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Priorities Bring Focus to the Family Budget

For many families the household budget can be an intense source of familial conflict. Not everyone always agrees with how the money should be spent or how it should be managed. More often then not the rest of the family reluctantly defers to whoever brings home the most pay when it comes to financial decision making, but many times this can cause resentment towards that person.

Money is an important part of any family's life and many times family peace and cohesiveness are threatened by the lack of a sound financial plan that has little or no direction. By including everyone in the decision making process and setting a list of priorities and goals that everyone agrees on you can bring peace and harmony to the family money situation.

Here are four steps to bringing peace to your family budget:

1. Set Priorities - Priorities and goals are not necessarily the same thing. These are things in your family's life that you want to focus on in the long term. This could be anything from purchasing a new home, college savings, or any other long term financial plan. The goals you set in step 2 are specific targets you need to hit in order to bring your priorities to fruition.

Do not set to many priorities. No more than 2 or 3 at the time. Remember these are long term plans that will have a positive impact on your family's life. As you and your family set your priorities write them down and keep them conspicuous. This will give your entire family the focus they need to meet these plans.

2. List Your Goals- Once your priorities are set you can start listing the goals that will support the priorities. Goals are specific and measurable conditions that are met in such a way that they bring you closer to fulfilling your priorities.

When you set a goal it should be a target that is achievable with a sound financial plan that starts with the family budget. A goal can be paying off a certain debt in a certain amount of time or saving a set sum of money in a year's time. If you set one to two goals per priority you will find yourself staying focused on the task at hand.

3. Meet Your Goals - Once you have set your priorities and goals it is time to start working towards them. The first step is the implementation of the family budget. This will allow you to track the family money, both income and expenses. It can be as simple as writing it down in a notebook or you can buy personal accounting software that helps you manage your family finances. Which ever method you use it is imperative that you track your family's money with a budget.

4. Periodic Evaluations - From time to time check to see how you are progressing towards your goals and priorities. This is something the whole family can do together. As you check off goals met it will give you and your family member a certain feeling of satisfaction. As you meet your goals and then your priorities re-evaluate your current situation and set new ones that can be met.

Andrew Bicknell researches and writes on a variety of subjects. To learn more about building a family budget please visit his website Household Budgets by clicking here.

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Currency exchange rates 'war' a concern ahead of IMF meeting

The head of the European Central Bank (ECB) warned Thursday of the risk that "disorderly" shifts in exchange rates could harm a fragile global economy.

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The comment came as exchange rates have taken center stage in financial markets, with investors worried about the possibility of "currency wars," in which nations try devaluation as a way to bolster exports.

As ECB President Jean-Claude Trichet spoke, the euro touched an eight-month high of $1.40 per dollar.

IN PICTURES: Some of the world's most eye-catching currencies

The issue will also be a major one as global finance officials meet at Friday's annual meeting of the International Monetary Fund (IMF) in Washington.

Several forces are roiling currency markets and sending up the price of gold – a hedge against currency volatility.

The US Federal Reserve appears ready to embark on a policy of "quantitative easing," an effort to inject money into the economy by purchasing bond assets. That could fan investor worries about inflation and push the US dollar down.

Also in the US, political pressure to confront China over its closely controlled exchange rate has been rising.

Some emerging economies and Asian nations, meanwhile, are struggling to prevent a rise in their currencies in exchange markets. From Japan and South Korea to Brazil, actions by central banks amplify the "currency war" threat.

The hope, as Mr. Trichet hinted, is that these problems can be resolved in an orderly way.

IMF chief Dominique Strauss-Kahn made a similar point Thursday. "I take very seriously the threat of a currency war, even a nascent one," he said in an interview published in Friday's edition of French newspaper Le Monde.

So far, some economists are skeptical that the threat will result in a 1930s-style crumbling of global commerce.

"It is all very unsettling," wrote economist Ed Yardeni in a report for investor clients last week. But "even during good times, there are protectionist flare-ups as domestic industries lobby their governments to protect them from unfair foreign competitors. I'm not convinced that we are seeing much more than is the norm."

Investors have been bidding up the price of emerging-market currencies, because many of those nations have been showing stronger economic growth than the US or Europe. Investment capital has been flowing into the emerging markets, yet they are wary of seeing the value of their currencies pushed too high.

Behind this near-term trend, though, are deep trade tensions – especially over China and allegations that it has kept the yuan artificially weak.

The US and Europe say this is costing them exports and jobs, and now high unemployment is fueling a new push for concessions from China. Earlier this year, Beijing pledged to allow the yuan to rise somewhat.

Last week, the US House of Representatives passed a bill to penalize China with countervailing duties on its exports to America unless it lets the yuan rise faster. Senate action on the bill is uncertain, but at a minimum the House vote sends a symbolic warning to China regarding American public opinion.

For its part, China has recently clamped down on exports of valuable "rare earth" commodities, which are sensitive because of their use in high-tech and defense-industry products.

During the 1930s, currency devaluations and protectionist trade barriers took a heavy toll on the global economy, deepening the Great Depression. In the financial crisis that erupted in 2008, world leaders largely avoided the protectionist path.

Now, despite a nascent economic recovery, the threat of currency or trade wars appears stronger. High unemployment is one driving factor, along with the goal of "rebalancing" the world economy with more exports for the US (a trade-deficit nation). That would be complemented by more emphasis on domestic consumption by export-focused nations such as China.

Economists at Morgan Stanley, in a report Wednesday, argue that a damaging "currency war" is not under way – at least not yet. They say emerging-market nations are focused in-part on domestic monetary concerns, such as watching against inflation, while also trying to rebuild depleted foreign-currency reserves.

Even a mini-war over currencies wouldn't be so bad, they add, if it serves as a subsitute for a trade war involving rising tariffs and quotas on the shipment of goods. The big danger would be if nations escalated fights on both those fronts.

Material from the Associated Press was used in this report.

IN PICTURES: Some of the world's most eye-catching currencies

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Foreclosure - How to Manage Personal Budgeting in an Emergency Situation

With a record number of homes entering the foreclosure arena, many homeowners are now facing the need for serious management of personal budgeting in an emergency situation.

The first step is always your spending priorities. Cutting cable television is a good example. Cut all non-necessity items. You need to concentrate on only paying for food, shelter, utilities, and transportation at this point. Clothing can usually wait. Your insurance should be kept current if possible, and if you are using child-care to earn your income, that would fall under a necessity.

Ignore the phone. If you are getting calls from creditors you will have to ignore them for now. Focusing solely on the payments outlined above is critical. It does not matter who is calling you. Taking money from the list of absolute necessities to pay the people who are calling to stop their collection efforts could be a grave error.

The painful step that most people ignore is making your list of household income and expenses. This step cannot be overlooked, and you may be surprised at the amount of spending going to an item that you can certainly live without, at least in the short-term.

Desist on saving by temporarily putting a stop on retirement saving, college savings, or the like.

You will need a concrete plan on how to approach your foreclosure based on becoming well informed as to your options, and deciding which strategy will work best for you and your circumstances.

Credit card bills, medical bills, any personal loans or any other type of credit payment will need to be delayed at this point. Remember - ignore the phone.

You can contact your creditors, and for the best results, rather than giving them an emotion-based story, you'll be more apt to get the desired results if you tell them your current situation, what you are planning on doing about it, and roughly when you will be able to pay them. Not paying your credit cards for instance will damage your credit rating, but this is more of a survival situation and your credit rating is not a priority.

For extra income you can sell items around the house you don't need on craigslist.org for instance at no charge. Other really viable additional income options can include working more hours, take on side jobs, or get out from under those large car payments by trading down. You can also always try to get some kind of bank loan to tide you over.

Successful results in an emergency financial crisis will require focus and extreme measures in cutting your spending.

If you need help with your home foreclosure, you can find it here:

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Household Money Management is Essential to Get That Ship Sailing

When it comes to running a tight ship at home that includes taming the budget. Household money management is the way to make that ship have smooth sailing. While it can be difficult to look at debt and monthly budgeting, finding answers helps make for a brighter future. When working with a financial counselor you will find that there are options to how to best manage household spending. This is essential to be able to turn things around. There really is hope and light at the end of the tunnel. It is now time to go to that light and shine.

