Location list of records
This short index is easy to create. Open each file drawer (or box) where you keep records, and list the contents. Example: top drawer of the black filing cabinet—car records, club memberships, employment info, insurance policies. Green box under the guest room bed—medical records, mortgage, tax records. Bowl on top of the refrigerator—warranties and paid bills.
Use this worksheet to help organize your important papers.
Photocopies of what's in your wallet
Once a year, make a copy of all the credit and ID cards you carry around. Place as many cards as will fit on the screen, photocopy, then flip the cards over and do the other side. Don't forget medical insurance, voter registration and health club membership cards. If your wallet ever disappears, here are some numbers that will come in handy:
Master list of all your accounts
(Savings, checking and credit card, as well as investment and insurance records)
Millions of dollars go unclaimed every year because people lose track of their holdings. Remember that insurance policy you bought in college? Hey, you could have money coming to you! Write down every bank, credit card, investment and insurance account you have. For each, list the institution, type of account (checking? money market?), owner or policyholder (you? you and a relative?), account number and contact information. Add frequent flier accounts, computer access codes and any other key passwords to this document.
Use this master list worksheet to keep track of all your accounts.
Safe-deposit-box inventory
Make a list of all the irreplaceables (jewelry, photo negatives, heirlooms) as well as the critical documents (marriage license, birth certificate, stocks and bonds) that you've stored under lock and key. Photocopy the documents for your household files.
Once you've completed your Vital Documents Map, store a copy in three different places: (1) in a clearly marked folder in your home or office (2) with your attorney, a close friend, or a family member who doesn't live with you and (3) in your safe-deposit box.
Showing posts with label finance. Show all posts
Showing posts with label finance. Show all posts
Wednesday, June 2, 2010
Thursday, March 12, 2009
These are the difference..
Happiness and Optimism
Some people believe money leads to happiness. Not true. Once you're living comfortably, more money doesn't buy more happiness. The reverse, however, is true: Happiness leads to money. And success. Likewise, so does optimism. Both enable you to solve problems, conjure ideas, take long-range consequences into consideration and come back and try again if you miss the first time.
Resilience
People who have moved from a bad financial situation into comfort or wealth have resilience. They can overcome—on the job, in their personal lives, with their finances. They don't deny the bad things that happen, but they're able to turn their focus to things over which they have control with the belief that they have the ability to effect change. The good news is you don't have to be born with resilience—you can learn it by controlling the things you can control and letting go of the others.
Passion
It is a key element that moves people from a life of financial struggle to one of financial success. The wealthy, simply put, want it more than the rest of that. Some want it in the form of money, but most are quite passionate about the careers they choose to pursue. And, at a time where doing what you love may seem not so possible, it's important to know you can learn to love what you do.
Intuition
Over the years, your brain has scored up scads of patterns, information that tells you that if one thing happens, something else is likely to follow. We feel these signals in our gut. They are really our intuition, a sixth sense that is more developed in the wealthy than in anyone else. You can learn to bring yours forward by adopting strategies like giving your intuition a little room to breathe.
Habitual saving
The wealthy people certainly have the funds to be crazy spenders, but most are not. Both wealthy and financially comfortable individuals say that saving more money has been an "absolutely essential" financial goal as an adult. If you're not a habitual saver already, The Difference will show you how.
Invest in stocks
When housing prices were cratering and the markets were falling out of the sky. Yet, one lesson emerged again and again: The wealthy understand the need to take risks in the market—in good times and in bad—in order to make their money work as hard as they do.
Gratitude
The Karma Kickback. The people who get rich—and stay rich—are not just grateful. The need to practice gratitude by giving back to their communities, to organizations and be thankful for their job—when they think about it as a gift, they focus on what life might be if they didn't have it.
Some people believe money leads to happiness. Not true. Once you're living comfortably, more money doesn't buy more happiness. The reverse, however, is true: Happiness leads to money. And success. Likewise, so does optimism. Both enable you to solve problems, conjure ideas, take long-range consequences into consideration and come back and try again if you miss the first time.
Resilience
People who have moved from a bad financial situation into comfort or wealth have resilience. They can overcome—on the job, in their personal lives, with their finances. They don't deny the bad things that happen, but they're able to turn their focus to things over which they have control with the belief that they have the ability to effect change. The good news is you don't have to be born with resilience—you can learn it by controlling the things you can control and letting go of the others.
