I am afraid that 2013 will be bringing us more of the same economic news that we heard in 2012, and that would be the best case. Unfortunately, the economic signs have yet to point to any improvement. I heard a billionaire by the name of Ed Mercer speak not long ago, and he made the following statement: “I never yet saw a recession I felt I wanted to participate in.” You might be saying, “Sure, how easy is that to say when you are a billionaire, or just extremely successful?” The fact of the matter is, no matter your situation, you must not allow yourself to be blown around by circumstances that are beyond your control. It is a mindset— turning lemons into lemonade—that will determine your outcome, not external circumstances.
Note:
While as of this writing we are not in a technical recession, I use the term
because when you are trying to make a conservative budget work, it feels like
you are in a recession. Companies that started during recessions include FedEx,
Hyatt, Microsoft, and, believe me, many, many more. So, whether you are
managing your personal finances, your family’s finances, or your business
finances, the same basic rules apply.And you peronally can weather storm and even prosper.
The Basic Premise Is to Lay Out an Operating Plan for Going Forward.
1-Budget. This is the most important thing you can do anytime to keep your finances under control. Does the fact that the US government has been operating without a budget for the last three years tell you what happens when you neglect this exercise? You can visit How to Budget to learn the basics and download a great spreadsheet to track your income and outgo.
It is absolutely possible to find at least an extra $500 per month on a modest salary by budgeting.
2-Take an inventory. Are there things that are stationary that are costing you money, maybe even in your sleep? High-wattage light bulbs? Maybe you have two refrigerators—do you absolutely need two of them? Are thermostats on timers? Here is a big one: cable TV. Are you one of those people who simply must have every channel available on cable? If not, you could probably save at least $50 per month by doing an assessment.
3- Driving. Are you driving efficiently? A friend of mine recently pointed out that the relatively new tires on my car looked like they needed air. So, I purchased a tire gauge and, sure enough, they definitely were not meeting the manufacturer’s specs, which can be found on the door panel after you open the door. After the adjustment, the change was dramatic. I went from putting gas in twice a week to only once per week, and I was driving the same distances. You could have knocked me over with a feather at thisutcome. In other words, examine everything.
4- It is usually important to have emergency credit if your budget is tight. If you use that credit, are you going to be paying more because of a low credit score? You can call 888-586-2661 and get a totally free assessment of your credit report and credit score to see what can be done to raise your score. No obligation—no one will try to sell you anything.
5-Lastly, if you feel trapped because you are paying high interest rates on a credit card, know that something can be done about that. You can get an absolutely free credit counseling session to address that problem by visiting American Debt Enders. While you cannot get that interest rate lowered, a credit counselor can.
There you have it. This little action plan can have a dramatic effect on your financial stress level going forward, and is absolutely easy to accomplish.
Please feel free to contact me directly if you need advice about anything related to debt freedom. The talking is always free.
Free Credit Counseling--- 877-766-2465
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Each of these numbers provides Free Counseling.
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Yours Truly Steven Ciantro
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Consumer Advocate
American Debt Enders
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