Following on from my recent blog post on financial check-ups, once you've reviewed your financial situation here are some ways to save money, earn additional income and make your money work for you
More money
Consider ways to generate additional income or earn extra money so you can boost your income, pay any bills or start saving. Be creative - think outside the square and try different options.
Passive income
Earn money and clear your home of clutter by selling unused household items such as clothing, children's toys, furniture, appliances etc... online, at a stall or garage sale.
It doesn't need to be a massive task or require large amounts of time - break it down by grouping into categories or selling one item at a time.
Activities such as re-gifting and swishing (clothes and accessory swapping) are gaining popularity, with thousands of unwanted gifts sold or exchanged online on sites such as TradeMe and iSwish.
Save money
Consider some form of personal savings such as Kiwi Saver, an interest-bearing savings account, term deposit or similar. If your finances are tight, start small - remember, every little bit counts.
When making essential purchases, look for sale and discounted prices or shop around and negotiate. Many retailers will give some form of discount if you ask, especially for cash (which often includes credit card purchases). Be assertive, firm and confident in your negotiations.
Identify any opportunities to reduce your spending or minimise your expenses e.g. growing, baking or making something yourself rather than buying ready-made or pre-packaged goods.
Save money by re-gifting to friends and family throughout the year (be careful you don’t re-gift to the same person).
Alternatively, consider donating unwanted or excess items to charities and other community groups. Whilst you might not receive financial rewards, the value of helping others can be priceless.
Need help with your money? Do you have parenting question you'd like answered? Email Karyn results@rileylife.co.nz
Showing posts with label Recession. Show all posts
Showing posts with label Recession. Show all posts
Tuesday, March 9, 2010
Wednesday, March 3, 2010
Time for a financial check-up?
After the indulgent highs of Christmas and the holiday season, reality often returns with a resounding thump when the bills roll in February/March leaving many parents feeling anxious, stressed-out or depressed.
Overspending on your credit card or last-minute impulse buying may have left you and your finances depleted. Chances are you are not alone.
Now is the ideal time to review your finances and plan and set goals for the year ahead. Here are some tips to help:
Start small and simple
Don’t get overwhelmed, stressed or anxious about your current financial or emotional situation. Keep things simple – identify one area that you want to focus on first e.g. your financial goals, budget, income or expenditure.
Financial check-up
Identify any areas for improvement that may be draining or stretching you financially, e.g. credit card debt, expenditure, high-interest or multiple loans. Establish or review existing budgets and seek financial or professional assistance if necessary. Try using online resources such as sorted.org.nz to assist with debt and financial management.
Take action
If you find yourself in an undesirable financial position, one of the most important steps you can take is to do something about it. Even one small change can make a big difference and help you move towards improving your situation and alleviating stress and pressure. If you put off or avoid taking action, it will only make matters worse.
Make time to sit down, discuss and review your financial position and options with your partner or financial adviser. Set short- and long-term financial goals. Remember it's OK to seek financial advice and assistance.
Next week, I'll cover ways to save money, earn additional income and make your money work for you.
Do you have parenting question you'd like answered? Email Karyn results@rileylife.co.nz
Overspending on your credit card or last-minute impulse buying may have left you and your finances depleted. Chances are you are not alone.
Now is the ideal time to review your finances and plan and set goals for the year ahead. Here are some tips to help:
Start small and simple
Don’t get overwhelmed, stressed or anxious about your current financial or emotional situation. Keep things simple – identify one area that you want to focus on first e.g. your financial goals, budget, income or expenditure.
Financial check-up
Identify any areas for improvement that may be draining or stretching you financially, e.g. credit card debt, expenditure, high-interest or multiple loans. Establish or review existing budgets and seek financial or professional assistance if necessary. Try using online resources such as sorted.org.nz to assist with debt and financial management.
Take action
If you find yourself in an undesirable financial position, one of the most important steps you can take is to do something about it. Even one small change can make a big difference and help you move towards improving your situation and alleviating stress and pressure. If you put off or avoid taking action, it will only make matters worse.
