Money – Page 3 – Personal Growth Cafe

October 20, 2018February 15, 2018

Step-by-Step Ways to Plan a Budget

Using a budget is one of the best ways for you to determine where you stand financially so you can plan for future expenses.

A budget can help you live within your means, get out of debt, and have money available for a new car, vacation, or education.

Planning and using a budget doesn’t have to be complicated.

Plus, once you’ve put your budget into place, it makes spending decisions a snap.

Here’s how to plan your budget, step-by-step:

1. Set goals. Before you begin to plan, it’s important to know what your financial goals are.

Do you want to save for a new home?

Have you always wanted to travel overseas?

Are you thinking about your children’s educational future?

Write down your family’s financial goals and post them where everyone can see them.

This will help you all remain focused on reaching your goals rather than giving in to temptations to buy things you don’t need.

2. Determine income. Figure out how much money you currently have coming into your home.

It’s hard to establish a budget if you don’t know how much money you have at your disposal. This would include:

Employment income for each family member contributing to the budget

Interest earned from money markets, savings accounts, or investments

Inheritances

Any other form of income

3. Figure out your expenses. Write down your family’s expenses.

Listing each bill will help you determine how much money you need to earn each month to reach your financial goals.

List every bill your family has regardless of how often it’s paid.

Group expenses together (insurances, credit cards, etc.) to make them easier to calculate.

Include cash for each day, such as money for gas, lunches, tolls or parking.

4. Include savings. Remember to pay yourself!

Instead of waiting to determine what money is left after paying the monthly bills, include your savings account as a bill and pay it just as you would any other expense.

5. Subtract expenses from income. Add together all income sources and then add together all expenses.

Subtract the expenses from the income, and this will tell you what financial shape your family is in.

6. If your income is greater than your expenses… If you have money left after paying the bills, you may choose to do one of the following:

Put additional money in savings.

Invest the money with the help of a financial planner.

Pay off credit cards or other monthly credit accounts so you can get out of debt.

7. If your expenses are greater than your income… If your expenses are more than your income, you have some decisions to make.

They may not be pleasant, but if you want to get out of the avalanche of debt, changes are necessary.

Here are some changes you may want to make:

If your home is too large for your family, you may want to downsize into a home with cheaper payments.

Do you have, and do you need, more than one vehicle?

If two or more cars are necessary, by all means keep them.

However, you may be able to buy vehicles that are cheaper to own and maintain.

If all the cars aren’t necessary, why not sell the extra ones?

Avoid eating out. You may not think eating out is that expensive, but a family of four can easily spend $40 or more each time they eat out.

That same amount of money can buy groceries for several meals, instead of just one.

Put a hold on credit card spending.

Either cut your credit cards up or put them in a plastic bag filled with water.

Place the bag in the freezer and leave it there.

As you’re able to pay off one credit card, close the account.

Then use the money you spent each month on that bill and add it to your payment for the credit card with the next highest interest rate.

This process accelerates the elimination of your debt.

It’s possible to create a budget you and your family can live with.

By following these step-by-step instructions for planning a budget, you’ll be taking a financial step in the right direction.

Stick to your budget, and before you know it you can be out of debt and saving for something special!

How much of your budget goes to things you want?

How does proper budgeting bring joy to your life?

Talk about that in the Personal Growth Cafe Community!

Also, as your gift for taking this to heart – and this is profoundly important… to us ALL – go to UnitingPlanetEarth.com/ignition/ and do the Uniting Planet Earth 7-Day Quick-Start Ignition Program… and Allow it to Transform Your Life.

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July 27, 2018January 8, 2018

There is a time and place to review my finances.

My life is ruled by order and balance.

When I must review my finances, I have a designated time and place where I do my budget.

As I close my budget books, I also shut down any overwhelming thoughts about money.

At the beginning of every month I sit down and calculate my budget.

Each week I spend just a few minutes paying bills and making sure I am on track.

My savings account grows as my debt is eliminated.

My mind is not stuck on my bills. Instead of thinking about my finances, I am confident that I am managing my money wisely.

Thinking about bills and money does not help in any way. It only hinders me from making more money and enjoying my life.

I forgive myself for any poor decisions I might have made in my past.

I accept the things that I cannot change and I work to change the things that I can.

Armed with a plan, I know that I am headed for prosperity.

