Good idea and how to remember and do it?

Do you guys remember when you have this great idea, and you want to write it, but you don't have the time. Maybe the time is not right for you, and you postpone it until you forgot about it.
2. The benefit

We all have great ideas, after all we created by the most creative God in the universe. But sometimes we forgot things, we might have it now, but we might forgot when we try to recall about it.

It's important to put your ideas into action. Dozen ideas only cost you a penny. Do you understand? Even if you have so many brilliant ideas, but you never put action into it. It will all become meaningless.

This is how do it. I always have something to write down with me, everywhere I go. For me I have my blackberry device. For some of you guys, you might want to have a notebook. So every time I have something creative, I write an email to my self. But I only put few points that will make me remember.

This is the template that I use:
1. What you want to talk about
2. The benefit of the topic
3. The application

Example
1. Be on time
2. People will look me differently
3. Put a reminder for meetings.

That's all I want to share today, I hope it can be a blessing for you guys,

Cheers,
MoneyKid

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Increase in earning might Increase your spending too

Today I just hired a new driver. I hope he can make my day easier. I've been looking for a driver since 4 months ago. But I couldn't just post an ad on the news paper, because I want a driver that can be trusted.

Sometimes we just think that if we earn US$1000/month then we got US$12000 for 1 year. We forgot many factors behind that earning. It's a human nature to spend more when they earn more. So when you have a goal and a plan, please also get 10% or 15% from your earning before you set it.

So if you get $1000/month, probably you will only save $850 max, it might be less. It depend on how your spending habit is.

You could move back a few years, and see that what are the things that you won't buy at that time, and what about now? Maybe at that time, you won't spend $20 on food, but now it's a different story.

So as your earning goes up, your spending will also goes up too. So just be careful. =)

Cheers,
Moneykid

Keep your promise and be on time!

I have a meeting with one of friend at 10 this morning and I've been waiting since 9 am for him to reply my sms. Well now it's 10:16 and he still haven't reply my sms. I think he gonna cancel this meeting. Actually this is the 2nd time he cancel on me. Yesterday we also set up a meeting, but he cancel it around 1 hour before the meeting.

From this event, I want to remind you guys to be always on time when you have a meeting. I know, sometime you might think that the person is not so important. But if you do this again and again, and it's become a habit, then it will affect your relationships. What about if you have an important meeting in the furute, will you also be late? I always try my best to be on time all the time. I have a thinking of "waiting is better than late", so I always arrived at the meeting place 15 minutes before, or if I'll be late. I'll let the person know, at least 1/2 before, so we can shift the meeting time.

All of you know that we must keep our promise right? We never been taught to break our promise right? But as time goes by, we tend to break our promises. We think that, we'll make it up to them in the future. I was like that. But as grow up, and start building this business.. I know that if you break 1 promise to one of your clients, then..boom! It will hurt your business. Keep breaking promise to your spouse, and you will see what's gonna happen. Keep every small promises you make, and believe that you will reap the reward. Only promise someone when you know you can keep it.

Well...
I'm still waiting =)

Moneykid

Make your plan to Succeed

Sometimes the days gone by so easily. Ask yourself do you remember what you did yesterday? How about last week? Did you do something meaningful last month or last year. The days seem to be gone in vain.
We need a Plan. When you don't have a plan for your future, is like when you driving without direction. Have you ever been in a car with a few friends, you want to have dinner together, but you just don't know where and you keep on driving..and driving...such a pain in the ass right? It will be much better if you know where do you want to eat first, then it will be much shorter driving. =) Right?

First you must write down what did you do today. for example:

7:00 wake up
7:30 office
8:00 work
10:00 break time
10:30 work
12:00 lunch time
13:00 cafe
14:00 home
15:00 do nothing...
20:00 dinner..
........
23:00 sleep.

Something like that. And also you should write down what you want to happen (if you're not lazy, if you have the time etc).

7:00 wake up
7:30 breakfast
8:00 Work
10:00 break time
10:30 work
12:00 lunch time
13:00 work
14:00 work
17:30 cafe
18:00 bath

20:00 dinner at home (spend time with family)
21:00 watching movie with spouse
22:30  sleep




Something like that. And do the same for the weekly.

By doing this, you may review what have you done yesterday, and review it at a weekly basis. Is that really what you want to do? Are you heading towards your goals and dreams? If that what you really want to do, then that's good. But, if after you compare the two list you found many thing doesn't match with the reality. Then you can slowly fix those things right?

