Category: Budgeting

September 20th, 2017 by Suzi Elton

Debt freedom is only 4 simple steps away. Now I said simple not easy. I know that Guru just told you to pull out your credit card and buy the next big shiny object. He just told you to believe in yourself and spend $995. The super-duper business kit and $150 auto-ship is the key to millions. Just charge it.

That new flat screen is calling. 0% interest for 18 months. It looks good 70 inch and it curves. How about a new car. You just paid this one-off but it’s 5 years old and the new car has more lights. The payments are about the same… what is another 5 years paying off another car. You look good in a depreciating asset.

Cash is King

The tough thing about debt freedom is you want to use cash. When you use cash you feel it more. Your brain registers cash leaving your hand. You don’t feel it when you use your debit or credit cards. Just try it and see. Dropping $995 cash on a business opportunity, $4000 on a flat screen, or $25000 cash for a new car will have you investigating your purchases more.

Paying cash will have you work that new business more diligently. Being stuck with business debt and all the crappy products that comes with it is a pain. I am not going to get in a debate about good debt vs. bad debt. I rather you boot strap your way to success. If you knew how to use debt you wouldn’t be reading this article.

Investing cash into your business and purchases makes you more cautious. It produces delayed gratification and in the end you get better deals because you brought cash to the table. I have bought furniture, electronics, cars with cash, and saved hundreds even thousands of dollars. Cash Is King.

Debts can kill your business, destroy your marriage, and cause friendships to disappear. You don’t need the stress and frustrations that come with owing credit cards, banks, and personal loans. Here are 4 Simple Debt Freedom Solutions.

4 Simple Debt Freedom Solutions

Pay More Than The Minimum

Stop the habit of only paying the minimum. Your statements shows you how long it will take you to pay off your credit cards or loans when you pay the minimum. This only prolongs the agony and you are spending more money. Interest payments equals cash flow for your lenders. That’s how they make money.

Bite the bullet and pay more. If your minimum payment is $50 pay $100. If it is $100 pay $200. Get rid of it. The money is there. Stop eating out, tell 7-eleven you are on vacation, stop all the bad habits of smoking, drinking, or gambling. Smokers can save on average $35 per week if they stopped smoking.

Sacrifice is the key word here. If you have more month at the end of your money you need a cashflow plan. Financial Peace University teaches you how to create a monthly budget. A budget will help you know where your money is going.

The increased payments will save you more money, time, and frustration. Better to live below your means now than fearing living hand to mouth in the future.

Snowball Effect

I got this from FPU. List all of your debts in order from the smallest debt to the largest debt. The next to each debt list the monthly payments.

Don’t worry about who has the highest interest rate. We want something simple. You want quick victories to build momentum. Paying off the smallest debt first will create energy and motivation for you. Seeing progress is the only way you will keep going.

The second part of the snowball effect is to come up with an extra $100 to $200 per month to add to your debt payments. Cut back on expenses, get a second job, sell all that stuff you don’t use. Sell so much stuff the kids think they are next. You will find the money hidden in your credit card and bank statements. Go through them and cut expense you don’t need.

Apply your extra money to the first debt listed. When that debt is paid off, apply that money to the second debt. For example you came up with $200 extra. Plus the monthly payment of the first debt of $15. That is a total payment of $215. Now you apply $215 to the monthly payment of the second debt which is $25. Your total payments are now $240. Keep up this process until all your debts are paid. Hence the snowball effect.

Cash Out Your Savings

Cash out your savings. It doesn’t make since to save at 1% interest and have debt at 18% interest. You will never win that battle. Cash out all of your savings. Leave $1000 in an emergency fund and use that cash to help your debt freedom plan. Trust me on this when you are debt free you will have enough money to fund your savings plan.

Get A Second Job

The goal is debt freedom right? Then get a second job or find another income source. Imagine putting an extra $1000-$1500 per month to your debt snow ball. How fast could you pay off your car loan, student loan, and those darn credit cards. Have a long-term perspective. It could take 3 to 5 years to become debt free.

