More Income, Less Debt - It's Simple Really!

Au Revoir, Not Goodbye

2013-06-30T10:47:00.001+01:00

Well that was an interesting blogging experiment. For the past 6 months I've put up a short post on personal finance, local and national economics every day. Hopefully those people who have read them have found them interesting, useful even.

While the number of views hasn't been startling this has proven to me that it's possible to write regularly and that if you have a theme you can take cues from news stories around you to "go into print". I'm sure there could have been lots of trick of the (SEO) trade I could have been using to boost circulation but this was more an experiment in regular writing than anything else, even though the posts were pretty short.

For the most part then it's been a success. Most posts have been written on the day they were published with a few scheduled when I knew there was no way I would have got round to it. Just writing what comes into my mind has been something that I hope I have improved during the past half year. Often called Frictionless Writing it allows me to start with an idea and just go with the flow. So, not all the posts have been brilliant but I feel there has been an easy going style that has developed despite the often serious subject matter.

This won't be the end of the blog but it is the end of the regular every other day posting. From now on it will be occasional posts as and when I feel the urge to put something down on an area I'm passionate about. So, it's au revoir not goodbye. Wishing you all success in whatever personal finance battles you may have.

James

Saving One Coffee At A Time

2013-06-29T17:21:00.001+01:00

There's no doubt that coffee drinking is becoming more and more of a habit in many counties around the world. Coffee cafe culture is sweeping across the western world and moving into counties far more used to tea. Nothing at all wrong with any of this but the costs we, the consumers, pay in coffee shops is astronomical. True, we are paying for the ambiance (some places are far better than others it has to be said) and the pay for the baristas and all the other overheads associated with large companies.

If we're happy with this then all well and good. If we think we're being taken for a ride then maybe we need to think about how much it costs us to buy a packet of coffee and how much a single drink would cost in a cafe - it's about the same!

That packet of coffee will last you far longer than it will take you to drink a single cup from your favorite cafe. So get yourself a vacuum mug and make your own coffee in the morning to take out with you. That way you'll be saving money on one drink per day.

Give Your Heart A Say In Financial Decision Making

2013-06-27T09:23:00.001+01:00

Sometimes we just have to do what feels right in our hearts and hang the consequences. Our head may be telling us on thing about financial decisions but if it doesn't 'feel' right to us inside then it's highly unlikely we'll follow through with them.

Our rationale selves will always be able to make a logical decision based on the facts and figured we choose to use. What each of us need to get better at is using our heart, our feelings, to help in the selection of those facts and figures. Not at all easy when we first start doing this but we all know (in our heads and our hearts) that starting something new takes time, practice does indeed make perfect.

So the next time you need to make a judgement on something financially related weigh up all those logical facts and figures and all the good reasons for and against. Then spend just 5 minutes to ask your heart what it thinks - if it hasn't been shouting out to be heard already that is.

Feast or Fast is the New Norm

2013-06-25T08:10:00.001+01:00

Camels have the ability to go long distances without water and top up on water as and when they come across an oasis. They instinctively know that they have to make do with very little in the barren landscape of desserts in order to survive and feast on the occasions that present themselves.

The same is becoming ever more true for individuals, families and governments, particularly in the Western World where there is now a need to survive on very little yet also recognising opportunities to feast as and when they present themselves. Feast may very well be food related for individuals and families but it could equally well mean topping up in a spiritual way or financial way. The trick is recognising that we are on this new world and making the most of the times available for feasting.

The Reality Of Now

2013-06-23T09:09:00.001+01:00

How does it feel when you do your food shopping at a large out of town supermarket and how does that compare to when you shop locally? If you're anything like me it will be a mixture of emotions. Knowing that the variety is often greater at a supermarket and that for many things I'm benefitting from their colossal buying power doesn't feel quite right. I can feel guilty that despite some employment for those working at the store my money is being sucked into some large central pot that has no impact on me whatsoever. At the same time I do value the convenience. Maybe shopping for food has become shopping for the fuel we need to live our lives and get over ourselves. Maybe our local stores have to settle for far less than they want and focus on providing us the specialities that we only want now and again. It's not easy but it's the reality of now.

