There are a lots of ways for us to save our money. In terms of recession factor, we need to look up some ways to help us to live for frugality or even living cheap. Here are some tips for money saving for your guidance:
a. Don't shop or window shopping when you have little money.
The time you have little small money, it is the time you're feeling financial depressed. This is the right time for you to stay at home and look up some ways for money saving, not money spending.
b. Purchase the branded products during sales
You know actually the price for branded products. Very costly. However, each of us sometimes have the desire to wear and use the very 'expensive' and high quality things, like shoes, clothes, perfumes, make up, skincare products, or even technology gadgets. My advice is to look the things whenever the sales is on the air. You're not only taking advantages on the price, but you're even saved your money.
c. Cook for your own meal, don't buy outside food
Consume outside food, sometimes really tasty even it quite costly. But, when the time you do not own so much money, it's better you have your own meal by yourself. However, this treat is best when you already buy the groceries early of the month.
d. Use public transport, instead of your own car
This treat will not only save much of your money, but you can avoid jam. Nowadays, it's quite convenient and affordable to use LRT, Komuter, Monorel or even public buses in town. The other best factor to use public transport is you can avoid the air pollution from your own car.
e. Go for bulk purchases for always-use products
Things that you always use, like shower foam, shampoo, pads & pantiliner (for women only), groceries etc, it's better to go for bulk purchases because the price on bulk is much cheaper if compared to buying in single items.
Sunday, March 15, 2009
Saturday, March 7, 2009
Overcoming financial stress
Stress can be exists when problems occur in our financial management. Perhaps, the money spend is over that the budget, loans that yet to be settled, health problem arises (which may lead to the usage of monthly saving), car broken / accident, and many more. When problems occur, the possibility of pressure is high. Thus, it will give the impact to our emotion and mind. One can be so emotionally and unable to think or use his / her mind properly. Hence, a lot of self-murdered or others crime happened in our society.
So what can you do to stay financially secure through these fluctuations? How you should overcome your financial stress? Herewith a few steps might be helpful to solve this stress:
a. Cut Off Unnecessary Expenses
Figure out what are the things that not so necessary, even we think sometimes we may need it. To cut off is as simple as a daily cup of gourmet coffee adds up to a lot of money quickly. Looking into it properly, sometimes you can even save RM7 a day. Just think about it...RM7 a day adds up to RM170 a month!
b. Supplement Your Income
As you are building your practice or business, it may necessary to have a secondary source of income. What are your skills and education? Are there other things you can do temporarily to fill the financial gap? Easing the financial stress will make it easier to draw new clients to you. Remember we all communicate at a subconscious level and if you are desperate for clients, this will be picked up by the people who you want to hire you. When you are relaxed, it will be much easier for the love of what you do to shine through to those you are trying to attract.
c. Make a plan
What is your plan for expanding your business? Have you developed strategies to incorporate multiple streams of income? Do you have a mailing list to share your new services with? How will you let people know about what you have to offer? Create a business plan to map out how you will market and incorporate additional means of earning income. Moving beyond earning income only through working with one on one clients is the best way to develop a strong financial base that won't be subjected to the ups and downs of the finanical climate. Start making a plan how you will create this new type of business today.
d. Think positive
This last step is often the hardest for all of us. Try to remember that even when it seems like no one needs what you have to offer, that God gave you your unique gifts for a reason. I promise you that someone out there is praying for help only you can provide right now. Believe that your special abilities are here as part of your Divine Purpose, which means God must have a plan for how the people who need your gifts are going to find you. Set the positive attitude and mindset in yourself. Hang in there...the one thing you can count on in life is change, so if you are in a down swing, an upswing must be on the way!
Good Luck!
So what can you do to stay financially secure through these fluctuations? How you should overcome your financial stress? Herewith a few steps might be helpful to solve this stress:
a. Cut Off Unnecessary Expenses
Figure out what are the things that not so necessary, even we think sometimes we may need it. To cut off is as simple as a daily cup of gourmet coffee adds up to a lot of money quickly. Looking into it properly, sometimes you can even save RM7 a day. Just think about it...RM7 a day adds up to RM170 a month!
b. Supplement Your Income
As you are building your practice or business, it may necessary to have a secondary source of income. What are your skills and education? Are there other things you can do temporarily to fill the financial gap? Easing the financial stress will make it easier to draw new clients to you. Remember we all communicate at a subconscious level and if you are desperate for clients, this will be picked up by the people who you want to hire you. When you are relaxed, it will be much easier for the love of what you do to shine through to those you are trying to attract.
c. Make a plan
What is your plan for expanding your business? Have you developed strategies to incorporate multiple streams of income? Do you have a mailing list to share your new services with? How will you let people know about what you have to offer? Create a business plan to map out how you will market and incorporate additional means of earning income. Moving beyond earning income only through working with one on one clients is the best way to develop a strong financial base that won't be subjected to the ups and downs of the finanical climate. Start making a plan how you will create this new type of business today.
d. Think positive
This last step is often the hardest for all of us. Try to remember that even when it seems like no one needs what you have to offer, that God gave you your unique gifts for a reason. I promise you that someone out there is praying for help only you can provide right now. Believe that your special abilities are here as part of your Divine Purpose, which means God must have a plan for how the people who need your gifts are going to find you. Set the positive attitude and mindset in yourself. Hang in there...the one thing you can count on in life is change, so if you are in a down swing, an upswing must be on the way!
