Wealth Building Tips: Manage Your Money

As someone who loves to shop, enjoys holidays and owns way too many pairs of shoes, managing my finances is definitely something that does not come naturally to me, I have had to learn. Managing your money is so important in becoming more organised, less stressed and more productive in your life ? you'll be amazed at what you can achieve with your money when it starts working for you, rather than you always working for it!

Seek advice. It's funny how most of us will go to experts for help in so many different areas of our lives, but we seem to think that somehow managing our money is something we can tackle for ourselves ? usually when all evidence is to the contrary! Look for a financial planner or accountant who can help you set a course for your financial future ? you'll identify your future financial goals, get real about your budget, set up investment strategies that will help you to achieve your goals ? and you'll wonder why you didn't do it sooner.

Budget is not a dirty word! I know for many people 'budget' and 'diet' are in the same category, but a realistic budget is a phenomenally powerful financial tool and is imperative if you want to take control of your money (budgets can, and should, leave room for money to have fun with and to reward yourself with for all of your savings efforts!). If you find establishing a budget difficult to do (or to get motivated to do) on your own, seek help from a financial professional or even a friend, colleague or family member who has it all together financially.

Keep track. Keep a written record of every cent you spend for 30 days to see where all your money is really going. This activity serves a number of purposes ? firstly it probably shocks you into reality and secondly, it helps you to identify categories of spending which you'll need to include in your budget. Remember, keep track of every single cent?at the end of the month, if you're spending more than you're earning that'll be a good indication of where some of your financial stress may be coming from!

The big picture. As well as looking at your day-to-day spending, estimate your annual expenses by looking at all of your regular bills and financial commitments and totalling that amount for the whole year. Once you know what your total fixed liabilities are for the year, divide that amount by 12 for a monthly figure. This is the amount you should be putting away each month just to pay your bills.

Keep on top of it. Review your budget weekly ? this is a great habit to get into and helps you to keep on top of where your money is going and to quickly identify areas where you are spending too much ? it can be quite an eye-opener! You might create a spreadsheet to enter your income and expenses into and to keep as an ongoing record.

Credit or charge? Change your credit cards for charge cards that you pay off in full each month. Knowing that you'll have to pay it off at the end of the month is a great motivator to help you get past those impulse purchases. If you do want or need a credit card, keep your credit limit low to help stop you from spending too much.

Go online. Bank fees and charges are one of those small expenses that don't seem like much each time, but they can add up. You can easily avoid them by changing your banking habits. Online banking is ideal; it's cheap, convenient, reliable, saves you time and helps you to understand your financial position 24-hours-a-day.

Keep your receipts. How many times have you wished you kept the receipt ? whether it's so you can return or exchange an item or claim it on your tax? Set up a simple receipt filing system ? it doesn't have to be complicated, perhaps just an alphabetical file ? and you'll be able to find anything you need without the stress.

Tax time. Keep a separate file for your tax receipts and other documents relating to your annual tax return. This will save you from the frustrations at the end of the financial year and help you (or your accountant) to make sure you maximise your chances of receiving a tax return.

Neen is a Global Productivity Expert: by looking at how they spend their time and energy ? and where they focus their attention ? Neen helps people to rocket-charge their productivity and performance. A dynamic speaker, author and corporate trainer, Neen demonstrates how boosting your productivity can help you achieve amazing things. With her unique voice, sense of fun and uncommon common-sense, Neen delivers a powerful lesson in productivity. Find out more at http://neenjames.com/

---

Don?t Work for Your Money, Make it Work for You!

Well, the New Year is around the corner and so... Read More

Do You Want To Save Money Easily?

Living on credit is fashionable. Indulging oneself is fashionable. Saving... Read More

Net Worth Nympho

There are plenty of people who are in love with... Read More

Easy Ways to Save $1,000

Vacation season is upon us and it can be tempting... Read More

Residual Income - Part Three Finding Leaders

In my last article on Creating Residual Income I mentioned... Read More

Uncle Sams Snake Oild

Uncle Sam and his band of merry-men, better known as... Read More

Four Pillars of Creating Wealth

Some people in this world are thinking that their poor... Read More

The Top 10 Steps to Extraordinary Personal Wealth

I recently came across startling figures about the average American's... Read More

How to Save Money for Retirement

Saving money for retirement can be easy or difficult depending... Read More

Pennies From Heaven

I want to share an experience I had in common... Read More

Investing is About Discipline

If you don't have discipline then walk away from the... Read More

Financial Planning For Singles

Financial planning often gets a bad rap. Part of the... Read More

Understanding the Three Different Types of Income

Part of learning to become financially free is to begin... Read More

Trustees: Who Can You Trust?

Early in my legal career I represented two young women... Read More

Cost Averaging - It Makes Sense (Dollars & Cents)

It's no secret that the market goes UP...the market, goes... Read More

Discover the Secrets and Possible Solutions To Money Problems

It is sometimes pitful how many projects are never born... Read More

Business After The Iraqi War

The rewarding of high compensation packages to top executives who... Read More

Personal Finance Rules to Building Wealth

Key 1 Pay your self firstkey 2 Saving is not... Read More

Is Your Money Keeping Up With Inflation?

In today's unpredictable global economy, you obviously never know what... Read More

Who Wants To Be A Millionaire?

Steve Martin once delivered an opening monologue for Saturday Night... Read More

How to Grow Your Very Own Money Tree

Okay. So money doesn't really grow on trees. Unless you... Read More

The Philosophers Stone

"If you know how to spend less than you get,... Read More

Who Will Become Wealthy in the Information Age?

As you know, we're now well and truly in theInformation... Read More

Spiritual and Emotional Money Goals: The Keys to a Financially Free Future

Are you setting the right money goals?Most people believe having... Read More

Re-discovering the Fundamentals of Financial Planning

To lose weight in the 80's, we went on low-calorie... Read More

The Top 10 Steps to Becoming a Millionaire

There is perhaps no more important decision than to take... Read More

5 Simple Steps for Serious Saving and Financial Growth

1) Pay off your loan, credit and store card debt... Read More

The Old Monied Dupont Nemours and Roosevelt Families Buy a Tax Haven

This 4,000 acre sale (now a marina and resort town... Read More

Anthony Robbins 12 Reasons Why People Dont Get Wealthy

According to Wallace Wattles, in his popular wealth treatise called... Read More

Financial Planning for Beginners

Financial planning at an early age may seem complicated, however... Read More

How I made $122,000 and lost $132,000 - A lesson in Assets vs Liabilities

This is a true story from my own experience that... Read More

Thought Creates Reality Even When It Comes To Money

What if I told you that reading a book would... Read More

Why You Need To Buy and Sell Gold Coins (Part 4)

Top Investment PerformanceThroughout history, many coin collections have produced substantial... Read More