Passion
It is a key element that moves people from a life of financial struggle to one of financial success. The wealthy, simply put, want it more than the rest of that. Some want it in the form of money, but most are quite passionate about the careers they choose to pursue. And, at a time where doing what you love may seem not so possible, it's important to know you can learn to love what you do.
Intuition
Over the years, your brain has scored up scads of patterns, information that tells you that if one thing happens, something else is likely to follow. We feel these signals in our gut. They are really our intuition, a sixth sense that is more developed in the wealthy than in anyone else. You can learn to bring yours forward by adopting strategies like giving your intuition a little room to breathe.
Habitual saving
The wealthy people certainly have the funds to be crazy spenders, but most are not. Both wealthy and financially comfortable individuals say that saving more money has been an "absolutely essential" financial goal as an adult. If you're not a habitual saver already, The Difference will show you how.
Invest in stocks
When housing prices were cratering and the markets were falling out of the sky. Yet, one lesson emerged again and again: The wealthy understand the need to take risks in the market—in good times and in bad—in order to make their money work as hard as they do.
Gratitude
The Karma Kickback. The people who get rich—and stay rich—are not just grateful. The need to practice gratitude by giving back to their communities, to organizations and be thankful for their job—when they think about it as a gift, they focus on what life might be if they didn't have it.
Wednesday, February 18, 2009
Stop Fighting About Money...
We all know that money consistently tops the charts when it comes to things couples fight about. When wallets are tighter—as they most certainly are now—things only get worse. We're stressed, we're worried about our jobs, our investments, our bank accounts, and we take it out on each other.
Here are four ways to work through your money woes as a team.
Agree on a Budget—Together
They say opposites attract, and I guess that's one reason so many spenders find themselves with savers, or vice versa.
It's hard to break old habits, so instead of trying to convert your spendthrift husband into a tightwad, sit down and agree to a few limits. What percentage of your income will go toward entertainment? What percent will go toward other extras, like new clothes, and what percent do you need to set aside for housing, transportation, savings and debt repayment?
Make sure you're divvying up take-home pay, not salary, otherwise, you're setting yourselves up to fall short. Once you've agreed on a budget, stick to it.
Set Goals
Maybe you want to buy a house while interest rates are down, or maybe you already have one and the only thing you need is a vacation. Or you want to be debt-free a year from now, or send your kids to college or go back to school yourself. Work out a game plan together so you know what is coming your way, when, and how you'll foot the bill. Talk about your short-term goals (the vacation) and the long-term ones (retirement), and make sure you share a similar picture of the future. A little foresight goes a long way.
Remember, too, that there are some things—layoffs, major car maintenance, medical bills—that you just can't predict. This is where an emergency fund comes in. Pull at least three to six months' worth of living expenses together so you have it at the ready in either a savings or money market account.
Communicate
The last thing you need to do is micromanage each other's expenses, a sure road to disaster. But keeping each other informed of major expenditures easily eliminates costly problems like bounced checks or over-the-limit credit card fees.
It's up to you do define major—it largely depends on how much disposable income you have—but many couples use $100, $300 or $500 as the threshold. In other words, if you want to buy a coffee, go ahead. If you want to buy a new television, it's probably a good idea to give your spouse a call first.
Get to the Root of the Issue
Money fights usually aren't about money. Sometimes they're about power. Sometimes, when assets are unequal, they're about self-esteem or jealousy. Sometimes they're about attention, if in your mind money equals love or affection.
Point being, it's really important for you both to try to understand what's driving your anger, instead of letting it fester. If you're upset about something, hash it out, but do it calmly. If you can't, enlist the help of a financial planner or even a marriage counselor.
Here are four ways to work through your money woes as a team.
Agree on a Budget—Together
They say opposites attract, and I guess that's one reason so many spenders find themselves with savers, or vice versa.
It's hard to break old habits, so instead of trying to convert your spendthrift husband into a tightwad, sit down and agree to a few limits. What percentage of your income will go toward entertainment? What percent will go toward other extras, like new clothes, and what percent do you need to set aside for housing, transportation, savings and debt repayment?
Make sure you're divvying up take-home pay, not salary, otherwise, you're setting yourselves up to fall short. Once you've agreed on a budget, stick to it.