Good Luck!
Thursday, March 5, 2009
Keys to Financial Freedom
Caro Handley had given a word at one time, "Lack of confidence around money can result in low self-esteem and anxiety". That gives me very deeply meaning and thought about money prudence and financial freedom. In order to get a truly financial freedom, from the very first step, is our thought. It begins from our mind and the way we think about money. How you wanna throw away all the bad thinking about money and financial problem? What are the decisions for the actions you need to take in order to have very clean bad debt? Everything is begins with our mind and the way we think. But how? The thought we had in our mind is actually will lead to our action. For example, we think that because our income is low, then we don't have extra amount to save. At the end of the day, we have nothing to help us in future needs. All of these thought comes from the lack of confidence as the main root to financial freedom.
In Woman Weekly Magazine, February2009, it has mentioned that a research shows that a lack of confidence around money can result in low self-esteem and anxiety. We need to be in control of our money and know that, whatever happen in life, we can provide for ourself. Attaining our financial freedom with changing our attitude to money:
1. Throw out the fear and keep the positive thinking
I know many of us have the thought which always leave you behind from the financial freedom. Leave out all your negative thinking and your fear of money. You must put it away from your mind. Set your mind each day you wake up in the morning, you love money very, very much. Keep the positive thinking, for the effort you will take towards to your financial freedom.
2. Give up money cons
Almost everyone of us operates 'money cons' or little tricks to avoid the truth about what we're doing with our money. They may be obvious, like ignoring bank statements, or more subtle, like justifying a purchase to yourself when you know you can't afford it. Cons include relying on others to sort things out for you. If you don't confront your money cons you'll never be able to conquer them or your anxiety about money. Make a list of your cons and face them up. It means you're gonna facing up to your debt and managing the best ways to clear it up. Once you've gone through this steps, you will feel a huge relief. The next steps possible to proceed in smooth and fast ways.
3. Organise and well manage in simple ways
Organise and manage your money properly in the simplest way possible. Keep all the current documents (bills, statements etc) in one marked file. If you feel the physical file such a tedious way, you may use the software or any website which may assist you to manage your cash flow and track your bill in and out (try http://www.wesabe.com/ / http://www.moneytrackin.com/). Do not forget to check all of your standing orders. Are they relevant and necessary? Cancel any that aren't. Once everything is well organised, you'll feel in control. One rule may you follow: Spend less than you earn and you'll always feel rich". Keep a clear record and check it monthly.
4. Clear all the unsolved mysteries
Sometimes, you may have financial issues that you find confusing or avoid because you have no idea anything about them. Insurance policies, investments, pensions, you need to demystify them for yourself. Find the info and knowledge from financial institutions website, or go to pick up the leaflets from different financial institutions and consider what suits you. Bear in mind, you have to get clear answers from people you deal with.
One thing to bear in mind, when you have so much debts in hand, solved it first, then you can think other options to sort out for your financial; pensions, investment, etc. But while it's vital to address short-term money matters, it's also important to save, even if payments are small to begin with.
5. Set the goals
When you decide to take control of your finances, think about the future. What are you goals and dreams? And what do you need to put into place financially to realise them? If you dream of big house or future investments, consider what's involved financially. Anything is possible, especially when you're great with money.
In Woman Weekly Magazine, February2009, it has mentioned that a research shows that a lack of confidence around money can result in low self-esteem and anxiety. We need to be in control of our money and know that, whatever happen in life, we can provide for ourself. Attaining our financial freedom with changing our attitude to money:
1. Throw out the fear and keep the positive thinking
I know many of us have the thought which always leave you behind from the financial freedom. Leave out all your negative thinking and your fear of money. You must put it away from your mind. Set your mind each day you wake up in the morning, you love money very, very much. Keep the positive thinking, for the effort you will take towards to your financial freedom.
2. Give up money cons
Almost everyone of us operates 'money cons' or little tricks to avoid the truth about what we're doing with our money. They may be obvious, like ignoring bank statements, or more subtle, like justifying a purchase to yourself when you know you can't afford it. Cons include relying on others to sort things out for you. If you don't confront your money cons you'll never be able to conquer them or your anxiety about money. Make a list of your cons and face them up. It means you're gonna facing up to your debt and managing the best ways to clear it up. Once you've gone through this steps, you will feel a huge relief. The next steps possible to proceed in smooth and fast ways.
