Tagged With "financial fitness"

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February: 28 Days of Financial Fitness Challenge

Moore Income ·
It is already the last day of January! Time sure does fly! Seems like just yesterday it was the new year and now there are only 11 months left in this year. How many of you have already broken some of your new years resolutions? I have. No need to worry too much about it, there is nothing you can do now but look forward. For me personally, I plan to get back up and continue pushing forward to accomplish my goals and dreams. One of my goals for 2019 is to get in better financial shape than I...
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What is the worst financial advice you've ever received?

BeckAtsila ·
I'm feeling playful today--what is the worst financial advice you've ever received? Mine was so bad it was epic and funny, at least to me. I am a professional author of a trade paperback and two e-books, one of which is self-published. This "make a six figure income and travel the world" guru wrote that you could get a six figure income by hiring a ghostwriter (I've done that, too) to write 100 books and sell them on Kindle. This is funny to me because of what all goes in to writing a book.
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Re: What is the worst financial advice you've ever received?

Moore Income ·
I think some of the worst advice for making money a lot of people talk about and is kind of the first advice you run into when you get started online. That advice is to go and do surveys and use other similar sites. While these all have their place, when you really look at how much time it takes, and how little you get, it is really not a viable way to "make money". You would be much better off just getting a second job that you only worked 1 hour a week. I am pretty sure you would probably...
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Re: What is the worst financial advice you've ever received?

Briana ·
Ooooh! Love this question. Mine would probably have to be -- "It doesn't matter what you do with your money right now, as long as you save for retirement, you'll be fine." I think it's so easy to think what you do now won't impact your future, or that you can always make more money -- but I'm glad I learned the value of creating healthy financial habits now so I don't have to worry (as much, hopefully) later!
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Re: What is the worst financial advice you've ever received?

Former Member ·
When I was a broke newly married college student I spent a lot of time reading up on how you could make money by getting your car wrapped in advertisements. I could get paid to drive around! Sadly most of the programs that were hyped up online required you to pay to get more info. I never fell for that scammy part but man, I wasted a lot of time on that research!
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Re: What is the worst financial advice you've ever received?

Duane ·
The worst advice I ever got was to go with a debt settlement company! My experience with what I thought was going to be a help, ended up being a nightmare. My credit was ruined, and my creditors had no patience with me, when they found out, I had chosen a debt settlement company. It was one of the worst experiences of my life, and caused me extreme stress and discomfort!! The lesson I learned was that there is no short cut to paying one’s bills, and that if a medical emergency comes up, and...
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Day 6: Learn From Others (28 Days of Financial Fitness Challenge)

Moore Income ·
When it comes to finances, sometimes it can be a subject that we don't like to get too personal with. Sometimes, it can be something we shy away from when the conversation comes up. For those who want to change their financial situation, we have to be open with ourselves about where we are at and do everything we can to change it. Practicing financial fitness on a daily basis is the best way to do just that. For today's daily step towards a better financial future, I am putting into practice...
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Day 9: Practice Delayed Enjoyment (28 Days of Financial Fitness Challenge)

Moore Income ·
This is one area where I still need quite a bit of practice. Practicing delayed enjoyment or gratification is a key principle in preparing for a better financial future. The culture in which we live has become increasingly automated to the point where we expect everything we want, right away when we want it. Companies and manufacturers have become very innovative in finding new ways to appeal to our desire for instant gratification. Everything from marketing to product placement in a store...
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Day 15: Set Financial Goals (28 Days of Financial Fitness Challenge)

Moore Income ·
You've probably heard the saying: This is especially true when it comes to finances. It is one thing to desire to live a life of financial freedom, but it is a completely different thing to actually take the time to set achievable goals to reach that point. Throughout this challenge, and especially today, I have had to really spend some time revisiting my financial goals. Some goals are big goals, while others are simply small goals for where I would like to be in the near future. If you...
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Who taught you your most important money lesson and what was it?

Briana ·
Growing up, I didn't necessarily have one specific person I leaned on for financial advice. But I spent a lot of time watching how my own parents struggled, which taught me that I didn't want to do the same. Now, I actively pay attention to what I can and can't afford and how to set myself (and my future family) up for more financial success. What's one money lesson you've taken with you?
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Re: Who taught you your most important money lesson and what was it?

