Keep Your Savings Goals Small and Frequently Measurable

As a businessperson, you probably have at least several career-oriented goals going on at the same time. They may be big, small, short-term, medium-term, long-term, you name it. When it comes to personal savings, however, it’s often best to start with small goals. Once you have the hang of them, you can make your goals bigger if you want. (You absolutely don’t have to; why fix something that isn’t broken?) Here’s a look at the strategy behind keeping savings goals small and frequently measurable.

You Are More Likely to Succeed

Success breeds more success. On the other hand, failure can cause you to abandon a plan or idea for a long time, if not forever. Small goals increase the odds of success. Frequently measuring them also helps you stay on track and gives you more chances to succeed. The effectiveness of your endeavor does not hinge on one big day a year but instead on one day a month, or perhaps even one day a week. That way, if you don’t meet a goal on occasion, you can always say, “I’ll meet it next week [or next month].”

Details Do Matter

When it comes to personal savings, one action can make a huge difference. So, a seemingly small goal such as, “I will evaluate my car insurance on the 15th of the next month,” can reap significant rewards. Through an insurance comparison tool such as www.carinsurancecheap.net, you might discover that you’ve been seriously overpaying on your insurance for years. Your car may have gotten older, your driving record could have improved along with your credit record, and you might drive your car less. All add up to good savings every month.

This seemingly small, even “boring” goal can do a lot. Apply it to other types of insurance: home or renter’s, life, health, you name it, and you could end up saving several hundred dollars a month.

You Have Room for Other Things

One reason why huge goals or projects fail is that they leave room for little else in your life. If you set a huge savings goal that requires a long time to measure (for example, “I will save $20,000 in one year”), it may overshadow other aspects of your life. You may find yourself not going out with friends, eating food you do not enjoy because it is cheaper, and forgoing pleasures because of that big amount you are working with.

Alternatively, if your goal was something such as, “I will get all of my print, audio, and ebooks from the library this month instead of purchasing them,” you still have room for many other things in your life. And you’re more likely to stick with the library the majority of the time in the months that come. You may not save, say, $20,000 in a year, but you will have saved some serious money and still be succeeding.

You Stay Flexible

Small and frequently measurable savings goals also enable you to stay flexible. For example, getting downsized from full-time to part-time may make a goal such as saving $20,000 in one year simply not possible. On the other hand, if your goals are monthly and not contingent on exact amounts, you have the ability to keep going as you always did.

Speaking of flexibility (and failure), measuring your savings goals in exact amounts may set you up for disappointment. Some examples of savings goals are:

  •  Evaluating car, home, health, and life insurance
  •  Packing lunch three times a week instead of eating out
  •  Getting haircuts every two months instead of every month
  •  Carpooling once a week
  •  Riding your bike to work three days a week instead of driving
  •  Setting up a retirement plan

In none of them is a dollar amount mentioned. In fact, it’s even feasible that costs could go up. For example, if you have minimum amounts of insurance coverage, evaluating your needs could result in you realizing that you want more protection. However, you may be more likely to succeed with these goals because they constitute realistic actions rather than an end result.

Many people are not in a position where they can save a lot of money right away. Of course, a lucky few people can sell something such as a second car and get thousands of dollars. Successful, long-term savings is often founded on starting small and actionable.

Image courtesy of jk1991 at digitalphotos.net

Share Button

Security Assurance On Utilizing E-Currency

Everything that involves money would always need high level of security. Aside from the fact that everyone needs money to survive in this fast paced world, money for others is something that isn’t easy to obtain. They’ve invested so much energy and effort just to obtain such amount.

With speed up computers free of the hassle brought about by old age technology together with today’s advancement in technology, e-currency is slowly taking place our usual paper bills. Some people would prefer to use it because of the convenience that it offers. Everything is turning to be cashless as well as card-less.

However, there are still some people who are adamant to utilize e-currency because they aren’t confident on its security. They feel that anytime they can be robbed online.

These e-currency programs have their own way of securing the accounts of their subscribers. Some of them would require 3 levels of log in security processes like asking for passwords, numeric pin and even answering a pre-saved security question. If you fail to answer either of them, then you can’t open your account.

Even though these things exist, as the owner of the account, you should also be vigilant on protecting it. Do not click any links that you think would be compromising your account nor download any software that might be a way of obtaining your personal and security information.

Image Credit:
suphakit73 – freedigitalphotos.net

Share Button

Claim Tax Returns Successfully with TaxReturned.co.uk

Each citizen of a nation is required to pay their taxes. Some pay taxes individually while others have it deducted from their paychecks through their company. Everyone who is employed, working or performing a job has a tax id and has paid their dues to the government. However, there are instances when computation and other factors necessitate adjustments and rebates.

 photo tax returns.jpg

Healthcare providers and teachers can file claim for uniform tax rebates as well as rebates union and subscription fees to name a few. Workers may also file claims for deduction for their work tools and work-related expenses. Not many people know about the different types of claims they can file for tax rebates, but with the help of TaxReturned.co.uk you can have your tax rebates estimated in a few minutes. You can visit their website for an instant estimate and start your application process for your claim.