Set Goals
Maybe you want to buy a house while interest rates are down, or maybe you already have one and the only thing you need is a vacation. Or you want to be debt-free a year from now, or send your kids to college or go back to school yourself. Work out a game plan together so you know what is coming your way, when, and how you'll foot the bill. Talk about your short-term goals (the vacation) and the long-term ones (retirement), and make sure you share a similar picture of the future. A little foresight goes a long way.
Remember, too, that there are some things—layoffs, major car maintenance, medical bills—that you just can't predict. This is where an emergency fund comes in. Pull at least three to six months' worth of living expenses together so you have it at the ready in either a savings or money market account.
Communicate
The last thing you need to do is micromanage each other's expenses, a sure road to disaster. But keeping each other informed of major expenditures easily eliminates costly problems like bounced checks or over-the-limit credit card fees.
It's up to you do define major—it largely depends on how much disposable income you have—but many couples use $100, $300 or $500 as the threshold. In other words, if you want to buy a coffee, go ahead. If you want to buy a new television, it's probably a good idea to give your spouse a call first.
Get to the Root of the Issue
Money fights usually aren't about money. Sometimes they're about power. Sometimes, when assets are unequal, they're about self-esteem or jealousy. Sometimes they're about attention, if in your mind money equals love or affection.
Point being, it's really important for you both to try to understand what's driving your anger, instead of letting it fester. If you're upset about something, hash it out, but do it calmly. If you can't, enlist the help of a financial planner or even a marriage counselor.
Monday, December 15, 2008
Strategies for Tough Times: Five Steps to Secure Your Financial Future
Read the newspapers, turn on the radio or television, and you'll get overwhelming evidence of something you probably already know: Times are tough. Unemployment is rising. Debt is rising. Credit is difficult to come by.In all sorts of tough times is to control the things you can control. You'll be surprised how much of a difference—both financially and emotionally—a few small moves will make.
Step 1: Build a Cushion
Having an emergency fund to fall back on is going to help you sleep at night during the best of times, and in a shaky economy, it can be a real lifesaver, particularly if you lose your job. About three to six months of living expenses for a two-income family, and closer to six if you're single or your spouse doesn't work outside the home. In a downturn, you want to shoot for six no matter what your situation, particularly if you work in an industry that's likely to be hit hard—think financial services, real estate or retail.
If that sounds like a lot of money, remember that we're talking about bare minimum living expenses here. If you're laid off, your spending is going to come to a screeching halt, meaning your emergency fund doesn't have to hold enough to cover your current lifestyle if it involves dining out every weekend, a daily affairs to the coffee shop and a movie shows always on Saturdays. You just need to have enough to float the necessities: gas, bill payments and food.
So where do you stash the cash? An emergency fund is all about liquidity, so you want to put it where you can get to it easily, but that doesn't mean you shouldn't earn some interest. Check out money market or high-interest savings accounts.
Step 2: Pay Down Debt
Getting rid of credit card and other high-interest debts during an economic downturn is your best investment. So how do you do it? You have to find wiggle room in your budget by looking at where your money is going and brainstorming ways to cut back. For the next two weeks, track every single cents that leaves your wallet, every swipe of your debit card. You'll be surprised at how much of your spending is discretionary—a teh tarih here, a movie there. Once you see how the little things add up, you'll have an easier time throwing that cash toward your debts, where it can really have an impact on your balance sheet.
And if you think you've cut back on everything you can, remember that other, bigger items can be adjusted as well. Maybe this year, you pick a family vacation spot that's within driving distance rather than having to shell out for pricey plane tickets.
Step 3: Rebalance Your Portfolio
The easiest way to do this is with target-date retirement funds. These guys take most of the work off your shoulders and are offered by most major investment firms. So what are they? In a nutshell, you pick the fund that will mature closest to when you anticipate retiring—so if you're 35 years old, you want to select a fund with a target date of 2030.Then, it will rebalance itself over time, so you're investing aggressively in more stocks, less bonds while you're young, and as you age, the balance shifts to more bonds, less stocks.
If you want a little more control, a general formula for balancing your portfolio is to subtract your age from 100. The resulting number is the percentage of your money that you should have in stocks. One other thing: Don't try to time the market. History tells us that this never works, and the best strategy is just letting your money ride. If you start making moves, there's a good chance you'll end up selling low and buying high, which is the opposite of what you want. The market always rebounds, so sit tight.