There are so many better things in life for me to think about.

I enjoy thinking about my family or my hobbies and I do not give negative thoughts the opportunity to develop in my mind.

When worries try to overtake me, I remind myself that I am not alone.

I can learn how to relax and trust that all my needs are taken care of by someone much bigger than I.

Money is not my source of life. My source of life is much greater than anything money can buy.

When is your designated time and place to review finances?

What other things can you think about besides your finances?

Talk about that in the Personal Growth Cafe Community!

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June 12, 2018March 1, 2018

The money in my checking account cannot replace the joy, love, and happiness in my life’s savings.

I am thankful that I have money and that I can use it to provide for my family.

But money itself will never fulfill any need that I may have.

My deepest needs are met by my loved ones.

I appreciate my money and I know how to use it wisely. I use it to finance the better things in life.

The best things in life are not things; the best things in life are relationships.

I am not in a relationship with money. I do not love money nor do I hate it. Money is simply a tool.

My life is rich with joy and my joy is contagious.

My positive attitude allows me to draw joy from various sources.

I get joy from watching children play and laugh and I am filled with joy when I see rays of sunlight peeking through the clouds.

Love is an integral part of my life. I am worthy of love and I know that I am deeply treasured.

Unconditional love is the best gift I have received.

To know that my faults are forgiven and that I am loved in spite of them is to experience genuine happiness.

Reflecting over my life keeps me aware of my blessings.

There are many memories that make my life great and I make a point of it to preserve my memories through photos and journals.

I have a beautiful life!

It does not matter whether my checking account is full or empty.

Love, joy, and happiness belong to me.

Whether I gain the world or lose it all, I know what my real treasure is.

How do you preserve good memories?

What is your real treasure?

Talk about that in the Personal Growth Cafe Community!

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April 6, 2018January 7, 2018

As I adjust my spending habits, my financial situation improves.

My expectations for getting rid of debt and building wealth are reasonable.

I know that it takes time to repair my finances and I am willing to invest that time in order to move beyond my debt.

Making sacrifices is a major part of improving my financial situation.

I am willing to give up some of the things that I desire right now in order to afford a better future for my family.

When I shop, I bring a list with me in order to buy only the items that I need.

I am free from the pressure to compete with others.

I am grateful for what I have because my Creator has given me all that I need.

I have a plan for my financial future that involves me building sustainable wealth for my spouse and children.

The passion I have for my financial goals helps me stay the course.

When I am tempted to make an irresponsible purchase, I remind myself of my goals and exercise restraint.

My finances continually improve when I seek ways to cut unnecessary costs.

I spend time each day reflecting on the driving force behind my purchases.

I eliminate greed and competition from my heart by being grateful for what I have and giving to the less fortunate.

Today, I am improving my finances by refraining from unnecessary spending.

I use my creativity to look for ways to save money knowing that the sacrifices I make today will be well worth it tomorrow.

Who can help you be accountable for your spending?

What do you want your financial situation to look like one year from today?

Talk about that in the Personal Growth Cafe Community!

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March 28, 2018January 7, 2018

I envision myself debt-free.

I envision myself debt-free, owing nothing to any man or institution.

My books are in order and my accounts are balanced.

I know that I can be free from debt because I am committed to my plan and I am responsible enough to make it happen.

I take pride in making sure that my family’s financial future is safe.

I am working toward leaving my children an inheritance of blessings, instead of financial ruin.

The steps I am taking today will ensure that my family will be free from the burden of debt for generations to come.

The way I spend my money is a direct reflection of my priorities therefore I strive to invest in things of value and refrain from insignificant purchases.

When I want to buy something, I wait until I have saved enough money to make the purchase instead of buying on credit and acquiring more debt.

I have the ability to pay off all of my credit cards and loans by sending extra payments whenever I have surplus in my budget.

When I pay off a debt, I stay away from new debt; instead I use the extra money for my savings and wealth building.

Temporarily, I have to make difficult cut backs in my spending in order to pay off my debt.

I am simplifying my life and finding joy in things of true value.

I refuse to accumulate more debt because I work hard for my money and deserve to be debt-free.

Today, I choose to be wise in my spending in order to be free from financial burdens. I see myself without debt; free to invest in my dreams.

Free to give to others.