Moore Income ·
Pay yourself first. This I learned from many books and successful people. It is a principal that truly works when you start applying it. There is a lot that could be said about it but the best book I have read on the subject would have to be The Richest Man in Babylon. You can find it on Amazon but if you want to save some money and get more books for less, I recommended Thrift Books.
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Re: Who taught you your most important money lesson and what was it?

AverageJoe ·
If we tithe to a local church, how do we pay ourselves first? Should we come directly AFTER the church, and then bills, food etc? Just curious on your take on it.
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Re: Who taught you your most important money lesson and what was it?

Moore Income ·
Good question. I personally view tithing as giving back a portion to God in thankfulness for what He has given me. Therefore I would apply the principle of paying myself first after tithe. For those of us who do this, it means we have to learn to live off of only 80% of what we earn instead of 90% but I think it is a good way to learn to live below our means. And if you practice the principle of tithing first, you can trust God's promises in His Word to take care of those who holds Him in ...
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Re: Who taught you your most important money lesson and what was it?

Sewspcl ·
My mother. She always said make a trash small. Save your pennies, pick up a penny. Water down everything to make more including soup, spaghetti sauces, gravies. We made and popcorn and VHS tapes to entertain ourselves. Always pay yourself 1st period try saving $50 a week by the end of the month you've got $200. If not weekly try bi-weekly. Don't throw out old clothes just cut them up and make a blanket or throw. Being thrifty doesn't mean being cheap. Because you always end up with more...
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Re: Who taught you your most important money lesson and what was it?

Sewspcl ·
Pay yourself 1st then pay your bills and tithing. Is not ego it's economics. If you get sick because you're not eating could you can afford food but you going to church every week who are you helping? Let go of ego and pay yourself 1st. Then get back to others. Make sure the church that you are giving to does not squander your money on wines and fine china like my church did.
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Re: Who taught you your most important money lesson and what was it?

Moore Income ·
@SEWSPCL Interested in understanding why you consider it "ego"?
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Re: February: 28 Days of Financial Fitness Challenge

Bri ·
I accept this challenge and will start paying off some unexpected medical Bill's and creating new 2019 budget.
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Re: February: 28 Days of Financial Fitness Challenge

Former Member ·
One of the things my husband and I are doing for the month of February is to not purchase any snacks, drinks, coffees, etc. on the go (or what I call ‘niggly’ purchases) and limit our eating out to once a week. It is a challenge for us in that we both work jobs that we go from stop to stop. We hope to use the money we save to put toward our vacation fund
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Re: February: 28 Days of Financial Fitness Challenge

Moore Income ·
@Bri That is awesome!
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Re: February: 28 Days of Financial Fitness Challenge

Moore Income ·
@Former Member that is a great challenge. I too am trying to limit my spending on such purchases and keep it to a minimum. I understand how challenging it can be. It can be so easy to just stop somewhere for convenience sake and grab a snack or a bite to eat. Saving for a vacation is a great idea, I can't think of a better way to reward yourself! Keep up the good work!
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Re: Who taught you your most important money lesson and what was it?

BeckAtsila ·
"Pennies add up to dimes, and dimes add up to dollars." My across-the-street neighbor when I was 4.
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Re: Who taught you your most important money lesson and what was it?

KellyFromKeene ·
I cant think of a particular person- but I can think of things I learned from several people. My parents taught me that tithing is important, although I have not always done that. My ex taught me that I don't need a lot of things to be happy- after I lost it all in a divorce. My boyfriend taught me how important it is to save and plan for the future. My kids taught me that people are the most important thing and that everything else is a distant second.
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Re: Who taught you your most important money lesson and what was it?

FreebiePharm ·
I would say my parents but by doing what they didn't do. I prefer not to spend my money, I am always looking for ways I can obtain things I need for free. The only financial footstep I followed was buying a new car and having that debt, which I wish I had never done. I should have bought a used car and had it paid off.
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Re: February: 28 Days of Financial Fitness Challenge

FreebiePharm ·
I am not seeing the daily goals/ Am I missing it somewhere? would love to see these...
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Re: February: 28 Days of Financial Fitness Challenge

Moore Income ·
@FreebiePharm it is not exactly in order but if you go to this 28 Days of Financial Fitness tag you can find all the days I have posted.
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Re: Who taught you your most important money lesson and what was it?

Kenny Mathe ·
To pay myself first is the good idea for example if may salary is less do I have to pay half of my salary to make my tithe and I would be left with nothing to pay my bills and my children remain without food in the house.If I pay what I can afford is it a problem
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Re: Who taught you your most important money lesson and what was it?

