I’m Laughing At Money Worries As I Follow My Plan

The whole point of overhauling my finances was to stop worrying about them and make sure I’m set for life. I’ve paid off my small annoying debts and set up a recurring bi-weekly payment on the line of credit.

I’ll let you know from time to time how my good to great life is progressing. I’ll also keep you updated on the weight lose program.

Making life changes isn’t about losing some weight or paying off a debt. It’s about incorporating a new lifestyle. It’s about making changes that make you feel great about your life ….forever. It’s about making new behaviours. It’s about creating new habits.  Life long habits. Is there any other way?

This is why I’m taking a stand on my life and going for the gold right now. I’ve taken what I feel are the two most important areas of my life and focused on them. The rest will be cake. Believe me.

I’m also using the My Life Changes tracker to chart my progress.  Love it.

Let me ask you again. What specific area of your life do you want to change? Is it related to your core personal values?

And finally … why aren’t you doing something about it?

The 3 Biggest Lies About Money

Having money makes you a bad person. Having money doesn’t make you a bad person. It’s what you decide to do with it that counts. I sponsor a boy in Africa. I have helped a store owner in Afghanistan. In a way, the money I make with My Life Changes goes towards helping someone else in the world.

You have to work hard and long hours to make money. Nothing is further from the truth. It’s about working right. Get organized. Do the tough tasks early. Don’t check your emails every second. Take a break every 90 minutes. Focus on one thing at a time and see it to completion!

You must change yourself to make money. You don’t have to change yourself. You have to change the environment around you. Turn off the TV. Surround yourself with friends that are focused and successful. Surround yourself with smart people. You can’t do it alone. Find out who is holding you back and get rid of them!  If the fish in aquarium are sick, clean the water!

Quite Simply, The 5 Most Important Money Rules

1. Have you ever tracked your spending habits? Are you terrified to find out what you REALLY spend your money on?  I once tracked my money habits down to the last penny for two years. I found out I was spending most of my money on miscellaneous items. Itunes, Amazon books, nice clothes, car repairs, dinners out…etc.   It’s incredibly easy to spend money on fun or emergency items. Until you actually see the facts, you have no fucking clue! Facts will help you! Stop being scared and face reality. Track your spending.

2. Hide your money and hide it well. I have repeated this a million times. Out of sight out of mind. Have part of your pay check deposited into a 401k. Make it as difficult as possible for you to extract money from your bank account. Whenever I see my bank accounts with a little extra I say, “Hey, I deserve to spend that little extra”. Justifying spending that little extra is way too easy! You will never build up a nest egg thinking this way. Hide it!

3. Live within your means. The number one rule in money is to STOP spending more than you earn. Stop using easy credit. Stop buying houses you can’t afford. Stop keeping up with your friends, family or neighbours toys.  Your ego is your biggest enemy. Live simple, live free, and live happy!

4. Find out what money means to you. Is it just there to pay your bills every pay check? Is it a way to impress your friends? Or is it a convenient way to pay for items? Are you buying stuff or are you buying experiences. Experiences can last a lifetime while stuff never does. Find out what money means to you. Control it before it controls you!

5. Hang out with your friends and appreciate nature. Turn off the TV.  Avoid advertising. Money is only paper to pay for items in your life. Life is about living each and every day with joy, meaning and happiness. You don’t need money for this. Surprised? Don’t be. Go out and meet your friends and have a great time. Did that cost a lot? No. It’s a fact that your connection with your friends brings you the most happiness in life. Paper money doesn’t even come close. Love nature and love your friends.  They will love you back. Money doesn’t.

How to Weather the Storm of the Economic Collapse

As you may well know, we are currently still in the worst economic situation since the Great Depression. What exactly does this mean and how can you survive until the economy gets back on its feet?

The first thing to do is stay current on what’s happening with the economy. You need to have a basic understanding of it all and keep up with the changes that are happening as well. Without this information, you may make decisions that could be detrimental to your financial future.

It’s far too easy to panic and make rash decisions when the future is uncertain and frightening, so don’t dwell on the latest news, just keep yourself in the loop.