What if you knew you could take your money and work a budget to actually makes future dreams come true? The first step in household money management is writing up goals. Working with a private financial counselor, together you can learn how to make the best use of your money. It will be possible to take funds from your budget and use them for goals. You may even want to learn more about investments to make some of your money work for you. Imagine how wonderful it will feel to watch and help that metamorphosis of piled up bills turn into an avenue to future opportunities.

There is no need to keep feeling overwhelmed. Here is a little tip. Just sit down and start listing all the things you would like to do if money were not an issue. Once you are done with that list then circle your favorite three items. You will have in front of you a start in goal setting. Now that you have come to this point it is time to gather up financial records and do the next step in household money management. The good news is that you don't have to do this alone. This is where we can help. We partner with you to make those checks and balances turn into something meaningful to work with.

Unless you really want to miss out on the money making industry what have you got to lose? Household money management is a skill. Skills are best learned from a professional. Would you know how to do any number of things you do if you has to teach yourself everything? Perhaps you would but there may be other options that make something work better. In order to go forward it is wise to know the best investments for a great financial future. Your ship will sail in still waters.

Peter O. Justin writes about money management at MoneyManagementTips.biz.

Do your magazines help you?

As I’ve mentioned before, my wife and I subscribe to a handful of magazines of various kinds.

Skip to next paragraph Trent Hamm

The Simple Dollar is a blog for those of us who need both cents and sense: people fighting debt and bad spending habits while building a financially secure future and still affording a latte or two. Our busy lives are crazy enough without having to compare five hundred mutual funds – we just want simple ways to manage our finances and save a little money.

What I’ve found is that these magazines (aside from a couple of freebies that we won’t pay to renew) fall into one of two categories. Our magazines either are a source of long-form essays that are hard to read in an online context (like The New Yorker or The Atlantic) or they’re what I like to call “project” magazines.

Simply put, “project” magazines are publications that directly instruct you or encourage you to do something in your own life. Cooking magazines fall directly into this category, as does any sort of do-it-yourself home improvement magazines. Ones we subscribe to include Make, Cooks Illustrated, and Bon Appetit.

For our dollar, these magazines have made a tremendous positive impact in our lives. They’ve encouraged us to cook at home instead of going out (saving us money and also increasing our kitchen skills), take on home improvement projects, and experiment with countless other little things, too.

Along the way, though, we’ve learned a few things about how to really put such “project” magazines to good use.

Use them as a resource, not as an archive. It isn’t long before a new issue of a cooking magazine is splotched with stains from our kitchen. Rather than worrying about perfect archival condition, we often take them right out in the kitchen with us to use them for ideas while cooking.

Be willing to not follow the instructions to the letter. Most of the time, the ideas and projects in such magazines don’t perfectly match what we’re doing at home. A home improvement project doesn’t quite match up with what’s in our home. A recipe doesn’t line up well with our tastes or with what assets we have in our pantry. Use such ideas as a starting point and a reference and do your own thing – it’s incredibly rewarding and builds up your ability to improvise.

Save what has value – toss the rest. We don’t keep archives of most of these magazines. Instead, when a new issue comes in, I go through the previous issue, pull out ideas I might actually use in the future, and toss the rest. I often scan these pages and keep them electronically for future use, but you can just as easily keep them in a folder or two. It’s a lot easier to browse through 50 intriguing recipes than a thousand uninteresting ones with a few needles in the haystack.

Don’t just read – do. I wrote about mirror neurons a while back, but the basic principle holds here, too. Just reading about something can often feel a bit fulfilling and subtly convince you to not do it. Don’t fall into that. When you see something intriguing, do it.

Pick “project” magazines that align with things you do already. We like to cook, so we subscribe to a few cooking magazines. I like to tinker with electronics, so I subscribe to Make. There are lots of hobbies that we don’t engage in (even if they seem interesting), so we don’t waste our money subscribing to “project” magazines in those areas.

Don’t believe that magazines will change your behavior – they won’t. Carrying on with that previous thought, simply subscribing to a hobby magazine won’t convince you to start actually doing it. The desire to actually start doing something comes from within – external motivators and ideas only channel it in an interesting way. If you’re not already doing something, a magazine won’t help you start.

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The Christian Science Monitor has assembled a diverse group of the best economy-related bloggers out there. Our guest bloggers are not employed or directed by the Monitor and the views expressed are the bloggers' own, as is responsibility for the content of their blogs. To contact us about a blogger, click here. To add or view a comment on a guest blog, please go to the blogger's own site by clicking on the link above.

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Let me diet, but never make me starve

It is time for me to diet. But it is not my belt that is straining as my waistline expands (this time, anyway). It is my stretched rear pocket that is flapping as my wallet shrivels.

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This is the institutional blog of the Ludwig von Mises Institute and many of its affiliated writers and scholars commenting on economic affairs of the day.

Yes, I stretched my pocket a bit. You see, a little over a decade ago I fell for the exponential growth fallacy. Back then I believed that all rates compounded year over year as the market journeyed the New Economy’s Whig trajectory that is always upward and to the right. Of course, belief is not reality. And my math was way off. So it is time to adjust my consumption – to diet, so to speak.

Now when I say diet, I differentiate dieting or fasting from starvation. From a distance, a lack of eating is a lack of eating. But there is a huge difference between a diet or fast and starvation. The formers are actions by choice, the latter the result of conditions beyond one’s control. This is an obvious distinction that has significant meaning.

I used to love a hot, pounding shower; one where the bathroom mirror fogs and then sweats in broad streams. Actually, I still love them. But they are not longer part of my diet.

A month ago, I switched our showerheads from fire-hose blast to drought-stream trickle. Showers are no longer fun, they are functional at best. Of course, no diet is ever pleasant. However, the choice to switch was mine. And I can switch back whenever I choose (at least for now, anyway).

I may not be happy with this turn of events, but I am not angry either. No one is starving me. There is no gun barring me from my preferred action. I am doing this to myself – and my family, of course. In this instance, I am free, acting in order to satisfy my own personal ends.

You see, I am simply looking to reduce my expenditures. And just like anyone on a diet, I am choosing where and how to reduce. If I want the slice of cake then I will skip the dinner roll. If I want to gorge for a day, I can do so by going the extra mile or two (literally) during the following morning’s jog. All options are mine, as long as I understand that I live within the bounds of scarcity, as those bounds apply to me.

In addition to a long-term diet, I may desire to fast for a bit, reducing expenditures for the short term in order to substitute one want for another. Diet or fast, in either case, the choice is mine.

But not every change I have made, or will make, is based on my preferences. Many changes do not satisfy my desire to use certain means to reach specific ends. They were forced on me in a manner similar to how a diet (er, starvation) is forced on a political prisoner.

I like bright lights; the hot-bulb incandescent light that bathes faces and books in a bright, yet soft, yellow hue. When I looked at areas to reduce, I never considered fluorescent bulbs. Some will quickly rise to argue, “Fluorescent bulbs will save you money in the long run. Isn’t that what you are ultimately trying to do?” It is true that I am looking to reduce costs, so I cannot dispute that claim. But that is not the point. I am looking to balance my personal reductions with my subjective preferences – I am looking for the freedom to act in my own best interest.

In the very near future, the societal apparatus of coercion and compulsion will force me to substitute fluorescent for incandescent – I will be starved of light, so to speak. Certainly, I will have more money in my pocket, but that extra money sits well below my ranking for bright light. So the extra money will not offset my reduced wealth – I will be poorer.

Many times, folks see the end and forget the means. They believe that reducing the cost of energy required for lighting is a good thing. And just like dieters who pay for a weight-loss service, they do not mind outside intervention – they actually seek it out. So these folks do not object to government action to replace light bulbs. It makes sense – a personal end satisfied by a push and a prod, but a push and a prod in the right direction, from their individual points of view.

And I could argue that government should force everyone to switch to reduced-flow showerheads. What do I care? Such a switch would have no effect on me – a least until I desire to switch back. So government intervention would not appear to be the product of force. Government would be simply following my lead.

But a push and a prod directed at someone else, or an intervention that follows a lead, are not examples of freedom. They are instances of an expanding leviathan and a reduction of liberty. And every time the leviathan expands, it steals liberty from someone. And someday, that someone will be you.

Diet if you want, gorge if you so choose. But never advocate for government to force your ends on others. In spite of the view from a distance, starvation is not a substitute for dieting and fasting.

