Save Money like a Boss

save-moneySave Money like a Boss

If you want to save money like a boss, you are going to have to start thinking like a boss! Do not get caught up in the excuses for not saving money. It may seem like external forces are keeping you from saving money but the truth is a little more heartbreaking. If you are not saving money, it is because you do not want to. WAIT! Before you angrily click away, stick around a few minutes and learn why how you think about money is affecting what you are doing with it. (Trust me, you will be glad you did)

Assets and Liabilities

You might think a discussion on assets and liabilities is a bit much when you are talking about saving money. After all, you are probably not a business owner or big time investor. The truth is your life is full of assets and liabilities. The problems come in when you have more liabilities than assets. Take for instance:


  • Income
  • Investments- stocks, bonds, real estate


  • Debt
  • Vehicles
  • Home
  • Credit card purchases

Basically, anything that takes money out of your hand is a liability and anything that does or could potentially increase the money in your hand is an asset. Many people group their home into the asset category and it can be. Just realize until you owe less for it than it’s worth, it is a liability.

Now the question is how much money are you shelling out on liabilities? How many times do you stop for your favorite Starbucks coffee? Did you recently purchase a bigger television or newer car even though the ones you had were in good working condition? Do you see where this is going? You have to change your mind set about money and your ability to save because in most cases, you have several dollars per week you could stick back. You just have to re-purpose the cash you already have.

No Bashing Zone- Money Saving Tips

Look, you may be thinking at this point that all we want to do is beat up on you about your spending habits. Totally not the case. There is nothing wrong with enjoying some of the finer things in life. The question that remains is are you in the financial position to do that yet?

You can easily save around 1400 dollars in the next twelve months by trimming the fat in your budget and working on a savings plan. Aside from spending, the biggest barrier to savings for most people is simply getting in the habit of doing so.

Simple Savings Plan:

Start your simple plan today with $2. Yes, you read that correctly. Put two dollars in your savings account this week and next week put in three. Over the course of the year, increase your savings by one single dollar until you reach 52 weeks. You will never put more than $52 in the savings account in one week and at the end of the year, you will have amassed a tidy $1378. Hey, that is enough to take a nice small vacation or better yet start investing in your dreams. Do you want your own business? Have an invention idea? Slow and steady may not be sexy or exciting but it will get the job done!

Boss Mentality

Now that you have been saving for a while, it feels like second nature and you should be seeing your purchases in a different light. It is at this point that you begin to process money matters like a boss. In other words. focus on ways to bring in and save money rather than spending it!

How To Stick To Your Budget (infographic)

The best-laid plans of mine and men often go astray, or so the saying goes. There’s a good reason why we have idioms like this, because they are largely based on truth and experience. Ask anyone who’s tried to save money regularly and they’ll tell you that despite the best intentions in the world, a badly-timed bill, rising living costs and just paying for everyday items can get in the way of saving.

For example, according to the MYJAR infographic, the average Brit spends about £554 a year, per person on their holiday. It’s not a huge amount but break it down and you’ll have to be putting away about £50 a month to pay for your two week break. Add in the cost of a family, or a few kids to pay for too, and it can soon start to be a bit of a stretch.

Even small expenses like newspapers, the occasional drink with mates or a takeaway can put a big dent in your planned budget. Yet we need little treats like this to make life enjoyable. After all, there’s another saying that all work and no play makes Jack a dull boy. And there’s a very good reason why that has endured too.

So, if you find yourself short at the end of the month, you won’t be the only one. However, an easy and quick short-term loan might be the just the ticket to keep your plans in place.

Warning: Late repayment can cause you serious money problems. For help, go to

MyJar v7a

Five Core Money Principles for Better Money Management

Your perspective about money speaks much of your capability to make the right decisions when it comes to money management. Many people find themselves in a financial mess, enormous debts and no retirement savings because they fail to live by the right principles when handling their finances.

To become better at personal money management, there are basic principles that you need to keep in mind, and they are the following:

Principle #1: Don’t Spend Beyond Your Means

This is the central idea in effective personal finance management—to spend less than what you earn, and to strive to earn more. Having the discipline to live below and within your means is crucial in budgeting, saving and investing. Make sure that you daily, weekly and monthly expenses do not go beyond what you paycheck allows, or you will find yourself in enormous debts and empty bank accounts when you need money the most.

