Budgeting

Financial problems are the biggest cause of stress in America. It creates anxiety and has been known to lead to mental breakdowns.

The uncertainty surrounding the country’s economic state, and whether they will still have a job to go to does not help some people’s situation. There are many that are desperate to get out of debt, but first of all, they need to learn to cope with the stress, or it will be counterproductive and all their efforts could be in vain.

Identify Which Debt Causes The Most Stress

Start by making a list of everything you owe, including who it is to and how much. Then mark them in the order of which ones cause you the most stress, as that is the first one you should tackle. If, for instance, it is a bank loan or a credit card, try to pay just a few dollars extra each month. You may be surprised how quickly the balance comes down when you do this.

When you have got rid of that debt, look at the next most stressful, and the money you were paying off the first one add to the payments of the second. The debts will start to reduce quicker than you might think, and each time you cross one off that original list you will have a great feeling of accomplishment.

With credit cards, it can also help if you take advantage of zero interest offers, as at least then the payment you make is reducing the debt instead of only paying off the interest each month. Checking out card guru is possibly the easiest way to find the best deals for credit cards. Just makes sure you use all of the right information to make an informed decision.

Be Realistic And Positive

You need to be realistic about how long it will take you to clear your debts, and think of it in a positive way. Don’t tell yourself that you will never be debt-free. If it is going to take five years, then think how happy you will be when the five years is up. Also remind yourself that as each of those five years pass, the amount you will owe will be reduced, and that has to be a plus.

Negative thinking will not help your situation at all, and the debts will make you even more stressed unless you are positive about your plan to clear them.

Making small steps towards your debt-free life is the secret to Strategic Financial Solutions. If you do not expect your dent to reduce in huge amounts each month, you will not be so disappointed when they do take time to pay off. But never forget what your aim is, and be proud of yourself for each small achievement you make.

Make The Most Of Your Income

Believing that your income is not enough to pay your way is the first step toward financial ruin. Focus on using your income wisely. Only spend what you really have to and try to reduce your living expenses. Simple things such as buying supermarkets own brands and having less meat in your diet can reduce your shopping bill significantly, and that spare money could go toward clearing your debts.

Friends, do you have steps you take to getting over financial stress at home? Leave your tips in the comments below.

Bargain hunting is definitely something that you’re going to have to try and master if you want to save a little bit of money. Well, it might not even be a little bit of money if you get really good at it. Why do we think everyone should start bargain hunting? Because life only seems to be getting more expensive, and the more people that come into your life, the more you seem to have to start paying out for.

Considering you most likely won’t be able to bring more money in, it becomes all about controlling the money that’s going out, and we think it’s so easy to do when you get into the swing of things. It isn’t any more time consuming than normal shopping would be, you just have to change your mindset, and change what you look for when you do go shopping.

So, here’s how we think you can really become a master of bargain hunting, and why you should definitely make it top of your list of things to do!

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The Basics Of Bargain Hunting

So, if you’ve never really been one to hunt for a bargain before, then you need to get to grips with the basics of bargain hunting, and how you’re going to be able to do it from store to store. You’re not necessarily looking for a sale, although that would always be handy, you should be comparing the prices of things you usually buy between the different stores you could get it from. Because at the minute, you could be shopping at a store for your groceries for example, without realizing that you’re paying a certain percentage more than if you were to go for a discount store for example.

The best way to do your grocery shop in our opinion is to do it online. It’s so much easier to glance and which store is cheapest in general, and find out how you can make your savings. But generally, if you are going to bargain hunt, you need to think about looking for a sale wherever you can. Even if it means buying store brand items, you’re still going to save a hell of a lot compared to if you were to buy a normal branded item!

Saving On The Big Spends

You’re probably making big spends more often than not. Birthdays, Christmas, Christening… the list could go on. To save on the big spends, you’re going to have to look through discount sites to see price comparisons. People never really tend to go through discount sites, perhaps because they don’t trust the legitimacy of them. But as long as you check the Trustpilot rating and other reviews, they will be fine to shop from, and boy can you save a fortune!

