CUTTING DEBT TO INVEST MORE —– BUILDING WEALTH MAY SEEM DIFFICULT BUT IT IS EASIER THAN YOU THINK — SET THE GOAL TO ACHIEVE WEALTH, LOTS OF SELF HELP BOOK/HOW TO BOOKS AVAILABLE ON THIS SITE TO START, AND SET OBJECTIVES — WHY DO YOU WANT MORE WEALTH?????

CUTTING DEBT to Invest More

The process of generating wealth, which can be achieved with even minimal income, requires commitment to basic measures. The measures that can lead to the generation of wealth, if properly implemented are highlighted below.

Budgeting
It seems pretty obvious

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That budgeting should be one of the top measures implemented to spend less and invest more.

As cliche’ as budgeting may seem, it still serves as an established means of spending less of one’s income and investing more of the income.

For budgeting to be effective, a budget has to be functional and include all kinds of expenditure, from the emergency expenses to the regular expenses.

Penalties for exceeding the budget should also be stated and implemented appropriately. An effective budget should be a proper reflection of one’s financial habits and should aim towards cutting unnecessary expenses.

Allocating funds to separate accounts

Having separate accounts, especially savings account, where different categories of funds can be kept is another measure that can be implemented to ensure the most minimal spending.

The allocation of funds to different accounts works better when measures for ensuring that the allocated funds for a specific purpose are not used for other purposes.

For example, an account where regular savings are kept should not have a debit card to ensure against undue withdrawals.

Restricting luxury expenditure Continue reading “CUTTING DEBT TO INVEST MORE —– BUILDING WEALTH MAY SEEM DIFFICULT BUT IT IS EASIER THAN YOU THINK — SET THE GOAL TO ACHIEVE WEALTH, LOTS OF SELF HELP BOOK/HOW TO BOOKS AVAILABLE ON THIS SITE TO START, AND SET OBJECTIVES — WHY DO YOU WANT MORE WEALTH?????”

HOLIDAY TRAVELING/HEALTHY LIVING

TRAVEL AND HEALTHY LIVING

Sо you’re аbоut to launch ѕоmе vacation tіmе on аnоthеr hоrіzоn. Gооd fоr уоu! But you know frоm experience the dаngеrѕ this саn роѕе tо your hеаlth.

Yоu rеmеnbеr thаt vасаtіоn when уоur sinuses gоt more ѕtuffеd thеn a turkеу on Thаnkѕgіvіng аnd уоur hеаd fеlt lіkе a bowling bаll thаt just fіnіѕhеd a 300 point gаmе bу Kingpin!

Thе mоѕt іmроrtаnt thіng tо rеmеmbеr thоugh is thаt уоu ѕhоuld еnjоу уоurѕеlf, not thіnk аbоut if the dessert frоm the Pаrіѕіаn bakery іѕ going tо mаkе you fаt. Whеn іѕ thе nеxt time уоu’ll bе іn Paris, аnd whеn wаѕ thе lаѕt time оnе thіng made уоu fаt?

Enjоу іt! Just don’t go overboard. That ѕаіd, hеrе аrе some tips fоr kееріng fit while trаvеling.

-Eаt lіkе a lосаl: If you’re in a fоrеіgn соuntrу, іt’ѕ muсh еаѕіеr tо fіnd unprocessed, unrеfіnеd fооdѕ thаt аrе balanced and good fоr you.

Thеу аlѕо don’t hаvе thе mаѕѕіvе portion sizes thаt wе dо іn Amеrіса. If уоu’rе mostly a domestic trаvеlеr, thіѕ obviously wоn’t apply, but ѕtісk the general guidelines I have thrоughоut thе site.

-Shаrе dishes: Ordеr a few small рlаtеѕ and ѕрlіt it аll, оr уоu can get an арр, еntrее, and dessert tо split wіth twо реорlе. Thаt wау, уоu not оnlу gеt tо trу a wide vаrіеtу of nеw thіngѕ аnd multiple соurѕеѕ, but уоu саn аlѕо сut back оn thе аmоunt you еаt.

-Make іt аn active trір: I fоund this еѕресіаllу easy іn more rurаl lосаtіоnѕ. Yоu саn hіkе, kауаk, go rосk сlіmbіng, etc. If you’re іn a mаjоr city, tоur thе city оn foot. Yоu’ll bе mоvіng аll dау, аnd will dеfіnіtеlу gеt уоur fіll of еxеrсіѕе

-Lіԛuіdѕ: Drinking water lіkе a саmеl mіght be еxсеѕѕіvе. Hоwеvеr, drіnkіng a lot of water wіll hеlр уоur body rеmоvе tоxіnѕ which, іn turn, hеlрѕ уоur іmmunе system maintain реаk funсtіоn.

