This Blog's Purpose

The purpose of this blog is help people improve their Mind, Body, Soul (relationships) and their Money.

Sunday, January 13, 2013

10 strategies to get your money right in 2013

Photo by Tax Credits
1) Debt Snowball - popularized by one of my favorite teachers - Dave Ramsey. This man taught me to become debt free. The system is simple - you take a look at all your debts, regardless of their interest rate and decide to pay them off one by one from smallest to largest.

For the math nerds that would attack a $10,000 debt at 20% interest before a $500 debt at 0% interest - the logic here is that people have a tendency to be illogical. It feels better and builds your confidence to knock off the little bill and then go after it's bigger cousins.

 

2) Envelope system  - This is a low-tech yet effective  way to keep a budget - it is also suggested by Dave Ramsey. You set an envelope for every expense you have during the month that you would normally pay cash for gas, food, eating out etc. Once an envelope begins to get low you know it's time to slow down your spending.

3) Coupon clipping  - Clipping coupons is an excellent way to save money and if you're not doing that now you should start today. There are plenty of websites, flyers, heck - they even put coupons on your receipt tape depending on where you shop - so you have few excuses to use this way to save.

Some of the best Coupon Websites right now include:

Coupons.com
SmartSource.com
Couponcabin.com

4) Kill your TV (or at least your cable) -  I know, the boob-tube has become just part of the family and routine right? Well I hope not, but if you're like the majority of Americans be just a little different and give up cable. They suck you in with a low rate and then before you know it they have you glued to the couch paying as much as $1200 each year - according to Dailyfinance.com to watch other people live their lives to the fullest while you get fatter, older and poorer - stop the madness!

Cancel your cable bill today.

5) Get a budget and stick to it - It was nearly a decade ago when I was reading Details or Maxim or some other quality magazine for 20-year old males who may lack responsibility (I did at the time) when I came across an article that was uniquely responsible - in disguise. It talked about the first step to making a good budget is determining you income versus expenses. I found from that article that when your expenses exceed your income - you're more or less screwed. Silly 20-year old that I was at the time completely fit this description. unfortunately for me it wasn't until a few years after that that I decided to do something about it. Don't be like 20-year old D.

To have an accurate budget you should track all of your expenses from the gas bill to the candy bar you picked up at the gas station and set aside a part of your income for these items. If after a few months of keeping track you realize your check has run out before the month runs out you need to either look for new or better sources of income or areas where you can cut back (eating out, drinking, 3-D movies every week are some hints) 

6) Get on linkedin - One of the most popular social network right now is linkedin.com. This is a place where professionals basically come to network, investigate companies, get job and sell themselves. If you'd like to be in a better position in 2013 linked-in is definitely a network you should join. For those unfamiliar with the network, keep in mind that this is professional network, no political opining or spamming or chain mail messages to your connections here. Keep it professional. 

7) Become a Virtual Assistant - As the economy becomes more global it has led more and more people to become more entrepreneurial with their skill-sets  Just about anything you can do with your computer and, do well - can be auctioned off to both low and high bidders on the internet in exchange for cash.

Sites like Elance and O-Desk allow people to give their best work for a fee. You can also use sites like fiverr.com to earn money in $5 increments - but if the service is easy enough for you to do and hard enough for others to duplicate this site could become very valuable as well.

8) Sell everything but the kitchen sink -  Ebay, Craigslist  or your own garage sale can earn you great part-time cash and reduce the clutter in your closet simultaneously.

If you'd like to check out an article devoted to making money on ebay -
check this one out:  savvysugar

If you'd like to see a blog devoted to making money on craigslist -
check out this one: recraigslist

9) find something your passionate AND people would pay you to do and put it on kickstarter-
Ever since I learned about this site midway through last year I've been amazed at what the power of the internet can create, I've seen a Ipod become a watch, a computer that will likely run your house in the future ("Hello Dave" ..."Hello HAL") and my favorite video game characters from the 1990's turned into high end Japanese style art.

If you've got a crazy idea, little funding but lots of chutzpah to promote said idea - I would highly recommend kickstarter. I personally love the site and always amazed when I browse what awesome and also infantile ideas can go from idea to reality in 60 days or less.  

10) find a need and fill it - I'll be honest, this is what I struggle with. If we use broad strokes we are all where we are today because there is (or was) a need and we filled it. Will that be the case a year from now , 5 years from now 50 years from now? Only time will tell but, if you believe in your ability to control your fate more than the theory destiny ia dragging you around - you have to constantly be searching to fill that need. I am where I am today because I feel a need somewhere - I will be where I am tomorrow because the need for what I bring to the table has either subsided or increased. The more that need increases the more valuable and powerful we become so I'm constantly looking to fill that gap - with varying amounts of focus.

Now it's your turn to give me feedback, did these strategies help or not? Do you have some better strategies? Tell me by sharing a comment in the comments section. If you liked what you read be sure to subscribe. If not, feel free to comment on how I could do better. Thanks for reading. 

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