Why Aren't You Rich Yet?

Whether you’re a business owner or simply somebody who is attempting to build personal wealth, you might be wondering why you’re not taking papery baths in tubs full of the green stuff yet. There are a few reasons this could be, which we will discuss in this post. Perhaps your mindset isn’t in the right place, or you’re making some fatal mistake that you don’t realize just yet. 

Read on if you want to know why you aren’t rich yet:

Your Mindset And Attitude Don’t Match Up

If you want to be rich, your attitude and mindset really need to match up with that. Would a rich person walk around talking about how rubbish their financial state is, and how badly they are struggling? No, they wouldn’t. This doesn’t mean you should ignore what’s really going on. It simply means you need to stop wallowing in it. Talking about it and really sinking into that depressing ‘broke’ feeling will only make things worse. 

Change your attitude to that of a ‘can-do’ and you’ll get far more done, helping you to overcome the obstacles in your way to getting rich. There are all kinds of books that back this up, such as Think And Grow Rich by Napoleon Hill, and Rich Dad Poor Dad.

You’re Wasting Time

Perhaps you’re wasting time in some way. You know what you’re good at, so you should be doing that. If you’re wasting time struggling through your accounts, then hire somebody else to do it. Not only will you be able to spend more time doing what you’re good at, you’ll minimize mistakes first time round. Not to mention, mistakes can be seriously costly. If you don’t want to hire a person, there are even programs that can do these things for you, such as accounts receivable software. When you automate and outsource these processes, you will spend more money initially, but in the long run you’ll be doing yourself a huge favor.

You’re Wasting Money 

Perhaps you’re wasting money. If you don’t have a budget, it’s almost certain you’re wasting money. If you're not working on where you can cut costs, you’re wasting money. Take a long hard look at where your money is going and figure out where you can cut back. The key to becoming rich is building wealth. You only build wealth by spending less and being sensible with your cash, not by spending as much as possible on fancy cars and gadgets. You may look rich to others this way, but you’ll be spending a whole lot of money on something that doesn’t actually serve you any more than a regular car!

You’re Not Diversifying 

One thing many wealthy people will tell you, is that you need to diversify. Make cash through different streams and you will eventually build wealth. If you can find ways to make cash while you sleep, that’s even better. What can you invest in? How can you make passive income? Attempt to diversify as much as possible!

Becoming rich takes time, but if you use these tips, you’ll get there!

Stacking Debt For Financial Freedom

From student loans to bank loans and credit cards, everyone has to deal with the dreaded D-word. Debt is enough to weigh a person down and make them do things they wouldn’t otherwise. How many people do you know who work jobs they hate just to pay the bills? Or, how many friends are tighter than cramp just to get through the financial month? The obvious answer is to release the burden and get out of debt. It’s the hallelujah moment every person seeks once in their life. Although there are no Hail Marys, there are methods which can help release the pressure.

This is how to relieve debt using the stacking method.

Stop Creating More

To be honest, this doesn’t only relate to the stacking method. Any technique you choose to reduce your expenses should start with this tip. Otherwise, you will spend your days paying off the minimum amount and will never chip away at the main body. An excellent trick is to force yourself to think before you spend. When you do this, it makes you analyse the decision and whether you need to make a purchase. Lifehacker.com goes as far as saying you should freeze or bury your credit cards. Then, the hassle of digging them up or thawing them out will make you think twice. 

Start With The Highest Rate

Debts aren’t equal, and some have bigger interest rates than others. The key to the stacking method is to find the highest rate and rank it at the top of your list. The reason for this is that this is the one you are going to deal with first. Logic dictates this to be the best move as the biggest rates create more debt and make it harder to reduce. Stepchange.org points out that all you have to do is look through the agreements or check your online banking.

And Lower It

Just because you’re going to pay off the debt with the highest interest rate doesn’t mean it can’t get smaller. In fact, reducing the rate is vital if you want to get out of the red. Plus, the other, smaller debts won’t escalate out of control either. If you have a credit card, moneysupermarket.com says you can move it to a 0% account. What you must do is research the card companies with the best deals, and don’t forget the small print. Barring that, a debt consolidation service is an option according to consolidatingdebt.co. By merging arrears, the overall rate drops and turns into a bitesize, affordable payment.

Celebrate Success

Don’t let your success go unrewarded. One of the best ways to stick to a plan is with high morale. By rewarding the good times, it encourages you to stay strong. Plus, it’s a bright light in a rather dark moment. To do this, make sure you track your debt. Then, when you hit a milestone, you’ll know it’s time to pop the bubbly. Well, as long as it’s on offer.

That’s the stacking method and how to pull it off. Hopefully, this technique will come in handy.

Aim High With An Excellent Credit Score

Credit scores are cloaked in an air of mystery. People think they know how to secure a high rating, only to discover that when they apply for a home loan or wish to take out a credit card, they are refused or have to make do with less favorable deals or rates. A solid credit score can open up financial doors that can make your life easier. 700 is the magic number and anything over 800 means you are considered one of the most responsible borrowers out there. Take a look at these simple ways of achieving the highest credit rating you possibly can.

Settle Down

If you require a strong credit score because you’re thinking of applying for a mortgage for the first time, it’s important that you have been relatively settled for the past couple of years. Lenders and credit referencing agencies don’t tend to look favorably on those people who have moved around the country staying at a different address every three or four months. This flightiness worries them because they feel it may be translated into your financial situation. Try and stay put for at least twelve months before you need to apply for any form of credit. This will enhance your credit score and make you seem less of a financial risk.

Pay Your Bills

Whether it’s an electricity bill, a cell phone bill or a credit card payment, you need to ensure that you cough up on time. A late, or worse still a missed payment or two or three, will ring major alarm bells and show up on your credit report. The easiest way to combat this if you’re not adept at managing your finances is to set up direct debits. This way, your payment will be taken out of your account without you having to lift a finger.

