Dealing with debt and curbing your overspending


Do you struggle when dealing with debt? Perhaps you’re looking for ways to curb your overspending. Certainly the burden of debt can be stressful. Surely life would be easier if you could find a way to reduce your debt burden? The problem is where do you start?

If you’re serious about dealing with debt then a good start point is to take a close look at what you’re spending. There are things you must have like a roof over your head, heating and light, and food on the table. Then there are those things you buy that you really could live without. Even for things you must have you can often overspend on these items in you’re not careful.

It is a fact that overspending is one of the main reasons why people get themselves into debt. You’re in the shopping mall or on the internet and you see something that is so tempting and you can’t help yourself. Buying is so easy with your credit card and so you do without considering whether you really need it or whether you can truly afford it.

Well that’s a habit you must change if ever want to be in control of your money and your life. Yes, it is a hard habit to break if it’s been part of the way you live your life for so long. That’s understandable but it’s not impossible. It can be done and it’s an important step on the road to dealing with debt.

So here are a few simple steps to help you to stop spending, start saving and live a life geared toward achieving financial freedom.

1. Admit you have a problem

The first step to curb your overspending habit is to admit that you have a problem. You can’t eliminate a problem until you recognize you have one.

Once you admit to yourself that you have a problem then you need to understand where your money is going. Unless you make a point of identifying where your money is going then it will simply disappear without you knowing where it’s gone.

Keep a journal to record your spending on a daily basis to keep track of everything you spend. Write it down and at the end of each week review what you’ve spent and where your money has gone. You might find that this is a real eye–opener for you.

With this approach you will be able to see what you’re spending on stuff that may not be absolutely necessary. Then it will be easier to develop a clear and concise spending plan whereby you start living within our means. Having a plan can then be the basis by which you start developing the self-discipline to allow you to break your overspending habit.

2. Make financial goals

In developing your spending plan you must also set some realistic financial goals for you and, assuming you have one, your family.

One goal should be to ‘pay yourself first’. What does this mean? It means as soon as you get paid you set a small proportion of your income aside immediately. You could set aside say 10% of your income. That can be used to reduce your debt burden initially and later, when your situation has improved, for savings each month.

By setting money aside when you get paid, it’s a bit like taxes and other deductions against you pay. They all get taken off and you get used to living on what’s left. Putting something aside is an important part of any personal financial spending plan.

Keep your financial goals in mind each and every time you’re tempted to make an impulse purchase or overspend on something you can live without. This will encourage you to make better spending decisions.

And when you’ve reached one of your financial goals, don’t forget to give yourself a little reward. Don’t go overboard of course but achieving a goal will make the reward all the sweeter and it will encourage you in the development of good money habits.

3. Cut up your credit cards

Credit cards can be a convenient medium for making payments but they can also be weapons of mass wealth destruction. When you have a serious debt problem don’t take a credit card out shopping.

Yes, they are a big part of today’s culture and it is might seem hard to imagine life without one. However studies have shown that people spend a larger amount when using a credit card because it doesn’t register with them that they are spending real money. And that’s why they are dangerous.

Essentially using a credit card is simply postponing the inevitable. It is actually real money and eventually the bill for your purchases will have to be paid.

So take the impulse out of shopping and start planning for purchases ahead of time by saving up the cash. You will be surprised at how much you save by not using plastic.

4. Seek out support

When you’re trying to break a habit, it is important to surround yourself with good people who will encourage you and steer you in the right direction when you’re tempted.

That means when you’re going shopping make sure you take someone with you who’s not afraid to remind you that you don’t need whatever it is you’re thinking of buying. Someone you trust who will be your conscience, if you like. Someone who knows your aims and will help you achieve them.

If there is someone who will hold you accountable for your actions, who forces you to recognize your bad habits then this will make your financial goals much easier to accomplish.

5. Take up a hobby

Our shopping habits often stem from the fact that we are simply bored. This is particularly true with shopping online. You’re sitting at home bored so you pick up your iPad or similar tablet and start browsing. Sites like Amazon are very good at closing a sale once they’ve got you. It’s all so tempting. And we’re all guilty of impulse shopping on the internet, at least to some degree.

So next time you’re bored, find something else to do. You could take a walk, go to the gym for some exercise, watch a film, read a book, you could set up a blog and share your thoughts with the world or perhaps just volunteer to help a charity. There are plenty of other possibilities, so just do something other than shopping that appeals to you.

In short, take up a hobby or two and keep your money in the bank.

Conclusion

This is not an exhaustive list but these few tips should help you to curb your overspending and develop better habits with money. If you change your ways you can start winning with money.

Don’t try to ‘boil the ocean’ just take small steps on a daily basis and this will help you kick your impulsive shopping habits. You need to start thinking about where your money is going and where you’d like it to be.

Start today and you’ll be a smart shopper in no time. With a little self-discipline you can go from being a complete spendthrift to becoming a super-saver quicker than you ever thought possible. Become a super-saver and one day you will achieve financial freedom. Achieve that and your life will be a lot sweeter and a lot less stressful.