Seeing How Much You Save!

If you really want to be able to tell the difference, you should calculate how much you spend now, and how much you spend on big purchases, and compare it what you are going to spend after reading this article. You could put the saved money aside for a rainy day, or put it towards a holiday fund!

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For a lot of people, living frugally in the here and now and saving up a substantial amount, as a result, doesn’t seem especially “sexy.”

Slogans such as YOLO (the infamous “You Only Live Once”) have been pretty popular in recent times, and there’s a certain Instagram celeb-obsessed idea going around that whatever money you have, you more or less need to flaunt it in the here and now in order to have fun, live an exciting life, and not be bored.

And yet, many people find that once they commit to living a somewhat more frugal life, and saving a higher proportion of their income, they enjoy better peace of mind, greater security in life, greater possibilities for the future, and more satisfaction than they would if they had lived more extravagantly in the day-to-day.

So, here are some reasons why it’s worth living more frugally now, in order to save for the future.

Wealth and financial freedom are a matter of money management, rather than income

If you ask the average person what “wealth” means, it’s likely that will you get a lot of replies along the lines of “wealth means making lots of money.” Intuitively, this makes sense. Everyone has probably dreamt of winning the lottery at least at some point in their life, and no one is against the idea of making more money.

But the simple and counterintuitive reality is that “wealth” is a matter of good financial management, rather than having a larger income.

If in doubt, just consider the many celebrities you can think of off the top of your head, who became incredibly wealthy through their careers, only to then blow it all on extravagant living, and end up bankrupt – or close to it.

What’s more, some research indicates that the vast majority of lottery winners end up flat broke within a few years of their big win.

People are drawn to the idea of wealth, because it offers security, increases prospects, and all that other good stuff. But in order to enjoy these benefits, you need to actually be able to amass and hold onto your money, rather than frittering it away carelessly on daily luxuries.

To that end, adopting a more frugal approach to life in the here and now, and saving up more of your income, can get you on the track early. And, if you do win the lottery some day, you are more likely to be able to use that money to transform your life over the long term, not just as a means of partying hard for a few years.

Saving up now allows you to increase your life security and satisfaction through wise investments down the line

Living a more frugal life in order to save, implies that you are saving for a particular purpose. Ideally, a large part of that purpose will be so that you can enjoy greater security and satisfaction down the line, as a result of wise investments.

If, for example, you review a good mortgage payment calculator, save accordingly, and get your own house, you will be much more autonomous, self-sufficient, and secure in your home, than you would be if you had kept renting indefinitely.

It may be silly to deny yourself any pleasures, or luxurious expenses throughout your life, for the sake of potentially being rich by the time you’re 70. But, even on a much shorter time horizon, saving up for worthy goals can significantly improve your life along with various dimensions.

Living more frugally encourages you to appreciate the simple pleasures of life more

it’s not exactly uncommon for people to fall into a cycle of compulsive spending, in order to try and keep their lives interesting, fun, and exciting.

But if you’re always chasing after the next hot appliance, outfit, or gadget, are you not also at risk of taking the things you already do have for granted?

Living a more frugal life encourages you to appreciate the simple pleasures of life more. It encourages a sense of gratitude and appreciation for the things you already own, and it pushes you to seek fulfilment through things such as your professional and personal accomplishments, your relationships with friends and loved ones, and so on.

Of course, that’s not to say that you have to live like a hermit monk and never buy anything new at all. But a lot of people will testify that it’s better to be more mindful about spending, so as to better appreciate what’s right in front of you.

Please note, this post is sponsored by Diamond Bloggers. All opinions expressed are my own. Thank you.

There are very few people who are opposed to the idea of charity. As humans, we are hard-wired to help others and confront needs when we see them. Unfortunately, there are also very few people who are content with the level of generosity in their lives.

