ADDICTIONS ARE ONLY BAD HABITS

WOULDN'T LIFE BE EASY IF WE COULD JUST TURN ON AND OFF all the bad habits we learn in our life time? What really seems silly is that it's probably that easy, because we do tend to learn by training ourselves. So goes with our money. Managing shouldn't be for select people, anyone with right training should be able to accomplish working with our own money. But, you have really got to want to and then be committed. This is probably true for any choices we make in life. Keeping a cool head and a good sense of humor should help, and try not to panic. Most bad habits seem to start from the panic mode. For instance, say your car breaks down and it happens right when you need to send your rent and there's not a cent left to do both. O.k., then you know you need the vehicle, but won't have the money for the rent till you have a late payment added on. Stress!! Trying to work this out begins the habit and what you do next. Because once you do figure out a way to handle this, that's probably the way you will always fix it cause it worked. If you train yourself to save, this could be a rewarding habit and cause less panic. All sounds easy, but like anything, it has to be worked at and remember to keep a good sense of humor. So setting up automatic transfer of funds from your checking to your savings will eliminate some of the work. I always try to take the route that requires less work. Now this habit can also become an addiction, so use caution, you don't want to become a tight-wad.
TRAINING YOURSELF TO DO THINGS THE EASY WAY with less work involved, might help keep the habit from becoming an addiction. Maybe even changing things around as to how you work at them may help. Oops, there's that word change. You may not like to change things, especially often, but then there's the challenge. Keep it simple and it should result in less work.
WATCHING WHAT YOU SPEND can become a habit, just as spending all the time can become a habit. Making a list of what you need to buy is a simple way to train yourself on shopping. Keeping a price in mind as to what amount you can spend will also help. Try leaving your money and credit card at home and just window shop. You can make a list of items you might need and their cost for future shopping. It's all about what you learn to think about your managing of your money.
HERE COMES YOUR BROTHER WHO NEEDS TO BORROW MONEY and believe me, he knows you have it. Don't think he hasn't been watching, but you're even less work to hit on and he has already developed his habits of managing his money. This is again another place to have a good sense of humor. Lend him money only once with stipulations he HAS to pay it back. And let him know it won't happen again until he does pay it back. You are now training him on a habit of borrowing. See how this all helps others as well as ourselves? But you really are training yourself to manage your money and making a habit to do it. Hang tough and smile.

ASKING THE PRICE "YOU" WANT TO PAY

THE TODAY SHOW HAD A SELECTION ON "HAGGLING" and what a person can and should be willing to pay for in anything you purchase though it should not be the asking price. More information can probably be found on their MS NBC web site. But the lady stated you have to tell yourself you're not going to pay full price! More importantly, she said you have to believe you are worth asking for a lower price about everything. I guess this means nothing is set in stone. For instance, when you look for a car, there's a sticker on the window telling us what the price of the car is worth as it sits. Now of course, they really want to sell that car, and we are told to have a price set in our minds as to what we want to pay and what type of vehicle we are willing to pay that price before we even set out to look for this purchase. Then the talking begins and you make an offer or ask "What can you do for me so I can buy this car?" This is also where your homework comes in. If you have a trade-in, you should have a blue-book value on your vehicle and if you have money to also include as a down payment, leave these out of the figure. And go from there till the deal is reasonable, but if you're like me you won't feel comfortable. I'm told most people don't, because we don't think we're worth it. Or, it's too much work. But, if you don't ask, you won't know. All they can do is say no, but then look across the street, there's another dealer you can ask. Bet something might just come out of that before you walk out the door.
THIS CAN BE DONE FOR ANYTHING. Even at your Dr.s or optometrist, or any corner store. Say there's a test your Doctor wants for you, but the insurance won't cover it, ask for a lower price on the test. Those special frames you really look good in, but the insurance only covers $15.00 of the $100.00 price tag, ask what he can do for you. Friends of ours went to Mexico for a vacation and did this haggling when they purchased souvenirs, and told us the people feel insulted if you don't haggle on the merchandise. Here, we thought just the opposite. I guess if you think about it, that's what bartering was all about before currency came into existence. Not to get political, but do you think maybe that's what goes on between countries when it comes to aid and such? Hm mm!
ALL THEY CAN DO IS SAY "NO" but there's always a deal out there. It's sounds kind of like fun to see what could come out of trying this and maybe getting a little ahead by having extra money to save. With the economy so flexible, it sure couldn't hurt to try. Believing one is worth it seems to be the biggest challenge to overcome, but it's not impossible.

