finances – Personal Growth Cafe

June 24, 2019March 23, 2018

How to Augment Your Income During the Financial Crisis

We all know how bad the economy is right now; people everywhere are losing their jobs and many are even losing their homes to foreclosure, but this doesn’t have to happen to you.

You can boost your income and protect your family during the financial crisis!

Go Above & Beyond

One way to protect your job is to bring more value than what you’re being paid.

In other words, help the company make more money than what they’re spending on you.

When your boss recognizes the value you’re bringing to the company, it will decrease the chances of losing your job.

Here are some ideas of boosting your value:

1. Save the business money. Find ways to cut expenses and eliminate wasted time and resources.

Chances are, you can lower the company’s costs significantly with just a little research.

2. Work more efficiently at your job. Make full use of the tools available to you so you can increase your productivity.

For example, create templates and step-by-step instructions to follow, that way repetitive work is systemized.

3. Help your company become paperless. In this age of technology, just about everything can be done electronically.

Since most companies have computers and scanners, utilize them to their fullest.

Also, by reading emails on the screen, instead of printing them out, you will cut the company’s use of paper drastically.

Think of other ways you can help your company cut down on the amount of paper it uses and introduce them to your boss or CEO.

By taking this initiative, you’re showing just how indispensable you are.

4. Help market your company to the world. The use of social media is fast becoming the leading way to market a business.

Social networking can be done from home and in your spare time.

Be sure to let your boss know that you’re doing this, not only to get their permission, but because doing so increases your value to the company and shows that you’re a valuable member of the team.

Get active on popular social networking sites like Twitter and Facebook.

Set up a Twitter account to connect with thousands of people that need your products or services.

You can also offer a “deal of the day” coupon code for Twitter or Facebook users.

You can use your skills and talents to expand your income in other ways:

If you’re a teacher, offer evening tutoring services.

If you know a lot about a specific subject area, start a consulting business.

If you’re an artist or make crafts or jewelry, sell them on eBay or Etsy.

If you love to write, sell your article writing services to online businesses.

Start an online business from home. There are a thousand ways to make money online, using the skills you already have.

Do a search using the terms “how to start an online business from home.” The results will bring up tons of tutorials and guidelines.

If you have stuff lying around your house, cluttering up your countertops, bookshelves and closets, sort through it and sell it on eBay.

You’ll be surprised at what people will pay for something you consider junk or useless.

These are just a few ideas to get you thinking about how you can increase your income during these tough financial times.

As you begin to brainstorm ways to put more money in your pocket, you’ll soon see how simple it can be to add an extra few hundred dollars – or more – to your income every month.

You may even find that you have skills that you didn’t know you had in the first place, which can lead you in a whole different direction in your life or career.

You don’t have to let the economy take control of your life.

With a little effort and some brainstorming, you’ll find ways to supplement your income and overcome this financial crisis we’re in.

How have you taken full control of your finances?

What helps you keep your finances stable?

Talk about that in the Personal Growth Cafe Community!

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June 22, 2019March 23, 2018

How to Keep Your Cool During the Financial Meltdown

Everywhere you go, you hear about how awful the economy is, but you don’t have to let all the talk of our country’s financial meltdown get you down.

You can keep your cool.

Don’t let fear of the future take control of your mind and emotions.

When we live in fear, we make bad decisions, think irrationally, and are in a reactive mode.

Living in fear actually makes the situation far worse.

To help overcome the fear of your financial future, here are some proactive things you can do:

1. Turn off the news. Why would you want to listen to bad news over and over?

We already know the state of the economy, so listening to a news reporter talk doom and gloom all the time isn’t necessary.

2. Ensure you’re on a budget and living within your means. If you need to cut back, then find ways to do so.

There are many, many ways to reduce the cost of living with a little planning and effort. Here are some examples:

Reduce your cell phone bill

Get rid of your land line if you have a cell phone

Shut off the cable (who needs it anyway?)

Turn off the lights and unplug electronic devices when not in use

Turn your thermostat down in winter and wear sweaters to keep warm

Open windows in the summer instead of turning on the air conditioner

Use coupons and shop for the weekly sales at your local grocery store

3. Plan ahead by setting up an emergency fund. Of course, this involves living on a budget so you can save enough money from your income for emergencies.

