10 Habits Financially Stable People Have

Still being useful.

10 Habits Financially Stable People Have

Casey Imafidon

Keeping your financial life stable requires some discipline and development of

good financial habits. We all do not want to be in a financial hole that leaves us emotionally

and psychologically devastated. It is better to protect our finances when we can,

before situations cause our money to slip away from our fingers. 

That is why it is important to learn a thing or two from the financially stable.

1. They don’t spend impulsively

Money has a way of engaging us. This apparently happens to a big problem for us all

as we want to take advantage of the “easier” life. Impulse spending means eating out

and shopping extensively until we drain our finances.

Financial stability can only be attained when we control and monitor our impulse spending.

2. They save money

Financially stable people spend less than they earn. You may not have abundant capital

but you can indulge in the right and important things and not overspend.

This affords you the opportunity to save money. 

So learn to negotiate phone, cable and utility bills. 

Or simply reduce how much you spend on grocery, restaurants and clothing.

3. They track their spending

They monitor their spending. This can be done occasionally. Perhaps once a month

you can write how much you have spent, and see what areas you are running deficient.

When this is done one can understand how efficient he is using up his finances.

4. They invest

Financial stable people do well to secure their future. Even when retirement isn’t lurking nearby you can start setting some money outside in deposits for investments

5. They eliminate and prevent debts

All debts are not the same. A loan that builds with high interest is not the same as low interest loans such as mortgage and student loans. Debt has a psychological effect that works 

against the debtor, so it is better to eliminate or prevent debts. Know how much you owe now,

whether it is a car loan or credit card debt.

6. They budget

Financially stable people budget their income. By using a budget they are able to ascertain

where their money is going to and seeing that it goes to where they actually want it to go to.

With apps like Mint and You need a budget you can take charge of your budget

and start becoming accountable for it.

7. They respond automatically

Yes they do not procrastinate with their finance. They do not delay in the paying of their bills.

By doing this there is no room for debt growth and affords you the opportunity to know

what money can be used for personal expenses.

8. They give up bad habits

This takes some discipline. But financially stable people understand that bad habits

have a way of eating into their income and robbing them off their future joys. Things that

truly make you happy are inexpensive and do not leave you swimming in financial wreckage.

9. They plan

There are special things or activities that you would want to reward yourself with.

It could be buying a house, buying a car, going on vacation. This could be long term goals

that require you to efficiently plan and achieve them. Instead of simply procrastinating, put numbers and dates on those goals. By doing this you can be consistent and see them to fruition.

10. They take care of their health

Financial stability requires some responsibility. You cannot accomplish nor do much

without protecting your vehicle to success, besides medicine is expensive, from medication, examination to treatment. Financially stable people protect their finances by also protecting

their health and ascertaining a healthy lifestyle. We all do know unforeseen occurrences

can happen but please there are things one can manage and are still in your control. 

http://www.lifehack.org/articles/money/10-habits-financially-stable-people-have.html

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All aspects of regular, each-word down-each-line reading and education.

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To quote the Dr Seuss himself, “The more that you read, the more things you will know.

The more that you learn; the more places you'll go.”

5 Mind Tricks To Help Keep More Money In Your Pockets

Moss and other plants on a wall.

5 Mind Tricks To Help Keep More Money In Your Pockets

Matt Duczeminski

Money, it’s a gas. Or, at least, it runs out as fast as gas does. 

If you’re living paycheck to paycheck,

it can be incredibly hard to start up the nest egg you’ve been planning for years.

But it’s not impossible. With a few tweaks to your daily spending habits,

you’ll find you have more than just spare change in your pockets by Friday evening.

If you want to save money, read on.

1. Think of hourly worth

When I was a young adult working at a summer camp, I was always amazed when

most of my co-workers would come in with a fresh deli-made bagel, bottle of orange juice,

and cup of coffee every morning. We only made around $10 an hour,

so those that made this a daily habit had already spent the money

they would make in their first hour of every workday before they even got to work.

If you want to save money, quit the impulse purchases. Every time you want to buy something,

think to yourself “How much time would I need to work to pay for this?”

If the amount of time absolutely appalls you, put the item back on the shelf and move on.

2. Savor things and experiences

If you add up your daily $3 Starbucks coffee habit over the course of a year,

you might be shocked to realize you’re spending anywhere from $700 to $1000 yearly on a drink that lasts you twenty minutes. Your first impulse would be to stop buying the coffee altogether.

But what’s the point of living if you can’t enjoy yourself every once in a while?

