New Year 2012

                           

A new year just around the corner, a new start and new money saving ideas.

Let's start with a new mindset.

 Health, Happiness and debt free.

• Keep a record of all your expenditures.

• At the end of the month make sure you still have money left over, if you don't, then you  need to re think your expenses.

• Treat your family budget as a business, call it Family Inc. A corporation will not survive, without a profit. 

• Your profit is savings and mortgage.   Have a profitable business for your family, it makes a happy healthy year for your household.

• If you are single, you are an Entrepeneur of your own money.   If your income and expense do  not add up, your business will go under.

• Plan for the upcoming year, think about your RRSP's, save for an emergency.  Save for a  vacation.

If you are in debt and feeling overwhelmed, seek help and get your financial freedom back.

www.themoneylistener.com

Saving for the holidays!

Everyone  feels  under pressure to get into debt and buy gifts they cannot afford.  When it comes to January they do not want to open their credit card statements and end up paying for the gifts months after the season.

1. Plan it.  Decide on an amount you want to spend this Holiday season.  This needs to  include the cost of food  and drinks and gifts.       
2.  Make a list of the people that you want to buy a gift for, not who you should buy a gift for. 
3. Let family/friends know ahead of time that you are on a budget and will not be buying as many gifts this year.
4. Buy things on sale throughout the year, have a stash of gifts and when you come to the time, you will have almost all the gifts.
5. Don’t buy last minute gifts, your will pay more because time has run out.
6. Look in the flyers now for early gifts, check out warehouse sales.
7. Check out the craft fares, in November/December you can buy really inexpensive very unique and personal gifts. It can also give you lots of ideas for gifts you can give.
8. Use social media. Before you start shopping, start following your favorite retailers on Twitter and Facebook. Many companies offer discounts exclusively to their Twitter followers and Facebook friends. A quick search of their recent posts may reveal money-saving discount codes.
9. Check the internet for coupons and offers. 
10. If you are short on time, order online, they may have discounts and free shipping.  Your time is money, it will allow you to plan and save time and gas driving to malls and stores.
11. There is a website called dealfinder and it gives daily deals in your area and  you can buy coupons for family and friends at a great discount, it call be everything from a meal/massage/spa/autoshop/fitness.
12. Bring on the envelopes, chuck the credit cards. Leave your credit cards and debit cards at home.  Allocate an amount of money for each gift, and put that money in separate envelopes marked with the recipients’ names.
13. Give group gifts. When exchanging presents within large groups of people,   A Secret Santa strategy, or going in with co-workers on a gift for your boss.

Yard sales and consignment stores

Shop Consignment, Yard sales and Save BIG money!

Just about every piece of furniture in my house was bought from a consignment store or yard sale. Why pay the high price of new? and I am proud of it.  I have designer pieces which look great.

Consignment stores can be a great way to find practically new stuff at a fraction of the price. The best things to find deals on at consignment stores: furniture and designer clothes. Look for  stores in the nicest neighborhoods, and you’ll often find things that were never used at all.

I have had many great finds at my local yard sales,  last week I found some stunning picture frames, at the cost of $3 each.   I can frame my own oil paintings and they look professional, they look as if I have spend a lot of money on them.

Get Organized!

A Little time now saves a lot of time in the future.

If you want to save some money and loads of time, spend a little of each to get organized.

First, trim back some of your bank accounts, to simplify your paperwork and keep better track of your money.

Have a file for credit cards and bank statements.  Make sure you check the statements just in case there are added charges. 

Check all your phone, cable and utility bills every month, just in case they have increased their rates and you missed the letters notifying you of this.

Keep a record of all your expenses and income every month.

You know where you will stand every month and will give you piece of mind.

Marriage & Money

I have been thinking this week,  money can be a big issue in a marriage, I know even for me, it was a huge reason for my marriage breakup.

It sounds rather drastic, but if every couple went for financial counselling before they get married, they will at least have some idea of what could potentially happen, when the honeymoon phase has worn off. 

Sometimes the decision making around  the wedding ceremony and  honeymoon is a good indication, how the topic of money and  finances, will be handled.

For example, if the couple want a big wedding with a $10,000 dress and many bridesmaids and have to borrow and get into debt because of the wedding, it is not a great start to married life. 

Maybe I am being  too practical, after all love conquers everything,  doesn't it? 

Too many times I deal with the fallout after years of lies and credit card abuse with couples, the stress can turn into; anger and disappointment even the best relationship can suffer. The dynamics of money and marriage can  potentially create the following situations:

1. The person who hides  purchases from the other spouse.
2.  The partner who hides the credit card bills or the bank statements.
3.  One partner is a saver the other a spender.
4.  Denial on both sides and spending continues.

