THAT INFAMOUS 'B' WORD: BUDGET

I did a blog a few months ago entitled: A BUDGET? YOU HAVE GOT TO BE KIDDING! about budgeting and the importance of it. Today, I will go into this subject even more because a lot of people make budgeting so hard. Budgeting requires sacrifice yet not the kind of sacrifices which cause you to starve yourself, dress in rags or walk 100 miles to work (an extreme, but you get the point). Budgeting helps you to not only see where your money is going but how to see whether this expense is necessary and needs to be deleted from the budget. 

According to Practical Money Skills.com, building an annual or monthly budget comprises of the following:

• Fixed expenses are expenses that stay the same from month to month, such as rent payments.
• Flexible expenses are expenses that change from month to month, such as how much you spend on utilities.
• Total expenses are the combined amount of your fixed and flexible expenses.
• Total monthly income is the income from your job or other resources including investment dividends, pensions, Social Security benefits, rental income and more.
• Disposable income is the money you have left over after you subtract your income taxes from your income

They emphasize to create your monthly budget using this basic Budget Worksheet. If you find you are not able to stick to your budget, it may mean you are spending beyond your means or that your budget is not flexible enough. Take the time to review and readjust your budget monthly until you find a plan that works for you.

You truly have to be serious and disciplined when you budget because you will not only be in control of your money and feel empowered. Budgeting does not have to be a serious subject, just a matter of focus, discipline and being focused on having a great money future. Until next time...

Stay Frugal and Proud,

Dot

More Articles and Sources:

PRACTICAL MONEY SKILLS

WHAT IS BUDGETING?

START BUDGETING

MONEY IS GOOD

Courtesy of Lenny Credit

As you work your way to another level, lets remember something while we are bettering our money life: MONEY IS GOOD! Place note cards around your house with this statement, affirm it all day and when others say contrary, remind yourself that MONEY IS GOOD. This part of your money work is very important because as you continue to believe that money is good, you will attract experiences that will confirm your belief. 

I know that you have heard directly or indirectly that money is the root of all evil. This is one of the most misquoted words in the bible. It is the love of money above your God (Spirit, etc.) that is considered evil. No wonder a lot of people would do whatever it takes to get rid of the money; yet on the other hand once that money is gone, moaning and groaning about not having any starts. 

Each week, I want to help you to heal the inner that keeps money at bay from you by posting these messages. No matter how much money you receive, if your inner is not matching your outer, the money becomes elusive. So it is very important to take each post I write and be very serious with it because we have to make peace with our past money situations. 

You must surround yourself with those who can help you to become a better money steward. Those you have been filling your head with negativity involving money need to be let go in peace. These people can keep you from attracting the abundance and prosperity. Forgive yourself for your money beliefs and please do not beat yourself up for having them. If you knew better of course you will do better. 

Question each and every belief around money and turn them around with an answer. Those answers will help you to take control of changing your thinking, then change your life. Congratulate yourself on every positive action you take involving money such as building your savings account, sacrificing those weekend hangouts for putting your money away for a business venture. You get the jest. Get professional help if needed and this is not a negative thing because you want a better life. 

Remember, MONEY IS GOOD and until next time....

Be Frugal and Proud,

Dot

More Articles and Sources

*Financial Independence: Why Money Is Good

*Money is Good

*I Love Money, Money Is Good - Hypnotherapy - YouTube

EMOTIONS AND MONEY

Courtesy of dollabuzz

When it comes to emotions and money, self-control and discipline is much needed all the time. You see, you can sometimes think that you need that particular item and later learn that you only wanted it. in other instances, you may feel that you are entitled to that designer handbag which is not in your budget just because you worked hard. That new car you have been lusting after is in your focus despite the fact that the car you currently drive is paid for and running great. Your friends are taking vacays to the islands and you want to go badly so you skip one bill and put it off until next month (knowing that interest charges will double on that bill). The paralyzing fear of not having enough to pay next month's bills...

