each Month in Debt:
You need to determine what you spend each month on debts. This can include items such as car loans, title loans, credit cards, student loans, personal loans, and any other form of debt that you may have. This is extremely important to do if you want to get yourself out of a hole and better your financial situation. It is important to list down each item as well as total them all together.
Remember To Include Monthly Insurance Payments:
It is important to make sure that your things are protected in life but at the same time it also important to make sure that you have the money to pay for this protection. When you create your list of expenses you need to make sure to include all of your monthly insurance expenses. If you pay for your insurance quarterly or annually you need to divide the amount of your payment by the appropriate number so you can determine its monthly cost. Common forms of insurance people have is car insurance and home owners insurance.
Calculate Your Monthly Utility Bills:
Utility bills must also be accounted for in your list of expenses. You cannot really figure out an exact number while doing this because your utility bills will be slightly different from month to month, especially during season changes. You need to figure out how much all of your utility bills were for the past three months and then calculate the average bill amount for those three months. Examples of utility bills are electricity, gas, and phone bills. Figure Out What You Spend Each Month on Groceries:
We all need to eat so we all have grocery bills. As well, we all know how expensive groceries can be. Even generic brand items seem like they are getting more and more expensive every day. It is extremely important while listing your expenses that you remember to include your average monthly expenses on groceries. Just like with utilities, your monthly grocery expenses will likely differ so you cannot get an exact number but you can get an average. You may find that you need to switch to cheaper brands or lay off of some items for a while.
Remember Special Occasions:
While listing down all of your expenses it is important that you remember to factor in special occasions. Events such as birthdays or certain holidays can end up being quite expensive. When you make purchases for these occasions it is important that you keep the receipts so that it is easier for you to include these expenses in your list.
Study Your Previous Cash Withdrawals:
You need to make sure that you include all of your cash withdrawals that went to various different things. You need to look at your bank statement and figure out the amount of your withdrawals and then list them down along with the reason the money was spent.
Once you have made this list it is time to move on to the next step in your journey. Continue reading to learn more valuable information.
If you want to create a functional budget that is beneficial for you the first thing that you have to do is figure out know much money you make on a monthly basis. It is advised that you do this with a calculator or a number machine because there will be many numbers involved and you want the calculations to be exact. As well, using a calculator or number machine will make this process much less stressful which is good for anyone. This is especially true with a number machine because it prints out the calculations as they are made which can allow a person to make notes or easily review the information.
You need to factor in all forms of income, no matter how small they may be. A lot of people make the mistake of short changing their selves while doing this step because they may think that certain forms of income are too small to count. All forms of income must be counted; cutting yourself short can completely mess up your budget. All the small things add up so make sure to count them!
The following steps will help you to figure out what your exactly monthly income is:
Calculate The Amount In Your Liquid Accounts:
A liquid account is a general term and can include many different types of accounts. It basically refers to any type of account that you can draw money from on a moments notice. The account may include your savings account, your checking account, as well as your investment account. While checking how much is in each one of these accounts it is important for you to remember that some of these accounts build interest and that some may have expenses attached to them. This must also be factored in to your numbers as it will make a big difference while making your budget, even if it does not seem like it now.
Figure Out Your Exact Monthly Income:
The next thing you need to do is figure out what your exact monthly income is. As mentioned before, this can be more difficult for some compared to others for many different reasons. Maybe they have more than one form of income or maybe they get confused by math, either way it can be quite complicated for them. Keep in mind, this is not usually an easy process for any person but it can and must be done.
For those who work on hourly wages you will begin by figuring out what your hourly pay is and then multiplying it by the number of hours you work each week. For those who have varied schedules it is advised that you use the hours from the lowest week instead of the highest because it will prevent you from falling short in the future. Once you have done this you multiply that number by four because there are four weeks in a month. The number you calculate will be your total monthly income, that wasn’t that hard right?