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Alѕо, wаtеr асtѕ in the сеllѕ lіkе oil іn mасhіnеrу. It keeps everything mоvіng properly.

-Eat Healthy: It’ѕ two dауѕ bеfоrе уоur flіght оut аnd you’re ѕсrаmblіng to finish lаѕt minute рrераrаtіоnѕ before уоu nееd tо pack. Hаіrсut: сhесk. Nеw оutfіt: check. Lаundrу wаѕhеd: сhесk.

Wіth аll уоur tо-dо lists, іt juѕt ѕееmѕ mоrе соnvеnіеnt and time еffісіеnt tо оrdеr some fаѕt fооd оn thе wау tо the ѕuреrmаrkеt. Down it gоеѕ аѕ fast as it came оut thе drіvе-thrоugh wіndоw аnd уоu’rе оff tо the nеxt thing.

Hоwеvеr, уоur bоdу nоw has to divert rеѕоurсеѕ to dіgеѕt this classic mix of saturated fаtѕ аnd starchy саrbѕ. For the nеxt ѕеvеrаl dауѕ аѕ уоur body dіgеѕtѕ this, іt can оffѕеt your immune ѕуѕtеm, making you mоrе ѕuѕсерtіblе tо іllnеѕѕ durіng your hоlіdау соmmutе.

-Avоіd аlсоhоl аnd ѕugаrу drinks(including juісеѕ): Your bоdу trіеѕ tо rеmоvе alcohol frоm уоur bloodstream whісh rеѕultѕ іn rеѕоurсеѕ bеіng diverted frоm уоur immune system.

Likewise, thе ѕugаrу drіnkѕ ѕріkе your blood ѕugаrѕ whісh саn tеmроrаrіlу depress уоur іmmunе ѕуѕtеm(ѕоundѕ ѕаd!).
-Bring еxеrсіѕе bаndѕ wіth you: They’re еаѕу tо расk, аnd сhеар to buу bеfоrе you gо if уоu dоn’t hаvе thеm. Yоu саn wоrk оut your arms with those, аnd уоu саn do push-ups, crunches, squats, аnd lunges wіth уоur оwn bоdу wау.

-Try nеw аnd strange things: Snails, ѕрісу bugѕ, fish hеаdѕ, oh mу! Thеrе аrе a lоt of іntеrеѕtіng and unique foods you can try out in оthеr сulturеѕ, so give it a trу.

Nо mаttеr hоw strange, thеу’rе аlmоѕt guаrаntееd tо bе fаr bеttеr fоr you than thе рrосеѕѕеd fооdѕ wе hаvе іn the US.
Thе main thіng to keep in mind іѕ thаt уоu аrе оn vасаtіоn аnd you should еnjоу, experience, and rеlаx.

You’ll nеvеr dо thаt if уоu’rе ѕtrеѕѕіng аbоut thе саlоrіеѕ уоu’rе еаtіng оr hоw lоng іt’ѕ been since уоu’vе hіt the treadmill, ѕо juѕt lіvе іt uр! Continue reading “HOLIDAY TRAVELING/HEALTHY LIVING”

KICKING OFF 2021 WITH AN INVEST MORE SPEND LESS DEBT FREE LIFESTYLE

Spending Less to Invest More

The process of generating wealth, which can be achieved with even minimal income, requires commitment to basic measures. The measures that can lead to the generation of wealth, if properly implemented are highlighted below.

Budgeting
It seems pretty obvious that budgeting should be one of the top measures implemented to spend less and invest more.

As cliche’ as budgeting may seem, it still serves as an established means of spending less of one’s income and investing more of the income.

For budgeting to be effective, a budget has to be functional and include all kinds of expenditure, from the emergency expenses to the regular expenses.

Penalties for exceeding the budget should also be stated and implemented appropriately. An effective budget should be a proper reflection of one’s financial habits and should aim towards cutting unnecessary expenses.

Allocating funds to separate accounts

Having separate accounts, especially savings account, where different categories of funds can be kept is another measure that can be implemented to ensure the most minimal spending.

The allocation of funds to different accounts works better when measures for ensuring that the allocated funds for a specific purpose are not used for other purposes.

For example, an account where regular savings are kept should not have a debit card to ensure against undue withdrawals.

Restricting luxury expenditure

It has been well established that living below one’s means is a clear-cut method of building wealth. In achieving less expenditure and more investments, it is thus important to implement practical methods of restricting undue spending.

One of such methods that can be implemented is the taxing of such undue expenses.

Taxing these expenses increases the cost of undue expenses thus restricting one from engaging in them. For example, for every family vacation, for example, a certain amount must be put into the savings account, to balance up that expense.

Thus, whenever one thinks of a family vacation, they would consider the cost of the vacation as well as the saving equivalent and plan properly towards such expenditure.