The above scenarios are ways in which our emotions can rule over how much money you spend, save or don't save as well as your fears and expectations of how money rules your life. Below shows the fears of Americans surrounding emotions and money:

Courtesy of Eventbrite

Lets find ways in dealing with emotions in order to deal with money effectively. The following suggestions can help:

1.) Know where you stand in your money situation regardless of the fears or apprehensions. This way, you can  begin to take action on it.

2.) Do not compare your situation with others. They are not you and you must take responsibility for your actions.

3.) Create a budget and stick to it. You will see where your money is going without guessing. Set up a payment plan and make sacrifices in order to meet your debt free goals.

4.) Do not be embarrassed by your situation; you created it and you can fix it. Seek counseling in order to help you get on the right track with your emotions.

5.) Distinguish a need from a want. Really analyze the difference between the two. If the particular thing you want does not fit in the budget, let it go. Concentrate on your needs first and foremost, like shelter, food and clothing.

Put first things first when dealing with money. Yes, we need it to live but it does not have to be a depressing subject. Tell me what you think about emotions and money in the comments and be sure to subscribe in the right hand column. Until next time....

Be Frugal and Proud,

Dot


More Articles and Sources

MONEY AND EMOTIONS

TAKE THE EMOTION OUT OF MONEY

MONEY IS NOT ABOUT FINANCES; IT'S ABOUT EMOTIONS

YOUR MINDSET AND MONEY

Courtesy of cultofmoney

There are lots of people wanting to change their financial picture for the better. They find different opportunities online and attempt them yet find that some of those opportunities are not legitimate. Some people save money to have more money and find themselves having to spend that money and more. Despite actions to accumulate money, people fall short...why? It is the mindset!

We must do first things first which means to condition your mind to have money and be able to keep it. What does this mean? It means that you must convince your mind that you are worthy of having money and being wise to keep it. How is this done you ask? You must go to the origin of the mindset. 

That origin means conversations you may have heard as a child such as "money being evil", "rich people are greedy", "only a certain race of people have money" and so forth. Lots of conversations could have religious overtones with them as well such as "rather being poor than greedy", "you can't take it with you" and so on. 

As we become adults, we continue to believe those conversations and take them deep into our subconscious mind which has no barriers and does not say "no". It takes what you say and dwell on until it manifests into your life. You continue to stick with those beliefs because of the manifestations yet do not question why things keep happening. Until you have become sick and tired of being sick and tired, you do not take action and chalk it up to being "what it is". 

Write down some negative beliefs you grew up with. Exam each one, then change it to a positive. It is up to you to change your mindset by questioning those beliefs. Those beliefs you grew up with do not have to hold you hostage and your life can change for the better!

                        

Courtesy of PowerThoughtsMeditationClub

Affirmations are another way of changing your mindset. Affirmations are phrases that you use to manifest the life you desire. You use feeling behind each one. Even if you do not believe them at first; the subconscious will and your life will shift. You have to stay consistent with them even as your mindset changes. It is like a lifelong garden you have to tend to in order to manifest the flowers. 

So you see, it is very important to work on the mind first and foremost as you take inspired actions to save, invest, or open your own business. 

Let me know in the comments what you think and please subscribe in the upper right hand corner. Until next time remain...

Frugal and Proud

Dot

More Articles and Resources

25 Affirmations to Attract Wealth and Abundance

The Power of the Wealthy Mindset

The Dynamic Laws Of Prosperity (Full Seminar) by Catherine Ponder

WATCH YOUR WORDS ABOUT MONEY

It is very wise to watch the conversations you have with yourself and with others; especially when it comes to money. You see of course that words have power and when the emotion is very strong behind the words, it comes back to the user in a very positive or negative way depending on the way the words are spoken. 