What is your plan for becoming debt-free?

How can you spend more wisely?

Talk about that in the Personal Growth Cafe Community!

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March 12, 2018January 7, 2018

Do not hire a man who does your work for money, but him who does it for love of it. – Henry David Thoreau

March 9, 2018January 7, 2018

How to Create a Wealth Mindset

Wealth creation all starts with the mind.

If you have an abundance attitude and wealth mindset, you’ll be able to attract the financial success you deserve!

While there are many paths to wealth, once you discover the abundance mindset, you’ve set yourself up for actually achieving your dreams.

But how do you create this mindset in the first place?

Here are some techniques that will help you develop a wealth mindset:

1. Visualize your goal.

It’s not enough to just say you want to “be rich.”

You have to make the conscious decision to create a clear goal and visualize all the details.

It’s best to focus all of your energy on one thing rather than spreading yourself too thin.

2. Be specific. Break down your goal into minute details and start thinking about the exact steps you need to take in order to get there.

3. Break up the plan. The goal seems huge at first, but once broken down into smaller, more manageable steps, it doesn’t seem so bad.

Focus on each individual task that you need to complete, and then congratulate yourself once you achieve each step.

4. Take action. It’s easy to get caught up in the daydreaming and planning phases of your goals, but action is what it takes to get you there.

Your dreams become realities with action; otherwise they’ll just remain dreams forever.

5. Seek a mentor. Sometimes people are tempted to go at it alone, but you’re not alone in this world!

There are many out there that would like to see you succeed and it’s your responsibility to find these like-minded people.

Perhaps a business mentor or life coach may be just what you need to give you that extra push.

6. Focus on your thoughts.

If you’re experiencing confidence issues, it’s important to take time to focus on your thoughts.

Do you really believe that you can achieve wealth?

Are negative thoughts holding you back?

If necessary, remind yourself that wealth is possible and that success is a very real possibility for you as well.

7. Believe you deserve it. Believe that you are worthy of achieving wealth.

If you don’t think that you deserve it, you may unconsciously set yourself up for failure.

In turn, you may actually become the roadblock that prevents you from the wealth you deserve.

Believe In Yourself

Do you truly want wealth?

Then be willing to follow through on your action plan while maintaining a positive attitude.

In life there are plenty of snags in the road and your path to wealth won’t always be easy.

If you maintain the perseverance to achieve, you’ll be more willing to seek solutions and find success.

Remember that you have to start somewhere.

Take the time to truly appreciate your progress.

So for example, if you’ve doubled your salary, that’s a huge feat to be celebrated!

While you may not be rich yet, you’ve made progress on the way to wealth.

Keep focused on your goal and you’ll continue to build an unstoppable momentum.

How important is wealth in your life?

How has wealth brought you happiness?

Talk about that in the Personal Growth Cafe Community!

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February 25, 2018January 5, 2018

Lack of money is no obstacle. Lack of an idea is an obstacle. – Ken Hakuta

February 25, 2018January 5, 2018

Eight Tips to Improve Your Credit Score

The first step to improving your credit score is to obtain a current copy of your credit report.

Once you have something to work from, you’ll know where you stand and you can take action to improve your credit and raise your score.

There are many systems and companies out there that’ll advertise a “free” credit report, only to enroll you into other paid programs or recurring memberships.

These paid programs may benefit you, but read the fine print to ensure you’re getting only what you need.

Here are some tips and techniques that can help you raise your credit score:

1. Keep some unused accounts open. Closing unused accounts is a common myth when it comes to improving your credit score.

In fact, closing accounts can actually hurt your score.

Why?

Because a part of your score is calculated by determining how much debt you have versus how much available credit you have.

If you close out your available credit, your debt becomes a larger percentage of the credit available to you and may lower your score.

2. Spread out your debts. You can improve your score by spreading your debt among credit cards even if your debt remains exactly the same.

This is because a credit card that’s almost maxed out is more likely to be detrimental to your score.

Consider transferring that balance to one or more other credit card accounts.

3. Pay on time. This is an obvious tip, but one that’s still worth mentioning. Make sure you pay all of your accounts on time.

Even one slip up may affect your score.

If you have trouble remembering to pay on time, consider setting up some kind of reminder.

You can even set your accounts to automatic bill payment through your banking service.

