Monday, January 25, 2016
Monday, January 18, 2016
Have you contributed to this?
I had to share this picture from the Lewis Ginter Botanical Gardens. I found it so important to share that I decided to put it on the blog, and not just have a couple of lines about it on Facebook.
Looking at the coins resting at the bottom of this little decorative waterfall, I had to wonder how many “wishes” (meaning coins) collect there over the course of the year… and then, also wonder how many of those wishes are money-related, i.e. pay off debt, save for a vacation, buy a new house, buy a new car, etc. Has any of the wishers considered saving that penny, or nickel, or dime, or quarter and put it toward achieving that goal?
Some of you might know the story of the penny that doubles every day for 30 days… I guess the people how throw money way like this, don’t know it. I know you are going to say that nobody nowadays will double your money daily and make you a millionaire in 30 days. You are probably right. But you also have to agree that if you keep your money instead of literally throwing it away, you have more chances or multiplying it. And if a penny won’t make you a millionaire, no problem. Keep your penny, and find some friends for it – in your piggy bank, in your pocket or in your bank account. You will be richer with all your money rather than just some of it, won’t you?
This is not a way of saying you should not give, or help others, by any means. This is just my way of saying that you can and should do what you want with your money – as long as your decisions are wise, and well thought out. And if your choice is to support Lewis Ginter Botanical Gardens, I will commend you on a wise decision. Give them a donation (from your bank account, tax deductible) and not the change in your pocket thrown in the wishing well.
Another thought that came to mind was the example that we set for the children when we teach them it is OK to throw money away, and that it will bring us more money and more of what we want. What will they think, and how is that going to impact their future?
Monday, January 4, 2016
Where is your money going?
Is getting out of debt one of your goals this year? Or maybe you resolved to lose weight – again… Well, if that is the case, you sure are not the only one. Weight loss and paying off debt are resolutions most people make at the beginning of each year. And then, less than a month later, they get back to old habits and forget to pursue their goals.
If that sounds like you in previous years, maybe you can make a difference in 2016. And here is an idea about getting out of debt: track your spending. I know you think it is tedious and boring, I know it takes time to do, and I know you think you are tracking everything on your credit card statement. The good news is that you already have a centralized place to get the info you need. The bad news is that the credit card statement is not a good tracker for you.
Still, budgeting and lowering your spending are still the best solutions for getting your debt reduced, and later eliminated, tracking expenses is the only way to go. But to make it easier, you have the option of only tracking what you spend eating out. Even though most people don’t realize, that is one of the larger monthly bills – and one that can be lowered quite easily, if you are determined. If you are one of those people who must have Starbucks every day, maybe you should look at your monthly total. You may have a sticker shock! Motivate yourself to cut down by saving the money for a bigger ticket item that you really want – that way you own the item out right, and don’t pay for it with a credit card.
Working just to pay bills is no fun at all! And it definitely is no motivation! So if you want to keep your budget under control, make it a goal to have fun traveling while paying upfront, or own something you like that you pay in cash for, or have an experience you enjoy that is paid for with cash, not credit card.
Sounds like a lot of work? Well so is worrying about where the money is going to come from to pay the credit cards off. And so is dodging calls from bill collectors. So maybe you can resolve to dedicate this year to tracking expenses, and reducing them. It’s only short-term hard work.