Principle #2: Be Mindful of Your Expenses

Don’t let a single dollar out of your pocket without carefully considering whether or not you need to spend it. Cut off expenses where you can in all the areas of your life so you can make allowance for other needs, especially for your savings. Be critical in all your expenses. Here is a great FREE spending app available from Amazon for use on all Android devices that tracks your spending. It’s called Spending Tracker.

images (2)Principle #3: Eliminate Debts ASAP

Focus on eliminating your debts. Enormous debt not only cause stresses but it actually stops you from achieving the financial freedom you long for. They disrupts cash flow and their interests can accumulate overtime. So, strive to be debt-free!

Principle #4: Learn and Do Investment

Money-smart people know that they also need to make their money grow and not just keep them. Educate yourself about investment options out there. Choose low risk investments or reap higher rewards with higher risks. Whatever you choose, invest your money and let it grow. Read more on our review of Betterment.

Principle #5: Set Goals and Strive to Achieve Them Consistently

Make goals for yourself and stick with them. Create long- term, mid-term and short term goals and direct your every step towards achieving them. Having a set of goals will help you keep track in your effort towards better money management and financial stability. Once you reach goals, replace them with new ones. Don’t stop achieving!

What Is An Annuity?

Some terms can be used by financial advisers and money pages in the newspapers that end up making a simple idea sound more complicated that it really is. An annuity is one of these words, although it is actually a very straightforward concept that most of us are already familiar with. Basically, an annuity is any continuing payment with a fixed total annual amount, therefore it can refer to any stream of fixed payments over a specified period of time or in the case of a ‘Life’ annuity a financial contract providing payments for a person’s lifetime. Fixed And Variable Annuities As with many other financial products, there are both ‘fixed’ and ‘variable’ versions of an annuity. Variable annuities are used for many different reasons, often to do with deferring taxable gains. Money deposited in a variable annuity usually grows on a tax-deferred basis so that any taxes due on the gains made from that investment are not due until a withdrawal is made. Annuity Insurance Products Other annuity products include joint-life and joint-survivor annuities, where payments stop upon the death of one or both of the parties. There are many different types of life cover apart from annuities, so it is important to make sure you are aware of all the various packages and products on offer before you decide which one is right for you. The easiest way to work out what you could expect to gain from this kind of product is to use an online annuity calculator like the one provided by By simply entering some basic details you can quickly and easily find out all you need to know. Budget As with any kind of financial planning, you need to work out exactly how much money you can afford to put aside for an annuity and to make sure that you won’t become over stretched at any point in the future. There is little point if it means making sacrifices that are simply too expensive in the present moment. Professional Advice Of course, arming yourself with as much information as possible is the only sensible way to approach any financial planning move, but often there does come a point where professional advisers can help you make the most of the route you decide to take.

Using Technology to Set your Budget

mobile moneyIf you are someone who struggles to manage their money then you could really benefit from a mobile budget or expenses tracking tool to determine where you overspend. Modern technology has opened up a world of opportunities for us to access all kinds of resources on the move. Advanced mobile operating systems such as Google’s Android now allow us to access sophisticated programs and tools on the go, giving us no excuse not to budget or be aware of where our money is going! Use a mobile device to get yourself organized and take advantage of the additional features that can be enjoyed absolutely anywhere.

Easier finance management

For anyone who needs to instantly update their budget or track their spending, a mobile application is perfect. You can literally see in real time where your money goes and there are no missing receipts or losing pieces of paper along the way. Mobile finance resources have simplified budgeting and allow for easier finance management that can be accessed at any convenient time.

Budget for fun

How many times have you  realized  just how much money you spend on entertainment after the fact? Budgeting for entertainment is incredibly important and needs to be considered when creating a list of expenses. If you are keen on mobile gaming then a great idea is to set aside some cash for that and see if you can win big when playing on your mobile. A site like  offers a great selection of big jackpot games that have been  optimized  for play on your Android device. Combine fun and great rewards and with a bit of luck you could set yourself on the road to riches.