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The Christian Science Monitor has assembled a diverse group of the best economy-related bloggers out there. Our guest bloggers are not employed or directed by the Monitor and the views expressed are the bloggers' own, as is responsibility for the content of their blogs. To contact us about a blogger, click here. To add or view a comment on a guest blog, please go to the blogger's own site by clicking on the link above.

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What's fueling political attacks?

Apparently left-liberal pundits are convinced that people oppose government expansion either out of stupidity or cupidity—not, say, out of a sincere belief in freedom. The oft-repeated story is that ignorant and misguided masses are being led by greedy business interests. Paul Krugman’s recent column is one of many examples in the genre where billionaires intent on ravaging the country provide the bucks while clueless Tea Partiers provide grass roots brawn.

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A blog of the NYU Colloquium on Market Institutions and Economic Processes: A Modern Perspective on Liberty and Public Issues.

The best insight regarding this type of criticism comes from Thomas Sowell, whose analysis of two distinct visions of human nature puts current attacks into long-term perspective. Jerry O’Driscoll referred to this work in his comment on anti-intellectualism, a charge often levied by the same left-liberal critics.

In A Conflict of Visions: Ideological Origins of Political Struggles (published 1987, new edition 2007), Professor Sowell contrasted two fundamental views that go back several centuries. In one vision, each individual has inherent moral and intellectual limits, hence progress depends on institutions like markets to aggregate the knowledge of many and established morality to take advantage of the wisdom of past generations. In this tradition belongs Edmund Burke, Adam Smith, Friedrich Hayek and the US Constitution with its many checks and balances.

The other view does not recognize inherent boundaries to human intelligence and morality—the potential is limitless and while most of humanity is well below the maximum, certain individuals are so wise that they know what’s right for society. Jean-Jacques Rousseau, William Godwin, and the French and Russian revolutions exemplify this vision of unconstrained potential.

Ironically, the proponents of the unconstrained vision argue for greater equality yet favor intellectual elites with the requisite wisdom. Mr. Sowell quotes Ronald Dworkin: “a more equal society is a better society even if its citizens prefer inequality.” The citizens presumably don’t know what makes for a better society because they lack wisdom and virtue. Hence equalizing policies have to be imposed on them whether they like it or not.

This is not a theoretical issue. Notice, for instance, that the new medical entitlement law was passed despite widespread popular resistance. Americans will be obliged to get health insurance regardless of their preference.

By contrast, if you regard individual rationality as a limited tool, the difference between the intellectual elite and ordinary people is small and confined to specialty fields. Mr. Sowell points out that in this view, “there is no such general superiority as to justify one group’s restricting the discretion of others and acting as surrogate decision-makers for them.”

As a member of the elite, Professor Krugman certainly sounds like he’s sure of possessing limitless wisdom. He knows what’s right! So why would anybody take a political position that he dislikes? The unconstrained vision leads straight to the conclusion that opponents have to be dumb or venal.

In A Conflict of Visions Mr. Sowell shows the many ramifications of the two views but does not engage in criticism. He does that in other books, The Vision of the Anointed and The Quest for Cosmic Justice. Just to be clear, he’s not in the unconstrained camp and neither are most ThinkMarkets bloggers.

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The Christian Science Monitor has assembled a diverse group of the best economy-related bloggers out there. Our guest bloggers are not employed or directed by the Monitor and the views expressed are the bloggers' own, as is responsibility for the content of their blogs. To contact us about a blogger, click here. To add or view a comment on a guest blog, please go to the blogger's own site by clicking on the link above.

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Manage Your Household With Extra Care

Managing a household is not at all an easy task to perform. It also involves many complications that require utmost care and patience. To manage all the household chores along with the finances is no child's play. Family is definitely the first priority to every individual. Sometimes, all your wishes and desires take a back seat, probably when you are concentrating on your family, job, and other daily activities.

At times, it may get on your nerves when you see your family members have dumped all the household activities on you. With the inflation, swinging over your head, sometimes you discover that there is no money left with you to cover all the bills and other expenses. Many emergencies can crop up during this time, which will make you clueless. Managing such stresses can often take a toll on your health.

In such a situation, try to relax yourself and tighten your belt to handle things meticulously. Prioritize everything according to their importance. In order to do things in a proper manner, try to set deadlines for them as well as ensure you do them within the stipulated period. There is not much difference between a business and a household; both have their own risks and complexities that need precise solution.

Like in a business group, there is the board of directors playing the key role behind all the business activities. In the same way, you also consider yourself as the board of director for your family. Be sure and specific about your decisions and the things that you want to achieve from these decisions. Set your goals or mission including both the financial as well as goals related to your life. Although every goal would involve money, but it is also important to take care of health as well as of your family.

Keep a track on all the expenses that flows into the household activities. Make a worksheet that would include the average amount you spend every month. Businesses also prepare their budget based on historic costs patterns. Just in that pattern, you can also figure out your household budget and you can also consider making a cash flow statement by breaking the monthly expenditure in several heads and sub-heads. This will be a revelation to you, which will also help you to save the extra amount of money.

Like a business, you can also prepare a balance sheet listing all your assets and liabilities. Prepare your savings and checking accounts; trace out your investments in vehicles, homes and others. To predict the future scenario, businesses use a strategy called 'scenario planning', by incorporating this plan you can make smarter decisions on money. In this process, you have to pick on two things and compare them in terms of their advantages and disadvantages along with their affect on your flow of cash and net worth. This will help you to make good choices.

Just the way, businesses present their annual reports to their shareholders, you present your annual household report to your family. Share your accomplishments with your family members and thank them for their participation in the process. Money is a valuable tool in running a family. Give it its share of respect, as it is a powerful determinant of your family's fortune and well being.

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Creating a Monthly Budget is Easy and Rewarding

If you are looking for a way to cut costs at a reasonable, a monthly budget is for you. It doesn't matter how financially stable or in debt you are, everyone should budget their monthly income and expense. Budgeting promotes financial consistency and limits unnecessary expenses. Of the many methods to organize your budget, budget worksheets and online financial software are some of the easiest and best. They show on one document, spreadsheet, or computer screen all of you or your family's monthly spending and income. Do you find yourself scrambling for rent at the end of the month? Or are you stressed when you have mounting bills all do at the same time of the month? If so, a monthly budget is for you.

How do you avoid bad credit and debt? The first step is monthly budget planning. Budget worksheets, spreadsheets, software, and web-based budgeting tools like HelloWallet are reliable ways to see the amount you can save and the cuts you need to make to your expenses. If you are buying groceries at Whole Foods and in debt, you need to think smarter and harder about the long term implications. You may not be able to buy the right house or car because bad credit and debt can haunts those who don't take it seriously.

There are several ways to steer clear of debt, and one of them is through budget planners. Budget planners let you organize your income and expenses a lot easier than doing it yourself using monthly budget templates. Online budgeting software simplifies the process and advises you on the best step to make toward a goal. HelloWallet is one of these web-based budgeting planners. It instantaneously connects to your banking accounts, shows all of your spending in a clean format, and allows you to make customizable goals. Web-based budgeting planners do the thinking for you. Planning a monthly budget should not be a daunting task.

Online services make it all too easy to become financially independent and to set short or long-term goals. Short- term goals include buying a nice present for a friend or family member or dining at a fancy restaurant as a gift to yourself for spending less elsewhere. Long-term goals are more serious and overall more important (i.e. retirement, education, and vacations), but short-term goals help you realize that saving is the way to go.

Splitting up the fixed and flexible expenses shows you what costs can be avoided and cut from your budget. If you see on paper how much money each day your afternoon latte is and how much more money you could put away for a rainy day, you may start to bring coffee in to work. There are even easier options than writing it all down like budgeting software, and this choice avoid human error in calculations or forgetting to add an expense.

The more precise you are with your monthly budget the more you'll save in the end. You should identify everything that is being spent in a month and with the information right in front of you, you gain a better understanding of what you spend and make in a given month. Budgeting is key to a healthy and happy lifestyle.

The path toward financial safety is easy and rewarding. Budget planners make people aware of any pointless spending, while also keeping your eye on the larger goals like saving and staying away from debt. Every year another poll comes out telling us that the number one stressor is money. Every year some people decide that starting a budget is tiresome or too complicated, but they just don't realize how easy it is to manage money in the Internet era.