Investing

As much as it is important to save, it is more important to invest savings. A saying goes thus, “No one ever get wealthy from leaving money in a savings account”.

The mindset of continuous and long-term investments is a necessary mindset for developing wealth. While investing, it is important to implement certain important measures such as balancing one’s saving portfolio with long and short-term investments.

It is also important to focus on low-risk investment options and seek appropriate financial advice as necessary.

Reducing debt

A common feature of the different types of loans is the interest they attract. As a result, reducing debt is an effective measure for ensuring less expenses, saving more and investing more.

Debt reduction measures should be applied across all forms of debts, from credit card debts to college loan debts.

A certain proportion of one’s regular income should thus be set aside for servicing debt and ensuring a healthy credit profile.

Ultimately, financial freedom can be attained when one adopts measures of appropriating income to achieve the most minimal spending and best saving.

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HOLIDAY SHOPPING — SHOP TILL YOU DROP — WATCH THOSE OVER LIMIT CREDIT CARD FEES

Credit – Over the Limit

Credit cards are wonderful tools, but they come with serious responsibilities.

You should be using a credit card to your advantage – whether that means getting an interest-free loan every month by paying your balance off in full, or just the simple security and satisfaction that having extra buying power at your fingertips can bring.

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Imagine you had a credit card was a $500 limit, and in the run-up to Christmas, you nearly maxed out your card.

Before taking that last shopping trip of the season, you went online to check your balance and saw that you had $19 of available credit. “No matter,” you say to yourself, “I’ll pay the balance in full when I get my Christmas bonus from the office.”

The only other charge you made was for a couple of mochachinos at the local coffee house, but two days later you were shocked to learn that you somehow went over your credit limit! Worse yet, your card company hit you with a $29 fee! The Mochachino That Broke the Camel’s Back

This can happen a lot easier than you might expect. In the above example, you may have recently “paid at the pump.” Oftentimes a gas station charges your card only $1 at the point-of-purchase and applies the remainder of the charge to your card later that day (or the next day).

Let’s say you had $17 in gas that you forgot about. That would reduce your available credit to $3 ($19 – $17 + $1 for the refunding of the temporary charge).

Then when you bought two $2.50 drinks, you pushed your balance to $502, exceeding your credit limit by $2, and receiving a whopping $29 fine. It happens all the time.

The real question should be, “Why do credit card companies let this happen?” After all, couldn’t they just reject your card at the coffeehouse?

The gas station reserves the funds on your card even before it charges them, so shouldn’t you not be able to buy the coffee and go over your credit limit? It depends.

Some people would find this embarrassing fate more horrible than the $29 over-limit fee, particularly if the second coffee was for a romantic interest or client. But the reality is that credit card companies exist in the world to make money.

There’s nothing wrong with that, but you need to be aware of the fees and expenses associated with your card and do your best to avoid them. Tips for Avoiding Over-Limit Fees

1. Use a separate card for your gas purchases. Since “pay at the pump” can distort your true balance, it is wise to use one card exclusively for gas.

This can be an actual gas card or just a regular card card that you designate as your own gas card. It might be okay to have some recurring charges (cable bill, subscription charges, etc.) also on the card, but don’t use it to make “discretionary” purchases.

If you have $200 of recurring charges on your card and you typically spend $80 a month on gas, this means you’ll only need a card with a $300 limit.

Then again, $500 would be better for a little cushion in case you spend more on gas – either because you take a trip or because gas prices to through the roof!

2. Check your balance on a daily basis. If you maximize the benefits of your credit cards by nearly maxing them out each month and then paying off the balance in full, then you need to spend a little more time making sure managing your cards.

Check your balance online every day and look at the itemized charges. Sometimes changes don’t show up right away, so be on the lookout for anything that’s missing. And if you do use your card for gas, make sure you keep your gas receipts so you know how much you really spent when your statement still says “$1.”

The Real Cost of Exceeding Your Limit

No one likes paying $29 extra for a couple of coffees, but the even greater cost of going over your credit limit is the damage it does to your credit.

Many card companies begin charging you the maximum interest after just one overage – and not the card you went over on. An entirely unrelated company might also jack up your interest rate, even though you’ve always paid your bills on time with them, so do everything you can to avoid going over.

Credit cards are wonderful tools, but they come with serious responsibilities. You should be using a credit card to your advantage – whether that means getting an interest-free loan every month by paying your balance off in full, or just the simple security and satisfaction that having extra buying power at your fingertips can bring.

But when you start paying $29 fees and higher interest, you are letting the powerful tool wield itself against you. Be a smart consumer, but also check the over-limit fees and practices of cards before you sign up for them.

No one intends on exceeding their credit limit, but it does happen to most people, so be aware!

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