Here are a few things to remember that can help you survive the economic collapse:

1.      Markets. If you own stock invested in a long-term investment, leave it there. The markets will fluctuate up and down, and sometimes it will happen sharply. But over time, the market will recover; it’s a normal ebb and flow.

• If you’re concerned about your investments, ask a professional for their advice. Don’t pull it too soon in a knee-jerk reaction from a steep drop. This is the nature of the stock market and you should be prepared for this type of thing happening.

2.      Diversify. Simply put, don’t place all your eggs in one basket. If all your investments are in one place, spread them out. Look into CD’s, money markets and bonds. These types of investments are slow and steady and the principal is protected.

3.      Spend Less. This is pretty straightforward, but it’s an important reminder. If you went out to dinner 3 times a week before the economy dipped, try 2 times a month now. Put simply: if you don’t need to spend money on something, don’t. The money you save can help pay your bills.

• In this economy, survival requires sacrifice. You’ll have to cook at home more or maybe rent a movie instead of going to the theater. It could be worse, so make due with what you have!

4.      Spend Wisely. Where do you normally shop? If you answer high priced specialty stores, you may need to change your habits.

• Start heading to discount supermarkets and dollar stores. Believe it or not, dollar stores sell cleaning supplies for $1, as opposed to four or five dollars for the same thing in another store.
• Skip the Starbucks stop on your way to work and bring your morning coffee from home instead.

These times are tough. Unemployment is on the rise, jobs are harder to find, and businesses are closing down faster than ever before. Still, this is not something to fear. These things happen. It’s all part of a cycle and the economy will bounce back.

In the meantime, get creative and find new ways to make some extra money and save on expenses:

• Search through your garage, attic and basement for things you own that you don’t need anymore and sell them online.
• Look into home based Internet businesses and ways to generate passive income. Affiliate marketing is great for this. There are places all over the Internet with these types of programs.
• The worst thing you can do in this economy is ignore the fact that there’s a problem or think it won’t affect you. Consider everything expense you have and devise ways you can get it for less. You can make this recessionary economy work to your benefit by negotiating cheaper rates.

You may have to look a little harder for opportunities, but they’re still there. Take the skills you have, along with your passion, and find ways to generate some passive income from them. When you do these things, you’ll be able to weather the storm and come out ahead!

5 Things You Need to Know About Debt

I’m focusing on making life changes around the subjects of money and health. These are two of my most popular subjects from the traffic I’ve seen lately.

These days everyone is looking for ways to reduce debt and save money. It is possible to wipe out your existing debt and learn how to live your life within your means.

Here are five tips that will help you on your way to debt free living:

1. Stop using credit cards. One of the leading factors in the current economic crisis is people buying things on credit they cannot afford. The next thing they know, they find themselves unable to do anything more than make minimum monthly payments.

• Minimum payments will keep you in debt because every month interest continues to accrue on your original balance. A $1,000 balance on a typical credit card can take 22 years to pay off if you make only the minimum monthly payments!
• Don’t fall into the trap of credit card debt. Instead, avoid the hassle and expense by paying cash for the things you buy. If you want a big-ticket item, save the cash before you make the purchase. Only buy when you can afford to pay for the item in full before you bring it home.

2. Buy luxury items with cash. We all have extras and luxuries we want, but using credit to get them is a dangerous path to take. You’ll get much greater enjoyment from the extras in your life when you pay cash, rather than ongoing monthly payments.

• Nothing takes the excitement out of a new toy or nice vacation more than the large payments that strain your budget month after month.

3. Create a realistic budget that includes debt repayment. The first step in gaining control over your debt is creating a workable budget. Rather than stifling you, a budget can bring you freedom! You’ll know where your money goes and you’ll set a spending plan so you can continue buying the most important things in your life.

• Your budget should take into consideration all facets of your lifestyle, including housing, food and household items, utilities, savings, recreation and debt repayment.
• If your budget doesn’t include room for debt repayment, there will never be enough money to pay off your debt. Take control of your financial reality by working with a realistic budget every month. Before long, you’ll see your debt diminishing while your savings grow.

