Spending plan, cash flow plan, budget.
I don’t care what you call it.
You need to have a plan for your money.
[Read more…]
The Importance of Meal Planning
Check out the success I’ve had meal planning!
What is Meal Planning?
Meal planning is exactly what it sounds like. You sit down and plan out your meals for the week (or however long you wait between store trips) and then stick to the plan. As stated above, many people do this for weight-loss purposes. By planning out your meals you can have better control over your calorie intake and other nutritional factors. The same goes for meal planning and your budget, which is exactly why you should be doing it.
Why You Should Be Meal Planning
Planning out your meals can help you stick to a food budget. You’ll want to pick similar main ingredients for dishes throughout the week to save money. For example, you may pick up a pack of chicken breast for $15, which is a lot if you’re shopping on a $50/week budget. However, you will be able to make almost a week’s worth of dinner from that pack of chicken with proper meal planning. You may also want to be sure you have a list of all of your regular kitchen staples (which varies for everyone). Having a plan and lists prepared can seriously help you stick to your budget.
How to Create a Meal Plan
If you’re new to meal planning, don’t worry! I’d never even put thought into planning out my meals for the week until I started working out more. Once I started planning meals for the week and I started to see the positive affect it was having on me physically and financially I knew I’d stick with it.
To create a meal plan you first have to break down your meals of the day: breakfast, lunch and dinner (and sometimes snacks). Then write down some of your favorite meals for each (you’ll want to incorporate those into your meal plan from time-t0-time. Once you’ve got your favorite meals listed, also include some cheaper low-energy meals like spaghetti or PB&J.
After you’ve got a list of meals you’ll want to break down your meal plan on a calendar (check out this how-to on MyFitnessPal) and stick to it. Sticking to a meal plan saved me $20/week ($80/month) simply because I had a plan and wasn’t eating out anymore or grabbing last-minute food at the store’s deli. You could be saving just as much if you start meal planning now!
Do you meal plan? Have you seen any financial benefits?
Photo: Fix.com
Like this article? Other readers also enjoyed:
How to Start Your Own Project Management Company
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.
Three Things Single People Should Do If They Want to Be Smart With Their Money
If you are single and want to be smart with your money, you face different challenges and advantages than married people.
Last week I wrote a post about two things you should do before starting your debt free journey. Because I am married and this blog is called “Our Debt Free Family,” I focus my writing primarily toward married couples and young families.
But I have received some requests to write to the single person’s perspective.
Our Monthly Debt Freedom Progress Report — August 2015
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!
[Read more…]
Ways to Improve Your Chances Of Winning Sports Betting
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.
10 Ways to Save For a Home in a Hurry
So, you’re ready to buy a home but don’t know where to start when it comes to saving. You probably have bills now (rent, utilties, car payment, etc.) and now you’re trying to save thousands of dollars for a down payment on a home. How do you do it?
How to Save for a Home
There is no “fast” way to save for a home. When it comes to saving, finding focus and consistency lead to success. So, how do you go about successfully saving for a house? Here’s where you can start:
- Get an idea of the buyer-seller market in your area. Of course, everyone has their idea of a dream home but buying a lower cost home may help you in the long run. After years of adding to the home and any renovations you may have made, your equity will go up and you’ll be more likely to be able to afford a higher priced home in the future.
- Automate your savings. Most banks have an option to automatically deposit cash into your savings account. For instance, if you get paid on the 15th each month and want to put $200 of each check into savings you can set it up to transfer on the 16th. Doing this ensures that you won’t forget to save (or find a reason not to).
- Save every extra penny you can. In addition to automated savings, try to save 100% of all windfalls. This includes bonuses, gift money, and prizes. You may also consider participating in a money challenge to encourage healthy saving habits.
- Don’t lose focus. Saving for a home can be consuming. Don’t lose focus on the other important things in life. For instance, if you are saving for a home it would be counterproductive to skip paying your rent. Although you don’t want to be renting any longer, you still need a place to live. Saving for your home is important but so is maintaining good personal finance practices.
- Budget. Budget. Budget. Create a budget and stick to it. Budgeting will help you realize where you can cut expenses and where you can’t. This will help add to the savings for your home.
- Generate more income. If you want to save more money fast, you may want to consider looking for ways to make more money.
10 Ways to Speed Up Saving for a Home
- Ask for a raise. If you’ve been at your job for a while, ask for a raise. Negotiating a raise can be intimidating but remember that your time is worth money. Walk into the negotiation knowing what you’re worth and so will they. Having additional money each check will help you save for your home.
- Get a second job. Maybe you aren’t able to get a raise with your current employer. If that’s the case search for a second job. Consider weekend and part-time positions that won’t add too much to your plate but will help you save.
- Downsize your current living situation. Not everyone is able to do this but you can “generate” more income by downsizing for a short period before buying your home. Many couples move back into their parent’s home when saving to buy their own.
- Have a yard sale. Almost everyone has junk in their house they could get rid of and, chances are, there is someone out there willing to buy it and add it to the junk at their home. Hold a yard sale to generate some extra cash to add to savings.
- Make money with surveys online. There are survey sites that pay fairly well. You can make extra cash to stash away using the various survey websites out there. Make sure you get signed up with one that actually pays out though.
- Trim your budget. If you’ve taken the advice above, you have a budget. Are there any places you can cut down? Groceries are always my first go-to when I’m looking to trim my budget.