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© Roy J Sutton and Mann Island Media Limited 2017. All Rights Reserved.

How to speak so people will listen

There’s an old saying; it’s not just what you say but the way that you say it. How something is said is as important as the words being spoken. We can use exactly the same words in different ways and we will deliver completely different messages. How something is said also has an impact on whether people listen to us or not. In the video included here Mr Julian Treasure offers some excellent insight into how to speak so people will listen.

His underlying message in the video is that we must learn to speak with power if we are to get our messages across to other people.

Julian Treasure suggests there are a number of habits we must avoid if we are to speak with power. He says in his view there are Seven Deadly Sins of Speaking, albeit he does note that this is not intended to be an exhaustive list. The deadly seven are:-

  1. Gossip: Speaking in an unkind way about other people.
  2. Judging: People unlikely to listen if they feel they’re being judged.
  3. Negativity: It’s hard to listen to people with a negative attitude.
  4. Complaining: It’s hard to listen to a moaner too.
  5. Excuses: You won’t be taken seriously if blame is always elsewhere.
  6. Exaggeration: This can border on lying and who listens to a liar?
  7. Dogmatism: Where facts are confused with opinions.

So if we suffer from all or some of these deadly sins, can we change? Yes, of course but it takes a little work and a better understanding of how improvements can be achieved.

In the video Julian explains that there are four cornerstones to powerful speech. He uses the mnemonic HAIL to explain these as follows:-

  1. Honesty : Being clear and straight
  2. Authenticity : Being real and being yourself
  3. Integrity : Being true to your word
  4. Love : Wishing people well. We all like to be appreciated.

However understanding these cornerstones is only the beginning of the process because, as stated earlier, how you say what you’ve got to say is important too.

Julian then discusses aspects of speaking such as Register; Timbre; Prosody; Pace; Pitch; Volume; and the use of Silence. To address many of these issues you may need the help of a voice coach of course but knowing about them is a good start.

Julian also suggests some simple voice warm-up exercises for you to use before you give a speech. They’re so easy you can use them immediately.

Being a TEDTalk you’d expect this video to be both interesting and useful and it doesn’t disappoint. I found Julian Treasure’s ideas fascinating and if you’re someone who regularly speaks in front of an audience, large or small, then I am confident that you’ll find this video helpful.

This video has had almost 14 million views on YouTube so clearly Julian Treasure’s ideas have resonated with a significant audience already.

Other Articles:

What is the key to success?

Visibility: Does it matter?

Life is short and it’s later than you think

Powerful words change lives

11 tips for improving quality of life

© Roy J Sutton and Mann Island Media Limited 2017. All Rights Reserved.

21 proverbs, sayings and what they all mean

Proverbs are simple sayings that express an essential truth based on common sense, experience or the wisdom of the ancients. Proverbs that describe a basic rule of conduct are particularly useful and well-worth remembering. So here are 21 very useful and thought-provoking proverbs, sayings and an indication of what they all mean. You will do well to remember all of these:-

1. Be contrary; be known

To be successful visibility matters. That means you must stand out in the crowd. And you can’t stand out in the crowd if you’re just like everyone else. You must be an original not a copy.

2. Man who chases two rabbits catches neither

Learn to keep the main thing the main thing. Focus matters if you want to be successful. Try to do too many things and you won’t do any of them very well. And if you fail to do anything well then you will not be successful.

3. Knowledge is power

Learning is a lifelong process and you should be educating yourself constantly. However there is a more important point here. When negotiating in business the more you know about the other side, their needs, the pressures their under, and what they’re willing to pay and/or concede, the more likely you are to get what you want. Never underestimate the power of information.

4. When in Rome do as the Romans do

If you want to be successful in business around the world then show some respect for other people and the way they do things. Culture is simply the way things are done around here. No one culture is better than another. They are just different that’s all. So just because something might appear odd relative to what is considered ‘normal’ in your culture doesn’t make it wrong. Embrace difference and enjoy every new cultural experience.

5. Fortune favours the brave

If you want to live life to the full then it starts outside your comfort zone. Go for the low hanging fruit and the easy tasks and you won’t grow. Fail to take any risks and you’re unlikely to experience any significant rewards either. You can only be successful if you go after what you really want and that means you must take a few risks along the way. Remember this; risk and reward go together.

6. Hope for the best; prepare for the worst

If you want to be successful then be prepared for the rain because occasionally it will rain. Hope for permanent sunshine by all means but make sure you’re ready for the days when the sun refuses to shine and you need an umbrella.

7. A picture’s worth a thousand words

To be successful being able to communicate effectively is an important skill to develop. That means you need to know how to get a message across and often the most powerful way to deliver a message and make a point is often with a picture.

8. There’s no such thing as a free lunch

Everything comes with a price tag. There will always be a cost somewhere even if it’s not immediately apparent. The cost may not be financial but there will be a cost. Make sure you know what it is and make sure you’re willing to pray the price before you agree to anything.

9. Actions speak louder than words

Talk is cheap. It’s not what you say; it’s what you do and what you deliver that will make a difference. And if you want to be successful then you will need to make a difference.

