 Living
Generously
Budgeting in Six Easy Steps
Save
on Groceries
Preparing Your Family Budget
How
to establish a good credit
Marriage
and Money
His
and her money
Financial
Fitness
Managing your
Plastic
Financial
Planning
Are
you a financially confident woman |
Here we are in the Information era, bombarded by
media that connects us globally. Every day we hear of the growing
numbers within our youth who are overcome with anorexia. How much should
we weigh? How much money should we have? By making comparisons with what
we are shown on movie sets, most of us feel we just don't measure up. Turn
off the external stimuli and come home to what is real for you! Express
gratitude for what you already have and then begin to work on its
expansion.
Order is the first law of the universe. The
family unit needs to have established guidelines just as a business has
its policies and procedures. The Head of the family (be it one or two
people) is
responsible for establishing these guidelines after carefully looking at
incomes, lifestyle priorities, and future goals. This leads to the
preparation of both a family budget and a financial plan that each
member can understand. Acceptance and cooperation can be encouraged by
including the children in this process. Savings is one of the items on the
list that varies within each family. It should be stressed that having
some savings is not only prudent but an act of taking responsibility. What
an example to set for your children!
Our society encourages the use of credit cards and
deficit budgets. While this pumps money into the banking system
through high interest charges, it adds nothing to one's peace of mind and
sense of security. It often ends up costing the consumer twice as much for
goods and services. By following a financial plan and saving ahead for
purchases, there is a greater chance of having money available for your
investments. Now you will be making money instead of the bank!
In summary, it is important for each family unit to
develop a financial plan and then to work cooperatively towards the
completion of its goals. This is an ongoing process that requires time
and commitment. Sticking to a budget requires discipline that is sweetened
by the knowledge of delayed gratification. For families who plan together
and work together, the rewards have unlimited potential. I call this the
PWR stock holding for families. This is Powerful.
Frequently asked questions:
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Where do I begin? As with everything else, you
begin right where you are and with what you have today. Take an
inventory of what you have to work with: cash on hand, investments, real
estate, or perhaps something you can give to others. Take a moment to
express gratitude for whatever that may be, as there are always those
who are less fortunate. Write down what you would like to have or to
accomplish. This is your Intention. Keep in mind that what you believe
you can have, you can have! You may be overwhelmed with debts. So the
first priority might be to reduce those. Today, think of one thing you
can do to take the first step towards that goal and then do it! And so
you continue, one day at a time.
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I have made budgets before, but something comes
along and gets me off track. Then I think, "What's the use?
Budgets don't work anyway!" What should I do? Say to yourself:
"There is a divine plan and there is a reason for this, and my choice is
to create the most positive reaction I can." Now, get right back on that
track!
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When I turn on the news, all I hear is, "The
economy is in a recession. The stock market is falling." Surely this
isn't the time to invest? We are currently in the midst of a bear
market. In recent months investors with bonds have done well due to the
steady lowering of interest rates. Historically, as the market bottoms
and begins to recover, it is time to reassess your portfolio balance.
When the signs of recovery begin to emerge, hopefully within the first
six months of 2002, it could set off a stock market rally. When that
happens, be ready to commit some of your cash to investing in high
quality stocks. There is money to be made in all phases of the economic
cycle. It just requires careful analysis and a systematic approach. This
is where an
Investment Advisor can help you. If the myriad of budgeting concerns and
investment options have you confused and frustrated, I would be happy to
meet with you to go over your personal circumstances.
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