Rudiger Jackson is an expert writer in the personal finance software domain domain. He is quite knowledgeable on how to properly structure a monthly budget.

Fix Your Budget to Reduce Stress

Money is a big stress factor, no matter how much you have, or don't have. You worry about what you are going to do with your money, where you're money's going to come from and how you're going to pay this months bills. Money can be a cause of stress to single moms or stay at home moms because they are the sole moneymaker or can't contribute from employment to help with bills. 

Here are some helpful tips to combat it.

Budget

 

To manage your money stresses, you're going need to work out some money changes. This might mean that dreaded "B" word, budget. Being on a budget, and more importantly sticking to that budget should lessen the stress money is causing you.

Sit down and write out what you have. List the money coming into your home. The money you have coming in usually is not going to change, at least not immediately. Do away with unnecessary expenses like takeout food every week. That same money could have been used for a trip to the grocery store, which provides enough for food for several meals.

Get organized

Being organized will help you avoid money stress. Keep good, concise records for tax purposes and so you know how much is coming in and going out of your home or business each month. Set up a plan, stick to it and watch what's being spent. Take control of your bills and expenses. 

Start Saving

Another way to lower your stress about money is by creating and sticking to a savings plan. A savings account can be started with just five dollars a week. As small as that may be, when you really have an emergency you don't have to stress since you'll have the money set aside. Learn to cut expenses. Lower your thermostat a few degrees in winter and wear a sweater. Use energy saving light bulbs. Turn off lights when you're not using them. Take shorter showers. Find simple ways to lower the regular bills.

Barter for the things you need.

Learn to barter and trade. Look online for sites that allow you to trade old stuff you no longer need for stuff you do really need. Like trade your old stereo for children's clothes. If you can do a service, such as bookkeeping, or maybe you're a great cook, offer these services to a friend or neighbor who can do something in return such as fix your car or repair the computer.

Stock up on Staples

At back to school sales, stock up on paper and pencils. Look for good buys on socks. Stock up on canned goods when they go on sale. If you have the storage space, stock up on paper goods and bottled water. If you have a freezer, stock up on frozen foods and large portions of meats. Having your cupboards and freezer filled saves time, gas and money-all big stressors when you have kids.

Bargain Shop.

Reduce your money stresses by saving at yard sales and estate sales. Look for children's clothes at great prices. If you're an avid reader, you can often find boxes of books for as little as a dollar. Look for bargains at store and inventory clearance sales. Need a new sofa? Last years discontinued models are almost always a great bargain.

Find inexpensive ways to relax.

Read a book. Pop some popcorn and spend time with the family with a great movie. Rent a movie or visit your local library for DVDs you can check out. Have a cup of herbal tea while you meditate. Take up an inexpensive hobby. Knit, crochet, sew, or some other creative outlet. And who knows, you might enjoy it so much it becomes a new career. Write in a journal or blog to your online friends. Play a video game with your kids. Listen to mellow music.

Find more stress reducing tips at http://www.squidoo.com/stressnutrition

Budgeting and Debt Management

Debt management (specifically unsecured) is the first step to taking control of your money! Add a household budgeting plan and you've got a powerful tool for money management.

Together, budgeting and debt management build financial security and independence. Yes, you can reduce debt and save for your future financial security at the same time! It can be done.

Anyone can do it and everyone deserves it!

In fact, it's the only budgeting plan that makes perfect sense. Budgeting to include debt management in your personal finance plan builds a good strong defense against credit card use.

Unexpected events and expenses play a significant role in creating debt for most of us. A good budgeting plan that prepares you for those events and provides a strong foundation to fall back on is essential for successful debt management.

This is where most self-created budgets fail. Even the best intentions are doomed if you are you guilty of this common oversight? Without a complete plan, we fall right back into the old credit card trap. Feeling helpless and cornered into using credit to just make ends meet.

Free yourself from the burden of credit card debt. You will never be financially independent as long as you have to depend on the credit card companies to survive.

Quit investing in the credit card companies and start investing in yourself!

Yes, I know the feelings all too well. Barely making ends meet, budgeting chaos, struggling to maintain "everything's O.K." while finances continue to get worse and worse. Stop the feelings of inadequacy and failure!

In today's fast moving society it's not unusual for the average family to be living way beyond their means. With that in mind, quit blaming yourself. This is the world we live in. Many of us have gotten trapped by society's expectations.

I made the decision to stop the madness and help myself! You can too! A budgeting plan that includes managing debt will help you succeed at money management.

Create a plan based on your individual needs...set your own goals...and begin your journey to lifelong financial security and independence! After all, we all have different needs and obligations, so everyone's plan has to be designed to suit their unique situation.

The key to financial success is to live within your means!

The key to independent wealth is living below your means! But wait...we're getting way ahead now. After living way beyond your means for so long, it's hard enough to scale down to reality. Once you have that mastered, and see how much money you didn't even know you had, you'll be eager to scale down even more!

Debt management is crucial for any budgeting plan to succeed. And, likewise, a good household budgeting plan is essential for any debt management program to succeed.

One cannot be successful without the other. Like "peanut butter and jelly" most of us can't have one without the other. They just go together!

Cheryl Johnson is a mother of four helping herself and others become and remain debt free. Publisher of http://www.simpledebtfreeliving.com Simple Debt Free Living - A self-help plan, ideas, and resources for debt reduction, personal budgeting, frugal living, and extra income opportunities.

Vocation, career, and job: Which do you have?

Vocation. Career. Job.

Skip to next paragraph Trent Hamm

The Simple Dollar is a blog for those of us who need both cents and sense: people fighting debt and bad spending habits while building a financially secure future and still affording a latte or two. Our busy lives are crazy enough without having to compare five hundred mutual funds – we just want simple ways to manage our finances and save a little money.

Three different things that so often seem to overlap in our minds. However, when we let them overlap, we lose something valuable in the translation.

A job is simply any situation where you are paid in exchange for your labor. Nothing more, nothing less. Warren Buffett has a job, as does the cashier down at the local McDonalds.

A career is a sequence of jobs in a similar field that ideally lead to promotion within that field. I’ve had two careers in my life – The Simple Dollar is my second career.

A vocation is what you were born to do. It’s that point where your skills, talents, and interests intersect and you’re most able to change the world around you. Your vocation and career might overlap – or they might not.

Why the distinctions? I think we illustrate them best when we look at them pairwise.

Job versus career So often, we merely look at jobs as pieces of a career. When we move on from our current job, we simply look for the next step in our career path – or we look for the first step in a new career path, right?

Actually, neither one has to be true. A job is nothing more than a way to put income into your pocket. It only becomes part of your career if you choose to put that extra value in there.

Quite often, when people are in desperate need of income and are out there searching for work, they are so locked into continuing their career that they fail to look for a job. You can have a job without it being the continuation of your career. Instead, it can merely be the source of income while you search for that next career step.

Job versus vocation A job is nothing more than a way to fund a vocation.

One of my favorite images in that regard comes in the form of one of my closest friends in college. He had a job as a night cashier at a gas station near campus, where he worked from 10:30 PM to 7:30 AM about four nights a week.

At first, I thought this was terrible. It was just a dead-end job, and he seemed to be giving up so much of his college freedom for it. I decided to start popping in every once in a while to see how he was doing.

Every time I visited him, he wasn’t sitting behind the counter bemoaning his situation. Instead, he usually had a sketchbook with him and a set of colored pencils of various kinds. He would spend hours simply making sketches of the items on display there, mastering his skills of shading and perspective.

He’s now in graphic design, and I’d say that his time in the gas station was merely a job, a job that he recognized existed solely to enable his vocation.

Career versus vocation Right now, my career path is that of a high-throughput writer. I’m a blogger who posts two lengthy articles a day, plus freelance work, plus some independent projects. Those jobs all add up to more jobs in that career path.

My vocation, however, has only vaguely to do with what I’m doing today. My vocation is writing, but my career is only one particular flavor of that. There are many other areas of writing that I wish to explore as time moves on. I am drawn, with every ounce of my being, to someday write carefully crafted works of fiction and nonfiction. Not 5,000 word days where I’m trying to communicate several ideas as quickly as possible. Instead, more careful, nuanced, researched writing.

