Do It Yourself! Tips To Streamline Your Budget In 2017

By Maryam Nasrullah

A new outlook for the New Year and a hands-on approach to financial freedom.

You did a lot of stuff last year and spent a lot of money on a lot of things that you probably shouldn't have. Now that you are suffering that New Year's financial hangover and wondering how you could get yourself out of the clutches of despair and into a new headspace, I've got a few tips that could save you a lot of dollars in the long run. Ever noticed how the little jobs that the electrician, carpenter, mechanic and your average handyman cost you at the end of the day? And how you always have that person's number on speed dial? Well, it's time to ditch his number and start learning how to do it yourself. Here are some ways how:

Get yourself a toolbox.

This is an absolute essential. Not having tools is half the problem that you have. Remember that sigh when you realize your plumber has the correct wrench for that stubborn pipe, or when your carpenter has the correct screwdriver that you were looking for before giving up and dialing his number. These tools don't have to be power tools. A simple toolbox for beginners will suffice. After all, it has all the essentials that have been standing in your way. Now that you have tools the first thing that will happen is an increased enthusiasm to try out your tools on a few things, and you will discover that most of the things that you thought were a total write off and beyond your ability are actually quite easy if you have the right tools.

Watch a few videos.

Self-help videos are all over the internet, and they can be quite a resourceful way to learn how to learn how to a few simple jobs around the house. Visual learning can always be easier to implement and to copy 

Better still watch a professional do it.

This time doesn't offer to get them a drink and disappear to watch TV while they solve your problems for you stay, watch and learn. Look at how they approach the problem and how they go about solving it and ask questions. After they are gone, try it out, and next time you won't have to call them again.

Read around.

Borrow that book from that friend and learn how to set up cupboards, how to change an electric bulb and how to change a door handle. There are tons of books that have step by step instructions that can help you become a pro at some of the things you lacked proficiency in.

Try, try again.

Most of all, no one ever succeeds at something they didn't even try to do. Getting out of your comfort zone is extremely hard, but the benefits will be worthwhile. Failing at a task is hard, but there is nothing like that first rush of those warm fuzzy feelings just after you have accomplished a task. It will make you want to attempt to pass another hurdle and eventually you will be invincible.

Give your pocket a break and enjoy doing it yourself.

Article Source: http://EzineArticles.com/expert/Maryam_Nasrullah/2270838

How to Create a Budget for Your Household

By Michael Zuren PhD

Stability in employment, maintaining good credit, and following a household budget is the key to creating long-term financial security. Good credit scores and wise spending habits will help you save more of your money through lower interest rates and less debt. The following steps will help you maximize your credit scores and create a household budget that will eliminate waste and create savings.

• Step One - Request a free copy of your credit report from annualcreditreport.com. This report includes information from the 3 main credit reporting agencies (TransUnion, Equifax, and Experian). You are legally entitled to one free credit report annually.

• Step Two - After you receive your free credit report, thoroughly review the entire credit report for any errors or discrepancies. If you find any errors, such as: late payments, collections, inaccurate balances, or any other inaccuracy you can dispute the errors with the credit bureaus. Typically, the credit agencies reporting the disputed information will investigate the account in question and require the creditor that reported the information to provide proof of the account in question. If the creditor cannot provide evidence that you owe the debt, it would be corrected on your report.

• Step Three - Before you create your budget, you should collect your bank statements, credit card statements, receipts, and any other documentation that shows your expenses. 

• Step Four - To determine your monthly income, you should collect your most recent pay stub. For budget purposes use your income that you take home on your pay stub (after taxes). If you are an hourly employee and work full-time or if you are a salaried employee calculating your income will be simple. For individuals that are self-employed or receive tip, bonus, or commissioned income you will need to average your income over the last 12 or 24 months to create your budget.

• Step Five - Always put your budget in written or printed form. You can use a software program to create a spreadsheet or write out your budget on paper. First write down your monthly income and then break down your current expenses. This will allow you to see where you spend your money and how you may be able to cut expenses and save. Further break down your expenses under fixed and discretionary. Fixed expenses are permanent, whereas discretionary expenses would include: entertainment, groceries, clothing, vacation savings, etc.

• Step Six - Review your budget and look for ways to cut your spending. Hopefully, you find areas to save money each month by eliminating unnecessary spending. Try and pay off any credit cards that you carry balances on, before putting any money into your savings.

After you have reviewed your credit report and created a budget, it is a good idea to review your budget each month and make any changes. Also, if your income or bills change, make sure you adjust your budget accordingly and always consider saving before adding new debts. Remember you are entitled to one free credit report annually, so be sure to review your credit annually to check for any inaccuracy or for possible identity theft.

Article Source: http://EzineArticles.com/expert/Michael_Zuren_PhD./1966583

Make Smart Decisions About What You Buy

By Chris Vine 

I've made plenty of mistakes in my life regarding debt. I only wish I could go back in time and redo some of my spending decisions I made when I was younger. Obviously that is impossible, but maybe this post will help younger individuals who are about to go out and do something they might regret later in life.

