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.