I asked financial independence expert Belinda Rosenblum to share her best tips on long-lasting ways to make more, save more, and pay down debt faster. Here are six ways to rock your money game!
Six Ways to Rock Your Money Game!
Everyone wants more money and less debt, right? Here are six tips you CAN do this week to save more, pay off debt, and even earn more—how many will you try?
- Begin with a S.M.A.R.T. goal in mind.
It’s all well and good to say you want to pay down debt, but when you have no specific target in mind, it’s a lot easier to break out the credit card when something unexpected comes up.
Set a goal for when you want a certain account paid off, and then do the math to see what you’ll have to do in order to make that goal. If you find it’s really unreasonable, you can of course adjust your parameters, but try to stick with it until the end. With a clear objective and monthly plan, you may actually get there way faster than you thought!
- Learn to say no—creatively.
Sometimes it feels like you’re the only one struggling with money, so when your girlfriends want to go out to dinner, you feel compelled to join in the fun and keep the money troubles under wraps.
Instead of shutting off your social activities entirely, look for low-cost ways to spend time and connect with your friends. Instead of spa days or pricey dinners, try hosting a BYOB wine-tasting at your place, or head out for coffee and pastries.
When payday rolls around, the last thing you want to do is take a large chunk of your hard-earned cash and stick it into savings.
You won’t miss the money you don’t even see, though, so set up your account to move money to savings automatically, or have your employer direct deposit into two separate accounts. You might feel a pinch at first, but you quickly get used to “the new normal,” and VOILA—you’re a saver!
- Everything’s negotiable.
Quick! When’s the last time you looked at your cable bill or your car insurance? Let me guess—it’s been awhile...
Grab all the bills, set up a spot on your calendar, and start dialing. You can ask your cable provider, cell service provider, insurance company, and many more for discounts, and even your utilities, like your electric company, might have suggestions on how to lower your bills. This one can take a few minutes per call, but the savings LAST.
- Ask for that raise already (or just decide to raise your own rates).
When you get an annual cost-of- living increase, you barely even see or feel that 4%. Bummer.
So many people—women especially—don’t feel comfortable asking for more and, therefore, leave money on the table. Just because you get a small annual increase does NOT mean you can’t ask for a merit-based raise too, though. Pull together a thorough analysis of the extra value you’re bringing, decide on a number you want to go for, get your courage up, and GO FOR IT. The worst they can say is no—literally! But guess what? If your employer really values your contribution, there’s a good chance they’ll actually say YES.
- Give yourself a raise.
Self employed? You can do this, too. YES, you can charge what you’re worth—I promise, it’s allowed.
Increase your rates and communicate the new number to past and current clients. Sure, you charged $XX yesterday, but today, you charge $XXX. Easy as that. You don’t OWE working for peanuts to anyone, so calculate your new prices and move forward. Period.
If you want to ask questions about HOW to do these things or which you should tackle first, register for Belinda’s FREE training today, to get into action here .