Communication is key to great money management and finding out how the other person views money.

Emergency Savings

Everyone talks about saving for an emergency.

Lets talk about how you can achieve this:

Emergency fund has to be liquid, but nost too easily accessable, the tax free savings account can be used for keeping the funds until you need it. An emergency fund can stop you going into credit card debt.

1. Pay all other expenses first, even if there is only $20 left over after everything is paid, the money can add up over the year.
2. If you get a bonus at work or get a tax refund use it to add to your savings.
3. Get the bank to take out a reasonable amount every month, even if it is between $100-$200 each month, it easily adds up and you will not miss it.
4. If your income varies from one month to another, use the percentage rule and transfer that amount out of your account to a savings account.
5. When you get started with this emergency fund, it will give you peace of mind and if you don't use it, it will be there if you need a new car or a down payment on a property you always wanted to buy.

Earn More Money, Improve Your Employment Prospects.

I have been working on Career Development and Resumes with my clients recently, here are some ideas which came to mind, when working with them.

You don't need to be an entrepreneur to make it big and for most of us moving to a new job or getting a promotion is one of the best ways to increase our income. Here are some tips on getting the most out of your present career:

Build up your resume with experience and qualifications by taking advantage of any training opportunity your employer offers. This includes formal training, such as courses and seminars or experience gained from taking on extra responsibilities.

Sometimes it is also worth considering the long-term benefits against those of the short-term. Some roles may not pay junior staff particularly well, however the experience and training that they receive can allow them to earn considerably more money when they reach senior levels.

Don't let a low paying position stop you from getting the job you deserve. Become your own publicity agent and find positive ways to get yourself noticed with senior managers. Join a company committee, writing for the staff newsletter or representing your organisation at a charity event.

Add extra value to your role and prove yourself as a competent employee by finding ways to do your job better. Maybe you can streamline a process, become an expert on a particular topic or improve your personal organisation.

Be careful not to get stuck in a rut and recognise when you are ready to move on. At some point, most people will outgrow the companies they work for and changing jobs will often bring fresh challenges.

If you have an out dated resume, it is worth it, to get help with your resume, not everyone has the education or qualifications that are high profile.  With work, the most basic resume can be adapted to something that you will be proud of.  It will give you the confidence, when you attend that interview. 

Credit cards for Emergencies

We all have a love hate relationship with credit cards.

I am working with several clients that have already cut up their credit cards, but have been left with debt.

They are paying the minimum amount and are making no head way with paying down the amount.  The stress from this is enormous and can be eliminated with a little planning.

Don't get me wrong, credit cards can be very useful, especially when you have an unexpected expense like a dentist bill or car repair. 

You just have to be smart about it and pay off the amount when you receive the bill.  Use a credit card for  emergencies only.  Watch the date, sometimes you can get away with not paying for the purchase for two months.

This is a great article:

www.moneyville.ca/article/944740--what-your-credit-card-company-won-t-tell-you?bn=1

Enjoy!

Where to start?

People always ask me, where do I start? 

It can be as easy as; start at the beginning. 



A basic Excel spreadsheet can be friend for not just a business, but individuals as well. 

A single or family can set up a spreadsheet with just some simple steps:

Start with basic columns with your expenses in the first column and then the months of the year at the top.

Include total of your net income every month on the first line of your spreadsheet.

• Start with the first group of expenses:  Rent, Mortgage, Utilities, phone
• Next group can be a group of car expenses:  Car payment, insurance, gas/parking.
• The other group can be:  Food, supplies, clothes, entertainment.

You can total the expenses at the bottom of the page, so you can see what you are spending at the end of the month.

If you have any questions or need help setting up a spreadsheet for your family drop me a line.

Next blog will discuss, what we can do with the numbers on our expense sheet.

Money goals for 2011

You probably think to yourselves, who is this Money Listener?

I am someone who has rode the tides of plenty and famine, who because of sheer determination has succeeded where others have failed. 

Having been self-employed for the last 20 years, I have tried and tested all sales/marketing and business tools, have made and lost money and know what works and what does not. 

I have also been a day trader on the TSX and have knowledge of the markets, where to put your money and where not to waste your time.

I have worked with small business owners in identifying their goals and strategies for the future.

Money also can be an uncomfortable word in personal relationships. We will explore how money is linked to self-worth and self-esteem.

I would like to discuss budgets for this month. I know "BUDGET" is perceived as a scary and unpleasant word, it does not have to be it gives you control of your financial and personal life.

Stay tuned for the first steps to creating a budget for your life and business.

Over the months, I will bring you insightful suggestions and we can begin the journey to control your life and money.