10. Practice makes perfect

Every master began as a complete beginner. Mastery is achieved by becoming a student of your craft and practising constantly until you are the best at what you do. And if you want to be successful then you will need to be amongst the best at what you do.

11. Easy come; easy go

You will only truly appreciate that which has cost you in blood, sweat and tears. Success obtained easily is difficult to sustain. Easy money is easily squandered. It’s almost like you feel you’re not entitled to it, if it all came too easy to you.

12. One man’s trash is another man’s treasure

As they say in the north of England, ‘There’s brass in muck’. Meaning just because something appears to be no longer of use doesn’t mean it can’t be put to good use and can’t represent an excellent business opportunity. Old furniture can be restored. An old bicycle frame can be used in the making of some other item. Money can be made from the oddest things.

13. Familiarity breeds contempt

If your career is starting to gain traction and you’ve been promoted to management then remember this; there must always be a little bit of distance between you and the troops you manage. You cannot be too familiar with people you manage if you want their respect. Yes, take an interest in people. Yes, show them you care occasionally. However you can’t be their buddy. That doesn’t work.

14. Don’t judge a book by its cover

First impressions can be powerful and often they can be accurate too. However they’re not always accurate so it is dangerous to form an opinion based on your first impression alone.

15. Don’t put all your eggs in one basket

When it comes to money and savings, diversity is the name of the game. As you become successful, a good income should follow. Make sure you start building some capital and make sure you spread it around a bit. Put all you financial eggs in one basket and calamity could follow.

16. The squeaky wheel gets the most oil

Don’t be afraid to complain when things aren’t right. If you want something resolved be prepared to make a noise. Wait patiently and you’re unlikely to find anyone keen to help you. They’re all too busy.

17. Honesty is the best policy

The problem with telling lies is that you need to have a very good memory and it’s very easy to get caught out. Tell the truth and you don’t need to remember anything. All you have to do is say exactly what happened or what you said, et cetera. Being honest makes life easier and it also makes life less stressful.

18. You can lead a horse to water but you can’t make it drink

There is only so much you can do for people. Offer to help them by all means but if they choose not to accept your offer then just leave it there. You can’t force someone to do something nor can you force them to accept your help or advice.

19. Keep friends close and enemies closer

There’s no point in fighting with your enemy. That won’t get you very far. It’s better to adopt cordial relations to keep them close. Keep them close and you can keep an eye on them. That way you’ll know what they’re up to and know what they’re planning too. Use your head not your heart in these matters.

20. Two heads are better than one

It is a fact that when people get their heads together the results are usually much better than one person’s thinking alone. Particularly with creative work, ideas bounce off each other and as those ideas come together the results can be exceptional.

21. Do unto others as you would have them do unto you

Treat other people in the way you’d prefer them to treat you. Show them respect and you’re much more likely to get their respect. Don’t be mean with people. You wouldn’t like it and neither will they. People will respond warmly to you if you are warm and kind to them.

Other Articles:

What is the key to success?

Visibility: Does it matter?

Life is short and it’s later than you think

Powerful words change lives

11 tips for improving quality of life

© Roy J Sutton and Mann Island Media Limited 2017. All Rights Reserved.

Here are 3 of life’s lessons learned

Many readers will be familiar with the lessons here but perhaps others will not. That’s fine but it all comes down to experience. However don’t feel you need to make all the mistakes yourself. You can choose to bear in mind the lessons others have learned. Well here are three of life’s lessons learned that you would do well to bear in mind.

1. Money can’t make you happy:

If you’re not happy without money then having money won’t change how you feel about yourself. We experience happiness not through the things we purchase but through our relationships with other people. People are social animals.

If you want to be happy you must never lose sight of the most important people in your life, i.e. family and friends. Spend time with them and enjoy their company, especially your children. Make the most of every minute you have with your loved ones.

Yes of course, go out there and make some money. Manage it carefully and invest some of it too. Enjoy your some of your money and buy nice things occasionally too. Life’s too short not to enjoy some of what you have from time to time.

However never focus on money and work to the exclusion of your family and friends. Without them you have nothing. Money is important but the people in your life are more important.

2. Life is too short to do a job you hate:

You should never do anything for money alone. Yes you need an income and yes it’s nice to have plenty of money in your pocket. Let’s face it we’d all like to have plenty of money, wouldn’t we? That’s human nature.

However no amount of money will compensate you for the drudgery of doing a job you hate. If you don’t enjoy what you’re doing, you won’t do it well. And if you don’t do it well eventually you’ll come unstuck. It will all end in tears. Now is that really what you want?

And then you must always remember that one day, like everyone else, you will die. What a shame it would be if on your death bed you felt you’d completely wasted your life.

So find a job you enjoy. If you haven’t found it yet keep looking. Don’t focus on money. Find the right job; do it well and add real value; and the money will follow.

3. Greed can lead to expensive mistakes:

There is a classic telephone scam, which never fails to catch some people out. The way it works is a salesman or woman in a ‘boiler room’ calls you with an offer for you to purchase an asset at a price which they’ll tell you will guarantee you an enormous profit.

