Posts Tagged ‘Money’

PostHeaderIcon TIME IS MONEY

By Vernalee
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Our time is so valuable. How it is used determines integral outcomes in our life. There is “never enough time in the day,” is an old adage whose meaning becomes more realistic daily. Thus, we need a plan, particularly when our utilization (of time) determines our income. What’s primary; what’s secondary? How do we make those determinations? As an entrepreneur, making a daily plan makes sense. Four questions / commands of relevancy may determine how our business grows.
1. What tasks make money now?
2. What tasks make money in the future?
3. Schedule money making tasks everyday.
4. Delegate tasks that need to be done, but not necessarily by you.
In quick simplistic terms, the answer as I see it, is a what and a how.
What can bring in the $$$ now, in the future; and how will it be accomplished.
Time management is a science with our utilization of same equating to outcomes … with generation of revenue being one.
How we spend our time – directly and indirectly – determines how much money is in our pockets!
What is our next step? There may be many. Hiring a full time employee may not be financially affordable, but support – be it virtual or a consultant – may be an avenue to explore.
Many of us learn by example. Oddly, some of us can’t resist learning the hard way. We may insist on experimenting with the “bought sense vs. learnt sense” hypothesis.
With quantitative and qualitative measurements, eventually, we will learn that we cannot do it all … by ourselves. When that realization clicks, we will “be in the money!”
Green is such a spendable and vibrant color! Get started planning the “how’s” and “what’s” of your day!
“The early bird catches the most worms!”
Photo credit: www.homebusiness.about.com
Reference: About.com

PostHeaderIcon TIME IS MONEY

By Vernalee
image
Our time is so valuable. How it is used determines integral outcomes in our life. There is “never enough time in the day,” is an old adage whose meaning becomes more realistic daily. Thus, we need a plan, particularly when our utilization (of time) determines our income. What’s primary; what’s secondary? How do we make those determinations? As an entrepreneur, making a daily plan makes sense. Four questions / commands of relevancy may determine how our business grows.
1. What tasks make money now?
2. What tasks make money in the future?
3. Schedule money making tasks everyday.
4. Delegate tasks that need to be done, but not necessarily by you.
In quick simplistic terms, the answer as I see it, is a what and a how.
What can bring in the $$$ now, in the future; and how will it be accomplished.
Time management is a science with our utilization of same equating to outcomes … with generation of revenue being one.
How we spend our time – directly and indirectly – determines how much money is in our pockets!
What is our next step? There may be many. Hiring a full time employee may not be financially affordable, but support – be it virtual or a consultant – may be an avenue to explore.
Many of us learn by example. Oddly, some of us can’t resist learning the hard way. We may insist on experimenting with the “bought sense vs. learnt sense” hypothesis.
With quantitative and qualitative measurements, eventually, we will learn that we cannot do it all … by ourselves. When that realization clicks, we will “be in the money!”
Green is such a spendable and vibrant color! Get started planning the “how’s” and “what’s” of your day!
“The early bird catches the most worms!”
Photo credit: www.homebusiness.about.com
Reference: About.com

