budget

Effective Ways to Manage Money

There are many ways and tips on effective ways to manage money in general. Technically, all these tips talk about one thing: being able to have money when, or where needed. A lack and unfulfilled desire to acquire wealth when the call arises does not necessarily mean not being able to manage money effectively but may just be an overreach of expected events. Nevertheless, the person should be able to acquire and find ways to come up with the needed amount if ever there is a strapped budget from the unexpected event that requires to comply.

Look at The Future Goals

One of the most important and progressive values of a person to have effective ways to manage money is to have a sense of foresight. This foresight pertains to the ability of a person to know what things are most likely to happen to him in the future and be able to prepare beforehand with a substantial amount of time.

With this is the responsibility of being able to properly organize the timeline and the budget allocation of funding and financial distribution. Also, in this regard, the consideration of all other fees, bills, and payment allocations would have to be correctly identified and included in the plan.

An option of having to put an allowance or extended goal would be beneficial to the planner to allow himself to adjust and be able to cope with unexpected events with a bit more ease. In this manner, the one who manages the money can have an extra for a rainy season ahead.

Invest, Invest, Invest!

Another method to effectively manage money is to invest in progressive and productive endeavors which could be other sources of income. Instead of just allowing the savings to rest in a bank and earn a small amount of interest per year, it would be wise to allocate some of the money and other resources into a business. Of course, it may prove unproductive and detrimental, but the allowance of such funds to different paths of productivity would widen the scope in which a person could determine and discover the best way to manage and have more money to alleviate the status in society.

Investing does not only mean having to go into a business venture but also in being able to become a stockholder, no matter how small into an existing business. Being a stockholder and becoming a part owner of a running business puts a person into a profit-oriented state by having a percentage of the earnings that the said business generates. Nevertheless, the risk of losing the capital used for this investment is as significant as having a self-owned one.

The 3:3:4 Paradigm

This paradigm considers that all the other utilities and monthly bills have already been paid and the amount left is the extra money that is left available. Most people probably would not be lucky enough to have this, or if possible, just with a tiny amount. Still, no matter how small the amount is, it is a good start. The 3:3:4 paradigm means that 30% of the free money is to be saved in the bank, 30% is then used to allocate for the investments of choice, and the remaining 40% is assigned to the leisure and luxury of the household. The last aspect is essential to provide a sense of reward for the earner to clear the mind of burden and discouragement.

These aspects, when combined, are often effective ways to manage money and not be burdened of having to earn money to pay off previous debt. This would be helpful to the wage earner to look forward to an increasing pace of living rather than retroactive maintenance.

We hope this information was beneficial. You can have anything you want if you are enthusiastic about putting in the time, effort and plans to get to your goals. Discover the secrets why the rich stay rich and the poor stay poor. Click Here to view a video with more life tips!

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Manage Money with A Tight Budget

Often, the average salary earner garners just enough money to support and be on a break even with the numerous bills and fees presented to him. There is a common misconception of having to manage money with a tight budget in terms of being given the image of incapacity or lack of capability. However, in an optimistic point of view, having to manage money with a tight budget brings out the good qualities that a human being has in order to survive and exist in harmony with the demands of society. This only requires self-reflection and responsibility to focus on self-needs and thinking.

Tight Means Availability

Having a tight budget would mean that we are able to discern what things are available to us and allows us to properly identify and rank the things we need instead of what we want. In addition to that, we can choose and deliberate on the better benefits that we would be getting from choosing a better alternative than the one we would normally want.

The resources and basic needs of a person are already available in the society. Even as simple as the simple grocery items that we need for the maintenance of our homes is marketed in different brands and their respective offers. All we must do is know and understand the fine printing of each product and know what we really need at the right time.

Tight Means Better Responsibility

Having to deliberate on the hierarchy of needs we should be spending our hard-earned money brings out and develops our sense of responsibility. This responsibility ranges from the actual management of money for needs rather than wants and applies to the choices that we make to manage our existence. We are also developed into thinking about what we must do at certain stimuli presented to us. In this aspect, we learn to juggle and balance a very complex management system and practice perfection and efficiency from within.

