Welcome to April, National Financial Literacy Month. It’s the best month of the year to start working on your financial future, focusing on your financial health and making sure that, financially speaking, everything is hunky-dory.

Speaking of hunky-dory, best-selling author, physician and educator Dr. Deepak Chopra is a great source of information if you’re looking for not just financial health but overall health in general. He’s been giving people advice about health, wealth and wellness for years and is one of the most popular speakers in the world concerning those three topics.

Dr. Chopra has a “secret” to making money that,  To be honest, really isn’t much of a secret all; it’s knowing the difference between money and wealth.

“Money is a symbol; wealth is a state of awareness that allows you to tap into your inner creativity in order to fulfill a need that somebody else has. So that’s the first thing,” said the good doctor.

The way Dr. Chopra sees it, what you need to do first is be passionate about any work or business that you get involved in, as well as make sure that someone (hopefully a lot of someones) has a need for it. “Figure out your passion, and then figure out how you can collect and join with people who want what you have to give them,” he said.

In Dr. Chopra’s opinion, investing in the stock market can be extremely counterproductive for many people who are looking to build wealth. “People bet on money in the stock market—they’re getting all unhealthy, stressed out,” he said. “Recognize that the purpose of money is to enjoy life and have good experiences and not use money to make money … to make money … to make money.”

He advises that everyone should focus on their unique talents, look for something in which they have a true passion and hone their entrepreneurial skills to find edge in order to achieve success and wealth.

 

DiggRedditStumbleUponShare

{ 0 comments }

Clever Ways to Save More Money

by Justin Weinger on April 16, 2014

Some of us find saving difficult, particularly if we fail to set ourselves tangible saving goals. If you’re looking to tighten your belt and put some capital aside, make sure you have something in mind that you’re saving specifically for. This will make the process much easier and you can reward yourself with small treats when to reach particular saving milestones. Read on for some smart ways to save cash so you can finally afford that holiday in the sun, coveted new car or home renovation project.

Food and Drink

Instead of buying your lunch during the working day, why not make sandwiches or a salad the night before and take them with you? Bringing your own snacks and lunch to work will save you money in the long term. The same goes for the expensive double caramel latte that you pick up on the way to the office. Cut out this morning coffee expense and bring your own in a travel cup. The mark-up on commercial coffee is huge and you will save almost £20 per week by cutting out a daily Starbucks habit. If you’re serious about saving money, it’s also important to think about the amount of food that becomes wasted in the home. Remember that items bought it bulk can usually be frozen, and it’s best to check the use by dates of groceries before you put them in your shopping basket. Don’t throw money away by overstocking on foodstuffs that will go off before they are consumed.

Energy Bills

Rising energy bills have made saving almost impossible for many households, particularly in the UK. Keep a watchful eye on you energy consumption and turn off appliances like TVs and laptops at the plug rather than leaving them on standby. There’s now an app that you can use to control the thermostat in your house, so don’t worry if you accidentally left the heating on.

Making Extra Cash

The best way to save money is to make more. If you’ve got a good financial head on your shoulders, you may wish to consider currency trading. Foreign exchange or currency trading holds the potential for huge rewards, but also poses a significant amount of risk. It’s an attractive option for the financially minded because with a small amount of online training, anyone can get involved and be successful. For more information on foreign exchange, contact a specialist like Currencies Direct. Some risk is inevitable when it comes to making money, and if you have the skills why not try your hand at currency trading? On a smaller scale, you could also make extra cash by selling unwanted clothing, shoes, DVDs and games. There are plenty of online sites that allow you to trade used goods and retailers that will allow you to exchange your old mobile phones for cash. Many people are unaware of the returns they could receive by simply sorting through their possessions and selling items that are no longer useful or wanted. You can declutter and make money at the same time.

DiggRedditStumbleUponShare

{ 0 comments }

When you consider the global pension crisis and the personal debt mountain that still plagues households in the UK, it is hard to imagine a time when the need to save money was so pressing. Despite this, however, a lack of long-term employment opportunities and dwindling levels of disposable income are making it extremely difficult for citizens to create long-term savings.

While the Great Recession and its impact may have made it more difficult for the current generation of young adults to save, however, there are wider issues that are of far greater concern. Take the lack of financial literacy, for example, which underpins the reckless attitude to spending and threatens to derail the British economies long-term future.

