Personal Finance – A Simple Personal Cashflow Strategy to Follow
Simple personal cash flow management beats out complicated every single time. You’ve probably met your share of people who have a lot of complicated knowledge about personal finance and all these ideas about how to achieve financial freedom, yet they’re broke or pretty close to it. It’s funny how this works, but when you think about it, smart people often have a very difficult time using their knowledge to create real life results.
This is because simple personal cash flow strategies are just a LOT more applicable to real life…especially when your commitment is tested. Let’s look at one simple personal cash flow management system that
The Four Buckets: A Simple Personal Cash Flow System
The four bucket personal cash flow system is so simple that once you get into the habit of using it, you can almost live off of it without having to refer to a written spending journal. It works like this:
1. Commit the first 10% of your income towards investing
2. Commit the second 10% of your income towards building cash reserves for the sake of emergencies or planned purchases.
3. Commit the third 10% of your income towards charitable giving
4. Commit the remaining 70% of your income towards living expenses.
Now, just a few things about the order here…don’t change it. One of the most common habits which broke people have is that they try to pay their expenses and then invest what’s left. This is a certain way to remain broke forever. If you want to start investing money towards building financial security, it MUST become a priority. If you think you can’t pay your expenses with only 70%, start with 5% in each of the other categories and work with that until you get your expenses down to 70 or less%.
However, don’t change the order, because that’s the secret to getting your financial habits turned around and getting out of the paycheck to paycheck trap. The other thing you might be tempted to change is the giving step. However, it might interest you to know that the marketer Dan Kennedy (also known as “The Millionaire Maker”) recently stated that giving was one of the most powerful wealth building strategies….so try it out before you dismiss it.
Keeping it Focused and Simple
I had mentioned that the four bucket personal cash flow system is so simple that you can almost live off of it without writing things down. However, you still need to keep a written spending journal if you want this simple personal cash flow system to work wonders for you. Writing down your spending will keep you focused and disciplined which is the key to long-term success in achieving financial freedom. You can start your simple personal cash flow system today and find out just how effective it really is.
Be successful!
Loans – A Guide to Student Finance (Part 1)
Students now make up 4% of the UK population, this equated to roughly 3.5 million in 2006. According to recent figures each of these students will leave university with almost
Student Loan Finance – Don’t Get Stung by Scammers
Student Loan Finance Scams – I confess I was a victim of student loan scams. My name is Jake and I want to warn you of what to look out for.
I really want to share my knowledge, I did my homework and found out the best ways to beat the scammers. I don’t want you to get done in too. It can so easily happen. Make sure spot the warning signs with these tips.
Did you know that student loans is big business, will companies making millions of dollars per day. This makes the scammers target American Student. In fact thousands of students are getting ripped of by scams. It’s costing millions of dollars.
So What Types Of Scams Are There?
Fraudulent or illegal scams can take on many forms. You might be promised a scholarship, this will typically never arrive. They will encourage you to send an admin fee to process the scholarship, don’t be tricked via this.
It is always a scam. Most people will be flattered they they got a scholarship they were not expecting to they will unfortunately filling their private details and send money off. The scammers have then got you in two ways, one they have your personal private information and then they have your admin fee.
Another form of the scam described above is the Advance-Fee Loan.
They again will get you to send in an Admin fee. Don’t fall for it. See, legitimate might charge an admin fee but they will never require you to pay for it upfront. So you will get caught by paying the upfront fee and the actual loan will never appear.
To get you in they normally offer incentives or a promotion of the loan, they will assure you that the loan is a special low interest rate loan. They will also probably make you act fast, like send in the money in the next ten days and you will get a further discount. Legitimate loans don’t work like this so be on the lookout and don’t get scammed.
If you believe the offer is a scam, report it
Know that reporting this crime is essential. You might be ashamed to admit that you have been conned by such schemes but it’s very important so other people don’t get stung too.
If you don’t make these crimes known then they will just move onto the next victim and the crime will continue, until someone reports it. The first thing you need to do is by filing a complaint with the Federal Trade Commission which can be done online in just ten minutes.
I really do sincerely hope this information gets your mind ticking over and gets you into action. I also hope it provides you with a few tips and some good Student Loans With Bad Credit advice to think about when getting your Student Loan.
To get more advice and information on Student Loans With Bad Credit, or general student loan information, click on http://www.american-studentloan.com