6 Tips To Get Out Of The Rut Financially

We all get stuck financially sometimes, but what can you do to get yourself out of a rut, especially one where money is involved. 

I was a single mother with 2 children, a mortgage I could just about afford, and a job that didnt pay me enough.  In the early days here are some of the things I did to help me get through the financial maze. 
It was one of the things that got me anxious about whether I was able to be a good parent, if I couldnt keep the roof over my children’s head. 
I was also looking at ways I could earn extra money, but stay at home to be around them. 
It is a very stressful and worrying time to have a lack of money to do the basics like pay bills, and purchase food.  Here I was in that situation, as my back was against the wall a few times.  I was just too stubborn and proud to ask for help. 

1. Get Help from a professional

If you are struggling with your finances, now is a good time to get a review done of your outgoings and income.  Having a new fresh pair of eyes on the situation can help you save where possibly you can see.  If you have a friend who you can trust, or go along to the bank, the staff there are happy to help you review your finances.
Wise up with your finances.  A great resource for me was Smart Women Finish Rich – David Bach a trusted financial expert.  You can go to his site Davidbach.com for some great tips on finance. 

2. Review / Reduce your outgoings

This is something I had to do when I lost a big chunk of income in my life.  I found going through my statements a really good way to see what I was spending money on.  It helped me to cut down on direct debits I ‘forgot’ about, the old gym membership that was ticking away each month, but I was not utilising it, other direct debits I totally forgot and for which they were not adding any value.  Reduced my Sky packages, and reviewed my telephone line deals, mobile deals, insurance deals.  I really started looking at all the ways I could save money and reduce my outgoings.

3. Put Savings Plan in Place

It doesnt matter how small your savings plan is, start by putting one in place now, even if it is £10 a week.   You can increase thisd when you get more income, but having something put down as a rainy day helps.  You can find some great savings plans online, just make sure you do the research. 

4. Look at your debt

When I looked over my 3 credit cards, and the size of the minimum repayments, this freeked me out. 
I took advice from the Money Supermarket site and looked at the credit card that had the highest interest rate, and began to include additional payments to pay this off first.
With the other two cards, I just kept paying the minimum amount (pro tip: set this up as a standing order so that you dont get charged for missed payments) on them until I paid off the card that had the highest interest rate. 
Once card 1, was paid off (took me 18 months), then I looked at the next highest interest rate and paid the same amount I was paying for the previous card  plus a bit extra to repay the second card down, this one I managed to reduce within 8 months. 
The final card I had more money due to not paying for the two previous cards, so this one I paid off quickly.
You can also call your card holders and negotiate a payment plan with them while you pay off for the other cards.  You can find out more by visiting here   www.moneysupermarket.com

5. Review Your Job Situation

If your current job is not paying you enough, then it it time to look for one that will.  Too often we under value ourselves, and our abilities. I know I did, until I was forced to upgrade due to ‘needing more’
I looked at my current skill set, and reviwed my Resume.  I then applied for other higher paid jobs, and ensured I upskilled myself at the same time.  I went into interviews with an air of confidence about me, and yes I got a higher paid job, which helped considerably. 

6. Look at Creating a Plan B

I didnt have a Plan B for if my partner suddenly walked out, that I could live independently without the salary. 
So, I quickly realised that I needed to put a Plan B in place. 
I was looking around to see what I could do to build residual income on the side, without jeopardising my full time job and this is where Network Marketing came into my live.
There are not too many areas that can generate residual income for you outside of
a) becoming an author (publishing rights)
b) becoming a produced of music (music publishing rights)
c) becoming a play right etc… you get the drift
Yes they all receive royalty  for writing, producing something ONCE, and if it is played, read, sold, they get paid over and over again.  That is residual income!

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Step Into your Own

Have you ever wanted to just give up your current job and go follow your passion? What is stopping you?

Opportunities present themselves when you begin to take action!

Many millenials are following their passion successfully each day.  The older generation however, have a problem with being as forward, they worry about security and stabiity.  The reality is that security and stability are a myth.  These days in the UK we run on zero hours contracts, which are not stable at all.

You won’t know until you do something whether it was the right thing to do or no.

Hope you enjoy my short podcast below, don’t forget to leave me your comments below.

 

 

 

 

 

Help, Share, Give Back….