If you don't have time to do it on a daily basis, then you can start by doing it weekly. Then moving into daily if you feel comfortable with the weekly.

I hope you can improve your life by doing this, and moving closer towards your dream.

Empower your self

A set of goals would empower you and you could then proceed to begin and follow your journey or voyage by setting your desired goals. Goal setting is indeed very necessary if you would like to empower yourself, as it is the initial step towards a more satisfying and fulfilling life. So to use personal empowerment to develop and further enhance your life, ample support from family, friends and relatives are essential and you need discipline as well to create and come up with the right and best decision in your life. Goal setting could be in the form of the achievable and the feasible and also, those which are not within your ability and your budget but that could be addressed later.

Personal empowerment will allow you to follow the dreams that are not within your means now. Take those small steps and set attainable and reachable goals within a brief time frame so that you would feel empowered when you accomplish them. Achieving goals become easier as you pursue and persist to empower yourself. You could take your time to experience your growth personally as it can be very empowering to aspire to move on and be more in life. There are several rewards you can reap to personal empowerment but you really need to think forward as goal setting would enhance your life for the better and likewise help you to attain more.

Inspiring moments are also helpful and it could enliven you more and move on to pursue and foresee more personal goals. As you pursue and reach every small goal, you can see positive and better changes in you and the succeeding set of goals become more and more challenging. You would begin to look forward to it and personal empowerment would form a life you truly desire and always dreamed about. Every personal growth would heighten and intensify your sense of power and ideas and ambition are no longer out of reach. You may also need to map out a group or team of action to handle with the several obstacles in life as they delay and postpone one’s progress.

Always bear in mind to keep pushing yourself and think positive at all times, as they can be so empowering. Get rid of the negative vibrations and feelings. It will take time, yet try to make it a routine to think more on a positive note. Turning negative into something optimistic is a good distinctive feature and never, ever giving up as endurance and perseverance and patient and tolerant in overcoming the many barriers and hindrances, and always looking forward is truly important to empower oneself. To create something out of your own life, there are myriad of ways out there but each begins with a small step.

To begin empowering yourself, you have to do things which truly interest you and along the way, you would be the person ever you will hold in high regard. Don’t stop empowering yourself because your personal empowerment and growth as a person will bring about self worth and positive image.

Reward yourself!

This is my new camera, =D Yay!

Today I want to share about rewarding your self. It's important to save money and manage your income. Use it wisely. But reward your self once in a while!

Many people beat their self up day and night to earn money, they did not take care of their needs. If you didn't take care of your needs then you will feel tired and soon you'll get frustrated. It's important to have a hobby, don't be afraid, as long as it's still in your capability, GET THEM! ^_^V

2 people, 2 Mall, 2 Suicide

Today is a really weird day. There are two people commit suicide. The first one is in Grand Indonesia (currently the biggest mall in Jakarta) and the second one is in Senayan City. I don't know what the connection between those two, but it's surely a really2 weird day in Indonesia. 2 people, 2 mall, 2 suicidal case. =_="

Man...what's goin on in this world..so scary.

A little attitude problem...

I'm in my hotel room alone, and in this quality time I want to share something with you guys.

You are matured, when you're not thinking of your self anymore, you put other on top of the list.

After we went to the church, we were invited for lunch at the local famous restaurant. The food was nice, it's so fresh. I remember one time when one my relative faced to choices between giving the vegetable to me or to his girlfriend (don't ask what about him, he got some for his self first). So the first thing for him, is him self. He didn't offer anyone else, but he took some for him self, and 2ndly, he gave the rest of it to his girlfriend and left me with "nothing".

When you have a chance to change your attitude, do change! So you can be a better person and more successful. You'll never know small victories will lead you to your grand victory! =D God bless you.

Interesting Sales method

Hi guys! ^_^
I got this very interesting "sales" trick for you guys. I got this from a plumber who fix my water system at my new house.

Yesterday he come to my house to fix the water system in my house, and after the long explanation, he conclude that I have to change the pump and I need to change several things as well. Before I gave him the decision, I asked him how much is the price of the pump? He said " I gonna call one of the store that I know, I happen to remember the store telephone number". So he called the store, and spoke to the sales with the "speaker" on so I can hear the conversation. At that conversation the sales told him the price of the pump etc, he asked few brand names and quote the price. After that we decided to buy the Shimizu pump.