Lets say that you and a friend are talking about going out to lunch yet it is not on your budget to spend at that time. It is okay to let this person know that you will have to do it at another time due to budgeting. Now lets say that you tell this friend that you are broke, that you have no money or you are too poor to do anything. Of course you will sigh about it and get all emotional. What happens? Any attempts to attract monies to you will be a problem for you. Why? Because you not only spoke negative about money but put a lot of feeling behind the words. 

Another scenario would be saying in conversation based on your beliefs about money. It would go something like this:

"There is never enough to go around."

"Rich people make me sick."

"There are shortages everywhere."

These beliefs may be true in your world, but look at others who were in dire straits and when they changed their beliefs, their life changed. 

This is why it its very important to look at money as a friend, not a foe. Live in gratitude with the money you have and more will manifest. Avoid negative conversations with others about money and know that the universe is abundant. You must change your beliefs and speak positive words about money such as:

"Wealth constantly flows into my life."

"Money comes easily to me."

"I am a money magnet."

The words may not feel right to you at first but put as much feeling into these words a you would when you spoke negatively. This practice is essential in building wealth as well as living frugally. 

Please comment and share below. As always live...

Frugal and Proud

Dot

Articles

Words Have Power

The Power of Spoken Words

The Power of the Spoken Word (you tube)

PUT SOME RESPECT ON THAT MONEY!

I am sure you have heard the myths about money that being "the root of all evil", "people with money are evil and greedy" and so forth. What folks fail to realize is that those beliefs and more negative beliefs like these can keep folks broke. Mind you, do not be hard on yourself for believing these myths because you may have heard them in childhood to teen years and then carrying them in adulthood. These myths most likely came from parents, the church, and other 'well-meaning" folks. They most likely did not mean any harm, it was what they were raised with and carried through their lives. 

Now that you are an adult and handling money, it is time now to truly examine all beliefs about money. Why? Because if your financial situation was anything like mine: broke, broke and beyond broke, you will! It is so important because if you keep doing the same things over and over, things will not change (this statement is redundant yet bares reminding folks). We can not ignore the debt and lack of money skills in order to get ahead. Those credit cards, rent or mortgage won't pay for themselves so it is time to get a new mindset and keep it changed.

The bottom line to all of this is that we must RESPECT money. This is about awareness and insight into your situation. Oh come on Dot, what does respect have to do with it? A lot my loves, a lot. You see, respecting your money is like the following:

1.) Creating a budget and sticking to it. This helps to see where all of your money is going, not some of it. You do not budget when you feel like it but when you get paid from all channels of income...OK?

2.) You do not curse your bills as you write the checks because YOU created those bills and the companies were gracious to give you time to pay them after utilizing their services.

3.) Keeping your money neatly in your wallets with all ends smoothed out, NOT shoved into your wallets. You notice the men and their money clips? You see how neatly they keep their money in them? Boss!

5.) Not looking at that penny or other coins on the ground with disgust but picking it up, putting it away and washing it later when you wash your hands. Yes I do this, so those who find this asinine, SUE ME! I believe that the Universe is blessing us in many unforeseen ways with money (like a pennies from heaven thing).

6.) Blessing each dollar you receive and being grateful every time you receive it because it could be worse and not have any! Curse not if it isn't enough money in your life, find ways to make more because we have talents (no, not that one) where we can make money. My deceased father would say he was broke all the time and guess what? He was broke all the time. Words have power people. Do not even talk with others about your financial situation, do something about it..period!

7.) This tip I received from a millionaire was to give (yes, lots of millionaires are in plain clothes not just designer). I see why he is so blessed and he keeps giving to this day.

There you have it, ways to respect money because it will respect you in the long run. If you do not believe me, try it and please like, click, comment and share. Until next time....

Be Frugal and Proud!

Dot

A BUDGET? YOU HAVE GOT TO BE KIDDING!

