5 Steps to Save for the Future

Save for the futureSave for the future

All of us are prone to live for the moment, especially when it comes to managing our money. The truth is that we should all save for the future. The commercial world wants you to buy now and pay later (with interest).

To save for the future makes sense and with some thought and planning it can make your life simpler and happier. Whether you are doing this for your business or personal life start with a budget planner.

Image courtesy of Stuart Miles at FreeDigitalPhotos.net

5 Steps to Save for The Future

Step 1

Take an honest look at where you are spending your money. If you are not saving for the future or indeed are getting into debt this is going to be vital. Where are your funds going each month? What are non-essentials? Please be honest about what is and what is not essential. For example trips to the movies, eating out and sports events are not essential. Once you have identified these areas you will be able to see how much money you can save each month. This does not mean living without any pleasures and you can aim to build in some treats within reason.

Step 2

Look at the money you spend on essentials. Can you make savings? Perhaps you can change utility supplier, the places where you do your food / clothes shopping, and other such things. Look at everything you spend and see if there are lower cost alternatives. Also look around your home and see if you can reduce things like your heating bills by turning down the thermostat a little or adjusting the timer settings. You will be surprised how much we overspend due to complacency.

Step 3

Plan your new budget and put away money for future events. There are 3 saving goals. Short term up to a year, Medium Term 1 to 5 years Long Term 6 years to say retirement.

If you don’t have a pension provision that is certainly going to be a long term goal. Other things to consider are going to be expenses that will arise in the future. A new sofa can cost a lot of money so work out when you will next need one, the likely cost and how much a month you will need to save. Put away money for other things too that don’t come up every month and save for the future costs. This takes some effort but is going to make your life so much easier.

Step 4

If you have debts that are not going to be able to be budgeted for and are likely to drag you further down go and see a debt adviser to see if you can get agreements to have these written off or reduced rather than go bankrupt. This will of course affect your credit rating but if you have reached rock bottom and no amount of cutting back will help don’t wait a moment longer to seek advice.

Step 5

Now is the time to review your budget and to set reminders to check it every month and also set reminder dates to see if you can save money on such things as insurance renewals. Don’t be frightened to ask for discounts from your present suppliers if others are cheaper as many companies do like to keep their existing customers. They won’t offer cheaper rates to you unless you ask though!

Recommended Reading

Here is a list of books that you will helpful to helping you save for the future. Click on them to find out more.

The Minimalist Budget: A Practical Guide On How To Save Money, Spend Less And Live More With A Minimalist Lifestyle
The Money Diet – revised and updated: The ultimate guide to shedding pounds off your bills and saving money on everything!
How To Save Money: A guide to saving money when you’re already doing everything you can.


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Avoid Complacency

Avoid Complacency in Your Business

How to avoid complacency in your businessWhen we hear of businesses that struggle or close down you will often note that commentators will criticize the business for complacency.

This week Tesco announced losses and once again commentators said that Tesco’s problems are mainly because they had stopped innovating, they had become complacent.

Image courtesy of Stuart Miles at FreeDigitalPhotos.net

How can you avoid complacency?

Don’t take your foot off the gas! Many businesses get ahead of the competition. They are do well and sales are good. However the competition is always looking to step in. If a business thinks that it is well ahead and relaxes it can soon be caught up and passed. You should never underestimate your competitors. It is easier for them to copy than innovate and they can then tweak the copy to become better.

Always innovate. Keep brainstorming and inventing and try out new ideas. Spending time and money on R&D (research and development) is money that should not be subject to a budget cut just because some ideas don’t work out. In anything that is new some projects won’t work but you have to have failures to get successes. It’s impossible to only invent things that will be successful, if you are going to be different and better than anyone else.

Many successful businesses have a policy of rewarding staff for suggestions. The frontline staff often have a better idea of what customers want and which way the market is going. Take time to listen to them, no matter how much you might initially find what they say makes uncomfortable listening. It’s true to say that most businesses owners don’t like to hear that their business might have weaknesses in their customers eyes. To avoid complacency we have to be realistic and note that markets change and our business might not be viewed by our customers as it once was.

Once you know that change is needed then make those changes as fast as you can. Speed of innovation is vital because quite likely someone else has also noticed the opportunity and you don’t want them to get there first.

When it comes to your business, how do you avoid complacency?


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Make Money from Affiliate Marketing

Make Money from Affiliate Marketing

There are many people making a good income from affiliate marketing. You will also find many adverts offering to help you make money from affiliate marketing. However I have found something that will help you get started today at no cost. There is a paid option which I recommend that you consider later but try this out now. It’s a genuine free way to learn about affiliate marketing with no commitment and it stays free until you decide to go premium. You can try out the premium service for a month for a low fee as well.

The Wealthy Affiliate will show you step by step how to create a website that will make you money from affiliate marketing. Premium members have unlimited live support but as a free you you can test that out for your first 7 days as well. Just take a look at the Starter and Premium options below.

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Joining is easy and fast. Once you are in the website please start the initial training and say hello to those that welcome you in the community. You have 7 days access to unlimited support and one to one coaching as well. If you are like me and within a day or two find that this is the best website about affiliate marketing there is you are going to decide to become a premium member. Please note that whether you are a free or premium member you will be able to earn affiliate commissions by referring others to Wealthy Affiliate. Here is some great news – 1 in 8 people that sign up become a premium member! You really can earn while you learn.

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Join Wealthy Affiliate today and I will be pleased to help you get started. Once you have had your first 7 days or sooner switch to becoming a premium member and continue to receive full support from myself and the whole community in Wealthy Affiliate. I look forward to seeing you in the Wealthy Affiliate community.

Yes, you really can make money from affiliate marketing!


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