WATCHING YOUR PERSONEL GROWTH WITH MONEY

HOW DID YOU DO AFTER BLACK FRIDAY AND CYBER MONDAY? Supposedly no one spent alot of money and got many discounts and bargins. GOOD FOR YOU!!!! This means you are being smart and knowing your limitations. And there's three weeks available to start making payments on your credit card charges which will also keep your interest rate down with the keeping of a lower balance. Doesn't do much for the "profits" of the big companies, but it does keep the economy alive and moving. And just wait till the day after Christmas! WOW!! Sales and bargins galore. So if you missed something for someone, you can still get it and probably cheaper. I've noticed the stock market has been bouncing around, but there' always tommorrow. Seems like it always changes almost with the "wind" or something.
DID YOU REMEMBER TO STILL SAVE? Now that's a really neat trick when you are busy spending and getting ready for a Holiday or whatever. But it's important to take care of you and the rest should fall into place. Borrowing too much is a bad trap a lot of people get themselves into when it comes to special occasions. There are, what is usually called, givens, when you have to borrow money to pay for a necessity; a car or education. But always keep these loans in perspective and make sure your budget will allow you to meet the monthly payments. Otherwise, hoof it, beg for a ride or buy a clunker and fix it (even if you don't know how). Education can be sought in the forms of grants or grandparents aid helping with the costs. Don't take any of this too seriously to the point of stressing yourself. Time will allow all to work out if you keep the faith and remain patient. In other words, believe it can and will happen and stay positive. Look how far you've come already as we get ready for this Holiday.

BREAKING ALL THE RULES IN INVESTING

FINDING THE RIGHT PERSON TO HELP with investing is a real trick. Again, you trust referrals as well as well established companies or banks. But you know that one "guy" that has a deal you just can't beat? Well, what do you do with him? It can be someone from your church, or even your own CPA, and something that can go wrong usually does go wrong. And who gets left holding the "o" in his hands. Yep, YOU!! Even under good circumstances it's hard to distinguish these people right up front. You're hoping they will handle everything and you just get to sit back and reap the rewards. A wise person ( even those on t.v.) have once said, " If it sounds too good to be true, then it probably is, so beware". Good rule to go by when it's about your money. There's even those who will look you right in the face and tell you, don't come back and accuse me of being a scam artist and then there you go, that's what they turn out to be( could you only get that moment back to walk away!). And it really is hard to walk away because they give you a convincing picture of what could be, sometimes even with facts. This is where a little foot work on your part can do you more good than harm. I know, where do you start? Usually a background check of the person themselves either on the Internet, or through others who have had past dealings with the person. And you don't have to let the person know other than saying you'll get back with him/her. If they give you, it's got to be today, then that would be a good sign to walk away. It didn't happen yesterday, so today won't make any difference.
GETTING A SECOND OPINION from other companies or banks is always another good way to do foot work. Some will offer free fees or no-loads( no fee charged accounts) with good interest rates and actual re-investments with little to do on your part. Just remember, everyone is in the "business" to make money and sometimes it will cost you a little to get a good return. You have the right to know this information so ask!
IT'S O.K. TO HAVE YOUR MONEY WORK FOR YOU, but you want it available to you when you need it, so ask about the recommended accounts and what their limitations and penalties are if you need to get to your money. Some accounts will also charge an interest fee for early withdrawal as I mentioned earlier in this blog. Knowing facts and getting them in black and white will help you keep up with everything that's going on with your accounts. Buy yourself a 4 drawer filing cabinet or those pleated file holders and keep all your information in those. Everything changes on a daily bases, and what you started out with will change in the following year. And if you sleep any at night, you won't remember how you even started your account, let alone what has gone on with it during that year. For tax purposes, you should hold onto this information for 3-7 years, but I recommend forever. That way, if anything happens to you, your family can have the fun of going through all that paper work and try to figure out exactly what's going on or if it even still exists. Kind of a neat way of giving a history of your past actions throughout your life.
LETTING YOUR FAMILY KNOW WHAT you have is a preference. As we get older, it's good to have someone aware of what your needs are as well as how you pay for them. But this is a subject for another day. Being up-to-date on the options you have for investing is important as well as knowing how to find the right person to help you with this action that is for your future. Remember to do your homework and all should work out for the positive.

