Top 5 Reasons Your Broke and How to Correct Them: Part 3 – Murphy is Your Roommate

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MurphyThe third reason people are broke is because they’ve invited uncle Murphy to stay with them for a while. Murphy doesn’t do anything except eat you alive and keep you broke. He’ll take over your whole house if you let him. Murphy may be visiting you right now and you’re probably saying that you didn’t invite him, he just showed up. You may not have wanted to invite him – seriously who would want to do that, right? But, because there’s one thing you didn’t do he got an invitation whether you like it or not.

You have to prepare for Murphy’s visit. When you’re ready at the time he comes knocking then you will be prepared to boot him straight out the door. Don’t pass Go and don’t collect $200 Murphy! Send him straight to Murphy prison. What do you do to prepare for his visit? We’re glad you asked!

There’s only one thing you must do. Save money. That’s right. It’s as simple – and difficult – as that. Murphy often stays a long time because nothing has been built up that’s strong enough to keep him from entering your house. Having an emergency fund will make sure he doesn’t come knocking, and if he does, that you have enough power to kick him back to the street.

So how much is enough? There are different ideas on this. Some people say you should save up 3 months’ worth of living expenses and some as much as 12 months’ worth. Then there are others that say $500 or $1,000 will suffice. How much you need to save right now depends on where you are financially. If Murphy is currently living with you then $500 is probably already going to be a challenge. You’re going to have to fight hard to get that ground but you can do it. If you have debt then you already have a big financial goal to achieve – getting out of debt – and you should probably start off closer to $1,000. Then when your financial goals change from getting rid of debt that’s bogging you down, you can focus on creating a bigger emergency fund that’ll knock Murphy into someone else’s house.

Another thing to take a look at when determining how much of an emergency fund you need is your insurance deductibles. If something happened how much would you have to spend out of your pocket at one time? You don’t need to add up all of your deductibles because God forbid they typically shouldn’t all happen at once. If they do then you’ve got more than Murphy in your house and you better start praying! Just save up enough to cover your largest deductible and have that as a target for your emergency fund.

Getting Rid of Murphy

Okay so Murphy has moved in with you. What can you do to get rid of your bad roommate? Yet another great question! It’s going to take all you’ve got to put him behind you and then build up enough power to keep him at bay. Here are a few suggestions to help you build up money faster than you have to spend it:

  • Start by eliminating every expense that isn’t absolutely necessary to survive. Cut it down as much as you can so you can free up as much money as possible for saving. Don’t worry, this is only temporary until you get into better financial shape.
  • Start looking around your house to see what you can sell that you don’t really need right now. Here’s a good rule when trying to decide what to sell: If you haven’t seen it, touched it or thought about it in the past 6 months consider selling it. That will translate into a lot even for a person in a one-bedroom apartment. If it’s something you really want again then buy another one later when you’re ready for it.
  • Utilize your talents and skills to identify ways to make some extra money. Most often the easiest way is if you can get paid for overtime at you’re current job. If you make $10 per hour that translates into $15 for every hour you work over your traditional 40. That’s a $5 per hour raise on those extra hours! When is the last time you got a raise that big? It’s usually better than getting a second job, unless of course your second job can land you some good tips like being a server in a restaurant or delivering food. If overtime isn’t something you have access to then it’s time to look at what your skills and interests are and see where you can get someone to pay you for those skills. For example, if you’re passionate about dogs start a dog-walking service. Are you great at making lawns look good or clipping bush sculptures? Land a few side jobs doing that. You don’t need to setup a formal business either. Just find someone who will pay you for what you’re good at. Everyone has something that qualifies here. If you would like some more tips or aren’t really sure what you are good at then don’t hesitate to email SavingChristmas@Live.com. We’d love to give you some input. Don’t worry, it’s free!

If you put all of these tips to work for you, you’ll discover that Murphy isn’t so tough after all. But you have to have some stamina because Murphy is going to put up a fight. So get out there and fight hard and win your house, your finances and your life back!

