Category: Saving Tips For Moms

3 Pitfalls of Uncontrolled Spending

Uncontrolled spending is some of the biggest problems of many people around the world.

Typically, whenever a person receives money – either through salary or loan – he will feel exuberant and end up buying unnecessary stuff.

A ‘pleasure center’ is also common among many people, and it prompts them to buy things that can bring lots of fun – regardless of the cost. If you’re guilty of uncontrolled spending, you should stop as soon as possible.


Here are the pitfalls of uncontrolled spending:


Compromised Financial Position

If you spend out of impulse, you’d have lesser money to purchase things that really matter for you and your family. This is the situation of thousands of borrowers around the world. Instead of stowing away your cash for savings, you’d end up staring at the things you purchased. You may even need to sacrifice things for the consequences of your actions. A compromised financial position is very frustrating. It will lead to more wrong decisions in the future.


No Room for Savings

Without a room for savings, you’ll lead a life full of risks. Whenever something happens, you won’t have a contingency fund to use. This will lead you to borrow money and pay for high interest. So, you should start saving as soon as possible. Even few bills can help a lot because they will compound over time. You should even teach your kids about the importance of saving. Better yet – create a family savings stash. This stash will prompt all of you to save money and acquire bigger savings as the years roll by.


A Miserable Life

After spending your money unwisely and you’re left with little financial options, what’s next for you? Now, you have a miserable life for the coming years. You’ll be stressed upon knowing that you have no savings to cover key situations in your life. You may even rely on fast cash loans just to get by. Surely, you don’t want that kind of life, right? Well, it’s not yet too late. Envision the life you want, then take realistic steps towards that vision. Know what things are at stake if you continuously give in to your spending impulses.


Proper planning is the key to stop your impulse to spend uncontrollably. It’s important to create a financial plan so that you’d know how much money is coming in and going out per month. Eventually, you will become a responsible spender and you’d be able to control your life.

Saving Tips For Moms

3 Easy Ways to Prepare for Retirement

Retirement – a phase that many people don’t pay attention to. This phase is far off the road and it paints a mental picture of old people enjoying serene beaches and parks. However, times have really changed. It’s wiser to prepare for retirement while you’re still young and full of energy. Also, there are modern institutions and groups that can help you fund your retirement.

But if you want to fund your retirement on your own, these are some workable strategies that you can apply:


Build a Scaling Savings Fund

A savings fund is a good thing, but a scaling savings fund is even better. What’s the difference between the two? Basically, a scaling fund means that any amount of money you put towards it will have increments. The amount will be cumulative so that your savings fund will keep on growing. This technique is useful because it will cover all possible expenses during your retirement phase. You just need to be financially disciplined in putting cumulative amounts. It’s like having a growing financial nest egg driven by your efforts.


Seek Investments

Securing investments is the traditional way of preparing for your retirement. There are many investment options that you can choose from, such as stocks, bonds, mutual funds, commodities, jewelries, master resale rights, online assets, royalties, collectibles, and treasuries. You can even invest in startups or in people, but you need to be wary in doing so. With the help of the Internet, educating yourself about these investments is not a difficult thing to do. You just need to spend time in researching and understanding markets related to your investment.


Use Leverage

Check out the worlds’ richest business people.

How do you think they reached their financial prowess? The answer is leverage.

You can use leverage in funding your retirement. First, you need to create a system that can be duplicated by thousands of people.

Second, you must live out that system honestly so that you can reap its benefits. A leverage-based system can help you attain wealth, resources, or influential contacts that can benefit your retirement. The earlier you work on this system, the more successful it can become.


We all have different methods in approaching retirement. You can even choose the age when you’re going to retire. What’s important is that you accumulate as many resources and memories as you can. By doing so, you can enjoy your golden years peacefully.

Saving Tips For Moms