Tight Means Better Management Practice

Being able to practice proper management would bring about a more efficient means of existing without much problems of having to look after things other than what we expected. For example, a credit card should be used to acquire things that are not accessible for normal acquisition or when an emergency is at hand. Still, having this power to have advanced “money” in the form of a loan does not mean that we should be using it as normal as if we had the actual money. Remember that this is borrowed money and therefore should be paid back. That is why sometimes a credit card is better left at home to lessen the chances of mismanaging money due to a subconscious thought that we can bend our budgeting anyway.

Tight Means A Means for Proactive Goal Setting

Human nature dictates that when provoked, a human fight back. This is a common and usual occurrence for any aspect that deals with human existence, including managing money for survival and living. When a human is presented with a tight budget, he is presented with a limitation that restricts his freedom. A normal response would be that the person finds ways in which to ease up a little bit of restriction one step at a time. This should ideally be the flow of thinking of proactive goal setting.

Have a plan of projecting yourself several years in the future and look at what you want and need, and plan. This also includes having to find ways of earning a bit more to add to the efficiency of productivity over time. Remember that the way to manage money with a tight budget is to look at it as a stepping stone to look for greener pastures, not as a wall to block your aspirations.

In closing, we invite you to share your comments on this and our other posts. If you find the information useful, please Like & Share us and subscribe to this channel for an update as we reveal new strategies. Remember to keep an open mind and Shift 4 Freedom.

Gas-Saving Trips for Vacation Season

Given the trending of gas prices toward ever-higher dollar amounts, many people are using more and more of their vacation budget on gas. While no one seems to be able to make gas cheap again, there are still some things you can do to help save on gas this vacation season. Here are some tips.

Slow Up, Speed Down

When you are on the road, going slowly up hills and more quickly downhill is said to save fuel. This is because your car must work much harder going uphill (especially if you are using air conditioning and have luggage and multiple passengers), whereas gravity is your friend going downhill and speaking of speed, observing the speed limit and not speeding also saves gas. It’s safer, too.

Know When to Turn Off the AC

While traveling in the heat without air conditioning can be downright dangerous, there are times when you can turn it off to save fuel. For example, turning off the AC when driving uphill can reduce the power pull on your engine by quite a bit, sources say. Of course, you can leave the fans going and the residual cooling effect lasts for a few minutes. When you’re on the level or going downhill, turn the AC back on.

Tires

If your tires are worn, get them rotated before your trip or, if they are very worn, get them replaced. Proper air pressure is said to be very important, too – look at the inside of the driver’s side door if you are unsure as to your tires’ PSI (pounds per square inch). Adding too much or too little air can both be a problem, so if you are in doubt, have your mechanic do it.

A Vehicle Check-up

Before your vacation, get your car thoroughly looked over. Make sure everything is running as efficiently as possible. Efficiency in your engine means greater efficiency on fuel usage. Have the oil changed, get a “tune-up” if needed, and have all the fluids checked in addition to any necessary work on the tires.

Travel Light

As mentioned above, a lot of excess cargo can really draw on the engine’s power. It’s said that every 100 pounds added to your car’s weight will decrease the gas mileage by 1 percent. So, try to be careful to use lightweight baggage carriers (such as duffle bags rather than heavy suitcases), and only pack necessities.

How You Drive

When you hit the accelerator pedal, that’s when your car is using the most gas. So, try to avoid the speed up, brake fast pattern that so many drivers fall into. Instead, try to coast at a continuous speed. Keep the ride as smooth as possible to save on fuel.

Top Tips for Traveling Responsibly on a Budget

Traveling responsibly on a budget can be an incredible challenge. Not only do you want to save money, but you want to do so in a way that respects the local country.

Here are a few tips to help you do this.