I remember when I was 26, living in a nice area of San Francisco with three roommates. It was a good fun time in my life and I have several great memories from this period. I was very good with my money overall, but every once in a while something would come over me and I would do something that I would later regret.

When I was younger, I saw this new television at Circuit City (remember them?); I still remember the exact TV model. It was the Hitachi 61SWX10B and the price was $3,500. It was a rear projection television and was quite large; a 61″ unit that had a built in stand.

Of course, I was not going to go out and drop that much money on a television at that point in my life, but when I heard I could go out and get a new credit card with 6 months no interest financing I thought okay I can make this happen. My plan was to just put $500 down and then pay off $500 a month and I would get that TV without paying any interest.

I executed my plan flawlessly and I was the big man in the house; all my roommates loving that TV for all it was worth. Guest would come over and tell me it was the best TV they had ever seen and I ate it up. We watched movies, played video games, sporting events, we all enjoyed it.

About a year later, all of our lives changed and we went separate ways. Then it hit me, I was now stuck moving this massive television and the burden of moving it to my new place was quite a hassle. All my former roommates got to enjoy my big awesome television for free and they simply moved on. I was stuck with a $3,500 bill and now moving into a place that I could barely accommodate a television that size.

As it turned out, over the next couple of year's plasma televisions started coming out and my once super mac-daddy televisions seemed ancient. Within 4 years of my purchase rear projection TVs were no longer desired at all. I couldn't even sell it due to its large size, so when I moved I simply posted a free ad on Craigslist. Obviously, I gave it to the first interested party instead of trying deal with something that big and heavy with little to no value.

It would have been totally reasonable for me to just buy a $500 television, which also would have been a nice television, or to look into Craigslist and buy something there for an even better deal. But unfortunately, like most people can probably relate to, I had to get the biggest and best product on the market. Looking back I realize it was a very poor decision on my part.

It was clearly not the end of the world, but being 41 now, if I would have not have bought that $500 television and invested the other $3,000, today the money I spent would be worth more than $20,000 and in another 20 years, it would be close to $200,000.

These are the typical decisions that everyone makes, especially the younger society, not necessarily bad decisions, but definitely irresponsible ones. We all make them, as we don't actually think about the long term effects of what we buy.

The key is to cut back, save and invest. It might look like you're not building much over a few months or even a year, but continued savings over a decade or 2 can have dramatic jaw dropping effects. Do you want to give your 20 something self the latest electronics or do you want to give your 40 something self a better, easier life?

Learn how to make smart decisions about what you spend your money on and how to budget. Learn how to pull ahead in life at http://WealthVine.com

Article Source: http://EzineArticles.com/expert/Chris_Vine/2193191

Turning Your Cash Flow From Negative to Positive

by Anna Tai

First and foremost, cut your expenses.

Here are a few ideas on managing your expenses to help you achieve your financial goals:

Take a look at your budget's top 10 or so monthly expenses, there are almost always at least one or two items that you could do without, that you'll end up with more cash at the end of each month.

Now is the time to ditch those bad habits of yours.

If you smoke, that will be the number one habit to kick. First- and second-hand smoking cause harm to both the one who smokes, and the people around him/her. Not to mention to raising tax on smoking habits.

Create a budget and stick to it. A budget helps you compare your monthly income and expenses, and determining needs versus wants.

Live Within Your Means. This is a no brainer. If you spend everything you earn at the end of each month, you'll have nothing left to invest.

Keep a budget and plan for your finance. Be frugal. Buy only what you can afford and need. Don't dress to impress your enemies.

Increase deductibles on your auto, homeowners and other insurance policies, which can help lower premiums

Pay off your mortgage as fast as you can, especially if you're paying mortgage insurance. Mortgage insurance protects the mortgage lender, not you or your family.

Pay off your bad debts

Employ these strategies to increase your income.

Sell extra stuff you have sitting around in your house. Things that you have no use of anymore. Sell them on Craigslist or have a garage sale.

Rent out your spare room. Millions of home owners worldwide are now renting out rooms or floors of their current homes for short periods of time on sites like Airbnb.

Rent out your car. Sites like Uber and Turo allow you to rent out the extra seats in your car - or the whole vehicle, if you're not too faint of heart!

Use your skills and time. Got extra time still after selling your stuff? Leverage your earning power during your off-time, evenings and weekends with your professional skills or personal hobbies to bring in some extra cash. If you love doing crafts, you can sell creative items on Etsy.

You can sell fruits from your tree at local farmer's market. In Hawaii, many houses have fruits trees in the yards. Do you have a special recipe that everyone enjoys? Sell that at local farmer's markets.

You can also earn extra money with cooking, house cleaning, babysitting or dog walking. The opportunity is limitless. You can list your services on sites like TaskRabbit. You can also sign up for Mechanical Turks at Amazon, where you can complete tiny miscellaneous task for a fee.

Starting a second career or a part-time opportunity to earn additional income.

Adjusting your W-2 allowances if you are expecting a tax refund, but consult with your tax advisor before making this change.

Learn more at http://perfecthomeshonolulu.com/cash-flow/

Article Source: http://EzineArticles.com/expert/Anna_Tai/1360081