4. Seek the help of a professional credit counselor, accountant or financial planner. The best way to be sure you’re making sound financial decisions is to seek out the help of a financial professional.

• Credit counselors, financial planners and accountants are experts in the areas of savings, debt repayment, investments and tax deductions. Implement each of these areas into your finances to eliminate financial strain and secure a stable financial future.

5. Negotiate better rates with the banks or credit card companies. Many people assume they have no choice but to accept the interest and finance rates offered by their banks and credit card companies, but that isn’t always the case!

• Talk to the people at your financial institutions. You may be surprised at how willing they are to budge.
• If your credit is in good shape or you’ve made steady, progressive strides to improve it, you may be able to get lower interest rates on your debts.
• You might also receive higher interest rates on your savings, giving you a double shot at eliminating your debt entirely and moving forward with your finances in a positive direction.

You can repair your debt problems and learn to avoid creating them in the future. These five steps will point you in the right direction and get you started on a new path to financial freedom and prosperity!

Five Ways to Make More Money Now

No matter what you do for a living, there’s always an incentive to make more money. Maybe you’re trying to pay off credit card bills, save up for something special, or have a little cushion should something unexpected happen in your life.

It used to be that if you needed to make a bit of extra cash, you needed to pick up a second job, like busing tables a few weekends a month or showing up early at the bakery to help with the ovens.

Now, thanks to the doors opened by the internet, and the ease of starting your own business, it’s gotten easier than ever to bring in some extra money without working yourself to death in the process.

Here are five ways you can make some extra cash in a pinch:

1.      Sell your unused items. Do you have books you’ll never read again collecting dust on your bookshelf? Is your closet full of outgrown or embarrassing clothes? Are your old computers taking up too much space? Sell them!

• Have a yard sale.
• Sell your things to specialty shops like second hand clothing shops, used bookstores, used furniture stores, or even repair shops that need parts from what you have.
• Use eBay or Amazon. I would recommend Amazon over eBay for certain items like books and CD’s.   Lots of things without local markets have a national or global market, and there are people who’ll buy the oddest things on eBay.

In particular, if you’ve got some sort of fairly obscure electronic hardware, try selling it on eBay first. Chances are someone wants it and is willing to pay a premium for it.

2.      Ask for a raise at your current job. There’s no doubt that asking for more money is difficult, especially during a recession, but that doesn’t mean it’s impossible. Most people are too scared to ask for a raise, so you can use this to your advantage.

• Assemble a list of the things you’ve accomplished at your work in the last nine months and make your case.
• Another way you may be able to make more cash at your job is to ask your boss if there’s extra work you can do to gain more hours or get paid more for increased responsibilities.

3.      Trade skills for cash. Are you a skilled seamstress, writer, or graphic designer? There are countless websites where you can use your expertise to earn extra money.

• If you’re not sure how to get started, take a few minutes to do an Internet search. Resources abound on the ‘net that can help you find buyers for your skills.

4.      Get a work from home job. There are lots of telephone based customer service jobs that you can do with just a computer and an Internet connection. Some of them pay remarkably well and all of them have relaxed dress codes to boot!

5.      Start your own part-time business. Transform one of your hobbies or skills into a second business. There’s nothing quite as exhilarating as turning your love for something into a business and making it profitable.

Many of these money-making ideas will work fairly quickly with little effort. You can take it one step further and significantly boost your income by creating a business you can run from the comfort of home. Take action and you can make more money!

How to Save Money During a Recession

Whether you want to admit it or not, there’s a global recession happening, and it’s affecting millions of families. People are being laid off, companies are going under, and even some state governments are completely broke.

Finding ways to cut back on your spending can help you during this difficult economic period. Saving money is always good, but it’s a skill that becomes especially important during a recession.

How can you save money during a recession? It’s all about planning, cutting frivolous costs, and changing the way you spend money.

Here are some handy tips you can use to help you save money:

1.      Pay important bills first. The mortgage, electricity, water and heat have to be paid no matter what.

2.      Save Money on groceries. Groceries are a huge, yet necessary, expense. After the bills are paid, most of the budget will fall into the groceries category.

• Buy generic rather than name brands. They usually taste just as good but cost less.