As most people I know wish they were able to give more. And while there are a number of reasons, often the best solution may be the simplest. So if you are looking for better ways to be more charitable in 2019 here are five ways to get started,

5 Simple Ways to Become a More Generous Person

Consider the benefits of generosity. Generous people report being happier, healthier, and more satisfied with life than those who don’t give regularly. And one of the main reasons for this is that generosity produces an inner sense that we are capable of actively addressing the needs of those around us. Leading to a sense of personal responsibility in making our communities safer, healthier and more unified. While generosity is typically seen as non-self-serving, the personal benefits that can be derived from a life geared toward stewardship can benefit each of us in immeasurable ways. And is indeed one of the most important steps that we can take in getting started leading a more generous life.

Embrace gratitude. One way to ingratiate charity into your year is to adopt a personal attitude of gratitude at home. Which can start as simply as creating a list of what you are most appreciative of in your life which may show you ways that you can afford to give back to others in the reflection of your personal blessings at home? As the most important step you can take to become more generous is to spend more time thinking about what you already possess and less time thinking about what you don’t. Once you start intentionally thinking that way, you may be more apt to share your life with others.

Give first. When you receive your next paycheck, make your first expense an act of giving. Often times, we wait to see how much we have left over before we determine how much we can give. The problem with this formula is that most of the time after we start spending, nothing left over. This is coupled with the idea that the habit of spending all of it is too deeply ingrained in our lives. To counteract that cycle, give first. Every payday, write a check for $10 to your local homeless shelter. You just may be surprised how you won’t even miss it.

Fund a cause based on your passions. There are countless charities and causes that need your support. With many being in-line with your most compelling passions. No matter if your cause of choice is anchored to the environment, poverty, or religion, there is a way for you affordably give back. Spend time thinking of causes you care about and then commit to giving regularly to those charities. Perhaps as an automatic withdraw or contribution from your paycheck each cycle.

Intentionally decide to change your investments. Oh sure, a lot can be said for changing our spending habits. An equal measure can be stated for changing how we invest particularly in how we invest in businesses charity-minded firms that predicate their business plans towards charity. This allows investors to he intentionality that emerges in your life will help you discover the need for generosity. Such as Matt Redhawk whose firm has found success in multiple fields and allowed Parker the opportunity to give back. His priority is to help families to become self-sufficient and to take control of their own destinies.

Which shows that generosity rarely happens by chance. Instead, it is an intentional decision that we make in our lives. But it does not need to be as difficult as many people think. Sometimes, starting with the simple steps is the best step that we can take. So, friends, I’d like to ask you what simple steps have you incorporated into your life to foster generosity? Please leave your thoughts below.

Sometimes, life can be expensive. After all, you have to pay for your car, electricity, gas and even water rates. You also need to take into account the cost of your insurance and even grocery shopping. It’s very easy for things like this to get out of hand, and when an unexpected expense hits, it can devastate your finances.

Car Repairs

You never really expect your car to break down. It is easily one of the most inconvenient expenses and this is especially the case if you rely heavily on your vehicle. It’s so important that you plan on your car having issues by setting aside an emergency fund. You can also perform maintenance on your car to try and make sure that it doesn’t break down as often. This can include oil changes and even rotating the tires. This will help to reduce the cost of a repair and it can also help you to make sure that you are continually staying on top of the little things.

Medical Expenses

When a medical emergency comes up, you have to make sure that you address the problem quickly. If you don’t then you may end up paying even more at a later date. For this reason, you need to look into Medicare gap insurance. This will help you to avoid any expenses and it will also help you to get the medical support you need. Of course, it’s also a good idea for you to look into having a medical emergency fund as well, just in case your insurance doesn’t cover you for everything.

Utility Bills

Your utility bill will probably skyrocket at certain times of the year. If you want to try and stop things like this from happening then it is so important that you set your thermostat. This will stop your heating from coming on when you are not in the house and it will also give you a much higher level of control over your usage. When it gets to winter, you probably will end up paying more in heating bills anyway so it’s important that you account for this as well.

