Daily we make little decisions that impact our future. Our parents warned us that the decisions we made in our past would directly affect our choices or lack of choices as adults.  In other words, there are consequences that we pay because of our past decisions. Unfortunately, our past decisions and choices can determine what we will reap or sow in the future. So how do our past financial choices impact where we are today? It’s understanding that simple things matter. Those simple things may be choices, behaviors, habits, relationships, attitudes, or words. So how do all of this relate to money or our finances? Every day you have an opportunity to make small money decisions that can bring positive financial outcomes. Simple, wise, common sense decisions you make today prepare you for opportunities in the future.  There are some simple things you can do right now that can change your financial situation. Keep reading, and you will understand that it’s the simple things that we do that make a difference and matter.

Plan – Each month plan how you will spend your incoming money.  Know exactly what you make. Write down every bill or expense that is due weekly, monthly, quarterly, and yearly.  Making a decision not to know your financial state is downright foolish, and can put you in financial ruin. Therefore, come up with a spending plan that tracks all incoming and outgoing money each month.

Track – Get receipts daily, and write down what you spend.  Eliminate debt by knowing what, where, and how you are spending.  Keep receipts in an envelope labeled by the month.  If you forget your receipt, write the date, item, and amount on a piece of paper and put it in the envelope.  Each month add up your receipts and see how you’re spending your money. How can you save if you do not know what you make and spend?  

Save – Come up with short, mid, and long term goals for your savings.  Act as if the money doesn’t exist. Do not touch it unless there is an extreme emergency.  Saving can be as simple as putting away $50 a month, which is $600 a year. It really is the simple habits that make a difference.

Give – “It is better to give than to receive.” Whether you’re giving your money, time, gifts, resources, or knowledge – you are sowing blessings.  Stop thinking that you don’t have anything to give because your funds are limited or you don’t believe you have a gift or talent.  Pray for guidance on how you can contribute and enrich an organization or life—daily, monthly and yearly.

Live on less – Just because you make it doesn’t mean you have to spend it!  As your income grows, continue to live on less.  Pretend you didn’t get that raise or bonus, and save and invest the extra money you earn.  Stop trying to keep up with your family, friends, and co-workers.  

Today’s lesson: make life simple, pay attention, and live on less. It really is the simple things that matter!  

Sharman Lawson a columnist on Fabulously40, and a financial coach, speaker, and author of the book 12 Steps to Eliminate Debt Forever! Visit her website: http://www.freedomconceptsusa.com./

Are you going to make a New Year’s Resolution this coming year?  So you want to change your life? Looking to make it better? Every year good intelligent individuals make New Year’s Resolutions with every intention of following through with their goals. Sorry to say, within a short period of time the motivation and drive have left, and the vision, desire, and eagerness are thrown out the window.  So do you really want to reach your goals this year? Are you truly tired of doing the same thing and getting the  same results?  

Whether your goal is to eliminate debt, lose weight, go back to school, start exercising, purchase a home, car, get a man, or start a new career, I’m going to share a simple strategy with steps you can do immediately to get you started in the right direction. Keep reading!  

Make a Decision
The first step in any process is to make a firm decision.  If no decision is made then you sit in limbo, wishy-washy, and unstable in all of your ways.  Know what you want to do, where you want to go and do it!

Have a Plan
You know the old saying “if you fail to plan you plan to fail.”  Well, it’s true!  Therefore, clearly define your goals; write down a strategy plan, and come up with a time-line to get you there.

Be Committed
Regardless of the valley, peaks, storms, and setbacks in life, and there will be many, keep moving forward.  Success means to make progress.  If you stumble or fall, get up, and keep moving towards your goal.  If you must crawl at first, do it!  Then walk until you can run!

Get Accountability
Have someone to hold you accountable to your New Year’s Resolution.  I call it an “accountability partner.”  Allow someone you trust and can confide in to keep you moving towards your goal, and to follow up with you.

