Money Management Strategies

Implementing money management strategies into ordinary daily living can help those in the middle income brackets, and other financial brackets, too, effectively plan for the future. With the bad news circulating about the future of Social Security and Medicare, it is vital that the American public take their health care and financial retirement plans into their own hands. It is also the responsibility of American consumers to pay down debt and to cease living off of credit. As many head into their middle ages, they are not only carrying the concern of having little or no social security benefits in the future, but also about escalating health costs, and excessive debt is only compounding the problem. However, there is really no need to panic or to worry excessively, there are specific steps that can be taken in securing financial stability for the near future and for the years ahead.

Statistics are proving that the average household in the United States is carrying over $2000 in debt annually. Some statistics cite that the actual figure is more like $8000. Until this year, bankruptcies were at all time highs, indicating that there truly is a debt concern for average consumers. Money management tips for debt managing is perhaps the first thing to consider when looking for ways to provide financial security for the future. The first step for debt reduction is debt awareness. Find out how much debt is actually owed on credit cards and automobiles and let the figure sink into reality. Next, resolve to stop putting things that are not a necessity onto personal credit cards, accumulating even more debt. Other money management strategies for reducing debt could also include transferring existing balances into loans that are offered at lower interest rates, such as debt consolidation liens or home equity loans.

Resolving to live on a budget is the next mental activity that should be addressed when looking at money management tips. Carefully examining expenses and income are the first steps to creating a budget. Once a realistic picture of where money is being spent and how much money is coming into the house hold is reached, look for ways to cut back in areas or spend less. Put dollar figures to groceries, clothing, and entertainment and stick to it. Every budget should also include money management strategies for savings. A savings account should not be considered as a last line budgetary item. Quite the opposite is true. Paying oneself first is being proactive in providing for the future. A minimum of ten percent should be the primary payment into a savings account or retirement fund. If families are getting a later start in life with creating a budget and actively saving, then the percentage should increase.

Monetary investments are also ways to save money and gain financial security for the future. There are many different investment money management strategies for consideration. It would be wise to first study the options available, including growth funds, mutual funds, and the bonds market. The stock market can sometimes be volatile, so it is recommended that no retirement or savings money be used when trading in the open markets. It is also wise to get expert help before investing in the stock market. There are many resources that will teach the basics of stock market investments, and most of these resources are available online, through the Internet.

Tithing may not be considered as one of the important and effective money management tips, but tithing is exactly what families need to do to prove that their allegiances are in the right place. God does not bargain with man over financial outcomes, but He does make promises concerning the physical needs and welfare of His own. In the Old Testament, tithing was commanded, and the tradition was followed through into the New Testament times. Even Christ supported the act of giving to support others. "Then Jesus beholding him loved him and said unto him, "One thing thou lackest: go thy way, sell whatesoever thou hast, and give to the poor; and thou shalt have treasure in heaven: and come, take up the cross and follow me." (Mark 10:21) When we are faithful to give to the Lord's people and causes, He is faithful to continue to supply. "But lay up for yourselves treasures in heaven, where neither moth nor rust doth corrupt and where thieves do not break through nor steal." (Matthew 6:20)

There are professional agencies, of different varieties, that also offer help with money management strategies. These financial help services can range from professional investment experts and agencies to consumer debt counseling, and everywhere in between. If managing money has been a difficult task in the past, perhaps seeking the advice and guidance of a professional would be something to consider. First evaluate what the primary needs are such as debt elimination, creating a budget, or looking for investment opportunities, then contact an agency that will address these personal concerns. The Internet is a good place to begin researching money management tips and agencies that offer financial services.

Make Money From Internet Businesses

A person can find a way to make money from Internet businesses that will fit whatever interest he or she wishes to pursue, and allows the individual to do the work during the hours he or she chooses. For the young mom or dad who is still willing to put in a full day's work but wants to do it from home, the online business is a good option. Even though the hours spent doing the work are the same, there is no commute, no wardrobe issues, and no restrictions as to the particular hours a person must put in. An early riser may want to make money from online businesses at 6:00 a.m. instead of beginning at 8:00 in the morning, or the person who likes to work at night can choose to begin in the afternoon. However, this kind of work takes a self-motivated and self-disciplined person who will be able to get the work done regardless of whatever else may be going on.

Some of the people who make money from online businesses are making telephone or e-mail contacts all day to either recruit new participants in the business, or to sell a product. For those who enjoy a lot of personal interaction, this type of business suits them very well. They are provided a website by the company where prospective sales associates or customers can view the products being sold. When the business involves recruiting new people to sell the product, there are incentives in place to getting as many people as possible to join the sales force. The recruiter will get paid something from the sales of everyone who comes in under him besides the commissions from his own sales.

Those people who do not enjoy talking to people all day, will find there are other ways to make money from Internet businesses. There are some, where the product can be sold on line only. These businesses require marketing the product on the Internet through advertising. Internet marketing will include having a website that can be found through a search engine. This advertising strategy requires the seller to either learn the skills required to choose effective key words and descriptive phrases, or hire someone to do it for him. Either way, getting a good place on the pages of a search engine can make a difference in the kind of revenue he will realize. Money is necessary for survival in our society, but the Christian must remember to keep the importance of coin in its proper place. "But Peter said unto him, Thy money perish with thee, because thou hast thought that the gift of God may be purchased with money." (Act 8:20)

For the traveler, there is still another way to make money from online businesses. There are businesses on the web looking for folks who can sell travel packages. These packages include trips to places all over the world at discounted prices. The up front cost is a bit steep, but in the end the savings can be substantial. This business requires telephone calls to prospects, and sometimes several calls back before a prospect makes the decision to become part of the business. The person who is a "born salesman" type will not be discouraged by the repeated turn-downs, and will persevere until there are enough people he brings into the fold to ensure he will make money from Internet businesses.

The products a person can sell to make money from Internet businesses are as many and varied as things that are found in the local mall. Personal grooming products and health products are now easily purchased with one's computer. Flowers for special occasions, or home decorating items can be ordered with a click of a mouse. The person with a local store who wants to expand can obtain a web site and join those who make money from online businesses. They can fill online orders quickly, and expand their customer base substantially.

For those persons who want to target a specific market that coincides with their beliefs or philosophy, it is possible to make money from online businesses that reflect those ideals. For instance, there are many kinds of Christian items that can be sold as easily on the Internet as through a store: Bibles, candles, pictures, wall plaques, etc. are items that have a constant customer base. Christian books in several genres are another possibility for items that fit that particular niche. Spreading the word without preaching to people is a gentle way to get people to thinking about their spiritual lives.

When a person has things in her home that are still good, but she has no use for any more, there is an alternative to the old-fashioned garage sale. She can make money through Internet businesses that sell or auction stuff off online. That can be taken a step farther and she can accept items from other people to sell and open her own store. Just as with any other of the ways to make money from Internet businesses, there are rules of conduct and protocols that must be followed to be successful. Records must be kept, items properly packed and insured, and deliveries made promptly to build a reputation of reliability.

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