Instead of making it a habit, cut down to once or twice a week. Save your “coffee day”

for the rough mornings, rather than getting it all the time because it’s what you normally do.

You’ll end up enjoying every sip you take just that much more,

knowing you won’t be allowing yourself to have another one until the following week.

3. Think of time off as lost money

If your boss offers overtime, take it. 

Chances are you just wanted to go home and relax on the couch for the evening anyway. 

If you make $15 an hour and get double-time for working longer hours,

and your boss offers you two extra hours of work, is it really worth losing $60 to catch the Seinfeld reruns you’ve seen a hundred times? You might not have technically lost any money,

but you lost potential money. It’s one thing to have missed opportunities in the past,

but to disregard future opportunities that you still have the chance to take advantage

of is a complete waste.

4. Spend where it matters

Money is essentially meaningless until you give it meaning. 

If you have a million dollars in the bank but refuse to touch it, it’s just a number on the computer. 

But if you have $100 in your pocket and spend it on a romantic dinner with your wife, 

you’ve spent $100 not just on dinner, 

but on making a memory that will last long after you finish dessert.

A dollar might not go as far as it used to, but since you are free to do with your money 

as you please, make the most of every penny you earn.

5. Think of money saved as money earned

Going back to the idea of not spending habitually and splurging on unnecessary items,

change the way you think of money saved. 

It’s one thing to say you “saved” $500 this year by not buying a donut every morning, 

but you could also look at it as you “earned” $500 this year

by not buying a donut every morning. It might not seem like it, but didn’t it take effort to give up that sweet pick-me-up? You were working to give up the habit you had formed,

and for your troubles, you earned some extra money in your pocket.

Think of how much money smokers could earn if they gave up the disgusting habit!

Once you earn this money by giving up something fairly inconsequential,

you’ll be free to spend it on the things in your life that actually matter.

http://www.lifehack.org/303076/5-mind-tricks-help-keep-more-money-your-pockets

You can TCR specialist and language dictionaries that are spontaneously accessed.

I can Turbo Charge Read a novel 6-7 times faster and remember what I’ve read.

I can TCR an instructional/academic book around 20 times faster and remember what I’ve read.

Introduction to Turbo Charged Reading YouTube

A practical overview of Turbo Charged Reading YouTube 

How to choose a book. A Turbo Charged Reading YouTube

Emotions when Turbo Charged Reading YouTube

Advanced Reading Skills Perhaps you’d like to join my FaceBook group ?

www.facebook.com/mreenhunt

www.pinterest.com/mreenhunt

Perhaps you’d like to check out my sister blogs:

www.turbochargedreading.blogspot.com  

All aspects of regular, each-word down-each-line reading and education.

Turbo Charged Reading uses these skills significantly faster

www.innermindworking.blogspot.com   many ways for you to work with the stresses of life

www.happyartaccidents.blogspot.com   just for fun.

To quote the Dr Seuss himself, “The more that you read, the more things you will know.

The more that you learn; the more places you'll go.”

8 Habits That Keep You Poor Even With A Reasonable Income

Honeysuckle.

8 Habits That Keep You Poor Even With A Reasonable Income

Lianne Martha Maiquez Laroya

Have you ever wondered where all your money went to?

Do you often ponder why there is no money in your bank account at the end of each month?

Have you found yourself frequently thinking about the invisible holes through which

your funds vanish? If yes, then you have landed at the right place. We can tell you exactly

the reasons why you are unable to amass money despite earning a decent income.

Here are the top 8 habits that can sneak into your hard-earned income and eat up your funds.

Spending more as your income increases

There’s no harm in raising your standard of life when you can.

However, if you are a person who is constantly looking for ways to spend your money,

you will probably find yourself in a difficult situation soon enough.

If you continuously raise your expenditure along with any increase in your income

(or even without it), it would be hard to have any real savings.

Try to keep your expenditures at a constant level

along with exploring ways to increase your income. That’s the route to success!

Focusing on the present without caring about the future

Usually, when people find it hard to tackle a problem, they choose to ignore it.

That’s a sure recipe for disaster. The same is the case with your finances.

Generally, people focus on their present needs,

wishfully thinking that future needs will somehow be met in some way.

You need to take the future into perspective whenever you are making any financial decision. Although it is good to take care of everything in the present, do your best to save for your future.

You think it is too early to start saving

When you are young, it is easy to get carried away by the various pleasures money can buy.

People often think that right now is too early to start saving or investing.

Wrong! It is never too early to save a portion of your income,

no matter how low or high your income is!

Start saving today! In fact, experts say that you should save before you spend.

