How can Will Power affect your Finances?

how can will power affect your finances

Can having weak or strong will power affect your finances? I believe it can and if you struggle to maintain the will power to say no, then you can ruin yourself. Just like the person struggling with over-eating, they know they must eat better to stay healthy but they have low will power to change. Finances are the same because people with weak will power for the most part cannot say no to adding new debt, living above means, splurging on wants. Yes I might be striking a nerve with some readers because they are full of excuses behind the ability to modify behaviors. But I am doing it, to show you how money can be broken down to simple choices like facing your inner willpower.

I speak with purpose because I see it everyday many people not facing their ability to say no or adjust lifestyle to current life situations. Somebody wants to lose 40 pounds but then they continue to eat the daily bagel with cream cheese. They want results but then do not hold their actions accountable. (It boggles my mind the lack of focus for will power) For example somebody who wants to be debt free, but continues to live life adding new debt. Having willpower is so transparent to me, but not so easily understood by others. I am always eager to share my thoughts with all of you, and I want you to have strong will power. How can you begin to have better will power?

Continue reading How can Will Power affect your Finances?

Why Percentages Matter

 

Why percentages matter
If you Can’t see your Budget, how do you know its Effective?

Do you know that in order to handle money correctly, we all need to know the exact percentages we can spend on every category? Once you understand why percentages matter and that it’s all about handling money within percentages, then money management will be a breeze. This is a simple finance strategy many never implement, but when they do, people will soon realize how much extra cash flow can be had. I will provide below a standard guideline for specific categories and I hope your budget is in line with what I am about to share below. Granted nothing is set in stone around here, but this will get you to understand if you need to fix a money category, that is out of whack.

If you can stay within the percentages for expense categories, this will eventually free up money for you to go over and above in the savings / investing percentage categories. By going over in the savings / investing categories you will be bounds ahead in retirement nest egg funds in no time. People will most likely shoot down an idea like strategizing income based off percentages, before even trying it out. How can one negate a financial strategy before implementing it, all because it is something completely new and different.

Continue reading Why Percentages Matter

The Reason People Subconsciously Do Not Save Money

 

The reason people subconciously do not save money
Once we’re gone we cant enjoy anything, but that shouldn’t hinder your thought process about savings today.

Why do most people find it difficult to save a dollar? I think I found the answer and it will either speak a sense of truth in your life or you will dislike what I am about to say. This idea was created by speaking to certain people who constantly say you can’t take it with you to the grave. Do they really justify not saving because they think they will die soon? Also by watching the show the walking dead, where walkers roam aimlessly around the planet. The reason people subconsciously do not save money is because a part of all of us has that little feeling we might not be around to enjoy it. I can’t believe I actually said that and I will probably get some flak for it. We all have a live in the present, as happy as can be mindset because we might not be around to enjoy it. 

The second reason some people do not save money, and I will save this topic for another post, is that the government will find a way to take our retirement savings. If the government takes our retirement savings, believe me we all will have greater issues than just money at that point. Can we say Anarchy at that point in time!!! We great citizens of the USA make on average about $100-150 dollars a day and we cannot find it in us to save $5 dollars per day. Why is that so? Do you ever question in full reality why Americans have a government reported savings rate of about 5% or less. If you do question the reason people subconsciously do not save money could it be because of thoughts based about death in your opinion? (Morbid yes- truthful Heck yes)

Continue reading The Reason People Subconsciously Do Not Save Money

Personal Finance Sayings 3

personal finance sayings 3

Wow this is the last personal finance sayings post. It has been a bumpy ride with all the idioms based around money. It is always fun to quote some classic financial, back-handed, straight to your gut money sayings. I hope you read part 1 and part 2, but if you missed them go back and enjoy the awesomeness.  Keep on trucking my financial friends and if you ever need anything don’t call me, find me on Twitter.

 
Side Hustles – really cool part-time jobs mostly tax-free paid pass times.

Smart Money – money handled by financial smart individuals

Stacking Method –paying the higher interest rate debt first, then move on to the next highest interest after you pay off the 1st 

Stacking Benjamin’s – building your money pile as quickly as possible

Continue reading Personal Finance Sayings 3

Personal Finance Sayings 2

personal finance sayings 2

 

Its time for the best personal finance sayings 2. Do you want to know a secret I came up with all of these definitions merely from my experience with finances. Now does that make me a financial guru? Sure if you want to throw a label my way go right ahead I don’t mind. I hope you enjoyed part 1 of the personal finance sayings. I am on vacation this week and I wanted to leave you with something not overly complicated like 11th grade algebra. So lets all laugh and learn together about these fabulous personal finance sayings 2 listed below.

Indexing – Buying the whole market with a set it and forget it investing style

Invest in yourself – on occasion forgo investing in the stock market, and use money to take a class to improve skills

The Dave Ramsey Plan – financially living on the 7 baby steps plan, banning all debt and cutting up credit cards while driving a beater

It’s time to pay the piper – you can only put off paying off debt for so long, eventually you have to pay it back.

It’s Not what you make its what you keep – simple and straight to the truth phrase for those folks who like to spend every last penny of their paychecks

Continue reading Personal Finance Sayings 2

Personal Finance Sayings

 

Personal Finance Sayings
I wonder What Personal Finance Sayings Buffett is thinking of Next.

This is the 1st part of a collection of widely used personal finance sayings, words, phrases, or quotes and my comedic explanation or definition behind the meaning of all of them listed below. I decided to break up the post because together it was going to be over a thousand words. If you have any feedback or childhood stories about the phrases below please leave a comment so we can all laugh. Its Friday so lets have fun and keep the finance talk very light.

A bird in the hand is worth two in the bush – it means be happy with what you have and avoid risk / greed by trying to double what you already have

Acting like the Joneses – Spending like there’s no tomorrow or living above means or trying to keep up with others spending levels

A Penny Saved is a penny earned – basically to save, but with hints of watch your spending because spending is the root of all evil

Continue reading Personal Finance Sayings

Blogging for 3 Years

 

Blogging for 3 years
Blogging for 3 years

Ok now this is a serious milestone post as it is my 3 year blogoversary and I have published 300 posts as of today. I still cannot believe I have been blogging for 3 years now, and I prefer to not make a big deal out of anniversaries, but I couldn’t resist as the number 3 is my favorite number. I am happy about all the work I’ve put into my blog and it really has made me a better person. I enjoy sharing all the facts and knowledge I have learned regarding personal finance with all of the readers. I must say the accountability factor of having a blog is a hidden secret and one of the best moves I made to improve on my life.

Holy Moly I’ve Been Blogging for 3 Years

Continue reading Blogging for 3 Years

When a Financial Emergency Strikes

 

When a Financial Emergency Strikes
Time to Break the Piggy Bank due to a Financial Emergency

Do you know what to do if a financial emergency strikes all of a sudden at your doorstep? Well during this time people might feel the need to panic and begin to do irrational things with their money. For example doing cash advances with a 20% or greater interest rate. Emergencies usually are based on various levels to different people, and it is on you to assess things before running to one of the worst financial lending institutions like payday loans sponsored by a famous 90’s talk show celebrity. This article is going to be based on a fictional emergency level 7, which results in an emergency that is not life threatening. (Level 10 would be the highest level) Ok now let’s discuss the steps anyone can take to get out of the emergency and not to hurt ones wallet too drastically.

Continue reading When a Financial Emergency Strikes