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How To Beat A Shopping Addiction

Written by The3dtechnologies · 2 Comments

Shopping can quickly become an addiction, just like any other addiction. I confess, I was addicted by shopping, especially when I was in college.

I used to buy a lot of fishing yarn in the past. I stopped when I realized that it will probably take me a lifetime to use it all up, especially since I have no time for fishing these days at all. I have some friend that have a full-fledged addiction and need to go out and buy the merchandise.

Shopping can be an extremely pleasant and relaxing, however, when you take too much used to it, you want to experience it again and again and often this pleasure can quickly become an addiction. Shopping is the best way to obtain this dependence.

According to studies humans love shiny new things and feel a sense of security when we surround ourselves with objects. For the same reason any other addictive behavior becomes an addiction.

Being addicted to shopping is damaging for different reasons. If on one hand it is damaging to your finances, on the other hand it is also damaging to relationships, because the addicted person often tends to hide her addiction from her partner.

At this point her partner could ask how she can spend so much money on things you don’t really need. Obviously, shopping isn’t something you can just stop doing – So, how you could get over my addiction to shopping?

I pretty much stopped the habit or addiction all at once . You can force yourself give up to the habit of recreational shopping.

I basically forced myself to staying indoors and away from stores whenever I have any spare time. It wasn’t easy, and I definitely went through a withdrawal process where I sorely missed my daily ritual.

So, let me know if you have been a shopping addict by leaving a comment below.

Image Credit: Stuck in Customs

Categories: Money Hacks, Personal Finance

4 Simple Ways To Staying Positive About Your Finances

Written by The3dtechnologies · 4 Comments

“When we do what we are meant to do, money comes to us, doors open for us, we feel useful, and the work we do feels like play to us.” – Julia Cameron

Never have to ignore financial difficulties. Economy is hitting hard our finances and it can let that negativity permeate our life. Staying positive isn’t simple I know, but if you make an effort, you might find that you feel less financial stress, and that you are more open to opportunities when they present themselves.

To help you don’t succumb to them, here are 4 tips which it is worth a read for staying positive about your finances:

1. Bad Time Doesn’t Lasts Forever – When I started my activity online I was somethimes discouraged about my bad finances, but I always had the patience to go ahead and do better.

What I learned was that if you reminding yourself that the tough times can’t stretch into eternity you will come out of it faster. Build a plan and realize that you’ll come out of the bad time quickly.

2. Create An Action Plan – An action plan = goals. Create your plan first, then get to work. Having a purpose can help your goals quickly and emerge from your financial doldrums.

It’s easier to achieve something if you know how to get there. This can include creating a plan for earning more money or for cutting your spending. Of course, you can do both. Focusing on fixing the problem can help you identify problem areas to work and feel less anxiety about it. Without goals you can keep going, but you’ll never know when you will get there.

3. Count Your Blessings – One of best ways to remain positive in life is to recognize the good things that happen in your lives every day. You can enjoy to positive feelings. Look to your family, your friends, your health, a treasured keepsake or other items that you are grateful for.

4. Learn Lessons – Look for the better lesson you can learn. It might be that you can recognize it. On my side, the better lesson I learned was the importance of creating an emergency fund. When I first started out as a internet entrepreneur, I had one client don’t paid me. He had to pay me $500 worth of work.

I hope you found this article helpful and maybe a bit of inspiration on how staying positive about your finances.

Categories: Money Management, Motivation, Personal Finance

Ask Reader: What Is The First Book That I Should Read To Build A Personal Finance Library?

Written by The3dtechnologies · 1 Comment

If you ask yourself what are the best books to read about money, then you have come to the right place.

I like personal finance area, so today I just wanted shared my personal finance library to help my readers on how to approach to topics like cut expenses, avoid debt, maximize your wages, and so on. It is also my personal goal for this year read as many as possible educational book. I still feel I have a lot to learn about PF but hope to achieve this goal in less time possible.

Note: I have not been reading all these classic books that I have listed below. I managed to find most of them in the library where usually I’ll go to write every post of this blog.

Basic Personal Finance

This set of books deals specifically with finance. They offer in particular advices about saving, investing, and how getting out of debt.

The Millionaire Next Door by Stanley and Danko - This ebook cover any aspect of both saving money and earning money, and introduces several key concepts, including degrees of wealth accumulation. The authors interview a pool of millionaires, and discovers they have in common that live below their means.

Your Money or Your Life by Dominguez and Robin – The concept behind the ebook is very simple “time is money”. The author encourage readers to cut expenses, sort out priorities, then to seek passive income in pursuit of financial independence.

The Total Money Makeover by Dave Ramsey - If you are struggling with debt, there is no better starting place than this book. Ramsey story is incredible. He lost $4 million to bankruptcy. He made this fortune in his mid-twenties, and after lost all his money now he runs a personal finance empire. He takes a lot of criticism for his support of the Debt Snowball, which he describes in detail here. Ramsey’s advice is permeated with his Christianity, but there’s no need to be religious to follow all his tips.