Listen To Your Gut

2013-06-21T03:43:00.001+01:00

When was the last time you got stuck on something financially related? I could ask this of politicians and government officials but they would just come back with some well reasoned spin that actually says nothing and doesn't commit them to anything. Cynic, moi?

For us as individuals we have to take responsibility as we live in the real world and have to get on with things. Our heart, our gut and our head may be telling us completely contradictory things but what do we do? Well, the one think we generally can't do is 'do nothing'. Choices have to be made and they're difficult choices.

A logic drive head decision can be rationalized to the nth degree but may not feel right for some unknown reason. Our gut is telling us to be aware, it doesn't necessarily know why but we ought to be listening to it all the same.

Your Heart Knows What To Do

2013-06-19T11:33:00.001+01:00

What are three things could you start doing today that would make a significant impact on your financial well-being? In your heart of hearts you know what these are but maybe your head keeps telling you that they aren't possible or you couldn't do that. Maybe you've convinced yourself that you're not allowed to do these things.

Write the three things down that your heart tells you is what you want to do. Fold that piece of paper up and put it somewhere that you will keep with you, a wallet, purse, whatever. When you're day down having a coffee on your own take that piece of paper out and look at what you've written down. Keep doing this and over time this list will start to feel real and you will be putting in place just what you need to make it real.

Support Your Local Post Office

2013-06-17T09:00:00.000+01:00

It's a strange phenomenon that when local shops and services don't get used and closure is planned huge campaigns get started to keep them open as they provide a "valuable service" for the community or are the "hub" around which the community gathers. Such hypocrisy must be hard to stomach for those small business owners and others who see a steady downward trend in their sales and footfall.

Post Offices are particularly prone to this yet much of what they have traditionally offered can now be got elsewhere. To be fair the Royal Mail have responded in their own way by offering a far wider range of products than would have been seen even five years ago (a valuable lesson to many struggling retail businesses here). Backed up by an online presence that compliments rather than competes with its physical outlets means long term stability of sorts.

This doesn't mean that Post Offices are safe for ever more. Nothing guarantees that. So the next time you need stamps, insurance or to pay a bill, use your local Post Office. If you don't it won't be too long before it closes for good.

A Day In The Fresh Air Beats Shopping Any Day

2013-06-15T16:12:00.001+01:00

A day out in the fresh air even when it's one of those strange but all too common summer days full of wind, rain, sun and cold has to be better for the soul and the wallet than traipsing around shops for hours on end. Quite why this is called retail therapy is beyond me, there can be little else that is as tedious, frustrating and downright boring.

Out and about is not only cheaper in the long run it encourages us to buy the kinds of foods and drinks that make sense for us. All that exercise means we are able to eat the carbs and not worry about gaining weight. Do that at a coffee shop after an hour or so ambling round a few shops and the waistline will be increasing.

It's all too easy to go to a shopping mall and finding somewhere to spend the day out in the open is easier for some than others, depending on where you live. A little forward planning won't go amiss here. Create a list of those places you want to visit and work your way through them. The benefits to you and your wallet will be huge.

Avoid The Mall - Use Your Local Stores

2013-06-13T16:18:00.001+01:00

Even when we have to shop at large stores or chains it's worth considering where we actually go to do our shopping. The temptation of going to large shopping malls may be too much for some people (although I can't for the life of me see why) but if there is a more local store to you why not go there instead?

There are a few bonuses here that we often forget:

We use less fuel when we go to our local stores.
We support local employment even if we are using locally based large retail chains and that generates some money in the local economy.
We don't get tempted by any of the other large retail chains and eateries when we wander around a mall. If anything we might be tempted to drop into other local stores which can't be a bad thing can it?