It might be stocks and shares or it might be plots of land in some faraway place but the underlying message is always the same. Essentially they’ll tell you that next to no one knows about the availability of this asset just yet but when they do the price of the asset will go through the roof.

They’ll say it’s a steal and that you have the opportunity to get in on the ground floor and make an absolute killing but you have to buy today or you’ll miss out.

The sales people always sound friendly, very plausible and they’ll make it all sound very professional. They’ll even take a little time to make you feel that really they are trustworthy.

This scam plays on our greed and our gullibility. We believe what we’re being told because we want to believe it. We just love the idea that we might get something for nothing.

However if we part with our money that‘s the last we’ll see of it. The asset will be worthless or even non-existent. If we’re foolish enough to buy, we’ll also be put on a ‘sucker list’ which means we’ll get inundated with similar calls from other high-pressure sales people offering similar deals.

In reality any deal that sounds too good to be true, will prove to be too good to be true.

Never allow yourself to fall for it. And never, ever allow yourself to be bounced into buying anything just because they tell you that this deal is only available today.

Other Articles:

What is the key to success?

Visibility: Does it matter?

Life is short and it’s later than you think

Powerful words change lives

11 tips for improving quality of life

© Roy J Sutton and Mann Island Media Limited 2017. All Rights Reserved.

How you develop a Millionaire Mindset: Self-Discipline and Money

Financial success and whether you can achieve it does depend on the way you think about money. How you think about money matters, including the way you look at the debt you incur. You need to develop a millionaire mindset if you want to enjoy financial freedom. Money is a precious resource and you should learn to use it wisely.

We are all brought up from an early age to view money in a certain way and the way we are conditioned by our upbringing tends to stay with us unless we choose to change our thinking. You may have been brought up with poor money habits but that doesn’t mean you can’t change them. You can but it takes some effort from you.

If you are to start winning at the game of money then it starts with getting rid of any false ideas you may have and which may be holding you back. Your mind is a powerful weapon and it can help or hinder you on the road to financial freedom.

So reflect honestly on the way you think about money. Figure out exactly what money means to you and how you want it to affect your future.

What are your financial goals? Can you visualize yourself as prosperous and wealthy? Alternatively do you focus more on the negative aspects of your life, perhaps thinking it will never change?

Negative thoughts beget negative thoughts:

Think negatively about money and you’re unlikely ever to have much of it. Essentially you think of yourself as lacking in value and therefore unworthy of having that pot of gold of your own.

Thinking negative thoughts about your future will result in a future for you that is unexciting at best. It doesn’t have to be but to achieve anything it all starts with positive thinking. No one ever got anywhere with negative thinking.

Money isn’t everything, of course. However it is up there with oxygen for a life worth living. It won’t solve every problem, of course, but it does make living a little more comfortable and agreeable. Money can cause more harm than good on occasions but it can also be a force for good too.

So what do you want for your financial future and what does money mean to you and your life? Figuring that out would be a good start.

You don’t have to be a financial whizz-kid:

Money might seem intimidating at times but it’s actually quite simple. It’s just the way we keep score. Money is the medium through which value is stored. It’s easier than a barter system. We do stuff for other people and we’re paid. We can then spend the money we receive at our own convenience to live our own lives.

Money comes into our lives and money goes out again. The trick is to ensure that money in always exceeds money out. In other words you live within your means. So pay attention to the numbers and check them regularly. This is not complicated mathematics. If you can master basic addition, subtraction and percentages that’s about as complicated as it gets. You don’t need to be a mathematics major.

Your success in managing your money and improving your financial skills will depend on you taking small daily steps to gain control and manage your finances carefully. You don’t need to be a city whizz-kid, you just need to care enough to want to improve your situation.

Just keep at it and don’t give up.

Financial discipline won’t necessarily happen overnight but slow and steady progress can be achieved which will improve your situation over time and help you progress down the road to wealth and financial freedom.

If you are consistent in improving your daily money habits then eventually good money habits will become a part of your routine.

Not allocating the time is certainly a crime:

Managing your money and planning for your financial future doesn’t require a lot of time but it does require some of your time and you must set some time aside regularly to ensure that you don’t lose sight of your second most important resource.

For the record; your most important resource is time. You can always get more money but you can never get more time.

Your financial success will be limited only by the amount of time, dedication, attention and hard work you put into to looking after your money and improving your financial education.

Many of the world’s wealthiest people will tell you they didn’t get rich overnight. Unless they were lucky enough to inherit serious money, wealthy people spent years giving it their all and managing their money wisely.

Achieving financial freedom is a worthy goal for everyone. However it you want to be wealthy you’re going to have to work hard to accomplish your goal and allocate time regularly to keeping track of what you earn, what you save, what you invest and the performance of your investments.

Even if you have more modest goals like becoming debt free or building a nest egg for your retirement, you can’t avoid allocating a little time to the process on a regular basis.

Fail to put in the time and you’ll experience very limited success, if any at all.

Everyone has a choice:

Never assume your situation cannot be improved. It can, albeit it will require effort and discipline from you.

