Tuesday, 31 January 2017

Advice From The Most Successful People On The Planet - Episode 2

What do you think about the advice of the most successful people ....? Do you think we need to embrace pain? Can you change yourself to be like someone you admire?

Dealing with your biggest enemy - You

I recently watched the movie Creed with some friends and picked up a number of lessons that can be learned about progressing in your life.

Creed junior the son of a famous boxer (who has died), wants to follow his father's footsteps and become a world class boxer. He therefore looks for Rocky who had been his father's coach. Without ruining the end of the story I can tell you that he achieves his dream.

Here are a few lessons we can learn from the film about achieving your dreams:

1) Be clear about what you want. This young man in the film made a choice to pursue what he loved. He left what he was doing and dedicated himself to the task. You will have to give up certain things you are doing to do what you really want to do.

2) Work hard to train yourself - Creed junior makes sure he is in shape. Get up early and work hard so you can achieve the results you want.

3)  Get a coach to keep you motivated and a mentor who has achieved what you want to achieve. Rocky is that coach and mentor. Creed pursues him until he agrees to help him. It takes determination to get the right mentor and coach. Don't give up until you get the right person who can motivate you and knows exactly what to do to get you to where you want to get to. Their ceiling can be your floor. You can stand on the shoulder of giants.

4) Learn new skills - Creed is introduced by Rocky to many coaches who are able to teach him new skills. Be open to learning new skills.

5) Overcome yourself. Our character needs to be trained to overcome old habits. In the film Rocky (the coach) stands with Creed junior and tells him to look at himself in the mirror and says to him, 'that's the toughest opponent you're going to ever have to face - that's true in the ring and that's true in life'. The toughest opponent you're going to have to face is the one looking at you in the mirror. Do you really want to win in life, then you are going to have to fight your fears, procrastination. impatience and bad habits.

It's worth watching the film and seeing how many lessons you can learn about achieving your goals and making progress in your life.

FOCUS ON YOURSELF ► Motivational Video

What's getting in the way of achieving your goals. Here are some lessons from a boxer.

Sunday, 29 January 2017

Advancing in your life

Are you frustrated with your life? Do you feel like you are not reaching your potential? We often have frustrations in the areas where we have a passion to achieve something and the gifts to achieve it. The problem is we keep putting things off. We don't feel like we are moving forward. So the question is how can we make progress in our lives?

Here are a few keys to advancing in your life:

1) Decide to think differently - as Confucius said, 'he who says he can and he who says he can't, both are usually right'. If you think you can't do something then you won't be able to. If you think nothing is impossible to those who believe then you are much more likely to achieve it.

2) Speak Differently - have a goal and write it down and then say it every day to yourself out loud. For example, 'I am a fantastic father or mother', 'I am an excellent husband or wife', I am a successful business man or woman', 'My abilities and gifts are in demand'. You will find that your declarations of faith will begin to shape who you are and bring these blessings into your life.

3) Act differently - Plan your work and work your plan. Whether that's about your partner, your children, your money, work or business. Every little action will be a step of progress as long as you do something you wouldn't normally do towards your goal. If you take a step every day you are making progress. 

4) Track your progress - Take a years goal and then break it down into 365 actions that take 15 minutes  each day. Then track your progress on a daily and weekly chart. You will be amazed at the difference that it makes. Things will move forward. 

5) Do it now - Every time the choice is presented in your mind or feelings as to whether to do the specified action now or later, make the choice to do it now. After all it will only take you fifteen minutes. 

If you are going to see a different result then do something different. Your frustrations will vanish and you will feel a surge of satisfaction that your life is moving forward.

Start now! Have a great week!

Alex Afriyie

Saturday, 28 January 2017

50 Entrepreneurs share priceless advice

Lessons from 50 Entrepreneurs - Do you agree that you need to love what you are doing to succeed?

How to Become an Entrepreneur With No Money - Ediz Emin |

Expert Author Ediz Emin"The internet is becoming the town square for the global village of tomorrow. - Bill Gates"

Becoming a successfully entrepreneur in this day and age is much easier than it used to be. If you haven't guess why, it's because of this wonderful opportunity we call the Internet. We can use the internet and all its features such as advertisements and social media to earn massive incomes as online entrepreneurs.

Many people now, including teenagers are taking the advantage of the internet to make a living. And the best part is it doesn't require the kind of investment you think it would in traditional businesses. No land, no labour, no tax and even no need to create your own products as you can become an affiliate for other businesses and earn commissions.

You should also understand something important. We are now living in the Digital Economy, and so many jobs are going to be taken away from people in the near future (watch the video in resource section below to understand how robots, literally are going to take our jobs), this is yet another reason you should start to move into this digital age and build an Internet Business.

So let's get into how you can become a successful entrepreneur or online entrepreneur for that matter, with little to no start-up costs.

There are many branches of establishing your presence or business on the internet, however I am going to be teaching you about the branch of Affiliate Marketing. Affiliate marketing is where you sell a service or product owned by another business and receive a commission/pay for it. This is such a great opportunity as you don't even need to create your own product to start earning an income.

So how do you go about becoming an Affiliate Marketer?

