Wednesday, March 24, 2010


Budgeting, it isn't rocket science but for some people it may as well be.  I am amazed at the number of people I come across that have no money sense.  They earn really good money but just can't stay ahead of the game and are often struggling with large debt.  Then there are the people I meet who don't earn as much but have great financial management skills.

So what is there secret, it is a simple formula  and will work for everyone - spend less than you earn!

When people begin to budget they usually start wrong and so the budget never lasts.  The first step in budgeting should be to keep a money diary for at least 4 weeks.  During this time you need to write in your money diary everytime you make a purchase or pay a bill, right down to the cent.

By keeping a diary like this you will begin to create a picture of your spending habits.  Everyone has heard someone say, "I just don't know where my money goes..." well now you will find out.  Once you see your spending patterns you can begin to create a budget. 

The next step is to seperate your spending entries into WANTS & NEEDS.  A need is something that you or your family has to have in order to live, such as food, clothing, shelter, water get the picture.  A want is all the other things that you spend your money on, these are more lifestyle items such as a boat, electrical appliances, holidays etc.

Once you have completed this step you will see where you can cut back on your spending.  Even if you only can cut back by $5 a day that adds up to more than $1,800 a year.  Paying off an extra $35 a week on a $200,000, 25 year mortgage will reduce the amount of interest paid over the term by around $12,830.  As little a $20 a week invested with a return of around 6% and you will have $15,000 in 10 years.

The most important thing to do now is to start, the sooner you start the sooner you will be in front.
For more information and tips visit Understanding Money.


Busy people often find it hard to find the time to exercise, but 30 minutes of daily exercise can significantly reduce your risk of serious illness, including heart disease and diabetes.  Schedule your 30 minutes into your diary everyday like you would any other appointment.  If you can't find a 30 minute block of free time you can always break it down to smaller blocks of time.

Do a quick 10 minute walk on your lunch break and then when you get home spend 20 minutes playing a game with your kids outside.  If you don't have kids buy yourself a bike and go for a ride.  Most health professionals agree it is better to do some activity than none so aim to get moving for at least 30 minutes a day.

For more tips on exercise check out the Get Moving website.

Thursday, March 18, 2010

Social Media and Business

It is a fact, Australians are at the forefront of using social media.  In fact there are 9 million facebook users in Australia and it is growing every day.

So how can a business use this forum to generate new business?  Well it is not about selling, it is about developing your profile and your relationships with existing clients and potential clients.  Social media is a great way to connect with people you already know and to be introduced to those you would like to know.

To understand it better you can check out the Small Biz Help Club the site can also help get you started with the basics.

Once you are on  your way I would love to hear your comments and experiences in delving into social media.

Goodluck and happy networking.