Good morning, as I sit here at my desk not aching too much after completing a 5.5 mile walk yesterday in aid of Dementia Care, here in the UK.  I also rode to the event which is a 4 mile round trip!

One of the things that has always appealed to me has been to be able to give back to society.  Now giving back to society does not always mean in a monetary way, you can give your time, raise money through a charity event, or raise awareness in however way you can. It can be rewarding to give back to the community who has supported you in some way shape or form.   Most people dont have the spare money or time to be able to give back to society, this is why I love network marketing because it gives you the additional income that is expendable.  I gave up my gym time for this walk, but did I miss the gym, no, instead of a workout  I did a walk, met so many peope who have had the challenge of living through and are still going through the journey of a relative with dementia, it truly was delightful to have completed this walk in my mother’s memory and for those all ar

It is more blessed to give than to receive – Acts 20.35

Dementia has a special place in my heart, because my mother suffered from ‘vascular dementia’ and sadly passed away in 2016. I know first hand what it is like to live with Dementia and how it affects those around you, including the one you love who has the illness.

Dementia affects everyone in the family, even close friends.  It is a horrible illness and there are many types of illnesses associated with Dementia which you can see below.

 

 

 

 

 

 

 

 

 

 

If you have been affected and are beginning to go through the journey of Dementia you can get more advice from this site:

United Kingdom: https://www.alzheimers.org.uk/

And if you wish to donate to the Alzheimers Society and help fight Dementia you can do so here  https://www.justgiving.com/alzheimerssoc

I hope you found value in this post, please do leave me a comment below.

 

Mindset, Changes and Challenges

I am definitely all about sharing experiences.  It’s a way of helping others who are in a similar position to you.  We don’t know what is going on in each others lives, but by talking, it opens gateways.

Today I want to share how a shy mother of two young boys, found herself in the most daunting position in her life.  What was that you may ask? We all have ups and downs in life.  Each of us think we are all going through a unique situation, and are the only ones experiencing it.

News-Flash

You are not the only one going through changes in circumstance in your life! There are tons of self help books on every imaginable circumstance you can google……

I went from happily married mother with a lovely family to becoming a single parent with two young boys.  By the government standards my kids were in a family unit that did not stand a chance to progress in life, and even more so they were boys!!

My marriage broke down due to infidelity, and with that came mistrust.  Nothing new here. But to me it was my world crashing around me.

So, being my proud independent self, I didn’t want to be seen as a failure, even though I really felt like one, with a failed marriage behind me.  I won’t tell you here about what it did for my self esteem, that is another blog post!  My logical head kicked in, and I had to find a way to replace the salary that just walked out of the door.

So I had to find something that I could do while still doing a full time job…. I wanted to be around my kids, they needed me more now than ever being a single parent.

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So I researched companies and things I could do online to work from home in the evenings when the kids were in bed.  That was the start of my Network Marketing Journey!!!

That was over 12  years ago now.  Working in the Network Marketing Industry has helped me to develop myself personally, I have had so many great mentors and teachers along the way such as the late great Jim Rohn, John C Maxwell (met them both in person), Tony Robbins, Eric Worre, Diane Hochman, Ray Higdon, Jordan Schultz, Abdul Waheed and many more.   This is a world I would never have entered if it were not for my circumstances of a failed marriage back then.  So I guess I should thank my lucky stars that things happened they way they did.

Often we do not realise that we are being held back from our path of greatness, life gets in the way and distracts us as to the reason that we are here.  Circumstance or fate whatever you wish to call it, brings you towards your path of greatness sometimes through tragedy, sometimes through ways which do not seem favourable at the time.

Destiny-QuoteI truly believe this.  Karma, the Universe, Law of Attraction, God, The Higher Being, what ever you refer to, you will be guided towards your greatness, but you have to learn how to listen, learn how to be guided, it is called your intuition.  Some of us are more intuned to this than others.  I will go through how you can improve your intuition through meditation in another blog post.

So, in closing my experience of developing one’s self, through reading recommended books such as

Jim Rohn – The Twelve Pillars

George Classon – The Richest Man in Babylon

Lynn Grabhorn – Excuse me Your Life is Waiting

Oprah Winfrey – What I know For Sure

More suggestions will be coming through in further blog posts, but these are the ones that helped improve my confidence, and set me on the path to where I am now!