Top 5 Reasons Your Broke and How to Correct Them: Part 2 – Buying in Bulk

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Buying in Bulk Doesn't Save Money

The second reason you may find yourself with less money than you’d like has to do with a concept that most of us think actually saves us money. But in reality it can be the source of a lot of money waste. What is that concept?

Buying in Bulk Saves Money
Warehouses like Sam’s Club and Costco have done a great job at helping us save money, right? First let me ask you this. If you were saving that much money how could Sam’s Club and Wal-Mart both operate simultaneously? Wouldn’t selling at a cheaper bulk rate for Sam’s Club put Wal-Mart out of business? Of course not! But why? Because they were betting on the very fact that you would think that buying in bulk is going to save you money. The rest of us just shop at Wal-Mart because they already have low prices anyway.

So why do we say that buying in bulk doesn’t actually save you the money you think it does? Think about it like this. When you have one 2-liter of soda in the fridge and you pour yourself a glass, how big of a glass will you use? Well it partly depends on how much is left, right? When you pour the first glass you probably used that your favorite 32oz mug. When you were through pouring it you realized just how much of that one bottle you used. Next time your glass may get a little smaller, but why? Because you want it to last as long as you can. You try to balance enjoying it with making it last longer.

Now picture having a case of 24 cans of soda. When you take one you barely feel the usage. But as you take more and more of them you begin to see that you’re getting close to running out so you begin to space those cans out a little more. So perhaps the first day you drank three but a few days later when there were just a few left you may have only had one. After all, they have to last until you get to the store again, right?

So what did we just learn in our simple little example? The more you have the more you will consume. So when you actually buy in bulk you’re actually giving yourself permission to go crazy with it because you’ve got plenty. If you had bought a reasonable amount that you know would last until your next visit you would have saved money by consuming less even though the price per unit (can in our example) was higher. So buying that $2 bottle of soda actually costs less than that $4 case you bought because you consumed less in the same amount of time.

Here’s another way to think of this example. It’s based on Parkinson’s Law which says – work expands so as to fill the time available for its completion. So as it applies to our example: Whatever you have purchased to last between visits to the store will ultimately disappear whether it’s a 2-liter or a case.

There are definite reasons to buy in bulk, so don’t misunderstand the message. For example, if you’re hosting a big party buying in bulk makes more sense. Or if you’re running a business in which you must buy a lot of supplies such as a restaurant then again buying in bulk makes more sense. However, for most of us who just want to stockpile cans in the cupboard or toilet paper rolls in the closet, it just doesn’t save money or make enough sense.

Top 5 Reasons Youre Broke and How to Correct Them: Part 1 – Credit Cards

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Credit Card on FireFor the next five articles we are going to cover the top 5 reasons you’re broke and how you can correct it so you can keep more of your hard-earned money. Let’s dive right into reason #1.

Reason #1: Credit Cards

If you’re still using credit cards then it’s time to get educated on why you really don’t need them so you can stop being broke. Time to cut those little plastic devils up. Gasp! Yes, we hear your fear from here. The truth is all credit cards are good for is getting into financial trouble and lining the big banks pockets. Do yourself a favor and toss MasterCard and Lady Visa to the curb and save yourself from the madness. You really can do without them. Here are the top 5 reasons people still reason they need a credit card and why it’s just not true.