For those who work on salary wages you will need to figure out how much you make on a monthly basis instead of yearly. This is because it is much easier to stick to and create a monthly budget rather than an annual one. All you will have to do is take your total yearly income and divide it by twelve. The figure you come up with will be your total monthly income. For those who work odd jobs or do not have regular work this process can be a little more difficult. What you need to do if you are one of these people is come up with an average amount of income for the past six months to a year. It is advised that you use a month that had hard times so that you allow yourself breathing room while you create your budget. It is important to remember to factor in all other forms of extra income as well. Any amount needs to be factored in, no matter how small it may be. This is because you need to be very precise while figuring out how much money you pull in on a monthly basis. Everything from alimony to child support needs to be considered. Even something as small as cash back on credit card purchases needs to be accounted for in your list of earnings.
Before you will be able to reach financial success you will have to
understand a few things. We will begin with the basics of creating a budget. The basics are what will serve as your foundation. It is important that you have a very strong understanding of these basics to ensure that you have a
The following information will shed light on the basics for you. Keep in
mind that some information will be explained in greater detail later on in this book.
Determine What Your Current Financial Situation is:
If you want to create a budget that works for you it is important that you take the time to determine what your current financial situation is. You must be honest with yourself during this process, no matter how difficult it may be. You cannot make your situation seem better than it is, if it is bad you must accept it. Realizing how bad your financial situation is may be the motivator that you need to create a budget. People often do no change their behaviors until there is a reason to do so. Determining your current financial situation may be the reason that helps you change your ways.
Determine What Your Financial Future Looks Like:
While trying to create a budget it is important to consider what your financial future will look like if you do not create a budget for yourself. You really need to try hard to visualize what your life will be like if you do not get your finances in order. Think of what your family may go through and the hard times that they will all have to face. What if sometime in the future you cannot even put food on the table? What if that time in the future is sooner than you think?
These visualizations and thoughts will likely be a motivator to help you change and create a budget. It may be scary to think about it but it can become a reality so it is important to acknowledge the fact that it can become real and change your future.
Figure Out How Much Money You Want:
It is important for you to set financial goals for yourself because they will help you stick to your budget. Do not try to set an exact figure of money as your goal. Instead you want to try to come up with a general number. This number will serve as your gauge to let you know if you are pulling in enough finances. Picking an exact number is a sure way to drive someone crazy and set them up for failure. Having a general number is much more beneficial because it can let someone know when they pull in more than they were expecting while at the same time lets them know if they fall behind and pull in less than what was expected.
When trying to create a budget for yourself it is important that you always remain reasonable and that you are realistic with yourself. Do not make an outrageous budget that you cannot follow. This is a sure way to set yourself up for failure and feel like you are not capable of following any budget. Keep in mind, you may have to create different budgets as the time goes by. You will want to start with a less complicated budget that will be easier for you to follow. Once you have been able to follow this budget without setbacks it is time to move on to more complicated and strict budgets. Before you know it you will be budgeting at ease and all of life’s benefits will be flooding into your life.
Many people are looking for employment in our current economy. They either want to get a job that pays better, has more potential for advancement or is full-time rather than part-time. There are a few basic tips that can help you find employment, and you will find the most important ones listed in this article.
Keep an open mind when trying to find a new job. Not only apply for the specific position you are looking for, but jobs that are related to that position as well. You might not end up landing the exact position you were looking for, but it will give you an opportunity to get into a company where you can transfer positions down the road.
Always ask for permission before providing someone’s name and contact information for a personal or professional reference. If your contact is caught by surprise by your would-be employer, he may not have time to give a positive, well-thought-out answer. You also run the risk of discovering that this person did not share enthusiasm for your performance, skills and abilities.
You need to make sure that you use the job alert feature on sites when you register. This is one of the perks. It makes seeing new job selections easy as just checking your email on a daily basis. You still want to search for new avenues and keep your focus, but these are great helpful tools.
Try tailoring the objective on your resume to the position you’re applying for. If your resume includes an objective, it should match whatever position you are applying for at that job. When you have more specific details in your objective, you better your chances of being chosen for that position.
Never talk negatively about others when you are at work. You will only give yourself a bad name and cause others to wonder what it is that you are doing wrong. Instead, focus on the positive so that you are seen as a desirable member of the team. Your wallet will thank you for it.