The first thing is to receive quality training about Affiliate Marketing, so that you can understand the ins and outs of marketing online. You should then look into proven business products/models that sell, so that you can gain the advantage in the market.

Your primary focus is then to look into different channels of marketing to get your products out there on the web. Some are more costly than others, while some are virtually free.

For example Content Marketing is a free way in which you publish content in the form of Blogs, Videos, E-books, Reports etc. so that people can receive valuable information which makes it more likely that they will make a purchase from you at a later date. Other channels include Social Media Marketing, Pay per click ads and more.

Article Source: http://EzineArticles.com/9473488

Mark Cuban: Only Morons Start a Business on a Loan

Do you think you could start a business without a loan? Watch this?

Friday, 27 January 2017

The 7 books every entrepreneur MUST read!

What do you think of this? Do you think these books could help you?

Money and Wealth Can Be Satisfying, But Only One Way - RS Kniep

Expert Author RS Kniep"He who loves money will not be satisfied with money, nor he who loves abundance with its income. This too is vanity." Ecclesiastes 5:10

Money and wealth are a necessary part of human existence; they are the exchange agent in all economies. In ancient times, it was livestock or land. Today, it can be cash or stocks or real estate investments. Essentially, money and wealth are identified not so much by what they are, but by what they represent.

Many people simply think of money as the green notes they hand you at the bank when you make a deposit. But it is so much more. Money and wealth can represent many things, and when you reduce money to its most basic form, it is value.

Understood this way, we realize money is not numbers on a bank statement, or a roll of bills tucked in a drawer, or a piece of paper with the words "Grant Deed". Money and wealth are all the values those things represent.

The value of money empowers one central, primary condition: security. With money we feel secure, protected from hunger, cold and heat, and lack of control. Every other benefit of money seems to flow from that one state of security. And security should bring satisfaction. Should...

It's no secret that the world is reeling from its dissatisfaction. Billions and billions of every currency is made, exchanged, and made again daily. Countless millions have far more than they need. Far more. And often the richest people are the ones with the greatest sense of unhappiness.

Why does it seem no one is content?

One of the chilling vanities we find in this life is this: nothing on which we set our hopes to achieve happiness or contentment will bring that condition we hope for. If we love security, we will feel insecure. If we love power, we will feel powerless. If we love influence, we will feel insignificant.

The obsession to gain money and wealth is a perfect illustration of this truth. The important issue here is the word LOVE. It is what we love that affects our satisfaction! Yes, money can bring happiness. Yes, influence can bring satisfaction. Yes, achievement can bring contentment. But how? How not?

Not when we LOVE THOSE THINGS. You see, setting our deepest affection upon anything, any condition, any situation, will ultimately let us down. And this is clearly why Solomon implored us not to foolishly seek those things above all else. Instead, he told us to love God above all else, and then everything fulfills as it was designed to fulfill.

The issue has never been money and wealth or any other thing we can gain. The issue has always been this:

Whatever we love more than God will ultimately bring dissatisfaction.

It's really not that complicated. I mean, think about it. How to be miserable? Easy. Love things - money, power, influence, pride, achievement, etc... more than God.

How to be happy? Love God more than anything. And how to do that? Put His laws and desires above our own natural desires. The absolute, sure-fire result is peace, security, happiness, fulfillment, and contentment.

And one more question... what does loving God more than anything really look like? Well, that is another post for another day, but for now, we can start by reading His Word. For in the Bible, He tells us exactly what He desires for our life, and

It is Tremendously Satisfying!

Article Source: 

Words Of Wisdom from Self Made Female Millionaire & Billionaire Entrepre...

Are you ready to take responsibility to see your life change?

Wednesday, 25 January 2017

There Is Abundance Out There, Enough for Everyone - Daniel A Amzallag

Expert Author Daniel A Amzallag"If everyone wanted the same thing, if everyone wanted whatever was super trendy and wildly popular, or even if everyone wanted independence, wealth, health and happiness, it wouldn't change the fact that you could still have yours, pronto.

There is enough for everyone.

And you do know the "right people."

The Universe"

With the billions of stars and galaxies in our Universe, there is as much abundance out there to meet the needs of this planet's whole population, a million times over. We are always fearing others taking what we want because we are afraid that if they have wealth, there is not enough for us to have as well. We constantly look to find opportunities and make sure to keep it to ourselves because of our thought process. 

There are enough opportunities and wealth out there for you to have your piece of the pie. Everyone might ask: "Well, if that is the fact, why aren't we all rich, and wealthy, and this or that?" That is because we were trained to think this way. Let me explain. As we were raised to be an individual participating to the greater good of society, we were thought by our parents that you need to work a steady 40 hours schedule to fulfill your role as a breadwinner, no matter the gender. We were then taught on how to fulfill our obligations to get to work in the morning and get back at night, and repeat this as much as needed until retirement. 

There are, in some circumstances, some who broke out of this mold and said: "Screw this upbringing. I am going to create my own opportunities and become the person I want to be, no matter what the outcome. I will be my own boss and create my own wealth. I will not let anyone dictate my schedule and will be the best I can be. I do not fear uncertainties, I do not fear failure, I do not fear anything. I will prevail no matter what". This breed of people are called Entrepreneurs. It is with this mentality that we have many entrepreneurs that are successful OR in many cases not, but still going for their dreams and their pursuit of happiness.