  1. Emergency Fund: Thinking you need a credit card “just in case” something unexpected happens is really just an excuse to keep that credit kid within you alive. Is he kicking up a tantrum inside you yet? Good, put him in time out and move on with your life. The only emergency fund you need is the one you can put away in a savings account and pay yourself interest instead of paying someone else for the so-called “privilege” of using their money. Did you get that? It’s not your money you’re using it’s theirs and that’s why they charge you such exorbitant fees. Yes, it’s true that savings accounts aren’t paying much interest these days. But would you rather that we give you 10 cents, or that you give us $10? That’s the difference we’re talking about here. Keep the change.
  2. Points: Cards that earn points, miles or even cash back rewards aren’t as good a deal as you think. The reality is they are gimmicks to get you to use your card more. So you rationalize everything by thinking “I know I really don’t need to get gas at this station even though I can get it cheaper just down the road, but hey, I’m earning 2% back on this purchase!” Spending more money means you’re keeping less for your financial goals. No matter which way you cut it your money goes out much faster when you’re trying to earn something on your purchases. If you truly need the item and it is really the right time to get it then sure these rewards are a bonus. But the reality is they are just advertising gimmicks to steal your money, and it works well. Reward yourself with an extra fat bank account.
  3. Large Purchases: People reason they need a credit card for their large purchases such as vacation, a big screen TV or even major house repairs. Yes these things are expensive and they are hard to afford all at once. But if you simply saved up the money over time and paid cash for it you’d be better off for it because you’ll spend less. When you use cash things magically go on a private sale just for you. You can get a better deal and anyone who tells you that you can’t is probably the one trying to sell it to you or is too lazy to try. Save for those large purchases you already know you’re going to need sooner or later and get a better deal and earn a little interest in the process.
  4. Reservations: While a credit card is widely used to make reservations for such things as hotel rooms and air fare the truth is you don’t need a credit card to do it with. Now days most people are taking debit cards for reservations. Besides, if you look again at #3 in this list you’re going to be using that card to purchase it with cash anyway since you were smart enough to save all the cash you needed. Now you’re getting somewhere!
  5. Need Credit: There’s not much to say here now that we’ve dispelled most of the credit card myths and why you can and should do without them. You just don’t a credit score. Most people will argue that you can’t get certain things like an apartment or car insurance without a credit score. Simply not true. We don’t use credit to get anything and we’re doing just fine. In fact, because we don’t use it we’re doing better than fine. If someone says they require you to have credit to buy from them then go to a reputable person to do business. There are always plenty of options out there. End of that story!

Ditching your credit cards will put money back into your pocket, and when you get an emergency fund built up to pay for those truly unexpected expenses and have some money saved up for those future large purchases you know you’re going to need then your whole attitude will change. You’ll not only be glad to ditch that credit card security blanket but you’ll want to. Besides, what would you rather play in, a pile of credit cards or a pile of cash? We thought so.

Up next Reason #2. Watch for it soon.

How to Better Manager Your Time Through Energy Management and How it Effects Your Finances

Energize

We are all very familiar with time management. It’s a buzz word that has been thrown around for quite some time now, yet why do we seem busier than ever? If we are effectively managing our time shouldn’t we see an increase in the spare time we have? After all, isn’t that a basic principle of time management? To help us get more done in less time so we have time to do the things we really want to have time for?

That’s the reason that most of us want to manage our time since we don’t seem to have enough of it. When we do find that we have some extra time we’re so worn out that we don’t want to do anything else. Life just flat out drains us trying to manage our time and get everything done. So can you get the things done that you need to and still have energy left at the end of the day? Yes, and we’re going to talk about that and how it effects to your finances too.

The bottom line is we need to manage our energy first and foremost. Just like with time there are only so many minutes in a day, so it is with our energy. We only have so much of it for one day. There comes a point when we finally run out of it and we have to rest to recover. There are two types of things we can spend our energy on: things that drain us and things that energize us. With energy management we need to focus on doing more things that energize us rather than things that drain us. Think of it like a rechargeable battery. When you use your battery for things that drain it, it slowly loses its energy stores and there will eventually come a time when you have to recharge it in order to be able to continue using it. You should focus more on doing things that give you energy than those that drain you.

Let’s go over a quick example of what this means. Have you ever done something that you really enjoy doing that takes a lot of energy and when you were finished you still had plenty of energy, and on the other hand done something that requires less energy yet when you were finished you felt drained? We’ve all been there. Doing things we enjoy gives us more energy and doing things we don’t much care for uses our energy.

You’re probably thinking that it’s just not realistic to do things all day that you love and want to do, right? It’s true that we all have to do things that we don’t necessarily want to do. However, the goal here is to do more things that give you energy than things that use your energy in order to keep your battery charged. When you do something you love doing you will actually save time when you do it. Have you ever noticed that when you’re doing something you really don’t like it takes a long time to do? Literally it takes more minutes, not just the perception of time because you despise the task at hand. It’s because we really don’t want to spend our energy on so that actually becomes the drain in doing it.

