7 Budgeting Mistakes to Avoid


budgeting

Budgeting is crucial to efficient and effective financial management. When we don’t budget, we end up either squandering money or missing out on paying for important and/or time sensitive transactions.

Note that the lack of budgeting is the very reason why the poor remain poor–because they don’t take time to think about what they want and research on how much it will cost.

The question is, how will you know what to spend your money on if you don’t budget? Remember that there is more to living than paying bills. Therefore, take control of your finances and establish budgeting as a mandatory act.

Below are 7 budgeting mistakes to avoid.

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Mistake 1:

When you don’t stick to your savings plan, or when you don’t have a savings plan. In order to achieve financial freedom putting away money as savings to either invest or fall back on in hard times, should be part of the game plan. If you don’t budget for your savings, you are basically rendering yourself vulnerable for financial disaster.

Mistake 2:

When you don’t update your budget plan:

It’s important to update your spending plan so that you are aware of what’s going on periodically. Get a note book, or download an app on your phone (www.everyDollar.com is a good one)) and use these tools to periodically update your budget.

Mistake 3:

When you underestimate or overestimate how much you spend: To avoid this mistake evaluate your previous month’s expenses to use as reference for your spending patterns.

Mistake 4:

When you don’t have a budget: When you don’t have a budget how will you know much to save or what to spend on?

Mistake 5:

When you don’t communicate with your spouse or people in your household about your budget standards: This applies if you have a family. You need to let your spouse know about your budgeting plans so that they spend within its limits.

Mistake 6:

When you only budget once in a while: You have to be consistent with your budget plans. It is an ongoing process, and the good news is that it gets easier with time.

Mistake 7:

Lack of budgeting before your payday: Getting money before you create a spending plan can be dangerous.  Note that by the time you create the plan, half the money will be gone on expenses that can not wait for you to decide whether you need a budget or not.

Note that budgeting is a healthy financial habit that you should embrace. Doing it right will make all the difference, and having a success infused mindset is the starting point.

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Looking to get more organized with your life and finances, check out my book, Do Not Force It, Tap The Good

Tap The Good

Dr. Jacinta Mpalyenkana, PHD, MBA is a counselor, transformational coach, corporate trainer, published author and professional speaker. For more about her, please check out http://www.tapthegood.com

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8 Money Management Tips


Whether you are a billionaire or zero-naire, managing your money is key, to having more of it.wealth

In this article, I share 8 tips to help you manage your money more wisely.

  1. Spend Only What You’ve Earned.Spend money

Don’t use money you don’t have: such as credit cards-especially in case of emergencies.

  1. Examine Your Spending Habits.Spending habits

Take time to see what you mostly spend on and determine if you are a compulsive shopper or actually take time to budget.

  1. Make A Money Plan And Stick To It.

If you don’t have a plan then you won’t know where you are going. Remember that a plan is like a GPS that leads your way. Note that although we have to be flexible with the planning and execution of our financial needs, it is better to have a plan on how we want to spend our money.

  1. Do Not Buy What You Don’t Need.Shoping

Before you go shopping firstly make sure that you don’t already have what you are going to buy. Secondly, examine why you are buying that item in the first place. Are you buying that item to escape a reality, fill a need, and satisfy a want or simply because it is on sale? We are accustomed to buying things because they are on sale, and for the most part we don’t even need these things. Don’t let the “sales” syndrome entice you into buy what you don’t need.

  1. Always save a percentage of your money—at least 10% of all the amount you earn.    savings

  2. Pay Attention To Your Bank Balances So That You Don’t Overspend. Bank balances

  3. Think Positive Thoughts About Money. Create positive mental pictures to represent money. I-don_t-fix-my-problems.-I-fix-my-thinking-and-the-problems-fix-themselves.-1

  4. Have Jars For Your Coins. Keep all your coins and only take them into the bank once a year or every other year. After the money is counted, immediately transfer it to your savings

  5. Woman with coins in jar

I’m certain there are many more tips for managing money. However, the above tips will get you started on managing your money.