Lots of us know people who make more money than we do yet when it comes to taking care of the necessities of life, they seem to run short. We see celebrities and other personalities in the media who have made lots of money, then in a few years file for bankruptcy while crying broke. This baffles us and we wonder how in the hell did they get themselves in that hole. What those two scenarios have in common is this: they did not have a money plan or budget as it is generally called. 

I can hear those moans and groans about the 'b' word but it is very important to have one. By having a detailed budget whether done weekly or monthly, you can see where every dime of your money is going. This should be very empowering because you know what is spent on what and the priorities you have when spending.

A budget does not restrict you to not spend but helps keep your bills and other expenses on track. You can not continue to spend and spend with reckless abandon then expect to know how much you make. Before you know it, all of your money is gone and you scratch your head wondering where it went. 

I personally did not grow up with this money mindset and had to learn it on my own, the hard way. No bankruptcies just downright broke. Once I changed my mindset I set out to change my life in the money area.

There are lots of books about budgeting; google budgeting to get started. You won't regret your decision and as always...

Be Frugal and Proud,

Dot

HOW TO FORGIVE YOURSELF FOR YOUR MONEY MISTAKES

Courtesy of Pinterest

You blew hundreds of dollars on those clothes that you did not need. Your closet was already full to the brim. Goodwill or local consignments would love to be friends with you yet you hold on to those 'needed items' just in case. 

That vacay you so desperately wanted to go on despite the fact you did not have the funds is charged on your credit card. This happened after you paid it off and wanted to cut it in half. You decided to hold on to it...maybe just once more and then cut it up.

Ok, your neighbor has better tools than you and you want what you want. You blow a bankroll on tools that will sit in the shed for how long? Months, years maybe.

After your war on spending and not sticking to a budget, the casualties result in debts to the wazoo! You ask yourself how in the glorified hell did you do this. Once the initial shock wears off, the reality sinks in: you are in debt and need help, period...that part.

You want to cry, scream, cuss yet once those emotions have run their course, it is time to sit down and get serious. Those debts won't go away by themselves so it is best to form a plan, write it down, do research on how to get out of debt (Dave Ramsey can help). 

The dust has settled and you are taking action on your plan. One of the most important things to do that folks ignore a lot of the time is forgiving themselves for the money mistakes! It is very important to forgive because what's done is done and now you are rectifying the situation by changing your behaviors. I believe this is one of the keys to money success along with budgeting, giving, and saving (these topics are for future posts😃).

Please comment below and let me know what you think.
Remember to be frugal and proud!

Dot😇

FRUGAL LIVING BABY STEPS

Courtesy of premeditatedleftovers.com

As you begin your frugal journey, it may seem confusing to some of you how to begin. I will share some tips on how to use baby steps in building your frugal life:

1.) Acknowledge that your former life of debt living did not work for you and you want another life. By doing this, you are not beating yourself up but realizing that you want to change.

2.) Budget! It is so important to know where your dollars go. Never mind if a budget seems binding but did you know where your money went before? Get started!

3.) Gather all of your debt, and I mean ALL of it; from the smallest to the largest. Put the information in a big spiral notebook (the ones with dividers in them for envelopes and receipts) by columns: Date-Transaction-Account Number-Balance-Notes. Start working on paying your debts.

4.)  Get a big water jug (the ones that you see at water coolers at businesses; you can also get a small one at the local store: Walmart, Kroger, etc). Start saving your change in it (whether it is pennies or silver) just do it! Every time change is accumulated, put it in the jug and watch it grow!

5.) Shopping for food does not have to be hard. Make a shopping list and stick to it. You can even earn cash back on brands you love without sacrificing taste.  Checkout 51 can help! Clip coupons from your favorite stores and use them! Plan your meals for each week so it will keep your spending on track.

6.) PURGE! This means clothes, household items and those things you no longer use or want. Take those things and have a yard sale or sell on Craigslist or Ebay. Use the proceeds towards your debt and saving. 