 Save more with technology

Mobile budgeting tools make it so much easier for you to see where your money goes. It has become so simple to manage your finances that there really is no excuse to incur debt unnecessarily. Good management of your finances could lead to above the norm savings potential, which in turn may lead to investment opportunities or more money to spend on yourself and the activities that you enjoy.

So what are you waiting for? Use your Android mobile device to track your spending and budget your monthly income and take advantage of the state of the art technology that will help you manage your money.

photo by dominiksyka

How to Save Money on your Credit Card

credit cardsIn times of financial hardship, credit cards can be a life saver. Not only can you extend your limit to buy the things you really need, but you can also claim back reward points, which can be used to supplement your next bill. For those you are unable to manage their money however, credit cards can be extremely dangerous, and can leave you with vast amounts of debt, as well as a sketchy credit history.

Whether you’re a fan of credit cards or not, there’s no doubt that they play an essential part of everyday life for people all over the world. In many cases, credit cards can be good tools to have they will improve your credit rating the more you use them, but only when you pay your bills on time. If you fail to pay on time, or miss your minimum payment altogether, then credit card companies will be straight on your case, and rarely let up.

Because credit card companies make borrowing money a lot easier than applying for bank loans, it’s no wonder why people find them so attractive. Applying for quick credit usually means that you’re in need of fast finances, and if you’re already behind on your bills, then credit cards are not the way to dig yourself out of the debt hole.

We’ve all been there at one point or another, mindlessly spending money we don’t have on gadgets we absolutely need, holidays and clothes. If you’re credit has never spiralled out of control, then you’re one of the lucky few, and sadly millions of people every year are forced into insolvency because they’re unable to pay back what they’ve borrowed.

Black Holes

Credit card companies and banks openly take advantage of society’s desire to spend, spend, spend, and that’s why they make it so easy to get a credit card. From late payment fees to account charges, these companies make billions every year, but make no effort to deter the public from applying for credit that they simply can’t pay back.

When it comes to paying your bill, credit card companies offer customers a minimum amount, a figure that will keep the creditors at bay until your next statement. Little do people realise, is that paying the minimum is actually bad for your credit rating, showing that you’re over spending without being able to pay back a decent percentage of your debt. Worryingly, millions of people all over the world are applying for a credit card, and thus becoming slaves to credit card companies

Positive Financial State

No matter what age you are, it only takes one wrong financial decision to destroy your credit rating, so you must ensure that you don’t fall into the credit card trap. Your attitude towards borrowing is the first issue you have to address.

Credit is not real money  its borrowed time until you are required to pay back what you owe  plus interest! If you do own a credit card, make sure you take advantage of the benefits, instead of letting the creditors take advantage of you. Don’t allow the interest to pile up  only borrow what you can afford to pay back.

photo by moneyblognewz

Why Renting a Conference Room Makes Sense for Small Businesses

There are many reasons that a business may need to rent a conference room. For some businesses, room may be an issue. A business may be not be adept to hold a meeting and this can be a great reason to rent a conference room. If you are conducting a meeting for people all over the United States, a conference room in a different location than your business can also provide a more central meeting location. This will allow each person to get to this location with less hassle.

Renting a conference room can actually be very easy. A business can often secure a location with a simple phone call. You will need to find out some important information before you book any room for your next meeting. You should make sure that you are renting a space large enough to accommodate all of your guests. You also want to make sure that this room is available on the dates that you need. If you are using a hotel facility for your conference room, you may also want to make sure that accommodations for your out of town guests. If you are planning on renting out several hotel rooms for one night or more, you may be able to obtain a discount on these rooms.

Many small businesses have to complete a great deal of networking in order to maintain business prospects in the future. Conference rooms may need to be rented throughout the year and once you find a good, solid place to hold these meetings, you will have a place you can also use in the future.

Some small businesses do all of their work online and this presents a problem where there is simply no place to conduct meetings. One example is someone looking to book a boardroom meeting room in Hong Kong. You can check for meeting sites in your local area to conduct meetings. There is also another great reason that you may need to rent out a space. Holiday parties and other fun employee functions can be held in meeting rooms. This can give you a great opportunity for team building and bonding in a more relaxed setting.

