BECOMING A GOOD MONEY MANAGER

Have you ever wondered what would make you a smarter money manager? No, I don’t mean the professionals who can help you manage your investments. I don’t mean the financial experts working in the bank. I’m referring to you and your ability to manage your personal finances.

Financial management skills are not something you acquire from birth. It has to be developed over time. Some people are lucky enough to be born of parents who practice good financial skills. By growing up with financially responsible parents, they are more likely to inherit the practices of their elders. They will get used to saving, smart spending and budgeting. If you have parents who practiced investing, that is also something that you will be encouraged to start in your youth.

But if your parents are not financially responsible, then you would have no idea how to be a good money manager. While it will admittedly be harder, that does not mean it is impossible to develop the skills that will help you manage your money well. It will take some time to get used to the habits but you can turn your financial life around. You just have to possess the determination and the will to correct the errors are are compromising your financial position. So, here are 10 skills you should master to become a good money manager yourself…

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MULTIPLE STREAMS OF INCOME

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You may not believe this, but during this season we are in we have a huge opportunity to create additional streams of income, and here are the two main reasons:

1. The Internet. The web has created an unbelievable amount of opportunities and created a significant amount of wealth. All it takes is a little know-how, and all of a sudden, your ways to generate income are endless.

2. Resourcefulness. This generation more than any other has learned how to use their current resources to solve problems quickly and efficiently. They are not locked into one pathway and aren’t afraid to think outside of the box.

And now, more than ever, having multiple streams of income is bordering on necessity.

Here are 10 reasons why I believe everyone needs to develop as many income streams as possible…

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A POSITIVE MONEY MINDSET

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Many of us know what we're supposed to do when it comes to basic money management - spend less than you earn, save an emergency fund, and invest for retirement. However, establishing these types of good money habits is always easier said than done.

Money management, like many important things in life, requires discipline. Add to that the guilt and shame that some of us carry when it comes to finances, and you have a recipe for money management misery. Or, at least, a sense of why the "ostrich approach" can seem more appealing than tackling underlying issues.

Fortunately, there are some simple steps you can take to move from negative feelings and lack of discipline to a positive money mindset and great habits.

So, here are the 8 ways to create a positive money mindset…

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DEBT REDUCTION

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DEBT REDUCTION

Want to get out of debt fast? Then commit to the debt reduction snowball plan.

You might be thinking, “Oh yeah, I’ve heard of the debt reduction snowball plan. It makes sense – you pay off your debts one at a time until they’re gone. I got it.

No, you missed it.

How the Debt Reduction Snowball Works…

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HOW TO CREATE EXTRA MONEY FAST!

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Are you sick of never having enough money? Wouldn’t it be nice to have extra cash in your bank? Even if you’re living paycheck to paycheck right now, I’m going to teach you how to save up a fair amount of extra cash in just a few short weeks. If you’re reading this post and you want to see your account jump several hundred dollars ahead or more, then keep reading…

How to Save Up a Few Hundred Dollars or More in Just a Few Weeks…

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DEALING WITH FINANCIAL STRESS

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The possibility of an economic downturn, even for a brief time, could have you concerned about your money and assets. If you’re finding yourself stressed about this, the following could help you gain a sense of peace, and see a brighter financial future.  But before giving you a short list of things that could help you during this time I want to remind you to…

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4 SIMPLE WAYS TO RELIEVE MONEY STRESS

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It’s a common misconception that making more money will bring more happiness and less stress, but research doesn’t show this to be the case. While more money brings a momentary thrill and a few new things, people generally adjust their lifestyles in ways that don’t increase their overall happiness level or decrease stress.

A better goal would be to be smarter with the money you have:

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GETTING THROUGH FINANCIALLY TOUGH TIMES

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GETTING THROUGH FINANCIALLY TOUGH TIMES

We all go through the tough financial times at one point or another. And although I’m not speaking financial disaster upon you or your family I am a believer in being as prepared as possible. And the better prepared you are, the less painful it can be.

Here are some tips for getting through financial uncertainty with your financial life, and sanity intact.

READ MORE …

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MONEY HABITS TO DEVELOP IN YOUR LIFE

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MONEY HABITS TO DEVELOP IN YOUR LIFE

All of the money habits included in this blog are good to implement on their own. But, combined? They can change your life for the better, and for good. But they all start with actionable change on your part. And in order to make a change, you have to want to change in the first place.

It’s easy to keep heading the wrong direction — to take the path of least resistance. But with the right attitude and the right game plan, you can begin forming the habits that will help you become rich over time.

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PATHS TO WEALTH CREATION

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PATHS TO WEALTH CREATION

Most people desire to be rich, but few really become rich. Why? Too many people are looking for the get rich quick system of wealth creation. Now, there may be some who receive their wealth seemingly overnight and through inheritance, but for the majority it doesn’t occur that way. They increase their financial well-being by faithfully following the RULES. Although I have several Rules of Wealth Creation, I want to share just 5 basic ones to help you get started.

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DEBT FREE HABITS TO LIVE BY

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DEBT FREE HABITS TO LIVE BY

Getting out of debt is a HUGE thing! It’s something most people dream about, but never truly achieve. Those that do stick to a path of eliminating debt feel massive relief when they finally hit that zero. We all know that getting out of debt is not easy, however staying out of it is an even a bigger challenge – a challenge most of us keep failing. The idea of staying debt-free seems like an unattainable dream but I’m here to tell you, it is not impossible.

FINANCIAL WELLNESS

FINANCIAL WELLNESS

The key to addressing the potentially crippling financial wellness issue in the world is to identify a healthier alternative. The opposite of financial stress and distress is an increased sense of financial wellness. However, financial wellness suffers from a myth. Here is the common misconception about becoming financial healthy that needs to be addressed:

6 KEYS TO BETTER MONEY MANAGEMENT

6 KEYS TO BETTER MONEY MANAGEMENT

The biggest complications that keep things disorganized financially usually arise from not doing a few simple things. When you fail to do some or all of these things, it’s easy for your finances to descend into chaos and start causing serious problems in your life.

So, here are six things you can do to start simplifying how you approach managing your money and learn to more easily keep it under control:

Your Future Awaits.