Notice I didn’t say file bankruptcy, take out a home equity loan, or borrow against your 401(k). Getting into more debt to pay of debt is stupid and just a marketing ploy. It took me 28 months to become debt free and now I put my debt payments into what I call my Debt Freedom Fund. My total debt payments were $1100.

Change Your Behavior

These solutions are simple not easy. Combine all four. That’s what I did. But before you start realize that your current behavior has you in this situation. Keeping this same behavior will only have you pay off your debts and then going back into bondage. There are plenty of books and courses on how to handle your money.

Getting into debt did not happen over night. Neither will becoming debt free. Start now and remain consistent.

Charles Fitzgerald Butler, is an entrepreneur and expert in internet marketing. Charles has a passion for helping people start and run successful home businesses. You can partner with Charles and start building multiply income streams from your home. Charles’ goal is to help all who partner with him achieve cash flow and profits from their business.

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Posted in Budgeting, Debt Management, Uncategorized

September 20th, 2017 by Suzi Elton

Have you saved any money for emergencies? How much have you saved in case you were laid off? Do you compile credit card debt instead of using your savings for emergencies? Do you have a problem with saving money vs. spending it? Have you tried it on your own and not been successful? Do you know there must be a better way?

Do you find it frustrating when you see other people having financial success? Wouldn’t you like to be one of those who don’t struggle and experience tremendous financial success? Don’t struggle any longer. Here are your 8 tips to build a solid foundation of savings for your future success.

    1. Write every purchase and deposit in your check register when it occurs. Be prompt. This way your checkbook and funds available balance is always current and accurate. You cannot overspend and you are aware of your balance. You won’t ruin your budget because it is current.


    1. Balance your checkbook weekly with your online bank register. Correct any errors in your check register such as missed entries. Add a check mark next to the balance amount on the date so you know where you were most recently accurate. Check the entries that have posted and keep this current.


    1. Use your credit cards if you need to and only if you are able to easily pay the complete balance by the end of the month or statement due date. You won’t incur any late fees or interest fees if you completely pay the balance early and on time.


    1. Withdraw $200 every week with an automatic transfer to a money market account – and do not use those funds unless there is an emergency. Act as though you were making a car payment and that money is gone and unavailable. Be disciplined and strong here. This is where you are paying yourself over $10,000 per year ($10,400 specifically).


    1. You can increase this incrementally by adding as little as another $50 per transfer adding another $2,600 per year for a total annual savings of $13,000 per year. This is your gift to you. Impressive!


    1. Next, deduct all of your regular expenses for this pay period right away in your check register and mark the actual date this will occur for each item.


    1. You are predicting your future budget here. This will give you an accurate financial picture of your available balance for the pay period and incidental expenses. We often imagine we have more available than the reality exposes.


  1. Watch your money market balance grow each week and enjoy the satisfaction in knowing that you are a saver – not a spender. It doesn’t take any discipline at all to spend money, and it takes a great deal of strength to save it.

Be powerful. Pay yourself first – over $10,000 per year and build your solid foundation of savings for your future success. You can do it. Be strong.

Posted in Budgeting, bussiness, finance, Payday Loans

September 20th, 2017 by Suzi Elton

n Part I of this article, we looked at “WHAT IS THE PSYCHOLOGY OF WEALTH?”

With the first 19 of the 48 laws of wealth, you learnt to develop the psychology to achieve the mind-set of a wealthy and successful person and attract great wealth into your life:


This section of the laws of wealth is designed to help you plan for wealth. Wealthy and successful people leave nothing to chance, they plan meticulously. So must you.

Law 1: Define what wealth means to you: how do you perceive wealth?

Know your own representation of wealth. Do you want enough money banked for 5, 10, or 30 years? Property investments, for example, that grow by £x annually? Passive income from a business or investment? A specific salary? Pen it down as a guide to measure your progress.

Law 2: Money for what?!: Know exactly what you want money for.