Managing Your Energy

So what can you do? The first thing you need to do is take a realistic look at what you’re doing in a day. Make a list with two columns on it; one for the things you currently do that drain your energy and one for the things that give you more energy. When you first make that list, most of us are going to have a really lopsided list that is heavy on things that drain us. It’s quite fascinating that we seem to think we have to spend time doing things all day that drain us. This is a very big misconception. There are always more ways to do something than just one. A quick example of that would be with someone who wants to work out. You can decide go to a gym and start a weight lifting program in order to lose weight because from the research you’ve heard that is the best way to lose weight. Or you can get active doing something you would really enjoy doing like playing tennis, soccer, join a running club, etc. Any of these activities will help you lose weight. When you choose to do the thing that you would enjoy doing it’s no longer a drain on your energy and you will accomplish more in less time which will also enable you to get more done and have more energy too. Now that’s a win-win situation. Strive to do that with as many things as you possibly can on your list.

Energy and Finances

Okay, so what does this have to do with finances? Let’s face it, finances is one of those things that a lot of people don’t really like to do and it drains them; you may even be one of them. Well, when it comes time to do your finances if you have been doing things that give you more energy during the day then you will have more energy to spend on getting your financial matters in order. When you have more energy you will make better decisions, be able to see solutions more easily and have the energy necessary to carry them out. However, if you can figure out a way that enables you to do your finances in a way that gives you more energy when you do them, then you’ve just created a win-win situation that you will become excited about!

How can you do that? It can be as simple as changing the focus of why you’re trying to take care of your finances. If you’re focus is to get out of debt, you can switch your perspective to what your life will be like when you’re out of debt. If you’re just trying to scrape up enough to retire, you can switch your focus on trying to create a certain amount of wealth. A lot of it is what your goals are. If you make financial goals that are focused on positive outcomes then you will use less energy and possibly even recharge your energy. For example: thinking about making that debt payment as a payment towards your freedom rather than a payment to someone you owe that you can’t wait to get off your back. See the difference? Which one sounds less draining and more energizing? You can also do things that help you get your financial tasks done easier with great tools like Mint.com which is a great website where you can keep a budget almost completely automated for free.

So how will you create a list of energizers that is bigger than your list of energy drainers this year? We’d love to hear your ideas.

How to Achieve Financial Dreams and the Freedom You Desire

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The Freedom GuideWe have some exciting news! Sean Diedel has a new book coming out called The Freedom Guide: How to Achieve Financial Dreams and the Freedom You Desire. It’s all about using a common sense approach in a creative way to help you achieve any financial goal you have. You will learn how to…

  • Have financial security
  • Save more money than you thought possible
  • Keep more of your money in YOUR pocket
  • Prioritize your spending for success
  • Achieve any financial dream you have

If you would like to be notified when it comes out then get on our notification list: sign up for it by clicking here.

Christmas Unwrapped – The Season in Review

Christmas UnwrappedWell, we made it through the Christmas season! So how did your Christmas go this year? While things are still fresh, now is a good time to quickly review your accomplishments on the plan you made for Christmas this year. Were you able to save Christmas this year? Here are a few good questions to ask yourself so you will know how to make an even better plan next year.

Questions for Review

  • Did you make your savings goal for your Christmas spending and keep away from those nasty credit cards?
  • How much of your goal were you able to meet? Make a note of how short you were or how much extra you had that you planned. These answers are vital in planning for next year.
  • Were there things that came up during the Christmas season that your plan wasn’t prepared for? Maybe an extra office party came up or an unexpected invite somewhere else?
  • Did you stick to the gift budget you set for each person? Where did you go over/under? Make notes of why you went over the budget or came in under budget.
  • How will your next Christmas season look? Now is the time to take the notes from the plan you carried out this year and make your Christmas dream happen next year!