Get Your Debt In Order

Debt can be a good thing. If you are within 25% of your credit allowance, you’re paying above the minimum payment, and you only have one credit card, a credit referencing agency will view you as a responsible borrower. However, if you are stretched financially and struggling to keep up with your debt repayments, you need to think about venturing onto a site like consolidate.loan to investigate the option of merging your debts into one monthly repayment. Here, you’ll be able to check out the reviews of specialist companies that consolidate your debts for you making them easier to manage. As your financial health begins to recover, so will your credit score.

Keep On Top Of Your Report

It is now easy and cheap to check your credit score online. Register with experian.com and receive free notifications when there is a change to your credit report. By monitoring your credit rating, you will get a feel for the sorts of things that affect your score. You can also dispute the negative marks against your report if you don’t think they should be there and attempt to get them removed.

By following these tips and being aware of your financial situation, you will be able to strive for the highest credit score that you can reach.

Freedom Financial Could Help You Stop the Calls from Collectors

Tired of receiving call after call from debt collection agencies? You are not alone, in fact, almost one-third of all Americans have reported that collectors called them this past year. Sometimes the debt is legitimate, and sometimes it is not. Either way, there are steps you can take to deal with the calls. If the debt is yours, there are also measures that you can take to settle the debt for less than you owe, and clear it from your credit report. Freedom Financial offers this information to help you learn your rights and get your finances back under control.

Some of the Tricks Debt Collectors Like to Use

Debt collection is not a pleasant business, and collectors will use all sorts of tricks to get your attention. However, you can beat them at their own game if you know what to expect. Here are some of the more common tactics collectors like to use:

• Contacting your friends or family members – They are allowed to reach out to friends or family if you do not answer their calls. However, they cannot share any details about your situation and they cannot continue calling them once they have located you.

• Asking you for personal information – Once they have located you, collectors may try to get additional personal information from you such as your social security number or date of birth. By law, you do not have to share this information with them.

• Having you acknowledge the debt is yours – This is a trick that is especially used by collection firms that purchase your old debt from another collector. After a certain number of years (as determined by the state you live in) collectors can no longer attempt to collect. However, they can sell the debt to another agency. If a collector from the new agency contacts you and you acknowledge the debt, it could reset the clock on it.

FreedomPlus, one of the companies in the Freedom Financial Network, offers personal loans that could help you eliminate the debt so that collectors have no reason to call you.

When collectors do call, it is vital that you know your rights and how to best handle these calls.

How to Handle Debt Collectors

The first step to dealing with debt collectors is to have a clear understanding of your rights. Collectors are well versed in these, but they also recognize that you may not know them.They will use all sorts of tricks like the ones mentioned earlier to gather more information, intimidate you, and possibly even get you to acknowledge the debt is yours.

However, you do not have to allow collectors to continue calling and harassing you. You have the right to ask for more details on any debt that you are contacted about. The Fair Debt Collection Practices Act is regulated by the Federal Trade Commission and its purpose is to protect you from unethical and illegal debt collection tactics. If you ask for more information about the debt, the collector must provide you with details within five days of calling you. Once you receive the details, if the information is inaccurate, you have 30 days to dispute it. You can also request that the collection agency stop calling you, and legally they must comply. However, if the debt is legitimate, they can still sue you to collect it. To avoid this, and eliminate the debt, consider the services of a debt resolution company such as Freedom Debt Relief, another company in the Freedom Financial Network.

Freedom Financial Could Help You Settle Your Debt

Freedom Financial offers a variety of solutions to help its customers resolve their debt. The company’s mission is to provide service, education, and financial tools that enable you to reduce your debt, create wealth, and achieve the financial freedom that you deserve. Whether you have a substantial amount of debt that you want to resolve, are interested in a consolidation loan, have a few collections you would like to settle, or just need some assistance making better financial decisions, they could help.

They are the largest, most successful debt solutions provider in the country. They’ve helped hundreds of thousands of people regain control of their finances by putting their debt behind them.Because they recognize that every person’s situation is unique, they provide a variety of solutions and exceptional customer service to ensure that the solution they offer to each customer is custom-tailored to that customer’s specific needs and goals.

So, if you are ready to take the first step towards financial freedom, contact one of their certified debt consultants today to get started.

6 Traveling Hacks That Still Save You Money

Traveling can be fun, enlightening, and at times, expensive. Traveling can really hurt your pockets, especially when made without proper planning.

Your limited budget should never be a reason not to enjoy your vacation.

Today we prepared six easy hacks when traveling (while still actually saving money!) that you can incorporate in your next budget travel.

1. It Pays To Plan Ahead

Set a travel budget before you leave, and swear that you follow it.

You can make an estimate of all costs associated with your travel, including those unexpected ones.

Book your hotel room months early. This way, you can set your travel budget more accurately. 

If you wish to save more money, get yourself familiar with the public transportation in the area and how much it costs.

Do not set aside a large chunk of money for souvenirs.

Your friends and family will appreciate funny stories better than unoriginal, mass-produced bracelets.

2. When Booking Flights or Hotels, Use Your Points Instead Of Your Money

Using your credit card miles and points is the best and cheapest way to book your flights and hotels.

If you have a Jet Blue credit card, you can choose to redeem your accumulated miles and points to saveyou hundreds of dollars.

Watch out for flights leaving on Tuesdays, Wednesdays, and Saturdays as these are the cheapest days to fly. 

3. Be Your Own Tour Guide

Most people tend to pay for guided tours as this is the easiest way to explore a city.

Guided tours do not usually come cheap, and they do not give you enough time to explore on your own as you should always stick with your group.

We have listed some free apps below that replace those expensive tour guides in case you enjoy wandering off alone:

- Detour – This is not your typical audio tour as the app can pinpoint your exact location and give you an overview of a destination, complete with interviews.

- Filed Trip by Google– This app by Google will run in the background and give you helpful information about several spots in the world through popup notifications. 

- Cities Talking – This app will prove to be really helpful for tourists because it provides its users some audio tours of major cities in Europe like London, Berlin, and Paris.