To cut the story short, in the morning I gave him a call and told him that he should buy the pump at my uncle store. And very interestingly, he said " Ah, if I buy it from that store he got a 20% discount, but it's up to you". So.....he got around 20% discount that he didn't tell me yesterday. I was about to pay the full amount for the pump, man .....=__=". Knowing that all of us need to "profit", I told him that it's okay just buy the pump from the store that he mentioned earlier then. Well he want to profit from my, but I manage to "see" it. =D It's okay.

Well it's very interesting to know that we can imply that in our everyday life too. You got the story, and I know all of you guys are clever enough to implement this to all your need.

Business vs Working doesn't matter. FOCUS!

About 2 days ago we got a party at my house, it's my grandma b'day. I was in a conversation with my cousin and we're talking about what he going to do after he graduated. He told me that he don't want to work, he said working won't get you anywhere. The starting salary here in Indonesia is indeed very low. It's only $85 /month. Well for him, maybe he could get $200-$250/month.

He told me that, with the $200 salary he couldn't even get a motorcycle, car and got get a house it would be impossible. He keep saying bad things about working bla bla bla, they don't get this, they don't get that, etc2. And I stop him there. I said, working is not that bad. So I tell him how some of my friends manage to get $2500-3500 a month working.

I didn't know if my story change his mind of not, but I do believe that a dog can never be a bird and a bird could never bark. You get "the idea" right? If you have a talent in medical, be a doctor, nurse, heart specialist. Don't try to be a dancer or a singer.

But hey, some of you might say that. I know some doctors who can dance and sing. Well yes, if you know the 80-20 principal then you must know that we must focus our 80 percent effort on that 20 percent skill we good at. Don't diversify your time and life just to be an average person. Be excellent in one small particular area, you'll be amazed how high you can go. Look at michael jackson, elvis presley, donald trump, bill gates all of these people have a specific skill that they developed and make them successful.

So never underestimate what you can do, do what you can, at your best, anywhere, with what you have, no matter the situation. I get the quote from Theodore R.

God Bless,

Just a reminder, don't be scared of your future!

For unto whomsoever much is given, of hime shall be much required: and to whom men have committed much, of him they will ask the more.

If you didn't know it, I'm a devoted christian. I've changed so much because of Him in my life. I just want to share what I got. Not to persuade you guys to become a christian but just sharing what change me and bless me all of my life.


I understand that many people want to earn more and more money. I also know that we have unlimited need and limited supply. But as I listen to the word Yesterday I come to realize that when I receive more, yes indeed, I have more responsibility.


For example, when I was young I don't have to pay for my telephone bills, electricity and etc. I got my own pocket money from my parent and they fulfill all I need. I though, if I can earn $xxx I be very rich. But today when I'm 28 years old. I got at least $25k to $30k a month. How about my expenses? Are they the same when I was in Uni? Of course not.


Today I have to pay for everything. I have staffs to be paid every months. Sometime I have to help people in need. Now I understand that with a great blessing come a great responsibility. So blessing first...remember that.


Many people scared to face the future. "What if mentality". I said, when the time comes He will surely provide all you need. Trust me! I'm a living proof! When the time is right, you will got the money to pay for your wedding, for you children school fee, all of your needs will be taken care of. =)


So don't be afraid, when the times is come, that broken puzzle will fit perfectly! Yehey!

Better to Prevent it

Hi guys,
Do you have a printer? Does it have that "CISS"? CISS stands for Continuous Ink Supply System. If you got it, you must know that you need to print something at least 1 a week, better if you can print once in 3 days. Well, I didn't do it for about 3 months or so... and the result is my printer head is clogged, now I need to go and fix it.

That's the story and this is the application in life. Many times in life, you look back and you regret of doing this and that. My mum always told me, "It's better to prevent it, rather than fixing it!". For me, I regret that I spend too much on my credit card. When I look at the statement, man...they are a lot! Around $1800 at that time. It's not that I can't pay $1800, but the feeling of regret is just there...=P

So from time to time, I train my self to not buying things that are not needed. So instead of regret later, I choose to hold my self. The same goes to you guys. It's easier to save money rather than earning more money right? By saving more money, means you have more in your pocket. =)

God bless, I hope it can open your mind. =)

Opps...I forgot...