There is no reason to think that wealth and abundance is not around you. Be one of the few that will train your offspring to think that there is enough out there for everyone to take their portion of that wealth. If you teach them to keep everything for themselves or that if someone have reached wealth, that there is no longer anything available for them to go for and should abandon their dreams. Teach everyone to NOT compare themselves with someone who have already reach ultimate financial success. It will be the beginning of the end for them. Not a good way to start teaching good habits here. 

So what can you do as a parent? Teach them abundance and attitude of appreciation for everything that is happening in their lives. Teach them to be grateful for the wealth they already possess, not necessarily in currency, but more in health and friendship and more importantly, in family.

Dr Dan Amzallag, PhD, MBA, CLC

Author/Inspirational Speaker/Life Coach


The 4 Best Habits of Rich People | Brian Tracy

To change your life, you need to change your habits, to change your habits you need to change your self concept. What do you think? What do you want to change about your self concept and future?

Monday, 23 January 2017

Lessons from Millionaires

You may or may not want to become a millionaire. But there are certainly lessons you can learn from self made millionaires that will help you manage your finances better and will help you be financially free. Why is this important? Because it will give you the freedom to do the things you really want to do.

It can sound virtuous to say money doesn't matter to you but if you don't have it or you don't manage well what you do have then you can end up in debt and controlled by others. Many find themselves working many hours for the banks to pay off their credit cards or loans rather than helping their families or spending time doing things that can make a difference in the world.

So here are some of the lessons that you can learn from millionaires:

1)  Spend less than you earn - This is key. If you can't control your spending then you will never control your life or future destiny. Many self made millionaires are not ostentatious but quietly live simple lives. While being interested in quality they are not interested in brands for the sake of it. 

2) Save regularly -
Many self made Millionaires will make sure they regularly put 10% into long term savings. $100 saved from the age of 20 at an interest rate of 10% on a monthly basis will end up as $1,000,000 by the time you retire. I know it is hard to find this kind of interest rate immediately but as you build up savings you can learn about higher interest investments that will not be too risky.

3) Find out what people want and need and give it to them at a reasonable price. 74% of millionaires are those who have started their own businesses. Others are well paid executives who know how to manage their money well by saving and spending less than they earn. Believe it or not many well paid executives can be in constant debt or living from pay cheque to pay cheque. 10% of millionaires are doctors, lawyers and other professionals. 5% of self made millionaires in America are sales people.  So you can find a good product and sell it if that works for you. It is also now much easier to sell on line. The key here is that you find a need and meet it.

4) Add value to people. When you add value to others they will be open to paying for your help and services. You can add value to people in so many ways. By listening to them and helping them with a need. If you are doing a small job for them, then do it really well.

5) Whatever you do, do it with all your heart. Work hard and do things excellently for others. Go the extra mile and people will want you to continue to work for them.

6) When working for others look for additional things you could do for them to meet their needs and wants. There are many odd jobs people want done that they can't get around to do. You could be the person who provides a solution. Some call this up-selling. 

7) Always be a person of integrity and honesty. I was speaking to one businessman recently who told me his clients had been very loyal to him over many years. I asked him what had been the key to retaining customers and he said treating them well, keeping his word and turning up on time and doing a great job.

I hope these 7 lessons have given you some ideas of how you can increase your wealth and begin to be financially free. Perhaps even how you could become a millionaire. This does not just have to be for the sake of it. You can be free to do all the things you would really like to do and contribute to the world if you had the resources and were not bound to your present job.

This week I will post clips and articles of those who have learnt these lessons and more. Happy learning!

Friday, 20 January 2017

Barack Obama's Top 10 Rules For Success

Barack Obama is no longer the president of the US. Yet he was the first African-American president. Are there lessons we can learn from him that can change our lives and bring us success.

What Do Obama & Trump Have In Common When It Comes to Being Successful & Reaching Their Goals

Today is the transition between Obama and Trump taking up the most powerful political post in the world. In thinking about success are there any lessons that are common to both that we can learn? Although they come from opposing political views, what do they have in common when it comes to being successful?

Here are a few of the lessons they have both learned and taught about being successful:

1) Enjoy what you do and be passionate - Donald Trump talks about successful people not doing things for money but because they enjoy doing them. He also says you should love what you do if you are going to be successful. Barack Obama has also  emphasized that you should follow your passions. You need drive to succeed and this comes from enjoying and being passionate about what you do. Find something you enjoy doing and then find those who want and need your services or product.

2) Stick to your plan & never ever give up - Barack Obama talks about sticking to your plan if you want to be successful. Donald Trump puts it this way - never ever give up. He says his seen that sometimes those that are not the smartest do better because they never give up. When you know what you are passionate about and you have a plan - stick to it.

3) Be into the details and don't get complacent - Be into the details Trump says. Obama puts it this way - don't get complacent if you want to see something change. Be thorough with what you do and you will be celebrated and trusted for your excellence.