How to Change your Attitude to Money: 3 Practical Steps

For many young adults who have already accrued a certain level of debt, the need to save is even more pressing. With this in mind, what practical steps can you take to change your philosophy and prioritize financial savings? Consider the following: –

  1. Develop a Clear Understanding of your      Financial Circumstances

For individuals who have a low income or are only able to work sporadically, there is a temptation to abandon any attempts to save money without fully appraising the situation. This may be a flawed outlook, however, as without a comprehensive understanding of your own financial circumstances it is impossible to make an informed decision. To gain this comprehension, it is wise to create an up to date budget that includes both monthly income and outgoings, before using this data to calculate an estimated amount of disposable income. The same thought process should be applied when considering whether or not to take out a secured or unsecured personal loan, as these short-term financial products are only purposeful when used responsibly and according to specific criteria.

  1. Become a Stickler for Detail

When it comes to making financial decisions, even the smallest details can have a considerable impact. It is therefore your duty to adopt a more considered approach to your personal finances, and ensure that each decision is taken with a broad scope of information in mind. In terms of savings, your first step should be to evaluate the best national banks, and compare the types of account and individual interest rates that they offer. There is a wide range of financial products available on the market, each of which carries a variable minimum deposit and different rules concerning withdrawals. While this choice can be overwhelming, it also enables you to choose an account option that perfectly suits your needs.

  1. Adopt a Long Term Savings Outlook

Technological advancement has ensured that everyday tasks and activities can be performed quicker than ever, and while this has been largely beneficial it has also created an element of impatience among young adults. Such a short term outlook is not suited to cultivating savings, however, as it is necessary for you to consider your future while establishing a genuine motivation to retain as much of your hard earned capital as possible. Once you begin to accrue savings and build towards a set goal, you can begin to visualize the rewards and make viable future plans. As you achieve success and see the fruits of your labour, then the philosophy of saving money is far more likely to become engrained in your psyche.

DiggRedditStumbleUponShare

{ 0 comments }

Tips for Buying in Bulk

by Justin Weinger on March 30, 2014

No matter who you are, a trip to the grocery store almost always ends the same way; you end up spending way too much. The problem is even worse if you’re foolish enough to shop when you’re hungry, but there is one excellent way to avoid this common problem, and that’s shopping in bulk.

It’s not as easy as it sounds but, if done correctly, shopping in bulk will mean fewer trips to the grocery store and shopping that’s much more cost-effective. The Tips below were put together to help make your bulk shopping even better. Enjoy.

Tip 1: Just because it’s bulk doesn’t mean it’s a good buy. If you go into Costco’s, BJ’s or Sam’s Club assuming that everything you find is going to be an excellent deal, you’re just fooling yourself. Yes, many items you’ll find will be excellently priced, especially if you buy a large number of them, but even warehouse store prices aren’t always as good as the prices at your local grocery store. With today’s technology you can easily use your smartphone and a price-check app to make sure that, no matter where you shop, you’re getting the best deal.

That being said, many prices in bulk warehouse stores are excellent and, even though they require membership, the cost can be worth it if you shop frequently and find items that you regularly use at a great price. In many cases you’ll be able to find every day prices at bulk stores that regular grocery stores only give you when items are “on sale”.

Tip 2: Make sure you have the extra space. When you’re buying in bulk it pays to prepare ahead of time and be as organized as possible. There’s nothing worse than having more food than your cupboards or refrigerator can handle, especially fresh foods that could possibly spoil. If it’s affordable, having an extra freezer in your garage, back room or basement can help you to really take advantage of excellent deals on items that will freeze well. Having a large amount of clean, dry cupboard space is also a big plus.

Tip 3: Remember that it’s still not a bargain if you don’t need it or won’t eat it (on time). As with anything that you use your hard earned money to purchase, if you really don’t need an item, including food, you’re simply wasting money if you buy it only because it’s on sale. For example, if you already have an excellent set of pots and pans there’s really no reason to buy a new set even if the sale price is amazing. If you don’t have the storage space in your freezer for that super deal on salmon, buying 10 pounds of it simply doesn’t make sense. Furthermore, if you really don’t like black beans (for example) but you buy 10 cases because they’re dirt-cheap, you’re really just kidding yourself and will end up giving them away or tossing them out anyway.

Buying in bulk is certainly an excellent way to save money on your weekly grocery bills if you plan your shopping trips correctly and stick to the basic rules of grocery shopping. Even better, if you have a big family it can help you to put food on the table for significantly less money.

DiggRedditStumbleUponShare

{ 1 comment }