If you have managerial or supervisory experience, you may be tempted to include testimonials solely from higher-ups. This is excellent information, but you can take it further by including feedback from your subordinates. Hiring managers look for candidates who can connect and build rapport with employees at all levels of an organization.
Don’t just send your resume. This is something a lot of job hunters make the mistake of doing. You need to do more than send a resume if you really want the job. Unless the listing specifically says not to, call them. Get a little information about the position so you can better tailor your resume and cover letter to their needs.
Now that you are aware of the basic recommendations for finding employment, you can confidently present yourself to prospective employers as a desirable employee. It is very important to present yourself in the best light possible. Use the tips provided in this article as your guide when you apply and interview for gainful employment.
Having good credit starts and ends with you. You have to make sure that your credit report is accurate, and that you are doing everything you can to pay your obligations on time and not take out more credit than you need. This article will show you how to get the credit rating you want.
To help you improve your credit score you should settle any bad debts. Bad debts are one of the main reasons why your credit score is low. So if you have many bad debts you need to contact your creditors immediately and see if they will let you settle the account.
An important tip to consider when working to repair your credit is to know what goes into calculating your credit score. This is important to know because it is composed of a complicated series of calculations that judge your score based on a large amount of variables. What is most important to know is that will take a long time to build your score up, however it can quickly drop if you do not pay your bills or default on a loan.
Remove cosigners from your accounts. Adding a cosigner is a good way to get credit, especially when you are first starting to repair your credit score – and they offer another chance to bolster your score when you remove them. Once your credit gets to a point where you can qualify without cosigners, call your financial institution and remove them from your existing accounts.
If you are in the midst of repairing your credit and find that you are having difficulty paying bills on time due to financial stress, call the financial institution and see what options there may be for you. You may qualify for an economic hardship deferment of a loan or for reduced payments. You never know unless you ask!
If a collection agent does not inform you of your rights stay away. All legitimate credit collection firms follow the Fair Credit Reporting Act. If a company does not let you know of your rights they may be a scam. Learn what your rights are so that you know when a company is trying to push you around.
Discuss your credit situation with a counselor from a non-profit agency that specializes in credit counseling. If you qualify, counselors may be able to consolidate your debts or even contact debtors to reduce (or eliminate) certain charges. Gather as many details about your credit situation as possible before you contact the agency so that you look prepared and serious about repairing your credit.
Did you know that every time you apply for credit, your credit score is damaged a little? Applying for multiple credit cards, loans and other debt can significantly decrease your score, making it difficult to purchase important items later, such as a home or car.
Think of your credit score as your financial reputation. Word gets around quickly, and if it is a negative one, it can be hard to recover from. Keeping your credit good from the beginning is best, but if you have had some setbacks, this article has shown you that you can clean up your financial reputation and get back on track.
In tough economic times, it is all too easy to find yourself suddenly having financial problems. Whether your bills are piling up, you have debts you can’t pay, or you are looking for ways to earn more money, this advice can help. Keep reading this article to learn some great financial tips.
Don’t ever cosign on a loan for a friend or family member unless you are financially able and emotionally willing to take on the entire amount of the debt. Being a co-signer does not mean you are vouching for the trustworthiness of the other borrower; it means you are taking on responsibility for the loan if the other party fails to pay.
Make a list of your monthly expenses. Sit down and make a list of everything that you are spending your money on. See if you can cut some things out. For instance, do you really need that daily coffee at the coffeehouse? Finding where you can cut expenses, strengthens your overall financial picture.
Use cash or a debit card instead of a credit card, especially when purchases are small. This will save you money in interest if you are someone who does not pay credit card bills in full every month, and will allow you to purchase from vendors who may not take credit cards for small amounts.
Spend less than you earn. This may sound obvious, but far too many people try to live beyond their means to keep up with the wealthy. Spending more than you make can negatively impact your financial history. Try to live within your means, and you may eventually find that you come out ahead with what you save in the process.
If you are a member of any groups such as the police, military or a car assistance club, ask if a store provides discounts. Many shops offer discounts of 10% or even more, but not all advertise that fact. Prepare to show your card as proof of membership or give your number if you are shopping online.