Keep aside a portion of whatever money or income you get, and then spend the rest!

Not keeping a record of your money

We all think that we know where our money comes from and where it ends up.

Sadly, that’s not true for most of us. We might be aware of our major expenditures,

but the small things usually eat up our finances more than the big ones.

It is an excellent idea to start keeping a journal for all your income and expenses,

whether they are huge or small.

This way you will have a much better idea for controlling your finances.

Lack of budgeting and/or poor budgeting

You might be documenting everything. Then again, you might be missing the starting point

— a budget! Having a realistic and well-documented budget

is the foundation of all your financial planning and success.

Make a budget and stick to it! I can say this from my own experience:

it makes a huge difference in how you look at your money. In the absence of a budget,

it is very easy to get carried away and commit unnecessary expenditures.

Being unclear of your needs, wants, and finances!

In order to save money and build wealth, it is of the utmost important that you absolutely care about the must-haves, good-to-haves, and not-to-haves!

You need to prioritize your financial targets. If getting rich is a top priority for you,

then you need to sacrifice some of your present pleasures, whether you like it or not.

Be clear about your goals and write them down.

Review them at regular intervals to keep yourself on track.

Ignoring your debt

For a lot of people in today’s world, interest eats up a huge portion of their finances.

It’s a painful fact.

Still, they don’t know how to get out of this vicious cycle, leaving them with little to no savings.

First of all, make paying your debt a top-of-the-list item on your agenda. Work out a plan for this

and stick to it, no matter what. You don’t want to believe that you’re poor, do you?

Constantly upgrading your electronic gadgets

There is no limit to it. While there is no harm in buying gadgets that you actually need,

buying only because there is this next version of mobile available in the market

will definitely cause you more harm than good.

Take charge of your life today.

Do what needs to be done right now. You can do it.

Do yourself a favour and start your journey of becoming wealthy today.

As William Shatner said, “If saving money is wrong, I don’t want to be right.”

http://www.lifehack.org/293764/8-habits-that-keep-you-poor-even-with-reasonable-income

You can TCR software and engineering manuals for spontaneous recall – or pass that exam.

I can Turbo Charge Read a novel 6-7 times faster and remember what I’ve read.

I can TCR an instructional/academic book around 20 times faster and remember what I’ve read.

Introduction to Turbo Charged Reading YouTube

A practical overview of Turbo Charged Reading YouTube  

How to choose a book. A Turbo Charged Reading YouTube

Emotions when Turbo Charged Reading YouTube

Advanced Reading Skills Perhaps you’d like to join my FaceBook group ?

www.facebook.com/mreenhunt

www.pinterest.com/mreenhunt

Perhaps you’d like to check out my sister blogs:

www.turbochargedreading.blogspot.com   

All aspects of regular, each-word down-each-line reading and education.

Turbo Charged Reading uses these skills significantly faster

www.innermindworking.blogspot.com     many ways for you to work with the stresses of life

www.happyartaccidents.blogspot.com     just for fun.

To quote the Dr Seuss himself, “The more that you read, the more things you will know.

The more that you learn; the more places you'll go.”

All Young People Should Learn These 6 Money Tips

All Young People Should Learn These 6 Money Tips

Michael Daws

In today’s world, one of the most important things a younger person can do is start to learn

how to manage their money wisely. It is too easy to get buried in debt,

and it seems almost impossible to get out of it.

By checking out these 6 tips, you can get yourself on the right track to financial peace of mind.

1. Create a budget, and stick to it!

You will see this tip on any blog you read, and there is a good reason for that.

Make sure you actually write down your budget, and prioritize everything.

This may help you keep from dipping into your bill money or your savings account.

Another tip you can try is to over budget if you can. This way, if something unexpected happens, you won’t have to go over your budget, but if there are no surprises,

then you have extra money left over.  

2. If you don’t have a savings account, then start one.

It’s very important to have a savings account for emergencies.
I was always taught to try and save up at least 3 months worth of pay,
just in case you lose your job, or have to take time off.

I understand it’s hard to just stash that much money away all at once,

but a little money here and there can really add up.
One easy way to build your savings without even noticing
is to have an automatic transfer set up from your checking to your savings.

If you have direct deposit, then you can have, for example, $25.00 switched out automatically,

and you hardly notice.

3. Beware of Credit!

Credit is such a powerful tool to use in the financial world and can really help you

when purchasing a new vehicle or home. It can also be fatal to your finances.

According to research done by Debt.org, the average credit card debt of young people

between the ages 18-34 ranged from $3000-$5200. In today’s world, they make it too easy

for people to get a credit card or some kind of “buy now, pay later” deal.