Regardless of how you came out this year you made a plan and did your best to stick to it. Now that you have a whole year to wonder what your Christmas will like in 2014, there is nothing you won’t be able to accomplish. You’re probably saying to yourself “We barely got through with Christmas this year and you want me to think about next year already? I’m still worn out from this year!” We definitely hear you. We’re not saying you have to plan every detail out right now. You’ve got plenty of time for that. But if you answer these few questions about the outcome of your plan this year and write down a quick overall grand vision of what you would like to do next year then you should have a good idea of how much you need to start saving each month to accomplish that.

So what will you do next year? Tropical vacation? Host a huge party? Give everyone you know really great gifts? Maybe you could save someone else’s Christmas? Feed a whole banquet of homeless people? Let us know your Christmas dreams by commenting below.

Get Ahead

If you’ve got some extra money from your plan this is a great time to get ahead by taking advantage of the after Christmas sales for the things you’ll need for next year! Look at you! We knew you were an overachiever!

How to Get Out of A Dead End Job

Dead End JobDo you feel stuck in a dead end job? Have you been working for the same company for a few years and not received any pay increases? It definitely makes it hard to achieve financial goals when everything around you is increasing but your pay. If you want to improve your income so you’ll have more to save then you’ll need to break through that dead end. That’s what we’re going to address today.
It’s true that the economy has been down for a while now and that has caused a lot of companies to freeze or even reduce their employees’ pay. But you don’t have to be stuck in a dead end job where you feel like you’re going nowhere. You can get a pay increase. Believe it or not you do have the power to do something about it and we strongly urge you to take action today. But how?

You probably think we’re going to talk about how you should change jobs because you can get a pay increase for the same job just by switching companies. You could definitely do that because company pay increases typically do not keep up with starting pay rates or what other companies are willing to pay to get the talent they need on board with them. But that’s not what we’re going to focus on today. That takes a lot of time and energy and if you’re not careful it can drain you very quickly because the truth is it’s still tough to get a new job right now. There is something else you can do that will have a profound effect on your situation no matter where it is and what you’re dealing with. It is a very simple change but be warned, it can be very challenging.

Your New Program

There is a very simple concept for you to understand in order to change your dead end situation, and if you grasp it then success is ultimately yours. If you’re not up for a challenge then read no further because that is what you’re about to read. There are no special skills or knowledge needed for it except for an open mind to consider the possibilities. If you’re going to read it and immediately dismiss it as not possible then you will have already failed. So do yourself a favor and give it a try anyway. You have absolutely nothing to lose and everything to gain.

So what is this one simple concept? Jay-Z said it best when he said, “I’m not a businessman, I’m a business, man!” Whether you own your own business, work for a company or are currently unemployed you are in business for yourself. You are the only one in control of what you’re getting paid. This is that part where you may be tempted to think that there is no way you can control whether or not your boss gives you a raise, whether or not the company can afford it because they’re already cutting pay and freezing pay increases or that you can control whether or not you get hired if you’re currently unemployed because there are no open positions. This couldn’t be more wrong, and here’s why.

How Business Works

Before we dive into how you can get that raise or that job we have to first answer the questions of how a business works and how a business gets paid? In order for a business to get paid they have to have customers that are willing to pay for the product or services that business provides. If a business wants to sell products or services they have to first offer the customer something of real value that will make them take their wallets out of their pocket and give them a few of those wonderful green bills. If a customer doesn’t think the product or service is more valuable than those bills in their wallets, then they won’t trade them in for a product or service and the company won’t make any money. This works the exact same way for you.

How You Can Get A Raise Anyway

Since you’re a business and you want a raise then you have to provide more value to your employer than you’re currently getting paid for. Right here is another potential fail point because we all usually think that we’re getting paid less than we’re worth. That may even be true for you, but if you’re customer (employer) doesn’t believe this then you’re still not going to get that raise and all the grumbling and complaining in the world won’t change a thing. In fact, it’s more likely to get you booted out the door than to be given a pay raise or a promotion.

So why would a company give you a raise if they say they don’t have the money? They may have even cut wages back for everyone in the company. Don’t be fooled into thinking that they can’t give you a raise. A company will give more money to those people who provide enough value, even in this down economy. They typically reserve money for just this purpose because they don’t want to lose their best talent. Recall that pay wages in a company typically do not keep up with starting pay rates or what another company would be willing to pay you. It’s expensive to lose someone and have to rehire and train to take your place than it is for them to increase your pay. But again, you have to give the company more value than you’re currently getting paid for if you want them to release some of those dollars to you.