Frugality

Saving money is very important if you want to make money. These books focusing many aspect on how do to cut spent and give you the right advices to achieve this goal in the less time possible.

Wealth on Minimal Wage by James Steamer - This volume is ideal for young adult just starting in life. It offers lots of ideas on how to live a frugal lifestyle. You learn in particular how avoid debt, maximize your wages, save on insurance and utilities and generally live a frugal lifestyle.

How to Live Well Without Owning a Car by Chris Balish - Balish begins by explaining how to survive without one car, and why you’re better off not owning a car — financially, ecologically, and socially. The rest of the book focusing reader attention by giving useful advices about mass transit, walking, bicycling, and more.

This book has a narrow focus. But if you’re in its target audience, it’s worth a read.

The Complete Tightwad Gazette by Amy Dacyczyn – I’ve never read it, but it’s near the top of my list of books to borrow from the library.

Kids and Money

These books discussing many aspects of investing. The books I listed below are user-friendly, and give you a basic knowledge about this topic.

What Color is Your Piggy Bank? by Adelia Cellini Linecker - This little ebook is ideal for kids from 10-14 who are beginning to show an interest in entrepreneurship.

Linecker covers how to manage money, the world of jobs, setting up shop. I wish to provide a complete review of the book as soon as possible.

You Call the Shots by Cameron Johnson - This is a new book written by a young entrepreneur which should be required reading for any young adult showing an interest in entrepreneurship.

Living Simply with Children by Marie Sherlock - Sherlock offers tips for how to raise children that aren’t part of the consumerist culture. She encourages strong family ties as a counter to the relentless purchase to acquire “stuff”. There’s some great advice here.

Categories: Books, Personal Finance - Tags: Basic Personal Finance, Frugality, kids And Money, Personal Finance Library

Best Money Tips: 6 Ways To Entertain Houseguests On A Budget

Written by The3dtechnologies · 4 Comments

Have you never throught about how much it costs to have house guests? No? Some days ago, we’ve had a few houseguests. We had so many people visiting that every bed was full, as was much of the available floor space. Then, continue reading this article to learn more how you can save a bit of money to entertain house guests.

“House guest” means any person specifically invited by the owner or a member of the owner’s household to visit at the owner’s home whether for dinner or to a party, for conversation or any other similar purposes including for recreation, as playmates of the owner’s minor children as well.

If on one hand entertain house guests could be a joy, on the other hand can effect your spending power and cost could rise quickly. Once you add up your entertaining bills and locals from the weekend, you could observe how much money go away and how much your guests have cost you.

Each of these are important step to enjoy your guests and save some money by entertaining them as well.

1. Save money ahead – If you know you’ll have guests the next month, start putting aside money, at least each day in order to cover additional costs. Perhaps you could save a portion of your eating out.

2. Save money on food and drink – Keep the food and drink simple, this will surely help you save your money for most important thing ahead. Of course, you can also take fancy meals and splurging on gournet food, if you like it and afford it.

A simple food can be easily made with pots, spaghetti, hamburgers or hot dog. Bake banana bread or muffins before your guests arrive and you will be sure to impress them and save some money as well.

Warehouse stores is a good place where buying in bulk. So if you don’t have a membership, you can always ask to your friend if it has one and use it.

3. Don’t try to schedule too much – This process not only is it expensive, it’s also make you spend a lot of time. Make sure to include plenty of downtime.

4. Look free attractions – Take your guests to free or inexpensive local attractions like a hike through the woods or a picnic at a local park. Both might be fun for your guests and doesn’t have to cost anything to you.

5. Look for special offers and Coupons – Start looking those companies offer their employees discount tickets or passes to local attractions and entertainment venues. For instance, you’ll could get free tickets to employees. My friend had free tickets to museum from his employer. It could be a nice idea ask your employer(if you have one) if your company has any similar deals.

6. Plan ahead – Plan ahead your time instead of running to the restourant or locals at the last minute or for expensive breakfast goodies. So, you’ll be able to save money when your guests are here and enjoy the money later.

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Categories: Money Hacks, Personal Finance, Savings

4 Simple Ways To Set Financial Goals For This Year

Written by The3dtechnologies · 11 Comments

The new year arrived and is time to develop a plan to help us accomplish our financial objectives. Many of us are trying to accomplish goals such as paying off debt, buying a home as saving for retirement, as well.

However, often become hard to come up additional funds to achieve your financial objectives. However, when you combine some good tips, you can meet those goals faster.

I still feel I have a lot to learn on this topic but thought I’d take a few minutes out today to reflect on some of the lessons I’ve learned about personal finance.

These step below are meant to kick start your own financial goals:

1. Understand Your Priorities

Decide what you want, decide what you are willing to exchange for it. Establish your priorities and go to work. H. L. Hunt

If you don’t prioritise, you’ll could spend your time in an uncontrolled manner. I’ve learned from my experience how many important is to understand what the priorities are and what they are not. This step come before to setting financial goals and it allows you to understand your overall plan for your money.