Regardless of your situation now, you do have a choice. You can choose to say, enough is enough. Your life can be better if you choose to make it better.

It really doesn’t matter how many mistakes you’ve made in the past. Your past mindset in relation to money doesn’t matter either. The ability to create a better future for you remains in your hands. All it takes is firstly a vision that your future can be better than your past. Secondly you need the will to start making incremental changes and improving things slowly.

You don’t need to take giant strides and set the world on fire. Small incremental steps are fine as long as you keep heading in the direction of your financial goals.

Your mind is a powerful tool which can make or break your success. Wealthy people, particularly self-made rich people, use what is known as the millionaire mindset. This is simply a way of thinking in relation to money and the building of wealth.

Wealthy people don’t purchase items with unsecured and expensive debt. If they need something they usually save up for it first and then pay with cash for their purchases later.

Ironically they often give money regularly to people less fortunate than themselves too. Helping others can be a virtuous circle. Being kind to others can pay handsome dividends. Everyone really can be a winner.

Conclusion:

Develop a positive mindset in relation to money. You’re as entitled as the next person to create wealth from the value you add. Think positively and you will notice a huge change in your life and your finances. Work on developing a millionaire mindset.

Further Reading:

If you want to develop a millionaire mindset then three books you should read are as follows:-

The Millionaire Mind by Thomas J Stanley

This book explores the ideas, beliefs and behaviour that have enabled millionaires to build and maintain their fortunes. The author uncovers surprising answers, showing what it is that makes the wealthy prosper while others feel dejected and beaten by life. If you have an entrepreneurial mind you’ll find this book interesting. It will provide you with road maps on how millionaires found their niches.

The Millionaire Next Door by Thomas J Stanley & William D Danko

According to this book, almost anyone with a steady job can amass a fortune. The authors suggest that most people have it wrong about how you become wealthy. They suggest that wealth is the result of hard work and living within your means. This book identifies seven traits which people with wealth tend to possess. These traits can be learned it says and if you copy what the wealthy do then you can be wealthy too.

Secrets of the Millionaire Mind by T Harv Eker

In this book you will learn how your childhood influences have shaped your financial destiny. You will also learn how to identify your own money blueprint and revise it not only to create success but, more importantly, to keep and grow your personal wealth. Finally you’ll be introduced to 17 specific ways rich people think and act. These include specific action steps for you to practice in order to increase your income and accumulate wealth. The essential message of this book is that if you think like rich people think and do what rich people do then there’s a very good chance that you will get rich too.

If wealth and achieving financial freedom is your aim then you should read these books. If you’d like to take a closer look at them then click on each of the embedded links above. I strongly recommend that you buy your own copies. I did and they have all proved to be extremely useful to me.

And don’t forget; if you don’t have time to read these books then buy the audio versions from Amazon and listen to them when you’re driving or on public transport. Again, click in the link in this paragraph.

Other Articles:

Money-Making Tips from the 50 Smartest People

Don’t fall for an easy money scam

How to save money with Amazon Refurbished

Money and How to Get Rich

How to save money

© Roy J Sutton and Mann Island Media Limited 2017. All Rights Reserved.

How Debt Prevents You from Achieving Your Dreams

Have you ever wondered what you would do with your money if you didn’t have any bills to pay? Imagine that just for a second. How does it feel? It can be fun to imagine occasionally and dream once in a while but most people think achieving your dreams is something for other people and not them. Most people quickly return to their daily routine thinking it could never happen to them so why bother?

It is a fact that as long as you bear significant levels of debt you’re a prisoner within the walls that debt effectively builds around you. The only way to see outside those walls is to change your mindset and realize that getting rid of your debt is the only way to real freedom.

Have you ever found yourself wishing you could take a nice vacation, put more money into a savings account, or maybe just have the ability to use your money to help others? To have the freedom to use your money in any way you choose? Wouldn’t that be a nice feeling? It’s called financial freedom.

Dreaming is one thing but when reality kicks in and you realize you that can’t do any of these things because you’re actually broke then it probably feels like a big letdown, doesn’t it?

Debt is a dream stealer:

The problem with debt is that it can take control of your life. And once it has taken control of your life it can cause you to lose hope. And of course, once hope is gone, your dreams will start to die and you can experience a vicious circle of misery.

The question is how can you regain hope? How can you break out of the circle of misery? It is possible, of course, but only when you realize that you have a choice. Change can happen buy only if you are prepared to change. Decide you’re going to change and do something about your situation and that can be the beginning of when you regain hope.

The problem with personal debt:

Debt can limit your life options in all sorts of ways. For instance it may prevent you from pursuing a career path that you would otherwise be passionate about.

Work is merely doing stuff for other people in exchange for money. That money then allows you to live and pay your bills. However if you’re bearing high levels of debt, that money must also go towards servicing the interest payments you’re obliged to pay on that debt. So in order to keep financially afloat you must earn more. To put it another way, you must run faster just to stand still.

This is where debt limits options. Ironic perhaps but true, more options tend to open up when you aren’t constantly pressured to ensure you have a certain level of income each month. Debt has the ability to keep you stranded in a job you hate just because you cannot risk having insufficient income.