While it may sound like a good idea at the time, it is what really hurts people
years down the road. People think they have all the money in the world and swipe that card

like they will never have to pay it back when, in reality, they do have to pay it all back,
plus interest. If you do use credit, make sure you have the cash to back it up.

4. Live within your means.

Try to keep your cost of living below how much money you actually make.  

Suze Orman, a financial guru also suggests cutting your spending by 10%. 

By doing this, you will end up with extra money at the end of the month

even after all your bills have been paid. This also means that if you get a promotion

and a raise at your job you should try to continue to live the way you have been before.

This means you will have even more money to save at the end of the month.

If you unnecessarily increase your cost of living and you lose your promotion and raise,

you just might not be able to afford everything anymore. So it’s best to just play it safe.

5. Invest in your retirement.

If you start putting money into a 401k or an IRA while you are still in your 20′s,

you will have contributed more money overall than you would have

if you started in your 30′s or 40′s. This also means your retirement

will have had more time to collect interest and make you more money.

6. Invest in health insurance.

Health insurance is a must. If you don’t get it through your employer,

you should try and get it from somewhere else.

According to a survey done by The Common Wealth Fund, nearly 2 out of 5 adults

between the ages of 19-29 where without health insurance for all of 2011.

Sixty percent of those claimed to have not gotten needed healthcare because of their inability

to pay, and half of them reported problems paying medical debt.

If you have some sort of coverage, you can drastically reduce the cost of medical bills

and keep yourself out of debt in the unfortunate event that you need to seek medical care.

Keep these 6 money tips in mind when managing your finances. You will be a lot better off

in the long run if you take control now, rather than being at the mercy of debt collectors!

http://www.lifehack.org/articles/money/all-young-people-should-learn-these-6-money-tips.html

10 Money Mistakes Successful People Don’t Make

You can TCR specialist and language dictionaries that are spontaneously accessed.

I can Turbo Charge Read a novel 6-7 times faster and remember what I’ve read.

I can TCR an instructional/academic book around 20 times faster and remember what I’ve read.

Introduction to Turbo Charged Reading YouTube

A practical overview of Turbo Charged Reading YouTube 

How to choose a book. A Turbo Charged Reading YouTube

Emotions when Turbo Charged Reading YouTube

Advanced Reading Skills Perhaps you’d like to join my FaceBook group ?

www.facebook.com/mreenhunt

www.pinterest.com/mreenhunt

Perhaps you’d like to check out my sister blogs:

www.turbochargedreading.blogspot.com  

All aspects of regular, each-word down-each-line reading and education.

Turbo Charged Reading uses these skills significantly faster

www.innermindworking.blogspot.com  gives many ways for you to work with the stresses of life

www.happyartaccidents.blogspot.com   just for fun.

To quote the Dr Seuss himself, “The more that you read, the more things you will know.

The more that you learn; the more places you'll go.”

10 Money Mistakes Successful People Don’t Make

Yorkshire men are known to be careful with their money. 

Apparently mothers stitch up their son's pockets. :) UK

10 Money Mistakes Successful People Don’t Make

Bruce Harpham

Managing money effectively is a key success skill. Successful people make the decision

to become effective with money, many of them early in life. Like any area of life,

it is important to educate yourself about the threats and challenges in the world.

Taking the time to master a few key principles will pay off for years to come.

1. They don’t overspend; they live on less than they make.

Living on less than you make is an essential money management skill.

Some of the world’s wealthiest people have taken this principle to heart.

For example, Sir John Templeton, a legendary investor who became a billionaire,

saved 50% of his income even when he grew up with limited means.

If that is more than you manage, don’t worry!

You can reach financial success by saving 10-15% of your income.

Tip: Learning to live on less than you earn takes time. Start by looking for ways to save money.

2. They don’t fixate on price; they understand the importance of value.

The price you pay for an investment, a meal or piece of clothing is only part of the story.

Successful people also think about the value of that good.

For investments, they consider the prospects for the investment growing in the future.

For personal items, they look for high quality products that will last. 

For example, a well made pair of business shoes may cost $200 or more 

but these shoes can last for years with proper care.

Tip: Buy high quality products that will last for a long time.

3. They don’t waste cash on fees and interest; they know how to manage their banking

Carrying a balance on your credit card is incredibly expensive and sadly common.

According to CNN, the average American household carried over $15,000 in credit card debt. Successful people also keep an eye on their bank fees–how much they pay for ATM use

and other transactions. These fees are easy to avoid with planning once you understand

how the system works. Simply reviewing your financial accounts for 5-10 minutes each month 

is all it takes to understand your fees.

