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Woot woot! Another great week has passed so fast. Before we knew it, January would end and we will welcome the month of hearts. But before we get excited let us recap this week's post shall we?
Practicing the Art of Budgeting
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As requested by a one great reader of mine, she wants to know how to properly budget. I know for one how tough this is to do. I too have failed many times. That is why I present tips on how to start it the easier way. This was also what I did to come up with a successful budgeting approach. It all started with a goal in mind followed by a way to track money. Then I create a simple budget in terms of percentage. 10% for tithe, 20% for savings and 70% for expenses. From there, you can further subdivide the percentages like the expenses. That hard part is sticking to the budget, but since you have a goal that can be your motivation. And sometimes, give yourself rewards.
MaxiMIZIng Your Credit Card
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There's nothing wrong owning a credit card. However, if you tend to max it out every month, then you are doing something wrong and grave. In here, we present varied ways to maximize its use. This includes not carrying it everyday because you would be tempted to buy stuffs because it is at your disposal, keep track of the receipts, paying it in full and never to cash advance from it.
Paying It Forward 52 Week Money Challenge
Photo from Daniel Ignatius @thewintercynic
Another way to finish the 52 Week Money Challenge easier and faster. This incorporates the paying it forward mechanism. This means that we pay a week in advance especially to those heavy week. With this, you will be able to ease the burden in the later weeks of the year. Not to mention, you could be able to finish it in less than 52 weeks!
Time Management for Money Increment
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Didn't you know time is your ally with regards to increasing your money? That is why this posts talk about ways on how you can be able to maximize your time for your earning potential. This includes knowing your productive time, not wasting it, being aware of the time and to spend it like money. After all, this is one asset that we can never get back.
On Money and Honey
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Is money taboo in your relationship as boyfriend/girlfriend? Then perhaps it is time to rethink about that. More than sharing the love, a couple must also share about finances. This could help strengthen the relationship most especially with regards to money. Start talking it out with your special someone. Incorporate the 50:50 Rule, be frugal when going out on a date and most importantly be a financial partner and scrutinizer to him or her.
Talking About Money In The Family
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The most important core to discuss money is in the family. As much as possible, everyone must know the financial health of the family. Parents should be able to discuss this freely to their kids and also the kids to their parents. Tips are presented here on how to get the family started.
I hope you all have a blessed day with God and your family!
P.S. To those doing the 52 Week Money Challenge and 52 Week Money Challenge Version 2, it is Week 4 already! Did you deposit the next amount yet?
P.P.S Want to know more about investing, savings, stock market and more, check out my reference here. You can download free ebooks and resources too.