Make time to sit down, discuss and review your financial position and options with your partner or financial adviser. Set short- and long-term financial goals. Remember it's OK to seek financial advice and assistance.
Next week, I'll cover ways to save money, earn additional income and make your money work for you.
Do you have parenting question you'd like answered? Email Karyn results@rileylife.co.nz
Wednesday, April 8, 2009
How to Recession-proof your Life and your Business
I'd like to share some thoughts with you about how you can recession-proof your life and your business:
Think Big Picture
You are what you think – your thoughts will become reality. Now is a great time to revisit (or put in place) your vision for your personal and professional life.
Remain Focused with a Positive Attitude
Where does your focus currently lie – internally or externally? If you find you are continually distracted, or being drawn away from the important things in your life, put support systems in place to remain focused and on track.
Think and Act “Outside the Square”
Are you stuck in a rut? Doing something differently, or looking for new ways and ideas, opens up all kinds of opportunities and possibilities that often wouldn’t be discovered with a closed mind.
Be Realistic
Let’s face it – life is full of all kinds of ups and downs. Now is a good time to take a reality check. Ensure you are living within your means and acting in accordance with your personal and professional values. Have the courage to act responsibly, authentically and with integrity.
Be Flexible and Embrace Change
As one door closes, another one often opens. Be prepared to adapt, be flexible and willing to change. While the loss of a job can be devastating, it can also be the chance to retrain, gain new skills and knowledge, or even lead to a change of direction in your life or career.
Self-care
Now more than ever, it’s important to take care of yourself, enabling you to take care of others. If you don’t look after yourself first, how can you manage a business, or raise a family?
Communication is the Key
Remember, you are not alone. We are experiencing global recession. It’s important to talk through your thoughts and feelings with family, friends, a Life or Business Coach or similar professional. Remember that a problem shared is a problem halved – discussing your concerns, fears and ideas with someone else often results in a solution or leads to the formation of an action plan.
Foster a Sense of Community
Our sense of community has never been more important. The rise of home and communal vegetable gardens is one of many ways you can act locally while thinking globally, with the added benefit of eating fresh produce and saving money.
How you choose to survive this recession is up to you: Are you on the ropes, ready to throw the towel in? Or are you ready to come out fighting, to stand up, raise your hand and head high and be declared a winner? The choice is yours.
Think Big Picture
You are what you think – your thoughts will become reality. Now is a great time to revisit (or put in place) your vision for your personal and professional life.
Remain Focused with a Positive Attitude
Where does your focus currently lie – internally or externally? If you find you are continually distracted, or being drawn away from the important things in your life, put support systems in place to remain focused and on track.
Think and Act “Outside the Square”
Are you stuck in a rut? Doing something differently, or looking for new ways and ideas, opens up all kinds of opportunities and possibilities that often wouldn’t be discovered with a closed mind.
Be Realistic
Let’s face it – life is full of all kinds of ups and downs. Now is a good time to take a reality check. Ensure you are living within your means and acting in accordance with your personal and professional values. Have the courage to act responsibly, authentically and with integrity.
Be Flexible and Embrace Change
As one door closes, another one often opens. Be prepared to adapt, be flexible and willing to change. While the loss of a job can be devastating, it can also be the chance to retrain, gain new skills and knowledge, or even lead to a change of direction in your life or career.
Self-care
Now more than ever, it’s important to take care of yourself, enabling you to take care of others. If you don’t look after yourself first, how can you manage a business, or raise a family?
Communication is the Key
Remember, you are not alone. We are experiencing global recession. It’s important to talk through your thoughts and feelings with family, friends, a Life or Business Coach or similar professional. Remember that a problem shared is a problem halved – discussing your concerns, fears and ideas with someone else often results in a solution or leads to the formation of an action plan.
Foster a Sense of Community
Our sense of community has never been more important. The rise of home and communal vegetable gardens is one of many ways you can act locally while thinking globally, with the added benefit of eating fresh produce and saving money.
How you choose to survive this recession is up to you: Are you on the ropes, ready to throw the towel in? Or are you ready to come out fighting, to stand up, raise your hand and head high and be declared a winner? The choice is yours.
Subscribe to:
Posts (Atom)
