Choosing Me: expenses

Showing posts with label expenses. Show all posts

7/05/2013

Remove YOUR Desire and Replace it with Fire!

First off I'd like to thank my girlfriend for introducing me to this wonderful eMeditation Message! And then another thank you goes out to Vic Johnson for creating and sharing these beautiful messages!

"People do not attract that which they want, but that which they are." - As A Man Thinketh

To put it another way: When you stop working on what it is you're trying to get, and start working on YOU, only then will you get what it is you want.

Credit goes out to: AsAManThinketh.net http://www.asamanthinketh.net/
for the linked eMeditation: http://www.asamanthinketh.net/audio/emedwk1.mp3

All eMeditations are available via subscription here: http://www.asamanthinketh.net/emeditation.htm

Now for my 2-cent....

Life is all about the journey. The journey includes experiences and these experiences infiltrate our thought process and create "beliefs".

For example: I believe that when I touch a pot with boiling hot water I will get hurt / pain. This thought process comes to mind either because you've experienced it; seen it; or were thought it.

The same goes for "visuals". I believe "fat | out of shape" people are {insert your beliefs here} <-- and then ask yourself "why" do you think that?

Could it be because "society" made you believe this?
Could you believe this because 'someone' told you something about people (like that) and it made you feel a certain way and so you don't want anyone else to "view" you the way that person made you feel?
Could it be that when you "pick out" certain people who "match" your perception of that belief - it triggers an emotion inside you? (Makes you feel vulnerable? Makes you feel weak? Strikes a chord with childhood memories.... Maybe something an adult said (when you were a child) that you never forgot or really understood...)

Whatever the case maybe, remember that WE can't change anyone else but ourselves.

And if there's something external to us (something we feel, see, or do) that triggers things inside us (good OR bad) all we can do is ask ourselves: "Why do I believe this to be true (or not true)?"

Whenever we question our belief system, we challenge our thoughts to "do some work".
And when our thoughts are... working... this is where/when we tend to allow new-changes (thought processes; ways to view things; understand things; see things differently) to be presented to us.

So ask yourself: What is it that I’m trying to “be” and why?

And then… stop “wanting” to be it, and just “be” it.

Remove YOUR Desire and Replace it with Fire!

4/25/2013

Budget / Money Management

Most of us are having to work harder and longer for our money today. Our earnings are a precious commodity, so we owe it to ourselves to look after our money and spend it wisely.

Unfortunately, money management is rarely taught seriously in school, if taught at all, so 'trial and error' has become our teacher. This can result in enormous stress as we wrestle with paying bills, managing debts and saving for the future, against the ongoing challenges of inflation and for some, unemployment. Setting up a budget is the only solution, but take heart - many families find budgeting is much easier than they expect. What better time to find out than right now?

Tips and Tools You Can Use

Successful budgeting begins with clear identification of income and expenses, with the latter broken into fixed expenses (fixed payments that you have to make, such as rent, mortgage, loan payments etc) and variable expenses (ongoing payments that vary and could be controlled, including gifts, entertainment, travel etc.) Many tools are available to help you with this vital first step. Once completed, you'll be in an excellent position to begin taking control of your finances. Here are some great tips:

Assessing the situation

Add up your income from all sources, including take home pay, pensions, child support, alimony, rental income etc..
Determine the fixed expenses you have to pay, including rent, mortgage, utilities, loan payments, insurance etc..
Determine the variable expenses that you have some control over, including food, clothing, entertainment, travel, gifts etc..
Track your daily pocket-change expenses for a week or more, including snacks, newspapers and spontaneous small purchases. These can add up!
Add an amount for emergencies that may crop up over the year.
Add an amount for savings for the future.

Balancing income and expenses

Compare your income with the total expenses you listed above. If your income is greater than your expenses, reflect whether you could make better use of the surplus through saving or investments.
If your expenses are greater than your income, it's time to trim your budget.
Clearly identify the amount you need to trim from expenses.
If debt load is overwhelming, consider credit counselling.