Bonnie Squires ·
Once I get my tax return I putting a good amount of money in the bank. Once I get a bill from my old place paid off than that will go into the bank account it wont be much only $10 a week but that an extra $40 a month in the bank.
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Re: Day 2: Read Financial Books (28 Days of Financial Fitness Challenge)

Maryanne Meyerriecks ·
Janet Bodnar of "Kiplinger Magazine" has written several books about teaching women and kids to be money-smart. She also had a column for parents in "Kiplingers" called "Dr. Tightwad." She gives good advice. Here is a list of her books (none are recent, but I haven't seen many books out there on teaching kids financial skills): https://www.amazon.com/Janet-B...549288225&sr=8-1
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Day 2: Read Financial Books (28 Days of Financial Fitness Challenge)

Moore Income ·
Day 2 is upon us for this February Financial Fitness challenge. If you want to follow along you can read more here or see Day 1 here . Today, I started reading The Financial Matrix and How to Escape It by Orrin Woodward. It is about breaking free from the financial traps that many people find themselves stuck in. Right before the first chapter there is a quote: This quote really rings true and sets a precedent for today's financial fitness principle. Investing in yourself especially when it...
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Re: Day 2: Read Financial Books (28 Days of Financial Fitness Challenge)

mintjulep ·
Though not a pure financial book or guide, I keep The Fourth Turning by William Strauss and Neil Howe in my home library. To be honest, it's not a fun read, much of it was a bit over my head and I sought dictionary assistance often, but I plowed through it and found it amazing. In short, the authors studied hundreds of years of historical patterns throughout the world which go hand in hand with historical financial crises, as well. What we seem to be experiencing now is a period of...
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Re: Day 2: Read Financial Books (28 Days of Financial Fitness Challenge)

Moore Income ·
@Maryanne Meyerriecks thanks for sharing this resource!
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Re: Day 2: Read Financial Books (28 Days of Financial Fitness Challenge)

Moore Income ·
@mintjulep It does sound like a pretty deep read but something I am definitely interested in learning about. I had not heard of this before so I will for sure be adding it to my reading list. Thanks for sharing.
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Day 17: Find Successful Mentors (28 Days of Financial Fitness Challenge)

Moore Income ·
Finding a mentor is one financial fitness step that will go a long way in helping you create a better financial future and stay on track with your finances. I will take a moment to stress finding a "successful" mentor. Talking to your friends and family who are in the same financial state as you, while nice, is not the same thing as having a mentor. If you want to be successful in managing your finances, you need to surround yourself with people who know how to do just that. Finding a mentor...
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Re: Day 2: Read Financial Books (28 Days of Financial Fitness Challenge)

Kristy Hoy ·
I love reading about finances and business philosophy. One of my favs for my business is Giving Candy to Strangers by Stan Holden. This book teaches you to be a better person in business and in personal life. The author truly gave a gift by writing this book. Enjoy.
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Re: Day 2: Read Financial Books (28 Days of Financial Fitness Challenge)

Moore Income ·
@Kristy Hoy Thanks! Adding that to my reading list!
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Day 13: Don't Stress Out (28 Days of Financial Fitness Challenge)

Moore Income ·
Today's challenge has less to do with the actual finances and more to do with the mindset of being financially fit. Money can be a big deal, especially when there is little of it to go around. It can be a huge cause of problems especially when it comes to relationships. But the fact is, stressing out about money problems never solves the problem. There are times like today when I didn't have such a tight restraint on my money and made a few purchases (food) that I didn't necessarily need.
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Day 8: Keep Family First (28 Days of Financial Fitness Challenge)

Moore Income ·
There are some personal areas where we should be careful not to be "too cheap" when it comes to financial fitness and creating a better financial future. One such area I believe is family. Now don't get me wrong, I am not saying you have to always provide every want and desire of those closest to you. Becoming financially fit does require some sacrifice even of your immediate family. But there are some times when the needs and desires of your family should come ahead of even your own...
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Financial Accomplishments (SHARE YOURS)

Moore Income ·
Every small step in the right direction is one step closer to the goal! When it comes to financial fitness, every accomplishment (no matter how small) is important, as it helps you create a better financial future. Even something as small as not buying a coffee and instead putting that money you would have spent into savings is a financial accomplishment worth celebrating. The more times you do these small things, you begin to create good financial habits that you will carry with you the...
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Re: Financial Accomplishments (SHARE YOURS)

