Happy Financial Awa TEACH YOUR KIDS SAVING TECHNIQU
BATTLING MENTAL HURDLES
“A budget isn’t what you can’t do. It’s permission to spend based on what you want to do.”
3 Habits Entrepreneurs Use to Excel During COVID-19
Why did some companies thrive during the COVID-19 pandemic while others had to shut their doors forever? The answer is simple: Successful companies embraced creative solutions to overcome the obstacles of the shelter-in-place orders. Creativity is key to a profitable business. Innovative problem-solving is how business leaders come up with new ideas, address unexpected issues, and inspire their teams during difficult times. Here are a few habits that resourceful entrepreneurs share. THEY MAKE A SCHEDULE. Though it may sound counterintuitive, structuring your day actually improves your ability to be creative. Establishing a schedule in advance allows you to avoid having to make small, inconsequential decisions. You won’t be distracted by wondering when you’ll get lunch or if you’re missing a big meeting. It’s all already on the calendar. Reducing daily decisions gives you more time to think about what matters and helps you dedicate more of your mental energy to solving problems or refining big ideas. THEY TAKE TIME TO RECHARGE. This doesn’t mean spending all day watching Netflix. Recharging your imagination is an active process. If you’re feeling creatively drained, go to a place that inspires you. This could mean taking a walk around a park, going on a hike in the woods, or visiting your local library. Immersing yourself in others’ ideas can also help recharge your creative batteries. Swing by an art museum, pick up a new book, or treat yourself to a solo movie date. Ask yourself why a particular piece of art inspires you, what makes it worthwhile, and if you would have done anything differently. THEY PRACTICE CREATING. You don’t have to wait for inspiration to strike. Cultivate creativity by making something every day, even if it has nothing to do with your projects at work. Doodle during lunch, sing along to the radio during your drive home, or write a few sentences of a short story each night. Don’t worry about whether these personal projects are “good,” just focus on bringing them into the world. Practice makes perfect. If you believe that creativity is something that only a select few are born with, then you might find yourself struggling to be imaginative during difficult times. However, when you view it as a skill that can be strengthened, you’ll develop habits to see you through what might otherwise be a creative drought.
Jeff Kornfeld’s son once told him that — and he’s absolutely right. A lot of people feel constricted by their finances and are tempted to “free” themselves through using credit. And, to be fair, almost everybody has looked at a credit statement to find purchases they had forgotten about. But a budget is a wonderful, lifelong friend, not a prison warden! We can use classic, time-tested wisdom to create simple, effective saving plans no matter how young you start. It can be tough to talk to kids about finances because, well, it can seem boring. But an easy analogy can push the conversation forward. If you have grandparents or great- grandparents who lived through the Great Depression, you might remember them using envelopes to save money. Each envelope would have a different goal written on it (“Bahamas trip,” “new car,” etc.), and every paycheck or every month, they’d put cash away into these envelopes. It’s an old-school method of saving money, but it works because you always pay yourself first.
And, the thing is, you don’t have to use envelopes any more. You can elevate that method with modern tools:
EVERYDOLLAR is a free budgeting tool designed by celebrity businessman and American radio show host Dave Ramsey. It’s tailored for zero-based budgeting, where your expenses equal your income. You can create unlimited budgets, track transactions against your budget, and receive virtual email support. These budgets are much like virtual envelopes that tell you how much you’re putting away and how much you have left to spend. The paid EveryDollar Plus program will allow you to connect your bank, view account balances from within the app, and receive call-back support and coaching calls. MINT is a free personal finance and budgeting tool from the makers of TurboTax. Not only will it bring together your bank accounts, credit cards, bills, and investments all in one place, but it can also help keep track of your credit score. Additionally, it includes budgeting tools that show every category of where your expenses are going and how to stay on track with your goals. Getting an instant look at your finances has never been easier.
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