Step 4: Keep Your Job
It's not quite that easy. But you can take a few steps to ensure that the odds are in your favor. When companies look to cut costs and, subsequently, people, they look at who's generating the most revenue. Are you having a positive impact on the company's bottom line? Be sure that you're working on important projects, and ask your boss if you can take on additional responsibilities. The key is to seem indispensable.
When all else fails, it doesn't hurt to have a headhunter at your fingertips in case so you can take action quickly in case things go wrong. And networking, always key to getting and keeping a good job, is even more important now. Show up to events, join an association—the idea is to keep your name and face fresh in the minds of decision makers.
Step 5: Work on Your Credit Score
What constitutes a good score has actually gone up, so you have to work a little harder to stay at the top of the class. Things like shopping for credit and high levels of debt all work against you, so keep them to a minimum.
Also, a good score means easy access to cash if you need it, and in these times, everyone should have a home equity line of credit in their back pocket in case of an emergency.
Step 1: Build a Cushion
Having an emergency fund to fall back on is going to help you sleep at night during the best of times, and in a shaky economy, it can be a real lifesaver, particularly if you lose your job. About three to six months of living expenses for a two-income family, and closer to six if you're single or your spouse doesn't work outside the home. In a downturn, you want to shoot for six no matter what your situation, particularly if you work in an industry that's likely to be hit hard—think financial services, real estate or retail.
If that sounds like a lot of money, remember that we're talking about bare minimum living expenses here. If you're laid off, your spending is going to come to a screeching halt, meaning your emergency fund doesn't have to hold enough to cover your current lifestyle if it involves dining out every weekend, a daily affairs to the coffee shop and a movie shows always on Saturdays. You just need to have enough to float the necessities: gas, bill payments and food.
So where do you stash the cash? An emergency fund is all about liquidity, so you want to put it where you can get to it easily, but that doesn't mean you shouldn't earn some interest. Check out money market or high-interest savings accounts.
Step 2: Pay Down Debt
Getting rid of credit card and other high-interest debts during an economic downturn is your best investment. So how do you do it? You have to find wiggle room in your budget by looking at where your money is going and brainstorming ways to cut back. For the next two weeks, track every single cents that leaves your wallet, every swipe of your debit card. You'll be surprised at how much of your spending is discretionary—a teh tarih here, a movie there. Once you see how the little things add up, you'll have an easier time throwing that cash toward your debts, where it can really have an impact on your balance sheet.
And if you think you've cut back on everything you can, remember that other, bigger items can be adjusted as well. Maybe this year, you pick a family vacation spot that's within driving distance rather than having to shell out for pricey plane tickets.
Step 3: Rebalance Your Portfolio
The easiest way to do this is with target-date retirement funds. These guys take most of the work off your shoulders and are offered by most major investment firms. So what are they? In a nutshell, you pick the fund that will mature closest to when you anticipate retiring—so if you're 35 years old, you want to select a fund with a target date of 2030.Then, it will rebalance itself over time, so you're investing aggressively in more stocks, less bonds while you're young, and as you age, the balance shifts to more bonds, less stocks.
If you want a little more control, a general formula for balancing your portfolio is to subtract your age from 100. The resulting number is the percentage of your money that you should have in stocks. One other thing: Don't try to time the market. History tells us that this never works, and the best strategy is just letting your money ride. If you start making moves, there's a good chance you'll end up selling low and buying high, which is the opposite of what you want. The market always rebounds, so sit tight.
Step 4: Keep Your Job
It's not quite that easy. But you can take a few steps to ensure that the odds are in your favor. When companies look to cut costs and, subsequently, people, they look at who's generating the most revenue. Are you having a positive impact on the company's bottom line? Be sure that you're working on important projects, and ask your boss if you can take on additional responsibilities. The key is to seem indispensable.
When all else fails, it doesn't hurt to have a headhunter at your fingertips in case so you can take action quickly in case things go wrong. And networking, always key to getting and keeping a good job, is even more important now. Show up to events, join an association—the idea is to keep your name and face fresh in the minds of decision makers.
Step 5: Work on Your Credit Score
What constitutes a good score has actually gone up, so you have to work a little harder to stay at the top of the class. Things like shopping for credit and high levels of debt all work against you, so keep them to a minimum.