Unless you have no other choice, do not accept grace periods from your credit card company. It seems like a great idea, but the problem is you get used to not paying your card. Paying your bills on time has to become a habit, and it’s not a habit you want to get away from.
No matter what sort of financial difficulties you may be having, the tested advice you have just read can help. There is no substitute for knowledge when you are having financial problems. Once you start putting this advice to work in your own life, you will soon be able to resolve your financial problems.
Meeting the demands of your life can be difficult at best sometimes. However, when you include your personal finances, the obstacles can increase. There are great ways to make smarter spending and saving choices, if you have the right mind set and willpower. Make a good start by reading on, and find some great advice for putting you on the right financial path.
Look into buying your own house, as opposed to renting a place. This is so that you can put your money towards something, instead of throwing it away. That is what you’re essentially doing when you’re just renting a place.
Instead of buying new movies or renting them from the video store, check out the selection at your local library. Many libraries have a stock of old movies and get many of the new ones when they are released. Because library membership is dependent on where you live, this is a free way to watch your favorite movies.
When going through bankruptcy, don’t let creditors harass you. When you file for bankruptcy, an “automatic stay” goes into effect. This means that creditors can take no action on outstanding debts, including calling you and filing lawsuits. Part of the bankruptcy process is a meeting of creditors, where creditors will have their chance to get as much money from you as your assets allow.
If you are looking for a way to have ideal finances one thing you need to remember is that there are many high interest investments available. If you have all of your savings put away into savings accounts your money is not working as hard for you as it could. Look for other ways to make more money off of your money, like mutual funds.
Spending less than you earn is the number one way to financial freedom. This ensures that you have money to save and you do not acquire debt that will keep you in the hole! It is always good not to have debt hanging over your head causing stress in your life.
It is easy to see that with some minor changes, combined with the right attitude, you can make a big change in your financial outlook. Getting the most out of the money that you bring in, is just as important as what you get from the money you spend. Use what you have learned here to get control of your finances, and stop letting them control you.
A job is something every adult must have in order to feed himself and his family and to live in this society. It can be hard to get a job if you don’t have one, but you have come to the right place. This article is going to help you get a great job, just check out these tips.
Make sure that you send a thank you note to all of the people that have given you interviews. Sometimes people choose other candidates, but they will keep you in mind for future positions just because you are courteous. Send the note a day or two after the interview so they can remember who you are.
Remember that a job interview allows both, you and the interviewer to get to know each other. View the interview as an opportunity to see whether you would like to work for this company instead of worrying about whether the interviewer will want to hire you. This new perspective will help you relax so that you can perform your best during the interview.
Get involved in creating corporate culture in your office. Everyone is happier in their employment when they are closer with their colleagues, so volunteer some of your time to create activities where you and your peers can meet and learn about each other. You’ll find your time at work will be that much more enjoyable!
A common mistake people make when they are on the job market is to consider certain jobs as ‘beneath them.’ The bottom line is that you need to make ends meet. If you have considerable savings, that’s one thing, but you may want to consider accepting a job that may not be your ideal job but that would allow you to pay the bills while you look for another source of employment.
If you plan to use current or former coworkers and supervisors as a business or personal reference, stay in touch. Maintaining contact with these people is important because it ensures that you have accurate, current information. Periodically verify your contacts’ telephone numbers, mailing address, current place of employment and email address. Providing incorrect contact information to a potential employer may hurt your chances for success.
Come up with a professional sounding email address when job hunting. Include your full name so that people can easily search for your email, especially if it has your resume attached, when they need to fill a position. You can stop using the email address once you’ve found a job.
When you graduate college, put the pedal to the metal and apply for jobs as soon as you can. It is very tempting to sit back and wait a few months or years before you get yourself going. Taking the initiative immediately will put you ahead of everyone who is sitting back and doing nothing.
The tips here are hopefully helping you start to think in a way that will make you more employable. Use them as you go through your job hunting process, and it is sure to help. You can get a job in this economy, you just need to know what to do, and hopefully this article has helped.