4. Live Like A Local

To live like a local is to save tons of money. 

Not only that, it is also meant for you to experience the real country.

There is absolutely nothing wrong with staying in five-star hotels, if you have the money for it.

But if you are strapped on cash, you may try Couchsurfing, or better yet, make friends with the locals who are friendly enough to offer you their sofa.

Forget about fancy restaurants and just eat at a simple shack where locals go to for lunch.

Order whatever delicacy is written on their menu, or get whatever food the place is exactly known for.

5. Get Yourself Walking

Traveling is walking. Period.

No matter who you are or where you are, you will always get to your destination cooler and cheaper if you simply walk.

Walking provides you with a lot of perks—seeing beautiful street arts, learning hidden streets and alleyways, and meeting interesting people along the way.

Walking is also a good exercise.

Did we mention walking is also free?

6. Keep Your School ID Handy (If you’re a student, of course)

You have no idea how your being a student means discounts and perks all around the world. 

Get yourself an ISIC, or International Student Identity Card.

In some countries, this card will get you lower rates in cinemas, public transport, restaurants, and even museums.

Other countries even offer discounts to students who are traveling abroad if they wish to visit Going back to our previous hack, it is important to always stick to your budget. 

Properly managing your travel budget will give you extra money for other things that you wish to buy or see during your trip.

Once you get the hang of traveling on a budget, you will soon realize that this way of traveling is the best way to go.

It allows you to open yourself up to new things and experiences, and you cannot put a price tag on them.

Do you wish to travel more? Then save more and spend your money more wisely.

Which of these travel hacks appeal to you the most?

Let us know what you think by leaving a comment in the box below.

Kristoffer Canimo is a Manila-based writer who strictly needs a coffee fix before accomplishing anything. When he's not writing stuff or finding ways to earn money online. He loves Raymond Carver.

Why Failing To Track Your Finances Is Failing Them Altogether

When it comes to your finances, you can often feel as if you’ve got complete control over them, or that you’d just rather not look. If you fall in the first camp, there’s probably one thing that you’re doing that the guys in the latter camp aren’t, and that’s tracking your finances. Although you may feel that avoiding the situation will stop you from worrying about it, not knowing what is going on with your money can only be a bad thing. It’s important to keep a close eye on everything if you ever want to improve your financial situation. So, let’s run through a few reasons why you should start to keep track.

To Keep Within Your Means

First of all, keeping track of your finances is the only way that you can learn to stay within your means. If you get into the habit of spending more than what you earn, you may find that you fall drastically into to debt. But, you can certainly stop that spiral from happening by simply knowing what’s going on. When you know what money you get in and how much goes out, you can set yourself spending limits to ensure that your financial situation starts to look up.

To Make Sure Your Income Is Right

Plus, when you think about it, by not keeping a close eye on your finances not only do you not know what you’re spending, but you don’t know what you’re getting in either. Without looking, how do you know that your income is right? When you keep track of the payments going in and out of your financial life, you’ll easily be able to spot when something isn’t right and be able to rectify it right away. When you don’t, you may be getting paid the wrong amount and never even know.

To Pay Your Bills On Time

Likewise, when you track the comings and goings of your financial accounts, you’re able to make sure that you’re paying your bills on time. Missing payments can harm your financial standing, so this point should definitely give you the motivation you need to be able to get yourself back on track and start improving your situation.

To Get What’s Owed To You

Again, when you’re not tracking anything in your financial life, how can you ever be sure that you’re where you need to be. When you lend money, or you’re due payment for selling goods or a service, without checking, you’ll never know that you got the money. Then, you’d have to use a people search or online profiles to find who you’re looking for to track down the money. But when you keep a close eye, you’ll know right away and can do something about it.

To Make Sure You Save

So many of us wish that we could save more. But trying to save more money isn’t something you’re likely to be able to do when you have no idea what’s going on with your finances. To start saving, you need to know what money you have available to put away. So if you’ve ever wanted to have a safety net, now’s the time to start tracking your finances, get money back in order and make good on that savings promise.

Dealing with Tough Financial Times

At some point during most people’s lives, they have to deal with tough financial times. It could be that you run a business that suddenly goes under, you lose your job unexpectedly or the cost of living simply rises to unaffordable levels. Whatever the reason, being ready to deal with these tough circumstances is an invaluable skill to learn. So, it is a good idea to be prepared as you never know when storm clouds are on the horizon. Here are some of the top ways that you can deal with tough financial times that may arise.

Make Saving a Priority

This one is more of a preventative measure, but while times are good, you should be looking to put some money aside every month in case you need it. To start off with, you should focus on clearing off your debt as this can quickly start to mount up over time. Once this is done, you can start saving. Even if this is not a huge amount, the difference between having a few hundred dollars saved and nothing at all is enormous. Learning to live a little more frugally so you can have this money in reserve is an invaluable skill to develop.

Write Out a List of Expenses

It is a good idea for you to write out a list of your monthly expenses so you know exactly how much is going out of your account. You can then divide this up into essential and non-essentials. Once you have made this distinction, it will be much easier to work out what you can cut back on if you need to. Not only this, you can also determine what you are spending right now so you may be able to save more money straight away.

Have a Contingency Plan

Making sure that you have a ‘Plan B’ can really help to put your mind at ease. For example, in the event you lose your job, it is a relief if you have some other means of making money - maybe online through the sharing economy. If you happen to get into an accident or sustain an injury, it is good to have the contact of a law firm like ShreveportLawyer.com to help you out. Try to think of various different scenarios that may end up befalling you and the ways in which you would respond should they happen.

Build Up Your Social Network

Having a strong support network of people who can help you out with difficult times is a welcome relief. Not only can they help you out directly, but they can also help you out with potential job opportunities and ideas. The more you build up a maintain your social network, the better prepared you will be to deal with unforeseen circumstances.

Dealing with tough financial times is never easy, but all you can do is to be as prepared as possible so you are ready to face them head on.