4) Stay totally focused - Stay focused says Obama. Stay totally focused says Trump.

5) Stand on the shoulders of giants - I have observed that neither Obama or Trump got to their place of success alone. Trump had a basis for his prosperity from his parents and Obama talks about not being able to do it alone. Others laid a foundation for him to succeed. If you are going to be successful make sure you find a mentor. They should be someone who has got where you want to get. They can help you get there. This may mean investing in them. But when we give we also receive. We must be prepared to learn and receive help from others and stand on the shoulders of giants.

There we are, a few lessons from the two presidents about being successful. Why don't you start your success journey today by putting these 5 things into action?

Alex Afriyie

Donald Trump's Top 10 Rules For Success (@realDonaldTrump)

Donald Trump becomes President of the US today. Do you think there are lessons to learn from him about success?

Sunday, 15 January 2017

5 Financial Lessons From Dr. Martin Luther King, Jr. BY LYNNETTE KHALFANI-COX

There’s proof that Dr. King’s call for freedom meant financial freedom as well. The Money Coach digs up the truth

 With the Martin Luther King, Jr. holiday, many people are remembering the social justice aspects of Dr. King’s life and work. But it’s also worth recalling that much of King’s activities had an economic component as well.
In memory of one of America’s most preeminent heroes, here are five financial lessons we can all learn from Dr. Martin Luther King, Jr.’s life and legacy.
Lesson #1: Don’t wait for economic change—create it
How many times have you complained about your workplace, your low pay, or something unfair that happened to you economically? Maybe a company denied you a job, some insurer rejected your insurance claim, or a bank turned you down for a much-needed loan, and you’re convinced your misfortune was racially motivated.
Maybe you’re right, or maybe you’re wrong. Either way, how do you plan to fix your circumstances and move forward positively?
Or perhaps you’re simply longing for better pay and more career success, but you’re stuck in a cubicle waiting to be recognized for your hard work while others are promoted left and right all around you.
Well, Dr. King didn’t just moan about social and economic injustice. He worked hard to change such wrongdoing. He protested. He lobbied. He went to jail. He sacrificed.
In his “Letter from a Birmingham Jail” in April 1963, King wrote: “Freedom is never voluntarily given by the oppressor; it must be demanded by the oppressed.”
What are you willing to do to create the economic realities you desire?
Lesson #2: Financial freedom is worth fighting for
One of my favorite sayings from Martin Luther King, Jr. is this:
“There is nothing in all the world greater than freedom. It is worth paying for; it is worth losing a job for; it is worth going to jail for. I would rather be a free pauper than a rich slave. I would rather die in abject poverty with my convictions than live in inordinate riches with the lack of self respect.”
Those are powerful words. And I like to think that King meant “freedom” in every sense of the word—including financial freedom.
In my opinion, though—and I really hate to say this—too many African-Americans who want financial freedom aren’t willing to seriously fight for it, nor take enough risks to get it.
We’ll fight for all sorts of things: just turn on The Real Housewives of Atlanta to see crazy fights over a bunch of nothing. But how come more of us aren’t out there fighting to teach our kids to be financially literate; fighting to help more Black men graduate from college; or fighting against poverty—even though we live in the richest country on the planet?
Winning these battles will promote generational and national economic security.
Lesson #3: Sometimes you need to step out on faith and take a risk
One of Martin Luther King Jr.’s most memorable quotes was when he said,“Faith is taking the first step even when you can’t see the whole staircase.”
Having faith and taking risks are necessary components to building wealth and managing one’s finances. So what are some ways to take prudent risks and achieve financial freedom?
You could start by something as simple as tuning out all the noise, the commercialism, and the “bling” culture that surrounds so many of us. So what if your friends are driving a new car every other year or spending their money on designer clothes?
Forget about buying into a materialistic, consumer culture, and focus instead on creating true wealth by investing for the future.
Unfortunately, far too few of us are doing this. It’s as if we truly believe that “Wall Street is a White man’s world,” as several Blacks have told me over the years.
Perhaps that misguided thinking explains why an Ariel/Hewitt study found that only 66% of Blacks contribute to their 401(k) retirement plans at work, compared a 77% 401(k) participation rate for Whites.
Also, among Blacks who do invest via company retirement plans, six in 10 African-Americans have less than $50,000 saved in those plans, while only 23% have more than $100,000 in these plans, according to a Prudential study called “The African-American Financial Experience.” Comparatively, 34% of Americans in general have $100,000 in company retirement plans, Prudential found.
Besides investing, another worthwhile risk is to go out and start your own business.
Stop worrying about a “steady paycheck” and don’t let the fear of failure hold you back. Have faith, do your homework, and start fighting for your economic future by taking the economic reins via entrepreneurship.
Soon enough your success will silence the naysayers. And what if your business fails? Trust me when I say that even if that happens, being your own boss will bring personal freedom that is its own reward.
Lesson #4: Your education, job or career status doesn’t define you
In the wake of job loss, the Great Recession, and other financial calamities, many people have become depressed, angry or bitter that they aren’t where they want to be, career-wise or economically. If King were here, he’d have none of that.
King once said, “Everybody can be great… because anybody can serve. You don’t have to have a college degree to serve. You don’t have to make your subject and verb agree to serve. You only need a heart full of grace. A soul generated by love.”
So don’t let your outlook be clouded by your title or your degree, or the lack of one. King reminded us all that you can go as far as your faith and hard work take you.
Lesson #5: Take your work seriously
Even though King taught us that we are not defined by our careers, I love that he nevertheless urged people to take their jobs and their callings in life seriously. He suggested that no matter how lofty or how common your profession, you should do it with honor and pride.
King said, “If a man is called to be a street sweeper, he should sweep streets even as Michelangelo painted, or Beethoven composed music or Shakespeare wrote poetry. He should sweep streets so well that all the hosts of heaven and earth will pause to say, ‘Here lived a great street sweeper who did his job well.’”
I appreciate King’s beautiful call to always work to the best of your ability, because ultimately the truly successful people in life are those with great work ethics.

