Posts

,

TOP SECRET – Even Celebrities Do It!

Nowadays the new “F” word seems to be frugal. In our face pace society of instant gratification, the lost art of being frugal has almost been completely destroyed.

Take it from someone who grew up on dirt floors, no shoes, no running water, no bed and wasn’t sure where her next meal is coming from. Yep, that’s just scratching the surface of how I grew up in a third world country.

But like most people, I took several bottles of stupid pills and when I first landed on American soil, it lived up to every hope I had ever heard at that point in my life.

Today, I spend countless hours helping those in my community break free from debt, pay off loans and regain a sense of purpose outside of just paying the bills and living paycheck to paycheck.

I’m no celebrity, but today I want to share a few tips that even the rich and famous use in their daily lives and tips that we can all learn from in an effort to keep more of that hard earned money in our bank accounts.

Here is a brief list:

  1. Kelly Ripa and Mark Consuelos spent less than $200 to tie the knot in a Vegas Wedding Chapel.
  2. Actor Taylor Lautner who raked in millions in the “Twilight” film series, still lives at home with his parents
  3. Professional Tennis player, Rafael Nadal still enjoys hanging out at home after tennis tournaments.
  4. Jackie Chan and Tyra Banks have both been known to stock up on hotel soaps, shampoos and shower caps.
  5. Billionaire Facebook CEO Mark Zuckerburg prefers to drive his eco friendly Volkswagen GTI with manual transmission to his office each day.

These are all famous, popular actors, business people and celebrities who are making simple choices everyday to live frugally.

Somedays you have to go back, way back to move forward, so let’s go back to the basics and live frugally in order to pay off your debts. Once you become debt free, you will know what to do.

If this article has helped you or you know someone who many be encouraged by this article, please share with them and also connect with us on our Facebook. We would love to here how you live frugally.

To Your Success.

Karena

Pro Headshot

Karena Burgess, PB Karena has worked in Logistics, Budgeting and Bookkeeping for over 15 years. Recently, she acquired further certification and is now a professional freelance bookkeeper specializing in helping small businesses clear the numbers clutter and focus on building their business.

Share

3 Steps to making a Financial Budget

Just the word in and of itself scares most people, but a budget is a necessary “evil” for a successful financial life. Call me a nut case, but there is just something magical that happens when working with numbers. Helping other find clarity and understanding in their financial affairs has been a rewarding part of my life for as long as I can remember.

Soothing, is the word. Crunching numbers is soothing.

Now, if that sounds crazy to you, then I can respect that. We were all created with our own unique set of gifts and talents.

However, if you are the person that is making a lot of a little of money, but at the end of the day, you have no idea where it went! If you are the person who would like to get a better grip on your finances because you would like to go on a dream vacation! If you are the type of person that is just getting started and want to be successful, then I want to start you off with a five steps to making a financial budget work in your favor.

  1. Use a software to save you some time and avoid the headache-  One of the most easy to use tools available today for quick money management is Mint.  It’s simple, easy and it’s all online so you can login from practically anywhere in the world.
  2. Creating a budget generally requires three simple steps. 
    1. Identify how you are spending your money right now- this can be done, by simply logging your spending habits for 30 days, or better yet, print your bank statement from the last month, and that will speak louder than you might want to hear, but it will show you the facts.
    2. Track your money to ensure you are staying within budget. A simple way to do this is to set a dollar figure of how much you will be spending in each category and take it out in cash. For example, if you are a single and just starting out, then $30 per week for food is more than enough. Take out $30 cash, and go to the store to get your food. Simple choose not to spend any more money on food that week and in no time, you will develop a habit of telling your money where it should go.
    3. After you print out and evaluate your bank statement from last month, the next thing is to set goals so that you begin to break the cycle.
  3. Beware of luxuries dressed up as necessities. I can go on for days of how many times I’ve walk into that trap, so many times, it drove me into 6-figures worth of debt, wondering where and how did I get here and somehow, thinking I might never see the light of day of a debt free life ever again. Well some diligence paid off. We have been taught since kindergarten that we have more wants than needs. As adults, that doesn’t change, our needs are still only food, clothing and shelter. Pretty much everything else is a necessity.

The fact of the matter is budgeting is the only practical way to get a grip of your spending and make sure that your money is going where you want it to. And since money is always looking for a place to go, let your bank account be that place.

Be care of cash leaks such as ATM withdrawals and impulse spending. Review your budget often, and get assistance with your budget if number is not your strong suit.

By the way, if you found this article helpful, please share this with your friends on Facebook and leave us a comment below.

Stay Encouraged!

Pro Headshot

Karena Burgess

Share