Have you ever been disappointed because your friend didn't keep his/her promise? I'm sure you have, so Do I. This morning I have an appointment with one of my friend. He told me that he will come to my house to show me the invitation card. Now it's 11 O'clock and still no sign of him.

My coffee it's getting cold, I didn't go to the office, I didn't repair my printer all...because of waiting for him. He never know that he caused all of these things.

So it's important to keep your promise no matter what, just do your best. If you think you can't do it, you shouldn't promise. Better for you to say "you can't" in the first place, rather than ruin your reputation right? And plus, you are wasting their time. =)

So next time you want to make a promise, please stop for a while and really check your schedule. Will you really do it?

Ciao =D
It's 11:15 now, and ..still... no sign of him..hahahaha =D

Don't just manage your money

Sometimes we only ask God when we pray to bless us with a lot of things. But we forget to ask Him to bless us so we can enjoy what we have too.

Does it really matter when you have a lot of money buy you're sick in bed? You have a nice car but you can't drive it. You have the best golf driver buy you can't go to the field.

I used to be someone who just think about earning money and never give enough attention to my health. But I've changed now. I think what money will bring if I can't enjoy it.

So I encourage all of you guys to start giving attention to you health. It's better to prevent it than curing it. =)

God bless you.

Me and My naive thought

Today, I'm going to let you know the starting point of my sucessfull journey. Just like John Maxwell said, "success is a process", you can be a successful person today! How do you feel if you can live everyday of your life successfully?

Ok, so...
I was graduated in 2005, I was so naïve before thinking that I will get at least $1500/month from my father. I thought, when I get back to my home country, I will work at my father company and I will make it big! I will reconstruct the company. I said to my girl friend.

My big sister asked me, " How much do you think his monthly profit (my dad), so that he can give you $1500/ month? I stop for a while, and... I'm speechless for a while, then I replay, "maybe around $5000 to $10000 a month and when I get back, I will make his company growing hence more profit!

I arrived in my home town, I start working 1 month after I get back. I look at the "book" and surprisingly, I just found out that he didn't make that much! The company is in a stagnant condition, because my dad made a bad investment 2 or 3 years ago. Man, my dream of getting $1500 destroyed at that moment.

For your information, in my country, the average monthly earning or salary is about $200-$600, and in a rare occasion people can get $1500/month. Those things, I just found out when I get back to my country.

So now my earning is $0, because it would be impossible for me to ask money from my dad's company. So what shoud I do?

I will continue next time with my story about "PTC program called 12daily" that change my life, I got $2000 per month from referral alone! Stay tuned, see ya next time! God bless you!

MoneykidMaster Budgeting 101

This is How I create a budget

I use this steps every month, after I got the earning report from my accountant. Because I know that money is the root of all evil, IF you controlled by it. And money is the center in almost all of family problem. It's all come back to money.

How do I know that? I've been there. =)

Why people having problem with money? Because they don't know how to manage it. First step to fix your money problem is BUDGETING.

• List what you have in your inventory
  
  Asset, Loan, Mortgage, everything. List them down. Don't be afraid!
  

• Look where you money goes
  
  Track your spending, where you spend your money most. Supermarket is the number 1 suspect here. Buying too much gadget? You go to club often? Track them down!
  

• Start building your Budget
  
  By building budget you know exactly how much money that will go out from your wallet, and how much money you can save ahead. It's like creating a plan for your future. Remember of your spouse, children, parents, and people who you loves, keep them in mind.
  

• Set a financial goal.
  
  Set your goal and purpose in life. Because life without goal and purpose will be meaningless. Say to your self that you will have a better tomorrow for you children, or for your parents. Or you want to have $100.000 saving by next year. That should motivate you. =)
  

Learning to be wiser in spending cash

It's 10 am and I'm still at home. Feeling a bit sleepy. =PToday I want to share about how I spend my money, and I think it's gonna be useful for you.

I saw many people made a big mistake in their spending habit. They bought things they don't need, or above what they can afford. For example, one of my friend bought this fancy necklace for his girlfriend that cost him $300. After he bought it, he said to me that he feel regret that he bought that thing and that decision keep haunting him day after day. Well to some of you guys, $300 is not so much. But for him, $300 almost drain all of his saving.