My career is connected to my vocation only in that it’s giving me the skills I need to explore that vocation more thoroughly. The career itself isn’t the end goal – it’s merely a piece in a much larger puzzle.

What does all of this really mean in terms of day-to-day choices? I think it boils down to asking yourself a few introspective questions.

First, how does my job actually play into my larger career goals? Many jobs certainly do lead to another career step. Some jobs do not. Know what you’re getting from that job beyond merely the paycheck – and understand what you’re willing to give in exchange for that.

Second, is my job enabling me to build towards my vocation? If it is, then use it. Use every element of your current job that you can to help you build a path into your vocation. If it’s not, then it’s just a way to put some money in your pocket as you seek a better result.

Third, is my career actually what I was meant to do? I can’t tell you the number of people that write to me when they’ve suddenly realized that their career isn’t at all what they want to be doing with their lives. The sooner you realize that, the better, because it gives you the time you need to begin thinking of your current job as merely a job rather than a career element. A job is something you use to move along in your vocation, whether it’s solely because of the income or whether other resources are at work in that equation.

One final thought: regardless of what you’re doing right now at your job, you can be working towards your vocation or building towards your next career step. In either case, if you want something great in your future, you’ve got to work for it, whether it’s in the form of hitting a home run in your work performance so you can move ahead or utilizing the resources of your job to help you build up the things you need for your vocation.

What’s it going to be? Either way you go, now’s the time to stand up and start fighting for your future.

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The Christian Science Monitor has assembled a diverse group of the best economy-related bloggers out there. Our guest bloggers are not employed or directed by the Monitor and the views expressed are the bloggers' own, as is responsibility for the content of their blogs. To contact us about a blogger, click here. To add or view a comment on a guest blog, please go to the blogger's own site by clicking on the link above.

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American Airlines brings back 800 employees

DALLAS

American Airlines is recalling about 800 furloughed employees, about 1 percent of its work force, as it adds flights on international routes.

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CEO Gerard Arpey announced the jobs as American launched a new trans-Atlantic business with British Airways and Spanish airline Iberia. American is working on a similar alliance with Japan Airlines across the Pacific.

"This is exactly the kind of growth we're looking for, and my hope is that trends like this will continue," Arpey said at a news conference in London.

Arpey said that a recent rebound in business traffic and growing signs that the United States would avoid a double-dip recession were encouraging to the airline industry, "but I would have to describe the recovery as fragile."

American will recall 250 pilots starting in November and 545 flight attendants starting this month. The airline last recalled pilots in 2009 and flight attendants in 2008.

The moves will reduce the number of furloughed pilots at American to about 1,730 and out-of-work flight attendants to 805, the company said. American has 73,000 employees, including 7,800 pilots and 14,755, according to a spokesman.

American Airlines President Thomas Horton said the recalls were partly the result of increased international flying, especially out of New York's Kennedy Airport.

Traffic on American Airlines rose 5.6 percent last month compared with September 2009. The biggest increases were on international routes.

The news on jobs came as American, BA and Iberia announced four new routes as part of their joint business venture. They said trans-Atlantic flying would bring in $7 billion to $8 billion in annual revenue between the three.

The airlines received approval from U.S. and European regulators to work together on setting prices and schedules, which otherwise would violate antitrust laws. The airlines said they will finally be able to compete fairly with other airlines including Delta, Air France-KLM, United and Lufthansa, which already enjoy immunity from antitrust laws on international service.

British Airways combined with Iberia this year to create Europe's third-largest airline. While Wednesday's service alliance lets BA and American create a virtual merger of their trans-Atlantic service, an actual combination would be barred by U.S. law, which strictly limits foreign ownership of U.S. airlines.

American, BA and Iberia have placed code-shares on more than 2,600 additional flights, meaning travelers will be able to buy tickets for all three airlines on any of the carriers' websites. The airlines say this will give passengers the ability to shop for cheaper fares and more flights.

Shares of American parent AMR Corp. rose 8 cents, or 1.3 percent, to $6.19 in late morning trading Wednesday.

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Personal Budget Planning Tips

Your personal money management is the key to your financial success; your method of reaching your goals and dreams. No one likes the term budgeting, but without it, you won't know if you are getting the most from your income. Everyone wants to pay all their bills on time. Successful debt and asset management is a source of pride and of good credit. All of us want good credit whether we use it or not. Unless you have unlimited funds to spend however you wish, you will need a personal budget to pay off debts. Budgeting your money can be a difficult process.

In order to create a household budget, you must include all your monthly and yearly bills. You must also include your spending money, savings goals, and retirement funding. It doesn't matter how much money you make; it's how you spend it. A personal or household budget will help you make payments on time, provided you follow the plan.

When you don't follow a debt management program, your debt may overtake your income and then you are forced to make late payments on bills or no payments at all because you don't have the money. You can't just spend money and hope you have enough for your bills. You must spend within a budget.

You can prepare a budget by using budgeting software on your computer. The program will ask you the same questions that a personal finance advisor asks during a financial planning interview. The questions concern your expenses, your spending habits, and retirement goals. They may include tips on debt consolidation and reasonable cash flow. Or you can choose a financial planner to help you with your personal finance concerns.

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Budgeting Tips For Finance

All of us would like to make our wealth-stocks grow by suitably adjusting our income-streams. Indeed, household budgeting is crucial for guaranteed financial independence and security for any family. This is where personal finance planning comes into the picture. Planning one's finances and budgeting money and other assets generally refers to the creation of a plan in which these assets should be utilized. Personal finance issues can often become rather complex, particularly if proper financial planning has not been done.

Professional financial planners suggest several steps for effective personal finance planning. Following these steps in a prudent manner can easily help individuals to add to their wealth-stock, and prevent them from the pitfalls of debt-traps. Some of these steps for managing personal finance are:

Calculate your disposable income - How much money do you actually have to spend? This figure can be arrived at by deducting all taxes and other obligatory payments from the total income level. You need also be aware of such payments that have to be made more than once a year. A clear picture of the level of personal disposable income helps one in properly budgeting money stocks, and to spend accordingly.

Classification of expenses - Personal finance management requires that expenses should be classified under different heads. For example, while electric bills, and water taxes come under utility expenses, child education, money spent on one's own clothes, and other recreational purposes are classified as personal expenditure. A separate fund (termed, the contingency fund) need also be set up, out of which all unforeseen medical and other emergency expenses can be sponsored.

Listing your debt items - Every family has certain specific debts which need to be periodically cleared up. Household budgeting experts recommend that these debt items should be listed in a systematic manner. Credit card bills and such other regular payments make up the majority of these debt figures.

Expenditure goals - Proper finance planning needs individuals to be aware of the exact reason behind each expense. For example, while estate planning or retirement planning can be put under long-term expenses, buying a new car or other household appliances are classified as short-term expenditure. You should also identify the expenses that are on luxuries, which are avoidable. Money budgeting can be effectively attained by eliminating such unnecessary expenses.

Finance/ personal planning is necessary to identify how and where money is actually being spent. You can determine how to spend your income by classifying expenses under different heads, and managing your personal finance issues. Household budgeting, if done in a wise and informed manner, can help individuals increase their savings by significant amounts.

Are you looking for a financial professional, but not sure how to choose one? If you don't have the time to conduct a thorough research about financial advisors, fill out a short form and let our advisors contact you. Our experienced consultants will send you the names of advisors who are qualified and willing to help.

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Fiscal 'State of the Union'

The President shall, by the first Tuesday in October, address a joint session of Congress on the Fiscal State of the Union.

Skip to next paragraph TaxVox

The Tax Policy Center is a joint venture of the Urban Institute and Brookings Institution. The Center is made up of nationally recognized experts in tax, budget, and social policy who have served at the highest levels of government. TaxVox is the Tax Policy Center's tax and budget policy blog.

Those words are not in the Constitution or any federal law, but they should be. The president should be called on the carpet at the beginning of every fiscal year to explain what specific steps the administration is taking to improve the fiscal health of the nation, at least until the debt reaches a sustainable level. If the administration believes that such steps would not be prudent, the president should be required to explain why.