INVESTING FOR THE FUTURE

Investing for the future can be the most exciting part of your life. But it can also be very confusing and time consuming. With all the things there are to do in life, who really can do this.
SOMETIMES it can be as simple as 1,2,3 by talking with your personnel office person or simply getting an investment company that either is available through your place of employment or from a reference from a family member or trusted friend. There are IRA accounts available at banks and credit unions with good interest rates and they are also free from service charges. Going with an investment company through work can also be free from charges. A few minutes more of asking questions can verify that fact. When going with a private investment company, there may be fees and other charges involved, but earning possibly better interest. Asking for information about these companies if considering to deal with them will also answer these types of questions.
THE INTERNET CAN HAVE SECURE LINKS that are usually linked with the companies and or banks you deal with. Again, it is through preference that these type of accounts can be established. Most everyone wants to make money, but not have to do all the foot work. Feeling comfortable with someone to handle this for you is sometimes a hard feat to accomplish, but again; this is where family references come in handy. And asking the right questions will also help. Knowing what the right questions are is another problem. But the only dumb questions are the ones not asked. If someone belittles you for asking any question, then you may need to look at that particular person a little more closely. And you know that ole "gut" feeling? Well, if you ever get it with a company or person who is about to handle your hard earned money, "TRUST" that feeling cause it's 90 % times right.
THERE'S ALWAYS GOING TO BE THAT one person who knows what you should do, but is it really right for you? The talk is always good and you do want to make a retirement for yourself, but extremes are not necessary. Especially when you are first beginning to save. There's this catch 22 that gets everybody now and then and you find yourself borrowing against your accounts or cashing in those bonds before they mature. Don't bog yourself down until you get enough good money raises where it won't hurt you to put away a little extra. At this point, try to even make it difficult for you to get your hands on any of the savings, and try to forget it's there. Then if an emergency does come up, you will have it to rely on, although even then you might be able to figure out a better solution to the emergency.
LEARNING TO BE THE CONTROLLING FACTOR of your accounts is challenging and scary, but trust yourself. There are things you can do over the phone, through a secured Internet link and at your bank. If you make a mistake, usually you can correct it. I once transferred money from one account to another over the phone. They sent me papers to sign to make sure it was me. In a couple of years the account did better then when it was in the first account. And I only regret I hadn't found out how to do it earlier, cause it was some time that had got wasted. The credit unions offer bumps on some of their fixed c.d.s which allow you to get a higher interest a certain amount of times a year. Since interest rates change often, this can only be allowed so many times. And c.d.s can be changed once they mature. There are Roth IRAs which you pay taxes on up front. Don't hesitate to ask questions on the types of accounts that are available and how you can handle them.
HOPE YOU ALL HAD A GREAT THANKSGIVING!

