Archive for May 2014

How to Reflect What You Desire

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If is a small word with many possibilities as well as limitations! The word reportedly appears in the Bible more than 1,500 times. The word is also a conjunction that means a “possibility, condition, or stipulation.” We must decide whether our situations will take a positive or negative connotation! It is up to us to turn stipulations into possibilities!

I am writing this because there are some things that I still want to accomplish in life. Seeing several students earn their doctorate degrees this month has reignited my desire to earn my doctorate degree. I know that I can finish what I started, if…I dedicate myself to earning it! If I remain focused, I can attract what I expect and reflect what I desire.

If I continue to be inspired by others, I will gain strength that I can overcome any obstacles just like they did! If I will read this post from time to time, I can use it to keep me accountable. If I reflect on the photo below of my soror earning her doctorate, it will help me to become what I respect and mirror what I admire. You can do it too!

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Video of the Week: Maya Angelou

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I feel extremely blessed to have heard Dr. Maya Angelou speak! When she came to our local university, my family and I refused to miss the opportunity to hear and see such a phenomenal woman. She was amazing, inspiring, and wonderful! She has touched so many lives with her beautiful words of wisdom, and she will be missed.

I am posting these videos to honor her life and legacy. May she rest in peace.

Phenomenal Woman:

Love Liberates:

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What is your favorite Maya Angelou poem? Please comment.

Photo of the Week: Happy Memorial Day!

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Click here for some ways that we can honor our fallen soldiers.

Video of the Week: Entertain Your Guests

It’s Memorial Day weekend! Surely, you will host or visit a family gathering! The question becomes: What room is best to entertain your guests? We all have options, and those options often depend on our financial identity. If you are thrifty, you my try a do-it-yourself project. If you like to splurge, your ideal home theater might cost a lot of money.

Watch the videos below and decide where you’d like to entertain for you next holiday.

Would you like to create a media room for your family and friends? Watch this d-i-y video:

Here are some amazing dream home theater ideas:

Better Money Management in 5 Steps

by: Randall Stewart

How well do you manage your money? Ultimately, your financial success depends on your ability to take better control of your financial affairs.

Here are 5 positive habits to help you become more effective in managing your money, no matter how much you start with:

1. Start by involving your whole family in the learning process.

Engage your whole family in learning about how to effectively manage money. Don’t keep your financial affairs or investments a secret. Ongoing communication about your financial matters is an absolute must if you would like to establish trust, accountability and a sense of financial peace within your household.

2. Reduce your debt load and expenses while increasing your savings.

Could you decrease your expenditures and be content with getting by with a little less? List three to five areas you could cut back on right away that would allow you to reallocate the money not spent to increase your savings over time.

Reducing your debt load may be a long-term goal, but once you eliminate the heavy burden of bad debt, you can begin accumulating wealth.

3. Gain peace of mind with your emergency fund.

There is nothing like being worry free of knowing how you will pay for the next crisis down the road. Your goal should be to build up enough reserve funds over the course of the next year to cover three to six months of your normal expenses.

Start by opening a savings account or money market account that doesn’t penalize you for deposits and withdrawals. Eventually, you will also be able to set aside additional savings for long-term projects such as vacations, post-secondary education or projects around the home.

4. Create balance in your money management plan.

The following money management plan allows you to build up your savings and rewards you every month for your efforts. Start by setting up separate accounts for each of the following categories and allocate funds in accordance with the recommended amounts:

10% of your net income for investing in your financial freedom

Your goal is to set aside money every month, building up your capital in various investments.

At no point in time should you spend the capital that you have already invested. You may reallocate capital to finance a project that is going to create wealth, but avoid the temptation to pay off any expenses.

10% for your education

Your financial literacy is fundamental to becoming a wise investor. This knowledge may be gained from a variety of sources, such as home self-study courses, workshops, seminars, books, CDs, websites and investment clubs.

10% for giving

Giving not only brings joy to others; it also brings you a sense of gratification in knowing that you are adding value to other people’s lives. Get into the habit of supporting your community and helping those in need.

10% for your emergency fund and future projects

As outlined already outlined, set aside money to cover any unforeseen expenses.

10% for play

Life should be enjoyed now and through retirement. A secret to managing money well is establishing balance between hard work and rewarding yourself. Your play account should be spent each month on ways that rejuvenate your body and spirit such as a weekend getaway for two, a meal in a classy restaurant or a day at a health spa.

50% for necessities

The majority of your monthly financial obligations or expenses fall into this category. Make a concerted effort to reduce your expenses in the early goings by cutting back on certain luxuries or desires. A key factor to getting ahead is coming to an agreement with your spouse about how you will manage your financial affairs, including your long-term financial goals.

5. Track your cash flow and your net worth.

Your cash flow analysis

An important aspect of controlling your money and being successful in the world of finances is keeping tabs on your cash flow on a regular basis. Your cash flow analysis is a written plan of how you spend your money. It is a simple cost-breakdown of your expenses, as seen in most budgets, and involves tracking your income and expenses on a monthly basis. Your cash flow analysis should take into account several important factors, such as:

  • your budget priorities as a family, based on your passions and dreams
  • the impact of your specific family values on your cash flow
  • specific short-term budgeting plans, as well as long-term projections over a six-month to one-year period.
  • One easy way to keep track of your cash flow is to use an electronic spreadsheet.
  • Your net worth
  • Besides monitoring your cash flow, it is important to periodically assess your net worth. To calculate your net worth, you need to total up the assets you possess and subtract your liabilities. Assets typically show up in categories such as:

  • investments,
  • bank accounts,
  • pension plans,
  • chattels or
  • equity in your personal residence.
  • On the other hand, liabilities include such categories as:

  • credit card debt,
  • long-term loans,
  • home mortgage,
  • taxes owing or
  • unpaid bills.
  • Calculate your net worth right now and then monitor your net worth every three to four months. The simplest way to keep track of your net worth is with an electronic spreadsheet.