That's just an example, you can go from $300 to $3000 or to $300.000. The amount doesn't really mater, what really matter is that he drain almost all his saving, because of his impulsiveness.

I also have a bad experience buying things more than I can afford. When I was studying in Australia, I really love gadget. I spend most of my money buying these gadget. One of the day, I bought this camera from EBAY that cost me about $2500, that's including shipping. How much did I earn at that time? Zero. After I got the camera, the happiness only last for about 2 weeks and that's it! The camera was sitting there on my computer table everyday, USELESS. I bougth that olympus personal video glasses, I forgot the name. I also bought another Digital camera, SONY DSC F707.

Until one day I found out that my cousin buy a "TAG HEUER" $700, using his saving, and he going back to our home country bringing $2000 saving. That's shocking, All of my things is depreciate in value, well sure TAG watches also depreciate in value, but not like my digital camera and my Sony Micro mv!

But for your information, that event didn't stop me from buying this GADGET. When I went back to Indonesia, I thought that I need a new phone to replace my old SE P800. When I get back to Indonesia, I got around $15000 saving ( I will let you know later how did I get it). Never held that much amount of money, I began in searching for a super mobile phone. At that time, DOPOD 900 is the most expensive phone on the market, and it cost me around $1000 to bought that thing. After I got the phone, I feel like "superhero". Remember when you were kid, when you got your first bike? How long did it last? (the feeling). It only last for few weeks right? days maybe. That goes the same for me too! It only last for 1 week, and I sold it for $750 in the 2nd week!

That's the last time I ever bought those useless things! We all want something right now, right at this moment, that will cost us a fortune (new car, new watches, new gadget, new laptop, new dress, new bag, etc). But please sit back and think for a while. Will the spending affect your cashflow? Will it make you feel guilty? Will you regret after you spend your money?

Nowadays I'm into luxury watches, and I only buy them below the market price. I buy property not a new car. I buy diamond or gold but not a new gadget. I buy education (books, cds, and attend seminars) rather than spending my money in the club.

You KNOW when you've made a right decision. I feel happy now when I bought my $1000 cross trainer. Why? Because it's usefull for me and the rest of my family. Invest in your HEALTH. You can have all of the money in the world, but if you're sick. You cannot enjoy it right?

Ok, time to go.
See you!

Forex from my point of view.

Forex from my point of view.

Some people might sucess in forex trading, but most of them fail. Why? Because they don't have enough education. When you trade without education, it's the same like driving without a driver license. Sure you can drive, but you will eventually crash your car.

One bad apple ruin the whole basket. Yes yes yes, it's so true. When one person fail in the forex masket they tend to spread a bad rumor about it. That's why so many people say the forex is bad, forex will drain your bank account. Because of one uneducated person, who never study anything about stochastic, trend line, MACD, forex money management, and etc, forex got a bad name.


I've been there myself, I'm not into forex anymore at this momeny. I choose to trade in the real liife. Sure I made a lot of money in real life trading, but I also believe that you can made a lot of money too trading forex.

I believe with education, knowledge, and experience in the forex world, you can be a sucessful trader. So start small, open a mini account, read a lot of good book about trading, try to attend few seminars.

And one more thing, don't be affraid to fail! At least you try it, right? So there will be regret later. It's better to fail early and get up to be a stronger person, rather than never ever try and become a coward.

Who Am I?

This blog will mainly discuss about managing your money, and before that. I would like to introduce my self, so you know my background etc. So....

Hello, my name is Al , 28 years, and my earning is $30000/month. I got my bachelor degree in multimedia in 2005, (i shud have graduated in 2003, well...I'm very lazy). I'm just an ordinary boy from Indonesia who have a big dream for my future.

Right now, I still live in my parent's house and still driving a 2005 SUV that cost me $20000 2 years ago. Wearing a $1200 watch and $200 wallet. I live an "ok" live. Go to church every sunday, but still making the same "sin". I can't be prefect, I try my best to be a blessing for all of the people around me. And still want to make many new businesses.

Why I'm telling all of this to you guys? Because, I want to let you know that I came from an ordinary family, not so poor not so rich, I'm not so clever (graduate after 5 years in Uni) ...sooo ordinary. =)

I will share my story about my life, from $0/month to $30.000/month and still increasing!!! =D. How did I do it, and how many failures happen along the way.