ATTITUDE TOWARDS YOUR MONEY

I love watching the Nascar races and have heard drivers give descriptions of their attitude towards speed and the cars they drive. The main word they all have in common is RESPECT. They have learned about the cars they drive and what the cars will and can do when the driver handles them on the race track. But it also gets a little more philosophical when it comes to this word respect. It includes the respect for themselves and how much confidence and belief they have in themselves as race car drivers. So does this go in just about anything in life, including money. If you respect yourself, then you will respect how you get your money and how to properly handle it's existence and how you make it work for you. In other words, you would not do something to get money that would hurt you or jeopardize your position in life! If you have respect for yourself as to how you are in life and keep a positive attitude, then your money will be controlled the same way and that shows respect for your money. When you look at what you have achieved, you gain pride and know it deep down inside where it counts. If you happen to accomplish a better way of life in the world for others along the way, then humbly that's also rewarding. But confidence is knowing inside you are where you want to be with yourself and like yourself for it without depending or relying on others for this gratification.
PEOPLE USING OTHER PEOPLE to gain "anything" is a lazy way to get to their goal unless the people they use also gain from this procedure. Like the Ford's making cars only to turn around and sell the cars right back to the person who worked on the car which appears to have a justifiable end. The person making the car also got compensation for his time and used the monies for whatever; i.e.( paying for rent, food, etc.). In other words, neither of the two got hurt in this process of making money. However, if a person earns money by robbing (stealing) or the selling of drugs; well you can see what the result of this choice will lead in the long run. Someone getting Hurt!!! And it shows a lack of confidence and respect for ones self if they don't believe in themselves. Also this choice could become costly not only money wise but could take away the time one has to live and enjoy life by being locked away and losing their rights.
WE'VE COME ALONG WAY BABY but the pay status is still unbalanced when it comes to gender. So in reading this blog, it may have sounded one gendered, and I apologize for that interjection. But fact is fact. The guy still gets more income for most of the menial positions than the gal and that means he will be relied on for the better income. That doesn't mean the gal goes off tangent and spends the income recklessly and doesn't have the respect for money. If there are two of you, more income to "play" with, i.e. spend, invest and save! And ladies, there are many rich and successful women out there who had to start somewhere before the male became part of the equation. So include yourselves in this Account 4 your money and hopefully all suggestions and recommendations can apply to you. After all, I am women and have tried to follow all of this as I earned my way in life. However, I wish I had done it sooner and then I could have been well set in life or a lot more comfortable than I am right now. But, thought I knew it all then and was too stubborn to take any hints to heart. This is where having a good attitude comes into play. Try to be happy and not too serious about life or yourself. We can actually blame this on how we were raised and the world environment (laws and guidelines we were suppose to follow which have changed drastically). It can be controlled by you and your choices and the following of legitimate guidelines. And if you have any bad habits, you can choose to change them and become what you believe you can become. This can be the start of something new and fun and wonderful!

SECURITY BEGINS TODAY

YOU HAVE ALL THAT PAPER WORK, the spindle receipts, your statement, and maybe even some cancelled checks. The works has very pertinent information about you and must at this point be put under protection. I recommend purchasing an inexpensive cross cut shredder for just these particular moments. Also, statements usually are three pre-holed punched, so buy a cheap three hole book binder. A shoe box works well for cancelled checks ( recommended to keep for 3-5 years for tax purposes). After you have balanced your check book, you no longer need those spindle receipts; keep the one for the new t.v. or i pod and staple it to the information book in case you need to return the product which usually requires a receipt. Otherwise, you can now shred those pesky pieces of paper. Sometimes it's good to keep the latest utility or phone receipt in case of errors or changes to the services. Use to your own discretion, but you can keep them in that same shoe box. By the way, the spindle in your car might be better in the glove compartment or under a seat out of sight. Never know when the wrong environment will appear when least expected. No sense in leaving an open door. And those pre-approved credit card applications? SHRED,SHRED,SHRED!!!! Never just throw these away. Look at that receipt from Wally World, it's got your signature if you used your credit card or ATM debit card. See why these should be shredded?
HAVING YOUR IDENTITY TAKEN OVER CAN and will create a nightmare. Needing to protect your income covers everything you do and how your habits are established. Take that extra minute to proceed with the required actions to secure your property. Be aware of everthing around you. Don't have to be parenoid, just diligent. Can't even begin to know where or what would have to be done to correct a persons identity, but from what I hear it ain't easy!!! Some of the stories, I'm sure, you can find on any blog or news blog out there in cyber space. But, keeping the habit of watching your steps can be a start of controlling your own outcome with how secure your information is kept. For instance, check out secure sites when using a credit card or account information. Find out the rules and deal with good and well known companies. Some of the bigger companies tend to sell some information, but they have private policy issues that they give up front whenever you deal with them. And don't be afraid to ask questions.
A DUMB question is the one not asked.