If you need to read a good book about saving money and accumulating sustainable passive income, check out my book, Do Not Force It, Tap the Book.

Kindle Ready Front Cover.3594241

Dr. Jacinta Mpalyenkana, Ph.D., MBA is a published author of 5 books, a transformation coach and counselor. For more about her, please visit, http://www.tapthegood.com

love and light

Changing Negative Stories to Attract Money–With EFT and Ho’oponopono


In the interim, love and light.

Jacinta Mpalyenkana, Ph.D., MBA

Spiritual Counselor, Coach, Speaker, Author

http://www.tapthegood.com

 

10 Actions That are Guaranteed to Keep you Broke and a Failure


It wont work out

I know that most people tend to focus on the actions or behaviors that have been proven to help others achieve success. But it is also important to identify the actions that are known to keep people broke or as failures.

Embrace failure (2)

In this VIDEO, I share 10 actions that are known to keep anyone broke if they are persistent with them. I invite you to identify these actions so that you can avoid them.

Link to Video – https://youtu.be/tcWGgHyI3r0

 

This is article was written by Dr. Jacinta Mpalyenkana, Ph.D., MBA, who is a counselor, Transformational Coach, author, and professional speaker. For more about her, please check out her website at http://www.tapthegood.com.

Looking for a good book to read, please visit this link – http://www.tapthegood.com/books/

 

Introducing the Business Intelligence Success Coaching Mastermind


Welcome to the Business Intelligence Success Coaching Mastermind, eight weeks’ program that will ignite your true potential and reveal your magnificent genius.

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The program will be delivered twice weekly: a recorded video with a coaching session and accompanying script one day weekly; and 2 interactive hours on Skype the second day in the week.  

  1. Are you interested in making quicker and better decisions, and hence creating less delays and better quality of actions?

  2. Do you want to learn the Art of Persuasion and then effortlessly increase your sales?

  3. Are you sick and tired of trying to financially make ends meet?

  4. Do you often have trouble concentrating on what’s truly important in business, in people and in life?

  5. Do you believe you have the right products or services but is having trouble getting more clients?

  6. Are confused about seeing the possibilities and knowing which path is best for you to take?

  7. Are you having Trouble drawing clearer distinctions regarding present connections, situations and future directions?

  8. Are your past experiences and negative emotions negatively impacting your focus, productivity and success?

You are about to enter a partnership that will give you the true competitive edge. However, you must step up as well. Commit to the Business Intelligence Success coaching with the passion and focus that your life deserves. We’ll bring you extraordinary resources that will powerfully improve the quality of your personal, and professional life. Then, you can truly experience the powerful momentum that comes from living life at its peak.

We promise an experience that will not only stretch you, but that will be more fun than you have ever imagined possible. We don’t pretend that our coaching success partnership will be effortless, but it will be extraordinarily rewarding.

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The 8 Weeks Program:

Week 1: – Leadership and Purpose:

  • Embrace your Life Purpose into your USP

  • Define your “Why”

  • Establish your daily Rituals

A value of $750

Week 2 & 3: – Emotional Freedom

  • Identify your self-limiting beliefs and release them through EFT and NLP

A value of $1500

Week 4 & 5: – Money Mastery

  • Use EFT to cleanse and let go of negative emotions related to the 4 types of Money

A value of $1750

Week 6 – 8: The Art of Persuasion (Advanced NLP and Hypnotic Marketing)

  • Influential Psychology 101 and how it can positively impact your business

  • How to use mind triggers to achieve maximum influence to your leads

A value of $2250

Total Value is $6250

ONLY $47 WEEKLY – A ONE TIME PAYMENT OF$376 

For a limited time only. Special price ends 3/14/2015

YOUR TIME HAS NOW COME FOR ACTION.

Click HERE to reserve your seat.

Program begins March 23, 2015. 

Dr. Jacinta Mpalyenkana

Author, Speaker, Counselor / Success Coach

TapTheGood.com

http://tapthegood.com/business-intelligence-mastermind/

author@tapthegood.com