Former Member ·
A recent win for me was that I figured out how to put an extra $230 payment on my car each month. I had been making good progress to pay my loan about 2 years early, and now I'm even closer - she should be paid off by July! (Yes, my car is a she. Her name is Birdie, short for Snowbird, because she's white and I bought her right after I moved to Florida.) Once that's done and I allocate those funds toward other debts (I hate my student loans so much), I also want to put aside money for...
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Re: Financial Accomplishments (SHARE YOURS)

KhiemKhiemosabiNguyen ·
I finally automated my distributions out of my paycheck into my savings and Roth IRA! And for the first time, I increased those distributions by 1% each, totally 22% of my paycheck paying myself first! Even though my paycheck looks smaller, it prevents me from spending more because I already took it off the top!
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Re: Financial Accomplishments (SHARE YOURS)

Bonnie Squires ·
I've put $1,000 in the bank. Paid $500 and $750 on 2 credit cards off. Paid a bill of a $118 off which the $10 will go in my saving each month. The 2 credit cards I paid off that money will go to paying other credit cards off. I paid for my domain name for a year and hosting for 3 months. Instead of swapping my bank card i've been pulling a certain amount off my card and what ever change i get back i put that up and once the money gone i don't spend any more unless we need some thing food...
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Re: Financial Accomplishments (SHARE YOURS)

Anna Matetic ·
We have taken better control of our budget. I think I got the idea of "sinking funds" from a Penny Hoarder post. We figured out all our bills that are not monthly (car insurance, garbage bill, etc) and figured out a monthly payment for them. We have a separate account for that money. It broke us of the habit of raiding the savings account when we had a bill like that. So now savings grows without interference and we have money set aside when these bills come up!
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Re: Financial Accomplishments (SHARE YOURS)

Mary G ·
My life mantra:a drop turns into a puddle, a puddle to a pond, a pond to a lake and a lake to an ocean! Make every dollar work for you...Citibank 2% cash back cc. Charge everything and pay bill in full every month. Over 6 yrs we have earned over $7000 in cash back points. Pay as many bills as possible with the cc. We’re very frugal...shop at 2nd hand stores, order ice water when we eat out, etc...it’s the little things that add up. We’re super savers putting away over 30% of our earned...
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Re: Financial Accomplishments (SHARE YOURS)

Bonnie Squires ·
MARY G sounds like you have a really good plan there.
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Re: Financial Accomplishments (SHARE YOURS)

Moore Income ·
@Mary G Sounds like you are putting to practice some great financial principles. I am still learning and just starting to put into practice good financial principles for a better financial future.
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Re: How to Organize Your Financial Life With a Budget Binder

AverageJoe ·
Excellent idea! I haven't seen anything that compares with it. It's easy to use and tracks everything one needs to track. I'd recommend it to my friends and family if they were looking for a way to track expenses.
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How to Organize Your Financial Life With a Budget Binder

Ashlee ·
Having troubling keeping up with everything in your financial life? A budget binder can help. Here's how to make one! Have you tried this approach to budgeting? I would love to hear more about your budget binders.
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Re: How to Organize Your Financial Life With a Budget Binder

Ashlee ·
I love that you use the budget as the "bad cop" for accountability @Olivia . Such a great idea to prevent finger pointing when things aren't going well in a certain category. My family currently just uses an excel spreadsheet, but I may have to incorporate pictures like you do @KellyFromKeene and start a binder. Having something you can flip through/hold in your hands with great visuals makes budgeting sound more fun!
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Re: How to Organize Your Financial Life With a Budget Binder

KellyFromKeene ·
That is very similar to The Budget Mom's Budget by Paycheck Method/Workbook. Great ideas, and it has been working for me and a friend who has been doing it with me. The binder is good to personalize it- I use the pictures that track savings for specific expenses, but they are not part of the workbook. The binder is great- you can start right away and its a small investment to make it work for you.
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Re: How to Organize Your Financial Life With a Budget Binder

Olivia ·
Our budget book is a life saver. The great side benefit is it keeps communication open between my husband and I. We always know what we have in each category and can make decisions accordingly. If we don't have it, we don't spend it. Once we decide on what to put into each category, the budget is the "bad cop" and keeps us in line.
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