How To Bounce Back After Money Troubles

Life isn’t fair. Even if you’ve done everything you can to save money and protect yourself from any financial nightmares, unforeseen circumstances can completely drain your savings and leave you in an unstable situation. You can’t protect yourself from something you never saw coming, but there are steps you can take to help you recover from a financial setback.

Medical bills

Unexpected illnesses and injuries aren’t ideal at the best of times, but the medical bills that come after your treatment aren’t something anyone wants to deal with. If you’re a self-employed freelancer, or you work in hospitality, taking a few days off sick can set you back in shifts and leave you short of your rent for a month.

Recovering from these bills will put a strain on your finances for a while, but if you tighten your belt and employ the same steps you use to recover from debt, there’s a good chance your finances, and your health, will recover.

Unexpected job situations

Even in a time when a lot of cutbacks are being made, no one ever expects they’ll be made redundant from their job. If you’re ever given notice that you won’t have a job soon, there are some things you need to do. Clarify with your soon-to-be-former employer, how much longer you will be staying on, and if you will be paid for the time you are still an employee. Once you know how much longer you will have money coming in, spend your free time sorting out your resume and securing references. You should also take care of your finances so you have enough to pay the bills in case your job hunt takes longer than you’d like. Read this post for some money saving advice. In this case, the best way to financially recover from losing your job is to make sure you get another one lined up as quickly as possible.

Expensive home repairs

There are a lot of DIY posts out there that can advise you on how to do your own home repairs so you can avoid expensive bills from a handyman. Unfortunately, there are some jobs that only the professionals can handle, and inevitably the cost of the repair will put a serious dent in your savings. If the damage was extensive, such as water damage or a backed up sewer, check your home insurance policy to see if you’re covered for this kind of damage.

Debt

If you were hit by any of the unforeseen circumstances above, you may have chosen to take out a loan to pay for everything. While you may have solved the issue of payments, now you have an increased debt on your plate. If debt is nothing new to you, then you know you have to sit down and make a realistic repayment plan. It may also be a good idea to include a savings plan so you can build a nest egg for the next unforeseen disaster.

The Secrets to Living a Financially Comfortable Life

Life can be a pain sometimes. Whether it’s accidents that could’ve been avoided, natural disasters that were unavoidable, or industry shifts that have caused damage to your job security, life can be unpredictable. However, it can also be good to us as well. Perhaps you have a stroke of luck that propels you into a new career path, or maybe you get lucky and manage to catch the last train home on a busy evening.

Whatever happens, life is what we make of it. For all the horrible things that affect our lives, we also get an equal amount of positive things. As such, we need to make the most of each situation in order to live a comfortable life. So be it misfortune or fortune, here are a couple of secrets that will help you live a comfortable and stress-free life.

Save money, but within reason

We’ve all heard about opening a savings account and storing all of our money inside. In fact, we may even think about investing our money in something like stocks and shares, businesses or even another house. While these are definitely good options, it’s always good to have a plan when you save money.

For instance, perhaps you want to save up enough money for an emergency fund. Emergency funds are useful because if you ever lose your job, have a period of no work, or simply need an injection of cash to repair your home, then an emergency fund will get you out of a sticky situation. Set a limit to how much you want to save for your fund, and then once you reach it, you can stop putting money into it and you can invest your money into something else. You might also have plans to save for a house. Use an online mortgage calculator and work out how much you need to pay for the initial deposit, and once you reach that amount, you can start to put your plan into action and take out a mortgage on a house.

If you don’t set a goal for your spending, then you’ll just save money for no reason. Money needs to be spent in order to make use of it. There’s no use saving for a goal that is far into the future. Many people worry too much about their retirement fund when they’re still in their 30s, and while it’s an admirable goal to think about the future, it’s also rather foolish. Instead of worrying about money you can spend in 30 to 40 years time, worry about spending money on things that are in the present.

In short, remember to spend money on things that will improve your life in the present and don’t think too far into the future. Set yourself a budget and contribute monthly payments towards savings goals such as an emergency fund or a future mortgage.

Learn the value of everything around you

No, this doesn’t mean to attach a price tag to everything you own. What this actually means is to find the monetary value in everything you do. For instance, consider the implications of a night out. You’ll need to pay for travel fees, you have to pay for drinks and food, and you might even spend money on accommodation if you’re far away from home. This all adds up in the end and it takes some time to recuperate those costs, but you need to decide for yourself if it’s worth the money to visit your friends and have a fun night out with them. Knowing this, you have alternatives. For instance, you could have a night in with your friends instead of going out. You might not meet new people, but you’ll still have fun, it’s cheaper, and it opens up more simple pleasures such as playing a board game or watching a film.

It’s also worth noting that you can learn the value of your misfortunes too. For instance, if you have an accident, you need to consider the costs of medical fees, how much money you lose (if any) for being off work, and how much money it will cost to live with an injury. If you’re having trouble with these costs, then it’s recommended you get a lawyer and make a personal injury claim. The trick to dealing with misfortune is to find a way to turn it into a positive, and in most cases, this means making a claim.

You should also try and learn the value of the items you’ve bought. People often get carried away because they buy far too many items and leave them to rot, but you’d be surprised at how much money you can get for a device which is only a year old, even if it’s been heavily used. For instance, if you upgrade your computer or phone on a regular basis, don’t keep around your parts for spares and instead, sell them to someone else on Gumtree or eBay. Take good care of your items so they retain a good sale value, and always declutter your home by getting rid of unneeded items. It’s a fantastic way to make a bit of extra money and ultimately pay less for your favourite stuff.

Don’t let other people influence your financial situation

Something that a lot of people miss out on is benefits and welfare payments. For instance, you might get help because you’re unemployed or because you are having trouble paying rent. While these welfare payments don’t exist everywhere, many people miss out on them because they refuse to be labelled someone who lives off welfare. It’s this kind of stubbornness that can seriously reduce your quality of life. In general, you should always be trying to look for all the benefits you can and ignore what other people say about your situation. Those payments are there to help you for a reason, so why not take it?

