Budgeting

Families’ Savings Tips

Raising a family is expensive. Before my wife and I had our first son, I was terrified. We were decent at managing our finances, but I suddenly felt that I had holes in all my pockets. I’m sure other families feel this pinch and constantly look for ways to cut costs.

Try some of the following money-saving tips and use them to take charge of your budget.

Your Mid-Year Money Check

This year is more than half gone. Amid your summer vacation and plans for fun in the sun, find time now for your mid-year financial checkup.

Like many, you probably picked a financial goal for this year, such as pay off debt or generally get your financial house in order. Now reevaluate your intentions and take a good look at where you stand. Start reviewing the following:

Spending plan. Cash flow management is key to a successful financial future and knowing where your money goes a must in creating a plan.

Your Wealth Checkup (Pt. 1)

You unfailingly schedule your annual physical and health screenings and dental checkups for you and your family. Schedule time for a regular wealth checkup, too, to determine your money situation today and how close you are to your financial tomorrow.

Here’s part one of what you need to do at least annually to make sure your money works hard for you.

More Money Isn’t the Answer

How many times have you heard people say “If only I had more money.”? When you want to purchase a new car or a house, or pay down bills such as credit card debts and student loans, you can easily fall into the trap of thinking that more money is the answer to your problems. Most often, it is not.

The question to face is how to manage money – not how much you make. Granted, folks need a certain amount of money to survive. Think of it this way: If you are poor at managing the money you currently make, how does an increase in income make you a better money manager?

Creating a Part-Time Job

Do you work a full-time job and still can’t take care of all those bills every month? Maybe you manage to pay your bills but have nothing left over for savings and investments? Maybe you need a side hustle – the newer name for the good old odd job or part-time gig.

The Millionaire Mindset, Pt. 2

Previously, we looked at the first three components of a millionaire mindset: how to spend like a millionaire by living frugally, budget like a millionaire by putting essentials and savings first, and work like a millionaire by loving what you do and investing in your career.

All three of these are vital habits for anyone wanting to build financial independence and lead a satisfying life. But the millionaire mindset doesn’t stop there. Here are three more aspects of it.

Vacation Planning Tips (Pt. 2)

Smart trip preparation entails wise security precautions with your personal information and budget, and leaving enough minutes on the actual day of your trip to kick your vacation off right.

All too often, travellers overlook these necessities or think they can make arrangements at the last minute. In this second part of our vacation planning series, we offer some tips to make sure your time away is not an ordeal.

Vacation Planning Tips (Pt. 1)

School’s out and here comes your traditional summer family vacation. Taking a break doesn’t necessarily have to cost you big or paralyze you with stress. Here are some savvy secrets, including how to save on travel and ease packing.

Airfare.  The best travel days for both domestic and international flying are Tuesday, Wednesday and some Saturdays. Business travel frequently begins on Monday and wraps up on Friday. Most people begin vacations on the weekends.

Getting a Millionaire Mindset

If you’re a new graduate, taking your first steps into the adult world, here is the most important financial advice I can offer: Develop a millionaire mindset.

This absolutely does not mean making wealth your life goal. But thinking like a millionaire will help you build a solid financial foundation to support you in reaching your life goals.

First of all, let me define “millionaire.” A millionaire is someone with a net worth of $1 million. That amount generates an income of around $30,000 a year. In today’s world, that’s not even close to lavish-lifestyle wealth.

Budgeting Variable Income

If you’re an entrepreneur, you typically light up about your freedom, flexibility and independence at work. Serious benefits, as studies show that entrepreneurs who started their own ventures are among the happiest people. Money is a part of your success, though, and good money management can be difficult without a steady, reliable paycheck.

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