A bipartisan blue ribbon panel proposed an annual fiscal address as part of the excellent National Academies report, Choosing the Nation’s Fiscal Future (pp. 200-201). The report lays out four paths towards a manageable debt burden (one with high taxes and high spending, another with low taxes and spending, and two intermediate scenarios). But I think its single most important recommendation is creating a modicum of presidential accountability.

Why would a presidential speech accomplish what several blue ribbon panels and much handwringing in the wonkisphere have not?

Because a presidential speech to a joint session of Congress is a big deal. The president’s report on the state of the union, mandated by the Constitution, only became a major news event when President Wilson decided to deliver it in person. Now the weeks preceding the State of the Union Address produce a flood of news stories about what the president might or might not announce, abetted by strategic leaks from the White House, and even some analysis of the actual state of the union. The speech itself is covered live on network and cable television and analyzed and reported upon for several days after delivery. It becomes a focal point for discussion of the administration’s accomplishments and failures, as well as a chance for the opposition to publicize its point of view.

It is news and it captures the public’s attention, at least for a while.

The problem with our fiscal challenges is that they aren’t news. We have a large unsustainable debt burden, just like we did yesterday and the day before and will have tomorrow. It’s news when we run exceptionally high deficits, as we have for the last couple of years, or when we achieve surpluses, as we did briefly at the end of the Clinton Administration. But there’s no event that captures the media’s and the public’s attention, and the problem will only grow worse as giant deficits become old news. There’s little chance for the media to educate the public about the debt and possible solutions.

An annual Fiscal State of the Union Address would change that. There would be news coverage. There would be serious discussion of the causes, consequences, and possible remedies to the problem of too much debt. There would be pressure on the president to have some good news to announce as part of the speech, and enough media scrutiny to guarantee that it wasn’t just smoke and mirrors. There would be pressure on the opposition to put forward a coherent plan to do better than the president, not just warmed over rhetoric and platitudes.

Politicians will never seriously address the debt until the public demands that they do so, but the public only focuses on an issue when the media signals that it is important. The Fiscal State of the Union would become a media event and focus the public’s attention. It might not be the solution, but it’s a start.

Happy Fiscal New Year.

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The Christian Science Monitor has assembled a diverse group of the best economy-related bloggers out there. Our guest bloggers are not employed or directed by the Monitor and the views expressed are the bloggers' own, as is responsibility for the content of their blogs. To contact us about a blogger, click here. To add or view a comment on a guest blog, please go to the blogger's own site by clicking on the link above.

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The Value of a Home Budget

There are several points that will influence our financial lives, but possibly absolutely nothing influences our funds and our fiscal future very as significantly as a practical and correctly adopted household budget. All as well handful of us have learned how to price range properly, and this failure to develop a household spending budget can lead to all method of monetary ills.

A single of the principal motives so numerous of us fail to generate a budget is that we sense that developing a funds is overly complicated. In reality, producing a funds does not have to have to be at all difficult. Producing a spending budget can be as simple as writing down each and every cost and retaining monitor of it for a month.

The best way to do this is to carry close to a basic budget sheet, which can be as basic as a little notebook. Into this price range sheet, write each and every item you obtain, from that morning cup of java to the muffler on your vehicle. At the finish of each and every week, enter this budget data into your favored spreadsheet or budgeting program, assigning each cost a class as you go. This straightforward method will make it a excellent cope easier to preserve monitor of your bills heading ahead.

Often this easy funds physical exercise is a good eye opener for customers, and a excellent way to recapture dollars that has been leaking out of your pocket. Following all, that $four everyday cup of caffeine may well not appear like very much, till your spending budget exhibits you that forgoing it by generating java at residence could save you over $100 per calendar month. Individuals weekly dinners out may not appear like that big a deal, till your price range exhibits you where you could lower again without having impacting your lifestyle.

The usefulness of the month-to-month budget is countless, and understanding wherever your funds is coming from, and wherever it is proceeding, is an essential very first step when it comes to obtaining a take care of on your finances. Till you take the time to set up and stick to a reasonable budget, you may well be unable to get a accurate picture of your financial situation.

There are numerous items families and people can do to boost their fiscal circumstance, from landing that promotion to taking on a 2nd work. Number of issues will provide as very much energy, nevertheless, as lastly sitting lower and creating that home budget. The price range is the most simple of all economic documents, and it is crucial to acquire the bull by the horns and get that price range underneath manage. Making a budget is not easy, but the rewards are fantastic.

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Lonely stadium seeks pro sports team for long walks on the bleachers...

The Sprint Center in Kansas City was built partly to attract either an NBA or NHL franchise. Three years on, the gleaming arena has no major sports tenant. The Kansas City Star has an article on the lack of a major sports tenant and what some would like to do, or not do, about it.

Skip to next paragraph The Sports Economist

The Sports Economist is produced by a group of scholars who apply economic thinking to sports. Sports provide an entertaining and unique canvas for illustrating economic forces at work. We try and lend an assist to that at TSE.

Is sufficient demand to warrant having an NBA or NHL team in KC? I’ve always sensed that Kansas City is very good city for sports. But the market already is served by three major college basketball and football programs. The University of Kansas Jayhawks play their home games in Lawrence, KS, roughly 40 or so miles from downtown Kansas City. The Missouri Tigers play their home games in Columbia, about 120 miles away from Kansas City and the Kansas State Wildcats play their games in Manhattan, KS, also about 120 miles from Kansas City. All three schools have a large alumni presence in the city and the city often hosts Big XII championship events.

Then there are the very popular Chiefs, the struggling Royals, and the MLS’s Wizards. Do all these sports teams serve the market inefficiently in some sense to make it worthwhile to have another sports team?

Basic economics tells us that if a potential owner could generate profits by locating a team in KC, then someone would try to do so. But the reality is more complicated because of the closed nature of American sports leagues. To get a team in a new city in the NBA, whether by expansion of moving an existing team, the rest of the league’s members have to vote on it. The same goes for the NHL. Club theory tells us that if a sufficient number of the league’s members aren’t made better off by having a team in KC, regardless of whether it is profitable to its ownership, then a team won’t be placed in KC. Of course it has to be profitable to its ownership, but it has to be profitable to the other league members as well.

The article also raises the point that there are opportunity costs with having a sports anchor at the Sprint Center: playing sports events there takes dates away from other events which also provide value to the good folks in Kansas City. What’s more valuable: a Rush concert or an NBA game?

This brings me to a point that isn’t usually made about facility subsidies in sports, at least not directly. Who can better decide how to allocate resources: politicians or the citizens? Ignoring whether the arena should have been built in the first place, should politicians determine who plays in the arena or should it be left to “the market” to decide? Are our elected officials benevolent social planners – all-knowing, all-powerful, and well-intentioned – that will “do the right thing”? If not, then why trust them with fiddling with the market for entertainment in KC?

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More Strategies For Household Savings

We're all in the same boat nowadays. An ever worsening national economy has seen prices for most everything rise seemingly by the day. It's not just gas - though the global oil shortage has much to do with associated cost hikes. Even food manufacturers and distributors are suffering through tough times and must raise prices. Fact is, we are experiencing an inflationary period similar to the Carter years, and most American heads of household (weaned through the unprecedented expansions of the 80s and 90s) don't know how to handle the current financial paradigm. We've become so accustomed to consumer debt and carefree purchases that we no longer even understand the notion of spending discipline.

Nevertheless, as unemployment continues to rise and property values continue to fall, most families now recognize that something has to be done to halt the endless reliance upon credit cards. The quickly growing mountain of personal debt amongst our citizenry, after all, has much to do with the problems facing our national economy, and most economists agree that things shall not get better any time soon. It's time to tighten our belts and face the music.

There's a number of obvious solutions to household budgeting that shouldn't need to be explained. Take account of family spending habits and cut back where needed. Clip coupons and shop, whenever possible, at bulk markets that offer bargain pricing - though not before making sure you aren't buying more than your family can use. Trade down your vehicle for something with better gas mileage. Avoid expensive vacations. Do not presume things will improve.

For this article, we asked a variety of different consumers across the nation for their own saving strategies midst these trying times. Most, once again, were rather obvious (the Sports Utility Vehicle would be a poor idea; purchasing necessary household goods at a fraction of cost from estate sales would be an excellent one) or too personal to the specific consumer (a wood stove for those three weeks of relative frost may make sense for Sacramento but would not well serve our readers up north), but a number of their suggestions were actually quite helpful. In the following piece, we have compiled the most helpful tips so that all may benefit from practical solutions to our spiraling economic crunch.