Also, a good score means easy access to cash if you need it, and in these times, everyone should have a home equity line of credit in their back pocket in case of an emergency.
Monday, November 10, 2008
You need to think about ' Tomorrow'
We have lots of things to think about day in and day out. But many of us share the same problem—we don't think through how our choices might play out down the line. Be it jumping into home ownership without fully understanding the mechanics of mortgages or choosing to become a stay-at-home mom when the family income is already stretched thin. Money is important and financial stress can be greatly minimized with some advance planning.
Anticipate.
Living in the moment doesn't mean you can forget about the future. Financial security often boils down to the simple task of anticipating the consequences of your actions. The goal is to make sure that whatever choices you make today you can handle tomorrow. It is always important to have something to cushion us from the unexpected that might crop out. Always advisable to keep some cash emergency fund for contingencies.
Address.
If you end up in a tight squeeze, the the most important move you had to do is to put on your thinking cap and start cracking your head for solutions. Refusing to open bills or relying on hope that you will strike it rich with rotaries/gambling or a prayer to bail you out of a steep mortgage won't help. The more committed you are to taking action now, the better off you'll be.
Adjust.
If your finances have pushed you to the brink, it's time to step back and go in another direction. For example, I'm a huge supporter of any woman choosing to be a stay-at-home parent but only if it makes financial sense for the family. If it doesn't, there's still no need to jump back into the workforce at 60 hours a week; find a part-time position to help you get on better footing. Every problem is solvable if you stop holding on to the past and embrace the decisions that make sense going forward.
Anticipate.
Living in the moment doesn't mean you can forget about the future. Financial security often boils down to the simple task of anticipating the consequences of your actions. The goal is to make sure that whatever choices you make today you can handle tomorrow. It is always important to have something to cushion us from the unexpected that might crop out. Always advisable to keep some cash emergency fund for contingencies.
Address.
If you end up in a tight squeeze, the the most important move you had to do is to put on your thinking cap and start cracking your head for solutions. Refusing to open bills or relying on hope that you will strike it rich with rotaries/gambling or a prayer to bail you out of a steep mortgage won't help. The more committed you are to taking action now, the better off you'll be.
Adjust.
If your finances have pushed you to the brink, it's time to step back and go in another direction. For example, I'm a huge supporter of any woman choosing to be a stay-at-home parent but only if it makes financial sense for the family. If it doesn't, there's still no need to jump back into the workforce at 60 hours a week; find a part-time position to help you get on better footing. Every problem is solvable if you stop holding on to the past and embrace the decisions that make sense going forward.
Monday, May 5, 2008
Are you buying affection?
Do you use money to buy affection and approval from your friends, family, and children?
Get real about why you're doing what you're doing. What's stopping you from dealing with the real issue? Why not deal with it instead of going shopping? What does persistent buying teach your family?
Don't underestimate children; they'll learn from your actions. A real contribution would be to balance your life so you can be there for them. Don't try to justify that you are dealing with it by 'buying' their love.
Most likely, your behavior is a result of the guilt you feel for not having enough time to spend with your children. Buying is a false substitute and an illusion.
Life is about compromise. You must figure out a way to maximize your time with your family. By putting yourself in debt, you put their future in jeopardy and make the problem worse
Be honest. Ask yourself, "How insulting is this to me that I have buy my way into every relationship?"
Step up and say, "If they like me, they like me." It's better to be healthy alone than sick with someone else. And if you have to pay somebody to like you, they're not much of a friend.
Deal with this problem emotionally, not financially. When you quit hiding behind gifts, you'll be forced to deal with your real problem.
Get real about why you're doing what you're doing. What's stopping you from dealing with the real issue? Why not deal with it instead of going shopping? What does persistent buying teach your family?
Don't underestimate children; they'll learn from your actions. A real contribution would be to balance your life so you can be there for them. Don't try to justify that you are dealing with it by 'buying' their love.
Most likely, your behavior is a result of the guilt you feel for not having enough time to spend with your children. Buying is a false substitute and an illusion.
Life is about compromise. You must figure out a way to maximize your time with your family. By putting yourself in debt, you put their future in jeopardy and make the problem worse
Be honest. Ask yourself, "How insulting is this to me that I have buy my way into every relationship?"
