Free Download - Basics of Internet Marketing By Ravi Kumar
Everyone
seems to be struggling to break free from financial burdens. So many have lost
jobs or received a cut in pay. We can truly be thankful for the income we have,
whatever the source may be. However, we can do more than just survive during
these trying times. We can find financial freedom by applying several basic
principles to the way we view and use our resources.
Discover your spending personality. Are you Frivolous Freda or Frugal Fran?
Determining your financial character is the first step to financial freedom. By
discovering how money motivates you, you can begin to access which spending
habits to retain and which ones you should discard.
Determine monthly spending. Gather up every monthly statement you receive and
list its due date and amount due. Now, add all other monthly obligations such
as rent, lights and cable. Finally include quarterly, annual and semi-annual
obligations. Break these down into monthly increments and add them to your
list.
Now
it is time to list monthly spending for necessities. Add items such as food,
clothing, household items, medication, gas and transportation expenses, yard
care, and home repairs to your list.
List all sources of income no matter how minute. Your next step is to create a
balance sheet. This will help you determine if you are overextended.
Balance debits against credits. Subtract expenses from income. If the balance
is positive, congratulations! You are on your way to obtaining financial
freedom. You simply need to develop a plan for using or saving your extra
income for becoming debt free. You may also want to determine ways to increase
your extra income by adjusting your spending habits to reach financial freedom
more quickly.
If
your balance is negative, you have discovered your next step to financial
freedom: lowering your monthly spending or increasing your monthly income.
Carefully go over your list of expenses and look for ways to reduce spending.
You may find items that are not worth their cost to you that can be eliminated.
You may wish to increase your income by working a part time job or starting a
small business such as yard work or freelancing. Whichever method you choose to
balance your income to expenses ratio, stick to it and you are sure to see
results. You may even use both methods for a quicker resolution.
Track every penny you spend. What you have on paper may not be what you have at
the end of the month. Easy access to cash and debit cards makes it easy for
money to slip away from us. If you are coming up short at the end of the month
you need to implement a tracking plan. For one week track every penny you
spend, and what is was spent on. You may be in for a surprise. It may be
difficult to decrease daily spending at first, but keeping your hands out of
your pockets will soon become a habit you will enjoy.
Create a spending plan that fits your needs. Be sure to include recreation. If
you enjoy eating out, work out a set number of times you will indulge yourself
each month. If you enjoy movies, maybe you can rent your favorites instead of
going to the theatre. Remember your financial personality should match your
spending plan.
Plan to save money. You need to save enough of your extra money to cover an
emergency or job loss. Depending on your personal situation two to six months
of living expenses should be sufficient. Once you have created this buffer you
can begin wiping out your debt.
Pay off high interest debt first. Once you have determined how much extra money
you have can begin paying down your debt. By funneling your extra money to your
highest interest debt you will decrease your payments at an unbelievable rate.
Spend with purpose. As you see your debt eroding, you will automatically begin
saving more and spending less. The sheer joy of financial freedom will compel
you to increase your efforts. Remember to take time to enjoy life. Don’t let
your purpose become an item of strife in your relationships. Spend wisely and
with purpose. Everything has a price, and while you cannot purchase happiness,
purchasing wisely can bring happiness.
Marcus Arkan
Marcus Arkan currently serves as the President/Principle Broker of Syndicate Mortgages Inc. After working with a number of Canada's top financial institutions, the experience and knowledge he gained throughout his professional career combined with his drive and entrepreneurial spirit led him to develop his own company. The operation began in 2003 in the basement of his home and now has flourished into a successful corporation with a head office in one of Metropolitan Toronto's busiest sectors and 10 branch locations employing over 100 mortgage professionals. His organization is now one of Ontario's leading mortgage brokerages specializing in residential, commercial, and construction financing. He holds the designation of Accredited Mortgage Professional from the Canadian Association of Accredited Mortgage Professionals. This allows him to differentiate himself from other mortgage originators and demonstrates his commitment to the highest standards of industry performance. For more information on Mr. Arkan and his Syndicate Mortgages Inc., please visit www.syndicatemortgages.com. - Visit Marcus Arkan's Website
To learn more about the Evan Elite Author Program please contact us.
Ravi Kumar is a Senior Executive in
a large multi national company
turned into an internet marketer.
After steadily and successfully
climbing corporate ladder for 15
years, he realized that Success
(which is defined mostly by
external measures) alone is not
nearly enough. There is another
dimension called Fulfillment
(which is defined by internal
measures). Fulfillment mostly
comes from making a difference in
this world. Ravi is very
passionate and truly committed to
making a difference in lives of
those he comes in contact with
everyday.
Ravi Kumar is a Silver author on EvanCarmichael.com
Ravi Kumar's
Complete
List Of
Home-Based-Business Articles
If you enjoyed this article, get Ravi Kumar's Complete List of Home-Based-Business Articles For FREE!
Have you written articles that would be of value to entrepreneurs? Become an expert on our site by publishing them! Expose yourself to a wide audience, drive more traffic to your website and get more sales! Click Here for details.
Modeling the Masters: Learn the true secrets behind Walt Disney's business success factors & grow your company!
Video produced by Phanta Media
Get advice & tips from famous business owners, new articles by entrepreneur experts, my latest website updates, & special sneak peaks at what's to come!
Email us your ideas on how to make our website more valuable! Thank you Sharon from Toronto Salsa Lessons / Classes for your suggestions to make the newsletter look like the website and profile younger entrepreneurs like Jennifer Lopez and Sean Combs!
Marcus Arkan
Subscribe to Ravi's articles
Non Disclosure Agreement