Another place where people can save money is to buy second-hand or refurbished goods. The latest technology is always breaking because of hardware issues, which is why many companies specialise in refurbishing old units in order to get more use out of them. A Macbook Pro refurbished could be up to 20% cheaper, and it still performs just as well if not better than a new Macbook. This is because a refurbished computer will have its internals replaced with new parts and all the problems will be worked out and remedied. This makes it much more stable and reliable. However, stubbornness and peer pressure usually prevent you from taking the plunge and buying refurbished. In general, don’t let other people affect how you feel about your purchases, decide for yourself if something is worth it and be frugal when possible.

Live within your means

There are a couple of rules to living a financially comfortable life, and that involves setting yourself a limit and not going over it. Whether you’re rich or on a low income, you have to live within your means. The best way to do this is to set up a budget so that you know how much money you’re spending. You can use some software such as a budgeting app to help you do this, but the best way to get started with budgeting is to simply look at how much money is coming in. Write this number down and then subtract your living costs, such as your rent, utility bill payments and groceries. Whatever money you have left over is counted as your disposable income, and you’ll be able to save it or spend it however you feel like.

However, if that amount is in the negative, then you’re probably overestimating some of your living costs. For starters, check out your grocery list and see if you can make any cuts there. You might be buying food that is far too expensive to eat on a regular basis, or maybe you’re eating out too often and should cut down. Perhaps you’re spending a lot on your electricity bill because you leave your lights and computers on 24/7, or maybe you’re powering an expensive home cinema setup despite being on a low income.

It’s not the most pleasant feeling, but you need to understand what your costs of living are and how you can cut down. There are many people who spend a lot of money but always have no money before their next paycheck because they live beyond their means. If you’re one of these people, then you’ll just have to accept that you need to cut down on expenses and live more frugally. If you don’t, you could end up in serious debt. Neglecting your financial responsibilities is a path that is hard to recover from, so focus on improving your situation as quickly as possible.

To summarise, living a financially comfortable life is done by being truthful with your spending. Don’t lie to yourself about what you can and can’t afford, don’t save money needlessly, and always value the possessions you have and understand how money flows in and out your of life under different situations.

Funding Yourself Whilst Ill And Out Of Work

Weeks off work due to illness can take its toll on your finances. Statutory sick pay can often be minimal and if you’ve been used to running a household on higher wages, debts can start to build up. Keep yourself and your bank balance healthy by trying out some of the following methods.

Work from home

If your job is largely phone and computer based and you’re not too ill to deal with the associated stresses, your employer may be able to help you arrange a way of working from home. Even on a part-time basis, you may be able to rack up more money than you would have on statutory sick pay.

Of course, if this is not an option, there are other methods of earning money from home. Survey sites are an easy and stress-free source of extra money that involve you filling out surveys for money. There are blogs meanwhile that pay you for writing pieces. Have the know-how and you may be able to write a piece for one of these blogs.

Sites such as Fiverr and Craigslist meanwhile are great places for offering any kind of service you can think of for money from restringing someone’s guitar to managing someone’s social media for them. Any skill you have can be advertised online and charged for. Just make sure that you aren’t doing anything to physically and mentally exertive that may affect your recovery or make you more ill.

Consider your legal options

You may legally be entitled to some other form of money, especially if your illness is due to injury or sickness that wasn’t your doing. You can find specific injury law firms such as The Brown Firm that can handle such claims. Examples may include being injured in a car accident, falling on a slippery floor somewhere that wasn’t mark or being made ill through medical negligence.

You may also be able to sue your company if you were injured at work. However, this can be risky if you work for a small business, as it could affect your relationship with your employer. Such legal action is best reserved for large corporations that are protected with insurance against such claims and will be more likely to pay up due to the impact on their public image.

Seek an advocate

Advocacy programmes can help those in need with medical advice, largely existing to help with complex medical decisions that the patient may not be in a position to make. However, advocates can also help you if you are financially in need and cannot afford medical bills. If you believe you have been wrongly billed by a hospital or an insurance company, advocated may be able to better negotiate costings. They can also find the most cost-effective treatment plan within your budget, which may involve calling around various hospitals and social services. This could help make the recovery process overall much less costly.

Don't Let Your Finances Get Out Of Hand

The problem with money is that it’s no good if you don't keep you eye on it all of the time. In fact, if you don't watch your finances they can easily get out of control, causing you a lot of hassle and stress. So make sure that you keep your finances under control and in hand by following the tips below.

Don't borrow more than you can afford

Really, the number one rule to make sure that your finances don't get out of hand is to not borrow more than you can afford to comfortably pay back.

It really is the comfortable part that matters most here. That is because you can find all sorts of institutions that will lend you vast sums of money, but your standard of living will be compromised if you have to spend most of your budget on paying back loans every month.

Remember, you need to have enough money to go on the odd weekend away, buy clothes and have a few nights out. Or all you will be doing is working, and that is not a recipe for a happy life.

Keep yourself organized

Next, to ensure that your finances don't get out of hand you have to keep yourself organized. That means knowing exacting what is coming in and what is going out every month.

It also means logging what you have spent and checking that everything totals up at the end of the month. It can also help to have information on what you owe and are owed to hand, so it's easy to keep control of everything.

Also, if you are self-employed your finances can become even more complicated. So it's crucial to keep clear records for when it come time to file your tax returns. You can do this by using specially designed software. Which is better than just hoarding all of you recipes in a carrier bag under your desk!

Claim what is yours

Another important part of being on top of your finances is making sure that you claim what is owed to you. This could be in the form of a pension, compensation won for you by an injury lawyer or event benefits such as working family tax credits and the like.

Why struggle, when there is money out there that is rightfully yours? That is just crazy!

Save 10% for a rainy day

Lastly, a vital element of staying on top of your finances, is realizing that unexpected things are going to happen, and you will need money to cover these.