PostHeaderIcon TAKE BABY STEPS TO FINANCIAL HEALTH

By Vernalee
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Since a feature was recently presented on the thought patterns/processes of millionaires and the middle class, it’s time to bring in an expert to talk about that “mean green” that the O’Jays sing about in “The Love of Money.” I present to you, Dave Ramsey.
David L. “Dave” Ramsey III is an American businessman, author, radio host, television personality, and motivational speaker.
Ramsey’s syndicated radio program, The Dave Ramsey Show, is heard on more than 500 stations and has a weekly audience close to 8 million listeners.
I like his views because his books and broadcasts often feature a Christian perspective that reflects Ramsey’s religious beliefs. That never hurts. Right?
Ramsey offers a plan that will help us “Take Control of Your Money One Step at a Time.”
With no editing (why go off script), I present for your reading pleasure – advice from a respected expert, Dave Ramsey. Here you go.
“Dave Ramsey’s Baby Steps are designed to help you out of debt and stress and into a life of saving and giving. We’re all in different places with money. Start right where you are and get where you want to be. Know-how is 20% of the equation. Behavior change and self-discipline make up the other 80%. You can do it! Just follow the 7 steps.
Here’s The Process:
1. $1,000 to Start an Emergency Fund.
An emergency fund is for those unexpected events in life you can’t plan for. Whether there’s a plumbing issue and everything but the kitchen sink is draining, or your brakes are squealing at every stop sign, you can be ready!
2. Pay Off All Debt but the House.
List all debts but the house in order. The smallest balance should be your number one priority. Don’t worry about interest rates unless two debts have similar payoffs. If that’s the case, then list the higher interest rate debt first.
3. Have 3 to 6 Months of Expenses in Savings.
This step is all about building a full emergency fund. It’s time to kick debt for good, with 3–6 months’ worth of emergency savings. Sit down and calculate how much you need to live on for 3–6 months (for most that’s between $10,000–15,000) and start saving to protect yourself against life’s bigger surprises like the loss of a job. You’ll never be in debt again—no matter what comes your way.
4. Invest 15% of Household Income Into Retirement.
Now it’s time to get serious about retirement. With no payments and a full emergency fund, put 15% toward the retirement of your dreams. Between your 401(k), Roth IRA, and Traditional IRA, you have a lot of options. Find the fit that is right for you. The money you were using to attack debt can now help build your future.
5. Plan College Funding for Children.
College tuitions and housing expenses continue to rise. Don’t let college sneak up on you. Saving now will put you ahead of the game when your kids graduate from high school. Two smart ways to save for your kids’ college are a 529 college savings fund or an ESA (education savings account). These are both tax-advantaged savings vehicles that let you save money for your kids’ education expenses.
6. Pay Off Home Early.
It takes the average family five to seven years to pay their home off early. Just imagine life with no mortgage. There’s only one more debt standing in the way of freedom from all debt! Apply all the extra money toward paying off your home. Not only are you paying off your home early, you’ll be saving tens of thousands of dollars in interest fees.
7. Build Wealth and Give.
This is the last step and by far the most fun. It’s time to live and give like no one else! Build wealth, become insanely generous, and leave an inheritance for future generations. You know what people with no debt and no payments can do? Anything they want! Now that’s leaving a legacy.
Great, So Where Do I Start?
The first step in taking control of your money is to create some cushion between you and life’s little emergencies. Start by getting $1,000 in savings. According to Ramsey, It’s easier than you think, and it’s worth it.”
Supposedly, it’s never too late to start. Many, including me, have to learn to crawl before we can walk – but we are a stepping. Baby steps are better than no steps at all. Baby steps will move mountains. No steps keep you exactly where you are. You choose.
I close with this famous quote which describes a state of mind that we don’t necessarily want to have. I think you will agree.
Too many people spend money they earned..to buy things they don’t want..to impress people that they don’t like.” –Will Rogers
Photo credit: www.tradereacts.com; Source: www.daveramsey.com

PostHeaderIcon A FOOL AND HIS MONEY ARE SOON PARTED

By Vernalee
imageA fool and his money are soon parted is an expression which refers to people stupidly and foolishly spending money without thinking about it . Their haphazard spending habits can leave them penniless.
They are known for their careless disregard for money. Old folks would say, “They spend money like its going out of style; “They just throw their money away;” “They blow their money the minute they get it; “Money doesn’t grow on trees.”
If you don’t take care of your bare necessities and essentials before splurging, falling into this category is easy. Budgetary planning is for the wise. Finances for the fool with money are always “up in the air” which is why they can go from riches to rags before you can blink your eye!
Financial prudence is better than calculated brokenness. If what’s going out is more than what’s coming in, there is a problem; a shortfall or deficit as accountants would say. To rectify this matter, either you must add, multiply, or make up the difference. Using “Solomon’s wisdom” won’t hurt. Handling money is a learned skill set. It is challenging and not easy. Most of us struggle with money management and have to watch every penny. It really does start with the lowest denomination. For certain, “A penny saved is a penny earned.” Now,
a penny for your thoughts …
Photo credit: www.linkedin.com

PostHeaderIcon THROWING GOOD MONEY AFTER BAD

By Vernalee
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“Throwing good money after bad.” You know the phrase all too well. We throw good money after bad when we –
Waste good money after wasting it once; spend more money on something that has already failed; spend more and more money on something that will not be successful.
Often times, this spending defies logic; other times, we may feel like we are patching up something until we can do better. In the final analysis, the net results are the same. No good comes out of bad! Starting fresh as painful as it may be or as difficult as it is to start over may be the best solution. Sometimes it’s an oxymoron. Think about it? Amazingly people with money flowing out of their pockets always ask the person in need, “If money was not an object, what would you do?” Who sounds worst; the rich one asking or the poor one answering? Money is an object; it’s a major issue for those without. It’s why the “have-nots” are patching up the old car, because there is not available money in the coffers to buy a new one. Stop being so critical! Not all who have little are lazy. Some have become victims of circumstances; others need direction or a helping hand. Sorry, I didn’t hear you! Did someone offer suggestions on how a second chance could be provided? Did anyone help the person in need? If so, did you provide a one time fix or are you teaching them how to fish? Of course not, you did neither. It’s not your problem; it’s theirs! Are we hypocritical when we sit on the front row in church every Sunday, but “throw” our money everywhere but to help the unfortunate? There is an old saying that “Nothing is worse than watching money go down the drain” and/or “throwing good money after bad.” I disagree. Watching people suffer when we can help is worse. Altruism never goes out of style. The cycle will continue until all become engaged in the helping process. But what do I know! I am just a country girl from the small poverty stricken town of Glen Allan, Mississippi who was taught that giving is better than receiving!

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