The Money-Management Mistakes You May be Making

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We all want to be want to be financially stable. None of us want to have to worry about paying the bills every month, or whether we’ll have saved enough to send our kids to college by the time they reach 18. Unfortunately, that is a daily reality for many of us, which is really sad when you consider that things really don’t have to be that way!

The fact is, many of us aren’t as financially stable as we could be, no matter what our income levels and commitments are because we don’t manage the money we do have effectively. Check out these common money-management mistakes to see if this could be your problem too:

Paying too Much Tax

If you tend to get a large tax refund at the end of the year, which comes as somewhat of a blessing because you’ve been struggling for most of the year, it’s a pretty big indicator that you’re having too much tax withheld from your pay each month. By simply adjusting your figures, you could keep more money in your pocket throughout the year, so that you don’t have to worry about paying the bills any longer!

Having Too Many Debts

If you have six credit cards and two loans, it can get tricky managing the repayments. Not only are they likely to suck up a sizeable chunk of your paycheck every month, but there’s a good chance you’ll forget to pay at least one of them, thus accruing charges. The good news is that a quick visit to debtconsolidation.co and a quick conversation with a professional is all it takes to make things more manageable. When You consolidate your debts, you really do simplify them.

Not  Tracking Your Money Effectively

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If you try to keep track of your spending in your head, you will miss out lots of expenses, big and small and your budget won’t stretch quite as far as it otherwise might. That’s why you should be using a spreadsheet, or even better, one of the spending tracker apps at forbes.comfree-apps to track everything you spend and help you to cut down on unnecessary purchases. It’ll Make a huge difference.

Not Automating Savings

No matter what your circumstances, unless you are quite literally living hand to mouth, you should be making efforts to save and that. If you’re reluctant to do this, or you always find an excuse not to, automating it so that a lump sum comes out of your bank account and into your savings account every pay day is a great way to make it as painless a habit as possible.

Spending More than Necessary

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Of course, the biggest barrier to financial stability is undoubtedly spending more than you really need toon anything at any time. Before you buy anything, you should really ask yourself if the purchase is necessary and if you can do anything to lessen the cost. Onlyif after doing this, it seems like a good idea, should you buy.

Stop making these mistakes, draw up a tight budget and review your finances regularly to ensure that you have more money in the bank and you’re better able to meet your future financial goals, whatever they might be.

New to Business? Make Sure You Protect It!

Starting a business has never been easier thanks to the internet. Even if you’re just a single mom at home with an idea, it’s possible to turn that idea into something productive and possibly successful assuming you have the right help and training. Of course, it’s not as easy as clicking a few links and typing in a few words, it does take considerably more work than that. However, 2017 has seen a sharp increase in virtual businesses and it’s expected that more and more single moms are going to start their own companies from the comfort of their own homes.

Unfortunately, there are many important factors to keep in mind when running a business, and one that you should never forget is protection. Whether it’s protecting your website from hackers or preventing people from stealing your personal creations, it’s important to safeguard your company from all the threats you can. It can be daunting, so here’s a quick guide on how you can guard your business against malicious intent.

Source: Pexels

Make Sure You Have Insurance

The first major consideration is insurance. If you’re going to be working with others or offering advice, then the most basic form of insurance to get is liability insurance. For example, if you offer some advice or create a website for someone that is eventually hacked, it could turn around to bite you because they could sue you for failing to help them. Liability insurance can cover the legal expenses and help to pay for any damages that you are forced to compensate. Make sure you compare insurance to get the best price that won’t take up your entire budget. Insurance gives you the freedom to grow your company without worrying about something breaking or causing you to halt your growth, and it’s essential for anyone that’s serious about their company.

Mind Your Words

As a public entity, everything you say and do in the name of your company is going to be put on record. All of your social media posts are going to be archived in one way or another, ever controversial thing you say is going to be recorded and used against you in the future, and your comments about certain products could land you in a lawsuit. Make sure you remain professional in the eye of the public or else you could suffer dire consequences. Whether it’s an email you plan to send, conversations with investors or just a blog post that is attached to your company, you have mind your words.

Protect Your Digital Assets

If you’re going to run a virtual business, then you need digital protection as well. Take a look for the best antivirus you can afford and make sure it is always up to date. The last thing you want is a virus stealing all of your passwords or customer information from your computer and selling it on the black market. If possible, use cloud services as much as possible to store business-related documents and data. It’s much harder to hack into and comes with protection already.

H&M Tacloban Soon To Open!

I am sure a lot of ladies out there are excited for the opening of one of the world’s largest fashion retailers, the H&M. It will be their first ever branch in Tacloban/Leyte. I will not deny the fact that I am also excited but because I am broke I am letting my excitement fade away. Sob..sob… ☹☹

For those who are going to the opening I am certain you would not want to miss out! Got this from H&M Facebook Official Page.

Robinsons Place Tacloban opening update:

  • We’re looking for the best dressed individuals on October 6! Top 3 fashionistas will each get H&M GCs worth PHP 2,000!
  • Be the first shopper in line on October 6 and receive an H&M gift card worth PHP 5,000! See you!
  • First 150 in line will receive H&M gift cards
    Next 150 will receive H&M items

Goodluck ladies! As for me, I will just check out the store when I have extra money to spend. Oh well, holiday season is fast approacing so I will surely get my holiday shopping privilege.. hehehe