• Buy non-perishable foods in bulk. Many items can be bought in bulk such as rice, canned foods, and frozen foods.

• Never shop on an empty stomach. Eat before grocery shopping; otherwise, you’ll wind up buying more junk and convenience foods because you’re hungry.

• Make a list of what you need and stick to it. It really is that simple!

• Cut and use coupons. 10 for $10 deals and sale items are your friends. Combining coupons with sales can slash your grocery bill even more.

• Avoid shopping at expensive stores, even if they’re closer to home. Instead, go a few miles out of the way for the discount grocery stores. Most items in the store are exactly the same thing, other than the price tag.

3.      Rent movies instead of going out. Have a movie night once a week. Sit down with some popcorn (the kind you pop on the stove) and watch a movie. This is a great way to spend quality family time, without much expense.

4.      Put the credit card down. Credit purchases may get your “stuff” now, but you’ll pay double for it later. If you want something, save up and pay cash or wait.

5.      Cook at home. If you go out to eat two or three times a week, cut back to once every two weeks or once a month. Instead, learn to cook at home. If you plan ahead and cook in quantities, you’ll save time and money by popping the extra portions into the freezer.

6.      Unplug. If there are things in your house plugged into the wall and you aren’t using them, unplug them. Many items, like computers and phone chargers, draw electricity whether they’re on or not. Plug it in when you need it, then unplug it when you’re done.

7.      Lower your thermostat. Set your thermostat at a specific temperature and leave it there. 68 to 70 is an energy-saving setting in the winter. If you get chilly, put on a sweater or grab a blanket. You’ll save more than you realize on your heating bills.

These are just some of the many ways to save money and stretch your dollar a bit further during these challenging times. These tips require a change to your habits, which can take some getting used to. In time, however, you’ll adjust and the money you save can make a big difference in your budget.

It’s important to stick with your plan to save money. Making a change for a week won’t do the trick. Committing to changing bad habits for good will reap the greatest benefits in the long run.

Get Rid Of Passive Barriers To Live Your Dream Life

I opened up my credit card bill recently and grimly realized that a payment to a caterer was on it. My original intention was to pay this portion cash a few months ago. But passive barriers crept into my mind and hijacked my common sense and discipline. What are passive barriers? They are those self destructive thoughts that make us delay both minor and important decisions. I’ll get to it later. It won’t make a big difference in my life. I’m too tired to do this. It’s too complicated. I’ll get rejected. The sad part is that some people let passive barrier thinking affect their whole life.

What are some important decisions that people put off? I should get a health check up. I really should invest in the company savings plan. I will pay off my credit cards this year. I’ll phone that family member tomorrow. I’ll lose ten pounds by the end of next month.

So why do we put these things off? In most cases we try to change too many bad habits at once, which will usually lead to nothing changed. It’s much easier to focus on one area of our life instead of five. This way we create a constant awareness of a life change instead of just giving it a second thought. The other is the classic instant gratification feeling as opposed to a long term investment. We may have fun spending on our credit cards or eating those French fries right now. But in the future we may find ourselves with no savings and horribly overweight with a heart condition.

The choice is yours. Be honest with your passive barriers and address them one by one towards a future of contentment and joy. Or have fun now and pay dearly later. I have to go pay my credit card bill now. Sheesh.

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3 Ways To Make Peace With Money

I enjoy money. Actually, I have had a strong love hate relationship with money all my life. It has completely stressed me out at times, been a constant worry and also made me ecstatic.

Discover what money represents to you

Are you conscious of how much money you carry around? Is paying bills a chore? Do you whip out a credit card because you want to keep your cash on you? Do you spend more than you make? Let’s face it, money is a huge driving force in our lives. However, first we decide what lifestyle we choose to live and then we try to make enough money to live that lifestyle. Some of my friends are brilliant and thoughtful people yet have no desire to accumulate wealth. As long as they have a roof and food they are happy. Books help too. Some of my friends are wealthy. They love a challenge and some challenges have made them rich. If money has conditioned you to constantly think about it, then you need to change your relationship with it. Do you want a peaceful existence with money? Look first at your lifestyle. Is your lifestyle high maintenance? Perhaps you just need to look around and see how much effort it takes to maintain your lifestyle. If it is too much effort, then make the required changes to live a simpler and less stressful life. Start making those changes today! Start with one small change.

