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Are You Ready For a Financial Challenge?

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<p>In more recent years internet challenges have become extremely popular. Usually they last the span of anywhere from one week to an entire year and, for the most part, they seem to help people reach their goals. From a 30 day squat challenge to a 365 day money challenge, these online competitions are pushing people to better themselves. But, outside of saving pennies a day, how can these online challenges help you financially?</p>::Pexels
In more recent years internet challenges have become extremely popular. Usually they last the span of anywhere from one week to an entire year and, for the most part, they seem to help people reach their goals.

From a 30 day squat challenge to a 365 day money challenge, these online competitions are pushing people to better themselves. But, outside of saving pennies a day, how can these online challenges help you financially?

Money Challenges

If you’ve been looking for financial challenges, you’ve probably already come across the 52 week money challenge and 365 day money challenge (and all the savings challenges in between). You may have also seen things like the “Debt Snowball Challenge” and other debt payoff challenges.

What I’ve found, however, is that there are very few internet challenges that challenge you to look at all of your finances at once. Why not challenge yourself to become involved in your finances?

As you know from previous posts, I just recovered from a financial crisis within the past few months. I’m finally in a place where I can start saving, paying off more debt, investing and simply bettering my life all around. So, I decided to challenge myself to become immersed in finance. Here’s the plan:

My Personal Financial Challenge

  • Budget. Budgeting is not my strong suit but I have made it a significant part of this challenge. While seeking new ways to make some extra cash, I will also be looking for places to trim my budget on a weekly basis. This will mean going out a lot less, eating out a lot less and really tracking my spending closely. To do this, I’ve picked out a couple helpful apps (Mint and Daily Budget).
  • Save. I’ve set a goal of saving $400 per month. This is feasible if and only if I stick to my budget closely. So, I’ll be using the apps mentioned. I will also be putting aside any change and any $1 bills I receive from a cashier at checkout to put aside. With my weekly savings and this, I’ll easily get $400 saved each month.
  • Invest. Part of that savings will be in investments. I am only starting out investing $20 a month. Currently, I am using Acorns to manage my small contributions to my investment portfolio. However, as my financial situation continues to improve I will be able to contribute more and more to this. I also plan on placing some savings into a Roth IRA before the end of the year, which will help prepare a stable financial future.
  • Pay Off Debt. Prior to moving, I paid off a sizable amount of debt. There is still a few hundred dollars that need to be paid off in medical debt that I will be tackling throughout this challenge series.
  • Build Credit. Sometimes paying off debt and building credit can clash. However, I’ve opened two very low ($300 each) credit cards that will help me further establish my credit. I buy everyday items on the cards and pay them off in full each month. I hope to see a raise in my credit score within a month.

I Challenge You!

All of that to ask you, what would you like to better about your life financially? Are you willing to both share and face your challenge with me? Take the plunge and challenge yourself to become financially fit.

Want to chat about your financial challenge? I’d love to hear from you!

Why Doing Headstands Will Improve My Financial Outlook and More…

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<p>Throughout my entire pregnancy, I practiced yoga. I went to two or three classes every week up until I gave birth and it became something I really enjoyed. I was eager to practice again once my doctor cleared me for physical activity. There were so many awesome poses that I just simply couldn’t do with a nine-month prego belly (and others that just weren’t safe while I was pregnant). So, at the beginning of the year I set up one-on-one yoga sessions with my instructor/friend.</p>::Pexels

Throughout my entire pregnancy, I practiced yoga. I went to two or three classes every week up until I gave birth and it became something I really enjoyed. I was eager to practice again once my doctor cleared me for physical activity. There were so many awesome poses that I just simply couldn’t do with a nine-month prego belly (and others that just weren’t safe while I was pregnant). So, at the beginning of the year I set up one-on-one yoga sessions with my instructor/friend.

My goal for my practice? Headstands. 

Why Headstands?

I’ll preface this by saying I practice with a YogaFaith instructor. My first true goal when I roll out my yoga mat is to get closer to God. I usually bring a Bible verse with me to think about while I hold poses and breathe. This has brought me a lot of peace over the last year or so. My time on my mat is time to spend with Jesus and time to spend with myself.

As I’m sure you know if you have followed the blog for a while, I am a fan of reflecting. Yoga is a chance to do that in a quiet, supportive environment while also working towards a physical goal. For me, my 2022 yoga practice is focused on the idea of grace. One of the verses I’ve been bringing to my practice is this…

Let us then approach God’s throne of grace with confidence, so that we may receive mercy and find grace to help us in our time of need. – Hebrews 4:16

Do I always feel confident or graceful when attempting a pose that demands balance? Absolutely not. There are times I feel like a newborn baby gazelle who can’t use its legs properly. When I lay those insecurities at the feet of Jesus, I can do anything. I am full of His grace.

My First Headstand

I’m about five one-on-one sessions into my practice for the year. I have already made huge strides in what I wanted to do. My balance is improving, the connection between my breath and the way my body moves is there.