Image Credit: Norah Mohammad

You have to figure what to accomplish not only the next month but in the entire year to come. Try to understand what really do this year, create a list of what are really important to accomplish so it help you understand which financial objectives you have to follow. E.g You can try focusing on the smallest goal first so you achieve it quickly.

2. Setting A List For Reaching Your Financial Goals

A clear vision, backed by definite plans, gives you a tremendous feeling of confidence and personal power. Brian Tracy

Create a list of things that you want reach this year, and develop a plan of how to reach them. If you put down a list of goals you want to pursue is most probably you remember them and achieving them. This list are meant to kick start your own creative process, so be specific when you fill it. Look at the milestones you think should help you achieve your main goals.

3. Understand The Most Important Goals

Basically, our goal is to organize the world’s information and to make it universally accessible and useful. Larry Page

Now you got a list of the most important priorities to accomplish this year, it could be hard to accomplish everything togheter. So, you have to understand the most important thing you really need.

4. Remember That You Can Start Over

I bet you’re thinking a big part of the job will be done in a few weeks once your plan is ready. Unfortunaly, according to sources often New Year’s Resolutions often don’t last beyond the first few weeks of the year.

You always have to start over, or re-adjust your road map. You have to work on daily basis before to accomplish your objectives.

Categories: Money Hacks, Personal Finance - Tags: Financial Goals

Step-by-Step Guide To Paying Off Debt: 7 Ways To Paying Off Debt, When Paying Off Debt Is A bad Idea

Written by The3dtechnologies · Leave a Comment

Debt is like an old black fly on a hot summer day, is very hard to delete. People have a lot of debt such as car payments, credit cards, and a mortgage, each with a different interest rate(it depends on the lender’s appetite). According of the lenders the interest costs can really add up over time and cost you a lots of money.

Usually, the mortgages tend to have slightly higher interest rates. So, consolidating debt using your home to secure the loan become one of the smart ways to pay off debt.

guide to paying off debt
Image Credit: www.stockforfood.com

However, there are 7 other ways to help you manage your bills and pay off debt. Here, I’ve put other ways to get out of debt:

7 Ways To Paying Off Debt

1. Pay more than the minimum – Instead to paying only the minimum required each month, usually 2% to 3% of the outstanding balance, you could pay more. If you pay the minimum, you take longer to repay the charges, and the less cash you have in your pocket.

2. Cash out your savings account – I believe that the rate of interest are earning more than your savings account. You could cash out your savings account and investment an use that profit to help to pay off the debt. This is a thing that no one to do, I know. If your interest is at 12%, your investment should pay more than 18%, before federal taxes to that autflow of dollars. However, pay off the debt it’s similar to getting 18% return without any risk for you.

3. Borrow from your life insurance – Do you have life insurance with a cash value? If so, borrow against your life insurance policy. In brief, you are borrowing your own money. However, you need to be rapid, if you die before it’s repaid, the autostanding balance plus interest will be deducted from the face value of the policy payable to the beneficiary.

4. Borrow from family and friends – You could hope that your family or friends give you a loan. You have more chance to get favorable interest rate. Also, they may close an eye if you late a payment or two.

5. Consider a home equity loan – A home equity loan (or HEL) is a type of loan in which the borrower uses the equity in their home as collateral. If you have paid the mortgage and have equity that’s accumulated through the years, than it is the time to get a home equity loan.

6. Borrow from your 401(k) – If you do’t know, most of workers with 401(k)s can borrow from their plans. Certainly doesn’t make sense to use this money for luxuries like a new car, but 401(k) may be an option to pay off a loan. When you partecipate in a 401(k) most of their plan allows you borrow up to 50% of the account’s value. (in my view is a bad idea)

7. Renegotiate terms with your creditors – If you don’t have a home or 401(k) to borrow against, and your savings are gone, renegotiating the terms of the debt can be very helpful. If your creditors check you may not be able to unless they change the terms, they will be willing to listen.

When Paying Off debt Is a bad Idea

Of course, I could not put the ways when paying off debt Is a bad Idea:

1. You’ve choosed the wrong debt – Someone choose 15-year mortgage instead of the normal 30-year, so they can pay off the debt more quickly. Unfortunately, people choosed the wrong deb to pay. While they think to free themselves of their home loans, many of these are ignoring other debts and obligations that ultimately will cost them more.

2. Borrow from your 401(k) – As I said before there’s someone has built a scheme to pay off debt using a 401k. In a nutshell you borrow from your 401(k) in order to pay off credit cards, car loans, and so on. Unfortunatly, many people don’t know that they can lose a lot of money through taxes(based the state and federal tax). Also, there’s an additional downside when you borrow from your 401k: If you lose your job, you have to pay back a 401k loan in short order, or it will be taxed.

3. When it’s hopeless - Despair can ‘lead to make bad choices. There are people that got slammed with disease, job loss, accidents, divorce that struggling with bills and other problems that unable, for different reason, to handle it. Others continue paying long with no real hope of financial recovery. They tap their home equity, empty their retirement funds, and scrape for years to pay enormous medical bills, bad business loans or credit card debt.

Categories: Personal Finance