Trimming expenses

Review fixed expenses. This is the hardest area to trim but savings are sometimes possible through better mortgage rates, loan consolidation etc.. In extreme cases, alternative housing options may need to be explored.
Divide your variable expenses into 'needs' which would include basic food, clothing and utilities etc. and 'wants', which might include entertainment, hobbies and travel etc.
Consider where savings could be made. There are many resources to help you with this.
Set realistic targets that allow for small treats. If your budget is too harsh, you are more likely to give up.
Be a financially wise food shopper

o Slash your grocery bill (http://www.chatelaine.com/article.jsp?page=money&cid=294933

o Save on purchases (http://www.ourfamilyplace.com/purchases.html)

o Find saving coupons on the internet (http://www.save.ca/)

· How to handle your debt load

o Manage Debt Step by Step(http://moneycentral.msn.com/articles/smartbuy/debt/contents.asp)

o 10 strategies to reduce your debt (http://moneycentral.msn.com/articles/smartbuy/debt/1330.asp)

o What Debt To Pay Off First (http://www.bankrate.com/dotp/news/cc/19980713.asp)

o Dealing with debt: from the Office of The Superintendent of Bankruptcy Canada (http://strategis.ic.gc.ca/SSG/br01035e.html#Possiblesolutions)

Savings and Emergencies

If at all possible, consider funds for savings and emergencies as budget 'needs'.
Try to cut 'wants' before you cut into these funds.
Consider automatic payroll deductions from your monthly salary into a savings account.

Helpful Resources

Household budget form

(http://www.ourfamilyplace.com/budget1.html)

How to budget

(http://www.bankrate.com/dotp/news/advice/20000511b.asp?keyword=)

Money Saving Tips

(http://www.ourfamilyplace.com/saving.html)

10 strategies to reduce your debt

(http://moneycentral.msn.com/articles/smartbuy/debt/1330.asp)

The Canadian Coupon, Contest and Online Shopping Site

(http://www.frugalshopper.ca/)

Online Coupons

(http://www.insanecoupons.com)

Free things to do in the Greater Toronto area

(http://www.e-kidstoronto.com/ekids/freethings.htm)

For more information or to arrange an appointment

for confidential counselling, contact FGIworld,

your EAP/EFAP provider, (24 hours-a-day/7days-a-week) at:

1-800-268-5211 (English)

1-800-363-3872 (en français)

2/14/2013

Finance Review Tips

Wouldn’t it be nice to have had a “Money Management” class in school? Instead ‘trial and error’ has become our ‘lessons learned’. Money can cause enormous stress as we try to clear up bills, debts and try to save some money for the future… which only ends-up paying off our bills and debts! Understanding budgeting is the key and it’s easier than most expect.

Tips and Tools to Use

Step 1: Identify income and expenses

Step 2: Break down your expenses into (daily, weekly, bi-weekly or monthly):

a) “Fixed payments” such as rent, mortgage, loan payments, insurances, etc.

b) “Variable expenses” that can be controlled, including gifts, entertainment, travel, food, clothing, etc.

c) “Pocket-change expenses” such as snacks, newspapers, spontaneous small purchases, coffee, etc. (These add up fast!)

Step 3: Assessing the situation

a) Sum up all income sources such as take home pay, pensions, child support, alimony, rental income, etc.

b) Sum up all “fixed payments” expenses

c) Sum up all “variable expenses”

d) Sum up your daily “pocket-change expenses”

e) Add savings and emergency amount

Step 4: Balancing income and expenses

a) Compare your expenses to your income.

b) If you need to trim your budget, clearly identify the amount needed.

c) If you notice a significant imbalance, you might want to review your budget with a credit counsellor or financial advisor.

Step 5: Trimming expenses

Where to start? I have too many expenses and not enough money!

a) “Fixed payments”: No one thinks about trimming these payments because of their importance. But savings are occasionally possible with your fixed payments by doing your research: such as better mortgage rates, loan consolidation, etc.

b) “Variable expenses”: split your list into ‘needs’ such as food, clothing and utilities, etc. and then a list of ‘wants’ such as entertainment, hobbies, travel, etc.

c) “Pocket-change expenses”: consider car pooling, make your own coffee “to-go”, bring a lunch, borrow a newspaper or read the on-line news, etc.

d) Set realistic goals: You need to allow yourself small treats. You don’t want to set too harsh a budget – this will only cause you to give up.