Insure Savings!

To be sure, especially with so many Americans foregoing necessary check-ups and doctor visits because their employment (and government) do not sponsor preventative treatments, we don't suggest that anyone avoid paying for health insurance. For many American families, that should - reasonably! - be one of their largest monthly expenses. At the same point, the costs of many other insurance plans may be overly protective or, in many cases, not needed at all. Life insurance for bachelors might have made sense your grandfather's era, when one needed something to borrow against later in life, but, this age of instant credit availability, there are better investments. Similarly, too many vehicle or home owners are tricked into absurd premiums to off-set negligible deductibles. Think of it this way - how often do you crash your car? Wouldn't saving a hundred dollars a month within a creditable program clearly make more sense than paying an extra hundred dollars a month just to avoid another thousand dollars should the worst happen?

Phoenix, Arizona's Mr. Jean Papillcoch told us: "An old buddy sold me on this car insurance package. Seemed great at the time - collision, theft, even took care of me personally if I was in an accident. And, you know, you get used to just paying the bills, but I haven't driven that car in over a year. Just money down the drain. The wife finally saw the paperwork, showed me what I was actually paying for, and ... I don't even have a boat."

Drink Responsibly!

The problem with many household budgets is that they do not take into full account what family members actually spend their money on. That daily can of Diet Coke after the gym (more about that later) and morning cup of Machiatto would actually be greater than most families' electric bills once added up. Alcohol, as well, has it's own diminishing effects upon personal economy, but most oenophiles insist the distinction between a well researched four dollar bottle of wine and the average supermarket find for twenty dollars would barely be noticed. Simply by carrying thermoses or using the office blend, buying generic sodas from bulk discount stores, and choosing taste over label provenance, consumers can easily save thousands of dollars each year!

Mrs. Lisa Munnepenne of Fairbanks, Alaska reports: "It felt weird, the first time, just walking by the Starbucks on the way to work. I mean, I could feel the people behind the counter staring at me. It wasn't like they waved or anything, but I did feel like I was snubbing them or something. And, Monday morning, the coffee at work tasted just exactly as bad as I thought it would. But, you know what, by Friday, I couldn't even tell the difference! I didn't notice at all. Actually ... actually, it was exactly like my first week at work."

Eat In!

There's so many excuses. The kids want pizza. We have so few hours alone. I'll make lunch tomorrow. Much the same as with beverage choices, convenience and brand labels control consumer shopping patterns to a ridiculous and inevitably debt aggravating degree. Office workers and young professionals spend too much of their income upon dining out. They might blame a lack of time or wherewithal, but all it takes is a change of habit. Most people actually find that they enjoy their time in the kitchen, and the eventual meals prepared are not only more healthy but, since they're precisely to the tastes of the chef, genuinely more rewarding. And, regardless of the protestations of fast foodies, home cooked meals are always more affordable.

Mr. Raj Meekaaf; Kalamazoo, Michigan: "There was this café right next to our building, had the best breakfasts, and, even when times got tight, I wouldn't give it up. Some mornings, that was the only reason I got out of bed. That's what I thought, seriously. After the firm went under, I had to start cooking for myself. Turns out - food isn't nearly as important as you might think."

Invest In Savings!

This is a tricky aspect to treat in limited space. We, obviously, would not advise against well thought out investment strategies - though most employees of larger firms should take advantage of 401k plans should their company promise to match funds. At the same point, too many consumers gamble their money away with representatives of internet speculators that, in all likelihood, have neither the training nor experience to accurately vouchsafe their client's funds. Even for those web sites that do maintain an attractive rate of return, most of them simply refer business to one of the larger mutual funds accounts - while collecting an extraordinary percentage for transactions that can literally be done by anyone within twenty seconds. Over the course of a lifetime's investment, these transaction costs can climb to tens of thousands!

Ms. Jessie Williams; Lake Osakus, Minnesota: "I run a home business, and the business has done pretty well in the last few years. Seemed time that I should start thinking about investments, and - I don't know anything about that. And, also, I live in a rural area, there was nobody in my town that I could talk with, so I started up with one of the on-line firms you see on the TV commercials. After a few months, I started to get the hang of it, and I thought to myself - 'why am I paying three percent of every trade just so these jokers can push a few buttons?' No complaints with the service, they treat you like a princess, but is that me?"

Drugs Are Drugs!

Generic brands have always been a source of comedy - well, for as long as there has been advertising; wasn't that long ago that every commodity would've been considered generic. Still, for folks that watch the commercials, bargain priced staples or supplements of even necessary medications are something for the poor folks. Understandable that a century of advertisement has prized brand loyalty for consumers, but, once something - especially medication - has been approved for sale by the Federal Drug Administration, there is no reason Americans should doubt quality. Many pharmacies and hospitals benefit from the largesse of medical sales reps and have good reason to promote one brand above another despite demonstrably equivalent results and a sharp reduction of price.

Mr. Bryan Shadd; Fargo, North Dakota: "My doctor had recommended this pharmacist. You have to follow your doctor, am I right? Took me two years to finally wise up and listen to my friend about his friend and this cheaper way of going about things. Same drugs. Absolutely the same. Maybe they come from Canada or wherever. Should I care where they come from? Should I care who's selling? They're half the price, that's what matters."

Give It A Day!

Habitual spendthrifts should not carry around credit cards. Before deciding anything of permanence (romantic issues, perhaps, aside), consumers should always take advantage of the "rain check" option offered by most stores or realtors or dealerships. A waiting period is simply necessary for a concerted effort toward efficient and reasonable household finances. If, after two days, you still want to make the purchase, the truck or television or suit will almost always still be available. Honestly, for families concerned about maintaining a budget, anything over seventy five dollars should enforce a twenty hour minimum for studied consultation. You'll find that, often as not, the product in question does not really seem that important after all.

Ms. Sally Falk; Chicago, Illinois: "I used to be an impulse shopper. I mean, IM-PULSE! Whatever I saw, I just had to have. Right! Then! And, just waiting out two days, like they said, I found ... ehh. I mean, it was like I just totally changed minds."

Keep On The Grass!

This will be of less service to our more urban readers, but one of the first suggestions from financial analysts in suburban communities is simply for homeowners to mow their own lawn. On average, property-owners spend over five hundred dollars a year just on lawn maintenance! In the nicer residential communities, even though the homeowners themselves may be crippled by financial burdens, topiary costs can reach five figures. In part, this is meant as an object lesson by debt professionals: you reap what you sow and you should bear the brunt of your vanity.

Mr. Jon Hansom; Corvallis Oregon: "We've a pretty big spread in the back, and, this fellow comes around, has his own mower, I figure, sure, it's worth a few bucks to help a guy out and save the sweat off my back. Then, before you know it, I'm paying him to mend the fence, bury the chickens - we have a few chickens - and his girlfriend's babysitting the kids while we go out to eat. End of the month, turns out we owe them more than we owe the electric company. I'm worried my wife's gonna think I've gone crazy."

Call It Quits!

Do you even know anyone under forty who maintains a traditional telephone service nowadays? With the sudden ubiquity of cellular service and seeming necessity for digital internet, a generation might not even recognize the entire concept. At the same point, the average monthly stipend for cell phone nears eighty dollars a month - or, to put it more plainly, nearly four percent of the average American's gross monthly income. They are, to be sure, helpful conveniences and some people (largely, cell-tower repairmen and that Verizon guy) genuinely require them for their work. For most of us, though, the money could be better spent. If the mobile is honestly integral to your work, then there is no reason to maintain long distance service at home.

Tim MacMurray; London, Ontario: "I just realized after a certain point ... I mean, if I'm already out, why do I need to talk to someone else? It's just dumb jokes or 'hey, call me back'. I can't talk to anybody when I'm at work. Why do I need a cell phone? What's wrong with land line?"

Lights Out!

This, perhaps, is the least needed lesson. Most every commercial these days advertises the need of light bulb efficiency, sweaters in place of sweltering winter heating, any small change needed to forestall global warming. Still, a regrettable number of our countrymen refuse to acknowledge both the coming energy crisis and their own culpability - not to mention their own sweeping debt loads. Just making sure that all unnecessary appliances have been turned off and that (though it may take an uncomfortable hour to warm up afterwards) the heat has been turned down those long weekends out of town would save the average American an estimated three thousand dollars a year. And, y'know, help save the planet for their grandchildren.