That is why is a great idea to put at least 10% of your salary every money into an emergency fund. Then if you get sick, or lose your job, have to move, or even have a baby, you will have a nest egg to keep you safe and comfortable. It also means you won't have to go into debt to pay for these things, which is where things often get out of hand.

I've Paid Off My Debt. What's Next?

Well done – you finally did it! After months, or even years, of funneling your income towards that lingering cloud of debt, you’ve made your last payment and will never have to worry about that particular payment again. Now that you’ve shrugged off this burden, it can be hard to know what you should do next with your money. Here are some good next steps to consider…

Treat Yourself!

Okay, a tendency to spend on some of life’s luxuries could have been what got you into debt in the first place. However, if you’ve been shackled to this debt for a long time, and it’s been dictating every little purchase you’ve wanted to make, use this relief to reward yourself for all your self-discipline. A special meal out, a luxury purchase you’ve been putting off, or even a little getaway could all be in order depending on the kind of debt you’ve managed to rub out. Just exercise a little moderation, and don’t start the process of racking up debt all over again!

Re-prioritize your Goals

After you’ve had this celebratory spending spree and come back feeling refreshed, your next important step is to prioritize your remaining financial goals. It’s pretty common for people to pay off a debt that’s been hanging over their heads for some time, and then relax the financial part of their brains, figuring that they don’t have much else they need to be worrying about. However, when you’ve managed to free up some of your personal cash flow, you’re presented with a great opportunity to start planning for your next big goal. Whether you want to use up spare cash investing at a binary options broker or simply move onto dealing with the next big debt, don’t lose your sense of structure!

Bolster Your Emergency Fund

If paying off your debt has caused you to dip into your emergency savings, then re-building this should take priority over any of your other financial goals. After all, the next time a big, unexpected expense gets dropped on your head, you don’t want to be left with no resources to tackle it! If you’ve totally depleted your emergency fund, then start it up again with a nice big contribution; around half of what it was before you used it to pay off your debt. Then, aim to contribute around a half of this every month until your emergency cash cushion is looking healthy again.

Start a Savings Plan

If you’ve spent a fair length of time paying off this debt, there’s probably going to be at least one big purchase that you’ve been putting off thanks to the financial burden. Now that you’ve been able to free up some of your money, you should set out a savings plan for the next big purchase you’ve been putting off. Whether it’s a new car, a trip of a lifetime or a big home renovation, set yourself a rough budget and then give yourself a marker for making monthly contributions towards it. This is one more thing that will give your personal finances a firm sense of structure.

Big Family Keep Getting Bigger? Keeping Your Finances In Check

It’s hard enough to keep things afloat and your financial standing solid when you’ve got any children, but it can get all the more difficult when your family keeps getting bigger and bigger. Naturally, you will have reviewed whether you can afford to have any child before you made the decision to do so, so it’s unlikely that the basics - food and housing - will have to be too severely compromised. Still, it’s wise to have a stringent plan in place to make sure things don’t unravel. Nothing can put more undue stress on a family like money, after all!

Establishing the Rules

If you’ve got plenty of kids, then you’ll need to set the ground rules so everyone knows what they’re dealing with. Your family budgeting probably didn’t account for everyone to stay in the household until they’re in their mid-thirties. It’s pretty simple - when they reach a certain age, they have to contribute X amount of money to the household. It can begin as a small amount, a token gesture to teach them the responsibility of providing, before working up to an amount that makes a real, positive difference. You might also have a rule that says by the time they’re 23 (or whatever), they need to be in the process of moving out of the family home.

To the Future

You're responsible for the family’s money, and it’s important that you keep an eye on the long term growth. This is as much for your own sake as it is for your partner’s and children’s. Speak with a financial expert on occasion to get an honest assessment of your finances; they can advise when you should be selling your home - or not - and so on. Be sure to choose the right estate planning advisors well in advance, as an unforeseen accident can complicate financial matters hugely - especially when a large family is involved. Keeping an eye on the housing market and deciding when to sell the family home and downsize is also important, as this will free up a lot of cash and boost your financial standing.

Their Rainy Day Money

A large family doesn’t necessarily mean that you won’t be able to gift your children savings to get them started in life, it just means that you’ll have to start the saving sooner. Put just a small amount of money into your children’s individual savings account each week can result in a large chunk of money when it’s multiplied by eighteen years or so. You may also speak to a financial advisor about what they best way to present the savings to your child is, as there may be options that will keep the money growing.

Keeping them in the Loop

Of course, if times ever get tough then you should be willing to open up and talk to your family about the state of your finances. Many families keep money issues far away from the children, but by keeping them in the loop you’ll be taking unnecessary stress off your shoulders and teaching about them financial matters.

The 7 Signs That You Are Financially Responsible

Financial responsibility is a skill that everybody should want to develop. After all, the amount of money a person has will have huge influences on their life opportunities. Moreover, it will impact your future as well as your present. Overlooking the importance of getting this part of life right is simply not an option.

So what are the telling attributes that will confirm whether you’re doing enough with your finances? Let’s take a closer look.

Respecting Your Credit Score

Everybody has a credit history, and yours will impact virtually every major financial decision. If you’re looking to receive any form of credit, your score will essentially dictate how likely you are to be accepted. Moreover, it could be the difference between taking on high or low interest.

We all make mistakes. But if your credit history is poor, it’s imperative that you start repairing the damage immediately. The first step is to access your free annual credit report to check where you are going wrong. While you’re at it, it’s best to check that any data held on file is accurate.

Your credit score might not directly impact the funds you currently have sitting in the bank. However, the influence it has on your future financial opportunities cannot be emphasized enough. Working towards the best score possible is essential.

Keeping Yourself Protected

It’s one thing to create a situation where you feel financially stable right now. But what happens if life serves up one of its many unforeseen situations? If you’re not prepared to deal with the worst, you could be setting yourself up for a very nasty surprise.