3. Organise and well manage in simple ways
Organise and manage your money properly in the simplest way possible. Keep all the current documents (bills, statements etc) in one marked file. If you feel the physical file such a tedious way, you may use the software or any website which may assist you to manage your cash flow and track your bill in and out (try http://www.wesabe.com/ / http://www.moneytrackin.com/). Do not forget to check all of your standing orders. Are they relevant and necessary? Cancel any that aren't. Once everything is well organised, you'll feel in control. One rule may you follow: Spend less than you earn and you'll always feel rich". Keep a clear record and check it monthly.
4. Clear all the unsolved mysteries
Sometimes, you may have financial issues that you find confusing or avoid because you have no idea anything about them. Insurance policies, investments, pensions, you need to demystify them for yourself. Find the info and knowledge from financial institutions website, or go to pick up the leaflets from different financial institutions and consider what suits you. Bear in mind, you have to get clear answers from people you deal with.
One thing to bear in mind, when you have so much debts in hand, solved it first, then you can think other options to sort out for your financial; pensions, investment, etc. But while it's vital to address short-term money matters, it's also important to save, even if payments are small to begin with.
5. Set the goals
When you decide to take control of your finances, think about the future. What are you goals and dreams? And what do you need to put into place financially to realise them? If you dream of big house or future investments, consider what's involved financially. Anything is possible, especially when you're great with money.
Tuesday, March 3, 2009
Managing Personal Financial
Problem? It's a recession time! It's a doomed day! You hate it, we hate it, they hate it and even me, also hate it. No one request the attending of recession. No one pray for it. But, why? WHY we do not like it? WHY we hate it so much? The answer is because, MONEY MATTERS. Recession is the time that gives you money problem. Well, do you ever wait for this problem come into your life? Of course not. But, what your steps to avoid it? What are your actions in terms of financial management and money prudence? Herewith the simple steps you might follow in terms of managing your cash flow.
A. Planning your budget
We need to plan our budget each month we received our income first, prior to your savings. What first thing to plan is, how many cash you will use in terms of bill payment, car loan, housing rental / loan, credit card bill, utilities bill or perhaps your parents monthly money. If you do not put aside all the money to be paid out, later on, when comes to your saving or personal usage like meal allowances, transport etc, it would be harsh.
Each time you know when is your income come to you, plan it first, either using pen and notebook or you could use electronically gadget or new trend technology to assist you.
B. Controlling
Control means how you monitor the execution of your cash and compare the figure out with your budget. You need to make sure, the money spend is less than the budget you've prepared. If your money spend over from your budget, the budget planned is failed. When the plan is fail, the next time you re-plan, you will encounter the same thing. So, it is very important to control your money over prior to your budget.
C. Savings
Why you need to save a portion from your income? Why savings is really important? Sometimes, you have a thing you eager to buy for the sake of your happiness, such as clothes, perfume, IT gadget, or perhaps planning for vacation. But, think it first, either you want the happiness for now, or put the money aside for future purpose with a little bit of sacrifice? This is the time most of us forget and do not want to focus. We might think it's ok to feel the happiness for now. When you found out that your money is gone to the thing that not supposed to buy, well, bear in mind, not to re-do the same mistake in next time. Small portion of your money at this time might help you during the need or hard time in future. Think about it!
A. Planning your budget
We need to plan our budget each month we received our income first, prior to your savings. What first thing to plan is, how many cash you will use in terms of bill payment, car loan, housing rental / loan, credit card bill, utilities bill or perhaps your parents monthly money. If you do not put aside all the money to be paid out, later on, when comes to your saving or personal usage like meal allowances, transport etc, it would be harsh.
Each time you know when is your income come to you, plan it first, either using pen and notebook or you could use electronically gadget or new trend technology to assist you.
B. Controlling
Control means how you monitor the execution of your cash and compare the figure out with your budget. You need to make sure, the money spend is less than the budget you've prepared. If your money spend over from your budget, the budget planned is failed. When the plan is fail, the next time you re-plan, you will encounter the same thing. So, it is very important to control your money over prior to your budget.
C. Savings
Why you need to save a portion from your income? Why savings is really important? Sometimes, you have a thing you eager to buy for the sake of your happiness, such as clothes, perfume, IT gadget, or perhaps planning for vacation. But, think it first, either you want the happiness for now, or put the money aside for future purpose with a little bit of sacrifice? This is the time most of us forget and do not want to focus. We might think it's ok to feel the happiness for now. When you found out that your money is gone to the thing that not supposed to buy, well, bear in mind, not to re-do the same mistake in next time. Small portion of your money at this time might help you during the need or hard time in future. Think about it!
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