- Sell blood or plasma. There are parts of your body you can legally sell for money. Blood and plasma are both great ways to make extra cash to put in savings, especially if your blood type is rare. Many places will pay up to $400 for donating plasma, depending on the amount you’re able to give. Most donations equate to about $25 to $50 though. You can donate regularly though so if you want to add this to your list of ways to make extra cash it’s a good one.
- Open a high-yield savings account. Opening a savings account with a higher interest rate may help you save money faster by generating more money in interest than you would normally. However, many high-yield accounts have penalties if/when you withdrawal so before you open an account, read the fine print.
- Freelance. If you’re a writer or know a trade that you can freelance with, do it. Freelancing is a great way to make extra money to save for a home. You generally make your own schedule and only play off your own strengths.
- Talk to a financial advisor. Lastly, if you’re having trouble saving for your home or need more ideas on how to better prepare for your home, contact a financial advisor. They won’t necessarily help you generate more income but they can help you find money you didn’t know you had by sorting your finances.
Getting ready to buy a home is an exciting and stressful time. Wanting to get it over with is natural but, when it comes to saving for a home, there is no fast track. However, take the tips and ideas above into consideration and you’ll be on your way in no time.
Have you saved for a home? How long did it take?
20 Expenses You Can Cut From Your Budget Today
A surefire way to speed up your debt removal process is to reduce your spending and increase your income.
This just might be the part that you enjoy most! This is where you have a chance to get creative.
This week and next week, we’ll find ways that you can trim your spending to make room in your budget for paying off debt or saving up for your next financial goal.
Today, we’ll focus on eliminating some expenses from your budget.
Examine Your Budget
Pull out your monthly budget.
Examine each expenditure. Go through line by line to come up with some potential expenses you can cut from your budget.
What are some expenses that you can get rid of completely?
Other than your basic necessities of food, clothing, shelter, and transportation, carefully consider each expense.
Do you really NEED these items?
Challenge yourself to write down at least ten expenses you can eliminate from your budget.
For now, these are just thoughts.
You’re not going to act on each item you list at this time, but I want you to spend some time on this and add as many ideas to your list as possible.
Get creative.
Don’t worry if an idea sounds ridiculous or impossible. It may lead to a better idea later.
Once you have at least ten items listed, add ten more.
No matter how big or how small the potential decrease in spending may be, don’t disregard any idea.
Small changes add up over time.
Expenses You Can Cut
Here is a list of 20 ideas to help you get started on your own list:
- Cable
- Dare I say… Internet?
- Landscaping
- House cleaning
- Pest control
- Gym membership
- Kids’ activities
- Hobbies
- Monthly insurance fee on cell phones
- Data plan for smart phone
- Modem rental fee
- Daily espresso
- Daily lunch out
- Alcohol
- Soda
- Snack foods
- Entertainment
- Restaurants
- Magazine subscription
- Vacation
Again, these are just ideas. It doesn’t mean you have to implement every single one, but understand that the more you trim your spending now, the quicker you’ll get out of debt.
You don’t have to be as drastic as Miriam and unplug your fridge to make quick progress. My husband Mike and I paid off $65,000 of debt in 11 months on a single, middle class income, and we haven’t cut all of the expenses that I suggest.
Every situation is unique. What worked for us may not work for you.
The Point is to Be Intentional With Your Spending
I’ve stated this before, but the point of this whole process is to be intentional with your spending.
If you don’t cut an expense, then you should have a good reason for keeping it.
There are a number of expenses in our budget that we could cut, but we haven’t.
For example, we put our son in preschool last fall. We didn’t have to do that. We could have saved the expense and taught him his ABC’s and numbers at home.
But we feel that education is important, and we want him to be prepared for kindergarten when the time comes. While we’ve sung the ABC’s and worked on counting with him, he’s shown tremendous progress since September. He loves school and is already trying to read — at 3-and-a half!
Take Action
Decide on two expenses that you can cut this week.
Then take action to do so by the end of the week. Make a pact with your spouse or accountability partner that you will act on these ideas by the end of the week.
Put it on your “To Do” list or add it to your calendar of when you are going to remove these expenses from your budget.
Two items is manageable for most people, and you will feel accomplished by freeing up even a little bit of money in your budget. But if you want to cut more, by all means, trim away!
Read Our Popular Articles
If you are serious about getting out of debt, read our other popular articles:
Alice and Scott Paid Off $200,000 Student Loans In Seven Years
Ron and Thu Paid Off $137,000 in 7 Years
Make Some Passive Income With Paribus
Yes, You Can Pay Off Debt When You’re Behind On Your Bills
Lastly if you are snowed under with debt, consider refinancing with SoFi. They have solid customer service and a competitive model.
What About You?
Participate in the conversation. What are some expenses you have cut from your budget to reach your financial goals? What would you add to the list? Share in the comments below.
Change Your Thinking About Debt With This 2-Minute Trick
How important is mindset when getting out of debt?
That’s the question I received last week from Michael (not my husband).
So I did a scope (as the cool kids call it) where I shared the following two-minute trick to change your thinking about debt.
[Read more…]
Dear Best Friend, Here Are The Reasons I’m Not Loaning You That Money
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,
- 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.
- 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.
- 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.
- 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.
- 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:
- 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.
- 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.
- 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.)
- 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.
- 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
- « Previous Page
- 1
- …
- 14
- 15
- 16
- 17
- 18
- …
- 47
- Next Page »