What do you want money and wealth for? Material things? Charitable purposes? A revolution? Write this also down and use it as a goal, a checklist, a reminder, a reference and as a tool by which to measure your progress! And you can only do that with a yardstick.

Law 3: Ecology: make money in a clean way and avoid dirty tricks.

Make money legally because methods detrimental to people or the environment create negative energy. So avoid what seems like the shortcut or the easy option to getting wealth. Work rather to add value to people’s lives guided by safety, fairness, value and legality.

Law 4: See your journey before you: Where are you now and where do you want to be?

What you focus most on is what you attract into your life. If you want to be successful in any venture, see (rather, visualize) your journey before you. The steps to doing this are:

1. Where are you now?

What is your exact financial position to the last penny? Your monthly expenditures? Your budgets? Your cash flow? Your assets? Your liabilities (debt)? This total net worth will be your marker for your wealth and your progress.

2. Where do you want to be?

Do you want to become a millionaire? Have just financial independence? To be able to measure your success, quantify your end goal. So specify timescales, numbers and figures. The more real and tangible and specific you make it, the more the possibility of attracting it.

3. Have a plan

Right now what is your plan? To set up your own business? To invest in property? Only if you look for them will opportunities come to you. So charting your path to wealth will sharpen your awareness to the tools, the people and the challenges you must face succeed.

Law 5: Be Realistic: About what you can achieve and when you can achieve it.

Believe in your dreams but be realistic about your goals and your expectations of wealth. Wealth will come to you, but it will demand lots of patience, hard work, working longer hours and smarter than before. So set yourself realizable targets and fix believable timescales.

Law 6: Your wealth strategy: The road map that will lead you to money and wealth.

Don’t be a person without direction. Follow a strategy and update it when necessary so as to make it.

The first is understanding exactly where you are now:

1. Know how much you earn.

The crux of this is that don’t spend more than you earn.

2. Know really exactly how much you spend.

Determine exactly how much you spend on every area of your life. Include unforeseen expenses in your budget and keep it in another account. And always pay off your debts first.

3. Know your attitude to risk.

How much money can you comfortably ‘risk’ or speculate in your investment strategy?

4. Know your potential avenues to earn.

How many different ways can you think of to earn income, especially passive income?

5. Cash flow and capital growth.

Your cash flow will come from a salary or a dividend certain businesses, careers and investments will bring you. But assets such as property will give you capital growth. Both must be part of your strategy for great wealth.

The second step of your wealth strategy is to set a goal that you can review. As your income increases, raise the bottom 3 columns above but not column 2.

Adjust the figures as necessary based on monthly income:

Earned income: £1,500 [after tax and N.I] Total living allowance [spend including living, debt and contingency]: £975 [65%] Tithing [giving back]: £75 [5%] Total saved and never touched: £150 [10%] Total invested: £300 [20%]

Attitude to risk: 20% [total invested]. Although fairly safe, you can invest more if you are young, ambitious, and single. But if you are a little older and need stability, have children and commitments then add more of your earnings to your ‘total saved’ column.

Now decide where to donate your tithing, what high interest account to deposit your 10% in and what to invest your 20% in.

If you want to invest in property-recommended-hold your investment until it becomes large enough for that.

Develop your strategy as the years and wealth increase. Don’t change it at will. Give it the opportunity to work!

Review your strategy and your finances each year. Open and update it and do a financial check-up to see where you are. Compare this year’s strategy to last year’s to ensure you are making progress in the right direction.

Law 7: Worst case scenario: things more often than not turn out not as anticipated.

It is a fact of business and life that things will not turn out just right. Therefore work the worst case scenario into every business proposition or plan, investment decision or forecast: what if recession struck your business? What if you suddenly fell sick?

Your business plan forecasts profit from year 3; what are your plans if it doesn’t happen until 2 years later?

Work out your sensitivity analysis [projections of earnings/turnover] on low figures. Imagine what happens if you planned to turn over £1m in year 1 but actually get £50,000?