So the next time you think it's a good idea to drive down to your local mall go to a local town instead and see what you can get there.

Washing Dries On The Line In All Weathers

2013-06-11T13:38:00.001+01:00

It's a myth that in order to dry clothes on a line it has to be bright and sunny. True, it will certainly help but it's a strong breeze that helps get rid of the moisture in materials more. So if it looks like its going to be dull and overcast all day don't just leave the wet washing inside or be tempted to use the tumble dryer (they use so much electricity).

Put the washing on the line and even if you leave it on there all day while you are out at work it will be so much dryer when you get home. At the very least it may be slightly damp which for clothes that need ironing is just right. At the very worst and it ends up pouring with rain all day all that means is that your washing has had an extra rinse - and a completely natural one too!

Oh, and while we're talking washing:

Have you ever thought about just how dirty your clothes are or aren't?
Do you really need to wash at such a high temperature.
Does the wash cycle really need to be that long?
How much washing powder/liquid and fabric conditioner are you using?

Just thinking about these four questions and altering what you do in response to them might save you far more than you might realise.

Get Paid For What You Are Good At

2013-06-09T10:47:00.001+01:00

What are you good at?

Everyone has a talent for something even if they don't realize it themselves. Ask a friend what they think you are good at and you might be surprised at what they tell you. The things that you take for granted as just being what you do are a real talent - and you can harness that talent too.

Put up a few fliers in coffee shops and clubs advertising what you can do for others. All businesses start small and this is a no risk way to test your market. Go on, give it a go and see what response you get.

Ask any successful entrepreneur if they ever failed at anything and they'll all say yes - but they learnt from it and moved on to try again. Something we can all learn from I'd say.

You Can Use Trains And Buses Too

2013-06-07T06:50:00.001+01:00

For those of us who own cars just getting in them and driving to wherever we want to go is such an automatic thing to do. Convenience is everything in owning a car but is it always the most cost effective or even the best solution for some journeys?

Really short trips don't make sense when we can walk or cycle. Everyone knows this but we all consider our time worth using the car. Longer journeys don't readily seem to be an option for walking or cycling but maybe public transport should be looked at every now and then.

It all depends on where you are and the costs involved. Remember that catching a train in the morning rush hour will be very expensive but outside this it becomes far more favourable. Remember to that you need to compare the cost as well as the time and convenience. Cost per mile for using a car should be considered at 0.45p (HMRC use this figure).

So next time you need to make a journey think about your realistic options and balance the pros and cons. You might be surprised.

Beware The Online Price Additions

2013-06-05T14:27:00.001+01:00

When you are booking anything online these days the headline prices very rarely end up being what we pay. Additional fees, taxes and packaging and postage can very often turn a really attractive price into something you would be well advised to stay well clear of - especially flight tickets!

While these extras might seem obvious there has developed over recent years a trend of having to buy what many of us used to take for granted as being part of the original price (drinks and meals on flights for example) . Airlines are particularly bad at this, some even charging to take baggage on board. So be extra vigilant when you next buy something online and be sure to be very selective with anything you add to the basic cost - if you don't need it, don't pay for it.

It's Down To Us To Turn The Economy Round

2013-06-03T10:06:00.001+01:00

We all want our economies to improve around the world but we all know equally well that politicians can only be trusted to look after themselves and the over-inflated egos. They make sure that their post political careers are well sorted by keeping banks and big corporates sweet while talking hard words that never get transferred into actions.