Read more at EBONY http://www.ebony.com/career-finance/5-financial-lessons-from-dr-martin-luther-king-555#ixzz4VsVDhhcb 



Is Money Spiritual?

Is money spiritual? Can your wealth be affected by your values? Jesus said seek first God's Kingdom and righteousness and all these things will be added to you. Do you think by putting spiritual things first that material things will be provided. Has this been your experience? If so then make a comment below and let everyone know what your experience has been. Certainly the Hebrew Bible (Old Testament) has many passages that speak about wealth. He holds success in store for the righteous, He is a shield to those who walk in integrity (Proverbs 2: 7). The ancient Israelites were promised that God would give them the power to get wealth but it was to establish his covenant. Today we might say it was to do good with.

These days since so many have not gone to Sunday school or had spiritual guidance or have not been taught a code of values, there is a lack of integrity. We have seen this in the disastrous affects it has had on our banking system around the world. You need to have purpose to gain and appreciate money. Money will be attracted to you if you have a righteous purpose for it. What would be a good purpose? To provide for your family, to get your children through college, to buy a house. All these are noble things. Yet beyond that you should also have a cause bigger than yourself. Providing for orphans in Africa or supporting the end to world hunger. If God can get money through you, He will get it to you. When we do what is right by the universe or God's creation, then provision will be there.

You will see in some of the articles and clips this week that people will speak of principles for success and the law of attraction. I think when it comes to the law of attraction it is something that Jesus told us about in the Bible, 'Whatever you desire when you pray, believe you have received it and you shall have it' (Mark 11: 24). If you desire wealth for a noble purpose then you can have it. It will come to you, if you let it flow through you. Give and it will be given to you. True success is to be an instrument for good.

Thursday, 12 January 2017

Dave Ramsey , "The Emergency Fund" Money Makeover - 4/10

The emergency fund stops emergencies being emergencies. No more panic. What do you think of doing this?

Dave Ramsey, "Debt Snowball" Money Makeover - 3/10

Time to get out of debt and build your wealth in 2017. What do you think of the debt snowball?

5 Simple Ways to Make Any Financial Goal Easier to Achieve by Trent Hamm

Trent Hamm

All of us have financial dreams.

We'd like to be completely free from debt. We'd like to retire early. We'd like to build our dream home. We'd like to pay for our children's college education at a top school. We'd like to open our own shop.

The challenging part is transforming those financial dreams into financial goals. Taking something so enormous and so nebulous and turning it into something that you can actually achieve in a specific timeframe is hard. It's not easy for anyone, even the people who achieve their goals.

Regardless of your specific goal, there are five steps you can take that will drastically increase your chances of success.

1. Create a detailed but flexible plan. Ask yourself: How exactly are you going to get from where you're at to where you want to be? What is the timeframe you desire for achieving that goal? What do you have to achieve each year to make it? Each month? 
Your plan for achieving your goal should involve clear answers to all those questions. At the same time, it should allow for some flexibility, as you never quite know what the future will hold for you. Naturally, major life changes might upend a financial goal, but many goals are actually ended by minor life issues.
Your entire plan shouldn't fall apart if you struggle to make one step of the plan. Instead, your plan should flex a little to account for that.

2. Add a healthy dose of reality to that plan. How do you add that kind of flexibility? The best thing you can do is make sure your plan is based in reality.
Quite often, people establish savings goals or other goals that are simply outside the realm of what can easily be achieved. A person who lives paycheck to paycheck isn't suddenly going to be debt-free in a year.
Instead, look at what you can realistically pull off. If you are setting a goal for debt freedom in five years, can you realistically come up with 1/60th of that amount this month? If your goal isn't realistic in the short term, it won't be realistic in the long term.

3. Set small milestones
In fact, focusing on shorter time frames is a powerful way to achieve a financial goal.
Let's say your goal is to save $50,000 for seed money for a business. Rather than setting such a large number as your goal after, say, five years, break it down into smaller milestones. Your goal is to save $10,000 this year. Your goal is to save $800 this month. You need to save $175 this week.
When you break your goal down into small pieces with milestones, the day-to-day actions you need to take to achieve those goals becomes clearer. It's easier to figure out how to save $175 this week than how to save $50,000 over the next five years.

