I'm a Budgeting & Money Management Coach and many times when I am working with a new client, they ask me how can they get out of their current “pay check to pay check” situation fast!
Here are just 5 of my many "quick fix" tips of crawling out of a bad financial hole. Good luck and if it works for you please let me know by responding commenting on this blog and/or giving your “testimony at our W.O.W. site. Allow at least 10 days to see the full affects of the cycle!
1) Give 10% of your money, time, or talent. I know you don't have any extra money right? Then utilize the other suggestions. Here is how you do it.
If you earn or get paid $1000 a week, you should volunteer your time of talent for the number of hours it would have taken you to earn ($100/ or 10% of salary)
So...............
If you worked 40 hours to earn $1000 - do this 40/1000 = .04 or 4% of 40 hours, which equates to 1.6 hours a little or an hour and 30 minutes so round to the nearest hour. You should volunteer/donate 2 hours of you time per week.
2) Purge - Clean out the clutter in your home, car, and/or garage! Anything you haven't used in a year or more should be donated to a charity. This includes cloths that you keep in the closets that you never wear and shoes.
3) Start a budget - I can help you with this if you don't know how. There are FREE Library books to help you as well. I charge a fee :)
4) Keep all of your receipts in a box and give each one a category. This is apart of doing a monthly budget. Remember, if you can't get a receipt you can't get the product or service. This includes hair or nails unless you pay using your debt card!
5) DO Not Use any of your credit cards during this time! If you cannot purchase with cash, debt or check don't buy it!
Well that's 5 of my secret ingredients for the beginning process of building wealth. Good Luck!