Why is that so? Well suppose you make a decision on your ideal career but you realize it will mean you re-training or taking another professional qualification. Perhaps it would mean you returning to full-time education for a period of time, say one year or two years.

In the long term that may increase your earning potential but when you’re carrying debt your focus is on the short term and making sure you can meet the interest and debt repayment schedule. So you can’t go in the direction you’d like to go because you can’t put your current income at risk.

Essentially debt is a form of slavery. It is financial slavery. Yes there are times when it cannot be avoided. Taking out a mortgage to ensure your family has a home in which to live for instance. However all too often people experience a significant debt burden for no other reason than they’ve spent far too much money they didn’t have on things they didn’t need or could have lived without. And in doing so they’ve used unsecured debt like credit cards with extortionately high interest rates.

Debt can be a source of stress:

Another way to think about debt is that the burden loads you down with stress and frustration. This can make it impossible for you to focus on those things that really matter in life such as spending time with family and friends. It can also mean you miss out on some of life’s more exciting experiences such as travel to interesting places.

Whilst carrying a debt burden, you’re not able to save, invest or give. It can be highly rewarding to give and help the less fortunate but with debt you will simply be further enriching people who are already wealthy.

Debt will steal your dreams and it can steal your life. It’s a form a bondage you can do without, so quit digging yourself into a hole and start a new chapter in your life.

Get out of debt as quickly as you can:

Whatever your mindset regarding the debt that surrounds you, remember it doesn’t have to be this way. You have the ability to change everything starting right NOW.

Don’t put it off until tomorrow. Get your act together, make a list of your debts (no matter how scary this is), and start working on a plan of action.

Discipline yourself. You will make mistakes, just don’t give up. Financial freedom and the ability to dream big can be within reach.

Further Reading:

At this point some further reading might appeal to you. If so, one book I recommend you read is The Richest Man in Babylon by George S. Clason.

This book is a very easy read and a timeless classic. It’s one of the most useful books I’ve ever read and essentially it contains the financial success secrets of the ancients.

This classic holds the secret to person wealth and financial freedom. This book holds the secrets to acquiring money; keeping money; and making sure your money is earning money. It will also provide you with a cure for empty pockets or a lean purse.

It’s well worth the cover price and you can check it out on Amazon if you CLICK HERE.

Other Articles:

Encourage kids to fail if you want them to succeed

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Life is short and it’s later than you think

Powerful words change lives

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© Roy J Sutton and Mann Island Media Limited 2017. All Rights Reserved.

 

21 thought-provoking quotes about being different

Anyone who has ever tried to be different will know how hard it can be to be accepted by others. The human condition has a fundamental need to feel secure and people who are not a reflection of ourselves can make us feel insecure. So being different is a tough gig. However there’s a lot to be said for standing out in the crowd. As the Arab proverb suggests, “be contrary; be known.” For every reader who likes to stand out in the crowd, here are 21 thought-provoking quotes about being different:-

  1. Never be afraid to be different. An original is more valuable than a copy. ~Roy Sutton
  2. When you’re the only sane person, you look like the only insane person. ~Criss Jami
  3. So you’re a little weird? Work it! A little different? Own it! Better to be a nerd than one of the herd! ~Mandy Hale
  4. To be successful one has to be one of three bees; the queen bee, the hardest working bee, or the bee that does not fit in. ~Suzy Kassem
  5. When you do something different, you are either blessed or cursed. ~Mehmet Murat ildan
  6. Everybody wants to make a difference, but nobody is willing to be different. ~Andy Andrews
  7. Tell them a lie big enough and they’ll worship you as a sage. Tell them a truth big enough and they’ll mock you. ~Abhijit Naskar
  8. The person who follows the crowd will usually go no further than the crowd. The person who walks alone is likely to find himself in places no one has ever seen before. ~Albert Einstein
  9. We spend so long trying to be what other people want, that when we look in the mirror, we see a stranger. ~Anthony T. Hincks
  10. We must never be afraid to be a sign of contradiction for the world. ~Mother Teresa
  11. Ordinary people are products of their environment and fit in. Artists transcend their environment and stand out. ~Oliver Gaspirtz
  12. Being different and thinking different makes a person unforgettable. History does not remember the forgettable. ~Suzy Kassem
  13. A person who is truly cool is a work of art. And remember, original works of art cost exponentially higher than imitations. Just take a look at the coolest people in history. They will always be a part of history for being extremely original individuals, not imitations. ~Suzy Kassem
  14. Go ahead and be ordinary. Eccentricity is extraordinary. ~ JT Sanz
  15. When you want to do something that isn’t the ‘norm’ you will be made to feel like you have a problem and if you hear it often enough then you start to believe it too. ~Radhika Vaz
  16. Strategy is about making choices; it’s about deliberately choosing to be different. ~Michael Porter
  17. I’m different than everyone else because everyone else is not me. ~ Julian Aguilar
  18. The psychology of individual creativity is about at least three different things. First, creativity is about thinking differently. Second, creativity is about feeling differently. Third, creativity is about focusing, or committing, differently. ~Max McKeown
  19. The beauty of life is to be different. Set yourself apart from the crowd, and flourish into the person you were meant to be. ~Julian Aguilar
  20. Originality is the key to being memorable. ~Suzy Kassem
  21. About Differences: Those who would believe in a higher power by whatever name must also believe that same higher power made all things. On that basis, people of good character will recognize that some people are different from ourselves, in colour, gender, speech, opinion, lifestyle, and in other ways. Different is not an evaluation. As I taught my children while they were growing up, “Different is only different.” Celebrate differences for therein lies the basis for much of what we learn in life. ~James Osborne

Other Articles:

What is the key to success?

