Saturday, October 10, 2009
Thursday, September 17, 2009
Friday, June 12, 2009
Wednesday, February 18, 2009
In many households, budget is a dirty word. It implys restrictions of finances and limitations on shopping. Oh what we'd give to be rich and not need a budget. Let me tell you now, the rich live on a budget. How do you think they became so wealthy and stayed that way? So lets get started on helping you become debt free!
1. Make a list of all your expenses eg rent/mortgage, loans, credit card, electricity, telephone/internet, school fees, uniforms, insurances, vehicle registration, extra school expenses - camps, bus fares, groceries,fuel, haircuts, medical, bank fees etc.
2. Make 6 columns beside the list. Mark them Week, fortnight, monthly, quarter, half year, year. Put in the amounts you pay under the appropriate column. eg electricity $300 each quarter, Mortgage pay $700 each month. Some bills vary, like electricity & telephone, put them in separately.
3. Next, total each bill for 12 months. eg Weekly amounts x 52, Fortnightly x 26, Monthly x 12, quarterly x 4, etc. Put total per bill in Year column.
4. Now divide the Yearly totals by the number of paydays you receive each year. eg Fortnightly = 26. If you receive income from different sources on a regular basis, use your main income payday.
5. Add the new amounts together. This is the amount to be deducted each payday BEFORE spending. You can either transfer into a separate account, withdraw total and place in separate marked envelopes or see if your bank offers a Bill Pay account. There are pros and cons for all so chose the best system for you.
If you feel that you will dip into your budget, then perhaps a bill pay account is best. Personally I like Bill Pay as the bank transfers the budgeted money automatically from my account into my Bill pay account. Everytime I receive a bill,the bank will pay it, whether I have enough money in that account or not. It all works out over the year and is totally stress free.
6. Are your expenses more than your income? Obviously you need to cut costs or find extra income. I will go into this more on a different post.
7. Is your income more than your expenses? Well Done!
The next step is to put 10% of your income away for a rainy day (retirement). This is never to be touched.
8. Still have money left over? Awesome. Then put 20% of your income away in another account. This is your emergency fund. Unexpected incidents happen in life and we are not always prepared. Now you are.
9. Any income left over is yours for luxury items, extra savings, whatever you want. You can even pay off your loans/credit cards earlier and save on interest by paying extra each week/month.
Monday, February 2, 2009
For my daughter beginning Year 8, its learning the routine of lessons in different classrooms rather than 1 classroom all day. AND getting up early to catch the bus. Thats a toughie at times.
Woo Hoo!! So far so good! The housework is up to date, the business is back on track and we are still keeping up with the school schedule. Being able to manage my time more efficiently even allows time to relax and just enjoy life.
I'll let you in on a secret to easy Time Management.
Colour Code your day.
List everything you do each day eg bathe, breakfast, go to work, business activities, cook meals, housework, kids activities, family appointments etc.
Now allocate a colour per group of activities. eg green for bathing, breakfast, school run, going to and from work, kids bedtime. red for kids sporting/extra curiccular activities, blue for family appointments, you get the drift, now do the same for your business activities.
Your diary or calender will look like a rainbow making it easy to see whats on at a glance.
You can even fit in those little "things to do" that you've put aside for 'when you get time'.
Let me know how you go.
Saturday, January 24, 2009
After my marriage ended, I was looking for a way to supplement my income. After all being the sole provider for 3 school age children on a pension doesn't leave alot for the basic 'luxuries' most average families enjoy. eg. takeaway meals, dvd hire, occassional trip to cinema to see latest movie, regular clothes shopping, just to name a few.
Initially, I took on regular domestic cleaning to help pay the bills. Not my ideal form of employment but it allowed me to be home for the kids before and after school. It did not allow me to stay home when they were sick. No work, no pay. But hey, we were coping.........just.
A few months later my superannuation report arrived. What a reality check! For the first time in ages, I looked to the future and realised that I would be still living on the pension, there will not be any retirement travel either in Australia or overseas. What a sad sad future to look forward to.
After some consideration I decided to get back into office work. I managed to get some Temp work which was full-time. 3 weeks later the job ended and we all heaved a sigh of relief. The kids hated after-school care, the costs of working full-time in daycare and fuel took care of any extra money I earned. In short, it just wasn't worth the pressure and stress to my already emotionally fragile family. Time to look at other options.
The computer! You hear of people earning an income on their computer, why can't I? I answered a pop-up offering information about work at home. Then forgot about it.
A week or so later I received a phone call. A few in fact. Regarding my request about working at home. I was the lady from hell. I ignored all initial messages, told majority of people that I didn't have time to listen etc etc. Only one lady managed to get my attention long enough for me to listen. What I heard made sense.
What did she offer?
- The opportunity to earn an income
- help the enviroment
- improve my family's wellbeing
- online support and training
- a proven successful business system
- non-toxic everyday household products
- full money back guarantee within 90 days
- no locked in contract
Woo Hoo!!! Christmas has come early, my products have arrived. I tested those products on every house, surface etc I could find. They out-did themselves. Not only did my house smell clean and fresh, my bathroom and kitchen were sparkling. I was amazed. And I didn't have a raw throat or burning eyes from cleaning the bathroom.
The best part about my business? I get to help people around Australia improve their health and finances. Who said you couldn't have a career and be a full-time mum too.