Pay yourself Every Month
This is one fundamental that will never change. It’s a difficult concept to grasp for people who are used to putting every one else’s needs first. Every month after you write the rent check or pay the mortgage,make the next one out to you. If you ‘re married or in a relationship,be assertive about this.
Don’t let your husband or partner take total control.Get involved and agree on a unified strategy. Save or invest ten percent of your gross income if possible.If you ‘re not able to do this,pick a smaller bumber. Remember,it’s developing the habit that counts not the amount. Your needs are important. When it comes to retirement,if you don’t plan to take care of you,who will? Be smart!
Stick To Your Plan
For most people,this is the hard part. It hels to focus on the end result,and the freedom your financial discipline will bring you. Money problems are one of the main causes of divorce. Poverty is certainly no fun.The fear of being a bag lady weighs heavy on women. These are all good reasons to stick to your plan. Use whatever stimulus it takes to motivate you,whether it is the fear of loss or the joy of financial freedom.
Teach Your Kids The Basics
Educating children about money is a parent’s responsibility. Teach your children the value of a dollar. Give them clear examples of bad money habits and have open discussions around the supper table.As they get older,make them save for what they want.They will respect you for this later.Introduce them to the concept of giving and being charitable. A good example, even for a young child,is to explain that a dollar is best split up as follows:10 percent for the government(taxes),ten percent for charity(people who are less fortunate),ten percent for saving or investing(helping your money grow), and you get to keep the remaining 70 percent. Label four glass jars accordingly,and have them deposit the appropriate amounts when they receive or earn any money.
Do what you love and the money will follow-Marsha Sinetar
Passion and Financial Prosperity are closely linked
Geena couldn’t believe her eyes. The automatic teller machine had just displayed the news that twenty dollars she had requested wasn’t forthcoming because the amount exceeded her balance of $1.17. As good as broke,she and her sister Janet held a garage sale the next day to raise funds.Amongs the items sold were Janet’s car and wedding dress. The sale brought in $9,000.
If you had a dream,would you be prepared to quit your full time job,risk everything,and put yourself $80,000 in debt not to mention saying goodbye to any social life for fourteen months? Many people would say no,that’s too big a risk. Not Geena and Janet Podleski. These two enterprising sisters from Ontario,Canada dreamed of creating a unique cook book to help people become healtheir by wating nutritious,delicious,low- fat meals.
Like every business,it started with an idea. However,it certainly was not a start-up. Both sisters had good jobs. Geena in a government office and Janet,a marketer for an international high-tech company. When Janet married,Geena moved in with the newly weds,primarily as a cook. She serves delicious meals and didn’t mention the fact that they were low-fat meals.When this became known months later,Janet’s husband said. “You should write a cook.” The more they thought about it,the more they liked the idea.They were the perfect team;Geena the master cook and Janet a whiz at marketing and writing.The day of commitment came when they both made a pact to resign from their full-time jobs on the same day.
They had disappointments with the publishing of their book but didn’t give up. They were able to self-publish their first cook book,Looney spoons. It landed on the shelves a month later. It hit the best seller list in the first week and stayed there for eighty five consecutive weeks!
CrazyPlates,their second cookbook was also recieved by the publoc with great enthusiasm. Their latest venture is a line of frozen meal kits all low-fat and ready to serve in fifteen minutes. They won the best New product award in the grocery industry. Geena and Janet are big dreamers who simply wouldn’t quit.They are certainly living proofs that passion combined with courageous action produces huge dividends.
You have got to tell your money what to do or it will leave–Dave Ramsey