If you want a wealthier, healthier, and more balanced New Year, do something about it.  Faith is good, but usually you need some action behind it.  You want change?  You want to see progress? Then make a firm decision, work your plan, stay committed, and watch your resolution become reality.

Sharman Lawson a columnist on Fabulously40, and a financial coach, speaker, and author of the book 12 Steps to Eliminate Debt Forever! Visit her website: http://www.freedomconceptsusa.com./

Christmas is the time of year to be cheerful! Well, it’s supposed to be, correct? Sadly, because of debt, being jolly isn’t a part of a lot of American’s emotions during the holidays.  Christmas comes around each year, but how many people really plan to have a zero-debt holiday?  Because of money issues, the most wonderful time of the year has become the “Grinch.”  There are steps you can take to guarantee you have a zero-debt Christmas. Keep reading and learn how.

First step, use cash instead of credit!  That means changing your spending habits. Start by making fewer trips to the bank, and withdraw only the exact amount of money you need for purchases.  The best method to achieve this is by developing a Christmas list in advance. Also, January is the best time to begin saving for December’s spending.  Matter of fact, set up a saving’s plan exclusively for Christmas spending from January to November.  Next, decide the full amount you want to spend on gifts, and divide it by the number eleven. For example, if the shopping amount is $500.00 divide it by eleven, which is $45.45 per month.  Lastly, set up a separate bank account to deposit the $45.45 automatically, or set the money aside in an envelope each month and hide it.  If you stick to your plan, by December you will have $500.00 set aside for Christmas shopping!  

A few additional ways to enjoy a “zero-debt” Christmas is to use a piggy bank to store spare change. Let the money accumulate, then deposit it every month into a bank account.  At the end of the year you will be surprised to see how much you have saved.  Additionally, give baked goodies as gifts or a hand-made gift. A hand-made card, picture or painting is priceless!

Don’t let debt spoil your holidays.  Plan ahead, use “cash” not credit and your creative talents, and you will have a very Merry Christmas!

Sharman Lawson a columnist on Fabulously40, and a financial coach, speaker, and author of the book 12 Steps to Eliminate Debt Forever! Visit her website: http://www.freedomconceptsusa.com./

A few years ago, a participant in a debt-free support group I use to have was 23 years old, $50,000 in debt, scared, and living with a lot of fear and shame.  Bad choices with her money had left her weary and without hope.  After completing my 12 week support group that walked her through the process to eliminate debt, she was amazed how far she had come in a short period of time.  When I asked how the support group changed her life she answered, “I had lived my whole life spending my money as if I didn’t have a future, but now I can start living like I have one.”  

What about you, have you been living like you don’t have a future?  Have you put off saving because you don’t know where to start? How long will you make excuses?  I have probably heard every excuse there is.  I don’t make enough money. I want to enjoy today, because I could die tomorrow.  I’ll save when I’m older.  Please don’t let your situation or circumstance stop you from saving and planning ahead.  Even if you currently have debt, you can start preparing for your future now.  

Here are a few suggestions to get you started:
• Distinguish between your needs and wants
• Identify waste in your spending, and make some changes
• Track your money on a daily basis to see where it goes
• Have a spending plan for incoming and outgoing money
• Save a set amount each month consistently
• Use automatic deposit to save each month
• Pretend your savings doesn’t exist—don’t touch it!

Start out by saving a small amount, but be consistent.  Saving just $25 a week turns into $1300 in a year, $13,000 in ten years, and that’s without adding interest.  It might not seem like a whole lot, but it’s more than you had yesterday.

Don’t let debt rob you of your future! Make a decision today to change your mind, habits, and spending, and start saving.  Bottom line: start saving like you have a future, because you do!

Sharman Lawson a columnist on Fabulously40, and a financial coach, speaker, and author of the book 12 Steps to Eliminate Debt Forever! Visit her website: http://www.freedomconceptsusa.com./

Building wealth is especially challenging during these hard economic times.  Both banks and credit unions offer very similar financial services, but there are some differences.  How do you know which one is better?  Here are three important points to consider when making your choice.  First, find out who owns the financial institution?  Next, compare interest rates on checking, savings, money markets, IRA’s, bonds and CDs?  Also, ask about the interest rates and fees for loans.  Finally, ask what the ATM and debit fees are and where the machines are located? So the question is where should you stash your cash?