ANOTHER DAY

NOW YOU HAVE AN INCOME AND A BANK ACCOUNT and are officially in the world wide system of establishing your credit. And it begins with all those "pre-approved" credit card applications. Well, yes it doesn't hurt to open a credit card, but be chosey and pick the lowest high interest rate charge. Most cards have a limit, usually $5,000.00. I recommend never using more than $1,000.00 the first year and pay this back without charging any more on the card. This is now establishing your credit. Hint: never spend more than you have. Your budget now comes into play here. Another very important note; don't put off tomorrow what you need to do today. In other words, the credit card bill will have a due date and the amount you pay should be there by that date. Otherwise, not only will you pay high interest, but also a late fee. And really, you have worked too hard to just give your money away. Sound silly? Not really. One year I decided to start looking down any time I walked and started to pick up money from the ground. At the end of that year, I collected $40.00. Lots of people think it's only a penny or nickle or whatever, but boy can it add up!
So don't give or lose your money. It's yours and be in charge of watching over its care.
Your ATM card can also be used as a credit/debit card, however, it takes the money immediately out of your checking account. This is okay once you have a sound balance to work with, however, be careful with available balances and not being charged for an over-draft fee. By the way, there's no high interest fees on this type of card, yet. And keep your spindle handy for that receipt.
SETTING UP A BUDGET has a lot to do with income. If you make minimum wage, you have to live accordingly. And this is hard unless you live with your parents. Once you can get raises and work more hours, a budget can be easily adapted and used to help you grow. Never be afraid to try and apply yourself to grow and become better. It will probably help make the world better and be more fun. Mom use to say, have a good sense of humor in life and things will be easier to bear. Just remember to not spend more than you get and all of this will fall into place. There's a big world of growing out there and money, without a doubt, makes it all work! When working you set up how your income is handled. If you're single, you claim 0 on your tax deductions. At the end of the year you get to file income tax and probably will get back all the taxes that were held out of your paycheck and paid to the IRS.
You can have direct deposit (highly recommended). Look at what your bills incompass; rent, car payment, and probably cell phone service as well as car insurance ( don't forget the $5.00 saving deposit). If the out-going is more than the incoming, try to adjust some of the billing .i.e. better cell-phone packages without having to take a penalty. At this point, you're trying to get yourself in a good habit of balancing and checks. Be patient because this will take time. Look where you were last year and it's gone and you can never change it, so start from this day to grow. Shall we try to set up a mock budget?
income / bills

6-1-07 $1,000.00 / 6-1-07 $250.00 rent (if you were sharing an apt.)
750.00 / 6-20-07 $ 25.00 cell phone
725.00 / 6-25-07 $250.00 car payment
475.00 / 6-30-07 $175.00 car insurance
300.00 / 6-30-07 $5.00 to savings
bal 295.00

This didn't include food or cost of fuel or even utilities; but that's sort of the idea. These would be on a monthly set up and again would depend on the income for the month. Saving is a great plan and this also can be set up by your employer or bank. Just ask when you first are hired or when you go to your payment department to set up direct deposit. There are probably other sources out there for you to get information, so get busy.