An emergency fund is usually a minimum of $1,000 in savings at all times and is used for emergencies only, like unexpected vehicle repairs or medical needs.

If you can afford more, then save more!

4. Plan for the future by getting rid of debt and using cash only. Again, this requires living on a budget, but it can be done.

How to Budget in a Recession

Since we’re talking about budgeting so much and it’s the best way to keep your cool during the financial meltdown, let’s talk about ways to set up a budget and reduce debt.

1. Figure out your income after taxes.

Know what you’re bringing in each month so you can determine how much you have to spend.

Sounds obvious, but why is it so common for people to spend way more than they make?

Far too often, people don’t know how much they really make, nor where the money goes!

2. Make sure your living needs are met. These things include your house payment, utilities, food, and property taxes.

3. Next, make sure your transportation to get to and from work is taken care of.

Things like your vehicle payment, gas and maintenance.

This is one area you may be able to cut back on as well.

If you’re making a car payment, try to sell the car and buy a used one with cash.

You may also want to consider taking public transportation more often.

4. Pay off credit card debt. Start paying off the card with the highest interest rate first.

Once that card is paid off, put your payments toward the card with the next highest interest rate and so on, until each card is paid off.

You may also want to contact a financial planner to discuss consolidating the debt to make it more manageable.

5. Once your credit card debt is paid off, begin putting all the money you were paying out into savings.

The goal is to build your savings up to at least 6 months worth of income in case something happens, like job loss or disability.

By following the steps above, with diligence and determination, you can be debt free and survive the financial meltdown!

Of course, this won’t happen overnight and you’ll probably have to adjust your lifestyle so you can live below your means, but doing so will help secure your future financially.

How do you stay calm when everyone else seems to be stressed out?

How can you continue to have peace of mind during a time of crisis?

Talk about that in the Personal Growth Cafe Community!

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June 17, 2019March 23, 2018

Overcoming Financial Strain

Financial strain is probably the biggest cause of stress, especially in today’s economy.

With so many people losing their jobs, just trying to make ends meet can cause added stress to your already stressful lives.

The good news is that there’s a way out!

Map Out a Plan

If you are not on a budget, you must get on one.

I know the word budget seems like a bad word, and it does require effort and planning, but it is the best way to relieve financial stress.

Living on a budget means you’re in control of your money, instead of your money controlling you.

There are many classes or programs specifically designed to teach you how to budget if needed.

Simply do a search online using the terms “how to live on a budget” or “budgeting” and you’re sure to find one that meets your needs and is easy to use.

The key to sticking to a budget is making sure it’s easy to implement.

Ask your friends and relatives what budgeting plans or programs they use and do a little research before deciding on one.

But whatever you do, choose something!

Good Food at Great Prices

Another area where you can save money is at the grocery store.

By using online and paper coupons, as well as flipping through the weekly flyers, you can save hundreds of dollars every month!

Again, this takes some planning, but it will help relieve a lot of financial strain.

Knowing how much you spend on eating out may be a shocker to you.

Cut back on restaurant food and plan more meals at home.

You’ll be surprised at how much money you’ll save and you may even lose a few pounds!

Review Your Automatic Payments

Cutting out automatic payments from your spending will also help you be in control of your money.

Look at any programs or services that you’ve subscribed to that automatically takes money from your account.

You may find some you never use that you can cut out. Or perhaps there are better deals to be had elsewhere, so do your research!

Choose Used

One of the best ways to reduce your expenses is by driving a used car.

If you’re making a car payment, you’re throwing away money that could be better used elsewhere.

If it’s possible, sell your car, pay it off, and buy a used car with the cash that you’re saving on monthly payments.

You may have to give up a little pride, but reducing stress and financial strain is far more important than pride!

Tips to Reducing Financial Strain in Your Life

Other ways to overcome financial strain is to supplement your income.

You can do this in a variety of ways. Some of them you may even find fun!

De-clutter your home of “stuff” by sorting through and selling it on eBay, Craigslist, or Kijiji.

Clean out your shed or garage and have a yard sale.

Sell arts and crafts or jewelry on Etsy or eBay.

Start an online business using skills you already have.

If you’re a good at a particular subject, start tutoring or teaching music lessons.