4. Automate it. Once you have your goal broken down into small milestones, automate the entire plan. Set up an automatic savings transfer at your bank that transfers $175 per week to a savings account.
Doing this serves two purposes. First, it locks you into a plan that moves you toward your goal without having to make active decisions along the way. Second, it puts you in a position where you focus on dealing with how to live after making room for your goal – not trying to decide whether to make room for it.

5. Keep it out of easy reach. Once your saving begins, it can be very tempting to tap into that money for other purposes. But there should be no way for you to access that money immediately because impulsive decisions will do nothing but undermine your goal. You should not be able to access your savings via an ATM card, for example.
Instead, save your money in a remote financial institution. The decision whether to use a savings account at a bank or an investment account at an investment house is up to you, but your savings for your goal shouldn't sit in a place where you can grab it at a whim. That's what an emergency fund is for.
Taken together, these steps can help guide you toward almost any financial goal you can imagine. All that's needed is the dream and the commitment.

Trent Hamm is the founder of the personal finance website TheSimpleDollar.com, which provides consumers with resources and tools to make informed financial decisions.

Wednesday, 11 January 2017

Dave Ramsey, "Baby Steps" Money Makeover - 2/10

Dave Ramsey "Budgeting" Money Makeover - 1/10

Personal Finance: Sound Money Habits To Start Now - By Mick Manley

Expert Author Mick Manley
"I just got my tax refund, it's time to go on a vacation!" I can't tell you how many times I heard this growing up and now see daily on social media. I recognized early in life that the way I managed money was very different than most people I knew. It has always puzzled me because I never quite understood how people could spend money without ever giving a second thought to saving or retirement. Following are some basic habits you can start now to help secure your financial security in the future:
1. Saving for retirement as early as possible is the most beneficial thing you can do. Even if it is just $50 per month, which is the minimum for most plans, you could be setting yourself up with thousands upon thousands of dollars at retirement. The earlier the better. For example, a 25 year-old who saves $200 a month until age 65 and earns exactly 6% on saved funds annually would have accumulated around $400,000. But a 40 year old contributing the same amount each month at the same earnings rate would have accumulated only $139,600 by age 65.
2. Never carry a balance on a credit card with an interest rate. This is one of the fastest ways to build an amount of debt that could burden you for the rest of your life. When you do need to use credit and you're unable to pay in full each month, seek out a 0% interest card. Many promotions are from six moths up to a year or more. If used responsibly, they are essentially a free loan. Just be certain to pay their entire balance before then end of the term or you'll end up with retroactive interest that could add hundreds of dollars (if not more) to your obligation.
3. Instead of buying a new car or a lease, try to save up and buy a good used car for cash. What you save between interest, depreciation, taxes, plates and insurance will save you thousands. According to Edmunds.com, buying a car that is two years old is your best bet because you avoid the biggest depreciation drop. Owning it for three years and then selling will also benefit you because you see another large drop after year five due to long-term maintenance that is generally required at that point. If you cannot afford a two-year old car without having to borrow, then getting one a little older with the long term maintenance repairs done (and low miles if possible) is your best bet.
4. Avoid eating out if you can. The average American eats out 4-5 times per week spending on average $232 per month or about $2,700 per year. If you skipped eating out for two years you would have actually saved enough to buy a good used car like point three above.
5. The last thing, and arguably the most important, is thinking long-term. The worst way to justify spending is doing so on an individual basis versus the monthly or yearly aggregate. Take eating out for example: while it might only cost you $10 a meal, don't fail to consider that if you did this three times per week for a year, you would have spent more than $1,400. This same logic can be applied to virtually anything-clothes, vacations, furniture, coffee, expedited shipping etc. Anytime you're about to spend money think to yourself, okay, how much will this end up costing me each year.
For more about me check out http://www.mickmanley.com/


Tuesday, 10 January 2017

Dave Ramsey: Wealth Building and Compound Interest

How To Save Money By Simplification - By Keye Wu

Expert Author Keye Wu

If you want to be wealthy, you must start saving money. This applies no matter how big an income you have, you must simplify your life so money will never worry you. Below are 6 quick ways you can use to start doing so.

#1 Use cash 

When you buy something, pay for it with cash. This includes groceries, gas, anything and everything. We often overspend without realizing it when we use credit or even debit cards. If you are using cash, you know exactly how much you can spend so you won't end up with surprising overdraft fees.

#2 Unload unused stuff 
Everyone sells their stuff online nowadays, but it's still worth mentioning. If you have collectibles, unique or high ticket items sitting around gathering dust, unload it and put that cash in your emergency fund or savings account.

Don't have anything nice enough to sell online? Have a garage sale. Or just donate it all if the thought of having a garage sale makes you cringe. The tax write-off for donations is an added bonus for gifting stuff you don't use.

#3 Cancel unnecessary subscriptions 
Most people have at least one subscription that they never use. It might be a magazine subscription, weight loss program, a podcast, TV streaming app or a gym membership. It's one of those things you always mean to get around to but never do, and it's costing you every month. It feels great to plug your money holes and put that little bit each month into your savings account!