With this in mind, educating yourself over insurance is vital. It’s not enough to simply take out the first policy you see. Understanding the different categories and coverage levels is crucial. Hopefully, you’ll never need to exercise your plan. Still, knowing that you have the protection is as important for your emotional security as it could be your financial health.

Controlling Overheads

While there’s no denying that a high income is hugely beneficial, it isn’t the only key element of your financial status. Your outgoings can be equally important to determining where you stand both now and in the future. Thankfully, improving this area is far simpler than working towards a higher wage.

Most households are guilty of unnecessary overspend. Whether it’s modifying your cell phone package or your energy rates, each saving is a step towards a brighter financial future. Combine this with simple lifestyle changes, like organizing a carpool to work or couponing, to take those savings further.

Alternatively, upcycling can save the need for making additional purchases. Similarly, selling unwanted goods can generate income too.

Focusing One Eye On The Future

First and foremost, you need to take care of the present. However, planning ahead for the future is another hallmark of a responsible individual. Do not underestimate it for a second.

Investments play a crucial role in building a better future. This is especially true in today's climate as pensions are unlikely to offer enough support in later life. There are plenty of potential avenues to take, but property investment is easily one of the most secure solutions. Whether buying to sell or let, experts at STL Real Estate can help you maximize your profits. Just remember that you also want to survey any property before making a commitment.

Trading stocks and other opportunities may become available too. As long as you do your research before rushing in, there’s no reason that your savings can’t become the key to future riches.

Prioritizing Ambitions

Most people have a long list aspirations in life. Unfortunately, very few are in a position to actively chase them all at once. Sometimes, knowing when to be patient is the most telling quality of all. For example, if completing a smaller purchase is going to stop you from achieving your biggest goal, it doesn’t make sense. Knowing what you want most, and working towards that target will set you on the right pathway. In truth, those skills can aid other aspects of your life too.

Clearing debt should be your priority at all times. The longer you owe money, the bigger those repayments will become. Beside, getting back into the black is the greatest step towards your financial freedom. It may simply mean taking a consolidation loan to reduce your overall payments. Nevertheless, you should always take advantage of anything that will speed up the process of becoming clean.

Analyzing Your Options

Throughout your life, you will encounter thousands of financial decisions. Making better choices on a daily habit will help, but it’s particularly crucial when dealing with the major purchases. After all, the pathway you choose could potentially save you hundreds.

Take buying a car as an example. While you may think purchasing is the obvious option, the rate of depreciation means this might not always be the case. Car leasing can work out cheaper in the long run, especially if you plan to change your vehicle on a fairly regular basis. Besides, this way you don’t need to worry about the hassle of selling a used motor either.

There are many other situations where weighing up the pros and cons of each option could generate a huge influence on your financial health. As a responsible person, it’s imperative that you get into the habit.

Monitoring Your Situations

You may think that you’re handling your finances in a suitable fashion. But how can you ever be 100% certain until you actively analyze it?

Tracking your expenses will give you a far deeper understanding of where you stand, especially if you need to file your own taxes. Moreover, it should allow you to pinpoint any areas that need improving before they cause any more damage. When you rectify those mistakes ASAP, achieving the best financial status possible becomes far easier.

That doesn’t mean you’ll become a millionaire, but it will give you the best chance of staying secure. If that isn’t an incentive to go that extra mile, then what is?

Defeat Debt: Don't Let It Rule You

Debt is an awful thing, and although it may essentially be your own fault, it doesn’t mean you should suffer as there are various methods and ways you can defeat it and be happy again. It will take some effort on your part, and a willingness to deaf it, but with some hard work and perseverance it is certainly possible. All kinds of debt, whether credit card, store card, or personal loan can be negotiated if handled in the appropriate way, this article can help you think in the right manner and give you what you need to succeed.

Research Help Available

The help you can use can come from multiple places. There are various government schemes that can help you get back on your feet and stop unfair debt collectors who charge ridiculous fees in interest. You can get the debt frozen, and the ability to pay it off becomes far easier. You can even get some of it written off, so don’t be afraid to go down this route and don’t feel bad about it either, most lenders purposefully give huge almost unpayable interest on their lending, especially on things like payday loans. If you know what kinds of help are out there then you can start making the right decisions for you.

Don’t Get Saddled With Someone Else's Debt

If you are in relationship or marriage with someone else's debt hung over you then don’t settle for it, especially if you are no longer together. First you need to find a good Divorce Law Firm, and then get separated as soon as possible. By doing this you can get rid of the debt that was never yours in the first place. Do not settle for it, because debt collectors will take money off anyone who is related to the person who built the debt, especially a spouse. Divorce may cost money, but by getting divorced you’re distancing yourself from the debt collectors and the person who got you saddled with some debt in the first place. Take charge and don’t be cowed.

Take A Consolidation Loan

It probably sounds ludicrous. How does taking out more debt enable you to pay debt off? Well it can and it does. You clearly don’t have the money to pay these debts off, so get a loan, pay the debtors off, and then you’ll only have one manageable payment to make each month. This way you won’t have multiple people chasing you each month. There are specific loans for this, so make sure you find the best provider for you and your situation.

Cut Back

One of the first things you’ll need to do to is cut back on all your unnecessary expenses. You got yourself into the situation you’re in, so don’t complain when you reduce the amount of luxurious in your life. It can be done in a way you hardly notice and the saved money can go towards staving off some of the debtors. If they are being too aggressive then seek help, but if they are reasonable you can keep them placated with the money you manage to save.

Bordering On Bankruptcy? These Are The Biggest Causes Of Money Loss

Are you worried about losing money? You should be, money loss is a huge problem for people up and down the country every year. People are close to bankruptcy, and struggling to make ends meat. Today’s piece will focus on the causes of most people’s money loss in modern society. Check out these three points for more info:

Bad Investments

Investments are a great way of spending your money and getting more out of it. That is, of course, if you make wise investments that have the potential to grow. Bad investments will have the opposite effect on your finances. They will lose you a lot of money and bring you close to the brink of bankruptcy. There are loads of bad investments you can make, but I think bad real estate investments are the most common. Too many people like to take risks on the property market, in the hope of making a huge profit. Most of the time, real estate risks cause you to lose a lot of money and be nowhere near a profit. To avoid this, you can read the article here http://www.yourfinanceformulas.com/ on real estate pitfalls and how to stay clear of them.