What many people don’t realize is that, while yoga does take a certain amount of strength, much of that strength comes from focusing your energy inward. When I put my shoulders into the inverted yoga chair and kicked my legs up for my first assisted headstand, it was amazing! I decided to take that energy and focus and discover other places where it could positively impact my life.

How Headstands Will Help Improve My Finances and Beyond

As I said, doing a headstand takes a lot of focus, but you also have to be extremely self-aware. Your body will always let you know when you should stop when it comes to exercise, stretching, etc. Actually, your body probably let’s you know when to stop other things too, but most of us ignore it. My goal is to listen to that intuition more.

From a financial standpoint, headstands are training me to be more patient, focus on the end goal, and be more aware. Every move I make has an impact on the integrity of my headstand and, potentially, my safety. The same is true of my finances. Every dollar I spend (or don’t save) has an impact on my long-term financial health. The same can be said of my health, relationship, and creative goals.

Take some time to think about what would help you truly focus. Meditation, regular exercise, and even simply journaling can help you make progress. What works for you?

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How to Start Your Own Project Management Company

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Making your way in the world when it comes to your career is a tricky road. Learning how to navigate it can take an entire lifetime. You’re faced with twists and turns that you didn’t even imagine existed. So what happens if you’re not satisfied just following a basic path; what if you want to make your own way and be the one in control of your career? This is exactly why so many people choose to start their own company.

One field that is extremely popular with those looking to head up their own business is project management. As a project manager, you’ll be the one in charge of the planning and execution of various projects that you take on. It’s something new and exciting each and every day, which adds to the allure. Here’s a look at the steps you can take that will allow you to start your own project management company.

Start with an Educational Foundation

Before you can even think about starting up your own project management company, it’s necessary to get the proper educational foundation. What this means is enrolling in a masters in project and program management program. You can even enroll in an online MSMPP program, which will allow you to obtain the degree while working on the side.

By earning your degree you will be arming yourself with the most-up-to date tools, knowledge, and skills that are required to successfully manage projects.

Specialize in a Particular Industry

Another tip is to become an expert in one particular industry. This will help you to gain the upper-hand in that industry, which will set you apart from the competition. You’ll want to start specializing as early as possible so it’s clear from the start where your focus is.

Build a Marketing Plan

It’s pretty hard to build a company and make it successful if people don’t know about you and don’t know how to find you. This means you need a marketing plan. How do you plan to reach potential customers, where will you do this, how often, and how will you follow up with potential clients.

In today’s landscape, social networks tend to be an excellent place to market your services. What this means is that you need to be active on social networks such as Twitter, Instagram, and Facebook. You’ll also need a website that is SEO optimized, is user-friendly, and provides people with a reason to visit it. Adding a blog to your website can definitely help.

Get Out and Network

When it comes to starting your own business, no matter what industry it is in, networking is an absolute necessity. Attend industry events, seminars, conferences, and look into cross-promoting with other companies. The larger your network, the more opportunities will be open to you.

Keep at It

No-one has ever said that starting your own business is an easy process. It takes time, energy, motivation, and perseverance. All of this work just helps to make it more rewarding when your business does become a success.

Ways to Improve Your Chances Of Winning Sports Betting

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Gambling is a kind of addiction to mind. By its nature, it is a method of filling your time and trying to make money.  But those who are into a healthy betting and do it sensibly, they can make it fun and exciting to be a part of sports.

Sometimes it may result in an uncertain outcome as it is all about finding the best value for money. So, do you know the ways to make the most of your bet? Do you know the tricks to get the best?

There are many things to take care of, like the right market, the best time to put your bet on and other little things. These things are like a guide for you to see if you can make the most from your gambling experience. By following an approach that is structured, better can possibly win more than losing. Here are a few ways out that can help a gambler to have a winning bet on sports:

Look around for bookmakers, do not stick to one

In the competitive sector of betting business, there is a big emphasis on brand loyalty. The companies will try to convince you to choose them for bet through various loyalty schemes. They all have the same intention and it’s on you to choose the best. Shop around the best bookmakers who has the best price for the market you want. Check the offers available and as a result, bookies all have their own spin on it.

Know the bookmakers and their odds

At times, the popularity of the event you are betting on will determine the odds of the bookmakers. Their odds will be a reflection of what bookmakers expect the general public to play and actually not the real probabilities of either outcome. They will set their odds in order to attract the betters on their side and to balance their liability. So, choose wisely and opt to play with reputable ones like sports.williamhill.com/ who offers fair odds across all markets, even promotions. Calculate the margins of smart bookmakers, to find great value for your events and a profitable strategy.

Keep the past away and do not celebrate for too long

In the past, whether you lost or win, do not let it run throw you off your game. Keep it out of the league, out of your mind and start a new analysis. The spin will surely be on your side. Also, do not assume a false courage due to some past experience. Stick with your plan, have a good analysis.

Develop a long term stability

Who doesn’t want to get rich quickly, but that is not actually possible. It is a long term process. Getting rich through betting involves stability. You need to build a betting bankroll to increase the amount you bet on each game. When you steadily gain a stability you will find yourself making a decent pocket money and maybe also living wage out of it.