So if we want our economies to improve it's down to us to do something about it, regardless of the prevailing environment. If we all do the following 3 things regularly then maybe we can start to turn things round together:

Support local businesses as opposed to large multi-nationals and online faceless giants. It may cost a little more and take a little longer to track down what you want but the money will be kept on your local community rather than being siphoned off to some far off tax haven.
Think very carefully about where the items and food you buy comes from. While there are ethical and transport costs that you might want to think about which are more of an environmental issue buying food in season and locally produced rather than being shipped half way round the world means it will be fresher and better for you and, as above, keeps the money in your local economy. The same goes for all other non-food items but globalisation means you will have to set your own boundaries for what you consider 'local' on a case by case basis.
Set up your own business selling what you are good at. We all have things that we excel at and that means that others will be prepared to pay for it - goods or services. Start small, don't risk your home on it and see how it goes. We all have an entrepreneur inside us itching to get out. If things don't work out, learn from it and try something else - that's what all successful business people do.

Don't blame others for the state of the economy, they won't listen or change their insipid habits.

Let's make a change together and get ourselves sorted out.

Cut Business Rates To Drive Economic Growth

2013-06-01T17:26:00.001+01:00

Go down any high street in the UK and you will find large numbers of boarded up stores and lots of "high street" names. What is happening here is that it's only the large national chains who can survive in this economic downturn, and they are struggling unless they have an efficient online presence. Local retailers simply cannot survive and one of the main ingredients of their struggle is nationally set business rates that make it almost impossible to trade, let alone compete.

A one off, short term reduction in business rates may seem like a good idea but that would be a temporary measure only. Waiting for a revaluation of the rating system in 2015 makes no sense either, action needs to happen now.

Business rates need to be slashed dramatically (to 10% of what they are now) in order to get businesses moving again and they need to stay low forever, allowing business to drive forward the economy. Far better for government to get taxation revenue from thriving businesses rather than from dying ones via business rates.

Rebalance The Economy Or Let It Slowly Die

2013-05-30T13:39:00.001+01:00

The economy is in a real mess, just as they are for so many other so called developed countries. No political party is talking about doing anything substantially to change the status quo. It's a case of talk about cutting costs but not doing much of it in reality or spending even more to kick start things (no mention of where that money would come from of course).

What the economy needs is a substantial re-balancing towards the private, entrepreneurial sector and away from the public sector that does nothing more than drain the money out of the economy and give absolutely nothing back. In fact, the public sector provides a double whammy of hit on the economy by costing a fortune and forcing unnecessary regulation on those in the country who can make a difference.

Line Dry To Save A Fortune

2013-05-28T14:34:00.001+01:00

Sun and wind can mean only o e thing when it comes to cutting costs on everyday living - putting washing out on the line to dry it properly. If you don't have a washing line or a rotary drier up yet and are still using vast quantities of electricity to dry your washing then you really do need to invest in one soon. It'll pay for itself far sooner than you'd think.

Go On, Celebrate A Little!

2013-05-26T11:00:00.000+01:00

When you spend your life doing all that you can to save money by living as frugally as possible it can feel tough at times. Paying off student loans, mortgages and simply the cost of living can get anyone down. This is why it is so important for each and every one of us to have a celebration of who we are every now and then. Not a splurge on things that means nothing to us but something that is of intrinsic value in its own right. It may cost a little extra and may need saving for but you're worth it aren't you?

So think of the next time that would be right to celebrate just being you (and your family). Not your birthday or any of the myriad other reasons retailers continually try to persuade us we need to buy cards and gifts. Put a little money aside and plan that something special that you deserve and will remember for all the right reasons.

Cut Down On Food And Drinks Costs When Travelling

2013-05-24T09:40:00.001+01:00

I'm sure it's not only me who when traveling ends up feeling hungry and in need of a drink goes along to a coffee shop or cafe and feels cheated because of how much I end up having to pay. Airports, train stations and motorway services must make huge profits from what we, as captive customers, have to pay. The premiums that get charged for coffees and snacks are huge.

I like to think I've learnt my lessons and now:

Take sandwiches and snacks with me
Always take bottled water with me - not possible at airports if course
Take a vacuum flask of my own coffee with me - much better and far cheaper than any you'll get at a service station

It's not a disaster to have to buy food and drink when you're traveling but a little thinking ahead can save money that you can put to better use elsewhere.