Discover: How To Avoid Unnecessary Bank Charges.

4. They don’t forget to adjust their finances after big changes in life.

Did you get married recently? Is your spouse referenced in your will?

These are some of the points that financially successful people manage effectively.

While you can automate a great deal of your finances, it is vital to make adjustments

when your life and family circumstances change significantly. Sitting down by yourself

(or with a financial expert) at least once a year to review your life and financial plan

is an excellent way to stay on top of important changes.

Learn: Arrange your finances for the long term with estate planning.

5. They are not satisfied with a stagnant income; they look for ways to increase their income.

Some people never ask for more money or simply settle for 1-3% increases.

Unfortunately, that rate of income growth means you are simply standing still

–inflation is slowly eating away at your purchasing power. Instead, successful people

look for ways to earn more income. Increased income gives you more options

for personal enjoyment, more capacity to give money, and a sense of security.

Successful people take daily action to increase their income.

For example, they take a course to improve their skills or they contribute ideas

to improve the productivity of their companies. They also know how to ask for more money.

Tip: Do yourself a favor and learn about high paying fields: 

earn $100,000 in project management and discover the highest paid jobs in America.

6. They don’t ignore financial statements.

Reaching financial success requires some slow and steady habits. 

That includes forming a habit to monitor your financial statements. 

Successful people set a time each month –30 to 60 minutes–to review 

all of their financial accounts: investments, bank accounts, credit cards and more. 

When they detect an error or omission, they take immediate action.

Tip: Set a recurring reminder in your calendar each month to review your financial accounts.

7. They don’t take foolish risks in money.

Warren Buffet is often quoted as saying, “Rule number one is never lose money.”

All investments carry some measure of risk (and therefore the potential to lose money).

That said, successful people use two powerful tools to avoid losses.

They understand the value of insurance to control risk (e.g. home, auto, and life insurance) 

and the importance of asset allocation.

Remember: If it sounds too good to be true (or if you don’t understand how it works),

slow down and start asking plenty of questions.

8. They don’t pretend to understand everything when it comes to money.

The world is a vast and complex place–successful people know and deeply understand 

this truth. When it comes to money, there is a lot of information out there. 

That’s why successful people like Warren Buffet understand their limits 

and focus on their strengths.

Tip: Review your knowledge of money and investments.

 If you are just starting out, read one or two classic personal finance books.

Or read 9 Can’t-Miss Secrets Behind Warren Buffett’s Wealth for more insights

from one of the world’s most successful investors.

9. They don’t transfer responsibility to experts.

Successful people do seek out the advice of experts, yet they never yield responsibility.

For example, it is reasonable to seek advice from a tax accountant in planning your financial affairs. However, successful people take the time to ask questions

and evaluate the person providing advice to them.

Tip: When seeking advice from professionals like accountants and lawyers, ask questions

and seek to have the advice explained to you. Otherwise, it is difficult to act on the advice.

10. They don’t let the pursuit of money overcome other values.

Seeking financial success is a valid goal. Significant financial resources give you more options

to give to causes you believe in. It also means improved access to technology, health care

and leisure. However, successful people understand that financial success is only one aspect

of a successful life. For example, neglecting health in the pursuit of money is a poor strategy.

Tip: Review your personal goals to see if you have a balance between financial goals, 

career goals, family goals and other activities.

http://www.lifehack.org/articles/money/10-money-mistakes-successful-people-dont-make.html

You can TCR software and engineering manuals for spontaneous recall – or pass that exam.

I can Turbo Charge Read a novel 6-7 times faster and remember what I’ve read.

I can TCR an instructional/academic book around 20 times faster and remember what I’ve read.

Introduction to Turbo Charged Reading YouTube

A practical overview of Turbo Charged Reading YouTube  

How to choose a book. A Turbo Charged Reading YouTube

Emotions when Turbo Charged Reading YouTube

Advanced Reading Skills Perhaps you’d like to join my FaceBook group ?

www.facebook.com/mreenhunt

www.pinterest.com/mreenhunt

Perhaps you’d like to check out my sister blogs:

www.turbochargedreading.blogspot.com   

All aspects of regular, each-word down-each-line reading and education.

Turbo Charged Reading uses these skills significantly faster

www.innermindworking.blogspot.com     gives many ways for you to work with the stresses of life

www.happyartaccidents.blogspot.com     just for fun.

To quote the Dr Seuss himself, “The more that you read, the more things you will know.

The more that you learn; the more places you'll go.”