#4 Start a garden 

Unlike adding more work to your life, gardening is a relaxing and healthy way to spend time alone or with your family. The garden doesn't have to be huge to make a dent in your grocery bill, and it can be a solace after a long day at work. Gardening is also a great thing to get your kids involved in so they understand where their food really comes from - not wrapped in plastic at the local store.

#5 Make your own meals 
Besides making your money go farther, you will also avoid a lot of additives and chemicals that add to medical costs long-term. You will find that once you aren't rushing around all the time, you won't feel the need to pick up take-out food or run through a drive-through to save time. It's a win-win-win.

#6 Pay off debt 
Almost everyone has debt, and most people have more than they are comfortable with. Excluding your mortgage, find out how much you really owe in total and then make a plan to pay it all off. You will save untold amounts of money in interest (and late fees), plus you will lighten your emotional burden too.

Money stress is one of the most insidious stressors in our modern world. Simplifying your life means buying less stuff and getting out from under all the clutter-physical, mental and emotional.


11 Ways to Get Out of Debt Faster - By Holly Johnson

It pays to have a strategy -- or at least a side hustle.
Picking up a seasonal part-time job is one way to put a bigger dent in your debts. Photo: Home Depot
As of early 2015, the average American household owed $7,281 on their credit cards. And when you remove debt-free households from the equation — people with either no debt or no credit to speak of — the average debt load was more than double that, at $15,609.
Add in the fact that the average 2015 college graduate will leave school with more than $35,000 in loans, and it’s easy to see how so many people are struggling — and why some choose to bury their heads in the sand. For many in debt, the reality of owing so much money is too much to bear to face — so they simply choose not to.
But sometimes, disaster strikes and people are forced to confront their circumstances head-on. A series of unfortunate events — a sudden job loss, an unexpected (and expensive) home repair, or a serious illness — can knock one’s finances so off track they can barely keep up with their monthly payments. And it’s in these moments of disaster when we finally realize how precarious our financial situations are.
Other times, we just become sick of living paycheck to paycheck, and decide we want a better life — and that’s OK, too. You shouldn’t have to confront disaster to decide you don’t want to struggle anymore, and that you want a simpler existence. For many people, becoming debt-free the hard way is the best and only way to take control of their lives and their futures.

How to Get Out of Debt Faster
Unfortunately, the space between realizing you need to pay off debt and getting out of debt can be wrought with hard work and heartache. No matter what kind of debt you’re in, paying it off can take years — or even decades.
Fortunately, some strategies exist that can make paying off debt faster — and a whole lot less painful. If you’re ready to get out of debt, consider these tried-and-true methods:

Strategy #1: Pay more than the minimum payment.
If you carry the average credit card balance of $15,609, pay a typical 15% APR, and make the minimum monthly payment of $625, it will take you 13.5 years to pay it off. And that’s only if you don’t add to the balance in the meantime, which can be a challenge on its own.
Whether you’re carrying credit card debt, personal loans, or student loans, one of the best ways to pay them down sooner is to make more than the minimum monthly payment. Doing so will not only help you save on interest throughout the life of your loan, but it will also speed up the payoff process. To avoid any headaches, make sure your loan doesn’t charge any prepayment penalties before you get started.

Strategy #2: Try the debt snowball method.
If you’re in the mood to pay more than the minimum monthly payments on your credit cards and other debts, consider using the debt snowball method to speed the process up even more and build momentum.
As a first step, you’ll want to list all of the debts you owe from smallest to largest. Throw all of your excess funds at the smallest balance, while making the minimum payments on all your larger loans. Once the smallest balance is paid off, start putting that extra money toward the next smallest debt until you pay that one off, and so on.
Over time, your small balances should disappear one by one, freeing up more dollars to throw at your larger debts and loans. This “snowball effect” allows you to pay down smaller balances first — logging a few “wins” for the psychological effect — while letting you save the largest loans for last. Ultimately, the goal is snowballing all of your extra dollars toward your debts until they’re demolished — and you’re finally debt-free.

Strategy #3: Pick up a side hustle.
Attacking your debts with the debt snowball method will speed up the process, but earning more money can amplify your efforts even further. Nearly everyone has a talent or skill they can monetize, whether it’s babysitting, mowing yards, cleaning houses, or becoming a virtual assistant.
With sites like TaskRabbit.com and Upwork.com, nearly anyone can find some way to earn extra money on the side. The key is taking any extra money you earn and using it to pay off loans right away. If you’re looking for ideas, check out 50 Side Businesses You Can Start on Your Own.

