Making friends with your money

Whether we admit it or not, money plays an important role in all our lives.

In my book "A Gift From A Friend", I wrote that money is NOT the MOST important thing in life; however, money can affect the most important things in life.

Money is a life-enhancer. It can enhance love, it can enhance relationships, it can enhance the quality of life that you have in your family, and many more.

You can become the master of your money or you can become its servant.
The choice is yours.

Choose to be smart and make friends with money.
Here's some simple steps to help you making friends with money.


Step 1
As always, it all started with your mindset first.

Is money a blessing in your life? For many people, money are a problem both emotionally and practically. Most of us feel we don't have enough of it. Frequently we don't manage it well. Often we inherit our negative attitudes about money and don't even realize it.


The way you feel about money is important. Never feel embarrassed for having a healthy respect for money and what it can do for you and others. When you look at all the good that money does, admit that money is the root of much good. Be positive about it !


Step 2
Appreciate it.

Don't take money for granted. Analyze how you use money. Make a list of how you have spent it wisely and how you have not.


Step 3
Take control of it.


If you are not careful, money can enslave you. I've seen a lot people simply just cannot control themselves when it come to managing their money. But if you learn how to tame it and master it, however, it will do whatever you tell it to do. You can decide how, when and where it will be used.



Step 4
Don’t spend money. Allocate it.



Save at least 10% of every money that you earn.
In my previous post, I've shared with you how I allocate my money every single month.
Basically, I will allocate it to 5 different accounts. You can click on the link to know more about it.



Step 5
Protect it



Protect your money from fire, theft, death and disability.

You can work a lifetime and then lose everything you have achieved if your house burns down or is robbed, if you die prematurely or become disabled. You need to protect it from theft, fire, death, disability and major illness. Use insurance –- mortgage, house, life, disability and health -- to protect your money and your family.

When you make friend with money, your money will make friend with you too
... and eventually, they will stick with you !) :)

Love,
Merry Riana
www.merryriana.com.sg

10 tips on how to save more money

In this current financial crisis, many people do their best to cut down some expenses.

Today, I'm going to give you 10 very simple things that you can do to help you to spend less

1. Master the 30 days rule. Whenever you’re in doubt whether you should buy that item or not, wait 30 days and then ask yourself if you still want that item. Very likely, you’ll find that the urge to buy has passed and you’ll have saved yourself some money.

2. Give up expensive habits, like cigarettes, alcohol, and clubbing. Those habits cause money to flow away from you with nothing in return. If you can't give up straight away, at least do your best to cut down slowly every single week.

3. Save the electricity. Use less energy, especially when you are not using it. Be diligent about turning off lights before you leave, keep your air con at 25 degree instead of 18 degree, use energy-saving electronic product. You will be amazed to see how much different will it make in your electricity bill.

4. Hide your credit cards. Put them in a safe place in your home, not in your wallet where it’s easy to spend them. Make sure you do so until you have the willpower control your temptation of spending.

5. Don’t spend money just to de-stress. Many people used to spend money just to wind down from a stressful day at work. Try something FREE. Some people often feel much better by going home and spend some quiet time just to relax and then meditate. Or you could just exercise, go for jogging to de-stress, or maybe just sleep early.

6. Eat at home. Home cooking is cheaper and healthier than take-out or dining out. Even better, you can spend more time with your family member at home. It is definitely more fun.

7. Cut down your hand phone bill. If it is difficult for you to cut down your talking time or sms, one way to help you to minimize your hand phone bill is by checking your hand phone bill and look for services you don’t use, and cancel them. Things like an international roaming, caller number non-display, web access, etc

8. Cut down on your vacation spending. If you need to go for a vacation, try to go for budget vacation instead of going on a big, extravagant trip. There is a lot of choices that is currently available for you to choose.

9. Turn off yout TV. By watching less television, you'll have less exposure to guilt-inducing advertisements, and also less electrical use, therefore less expenses.

10. Home entertainment. Invite friends over instead of going out. Almost every activity at home is less expensive than going out. Have a cookout or a potluck meal, then play some cards and watch DVD.

Love,
Merry Riana
http://www.merryriana.com.sg/