Tax refund estimators provide great assistance to taxpayers who want to know whether they have paid their taxes correctly and if they have something to claim at the end of the year. Be ready with your data for your filing status as well as your dependent exemption and their ages. Each year, your total earnings and the taxes withheld are essential factors required to come up with an estimate for your tax rebate. Other than that, you can also ask for assistance in filing for uniform tax rebates, work-related tax rebates and others.

Everyone works hard to earn a living for their families and being able to claim refund for taxes paid will surely have a little more on their finances. While you pay the government your dues and your taxes, you should also claim it back when you’ve paid extra or if you have spent more on work-related items such as tools, uniforms, union fees and others. TaxReturned.co.uk has more than ninety thousand claims processed and more than Four Million Pounds reclaimed taxes for their clients. If you want to know whether you can get tax refunds, ask them how now.

Image source: Pixabay

Share Button

Well Stretched Cash for Christmas Season

Most employees look forward to receiving their 13th month pay or bonus which is given out before the 24th of December as mandated by labor laws in the Philippines. This incentive serves as a reward for the service given by the employee. But instead of rewarding themselves, people usually allot this incentive for holiday expenses. Sadly, some people still end up with post holiday debts despite of the extra money they have. The only way to avoid this scenario is to manage your budget and make use of well stretched cash for Christmas Season.

well stretched cash
The first step in managing your budget for Christmas Season is to make a list of projected expenses for the holidays and your available cash. This will help you analyze and plan your spending activities during the holidays and help avoid unnecessary expenses. List your expenses according to priorities and be prepared to pare it down in case you fall short on your budget. Aside from presents, decors, and Christmas dinner menu, one should also consider incidental expenses like gas money for shopping and social gatherings or added utility costs if you plan to host parties in your home. As your list lengthens, start thinking of ways on how to turn your funds to well stretched cash for Christmas Season.

Once you finish your list, put an estimate cost for every item then add them all up. If you have enough cash to cover the total cost in the list then all you have to do is stick to the list and budget allotment. However, if your available funds can’t cover the projected cost then you’ll have to pare down some items. Finding ways to stretch your budget can help you keep items on your list without overspending or resorting to debt. Discount deals and coupons are great tools for stretching your cash. The money you save on these promos can be used to purchase other items on your list. If you are a member of a rewards program then now may be a good time to cash in or redeem your points. Those who want to save on time, energy, and fuel can do their shopping online. Make sure to shop at trusted online stores only to avoid hassles from poor service.

A few smart shopping tips can help you get a good stretch on your budget for the Christmas Season. This allows you to make the most out of your hard earned incentive and have a truly rewarding holiday. A well stretched cash for Christmas Season is an incentive spent well.

Image credits: Pixabay.com

Share Button

Recover from Business Debt with Chapter 11

Though you may already have some knowledge of bankruptcy filings in regards to individuals, you likely do not understand the differences between a personal filing and a business filing. As the owner of a small or large business, you may have the right to file for a Chapter 11 bankruptcy when you can no longer operate your business because of financial issues. A Chapter 11 bankruptcy gives you the right to file and get help without losing your business. This type of bankruptcy is suitable for a wide range of different companies.

bankruptcy

Who Can File for Chapter 11?

A Chapter 11 bankruptcy is suitable for most types of companies. If you are the sole owner of the company, you can file with the help of a qualified lawyer. You can also file when you jointly own the business with one or more individuals. Corporations also have the right to file in court. When you begin to work with a lawyer and fill out the paperwork, you must explain the type of business you own, if there are any other owners and how you file your taxes.

What is a Chapter 11 Bankruptcy?

One of the first questions you might have before working with Suzzanne Uhland or another dependable business lawyer is what a Chapter 11 bankruptcy entails. Unlike other types of proceedings that require you sell off your property to pay off credits, a Chapter 11 bankruptcy lets you continue running your business and owning property after you file. This is a type of reorganization or a restructuring of your company. This lets you sell off some of your property or assets and find other ways to pay off your creditors. Though you may lose a small amount, you can keep your business.

Why File for Bankruptcy?

Business owners often worry that filing for bankruptcy will look bad to investors and to the general public. Filing for bankruptcy may be your only option or the best option for your company. As the market changes, you may find that the value of your company drops and that you no longer have the customers that you had before. The less money you have coming in, the less money you have to pay your creditors. Those creditors can file lawsuits that results in the court placing liens against your business or assets. Instead of losing your assets, a Chapter 11 filing lets you protect your company and your assets.

Restructuring Your Business

You probably have some concerns over what restructuring your business actually means. Working with a trained protection specialist, you will have the chance to go over everything your business needs, including the number of employees you need and the assets you need to continue operating your business. The specialist will also help you work out payment arrangements with each of your creditors. You can then pay off your debts slowly and over time without losing the valuable things you need to run your business.

Filing for Chapter 11 lets you keep your business and most of your valuable assets while still gaining some protection for the future. You can rest assured that you will have everything you need and that you will have the chance to run your business long into the future when you file.

Image Credits: David Castillo Dominici at FreeDigitalPhotos.net

Share Button