Start with Setting a Weekly Budget

Setting daily budgets while traveling is rather unrealistic. That’s because your expenses can fluctuate drastically.

Crossing the border from Laos to Cambodia might cost you $50, plus $40 for the visa. If that went into your daily expense, that’d mean you couldn’t eat or sleep that day.

Instead of using daily expenses, use weekly expenses. If you have high expenses one day, compensate by lowering your expenses on a different day.

Make sure you’re tracking your expenses while you travel. It can be very tough to keep track of everything but do your best to write down everything you spend when you spend it.

Eat at Small, Local Shops

Eating at small local shops is a great way to save money and support the local economy.

In most major tourist destinations today you’ll find KFC, McDonald’s and other major chains. You’ll also find many upper-class restaurants and many restaurants that sell Western food.

By and large, however, these restaurants are much more expensive than just eating local foods. They’re also often owned by foreigners or global corporations.

Beware of Waste

You can save money and travel responsibly by reducing the amount of waste you produce.

Try to buy as few water bottles as possible. Refill wherever you can find clean water.

Trade books with other travelers rather than buy books. Most hostels and guesthouses have book trade shelves set up, which makes it easy to find interesting reads along the way.

Try not to print anything unless it’s necessary. Get maps from hostels or hotels instead of printing them yourself.

Get to Know Locals

Getting to know locals is not only fun – but it can also save you a lot of money.

Locals don’t eat at the same places that tourists do. They eat at little-known places that taste great and cost half the price.

It’s very difficult to find great places to eat and shop when you’re in a different country. Anything that’s written about in guidebooks is likely to be overpriced and will surely attract people just trying to sell to tourists.

Instead, have a local show you all the most amazing places that nobody else has discovered. You’ll get the real scoop on what it’s like to live in that city.

These are a few different ways you can stick to a reasonable budget while interacting responsibly with the culture and people.

Your Guide on How to Be Debt Free

Debt is something many people all over the world struggle with, and many want to know how to be debt free. Today you can’t afford to spend cash on everything, and sometimes you must use a credit card or get a loan. But if the unexpected happens and you’re unable to pay back those debts it can spiral out of control.

An illness, some time off from work or even an unexpected household repair that requires you to use your credit card can all be reasons for you to find yourself with more debt than you can handle.

There are many options available to you such as debt counseling services, debt consolidation, and even bankruptcy. But before you do anything that drastic take some time to try to fix your debt situation on your own.

It is possible, even without adding income, to pay off your debt. It will take time and it will take discipline but if you are committed to living a life without any debt you can do it.

Below is a step by step plan that will help you to get rid of all your debt. It isn’t a quick fix, but it’s realistic and has worked for thousands of people, and it can work for you too:

1) Make yourself a detailed list of all your debt. Add everything, even the smallest of debts should be added to this list. This list should include your monthly household bills (such as house payments, insurance, utility bills, etc. etc. etc.) in one column and your debt in another column.

2) Make a very detailed budget for all your monthly expenses. Be sure to have enough so you can make at least the minimum payments on all your debt.

3) From the lists, above pick the smallest debt as your target. Pay as much towards this debt as you can without cutting payments on your other debts. Once you manage to pay off this debt completely, take that money and apply it to the next smallest debt. Keep doing this again and again until your debt is all paid off. Doing this will allow you to pay off all your debt, even if you can’t get extra money coming in.

This method works, it just takes discipline. You’ll have to make sacrifices if you want to be debt free. That means making a reasonable budget and sticking to it. But if you stay disciplined, and keep at it, you will eventually find yourself out of debt which will bring you peace of mind and will make all the sacrifices seem worthwhile.

You can have anything you want if you are willing to put in the time, effort and plans to get to your goals. Discover the secrets why the rich stay rich and the poor stay poor. Click Here to view a video with more life tips! In closing, We invite you to share your comments on this subject and the other posts. If you find the information useful, Like & Share us on Facebook, Google Plus and other social media platforms. Remember to keep an open mind and Shift 4 Freedom.