Step up and say, "If they like me, they like me." It's better to be healthy alone than sick with someone else. And if you have to pay somebody to like you, they're not much of a friend.
Deal with this problem emotionally, not financially. When you quit hiding behind gifts, you'll be forced to deal with your real problem.
Tuesday, April 29, 2008
Couples and Money
Money can be one of the most important factor in any relationships. There is also a saying that money is the cause of all evils.These money woes can lead to divorce to marriage couples. Couples must learn to solve their money problems and not pretend that the situation would turn for better. There are always solutions and ways and work it out among both of you. Have open and frank communication and meeting between both of you about your wants and needs.
Money talks
Begin to have regular money talks. Whether you had been married 30 years or are just starting to plan on moving in together, the first money talk you have should be when you are not stressed and are both fairly relaxed. Sit down with your partner and share what money was like in your family growing up, what money messages you may have inherited and what your money personality may be, Also share money secrets,including any debt or student loans you may have.
Never merge all your money.
This is especially important for women in order to retain a sense of self image. Women who tend to over-give and over-merge and tend to lose themselves in relationships. They need to safeguard themselves so as to have a healthy sense of belonging and self confident.
Work out a system for joint expenses.
Each partner is recommended to make their own list of what they think should be joint expenses, joint savings, joint emergency funds, etc. Then, merge the lists, make contributions to the joint accounts proportional to your income, and keep the rest separate. Always have some merged money and some separate money.
Know when to seek outside help.
Look to an expert when you cannot talk to your partner about money, if you are losing sleep over it or when you start hiding things from your partner. Couples will feel distress and hopeless which will eventually lead to divorce.
Consider a prenuptial agreement.
Try to draw up an agreement about finances before marriage. However,there is no standard rule that can suits both of you. At least, there will not be any objections or any unwanted argument later on. No harm, so what not.. it is better safe than sorry later.
Money talks
Begin to have regular money talks. Whether you had been married 30 years or are just starting to plan on moving in together, the first money talk you have should be when you are not stressed and are both fairly relaxed. Sit down with your partner and share what money was like in your family growing up, what money messages you may have inherited and what your money personality may be, Also share money secrets,including any debt or student loans you may have.
Never merge all your money.
This is especially important for women in order to retain a sense of self image. Women who tend to over-give and over-merge and tend to lose themselves in relationships. They need to safeguard themselves so as to have a healthy sense of belonging and self confident.
Work out a system for joint expenses.
Each partner is recommended to make their own list of what they think should be joint expenses, joint savings, joint emergency funds, etc. Then, merge the lists, make contributions to the joint accounts proportional to your income, and keep the rest separate. Always have some merged money and some separate money.
Know when to seek outside help.
Look to an expert when you cannot talk to your partner about money, if you are losing sleep over it or when you start hiding things from your partner. Couples will feel distress and hopeless which will eventually lead to divorce.
Consider a prenuptial agreement.
Try to draw up an agreement about finances before marriage. However,there is no standard rule that can suits both of you. At least, there will not be any objections or any unwanted argument later on. No harm, so what not.. it is better safe than sorry later.
Monday, April 28, 2008
Money and happiness
Money and happiness are two of the most powerful forces in our lives, but what is so interesting is how we have convinced ourselves that there is a powerful connection between them: We seem to think that if we were rich, our lives would be perfect.However most of the time this proved otherwise.
People who have lots of money does not create or sustain happiness. That is not to say that money is not an important factor in our emotional state...if we cannot pay our bills and support our families, we carry a great deal of stress on our shoulders and in our hearts. But it is seriously no logic to jump to conclusion that "money is power and much more important" to "money is the key to happiness."
It is a proven fact that some lottery winners or those who suddenly become rich (with whatever method) tend to lavish themselves with all kinds of everything after they hit the jackpot, but within a few years, went out of control with this situation and ended up being miserable with their lives.
This is also applicable to how some people have this weird relationship with food. When they are unhappy, they will turn to food for comfort which they believe, either consciously or subconsciously, will make them feel better. Sure, that very nice and tasty food might give them just a nice temporary lift, just like buying a great new handbag or outfit...but it is temporary.
Truth and Consequences
The message is that happiness is not tied to how much money you have—how much you had in the past or hope to have in the future...but how you deal with what you have right now.