    In summary, by implementing these 5 positive money management habits you will begin to realize your dreams for a better future. Keep in mind that what you focus your attention on will increase.

    About The Author

    Would you like to explore more money management or investment strategies? To help you better track your efforts, pick up various articles and free at http://stockinvestingsimplified.com.

    Photo of the Week: The Five W’s Of Life

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    Reflections on My First Year of Blogging

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    Hallelujah! I made it! I wish you could imagine how I feel about completing my first year of blogging. I launched, Stop Eating Money, a financial literacy blog, in May 2013. The mission of the blog has been (and will continue to be) to change perceptions, improve decision-making, and enhance money management skills.

    To fulfill this mission, I have been providing facts, statistics, and personal experiences that show you how money actually works! After careful research, I have also submitted articles, etc. that help others to improve their knowledge and skills to make better financial decisions. Despite several challenges, I have no regrets! I am grateful that I finally fulfilled my dream!

    I wouldn’t change it for anything! Okay. I’d like to have figured out how to make money. However, I trust that the money will come if I continue to love what I do. I still have the same questions from my very first post: “Are we investing our money? What are we doing to turn the money we have into more money?” I continue to challenge others:

    “What are we doing to help others achieve financial independence or survival? How should we respond to financial problems?” My feelings remain the same: “Talk is cheap! It is time for us to stop talking and start doing!” My blog will continue to be a vehicle for expressing my thoughts, helping people in my community, and making a difference in the world.

    Thank you for reading this post and all others!

    Spiritual Books

    by: Gian Kumar

    Spiritual books are known to be our best friends for their unconditional love towards us. Reading, generally, has always been one of our favourite hobbies. As far as spiritual inspiration and knowledge is concerned, there is no substitute of acquiring it other than from spiritual books. These books are fuel for our thoughts and beliefs, they provide us the inspiration and courage to stand up for what we feel is right for our growth.

    Spiritual books have begun to multiply in number in recent times. And it is true that once we go through the work of writers who have had spiritual inspiration, our lives get changed.

    Tired of leading stressful and unhappy lives, people with a desire to lead peaceful lives are resorting to spirituality. Thus spirituality is on the rise. Walking on the path of spirituality not only helps us to realise our real Self, but it also inspires us and drives us to lead a joyous life. If we intend to relax and attain peace of mind we should read spiritual books.

    A good way of selecting these inspiring books is to search online for them. We need to select a few good spiritual books available in the market and start reading it religiously. We should make a regular habit of reading them, set up a time of the day for the same, and put our whole mind on it. While reading spiritual books we should not be watching TV or eating or doing anything else.

    We slowly begin to see the world around us in a different perspective. We begin to comprehend why a person is behaving the way he/she is. We learn to take things in stride and move on without getting much baffled from his/her behaviour.

    Spiritual books help us clarify a lot of our doubts which otherwise seem difficult to resolve. We must believe that our time invested in spiritual reading will definitely change our lives. We become very positive. Our attitude and point of view for life also changes. Realizing our dreams and aspirations will become easy and we shall experience joys like never before.

    This blissful experience is an important facet of spiritual inspiration coming through books. Nonetheless, mere reading won’t help us unless we learn to apply these principles in our day to day affairs. Spirituality is not about reading alone, it is about being and becoming. We need to understand the writer’s point of view and begin to follow it in our lives with determination. This is important because without doing this spiritual books will produce no good results.

    For people like us who are moved by spiritual inspiration, it is necessary that we seek wholeheartedly until we reach our destination. And once we begin to find spiritual realisation, we must keep seeking until we are convinced, at the deepest level of our inner being, of the eternal reality that God, is our own real Self.

    For some of us, this realisation might happen in an instant explosive revelation; for others, it will occur quietly and gradually. Whenever it happens, we will all know.

    About The Author

    Spiritual Inspiration means realizing your full potential and attaining success as well as attaining happiness and peace of mind. It is also said, that among all knowledge, there is one that all of us should know, and that is Spirituality. For more information visit: www.booksonspirituality.com

    Photo of the Week: How to Achieve Your Goals

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    Read more here.

    The Best Mother’s Day Gifts

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    The best way to celebrate Mother’s Day is to be thankful and cherish the time you have with them. Many years ago, my mother went on to hear the Lord say…! I’m rejoicing because her spirit STILL resides within my family! Not only that, but she also left a wonderful legacy! She personified grace, strength, & dignity!

    I thank my personal angel for watching over me! I thank her for petitioning God on this (& that) side of heaven! I pray I’ll see her again on that great day! She was a devoted wife and mother, one who always put the interests of her family first! She saw to it that her children were given the best loving care, spiritual nourishment, and material comforts.

    She was also a lovable person, who never met a stranger! Yet, she always worked quietly in the background (praying and doing whatever she could to help her husband in the Pastoral Ministry). I can only hope to be half the woman that she was…! Then, I know I will see her again! As I cherish her precious memory, I hope you will have a wonderful Mother’s Day!