Dress For Much Less

2013-05-22T18:39:00.001+01:00

Do you despair at the cost of decent quality clothes? Maybe not big brands names but good quality clothes. Outlet stores are certainly a great way to get the quality (and big name brand if you are that way inclined) at greatly reduced prices. Granted, sometimes the goods are slight seconds but providing you check them out carefully you should be OK. Most of the time they are simply end of season stock so if you're happy not to be the height of fashion then all is great.

Charity Shops / Thrift Stores Are Great

There is another way you can get good quality clothing including big name brands at even lower prices. I'm talking about Charity Shops (Thrift Stores if you're reading this in the US). You won't have the quantity and the choice that you get in regular shops but real bargains can be found if you take the care and the time to look. It's exactly the same as regular shopping, you make sure the clothes are the right size, aren't damaged and aren't too worn. You'd be surprised how 'almost new' some of them can appear.

So next time you're looking for some new clothes check out your local Charity Shop first and if you find something suitable you've saved a fortune and the charity has benefitted too.

Don't You Want Freedom Of Choice?

2013-05-20T05:41:00.001+01:00

When I think of what it would be like if all my money worries were swept away in one go the initial thought is of complete joy - why wouldn't it be? Then I think about what would come next. What differences would it make to me as a person?

Yes, there might be very different material things in my life (but not that much if I'm honest) and a few holidays to far off places would be nice. But would it change me for the better? I hope the answer to this question is that it wouldn't change me, and my values, one way or the other.

I'd still believe in:

Not paying over the odds for things
Looking for the best deals I can
Not buying things I don't really want
Paying off any debt I have as soon as I possibly can

It's that last one that is so obvious to me but seems so elusive to far too many people these days. If you owe others money they have power over you. If you owe nobody any money they don't and you have freedom of choice over what you do. And that's more powerful than anything money alone can give you.

Weekends Are For You And Only You!

2013-05-18T20:25:00.001+01:00

Weekends can be a nightmare for those of us doing our best to save money and avoid spending on things we don't really need. So, now that the weather is starting to improve surely the last thing we need to do is go shopping!

Get out in the countryside, walking, jogging, cycling - anything in fact that does you some good instead of being tempted to eat, drink coffee and buy useless things you never actually use or actually want. All these activities are free, good for you and enjoyable so why do anything else?

Keeping The Costs Down When Staying In Hotels

2013-05-16T20:22:00.001+01:00

For those of us who have to stay away from home in hotels either on business or for pleasure, we know just how easy it is for costs to add up. So here's my list of how to keep those costs down to more manageable levels.

Make room bookings as far in advance as you can to benefit from cheaper rates
Booking online is almost always the cheapest way
Pay using a card that doesn't attract an extra charge
Go for the cheapest rate that means you can't make any changes once you have booked (if you need flexibility them pay for it)
Don't be tempted with all the add-ons for meals etc. (it's this up-selling that makes the hotel chains lots of money)

Of course there are lots of other ways to keep the costs down. What would you recommend?

Green Technologies Need Their Own 'Apple Moment'

2013-05-14T10:12:00.001+01:00

It doesn't seem to matter where in the world we live the cost of energy is going up. Petrol, diesel, gas, they are all rising in price as demand increases and supply reduces. Add to that the increased costs of production as the reserves become harder to extract and it's obvious that this trend won't change any time soon, if ever.

Renewables do indeed offer alternatives but the reality is that it's only those with significant wealth who can afford the cost of installing such technology in their homes. The double whammy, in the UK at least, is that they then get significant paybacks directly from the government for years to come.

What we need is mass production of the technologies that will help us reduce how much we pay out for ever decreasing fuels to heat and power our homes. Mass production will bring the costs down but there needs to be an 'Apple moment' equivalent of the iPhone impact on the phone market. Whatever the new, cheap, mass produced technology is it has to be easy to install and use by home owners who don't have to resort to middle men who charge so much for their so-called expertise.