DAY TWO ACCOUNT 4 YOUR MONEY

BANKING CAN BE VERY FRUSTRATING when you try to open an account. You waited two weeks for your first paycheck (policy with new jobs) and now the bank wants to put a 7-10 "working" day hold on these funds. Cheez! Well, be patient. No one said it was going to be easy, but hang in there. You also get an ATM card which is really very scarey. It is a good way to keep you from getting UNAVAILABLE FUNDS. HINT -DON'T SPEND WHAT YOU DON'T HAVE. Yep, those 7-10 day holds from the checks (your pay) that get deposited. Direct Deposit actually makes this work easier, so ask your boss about this event. Oh, and if you're fortunate, your account will actually pay interest depending on the required regulations for the type of account you open. When balancing your checking account you will need to remember to add these few cents to your balance. This will also appear on the monthly statements.
FOR ALL THE YOUNG PEOPLE WHO HAVEN'T A CLUE why any of this is important now, I recommend you begin saving for your old age. Jobs today won't have retirement plans and you really may get use to the way you're living now when you get to the ripe old age of retirement. When I was a yougster(I'm old as dirt by the way) we were told if you started to deposit $2,000.00 a year into an IRA you would be a millionair by retirement. Well, I never did meet anyone that did that nor did I. It's not easy to get that kind of money, even in a year together, to start this account. IRS will give you until April 15 of the filing year to deposit it into an IRA for the previous year and it's tax free until you start drawing on the account after 59 1/2 years of age. More power to you if you actually accomplish the IRA account. If nothing else, ask grandparents to deposit $2,000.00 for you and forget all the other gifts and holiday spending.
KNOWING WHAT IS HAPPENING WITH YOUR MONEY is your right, but you can't put off till tomorrow what you need to do today. My granddaughter wants to be a rich and famous singer and she has potential at age 11. However, her math has a lot to be desired. She told me it wasn't important for a girl to know all this and that she would get a manager to handle her money. You can see where I'm going with this already, right? You need to know everything available to control what's going on with your money and that it's safe and doing the things you want and need with only your hands. Yes, investments are fine, but again watch for loop holes and signing things that cause you to loose that control.
NOW FOR SOME LECTURING CONCERNING THE best ways to accomplish the bottom line. If you're in high school take an elective bookkeeping or accounting course. These show you basics and are made simple to follow. If an adult take a six to nine week course at the local night school class or at your community college. I guarantee it will be time well invested and give you the basic needs of handling your money. It's great to become independent while supporting yourself, but later on you may even want to make more money and have fun doing this with different routes to follow as you learn and grow.

Checking accounts

checking accounts need attention at least monthly. Balancing an account each month will keep up with deposits , withdrawals, and any fees. But you already knew this!!!
keeping all receipts from your checking accounts is one of the most important rules of the monthly habit of keeping up with your account. Suggest you get one of those spindles at any store and place it near your entrance of your home or in your car and stick the receipt on it as you get it.
collecting the information to do your monthly check-up means all the receipts and the checking account info you get from the bank. Boring but in these times needs to become a bad habit!!!
POINT TO THINK ABOUT AT THIS TIME: Income Debit
Pay-in Pay-out
+ -

never less never more
= balance
income should always be the key in maintaining what can be spent. A simple rule ; you never spend more than you get and never count on what you should get tomorrow to dictate spending!
keep it simple but ask for help either from your bank or a trusted family member. I strongly reject asking a friend for help. Usually they need just as much help!
making entries in your check book for everything you do is good, but lets face it, times just aren't always there for this to be done. And if you're like me, the old noggin easily forgets since I probably have slept since that event. This is where the spindle helps. If you can save every action done on your account, this would help save steps to know where your account stands. And you have the RIGHT to know this information!
saving money can be an easy task by automatic deduction of say $5.00 a month( or what you can afford) into a savings account. Know it doesn't sound like a lot, but hey isn't it five more than you had yesterday? Banks now offer over-draft just for emergencies with savings account.
emergencies happen when a car breaks down and there goes the balance otherwise known as the budget. Any emergency can upset the budget, but the savings account can help.
Sometimes a budget has to be adjusted to help, but make calls to the people you have to put off for the next week. If you have an income, they tend to be very liberal in order to save the cost and time of collections.
budgets are easy to make; income (pay) debit (expenses) never to be more than the income! x amount of dollars = x amount of expenses. less the $5.00 you transfer to savings.
Sure you want that I pod yesterday, but restrain yourself and you might get it on sale when you can afford it. All good things come to those who wait.