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© Roy J Sutton and Mann Island Media Limited 2017. All Rights Reserved.

How to Create a Mind Map

Do you know how to create a mind map?

Mind mapping is a useful thinking tool and many readers will probably be familiar with the idea already. Originally developed by Tony Buzan and these days there are some great applications such as iMindMap that will allow you to develop powerful mind maps on your computer.

However you don’t necessarily need fancy technology to create a mind map. A mind map can be developed quite simply using a sheet of paper and a pencil. Which means you can develop one anywhere.

It’s just a matter of brainstorming and then linking your thoughts. And when you’re brainstorming the mind mapping approach can be both simple and effective.

In this video Tracy Gardner explains how to develop a mind map the easy way. If you’re not familiar with developing mind maps then this tutorial is worth watching and I recommend it.

Other Articles:

What is the key to success?

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© Roy J Sutton and Mann Island Media Limited 2017. All Rights Reserved.

How to find the right job for you

Do you enjoy your work? Do you have a job you love? Do you wake-up each morning filled with enthusiasm for the day ahead? Alternatively maybe you just feel your job allows you to earn an income but beyond that you can’t wait until 5pm when the working day is over? Perhaps you’re constantly asking how to find the right job for you? If that’s you then you’re not alone.

The acid test when you’re not sure is to ask yourself the lottery question. What does that mean? If means you ask yourself this, “If I won the lottery and money ceased to be an issue; would I continue to do the work I’m doing now or would I try something else?

Yes of course if you won the lottery you’d have a little fun with the money first, but eventually your life would need a sense of purpose and routine again. So how would you fill your time then?

If you enjoy what you do, and you are recognized as being very good at it, then you’ll do your job well and you’ll be successful at what you do. And if you enjoy what you do, you’ll never have to work a day in your life. Now how good would that be?

So if you’re not happy with your job right now, the next question to ask yourself is, “What do I really want to be?

To answer that question, you really need to consider:-

  1. What are you good at?
  2. What do you enjoy doing?

These are quite different things but if you can find the sweet spot between them then you have the basis for finding a job you’ll love. So the steps to job heaven are as follows:-

STEP 1: What are you good at?

Not merely competent but really good at? Think about that question carefully and be honest with yourself.

What activities are intuitive to you? Things you can do easily and readily without having to give them too much thought?

Ask friends and colleagues for their views, and ask them to be really honest with you. Ask people you work with about the tasks they consider you the absolutely, first choice ‘go to’ person?

Gather together this information and make a list.

STEP 2: What do you enjoy doing?

Then make a list of all the things you really enjoy doing.

Which activities really give you a buzz? What activities get you so absorbed that you really lose track of time? What activities would you do for free or as a hobby, if you couldn’t make a living at them?

Paul McCartney once said that if he couldn’t have made a living out of writing songs and playing music, he’d have done it as a hobby, simply because he loved it so much.

What activities make you feel the same way? Make that list and don’t be reasonable.

All this requires time for reflection and careful thought, as well as feedback from other people. So do give it the time it deserves.

Don’t jump to conclusions. You do want to ensure you get it right don’t you?

STEP 3: Where is the common ground between your lists?

When you have your two lists ready, the final step is to identify the common ground between them, the point at which the two lists intersect.

If you find an item that is contained on both lists then you have found the Holy Grail. Finding something you’re genuinely good at and have a real talent for, and which is also something you’d really enjoy, will give you the greatest chance of success.

It is essential you find the common ground between your lists because:-

  1. If you really enjoy it, you’ll stick with it.
  2. If you’re really good at it, someone will notice

And if you get it right, sometimes people will sprinkle fairy dust on you too.

Finding job heaven is never about luck. If you’re doing something you enjoy doing and you’re doing it well, you’ll stick with it long enough to get someone’s attention. And when you get their attention, you’ll dazzle them because you’re doing it well.

That’s not luck; it’s hard work, perseverance and timing.

Once you’ve identified what you want, the next question is, “How do you get it?” That will be the subject of another post.

Have you managed to find job heaven? If so, how did you succeed?

If you’ve any ideas you can share then that will really help your fellow readers.

Other Articles:

Money-Making Tips from the 50 Smartest People

Don’t fall for an easy money scam

How to save money with Amazon Refurbished

Money and How to Get Rich

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© Roy J Sutton and Mann Island Media Limited 2017. All Rights Reserved.