Maintain the records

Keeping a record of your betting game will help you in long term success. Keep a record of your betting by having a spreadsheet that will track your bets, the odds and what other things you want to add regarding your matches you bet on. When you do this, your betting will become more disciplines and it will assist you to keep a track of your profit and loss during every bet. Overall, it will enhance your betting discipline.

So, in a nutshell, follow these ways to have a win-win betting.

Dear Best Friend, Here Are The Reasons I’m Not Loaning You That Money

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<p>"Can you loan me some money? Just until I get back on my feet?” Many of us have been in the position where a friend or family member is asking for financial assistance. If you’re like me, you’ve even gone into debt loaning that money. If the person is close to you, it may be hard to say no. However, there are plenty of reasons you have to say no without feeling bad.</p>::Pexels
“Can you loan me some money? Just until I get back on my feet?”

Many of us have been in the position where a friend or family member is asking for financial assistance. If you’re like me, you’ve even gone into debt loaning that money. If the person is close to you, it may be hard to say no. However, there are plenty of reasons you have to say no without feeling bad.

Dear Best Friend,

  1. I won’t be able to loan you the money you are asking for because I don’t have it. Even if this is a little, white lie, and you do have some spare cash lying around, you never had cash set aside for your friend, sister, mother or brother’s financial emergency. Look out for yourself first.
  2. I’m not loaning you that money because you couldn’t tell me what you are doing with it. Remember, if you are willing to loan someone money they should at least be willing to tell you what they need the money for.
  3. The reason I’m not loaning you that money is that you’ve never paid me back. Don’t get burned twice. If someone has already borrowed from you and left the loan unpaid, don’t lend them more cash. You’ll just keep digging yourself into a deeper hole.
  4. Another reason I’m not going to loan you any money is that you just spent a ton of unnecessary money. Tons of people spend money on new clothes and flashy things and then need to ask friends and family for money. Oftentimes, they pull their loved ones into debt with them.
  5. Lastly, I cannot afford to lose the money. Every time you lend someone money you are basically gambling it (except without any possibility of gaining more, unless you charge interest). You have to be able to afford to lose the cash you lend in the event that your friend or relative doesn’t pay you back.

I Will Still Help…

Although I won’t be loaning you that money, I will still help, and you can help your friends and family in a financial crisis too. Here’s how:

  1. Go over expenses with them. Offer to help them take a look at their finances. If you’re doing well financially, you may be able to help them get on their feet and stay there.
  2. Sit down and help them make a budget. Once you look at where their money is going, set up a loose budget with them. If you’re already budgeting, you can help your friend or family member better understand theirs.
  3. Identify places they may be able to trim. Talk with them about areas they may be able to scale down on (i.e. clothing cost, eating out, grocery bill, electricity, and water). Then help them decide on a way to track their spending and budget. (There are plenty of helpful apps and other tools.)
  4. Construct a savings plan. Once you’ve trimmed up the budget a bit, then help them establish a savings plan (even something as simple as the 52 Week Money Challenge). Even if it is only a few dollars here and there, it can make a world of difference.
  5. Provide support. If you’re able to provide your friend or relative with a little financial advice, you can also provide them with support moving forward. Personal finance doesn’t come easily for everyone. To prevent them from continuing the same cycle, provide them with continuous verbal/emotional support of their savings plan and goals and constantly remind them of what they are working towards.

Loaning people money is a sticky area. Don’t feel like you have to give anyone anything, especially if you truly don’t have the money to do so. Have you ever turned someone down for a loan? What was your reasoning? 

Photo: The One Thing

Our Monthly Debt Freedom Progress Report — August 2015

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I know, I know.

This is a little late since we’re already into October, but I wanted to catch you up on our numbers for the summer.

Since I took a little break from blogging over the summer due to our move, last week I brought you our June and July 2015 Debt Freedom Progress Report. And this week, I’m catching you up on how much debt we paid off in August when we downsized and moved into our dream house!
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Why You Need Life Insurance

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Young people in their 20s don’t think of life insurance as something that’s a necessity for themselves. Yet they are at the perfect age to buy a term or whole life insurance policy to take care of outstanding debts in case they die prematurely. And because young people are far more likely to carry a heavy debt load straight out of college, they need something to protect family members who co-signed for the loan. Or leave money to cover any expenses including the funeral and unpaid credit card bills. These are thoughts that no one likes to think as they’re a bit morbid, but it is a reality of life.

Young adults have the benefit of being in what’s known as a low-risk pool for insurers. They’re far less likely to have serious or life-threatening illnesses, and insurers reward that with lower premiums. The same goes for term or whole life insurance. And even though term life insurance only lasts for so long, it’s still worth buying while young. One reason is that life circumstances change over time. Someone who’s single in their 20s may be married in their 30s and raising a family. In the event they have an untimely passing in their 50s, they may still have a term life insurance policy in effect that benefits those who survive.

Take the quiz below to see how much you know about the benefits of getting life insurance at a young age. You might be surprised at what you learn!