10-09-2014, 04:33 PM
(This post was last modified: 10-09-2014, 04:36 PM by SargeMaximus.)
Cool results from PSTEC.
As for finances: been there bro. I started SM 3 a little over 16,000 in debt. I'm currently 10.
Anyhow, one of the things that helped me was to realize that it's a monthly cash-flow thing when it comes to money.
It makes absolutely NO difference if you're making 20 grand or 2o million, if your monthly cash-flow is NOT positive, you are building a poor (as in, POVERTY) lifestyle. However, if you can get it in the positive and think of money in THAT way, you'll live prosperously no matter what.
I suggest you read:
- Rich Dad, Poor Dad
- The Richest Man in Babylon
- Multiple Streams of Income by Robert G. Allen
- Creating Wealth by Robert G. Allen
- Rich Dad's Cashflow Quadrant
However, all you really need to know to start are a few things:
First, list ALL your monthly expenses. I'm talking bank fees, cups of coffee, EVERY LAST THING. account for ALL the money you spend.
Make a word document and list them. Let yourself wallow in despair if you must, but look at it for a while and try to comprehend how all that spending is hurting you.
Then, work to eliminate the fees.
Emotionally, it'll feel better to just make some victories, so if you just wanna feel better about your finances, then pay off or eliminate the smallest ones first. However, if you want to get REALLY prosperous, the longer route is better in the long run, and that is: find out how much interest everything costs you. the highest ones get paid off FIRST without exception. structure your finances and make a list of debts and which get paid.
Also, make word documents for "Next Cheque Finances". You should know where all your money from your next cheque is going. it's easy to do once you know what debts you will be paying off.
I've structured my finances and now I'm working on eliminating my monthly fees. So far I've eliminated more than $300/month of small fees here and there (old gym memberships, expensive phone plans, buying bulk food online instead of retail, etc) and it adds up.
Take my phone, for example. I was paying $72.99/month on a plan I JUST got a few weeks ago. Of course, to cancel the plan and switch I had to pay a cancellation fee that ended up being nearly $300! Now, most people get scared by that, but since I know to look before I leap, I did the math. If I were to stay in my plan, paying $72.99/month, I'd have to pay about $2700 to the term completion. Switching plans saved me $1800 IMMEDIATELY, but if you account for my early cancellation fees, I only saved about $1500. STILL, that's $1500 in my pocket over 3 years, OR about $45/month.
I'm also working towards getting a bank account with no fees. It's going to take some time, but once it's done, that's another $15/month I'm earning. You really have to see saving money as earning it, to be honest.
Think of it this way: a penny saved, is a penny earned.
As for finances: been there bro. I started SM 3 a little over 16,000 in debt. I'm currently 10.
Anyhow, one of the things that helped me was to realize that it's a monthly cash-flow thing when it comes to money.
It makes absolutely NO difference if you're making 20 grand or 2o million, if your monthly cash-flow is NOT positive, you are building a poor (as in, POVERTY) lifestyle. However, if you can get it in the positive and think of money in THAT way, you'll live prosperously no matter what.
I suggest you read:
- Rich Dad, Poor Dad
- The Richest Man in Babylon
- Multiple Streams of Income by Robert G. Allen
- Creating Wealth by Robert G. Allen
- Rich Dad's Cashflow Quadrant
However, all you really need to know to start are a few things:
First, list ALL your monthly expenses. I'm talking bank fees, cups of coffee, EVERY LAST THING. account for ALL the money you spend.
Make a word document and list them. Let yourself wallow in despair if you must, but look at it for a while and try to comprehend how all that spending is hurting you.
Then, work to eliminate the fees.
Emotionally, it'll feel better to just make some victories, so if you just wanna feel better about your finances, then pay off or eliminate the smallest ones first. However, if you want to get REALLY prosperous, the longer route is better in the long run, and that is: find out how much interest everything costs you. the highest ones get paid off FIRST without exception. structure your finances and make a list of debts and which get paid.
Also, make word documents for "Next Cheque Finances". You should know where all your money from your next cheque is going. it's easy to do once you know what debts you will be paying off.
I've structured my finances and now I'm working on eliminating my monthly fees. So far I've eliminated more than $300/month of small fees here and there (old gym memberships, expensive phone plans, buying bulk food online instead of retail, etc) and it adds up.
Take my phone, for example. I was paying $72.99/month on a plan I JUST got a few weeks ago. Of course, to cancel the plan and switch I had to pay a cancellation fee that ended up being nearly $300! Now, most people get scared by that, but since I know to look before I leap, I did the math. If I were to stay in my plan, paying $72.99/month, I'd have to pay about $2700 to the term completion. Switching plans saved me $1800 IMMEDIATELY, but if you account for my early cancellation fees, I only saved about $1500. STILL, that's $1500 in my pocket over 3 years, OR about $45/month.
I'm also working towards getting a bank account with no fees. It's going to take some time, but once it's done, that's another $15/month I'm earning. You really have to see saving money as earning it, to be honest.
Think of it this way: a penny saved, is a penny earned.
