Finance

100 Money Saving Tips: Part 2

Saving money is one of the important thing for me and many parents I know. Here is a list of 100 more steps to take. Each of these tactics are simple little moves you can make to improve your financial situation. Some of them take just a few minutes, others might take an hour or two, some of them require a bit of regular effort, but they’re all incredibly simple – anyone can do them. Each of them also save significant money, especially over the long haul, and when combined together these tips can save you a lot of money… Continue reading

100 Money Saving Tips: Part 1

Saving money is one of the important thing for me and many parents I know. Here is a list of 100 more steps to take. Each of these tactics are simple little moves you can make to improve your financial situation. Some of them take just a few minutes, others might take an hour or two, some of them require a bit of regular effort, but they’re all incredibly simple – anyone can do them. Each of them also save significant money, especially over the long haul, and when combined together these tips can save you a lot of money… Continue reading

How To Have Right Money Mind

My two oldest children are in elementary school. They have a wide range of classmates from different ethnic, political, social, and economic backgrounds in their class. There are children of college professors in the classroom right next to the children of migrant workers of immigrants.

Children in early elementary school are enormously influenced by the ideas of their parents, but the importance of the ideas of their friends and classmates is rising as well. The result of that is that children of that age bring home all kinds of strange ideas and questions from school, questions and ideas generated by… Continue reading

12 Reasons You Should Have a Budget

THE RATIONALE AND PROCESS OF BUDGETING: Budget can be dreaded word for some, but it does not have to be. Here are twelve good reasons to get you started on your path to budgeting or I like to call it, spending plan.

1. Family budgets are used as a baseline, analysis-tool and roadmap. It is a useful tool and guide. It tells you whether you are headed in the direction you want to be headed in financially. It helps you to move from spending to saving and good fiscal balance, management and responsibility.

You may have goals and dreams, but… Continue reading

Understanding Family Budget

What is the family budget again? It is a pro-active, hands-on approach, focused, technical and disciplined strategy to getting a handle on the current financial situation in the home and family,

It concerns setting realistic, SMART financial goals for the household, sticking to it, celebrating successes, learning from failures and trying again if you do not succeed or get it right the first time round .It is about shifting focus completely from a mainly spending to a savings orientation. Cash and money-management 101 for everyone!

We have laid out what a family budget is, does and affects. A brief mention… Continue reading

How to Start a Budget: Setting Up Process

To get us started and in order to set up a monthly budget,  follow these five easy steps:

Step one:         find out your monthly take-home pay

Step two:         find out what your expenses are

Step three:       find out how much you spend on each expense

Step four:        see if your monthly expenses match monthly take-home pay

Step five:         Balance your budget. This means in your family budget… Continue reading

Household Budget Guide: Part 2

This is second part of setting up household budget, if you have not read it yet, please check out: How to Set up Household Budget Part 1: By clicking here.

11: A family budget is a learning tool and process to empower individuals and families to better self-manage their financial resources, spending, cost cutting and household finances. In general

You will be able to set-up your own personal or family budget.

By tackling the skill and mastery of smart budgeting, you will have a greater understanding eventually of exactly where and by how much, you need to adjust expenses to… Continue reading

Household Budget Guide: Part 1

Then let us get started, together. There are lots of practical suggestions for setting up a family or household budget.  We will never be able to cover them or the mechanics and intricacies all here at once. You will however continue to find in these pages valuable insights and tit-bits to help you pursue better fiscal management and cash flow, budgeting in general.

It is all about making your dollar go further.  Investing in the time and effort that it will take to get to that point of  greater financial security and possibly even have a surplus… Continue reading

Dealing With Debt And Credit Issues

Normally we use credit cards for a variety of good reasons, like convenience, business expenses, online commerce, instant accountability, unexpected bargains or expenses, medical and or other emergencies.

There are however, also very definite situations where plunging yourself deeper into debt is not a good idea at all:

  • An expensive item you know you cannot afford (indulgence shopping). If you do not have the cash funds to purchase it, charging it is not going to make it easier for you to pay it! By putting it on plastic you just racked up the price and interest charges. Your budget will… Continue reading

Cash Flow Managment and Debt

Strategies for debt and cash flow management in a family budget include:

  • Consolidating all consumer debt (that is everything you owe, except for your mortgage) and making it a priority to pay it off in a timely fashion, getting reduced rates and maximizing your effort in wiping the financial slate clean.
  • Paying off high-interest credit cards first
  • Use a line of credit if you can as the interest rates are typically lower
  • Suspend any kind of spending on any credit card and establish good habits paying in cash for purchases
  • Use all store-based cards wisely or not at all, if… Continue reading

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