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6 Little Spending Mistakes That Can Cost You Your Financial Freedom

Can’t seem to get ahead financially? Debts piling up? Maybe you’re making some of these mistakes unknowingly. These mistakes listed below will help you understand where you may be going wrong and how to get back on track quickly. You can be debt free.

Mistake 1. Living Beyond Your Means

This is the real cause of your worry and stress. If you are spending more than you are earning, whose money are you spending? It’s the credit card provider’s or the bank’s. The cost of this money is interest.

The way out – Make a Commitment to yourself only to spend within your income limits. Maybe you could increase your income (or cash in) by applying for more skilled positions, selling some of your unused articles or assets. Is the second car really a necessity? What about working out ways to make your hobby pay for itself?

Why not find ways to reduce your spending? How much would you save each year if you decided not to have the daily coffee shop coffee? Why not make your work lunch each day rather than buying it? Commit to only buying the necessities.

Mistake 2. Paying Off Less Than the Full Credit Card Balance Each Month

Get this debt under control and your life will be much easier. If you are like many others and only pay the minimum balance each month, the interest on the interest makes those purchases oh so expensive.

The way out – Find ways to put aside more money to apply to the credit cards. It will take time to reach this goal. However, if you don’t make a start now you may never pay them off. This situation did not occur overnight and neither will the solution. But, by diligence and commitment you’ll get there.

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June 17, 2009
General

Famous Quotes About Money

I love it when I come across interesting famous quotes.  Here are a few that I thought were either entertaining, interesting, or thought provoking.  Hope you enjoy them, too!

A nickel ain’t worth a dime anymore. -Yogi Berra

If money be not thy servant, it will be thy master.  The covetous man cannot so properly be said to possess wealth, as that may be said to possess him. -Francis Bacon

Money is like manure; it’s not worth a thing unless it’s spread around encouraging young things to grow. -Thornton Wilder

My problem lies in reconciling my gross habits with my net income.  -Errol Flynn

They who are of the opinion that Money will do everything, may very well be suspected to do everything for Money.  -George Savile

When I have money, I get rid of it quickly, lest it find a way into my heart.  -John Wesley

It’s good to have money and the things that money can buy, but it’s good, too, to check up once in a while and make sure that you haven’t lost the things that money can’t buy.  -George Horace Lorimer

Inflation is when you pay fifteen dollars for the ten-dollar haircut you used to get for five dollars when you had hair.  -Sam Ewing

Always borrow money from a pessimist, he doesn’t expect to be paid back.  -Author Unknown

It frees you from doing things you dislike.  Since I dislike doing nearly everything, money is handy.  -Groucho Marx

The economy depends about as much on economists as the weather does on weather forecasters.  -Jean-Paul Kauffmann

Money will buy you a pretty good dog, but it won’t buy the wag of his tail.  -Henry Wheeler Shaw

People are living longer than ever before, a phenomenon undoubtedly made necessary by the 30-year mortgage.  -Doug Larson

In the old days a man who saved money was a miser; nowadays he’s a wonder.  -Author Unknown

Money may be the husk of many things but not the kernel.  It brings you food, but not appetite; medicine, but not health; acquaintance, but not friends; servants, but not loyalty; days of joy, but not peace or happiness.  -Henrik Ibsen

If money is your hope for independence you will never have it.  The only real security that a man will have in this world is a reserve of knowledge, experience, and ability.  -Henry Ford

Do not value money for any more nor any less than its worth; it is a good servant but a bad master.  -Alexandre Dumas

Empty pockets never held anyone back.  Only empty heads and empty hearts can do that.  -Norman Vincent Peale

By the time I have money to burn, my fire will have burnt out.  -Author Unknown

That money talks I’ll not deny,I heard it once: It said, “Goodbye.” -Richard Armou

May 27, 2009
General

How To Sell Stuff on Amazon.com

We all know that you can buy stuff on Amazon.com, but not everyone is familiar with the Amazon Marketplace where you can sell stuff as well.  If you want to get rid of some clutter from your home or you are in need of some extra cash, selling stuff online is definitely an option.  Below are the steps you would follow if you want to sell your stuff online using the Amazon Marketplace:

1.  Go to Amazon.com and on the bottom left hand side of the home page, you’ll see “Selling with Amazon”.   Click on the link that says “Sell Your Stuff”.

2.   You will be taken to the “Sell Your Stuff” page that says:  “Earn cash by selling your stuff on Amazon.com. It’s easy, it’s fast, and it doesn’t cost you a penny until your item sells.”

3.  Amazon has 18 categories to choose from including Books, Video, Software, Baby Products, and Everything Else to name a few.  Select the category that is most appropriate for the item you want to sell and enter a keyword or title and click the “Start Selling” button.

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May 22, 2009
General

8 Things You Can Do With Your Tax Refund

1. Pay down high interest debt such as your outstanding credit card debt.things you can do with your tax refund As unappealing as this may sound, you will be much farther ahead financially the sooner you can get rid of your credit card debt or other high interest debt.

2. Put it toward your retirement savings, or if you haven’t started saving for retirement, start now with your refund money.

3. Build up your emergency fund. It is wise to have at minimum 3 months worth of monthly living costs saved up for a rainy day. Ideally, you should save 6 months worth.

4. Buy insurance that you would otherwise not be able to afford to protect your family in the event of illness or emergency. By using your tax refund, you don’t have to factor the expensive premiums into your monthly budget, making it much easier to keep your family protected without financial stress.

5. Service your vehicle. You may have neglected your car recently because you were strapped for cash. Now that you have the funds, take care of your car.

6. Do some home renovations that will increase the value of your home.

7. Put some extra money towards your mortgage. It’s always a great feeling when you can pay down your debt and think about how much interest you won’t have to pay!

8. If you have been really disciplined all year and already have an emergency fund and retirement savings plan in place, spend some of your tax refund on yourself! Enjoy a day at the spa or a meal at your favorite restaurant. Do something that you normally wouldn’t do and create a nice memory. Think of it as a reward for all of your hard work throughout the year.

April 29, 2009
General

10 Ways to Make Money Fast

If you are in need of some fast cash, here are some ways you can earn money quickly:

1. Sell stuff that you don’t need or no longer use. Yard sales are great for getting rid of larger items. For smaller stuff, advertise your items online and sell them on Ebay, Craigslist or Amazon. Offer to sell stuff for family and friends as well if they are unfamiliar with selling stuff online. You can share in the profits.

2. Tutor. If you enjoy teaching others, why not consider tutoring? I have had some great experiences teaching English to international students at a local university. Tutoring is a great way to supplement your income and you will meet a lot of neat people.

3. If you enjoy making crafts, make your favorite ones and sell them online at www.etsy.com.

4. Do odd jobs such as mowing lawns, trimming hedges, and shoveling snow. Advertise your services for free on community billboards.

5. Consider taking on a boarder if you have an extra bedroom and more than one bathroom in your home. You could also rent out your garage or parking spot. If you take this route, make sure to have the proper legal documents in place.

6. Offer to baby sit or take care of someone who is elderly.

7. Start your own small business in whatever you are skilled in. You can make extra money by cleaning people’s homes and businesses or by repairing computers or appliances. You could even start a business walking people’s dogs!

8. If you like entertaining people with your musical talents, consider busking to make some extra money. Start playing music or singing on the street, and people that pass by will often give you their spare change. Keep in mind that in many places you need to obtain a license to busk.

9. Bake cookies, pies, and breads and sell them at a local farmer’s market.

10. Participate in a research study as a “guinea pig” and you can earn some fast cash.

April 28, 2009