If you’re a golfer or skier, get a second job at a resort or golf club.

This will not only bring in extra income, but they probably offer discounts to employees, saving you money while still being able to enjoy something you love.

Get a second job that offers flexible hours. Use the extra income to pay down debt or start saving for your emergency fund.

Having a plan, sticking to a budget, and increasing your income are the best ways to overcome financial strain during these tough economic times.

If you’re diligent and determined not to let today’s economy stress you out, you’re sure to succeed!

How do you deal with financially tough times?

How does this make you feel about how you are living your life right now?

Talk about that in the Personal Growth Cafe Community!

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June 16, 2019March 23, 2018

Seven Ways to Save Money Without Sacrificing Your Lifestyle

Are you looking for ways to save money, but don’t want to sacrifice your current lifestyle?

You’ll be surprised at how many different things you can do to achieve this.

Below are just a few ideas you can utilize to start saving money during these rough financial times:

1. Eating Out: For some people, eating out is one of their biggest variable expenses, but you can still save money without sacrificing your lifestyle.

You can often find restaurant coupons in the paper or online.

You can also cut your bill in half by sharing a meal.

We all know restaurant portions are huge and can probably feed at least two people.

Cut down on the amount of food you eat and save money by sharing a meal with a friend or spouse.

2. Gas: There’s several different ways you can save money on gas by simply thinking about how many unnecessary trips you take and planning fewer trips where you can.

This is where planning your day and clustering errands into one trip is key.

Also, if you have more than one driver in your family, the person who drives the furthest to work or school should use the most fuel-efficient vehicle.

It sounds obvious, but that’s because it is!

3. Consolidating Payments: Often your lender or bank will give you a loan to help reduce your monthly costs and interest payments.

If you can’t get a loan, see if you can transfer your high interest balances to a lower interest credit card.

If you have high interest credit cards, one of the smartest ways to reduce debt is to negotiate those interest rates.

4. Cut Out Unnecessary Fees: There are often hidden fees on credit cards, bank loans, and bank accounts that you may not be aware of.

Be sure to read the fine print before signing any contracts.

You’ll also want to check your monthly statements for any fees that you may not be aware of and call to complain if you spot anything funny.

In addition, avoid bouncing checks and cash advances.

Both insufficient fund fees and cash advances are probably one of the largest money suckers, but the easiest to avoid.

Being in control of your money and knowing where it’s going will help you save money on unnecessary fees.

5. Budgeting: You need to know how much money you have coming in and directing the money where you need it to go.

Budgeting means being in control of your money instead of your money controlling you.

When you’re on a budget, you can actually save money without losing the lifestyle you desire.

6. Gym Fees: Belonging to a gym is a helpful way to lose weight and stay in shape; however, the fees can be very costly.

Besides, you can still stay in shape and get great workouts at home, while saving tons of money.

Workout DVDs (or even free videos on YouTube) cost a lot less than a monthly gym membership and there’s a huge variety to choose from.

If you use the gym and it’s keeping you healthy, than it’s a good investment.

After all, your health is important.

But you should also be realistic with your workout expectations, meaning, if you haven’t gone for months, you’re probably not going to go all of a sudden, so you’re better off cancelling the membership.

7. Groceries: If you’re like most, your grocery bill is one of the biggest bills you have, next to house payments.

You can cut this bill by hundreds each month easily.

A little planning and effort is all it takes.

Using online and paper coupons, in addition to your grocer’s weekly sales flyer can cut your grocery bill by 25 to 30 percent.

The average family of four spends over $700 a month on groceries.

By using coupons and shopping the sales, you can save over $200 a month on groceries.

Couldn’t we all use an extra $200 a month right now?

Here are some other ways of saving money without sacrificing your lifestyle:

Turn off lights when not in use.

Open windows instead of turning on the air conditioner.

In the winter, wear sweaters to keep warm and turn down your thermostat.

Turn the water off while brushing your teeth.

Take showers instead of baths.

Unplug any electronic devices when not in use.

Finding a better way to enjoy the activities you love will not only save money, but will also reduce financial stress so you can maintain the lifestyle of your dreams!

How do you feel about your current lifestyle?

How have you adjusted your lifestyle based on the finances you have?

Talk about that in the Personal Growth Cafe Community!

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