Personal Injury

Sustaining a personal injury is by far and away one of the biggest causes of money loss in modern individuals. As well as going through physical trauma, you also have to deal with severe financial damages too. You can see on sites like http://teagueandgloverlaw.com/ that personal injuries cause people to lose income, and gain massive medical bills. Without proper legal representation, you will lose a lot of cash. When you’re hurt, you can’t work, when you can’t work, you can’t earn money. It’s a vicious cycle to get into, and thousands of people see their money fall down the drain day by day when they suffer an injury. If this happens to you, the best advice is to firstly, seek legal help to claim as much compensation as possible. Secondly, think about part-time work you can do from home that doesn’t hurt you and is easy to do. Something like freelance writing in your spare time is a good idea, anything to gain some extra cash.

Excessive Gambling

Without a shadow of a doubt, gambling is a huge factor behind many personal bankruptcies. The issue with gambling is that you hardly ever win, and you lose more times than you win anyway. So, you’ll throw more and more money away in the hope of winning a small percentage of what you’ve spent in total. Gambling is highly addictive and causes so many people to lose their money every year. Obviously, the easiest way to avoid this is to stop gambling or never gamble, to begin with. An alternative can be to gamble by playing online games that don’t require you to use real money. You still get the thrill of gambling, without the risk of money loss.

If you can avoid these three things, then you can stay clear from some of the biggest causes of money loss. Also, use my advice to help reverse bad situations if you do end up falling victim to one of these issues.

A Guide To Coping With The Cost Of Christmas

Christmas is a time for giving – for those that don’t have much in our accounts to give this can be a problem. You may have been scraping through the year just fine, but now Christmas is here and it feels like a year’s spending in one month. There are gifts to get for everyone, masses of food for the day, decorations to put up – all on top of the regular bills and spending. No-one should have to be financially crippled by Christmas, but similarly no-one should have to skip this event just get to by. If you’re short of pocket, here are ways to save money this year and survive Christmas!

Spread your Christmas spendings throughout the year

It’s a little late to do this now, but worth taking into account for next year. You can either put aside some money each month for December spending, or you can buy gifts throughout the year. For decorations, take advantage of the January sales. Prices plummet as nobody has any use for Christmas decs any more – why not prepare for the next year instead? Spreading out some of the spendings can soften the blow when it finally reaches December. Obviously certain things such as food will have to be bought nearer the time as these expire (although some may be able to be frozen).

Tell people your situation

Everyone knows that Christmas is expensive. Let people know the situation that you’re in, and they’ll understand if you can’t buy them huge gifts. There’s a lot of generosity around Christmas – if feeding people for dinner is a problem, a family member or friend may invite you around theirs. If you feel like you really have no-one to turn to, look into charities that might work specifically with families in need at Christmas. Telling people that you’re skint may not be easy to do, but so long as you don’t beg for money from people, most people will be understanding.

Take out a loan

If December is the one month that you struggle with, why not take out a loan and slowly pay it back over the next year. There are loan companies that offer relatively small amounts, but have a high approval rate. Application is much easier than going into a bank (you can learn about it at Cigno Loans). Of course, you should always budget exactly how much you are able to pay back over the coming months. And you should never pay off a loan with another loan. Be careful and it can be a lifesaving Christmas strategy. Many people do it.

Make cuts to food and presents

The way to save on any occasion is to make cuts. With gifts, there are countless ways to make trimmings to your budget.

The first is to consider joint presents. Instead of sending a separate present to two nieces or two members of a couple, give them a shared gift that they can both enjoy. Similarly, you can team up with your partner or a sibling to cut the costs on certain gifts.

You then have to decide who really needs a present or a card. If someone hasn’t bothered to send you a gift or message in a few years, cut them off. Save money on postage to distant relatives and friends with a digital Christmas card. Also consider sentiment instead of financial value. A photo album might have more of an impact than a piece of jewellery. Put thought into your presents instead of money – consider private joke items instead of generic cheap tat such as socks and toiletries. For hobbies, buy guide books, t-shirts and mugs instead of actual equipment – sometimes the more practical objects are better chosen by the person with that hobby.

When it comes to food, cut down on treats on the lead up to Christmas – it will make it all the more worthwhile. Remember that the Christmas meal will provide leftovers that you can use for a week after the day. You may not need to do a full weekly shop on top of a Christmas meal. If finances are really a problem, look into eating out at a pub. Budget how much cooking your own Christmas dinner would cost compared to dining out. Not only may it save you money, it will also save you the kitchen stress.

Consider handmade decorations

For whatever reason, most of us keeping buying new Christmas decoration every year. If you already have a load from last year, including a tree, and you’ve hit hard times, don’t bother buying new items – use what you’ve got.

However, if for whatever reason you’ve lost most of last year’s decs, or this is your first Christmas in your own property, using last year’s adornments may not be possible. If this is the case, it’s time to get creative. Buy some glitter and paper and start making your own decorations – including paper chains and paper snowflakes. If you have kids, you can get them involved. This will work out a lot cheaper than tinsel and baubels and feel all the more personalised.

Sell gifts you don’t need after Christmas

Everyone gets gifts at Christmas that they don’t need. Either it’s a piece of clothing you’ll never wear, or an object you already have. Whilst it’s rude to admit it to the person giving you the present at the time, you shouldn’t have to cling onto it afterwards out of guilt. Sell these unnecessary items and make some money back.

Similarly, Christmas may clutter things up around the home. January may be a great time to declutter and get rid of all the things you don’t need. Of course, you shouldn’t just bin these surplus items. If you can make money out of any of it, do so. There are many online stores that take second-hand clothes and books – even damaged ones.