How You Can Get A Job Anyway

If you’re currently unemployed then you’re struggling with getting a job in the first place. So how do you operate like a business when your business is broke? You have to acquire a new employer just just like a business would acquire a new customer. You have to market yourself and you don’t have to spend a dime dong it. You will have to spend a great deal of time and energy on it but it will eventually pay off. You have to think like a business. When trying to acquire new customers they often ask questions like where do people that would like our products or services tend to hang out? What do they like? What are they looking for? What problems do they have that we can meet?

You have to ask yourself the same types of questions. What employers can you solve a problem for? What are the employers that would be likely to hire you really looking for? What types of companies are likely to see your knowledge, skills, knowledge, abilities and experience as something they would like to buy? How can you present your product (yourself) to them? How do they need to be communicated with so that they will truly understand the value you want to sell them? When you start to answer questions like these you will be able to formulate a plan that will bring you much better success than just applying for every job that comes across your screen and hoping you get hired. Get out there and get a marketing strategy put together and sell yourself to those companies. You will soon have companies fighting over who get to buy you because after all, you’re the last product on the shelf.

Fire Your Customer

There will come a time in your career when you’re providing real value to your employer and they still won’t recognize it and give you a raise. We’ve been in that situation before. So what do you do then? You’ve poured yourself into the company for years and all you get in return is either silence or a pay cut. Well, what would a business do if it had a customer that they’ve delivered value through all of the free things the business has to offer and the customer still won’t buy? Simple, they stop giving them value and fire them as a customer. That is a valid response. A business cannot possibly please everyone in the world and not everyone will be willing to buy regardless of how much value they have been given.

The same holds true for your employer. If you’ve poured your heart and soul into the company for years and truly have delivered exception value to them and they still refuse to buy in to give you a raise then it’s time to move on and find another employer who will be interested in what you have to offer. Believe me there are lots of employers out there and yes they have benefits as good or better than the one’s your company offers. You just need to develop your marketing strategy and find that new customer.

I Get It But I’m Stuck

If you grasp the concept that you are a business but you’re struggling to figure out how you get started then we have some great resources for to help you out. These are some of the best resources out there and they deliver exceptional value:

48 Days to the Work You Love48 Days to The Work You Love by Dan Miller If you want to know not just how you can get another job but how you can get one you love this will guide you through the entire process in 48 days. It will help you identify how you can present yourself to companies in the same way a business would to its customers. This is a fantastic resource. Find free tools and a supportive community at the 48 Days Website.

Thou Shall Prosper by Rabbi Daniel Lapin
This book is a must read! It will help you fully understand the concepts in perfect detail that we presented to you in this article and it will help you take the steps to implement timeless business strategies that have worked for centuries and continue to be relevant today that you can apply to your search for a raise or a better paying employer.

Tell Us How You Feel

Tell Us How You Feel

An Unexamined life is not worth living.” Socrates

We tend to think like Socrates. If you don’t take a look at how things are how can you ever improve? If you’ve been following along with the program we’d like you to take a very brief survey and tell us how we’re doing so we have the opportunity to improve what we deliver. So please take a moment and complete this survey. Your input is invaluable.

Looking forward to serving you better, 

The Saving Christmas Team

Week 6 – The Finish Line

The Finish LineWell this is it, the final week of the program and December is already well underway. If you’re still with us then congrats on making it this far. I know it’s been a rough journey that has made you just about want to pull all of your hair out at some point. Well take a deep breathe now…go ahead…take one we’ll wait. It’ll help you relax for a minute.

Okay, now that you’re getting more focused it’s time to evaluate where you are right now and where you need to be. Are you on schedule, behind or ahead of schedule? If you’re behind schedule right now then don’t hold your breath too soon because guess what? We’ve got good news for you. It’s only December 6! That means you have a full  two weeks to make it up! If you’re ahead of schedule then you were no doubt the one who was always doing the Get Ahead sections during the program.