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Car Insurance

Car insurance companies will usually offer you a discount if you pay your premium in full. This may save money but it also means that you will have a huge bill when you least expect it. One way for you to try and stop this from happening would be for you to put a reminder in your phone every week. You can then put a set amount away and save up for it gradually, meaning that you won’t experience as much of a hit to your finances when the time comes for you to pay your bill.

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Pet Emergencies

If you have a pet and you don’t have pet insurance then this is a huge mistake. You don’t always know when something is going to happen to your pet, and major operations can cost a small fortune. You can try and protect your pet by scheduling regular vet appointments, but it does help to have an emergency pet plan in place so that you can prepare for the worst should something happen.

When we have little ones, we tend to want what’s best for them in life. Now, no matter how hard you may try to protect your little ones from negativity, situations may arise at some point or another that can make living conditions difficult. However, there are steps that you can take which will at least protect your kids on a financial level. Here are just a few to consider.

Home Insurance

Home is where the heart is, but all sorts of disaster can strike. Problems such as natural disaster, fire, and theft are just a few issues that could arise and affect your little ones financially down the line. However, home insurance policies can help you to repair any damage and replace any broken or stolen belongings in your time of need.

Life Insurance

While we don’t want to be morbid, you do need to remember that passing away is an inevitability and that we never know when the worst might happen. So, it’s always a good idea to invest in a life insurance policy. This policy will ensure that your dependents receive a payout should your life be cut short, and this can be used to tide them over until they are able to provide for themselves. Now, before taking out a policy, you may have various questions, such as “How much life insurance do I need”. But not to worry. The infographic below should help to provide you with a little more information on the topic.

Infographic Design By How much life insurance do I need

Interview with Alexis Assadi About His Student Environmental Startup Grant

Alexis Assadi is a financier who founded the Alexis Assadi Student Environmental Startup Grant in 2018. The program offers $1,000 to full-time enrollees in Canadian universities with business ideas that could lead to positive environmental outcomes. The purpose of the grant is to help offset initial business costs, such as incorporation or accounting fees and website design, etc.

To begin with a basic question, why did you decide to launch the Alexis Assadi Student Environmental Startup Grant?

The work I do on a daily basis doesn’t provide direct value to society. I lend money to companies and real estate projects, which may then go on to do impressive things. But I don’t feel as though I make much of an immediate contribution. This grant is a small way to change that.

What do you think about the politicization of climate change?

It’s frustrating because environmental protection and climate change are scientific issues. They should not be political. Almost 100% of climate scientists agree that the world is getting hotter because of humans. There is a consensus on the matter among anybody who knows the facts. The only people who debate it are those who don’t know enough about it – or those who stand to gain financially, usually via oil, gas and coal ventures. Annoyingly, today, if you are concerned about the preservation of our environment then you will often be branded as a liberal or a leftist. But I’m just a guy who would prefer not to live on a planet that is on fire.

Are you not concerned by the few dozen scientists who contest that climate change is induced by us?

No. There are over 7 billion people on earth, so there will always be a few outliers. I’m sure I could find scientists who argue that sugar does not contribute to diabetes, or that smoking does not increase the risk of cancer. That doesn’t mean that the other 99.5% of researchers are incorrect. Moreover, some of the dissenters have been found to have received financial benefits for their opinions. That’s a polite way of saying that people will say stuff for money.

There is debate over whether we should focus on the earth’s environmental issues or begin looking to migrate to other planets. A growing number of technologists are advocating for the latter. Do you disagree?

I don’t see why we can’t walk and chew gum at the same time. I support space exploration, not necessarily because I think humans need to move elsewhere, but because it benefits our scientific community. I also support taking meaningful steps to preserve our planet. The sad part is that we have the means to reduce climate change, but we lack the political will.

What’s the biggest misconception about environmentalism?

There’s an old video clip from the late comedian, George Carlin. He talks about how the narrative around environmentalism is misguided. We don’t need to “save the planet” because it will be fine. Rather, it is we who are and will continue to be affected by destroying it. I think he summed it up perfectly. This isn’t about hugging trees. It’s about the quality of life and even the survival of our species.