Sorry about the "bad" english hahaha, must be because of my "laziness" in australia. I got "P" almost for all of my subjects.

I hope what I will share here with you will be a blessing for you guys and I hope that I can be as transparent as I wanna be =)

Avoid Money Management Mistakes

Below are some tips that may work for you:
1.NO SPENDING PLAN.
The "where does the money go?" question frequently comes up because of spending on a day-to-day basis, without any sort of plan for taking care of needs and wants.
Here's where a money management program can help you spend your money wisely, to reach your goals.

First, set up priorities: know your regular expenses; determine what your goals are in relation to short-and long-range aims. Take critical look at your expenses and weed out those that don't give real satisfaction.It's not how much you earn, it's what you do with your money.

2.NO CASH RESERVE. Financial experts recommend that every family have a cash reserve of at least 50 percent of their annual income. To acquire this means developing good saving habits and self-restraint in spending. There is a definite need to save so you have an emergency fund when unexpected expenses arise.
Knowing you have a safety margin of savings will also give you a feeling of security and greater peace of mind. And don't forget a savings account enhances your credit standing.

3.TOO MUCH USE OF CREDIT. Using credit can be a real help or a trouble spot. depending upon how you use credit. The biggest problem usually is that families overextend themselves and become committed to larger payments than they can meet.

Credit terms differ, too. Shop carefully for credit--as carefully as you do for goods and services. Be sure time installments fit into your budget and don't take on more than you can handle. Know the cost of credit terms. The real cost. Keep track of expenditures made with charge accounts or credit cards, so the bills won't come as a big surprise to you. And pay on time to keep your credit rating solid.

4.NON-CONSTRUCTIVE USE OF WINDFALLS. You receive a tax refund, a bonus or raise, perhaps an inheritance. Most families are inclined to spend the extra money on luxuries they wouldn't ordinarily consider. And poof, the money's gone.
There are many ways to put "windfalls" to constructive use. Add pay raises to your savings before you get in the habit of spending the extra money. Use refunds or bonuses for needed large purchases, such as major appliances. You'll also save paying out interest charges.

5.NO PROVISIONS FOR LARGE EXPENSES. We all have large, predictable obligations that come due at irregular intervals during the year. A large, forgotten insurance premium or tax bill can cause financial chaos if you've neglected to accumulate sufficient reserves.
Take all your big items and divide the total by 12. This 1/12th should be reserved every month against the time those bills will be due.

6.UNDERESTIMATING THE COST OF OWNERSHIP. The original cost is sometimes not the only cost of ownership. This is especially true of an automobile. Many of the costs are obvious but some get overlooked until we collide with them, head on. If a car is bought on an installment basis, monthly payments are just a small part of the cost of operating it. Figure on all the costs. Operating expenses are: gas and oil , repairs, maintenance, tires, insurance. Other costs include registration, license, parking, tolls, etc. In addition, a new car costing $11,000 depreciates in value by about $2,500 during the first year. While depreciation is not an out-of-pocket cost, it does become one when the car is traded on another one.

7.SPENDING LEAKS. Impulse buying--frittering away small amounts here and there on "little" things--can add up to a surprisingly big amount. Write down every cent you spend for a week and take a good hard look at your spending "leaks." Then try to control these trouble spots.
Avoid shopping for groceries when you are hungry. You'll buy more of those tempting goodies that can run up your bill.
Avoid "killing time" in department stores. (You're sure to come away with something you hadn't planned on buying.) Use an allowance and keep within it. Once you can resist the temptation of spending "small" amounts, you'll have more money for the things you really want.

8.CARELESS SHOPPING HABITS. There are always pressures on us to buy things. Our wants are greater than our needs. And advertisers help exert this pressure. This leads to purchasing things we don't really need and to buying without comparing values and prices.
Before you buy, know the dealer and the store's reputation. Read labels, understand warranties and contracts. Avoid pressure tactics by salespersons.

9.NOT SAVING SMALL AMOUNTS. Don't be discouraged if the amount you can save looks pitifully small. Believe that little acorns do make big oaks. Ten dollars saved every week will be more than $1,000 in less than two years. Does that seem a long time? It will go faster than you can imagine. Remember how quickly the past two years sped by?