Credit Unions

Credit unions are member owned and not-for-profit. Usually, you will enjoy good customer service, since you are part owner.  The money they bring in is directed back to the members.  The Credit Union National Association (CUNA) says, “That interest rates at for auto loans at credit unions were 1.8 lower than banks.  Money market accounts were found to have 1.06 higher interest rates than banks.”  Please check with your local financial institution in order to compare the most current interest rates.  One disadvantage is that they do not offer all the financial services that a bank is able to offer.  However, today, many credit unions have partnered with other credit unions, so members can access more branches and ATMs.  In the past, a person could only join a credit union through their employer.  But now schools, churches and community associations are forming their own credit unions.

Banks

They’re accessible 24 hours a day and are available in grocery stores, malls and gas stations.  Banks are publicly traded companies and stockholder owned.  They are designed for profit and operate to make revenue using their member’s money.  One advantage banks have is that they do not have membership restrictions.  This means that anyone can utilize their services.  Also, banks are usually much larger than credit unions and have more conveniently located branches and ATMs.  

Credit unions are smaller and have more of a family feel.  Banks are larger and more convenient.  One is not necessarily better than the other.  It really comes down to what your needs are.  In any case, you now have the all the facts that will assist you in making a smart decision.  The question is, “Where will you stash your cash?”

Sharman Lawson a columnist on Fabulously40, and a financial coach, speaker, and author of the book 12 Steps to Eliminate Debt Forever! Visit her website: http://www.freedomconceptsusa.com./

Everyone you talk to about money and finances have their own way of dealing with it. In this life, some people have large amounts of money, while others have too little. Regardless if you find yourself having too much or too little money, you still need a plan for how to use with it. And, if you are single you may have distinctive challenges when it comes to credit, debt, and money—even more so if you happen to be a single parent. When you have one income, and may not have the fortune of receiving child support, you will be challenged financially. Therefore, if you happen to be single or if you are a single parent, it is really about stretching your finances as far as they can possibly go. Continue reading, the tips below will help you save money, especially if you are single.  

Make Snacks
Snacks can be costly. On a weekly basis you can easily spend $6–10 on snacks. Make your own cakes, cookies, fries, popcorn, trail mix, and save money. Also, instead of buying individually wrapped snacks, buy them in bulk and use zip-loc bags.  

Buy Generic
Several generic brands are essentially better then name brand in cost and taste. Start slowly buying generic products. If you never use them, how will you know if you like them? If you have kids, don’t let them know they are generic. Just see how they like them. Kids can adjust to most things, if you do not make a huge deal of it. Try mixing brand name items with part generic items to start. Not only will you save money, but you may actually like it.

Cook More
Cook more to save money. Start using your kids to help you cook, too. Come up with a weekly menu, and purchase food based on your menu. Cook two-to-three casseroles with three-to-four vegetables. Depending on how much you eat or the size of your family, you may only have to cook one or two times during the week.

Drink Water
Do you drink water or sodas, juice, or even alcohol? Drink more water. Water is better, less expensive (can be free), and will save you a fortune by drinking more of it.

Get a Used Car
Okay, new vehicles look wonderful and allegedly they smell excellent too. Thing is, if you really want to save money, a used car is best long-term. If you purchase a used car you can either pay it off upfront or have lesser payments. Also, your interest, tags, insurance and fees will be less costly.

Get a Roommate
Think “outside the box.” Need extra money? Get a roommate. Have someone you can trust, rely on, and you both can be assets to each other. The plus, you may find a really good friend and confidante, and you have created another stream of income each month.

Sharman Lawson a columnist on Fabulously40, and a financial coach, speaker, and author of the book 12 Steps to Eliminate Debt Forever! Visit her website: http://www.freedomconceptsusa.com./