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Money-Top 10 List of Money Resolutions for 2011

Dec 082010

Confessions of A Frugalista

By: Veronica Mobley

New Year. New Finances.

Top 10 List of Money Resolutions for 2011.

With just a few days left until the end of this year, it’s the perfect time to reflect back on 2010 and think about all the things you would like to do better or differently in 2011. While you’re creating your list of New Year’s Resolutions, it’s only right that you consider steps to improve your personal finances. There’s no time like the present to get a good footing on your bottom line.

Here’s a Top 10 list of Money Resolutions for 2011:

1. Establish a maintenance fund- build a savings account dedicated to the upkeep of your home, car, and general household expenses.

2. Stop Overspending

3. Switch to Interest Bearing Checking/Savings Accounts

4. Pay down Debt

5. Improve your credit score

6. Maximize savings

7. Accumulate Savings Using Tax Efficient Strategies- Along with taking necessary deductions, consider using vehicles such as IRA’s, Cash Value Life Insurance and Municipal Bonds.

8. Budget Big Expenses

9. Don’t Spend Bonuses (This includes income tax returns)- Avoid including bonuses in your budgeted monthly income, instead look for investments that can make that money grow faster.

10. Hire a Financial Planner

Veronica Mobley, is a Financial Advisor and premier catalyst for Women’s Economic Empowerment. She enjoys designing unique Financial plans, enlightening books and time with family. www.sassysuccess.blogspot.com

Money-Get A Grip On Holiday Spending

Money No Responses »

Nov 232010

Confessions of A Frugalista

By:Veronica Mobley

“Tis the season to be jolly” After-all, the Holiday season is intended to be festive and joyous for everyone. But it seems these merry feelings fade each year as we watch our hard earned and, in some cases borrowed dollars quickly vanish into thin air. If only we knew how to embrace the season’s joy without the stress of lingering post-holiday bills. Well, you’re in luck, this article will serve as a blueprint to help you get a grip on your Holiday Spending.

The key to managing holiday spending is to treat it as you would any other financial goal. 5 Steps you’ll need to take before making any holiday purchases:

Plan- Decorating, entertaining and gift-giving tend to be the most costly areas. With careful planning, you can handle these and still have enough money to pay bills.
Prioritize- Enforce self-imposed limits
Research Bargains- Compare prices on the internet to those of retail stores
Budget- Eliminate unnecessary or pricey items
Create Lists- One list for everyone who will get a present. Second list is for those who you would like to purchase gifts for (but not a must).

Money-Sporadically Saving Toward Insanity!

Money No Responses »

Oct 132010

Saving is A Must!

Confessions of A Frugalista

by Veronica Mobley

As little girls our mothers told us, “always save for a rainy day.” In today’s times the definition of “rainy” has been distorted and molded into an entirely different meaning. Previous generations understood saving to be a careful consideration toward a stable future. Today, people have no idea why they’re saving so no real value has been placed on it.

Consistently setting aside savings is a must when planning to be able to retire and enjoy life. The key word here is CONSISTENTLY! Sporadically saving prevents you from gaining valuable time in the market, benefiting from the miracles of compounding, and ultimately accumulating a viable nestegg.

Although I’m in the finance industry and hear all the horror stories, I’m not immune to pressures of spending verses saving. But what I’ve found helpful is, reminding myself what I look like on paper (Personal Budget) and keeping my long term goals handy.

The keys to saving:

Embrace the power of the word “NO.” It takes some getting used to, especially when saying it to your-self. But the rewards far outweigh the anguish.
Spend less be utlizing tools that help you get the most from your money. (See links below)
Consistently contribute to your savings.

Discounts to accent savings plan…

http://www.savings.com/coupons.html

http://www.groupon.com/

http://www.ultimatecoupons.com/

Money-Perfect Time to Kick Old Habits!

Money 2 Responses »

Sep 202010

Kick Those Old Habits!

Confessions of a Frugalista
by: Veronica Mobley

For many, Fall represents new beginnings. As the leaves on trees are changing colors, so should we. This is the perfect time to KICK your negative habits and form successful habits with positive rewards. After all, your habits determine your quality of life.
Think this doesn’t impact your finances? …Think again!
A habit is something you do so often, it becomes easy.

This list may help you identify your negative habits:
• Not tracking expenses
• Not saving first
• Tapping into Savings
• Not having a list when Grocery Shopping
• Buying Groceries that aren’t on your list
• Eating out
• Paying bills late
• Impulse buying
• Procrastinating
• Ending your day without reading information on how to improve your finances

Changing old habits is not an easy task. However, the longer you practice new habits, the harder it will be to revert back to old ones.
Fortunately, you don’t need complicated strategies to create new habits.

Follow these steps and you’re on your way:
1. Clearly identify your unproductive habits
2. Define your new successful habits
3. Write down 3 immediate action steps to put them in practice

Money-A Thristy Mind…

Money 1 Response »

Sep 012010

Is the glass half empty or half full?

Confessions of A Frugalista

by Veronica Mobley

Naturally our minds thirst for simple ways to improve finances. Like with anything else you desire to learn, you read or study it, Right? Well, becoming financially savvy should be no different.

On this journey you have two options: 1. Take another person’s word for it or 2.Heighten your awareness by learning the basics

Granted, the process of achieving financial freedom may seem daunting. So, it’s probably easier to just let someone else handle it. But if you choose this option, you’re also choosing to relinquish expressive control. Now, by going with the latter option, you increase the probability of making informed decisions.

There are several websites and books dedicated to teaching women the keys to financial success. (See examples below). Through these and similar resources, you can explore tried and true ways of building a resilient financial house. Word of Caution: Be prepared to apply what you’ve learned. Otherwise, you’ll continue to get the same results.

The following resources will help quench your thirst:

Great Links…

www.msmoney.com

www.barbarastanny.com

www.myinspirationlounge.com/get-money-savvy

Powerful Books…

Secrets of Six Figure Women byBarbara Stanny

The Power of Focus byJack Canfield, Mark Victor Hansen & Les Hewitt

It’s Not About the Money: Unlock Your Money Type to Achieve Spiritual and Financial Abundance byBrent Kessel

Out and About-RA Sushi and Sassy and Successful

Out and About No Responses »

Mar 262010

Recently Friday Girl TV had the pleasure of going to two great events this past weekend, R.A. Sushi’s all you eat sushi contest, Maki Madness and Sassy Successful, Women’s Empowerment Project, for a private shopping event and Book Club Meeting at Carol’s Daughter at Lenox Mall where we discussed, Secrets of a Six Figure Woman by Barbara Stanny. Both events were loads of fun and definitely great for a Friday Girl weekend out on the town!