When you rent a conference room you may also have access to state of the art equipment. This can allow you to reach those remotely that are unable to attend this physical meeting. You can always inquire about what features are available for your next meeting. You will often find that there are some great features you can use with a standard conference room. This is always worth inquiring about to see if you can enhance your next meeting.

Drinks and refreshments can be an integral part of a meeting. If your guests are hungry and thirsty, they can be distracted. When you offer drinks and refreshments you can keep others engaged with this meeting. You can inquire with the meeting facility to find out if there are any services offered to provide these refreshments for your next meeting. There are some great steps you can take as a small business to ensure that your next meeting is very productive.

Why The Envelope System is Perfect for a Marriage

When it comes to marriage, we’re told that we have to value compromise, and nothing has turned out to be truer. I’ve found that compromise is the only way that two people with their own thoughts and opinions can comfortably work witenvelope systemh one another toward a common goal. One of the most important topics that we compromise and work on every day is our finances.

Of all the money management ideas that I’ve tried, I can say that the envelope system works especially well for my husband and me. The reason is because it’s easy, it’s predictable, and it helps to build good habits.

If you’re unfamiliar with the envelope system, it was popularized by none other than the personal finance guru Dave Ramsey. Essentially, you operate on a cash only basis, splitting up your paychecks into different categories and placing them into envelopes. (You can also purchase cute fabric envelops if you want to be environmentally friendly.)

Here are our categories:


  Car Payment






Yes, we do have a category that says Oops!That’s what we use if we run out of money in one of the other envelopes! The only envelope that we typically burn through is Food.We often get tired after a long day at school/work, and we want to go out to eat to make our lives easier. We either need to budget a little more for food or cut the eating out habit a little more! We’re working on it, but that’s why the envelope system works for so many people. It shows you where you need to improve, and it helps you to remain accountable.

Some couples like to have an extra envelope for spending money, but when I set up the envelopes every month, I put a little bit of cash in my wallet and my husband’s wallet. This is for little things throughout the month that aren’t big enough to merit their own category. Because we use this system, we both feel like we have control over our financial future. We also feel like we are equal, because both of us are getting the same amount of money put in our wallets for incidentals.

This also builds a great sense of teamwork. While I typically have the envelopes in my possession, we both know that they’re there. We both know that we have limits and that every day we make choices on how we want to spend our money.

While every couple is different, I think it’s important to note that we still use a debit card for many of our monthly bills. For example, I always pay my student loans and cell phone bill with my card online. This is just an easier and more convenient form of payment for us. However, it’s the same payment every month so it’s very easy to budget.

Essentially, you can customize this system in whatever way suits your needs best. I know that there are many other ways you can organize your finances with your spouse. Many people have fun money accounts. Others concentrate more on using credit cards to build points. However, what’s important is that you and your spouse are both on board with your method of organizing your finances. For us, this system works best.

How do you and your spouse budget and organize your monthly expenses?

photo by vectorportal

Business Finance Options

Even in the current economic downturn many businesses are starting up and others are spotting new opportunities for growth. To get a start up, or a new project off the ground quickly a business will often need to borrow money.

If you were to just listen to the news reports you’d be forgiven for thinking that finding finance to run, or better still grow, your business was an insurmountable task at the moment. If you have a project you need to get off the ground then finding the backing  shouldn’t  be a big hurdle with the right preparation and knowing where to look.

Arrange a Business Loan

The Business Case: You should expect to be asked for a robust business case, and that seems reasonable anyway. It can be a good exercise to sit down and build your business case from scratch  you will often have to face up to minor niggles and  inefficiencies  that you have got used to living with on a day to day basis, but when put on paper you realize that you have to do something about them.

You will find plenty of tutorials and samples online that you can base your case on. Your bank should be able to help too. But if you are looking to raise a considerable amount of capital it might be worth employing a professional to write your vision in a way that will appeal to the potential financier.

Borrowing money, the personal loan: If you haven’t been in business long, or you are just about to set out into the scary but exciting world of being self employed then you might need to borrow money from friends and family to help you start up.