Mr. Jack Trevors; New York City, New York: "Took a while to sink in. I'm the kinda guy that used to leave the TV blaring, lights on, whatever, when I left the house. Then, bills start running tight, you start thinking about where the money's going, where your priorities are at, and you end up making a change. That last summer - seemed like we didn't use electricity almost at all."

Friends Don't Let Friends Spend!

One of the more unfortunate consequences of budget maintenance may be (temporarily, we would hope) distancing yourself from acquaintances with either more money or less regard to their emerging debts. Many analysts proficient in personal economics would counsel the newly thrifty to spend their time and money with only those friends engaged in similar cost cutting measures. Seems a bit harsh, we know, but those worthy of lifelong allegiance should understand that you are attempting to plan for a brighter future.

Mrs. Pauline Merriam, Au Claire Wisconsin: "Awful hard time, about two years back, we'd just left California and had to depend on some old friends that were themselves barely scraping by in Chicago. Once we explained that we just didn't have any money ... there were looks, of course ... why, the people we were staying with didn't ask for anything at all whenever the check came around. And we're friends to this day! Just goes to show."

Don't Mail It in!

To be sure, anyone that's worried about even the annual postage costs for their various debts and utility payments likely has greater issues than we could possibly aid through glancing at this article. However, there are other issues at play advising the advantages of electronic payments well beyond the cost of stamps. For one part, individuals can request a small percentage of their checking balances to automatically be moved to their investment accounts every month - thereby tricking capricious spenders towards helpless savings. For another, the definitive separation between business and checking accounts dramatically aids tax accountants when preparing deductions and defending against potential Internal Revenue Service audits.

Beyond which, most every creditor and utility now actively assists electronic transfers and virtually every utility will literally reward consumers for automatic payments (often, banks will as well) set up through their personal or business accounts. They won't be large rewards, five dollars a month at most for the gas bill, but that could equal a free month of gas for consumers willing to spend the extra ten minutes setting up such a plan. Beyond even that, automatic payments stop the risk of late fees from forgotten bills or mistakenly posted items. This day and age, there's really no reason anything besides mash notes and a grandparent's birthday card need be sent by the US Postal Service.

Mr. Marc Duper; Danbury, Connecticut: "Honestly? I have not mailed a check to anyone in over ten years."

Find Your Own Fun!

From premium cable services to movies every Friday, Americans somehow believe they are entitled to historically unprecedented entertainment upon whim. This should not be thought of as a utility. Humans need shelter, food, water, (for some cultures) clothing, and little else to survive. Western civilization has taught the importance of education and hard work for satisfied lives. Avoidance of pressures through the exploits of better looking others rarely enables self growth. Even gym memberships, where personal trainers are highly paid to force their clients toward labor, would seem ridiculous to past generations. Leave the HBO and family fun nights aside. Use the library. Start running in the park. Start managing and settling your debts. It will be a long life, and a better one can start right now.

Larry Brattner; Colorado Springs, Colorado: "There was a period, right after college, where I think I went to the theater every night. Didn't really help anything. Liked some of the movies. Most of them were crap. In no way did it help me save money or pay down any of my debts. Do I miss those days? Not. At. All."

For more information debt management on or if you need immediate debt relief please visit debtrelief.us.com

Use the debt calculator to see how much debt you can eliminate.

Finance Management - Budgeting Money

Financial management is concerned with procurement and utilization of spenditure in the correct way according to ones financial situation, while Financial management is critical for the greater success of businesses and organizations it is equally important to implement financial management into our personal lives. Learning how to become financially disciplined and how to budget money wisely is vitally important, being financially disciplined plays the largest roll and is something not all people manage that well, however there are several methods and hundreds of computer programs that can assist you, Many people need visual aids to monitor and track their progress and in this day and age with just about every household having a computer now is the perfect time to start implementing finance management techniques. Budgeting money is also a grey area for many people and again there is plenty of help out there if you know where to look, in recent years more and more people are turning to digital budget planners (finance management software) to help budget money and plan for a brighter future.

Budget planners via the way of computer software can help you keep track of your funds, most budgeting software these days includes digital graphs which really help people manage their funds, seeing which areas your money is being distributed to via graphs improves ones understanding and mental process, this method really improves your chances of successfully budgeting money.

Here are some tips that you can put into place to help budget your hard earned cash

Tip #1: Opening a savings account or a term deposit bank account is quite popular these days, however with term deposit accounts you must ensure that you can meet the required minimum monthly deposit or you Will forfeit your interest rates that were agreed on when opening this account.

Tip #2: Working out where you should spend your money, wants and needs are two different things entirely, if you can draw the line between wants and needs you really can start saving money a lot quicker, for example that sexy dress you would love to purchase is not a necessity when you already have a wardrobe full of dresses.

Tip #3: Setting goals will go a long way to helping you learn to budget your money, for example rather than purchasing a new television with your next pay cheque is not going to help, if you set a goal to purchase this television in 1 month or even 2 months time, not only will this ensure that you still have extra money each week this will also teach you the art of financial discipline.

Making small personal goals and sticking to them even if they are small goals at first you can then implement this theory into larger ideas, you will gain much more than just financial discipline you will also gain self satisfaction from what you have accomplished.

I am an author for the Finance Management website, we provide many useful articles and tools related to finance management to help our readers become financially independent and provide a brighter future for their selves and their families.

Lisa - author of http://financemanagement.org/

Entrepreneurial advice from Dave Ramsey

This July 29, 2009 file photo shows financial guru Dave Ramsey in his broadcasting studio in Brentwood, Tenn. While best known for his advice on personal finances, he recently addressed entrepreneurs on how to start a business in the current economy.

Josh Anderson / AP / File

Enlarge By Jeff Cornwall, Guest blogger / October 6, 2010

I had the pleasure and honor of interviewing Dave Ramsey for Insider's View, a show that runs on Tennessee Public Television, in front of an audience of about 600 students. We talked about his own entrepreneurial experiences and his advice for others on their entrepreneurial journeys.

Skip to next paragraph Dr. Jeffrey R. Cornwall

Jeff is the Jack C. Massey Chair in Entrepreneurship and Director of the Center for Entrepreneurship at Belmont University in Nashville, Tennessee.

Here are a few summary highlights:

Pursue only opportunities you have a passion for, as "entrepreneurship is a tough boss."Don't give up. The most successful entrepreneurs are those who work hard, learn from their mistakes, overcome adversity, and adapt to change.Goal should be to have six months worth operating cash on hand in your business.Grow your business without debt. Period.When you are able, take some money out of the business to make sure to diversify your personal finances. Don't let it all of your personal wealth ride on just your business. I teach my students the 1/3, 1/3, 1/3 rule of net business cash flow. Set aside 1/3 for taxes, put 1/3 back into the business to grow, and use the final 1/3 to first pay down debt (if you have any) and then to give to yourself once debt is taken care of. That last third should be used to diversify your personal wealth, and not just to spend on stuff.

Dave said that there has never been a better time than now to be an entrepreneur. Out of the disruptions in the economy comes opportunity.

He is worried about the push toward socialism in this country, but confident that the American entrepreneurial spirit will persevere.

(Thanks to the Curb College of Entertainment and Music Business at Belmont University for inviting me to conduct the interview).

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California Gov. Arnold Schwarzenegger on Thursday honored Victor Perez, the man behind the improbable car chase that resulted in the recovery of an 8-year-old girl abducted in Fresno, Calif. 'This guy is a true action hero,' said the governor. Here is his story and the stories of three other everyday heroes who responded to trying circumstances with extraordinary grace or courage.

Global News Blog The Vote

Leanne Sarco is a ranger at Grand Isle State Park, located on a barrier island off the coast of Louisiana. When the oil spill closed beaches and canceled her job running a summer program for children, she asked her boss if she could rescue hermit crabs instead. Her effort attracted volunteers from far and wide.

She recruited Facebook friends to save Gulf Coast's hermit crabs.

When park ranger Leanne Sarco saw oil-covered hermit crabs on the Louisiana beaches, she started her own project to clean and save them.

View the original article here