Being right on schedule is a good place to be too because you still have two full weeks to add anything to your plan that you’ve decided you’d like to put in it at the last minute.

So that’s your main task this week, to figure out where you are and what you need to meet your goal. Here are a few questions to ask yourself depending upon where you are in your plan. Just to the heading that describes your current situation.

Behind Schedule: How far behind schedule are you? Just a week? Maybe two? Or a whole bunch? Whatever that amount is you can divide in half to come up with what you’ll need to meet your goal before Christmas since you still have two full week left. If that number is too big then it’s time to ask yourself what can you cut out of your plan and still feel very good about? If that number is too overwhelming then ask yourself which would be easier to do, cut another expense out for a couple of week or try to increase the money you bring in by that much more? If you’re still going with one of your previous income ideas how can you boost it to make even more over these next 2 weeks? Can you provide more value, better or faster service so you can justify raising the price? If you’re selling something can you double your sales in these last two weeks? How? It’s time to think outside the box! This is your last opportunity.

Right on Schedule: Very nicely done! If you’re running right on schedule that means you have made a plan and stuck to it. Things to ask yourself are: Was the plan you made too easy? Could you have stretched yourself a bit more and done even  better? Take a minute to evaluate that. What can you do over the next two weeks that will stretch your original plan so that you can add some more real value to it? So you have a choice, you can rest easy knowing that you made a goal and achieved it and ride out the last two weeks relaxing in that. Or you can hit the grindstone a bit more and see how far you can really take it. Just don’t forget to enjoy the season while you’re at it.

Ahead of Schedule: Since you’re such a go-getter you may well be bored by now knowing that you’ve already achieved your goal ahead of schedule. Was your plan too small? Could you have added more to it at the beginning but maybe were afraid too? Perhaps you just put your nose to the grind stone and just flat-out killed it. Whatever the case is there’s no doubt that you’ve got what it takes to create a financial goal and achieve it. So ask yourself what’s your next goal? Maybe it’s time to pay off those credit cards since you didn’t have to use them this year. You obviously don’t need them at this point. You can just as easily setup a savings goal and put some money away in case of an emergency. Isn’t that what people say the main use of credit cards is for them? Well you don’t need that excuse anymore. Besides, it’ll feel better when you’re putting that money in YOUR account and watching it grow rather than giving it away to someone else to help their account grow. So your task is to enjoy the rest of this Christmas season knowing you have the funds you need for it, and then figure out what your next financial goal will be.

Wherever you may have ended up right now you can still come back to this site in the future to get continued help for creating financial goals and achieving them. After all that’s what this site is really all about. We plan to offer tips and financial learning that challenges the status quo thinking about finances to help you bust out of the ordinary and into the extraordinary!

At this point we’d like to take a moment to ask you to share with us how this journey changed the way you think about money and saving. Was it hard? Easy? What struggles did you face and how did you overcome them? Tell us your story and we could feature it on our site for others to celebrate your learning and success. You can email your story to SavingChristmas@Live.com. You can even do a video testimony and we’ll link it to your submission on our website. We are looking forward to hearing the good and the bad of your story.

Week 5 Wisdom

Weekly WisdomTime for another weekly wisdom question to keep you learning. If you are a subscriber to this site then you will receive the answers before they are posted on the site. If you would like to get it earlier and the weekly encouragement that comes with it you can subscribe to the email list by clicking on the +Follow button in the bottom right corner.

The Weekly Wisdom Question was…

What do banks do for you that will give your savings a boost and is a good reason why you should put your money in the bank rather than under your mattress? 

Here is the answer to the Weekly Wisdom Question:

The bank will give you interest for depositing money with them. But why is that such a big deal? Because if you leave it in the bank it’s compounding and I know you’ve heard that compounding interest will give your cash a boost! The long you leave it in there, the faster it will begin to grow. So when you’re saving money do your best not to take it out and interrupt the rocket fuel your savings is getting. Yes, we understand that savings rates aren’t paying too well at this time. But it’s still far better than what your money earns under your mattress…dust.

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