4 Signs your debt is out of control

Are you burdened with debt? If so, do you worry about how you’re going to pay the interests payments, let alone reduce the debt? Would you say your debt is out of control? Then again, perhaps you’re not sure whether it’s out of control or not?

Certainly debt is becoming an epidemic leaving those in its wake feeling desperate. It is a fact that debt enslaves you and the burden of debt will keep you awake at night. And of course debt can be extremely stressful, particularly when it feels like everything is out of control.

There are few things more terrifying than waking up each day knowing you owe thousands of dollars, pounds, dinars or yen in debt. Whether it’s credit card debt, car payments, student loans or any of the various forms of unsecured debt if will take you a lifetime to pay off and that’s a terrible burden to bear.

It you have any concerns about the levels of debt you bear, you’re not alone dear reader. This is a problem which affects many people from single moms struggling to make ends meet to CEOs of major corporations. Debt affects people from all walks of life. And it’s easy to get into a situation where suddenly you realize that you’re in over your head.

Now you may be wondering if there are signs that will suggest whether you’re heading for disaster?

If you are to enjoy peace of mind and a lifestyle lived within your means, then you must first acknowledge that you have a problem. Which in turn means you must resolve to dig your way out of the hole you’re in before it’s too late.

So what are the signs you must consider? Here are four:-

1. Living Payday to Payday:

Do you find yourself having no money immediately after you’ve been paid?

Perhaps this is an experience you’ve had recently? Your money comes in and your money goes straight out again. The result is you left wondering where it all went and why.

A recent statistic suggested that around 76% of Americans live this way. Perhaps that’s an exaggerated figure but probably not by much and it’s the same in many developed economies, people living beyond their means.

Now you work hard for your money don’t you? In that case, doesn’t it make sense to take control back and start managing your money wisely? Perhaps having a budget and living within your means?

2. Creditors are calling:

Ever had that experience where you owe people money and they’re knocking on your door demanding repayment? It’s not a nice experience that’s for sure. Collection calls can ruin your day and your reputation too.

Creditors call at the oddest hours because they want to ensure they catch you at home. They can often be aggressive and nasty too. This is stress you really don’t need.

If you get to the point where your bill has been sent to a debt collection agency because you can’t or won’t even make the minimum payment then you have a serious problem. This is when you know your life is getting into a real mess. And you really don’t need this much stress do you?

When creditors are calling this is a sign that your debt needs reducing and your household needs a budget.

It means you’re in a financial hole and so when you’re in a hole your first action must be to stop digging.

3. Impulse Spending:

Retailers love impulse spending and they have lots of tricks to bounce you into buying things on impulse. They place some item they know you can’t resist in a place you just can’t miss. You see it and you buy it. Well it’s hard to say No to your inner child, isn’t it? We all do it, occasionally.

The problem is if you buy stuff you don’t really need on impulse that’s money that could have been used to reduce your debt.

Impulse buys can lead to a mountain of debt if you’re not careful. The problem is you usually buy with a credit card which comes with very high interest rates. When you get the bill for your credit card if all you do is make minimum payment then the magic of compounding will very quickly turn a small debt into a large one.

If you can have your money budgeted out each month this can reduce the temptation for impulse buys because you have already told your money where it is going ahead of time.

It’s a good idea to know what you’re money is committed to and it’s an even better idea to say No to your inner child. Well it is if you what to avoid the stress that accompanies a debt burden.

4. Money Fights:

Possibly the greatest source of conflict in marriage is money, or lack of it.

Money fights tend to happen when you and your significant other are not on the same page regarding the flow of money in and out of the household.

Naturally this is a source of stress and frustration in the marriage and is one of the biggest causes of divorce today.

You both need to be on the same page where money is concerned. You both need to discuss money and make sure you agree a spending plan that will work for both of you, whilst minimizing the risk of incurring unnecessary debt. You should both know what to expect where money is concerned.

Conclusion:

If any of these signs sound familiar to you then it’s probably time to start thinking about how you can cut down on your spending and start getting rid of whatever debt burden you may have.

Dumping debt is not as hard as it may sound. It’s not easy of course but with careful planning and discipline it’s not difficult either.

A written budget is a good way to start pulling yourself up from the depths of debt despair. And you needn’t worry because there are plenty of resources out there to help you get started.

The hardest part is the change of mindset you’ll need. See yourself not as a spendthrift but as someone who chooses to manage and spend money wisely. Someone who lives according to a proper spending plan

If you stick to your spending plan you’ll be on the first leg of the journey towards a lifetime of financial freedom.

Financial freedom means no stress where money is concerned and not having to worry about how you’ll settle the next bill.

Financial freedom is peace of mind and that is wonderful thing. Even if you’re not there yet I’m sure you’ll recognize it as the ideal place to be.

Of course this is one opinion. What do you think? Do you have any suggestions of other signs people might consider? Do let us know. You could be of great service to other readers.

Other Articles:

Encourage kids to fail if you want them to succeed

Visibility: Does it matter?

Life is short and it’s later than you think

Powerful words change lives

11 tips for improving quality of life

© Roy J Sutton and Mann Island Media Limited 2017. All Rights Reserved.

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