“Cashing In On Your Talent” Lessons In Debt, Credit And Home Ownership

You are aware of the high 10% unemployment nationally but here is what you can do about your personal financial crises.   The commercials sing that it is time to think beyond the money, and think about personal values. As further support, found in an investment article a current trend referred to  P I E C  =  (Personal Income Earning Corridor). Basically cashing in on your personal talents using the following keys: 

               1.  Doing what you like.

               2  Act beyond money.

              3.  Work with like minded souls.

These three elements encourage self evaluation. If your household budget reflects a need for additional income, use a smart strategy, re-prioritize your goals to put more value on your happiness, and work with other people who hold the same interest and values that you do. 

If you have identified skills, special interest, hobbies, or talents that can be turned into a service business such as: photography, sewing / alterations, spots, woodworking, auto care, decorating, crafts, artistic,  being a handyman/woman, music or acting, tutoring, or even teaching a foreign language you are closer to the extra income you want and need.  

Keep your options open with business services that don’t need any special skills or talents for but are needed such as: housecleaning, house sitting, pet walking or pet setting, driving services, lawn or garden care, child or senior setting.  A consigner service could be running errands, shopping, standing in line to buy theater tickets, picking up dry cleaning, or whatever.

 A business plan will allow you to think through the necessary legal steps to establish your business, a marketing plan and a budget using examples online.  You will need to secure outside services of a bookkeeper, insurance and bonding service, and perhaps an attorney. 

Network  with like minded people in the selected market and you will cultivate and build a business that will enable you to cash in on your talents !

Spectrum Resources is holding a contest, we are looking for your best money saving tip. Simply write in what method of saving has worked for you in our comment box. The best tip will be posted in all four blogs, and you will receive FREE two hours of counseling over issues pertaining to debt, credit or home ownership. PLUS you will receive a FREE personally autographed book titled “Hey! Where’s My Money ?” by local author Janet Shore.

                                                                                                                    

Call Spectrum Resources  (863)  967-0660  for counseling in debt, credit or home ownership issues.  Email:   SpectrumResources@tampabay.rr.com    

 For credit repair or a credit card modification program: http://CreditJusticeServices.com/?ccc=1242

Put this in your favorites, and please visit all our blogs, each one with different lessons: http://SpectrumResources.wordpress.com & http://WomanToWomanMagazine.ning.com http://FinancialEducationAndOptions.blogspot.com http://MoneySavingTips.PolkVoice.com

“6 Ways To Stick To A Budget”

 You have a financial plan, BUT you don’t stick to it. Welcome to the club ! As a credit risk assessment planner, I see many who know what to do but just can’t seem to stick with the plan to follow through. The word “budget” is like saying the word ‘diet” to a fat person.  Taking control of your money is NOT hard, you can succeed, if you keep it simple !

 1.         Be realistic, everyone could save money if we didn’t have to eat.  But you can cut your food budget 15% by planning ahead for shopping and meals.  Make eating out a special occasion not a weekly event. Look for and take advantage of specials and coupons on groceries. 

2.         You maybe one of those people who design a detailed budget when you have not first documented what you actually spend.  The detailed budget based on a wish list will create stress, not success. First you have to know where the money is going before you can attempt to take control of it.  Track every nickel spent for 30 days, then evaluate.  Tracking creates awareness enabling you to make better decisions. Correct bad habits with a personal audit at the end of every 30 days, learn from your mistakes.

3.         ‘Enjoy the simple life.’ Look for ways to reward yourself for free !  A concert in the park, hiking, bike riding, camping, volunteering at a local soup kitchen or visit a museum.  Doing something eliminates boredom –guaranteed. And doing something for free is rewarding as well.

4.         Plan for the unexpected. Right off the top of all your income, set aside 5% for your emergency fund.  Remember, your goal amount is six times your household expenses. By nature, most people learn to live on whatever the amount is coming in the house, if it goes up or down.  So if you take the 5% off the top, you have set your priorities to survive any unexpected event, and you will figure out how to live on what is left. 

5.         Don’t panic, your personal spending plan is not carved in stone. If you spend more than you planned, put it down as a lesson to learn from.  Keep your eye on your goals.  But you still should reward yourself also.  A reward at the end of the month is being realistic.  If we don’t acknowledge what we are doing right, we don’t feel the benefit and we stop trying. 

6.         Don’t get hung up on the need to have super duper accounting or budgeting programs, those are stressful in themselves.  Keep it simple.  You have so much coming in and that is your boundaries. Determine your wants and needs, and then set your priorities to fit within those guidelines. You can succeed !    

                                                                

For assistance in structuring a personal spending plan to achieve your goals, contact Spectrum Resources (863) 967-0660 or email: SpectrumResources@tampabay.rr.com

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