4. Avoid applying for too many cards.

Your score can be affected if you fill out too many credit applications over a short period of time.

While you can acquire multiple cards over time, it’s just not a good idea to sign up for too many of them at once.

This makes you look desperate for any kind of credit.

5. Watch out for scams. It’s so easy to fall victim to a scam these days.

Some scammers are so creative and seem so trustworthy that even the smartest people can be drawn into their scams.

If you want help with debt consolidation, consider contacting the government. Don’t trust any independent company without lengthy research.

6. Use credit occasionally. Even if you prefer to use cash, you should still have at least one credit card account that you use.

When it comes time to use credit, no credit can be just as detrimental as bad credit.

Chances are you’ll want some good credit eventually, especially when it comes time to purchase cars or homes.

7. Be truthful and accurate. Don’t falsify any information when it comes to checking or applying for credit.

Also, double check your applications for any mistakes you may have made.

Any misstatements will very likely be caught, so it’s not worth the risk.

8. Check your score each year. You can check your credit score once per year without any penalty.

Take the time to stay on top of your credit. It’s such a huge part of your life – whether you like it or not – and it deserves your attention.

With regular checks, you’ll be the first to know if there’s something that needs to be taken care of.

Improving your credit score can save you a lot of money, time, and frustration.

Get in the habit of using these strategies and you’ll see that score going up as time goes on.

What impact does your credit score have in your life?

How can having a good credit score help you achieve greater joy?

Talk about that in the Personal Growth Cafe Community!

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December 5, 2017

Expect the Unexpected – Creating a Plan B for Greater Financial Security

Now more than ever, it’s important to secure your financial future. If the chips are ever down, you’ll at least have a plan to turn to for help.

It’s true that you should put your whole heart in your main source of income.

When you work hard enough with a drive to succeed, nothing will keep you away from that success.

However, unexpected circumstances come into play every so often, so you may need to divert to Plan B temporarily.

Here are some ideas for building a rock-solid Plan B:

Develop Multiple Streams of Income. When your main stream of income is sufficient to sustain your family, you may be tempted to rely on that income alone.

However, it’s always a good idea to insulate and supplement that income.

You may think you don’t absolutely need the money, but you can always save for future unexpected expenses.

Look for other opportunities for side jobs in your field

Turn a hobby into a money maker

Consider wise investments to grow money faster

Add to Your Savings. You’ll need to realize that even small contributions will add up to something big before you know it.

Shop around for a high yield savings account. Tell yourself that you’ll add a fixed amount to the fund each month.

Have an automatic withdrawal every month even if you can only afford $10 or $25 at a time. Over the long run this really adds up!

Develop Your Skills. Always be on the look out for opportunities to improve your current skill set, or to develop completely new skills.

This will give you back up career opportunities. If you pigeon hole yourself into one set career, you’ll be scrambling if something unexpected happens.

While it’ll still be a bummer if Plan A falls through, it’ll feel so much better when you can launch into Plan B without panicking.

Make Contacts and Establish Good Relationships. You’ve probably heard the saying: “Don’t burn your bridges.”

You truly never know when you might want to walk a certain path, so don’t close any doors hastily.

Also, remain open and make contacts wherever you can.

You might just be hanging out at the gym after work, but you never know what kind of friendship you can drum up, and how that person may be able to help you out in the future.

Write Out Your Plans. It’s vital to maintain a certain amount of organization in your plans.

When establishing your life’s Plan A and Plan B, it’ll really help to write everything down. Have separate lists for your short term and long term financial goals.

Cross off goals as you meet them. This way you’ve got a written reminder of your progress.

If Plan B comes into play, you’ll have written instructions and you won’t have to worry.

Making Wise Choices

When it comes down to deciding what you should do with your money, remember to always invest in some sure bets.

You don’t want to gamble with your money expecting greater gains. Your best bet is to find a middle ground.

Decide on a certain amount of money that automatically goes into a savings account and can’t be touched.

When you have a nest egg for unexpected life events, it gives you time to execute your Plan B.

If you’re lucky enough to have extra cash coming in, you can then decide to be riskier with your financial decisions.

As long as you know you have enough money coming in, it may be worth your time and investment.

Has finances caused you stress in the past?

How can managing your finances properly affect your daily life?

Talk about that in the Personal Growth Cafe Community!

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