Remove all fear of money.

Most people I know worry about their future when it comes to money. They equate money with happiness. They worry constantly if they will have enough. Or they fall for get rich quick schemes. What if you changed your lifestyle and did not have to worry about money anymore? How would that make you feel? What SENSATION would that bring? It would probably be a huge weight off your back. Your life may even become completely stress free! Don’t you want to FEEL that sensation? Think about waking up every day and not having any money worries. I bet that your lifestyle has become simpler as well. Learn to let all of the fear go. You will love that stress free sensation. Learn to remove all the fear.

Its fine to treat yourself …but

All this talk about materialism on the Internet can make people feel incredibly guilty about buying anything. I don’t think it’s bad to buy yourself a treat for working hard. Even if that treat is a fancy sports car. However, I think it’s important these days to understand whether your purchases are creating a big carbon footprint. I think it’s important to consider the environment when making purchases. A global economy has huge consequences. If you decorate your personal jet with a rare African wood, perhaps you just made that wood extinct. Perhaps the emissions from your jet are seriously contributing to global warming. Perhaps that plastic trinket you bought extracted a cup of oil from the ground. If we do treat ourselves, think about the earth’s resources that went into building that treat. Perhaps you won’t buy it after all. Perhaps your life will also be simpler. And mother earth will thank you. Do you really care? I hope so.

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How To Start An Internet Business

I will be sending out an E-mail to my nearing 5000 subscribers this week. Some have subscribed to the free version of www.mylifechanges.com and some to the deluxe paid version. I have had many people ask me how or why I started this business and I will now answer you.

Passion

I have had an intense passion to start my own business since as long as I can remember. I also have a deep passion for physiology, sociology, self development and also business. I am constantly reading (hundreds of books) and refining my own thoughts about what is the best life to live. I have also lived an interesting life, being adopted, and half Asian to European parents in North America. I have lived through a couple of very tough health issues that affected me both mentally and physically. Without the passion to try to make a difference in this world my web site would have never succeeded. I believe without a doubt in my mind that this is something I love to do. I love to provide great information. I love to write my own articles. I want you to learn and help me learn. Occasionally I just want to kick people’s asses really hard, because making life changes isn’t that hard. Just start. Today.

Money

Yes, I would love to make enough money to live off this site or at least nicely supplement my day income. I worked hard to design the website, I believe I am providing a valuable service (Do you want to change your life?) and I don’t want to give it away for free. I invested thousands of dollars in the initial start up when the technology was weaker and I required outside consultation. There is nothing wrong with wanting to make money, unless that is your only objective. Then the passion is gone. I am competing on a global scale here. It is a huge market. For 5 dollars a month you can begin to understand and make life changes. Five dollars! Less than a Happy Meal… I think.

Drive

I work on the site after my day job (I have consulted and and worked at some of the most successful pharmaceutical and aerospace companies in the world). It isn’t always easy to do. But I can’t just quit my day job. I would be a fool to do that. So I find myself tapping away on the laptop at Midnight, researching and reading E-mails late at night. Now you can understand how passion comes into play. Without the passion in my blood this would have stopped many years ago. Yes, it takes work and drive, but this work is connecting me to thousands of people and I cannot ask for anything more.

Overcoming failure

I once lost all my feeds to my blog. I was severely disappointed and never understood what happened. So I had to start over and build back a reader base with lots more completion facing me. Just the thought of that can be discouraging. But I will not give up. I will keep learning from setbacks and I will grow stronger from them. The thing about having a business on the internet is that your completion is global and almost every idea has been tried. So there were plenty of times when I thought my idea was fantastic yet nobody cared. I thought people would swarm the site. This happens rarely. When it does, it is most likely because you have learnt from failures and found a winning formula.

Good Luck to you if you decide to follow this path. And send me an E-mail at terry@mylifechanges.com

I will be happy to answer you.

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