7.) Make a list of 'my whys' for wanting financial freedom. It could be to have generational wealthy or to travel without limits. The list is for you and must resonate within you. Post it where you can see it daily.

8.) Affirmations are a good way to be on track. They must be present tense and spoken three times a day. Here are some I use:

"I am now financially free. I now live in abundance."

"I am open to receive wealth in many ways."

"My income is constantly increasing. I prosper wherever I turn.'

9.) Forgive yourself for the debts and unwise spending, it is the past and it is up to you to heal it. Use these steps daily, not sometimes and know that you will succeed. Never mind what your 'friends' say, are they out of debt? Only speak with those who are winning because you are done with losing.

For more information, go to Dave Ramsey's 7 Baby Steps.

Be frugal and proud!

Dot

BEING RICH DOES NOT ALWAYS MEAN YOU ARE WEALTHY

Being Rich Does Not Always Mean You Are Wealthy

By: Eugene Chan

To be truly wealthy is to have money that lasts forever. This may be a blunt statement, but suddenly coming across a large sum of money does not necessarily mean you have become a wealthy person.

To be wealthy is a state of mind. A person with a wealthy mindset may not necessarily be financially rich just yet but will be soon enough. On the other hand, a rich person without a wealthy mindset will squander the money very quickly.

This could not be more true than those who win the lottery. After a few years, these lottery winners no longer possess the millions they came across so suddenly. An amount of money that should have lasted for at least a generation has been fleeted away.

Case in point is UK lottery winner Michael Carroll who won �10 million in 2002 at the age of 19. It is reported that he had lost all his winnings 18 months later on things such as holiday homes, luxury cars, drugs, parties, jewellery and famously, a rural mansion used none other than as a dodgem car racetrack for his new friends.

What is even sadder are cases of other lottery winners that end up with greater financial debt after their windfalls dry up than they had to begin. Some have even declared bankruptcy to be back where they had started - with nothing.

From this, it is fair to say that being rich does not necessarily mean you are wealthy. A truly wealthy person would still possess the majority of the millions of dollars (if not more) because a wealthy person understands the fundamentals of how to manage their money.

It can even be said that a wealthy person has a good relationship with money. Money sticks with them rather than repel away from them. It is through this understanding of how to manage money that dictates how long you will remain rich, or how soon you will become rich.

A wealthy person knows to save their money. With the money that is saved, they firstly spend on things that earn them an income such as quality businesses, real estate and shares. In other words, the money a wealthy person retains is used to further create more money. The money they earn from their investments is then used to fund a rich lifestyle.

On the contrary, for a (temporarily) rich person that does not have a wealthy mindset, they would have chosen to firstly spend on material things and eventually have no money left.

However, nobody is born with a wealthy mindset and it certainly cannot be won. Importantly, a wealthy mindset is learnt. If Michael Carroll had a wealthy mindset when he won the lottery, he would likely still be living very nicely with most of his winnings intact.

If a wealthy individual were to lose all their money today, it is likely that within a number of years, they would be back to a relatively comfortable financial position. Individuals such as Donald Trump, Martha Stewart and Sir Richard Branson have faced financial setbacks in their lives but were able to rebuild their financial positions because each has a wealthy mindset. These individuals firstly focussed on redeveloping their businesses rather than wasting their remaining fortunes on frivolous items and lifestyle decisions. Today, they enjoy life's luxuries because of their wealthy mindset.

Michael Carroll clearly demonstrates that being rich does not always mean you are wealthy. On the other hand, having a wealthy mindset certainly gives you a greater chance at being rich because you understand how to manage and appreciate money. Each of us can learn to be wealthy. By developing this wealthy mindset, you will ultimately attract more money to you than repel it. Only then can you be rich and truly wealthy.

Author Bio
Eugene Chan is the founder of http://save-money-make-money.blogspot.com which provides practical ideas to save money everyday.

Article Source: http://www.ArticleGeek.com - Free Website Content