Obviously, It is understood that it is far more difficult to live on $20,000 a year than $200,000. But we all have the capacity to take control of our lives,regardless of our bank accounts... to commit to making the right decisions for ourselves and our family. When we do that, we are on the road to happiness. When you are happy, you create your own financial stability by living within your means.
Power moves
Most people are unhappy because they are not being honest with themselves. Being truthful with yourself, you have to have that power in you, whether it is your relationship with money or with a partner. You are not going to be contented with lives. To be successful means you have to connect heart and manage your finance with all your energy. It is within you to make the right choices rather than fall to your weakness. In this way, you will feel better because your finances are in good shape, and also because you took the initiative to create a life based on honesty. This is a sure and priceless route to ultimate happiness.
People who have lots of money does not create or sustain happiness. That is not to say that money is not an important factor in our emotional state...if we cannot pay our bills and support our families, we carry a great deal of stress on our shoulders and in our hearts. But it is seriously no logic to jump to conclusion that "money is power and much more important" to "money is the key to happiness."
It is a proven fact that some lottery winners or those who suddenly become rich (with whatever method) tend to lavish themselves with all kinds of everything after they hit the jackpot, but within a few years, went out of control with this situation and ended up being miserable with their lives.
This is also applicable to how some people have this weird relationship with food. When they are unhappy, they will turn to food for comfort which they believe, either consciously or subconsciously, will make them feel better. Sure, that very nice and tasty food might give them just a nice temporary lift, just like buying a great new handbag or outfit...but it is temporary.
Truth and Consequences
The message is that happiness is not tied to how much money you have—how much you had in the past or hope to have in the future...but how you deal with what you have right now.
Obviously, It is understood that it is far more difficult to live on $20,000 a year than $200,000. But we all have the capacity to take control of our lives,regardless of our bank accounts... to commit to making the right decisions for ourselves and our family. When we do that, we are on the road to happiness. When you are happy, you create your own financial stability by living within your means.
Power moves
Most people are unhappy because they are not being honest with themselves. Being truthful with yourself, you have to have that power in you, whether it is your relationship with money or with a partner. You are not going to be contented with lives. To be successful means you have to connect heart and manage your finance with all your energy. It is within you to make the right choices rather than fall to your weakness. In this way, you will feel better because your finances are in good shape, and also because you took the initiative to create a life based on honesty. This is a sure and priceless route to ultimate happiness.
Friday, April 25, 2008
Debt diet
It is time to get rid of your debt! A step-by-step action plan to help set you on the path to financial freedom.
Step 1: How much debt do you really have?
It's time to get real about your debt. Do you know how much living with debt is costing you?
Step 2: Track your spending and find extra money to pay down debt
Time to cut back on the extras. It is time to start savings on the unnecessary expenditures you are paying.
Step 3: Learn to play the credit card game
Think $10 a day won't make a big difference in your debt? Think again! you can pay off $8,000 in credit card debt in just 3 years.
Step 4: Stop spending
Making small changes can help in a big way. Use these tricks to help you spend less and save more.
Step 5: Create a monthly spending plan
Use the monthly spending plan worksheet and calculator to create a budget that you can stick to—and save with—every paycheck.
Step 6: Take big steps to grow your income
Whether it is selling your assets or getting a second job, sometimes you have to make big choices to get out of debt.
Step 7: Prioritize your debts and raise your credit score
Step 8: Understand your spending issues…and save!
Resist temptation and build an emergency fund.
Step 1: How much debt do you really have?
It's time to get real about your debt. Do you know how much living with debt is costing you?
Step 2: Track your spending and find extra money to pay down debt
Time to cut back on the extras. It is time to start savings on the unnecessary expenditures you are paying.
Step 3: Learn to play the credit card game
Think $10 a day won't make a big difference in your debt? Think again! you can pay off $8,000 in credit card debt in just 3 years.
Step 4: Stop spending
Making small changes can help in a big way. Use these tricks to help you spend less and save more.
Step 5: Create a monthly spending plan
Use the monthly spending plan worksheet and calculator to create a budget that you can stick to—and save with—every paycheck.
Step 6: Take big steps to grow your income
Whether it is selling your assets or getting a second job, sometimes you have to make big choices to get out of debt.
Step 7: Prioritize your debts and raise your credit score
Step 8: Understand your spending issues…and save!
Resist temptation and build an emergency fund.
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