Tag Archives: personal finance

5 Secrets for Financial Success

Everyone could use a few extra dollars in their pocket. But what if you aren’t sure how to turn this daydream into reality? What if you need a few pointers to help you improve your financial standing? Here are just five tips for increasing and maintaining a high level of personal wealth.

1. Don’t Sit On Your Money

While it’s important to save, it’s equally important not to stick all of your money in a bank and forget about it. Those accumulated funds should be put to work to accumulate even more funds. For example, you might invest in something worthwhile or use your savings as capital to start your own business. The goal is for each dollar to generate its worth instead of just collecting dust under your mattress.

2. Have Multiple Income Streams

Very few millionaires earn their money through one source. They usually have jobs, investments, properties and commodities that are continually bringing them income across various platforms. If you’re serious about not wanting to live paycheck to paycheck, make sure that paycheck isn’t the only way you’re earning cash.

3. Dare to be Different

Don’t be afraid to think outside of the box. Many financially successful business leaders got their start through unconventional or unexpected means, including men like Kuba Jewgieniew. He went into real estate with a background in web design, and what do you know? His business, the Realty ONE Group, was shortly worth millions.

4. Understand the Market

Whether you’re attempting day trading or looking to buy into a franchise, it’s critical that you know what you’re doing before any money gets brought into it. Do you know how to read the stock market? Do you understand things like target demographics and supply and demand? If not, do your research.

5. Never Give Up

It may sound like an obvious piece of advice, but you’d be surprised by how many people get dejected by a bad deal or a failed investment and never attempt it again. This is a mistake! Everyone experiences a financial setback at least once in their life, so you simply can’t give up. Take failure as a lesson and move on.

These are just five secrets that you can apply towards doubling or even tripling your bank account. It might not be easy, but when you’re buying that new car or moving into your new mansion, your determination and diligence will prove to be worth it.

925 Ideas to Help You Save Money

925 Ideas to Help You Save Money

925 Ideas to Help You Save Money, Get Out of Debt and Retire A Millionaire: So You Can Leave Your Mark on the World

Personal Finance

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Author:Devin D. Thorpe


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Devin Thorpe has collected over 150 essays on personal and family finance to help you learn how to be happier with your money, to live more frugally and investment more wisely. 925 Ideas… is an easy and readable guide to help your family find fina …

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Budgeting – What Is The Definition Of Personal Finance

If you find yourself asking where to begin with learning proper finance, start with the definition of personal finance, budgeting. Why the definition of personal finance is budgeting we will outline in the following article, because truly there is no more important lesson as to what proper financial management entails, and what will most directly contribute to your success with your money.

There is a huge range of personal finance software to choose from. These software packages range from simple programs where you record income and expenditure to the more sophisticated which allow you to import bank statements, look after your investments, set up budgets ( both for household and personal) and schedule payments.

Even if your needs are very straightforward at the moment, it is probably better to buy software with the additional features as they will probably be very useful in the future. Some of the best packages will actually collate all your information and give you the basis for your self assessment return – cuts out all the panic as the deadline for your assessment approaches. Before making your choice, look at several different packages and read the reviews or check out some consumer advice sites. Personal finance software is fairly cheap and suppliers can give you support and answer your questions.

Proper managing of one’s debt, income and expenses is the soul of managing your money and that is why the definition of personal finance is budgeting. There is no need to get more complicated than this, with your credit cards, payday loans, investments and stock options, you will find yourself on a sound financial footing if you keep a detailed budget, follow your money, and ensure that you spend less than you earn each and every month.

To properly budget your personal finances you simply add up your sources of income, account for every penny that you have flowing to you each month, and track every expense. I am not concerned with the exact system you employ as long as you are detailed and know how your money is flowing. Track your loans, and if you have bad credit lenders, know how much you are spending in interest. Track your credit cards and what amount of your payments applies to principle and what cash goes towards interest. Make knowing your finances your business and when you have an accurate picture of the flow of your money, then work to improve your finances.

Most mistakes of personal finance are made because honest, hardworking people have an unclear, or foggy idea of how their money is spent from month to month. With a little attention to the details of your cash flow you will find that there are countless ways to save additional money, and increase your income. Keep a focus on the basics of personal finance and never forget that the definition of personal finance is budgeting. You too can start making a profit today.

Frank Miller has a Debt Consolidation Blog & Finance, these are some of the articles: Private Money Lenders: Another Funding Opportunity You have full permission to reprint this article provided this box is kept unchanged.

Solid Advice To Help You Manage Your Personal Finances

Learning to intelligently manage your personal finances can mean the difference between being financial healthy and secure, and ending up bankrupt or severely in debt. It is not easy to learn to manage your finances in the right manner, but it is something that you can, and must, do. Continue reading this article to learn more.

If one wants to give themselves better chances of protecting their investments they should make plans for a safe country that’s currency rate stays strong or is prone to resist sudden drops. Researching and finding a country that has these necessary characteristics can provide a place to keep ones assets secure in unsure times.

If you have lost a prior home to foreclosure, this does not mean that you are out of home owning altogether. You should be able to get a government-backed mortgage through Fannie Mae, Freddie Mac and the FHA, in as little as three years after your previous home has foreclosed.

In order to maximize your personal finances, consider hiring a financial professional who can advise you about areas like investments and taxes if you can afford to do so. This’ll mean big savings in the long run, as someone who manages money matters for a living will not only be able to alert you to areas where you’re spending money unnecessarily, they’ll also have a much broader insight into investments as well.

Do not take on more debt than you can actually handle. Just because you qualify for the loan for the top of the line model of the car you want doesn’t mean you should take it. Try to keep your debts low and reasonable. An ability to get a loan doesn’t mean you’ll have the ability to pay it.

If you’re very good at paying your credit card bills on time, get a card that is affiliated with your favorite airline or hotel. The miles or points you accumulate can save you a bundle in transportation and accommodation costs. Most credit cards offer bonuses for certain purchases as well, so always ask to gain the most points.

If you and your spouse have a joint bank account and constantly argue about money, consider setting up separate bank accounts. By setting up separate bank accounts and assigning certain bills to each account, a lot of arguments can be avoided. Separate banks account also mean that you don’t have to justify any private, personal spending to your partner or spouse.

Taking advantage of a bank’s program to automatically make deposits into a savings account, can be a wise personal finance move. Many banks offer such programs. They take a fixed percentage of every deposit or a set monthly sum out of a customer’s checking account and deposit it in a savings account. This can help the customer build up savings without any hassle.

When applying for a home loan, try to look good to the bank. Banks are looking for people with good credit, a down payment, and people who have a verifiable income. Banks have been raising their standards due to the increase in mortgage defaults. If you have problems with your credit, try to have it repaired before you apply for a loan.

Make regular contributions to your savings account. It will provide you a buffer in case money should ever run short and you can use it as a line of your own personal credit. If you find something that you want to buy, take that money out of your savings and make payments to yourself to pay it back into the savings account.

In an economy where every penny counts, it’s important to know how to effectively manage your finances. The advice given in this article should give you some good starting points to managing your money and keeping your head above water financially. Some of these tips may not work for you, but hopefully at least a few of them gave you the information you needed to get you on the right track.

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