Archive for November, 2011
Personal Finance – A Simple Personal Cashflow Strategy to Follow
Simple personal cash flow management beats out complicated every single time. You’ve probably met your share of people who have a lot of complicated knowledge about personal finance and all these ideas about how to achieve financial freedom, yet they’re broke or pretty close to it. It’s funny how this works, but when you think about it, smart people often have a very difficult time using their knowledge to create real life results.
This is because simple personal cash flow strategies are just a LOT more applicable to real life…especially when your commitment is tested. Let’s look at one simple personal cash flow management system that
The Four Buckets: A Simple Personal Cash Flow System
The four bucket personal cash flow system is so simple that once you get into the habit of using it, you can almost live off of it without having to refer to a written spending journal. It works like this:
1. Commit the first 10% of your income towards investing
2. Commit the second 10% of your income towards building cash reserves for the sake of emergencies or planned purchases.
3. Commit the third 10% of your income towards charitable giving
4. Commit the remaining 70% of your income towards living expenses.
Now, just a few things about the order here…don’t change it. One of the most common habits which broke people have is that they try to pay their expenses and then invest what’s left. This is a certain way to remain broke forever. If you want to start investing money towards building financial security, it MUST become a priority. If you think you can’t pay your expenses with only 70%, start with 5% in each of the other categories and work with that until you get your expenses down to 70 or less%.
However, don’t change the order, because that’s the secret to getting your financial habits turned around and getting out of the paycheck to paycheck trap. The other thing you might be tempted to change is the giving step. However, it might interest you to know that the marketer Dan Kennedy (also known as “The Millionaire Maker”) recently stated that giving was one of the most powerful wealth building strategies….so try it out before you dismiss it.
Keeping it Focused and Simple
I had mentioned that the four bucket personal cash flow system is so simple that you can almost live off of it without writing things down. However, you still need to keep a written spending journal if you want this simple personal cash flow system to work wonders for you. Writing down your spending will keep you focused and disciplined which is the key to long-term success in achieving financial freedom. You can start your simple personal cash flow system today and find out just how effective it really is.
Be successful!
Quentin Townsend-In Basketball And Business
Gifted with the height and skills in basketball, Quentin Townsend has the making of a good sportsman. But he has also other interest and that is entrepreneurship. Instead of becoming a basketball player, he bought a franchise at the Atlanta based market of American Basketball Association. He decided that he can only put his knowledge in handling the business by owning and becoming the manager of the team. It all happened in 2004, and after the franchise, the team started playing right away. For a short period of three months, all his efforts have paid off. They became the pride of every Atlanta citizens because of the fame that they have achieved. One remarkable game that they have conquered is during the Barnes-Malone Division where they beat the Florida Pit Bulls. They were able to participate in the ABA’s Great 8 Tournament which was held in Rochester, New York’s Blue Cross Arena. After that, they become a holder of a Division title.
In 2008, Quentin Townsend was chosen to be the President/COO of ABA. The current CEO, Joe Newman has definite confidence in him because he had witnessed his dedication in his work in the past four years after becoming a part of the ABA family. Townsend in return commended both the CEO and its co-founder Dick Tinkham for their amazing groundwork in the association. His started to fulfill his responsibility by applying strategies and other useful plan in order to assure the success of the club. He has designated Management Committees in five regions and gathers enough media attention and sponsorship for ABA. He aims to have his own arena and he is targeting the 8,200-seat Stone Mountain Stadium to have 50-year land lease contract with them. He also dreams of having a franchise at the major league like NBA. This is not far from becoming a possibility because like what Kelly Greer said “Quentin is a larger-than-life kind of person”.
As a native of Joliet, Illinois, Quentin Townsend’s attitude towards work and other people can be credited to the environment that he grew up with. Community outreach is usual here that is why he also practiced philanthropy whenever he has the opportunity. He is the founder of Vision of Excellence which educate the youth for a healthy lifestyle and leads them against obesity. He also gives 50% of the game proceeds to the local school whenever they hosted their match.
Forex Brokers – How they help you to Earn Money in Forex Trading?
Lots of people are enthusiastic about forex tradingand there are many who are just curious to enter in this huge market of making money. Forex currency trading market is perhaps the biggest online trading market of the world with approximately 3trillion trade a day. So, if you are thinking to find your career in forex trading online then it will not be a great surprise for others. There are lots of forextrading tips available on net for the beginners like to use forex trading software, forex robots etc. You will read some interesting and useful information about forex in this short write-up so that you can perform your trading business more easily and more happily.
Don’t trust on those people who think that forex trading is an easy job because this is completely a wrong statement. Approximately more than 95% of forex traders normally lose their game of forex trade each day. If you want to start trading in forex with having this in mind that it is easy to win in forex trading online then it’s better for you to stop thinking about it because forex online is certainly not that easy as you think. The only way to get success in forex trade is to have some solid knowledge about forex tradingonline and about forex rates. You also need to learn about some basic forex trading tools and about forex trading softwarethat can really assist you to build your forex trading strategies effectively.
It is really critical for you to manage your losses in forex trade with your winning trades. This point is significant for all forex beginners because every beginner will have countless losing days and he or she should accept these loses justifiably. Don’t allow your emotions to control your brain and never believe on those fake forex brokers who offer a system with 100% winning ratio. Remember, not even a reliable and experienced forex brokercan provide you a forex software that gives you hundred percent outputs because forex online is an UN predictable market. You need to use your brain along with reliable forex trading software to make a winning trade.
Lots of young forex traders also ask this question that should they use forex robots. Well, if you want more flexibility and more continuity in your forex trading then you should certainly have forex robot.