Strategy #4: Create (and live with) a bare-bones budget.
If you really want to pay down debt faster, you’ll need to cut your expenses as much as you can. One tool you can create and use is a bare-bones budget. With this strategy, you’ll cut your expenses as low as they can go and live on as little as possible for as long as you can.
A bare-bones budget will look different for everyone, but it should be devoid of any “extras” like going out to eat, cable television, or unnecessary spending. While you’re living on a strict budget, you should be able to pay considerably more toward your debts.
Remember, bare-bones budgets are only meant to be temporary. Once you’re out of debt — or a lot closer to your goal — you can start adding discretionary spending back into your monthly plan.
Strategy #5: Sell everything you don’t need.
If you’re looking for a way to drum up some cash quickly, it might pay to take stock of your belongings first. Most of us have stuff lying around that we rarely use and could live without if we really needed to. Why not sell your extra stuff and use the funds to pay down your debts?
If you live in a neighborhood that permits it, a good old-fashioned garage sale is normally the cheapest and easiest way to unload your unwanted belongings for a profit. Otherwise, you can consider selling your items on one of the various online marketplaces outlined in this post: Beyond eBay: Six Better Ways to Buy, Sell, and Trade Stuff Online

Strategy #6: Get a seasonal, part-time job.
With the holidays coming up, local retailers are on the lookout for flexible, seasonal workers who can keep their stores operational during the busy, festive season. If you’re willing and able, you could pick up one of these part-time jobs and earn some extra cash to use toward your debts.
Even outside of the holidays, plenty of seasonal jobs may be available. Springtime brings the need for seasonal greenhouse workers and farm jobs, while summer calls for tour operators and all types of outdoor, temporary workers from lifeguards to landscapers. Fall brings seasonal work for haunted houses, pumpkin patches, and fall harvest.
The bottom line: No matter what season it is, a temporary job without a long-term commitment could be within reach.

Strategy #7: Ask for lower interest rates on your credit cards — and negotiate other bills.
If your credit card interest rates are so high it feels almost impossible to make headway on your balances, it’s worth calling your card issuer to negotiate. Believe it or not, asking for lower interest rates is actually quite commonplace. And if you have a solid history of paying your bills on time, there’s a good possibility of getting a lower interest rate. 

Beyond credit card interest, several other types of bills can usually be negotiated down or eliminated as well — we highlighted them in Six Bills You Can Negotiate Down to Save Money. Always remember, the worst anyone can say is no. And the less you pay for your fixed expenses, the more money you can throw at your debts.

Strategy #8: Consider a balance transfer.
If your credit card company won’t budge on interest rates, it may be worth looking into a balance transfer. With many balance transfer offers, you can secure 0% APR for up to 15 months, although you might need to pay a balance transfer fee of around 3% for the privilege.
The Chase Slate card, on the other hand, doesn’t charge a balance transfer fee for the first 60 days. Further, the card offers a 0% introductory APR on balance transfers and purchases for the first 15 months. If you have a credit card balance you could feasibly pay off during that time frame, transferring the balance to a 0% introductory APR card like this one could save you money on interest while simultaneously helping you pay down debt faster.
Strategy #9: Use ‘found money’ to pay off balances.
Most people come across some type of “found money” throughout the year. Maybe you get an annual raise, an inheritance, or bonus at work. Or maybe you count on a big, fat tax refund every spring. Whatever type of “found money” it is, it could go a long way toward helping you become debt-free.
Each time you come across any unusual sources of income, you can use those dollars to pay off a big chunk of debt. If you’re doing the debt snowball method, use the money to pay down your smallest balance. And if you’re left with only big balances, you can use those dollars to take a huge chunk out of whatever’s left.

Strategy #10: Drop expensive habits.
If you’re in debt and consistently coming up short each month, evaluating your habits might be the best idea yet. No matter what, it makes sense to look at the small ways you’re spending money daily. That way, you can evaluate whether those purchases are worth it — and come up with ways to minimize them or get rid of them.
If your expensive habit is smoking or drinking, that’s an easy one — quit. Alcohol and tobacco do nothing for you except stand between you and your long-term goals. If your expensive habit is slightly less incendiary – like a daily latte, restaurant lunches during work hours, or fast food — the best plan of attack is usually cutting way down with the goal of eliminating these behaviors or replacing them with something less expensive.
Strategy #11: Step away from the _____.
We’re all tempted by something. For many, it might be the local mall or our favorite online store. For others, it might be driving by a favorite restaurant and wishing we could pop inside for a favorite meal. And for those with a penchant for spending, having a credit card in their wallet is too much temptation to bear.
Whatever your biggest temptation is, it’s best to avoid it altogether when you’re paying down debt. When you’re constantly tempted to spend, it can be difficult to avoid new debts, let alone pay off old ones.
So, avoid temptation wherever you can, even if that means taking a different way home, avoiding the Internet, or keeping the fridge stocked so you aren’t tempted to splurge. And if you must, stash those credit cards away in a sock drawer for the time being. You can always bring them back out once you’re debt-free.

The Bottom Line
It’s easy to continue living in debt if you never have to face the reality of your situation. But when disaster strikes, you can gain a brand new outlook in a hurry. It’s also easy to get sick of the paycheck-to-paycheck lifestyle, and look for ways to get out from under the crushing weight of too many monthly payments.
No matter what type of debt you’re in — whether it’s credit card debt, student loan debt, car loans, or something else — it’s important to know there is a way out. It may not happen overnight, but a debt-free future could be yours if you create a plan — and stick with it long enough.
No matter what that plan is, any one of these strategies can help you pay off debt faster. And the faster you become debt-free, the quicker you can start living the life you truly want.

What are some strategies you have used to pay down debt quickly? Have you ever tried anything on this list?