An alternative could be a personal loan from the bank. You could even use your credit cards to raise a small sum but if you do be most conscious of the interest rate you are likely to pay, and the fact that drawing cash on a card results in immediate interest charges.

If you have some wriggle room in a mortgage it could be cheaper to borrow back up to your loan limit  or perhaps have a word with your parents about doing just that.

The business loan: If you have been in business for a while and you can provide healthy accounts than you should be able to arrange a business loan from your bank. While it may be a little more expensive than a personal loan, remember that the finance charges on a business loan are usually tax deductible.

Arrange a Business Loan

Likewise if you own your business premises then it might be worth considering a business mortgage on your premises, or an alternative is a sale and lease back of the land, or perhaps some of your longer life assets. With a sale and leaseback deal you retain the use of the asset, but you realize its value in a lump sum. In return you pay a monthly lease for its use including an interest payment which is usually tax deductible.

Invoice Finance: Many businesses find that while their turnover is good, they have a problem with creditors taking too long to pay their invoices and this leads to a cash flow problem. A potential solution is an invoice finance arrangement that releases much of the value of the invoice back into the business for a small fee, or interest paid on the amount financed. The service can often be discrete if the business  doesn’t  want its customers to become suspicious that the business might be in trouble. Although in actual fact so many businesses use invoice finance, or factoring as it’s often called that it is just considered good business sense. You can talk to an independent factoring broker to find the best deal from a lender experienced in your market.

Don’t let a lack of funds hold you back. If you know what you’re doing and can demonstrate a healthy potential for your business then you should be able to raise the capital you need to grow.

How To Stay Motivated To Stick To A Budget

motivationFebruary is here, and that means many of us are losing steam when it comes to our New Yea’s Resolutions.

While I’ve already accomplished some of my New Year’s Resolutions, I’m still lagging when it comes to others, like running regularly and eating better!

In fact, when I think about it, sticking to an exercise plan is very similar to sticking to a budget. They both take a significant amount of time, dedication, hard work, and accountability.

So, how can I stay motivated to run and at the same time, stay motivated to budget? Well, that’s easy. The same principles apply! Check out the motivators below:

Motivation: The Realization That It’s Good For You

I know that running is good for me. I have to stay in shape, I’m young, and there’s no reason why I shouldn’t be able to run for a mile straight (so far, I can only run a half mile before I have to start walking!) Running keeps my blood pumping and my heart rate high, which is good for my long-term health.

Similarly, budgeting is also good for me. It helps me to keep my finances in tip top shape. When I budget, I know exactly how far I’ve come and how far I need to go to reach my goals. Budgeting keeps my money organized, which helps me to avoid late fees and frustrations down the road.

Motivation: You Can’t Let Your Friends & Family Down

I absolutely cannot motivate myself to go running by myself. I will definitely cut corners and stop before I’m supposed to. However, when I am meeting a friend or running with my husband, I know I have to go a certain speed and run for a certain amount of time.

Similarly, when you budget, friends and family are great motivators to keep you on track. Do you and your spouse want to save for a house? Budget together! Do you want to pay off your student loans so you can finally declare yourself debt free? Tell your friend about it, and ask her to check in on your progress. Start a blog, get a twitter account; it doesn’t matter how you do it. What’s important is that you find a way to announce your budgeting goals to the world, so you won’t want to let them down. That’s motivation enough!

Motivation: Visualize The Reward At The End of The Road

As I run and my legs start burning, I really, really don’t want to keep going. Yet, when I visualize how I’ll look when I’m in tip top shape, it makes me what to keep putting one foot in front of the other. I know that nothing worthwhile comes easy, and I know that being in great shape won’t just fall out of the sky. I have to keep working, and that means remembering where I’ll be at the end of the road.

Similarly, I know there’s nothing enjoyable about eating in when you really want to go out. I know it’s hard to pass on the Starbucks coffee or that cute pair of shoes. Budgeting can really take the fun out of day-to-day life, but once you get the hang of it and start getting financially secure, it’s actually so much better than anything you could ever buy for yourself.

So remember, it’s all about the end goal (not the journey) when it comes to budgeting and running! I hope that the motivational techniques listed here can help you to have a happy and healthy 2013.

What are some ways that you stay motivated?

photo by psousa