If you obtain an affiliate network website supposed to make you money in 1 month on autopilot, make it 2 months. Your affiliates may not work as hard as you and even careless.

If making an investment, especially over the long-term, factor in a good contingency to cover unexpected costs. So if you need £10,000 for marketing, budget £15,000 or best, £20,000.

Eagerly watch over your streams of revenue. That way you can back out of any threatening to dry up and move your investment elsewhere where it is safe.

Law 8: Know your exit strategy: when to back out of a business before it sinks you.

Business is full of “force majeure” (act of God). So go into any investment with a clear idea of how you can back out and liquidate efficiently and cost effectively when need be. What it all boils down to is diligence, planning, foresight. Don’t ignore your contingencies.

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Building your very own website is SIMPLE within Wealthy Affiliate. The process takes less than 30 seconds to build a beautiful looking, revenue ready website. This is going to be the foundation of your business and what will ultimately lead to a successful venture.
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Your goal before you try to make money with any website is to focus on getting actual people to that website. Without people, you have no business so this is a critical stage.
Earn Revenue
Once you have an audience (traffic), you can promote products and services through special programs called “affiliate programs” which are free to join. These allow you to promote pretty much anything you can imagine without having to own or create the product yourself.

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Posted in Budgeting, Credit Counseling, Payday Loans, Uncategorized

September 20th, 2017 by Suzi Elton

There are ‘do’s and don’ts’ with creating wealth. With many of the basic principles of wealth creation time-tested, the laws of wealth will teach you how to create and attract wealth using specific strategies and systems that bring results.

Some people have made wealth and lost it, right? These 3 laws will exhort you to continue working hard, to give part of your money to help others and to share your knowledge about wealth creation.

How do you Keep and Share Your Wealth?

It is not difficult. Just read on and you will see why.

Law 1: Remember how you got here: Through hard work so continue that way.

Certain behaviours, mindsets and strategies enable you to be rich, successful and wealthy. It was not easy getting here so don’t ever undo all the years of hard work and growth by breaking these Laws of wealth.

When you become wealthy remember those people who helped you so much and the others who received great value from you. Shun selfishness and arrogance. Don’t become over protective, possessive or paranoid about your wealth; continue in the same way using the same principles that have got you where you are.

It is very easy to get carried away with it all and end up with nothing, or even worse than that. Do not flaunt your wealth; you will lose it faster than saying hey!

Be therefore wise, consistent, thoughtful, gracious and understated.

Law 2: Give back: pass the money on to others you feel would benefit from it.

You really can’t take your money with you so think of giving it back: to children and grandchildren to educate and benefit them for their future businesses and careers and to foundations that would use it wisely for the benefit of less fortunate people. You got here adding value to other people’s lives, so do the same when you go. That will add a huge amount to your life.

The many ways to give money to others that save tax and don’t make them feel guilty or indebted are gifts and education and funds to set up businesses and property and investments and all such things. If undecided, contact a qualified financial advisor for advice.

Law 3: Pass on your knowledge: help others become wealthy too and feel good.

If it feels good to be wealthy and successful, it feels even better to pass on your knowledge to help others become rich too and happy.

Passing on your knowledge is a must. Not only are there so many people out there who could use it, but also you would be assuring everyone this inalienable right.

In any case you have achieved this height through adding value to other people’s lives, so why not continue? Your life will become so much more abundant.

This strategy is not really about giving money as it is about education. You remember, teaching somebody to fish is far better than giving them fish?

You can’t imagine what fun it is to teach your kids, friends, family, and thousands others using the internet about the Laws of wealth and success. Doing so can even make you increase your wealth substantially.

It is Stephen Covey who said that once we have learned, we should all be teaching. So think how you can help other people be wealthy, successful and happy. This may be your way of giving. And in the present world, nothing pleases a lot of people more than wealth. So, put joy into somebody’s life.

Posted in Budgeting, Credit Counseling, Debt Management, finance, Wealth Building

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