10.CAN'T WAIT ATTITUDE. This money management mistake hits young people the hardest. And is the cause of much unhappiness. They often want to start off at a level that it may have taken their parents twenty-five years to reach.
The "great American dream," as portrayed by movies, television, and magazines, is beyond the financial reach of most families and is never reached by overusing credit.
What is needed is more of a "save now and buy later" approach. Plus, a money management plan to help get the things wanted as soon as possible.

Forex Money Management Fundamental to Trading Success

It is important to remember that the aim of trading forex is to make money. Therefore irrespective of how good your currency trading strategies are, if you don't have any money management skills, you are not going to succeed in the long term.

Learning how to manage your money is an important lesson that you must be familiar because it will effect your level of trading risk. To reduce the financial risk you are exposed to you must use a stop loss on every trade. Position size and the number of open positions will also effect the amount of your risk. Although brokers may offer 200:1 and 100:1 leverage doesn't mean you are required to use it.

You must also learn how to control yourself on instances that you are profiting and avoid over investing. You must learn when to exit in a losing trade especially when you are about to reach your loss limit. Forex traders with effective money management skills can live through bad trades without losing all of their capital.

Determining your money managment rules will depend on your risk profile, trading capital and financial goals. It's up to you to determine how much you are willing to risk. Conservative traders risk between 1% and 2% of their trading capital in any one trade.

There are various money management techniques that traders can formulate to allocate and protect their trading capital. A simple and common money management method that is widely used is explained as follows:

1. Determine what percentage of your trading capital you are willing to lose in any one trade. For example if you are willing to lose 2% and your trading capital is $25,000 then you will limit your loss to $500 for any one trade.

2. Determine where you will set your stop loss order, this is normally a set price in pips away from your entry point. For example a stop loss of 25 pips is about $250 per regular sized contracts of $100,000

3. Determine how many contracts you will purchase. As from step 2 above you are willing to risk $500 and from step 3 your stop loss is $250, therefore dividing $500 by $250 means you can purchase 2 contracts. With a standard account and with 100:1 leverage, 2 contracts will require $2,000 of margin deposit.
A good money management principle is never to leverage more than 1/5th of your trading capital at any one time. For example, with $25,000 of trading capital, you should never use more than $5000 of your margin deposit at any one time, which is about 5 regular sized contracts.

An important concept of forex money management is the application of the risk/reward ratio. Before you enter a trade, you need to work out how much you intend to make from that trade and how much you are willing to risk. Generally a risk/reward ratio of about 1:1.5 or greater is necessary. For instance, if your risk/reward ratio is 1:3 and you set your stop loss at 25 pips away from your entry point, then your profit target would be 75 pips. As the trade progresses, suppose you are in profit by 25 pips, you could move your stop loss order to the entry point. This ensures you will not lose any money on that trade, you would 'break even' if you were stopped out. You could also move the stop loss order to lock in some profit, for example when you are 25 pips in profit you can move your stop loss to 15 pips above your entry point. This will ensure that you will exit with a 15 pip profit if your stop loss order is triggered. Therefore good forex money management requires monitoring of your open positions and making adjustments to your risk parameters. You must never move your stop loss order except to lock in existing profits

It is important to continually exercise discipline when trading forex. Good traders have taken the time and energy to build up their skills and confidence in the market. A successful forex trader always adheres to their money management rules. Consistent application of effective money management is crucial to surviving in the long term.

Tips to Help You Save Money

There are literally thousands of ways you can save money but as many things related to personal finances, not all will work for you. Saving money isn’t top-ten-goldsomething you can do easily.
To be really successful at it, you need to work at it by coming up with you own ideas and be more proactive about saving cash. But there are some good general rules of thumb that can get you started to savings. Here are 10 good starts:
1.Budget Your Income
This is one of the most important, most widely discussed step towards saving money. While it may seem as though people are beating a proverbial dead horse, the reality is budgeting is a necessity. You can only know how much money to save if you know how much money you make. Knowing exactly how your money is managed will allow you to make important financial decisions, thus saving you cash.

2. Cut Out Un-Necessities
To save money, you need to start at home. Humans need three basic things: food, clothing, and shelter. There is no law that says you have to have the premium cable package, a Gucci bag, or lobsters in the freezer. Chances are good that if you looked around your own home, you will likely find a lot of things you can cut out of your life. Not only are you reducing the amount of money you are spending each month, you are de-cluttering your life and your living space, which can be both healthy and freeing.

3. Shop Loyally
While they may seem like a pain, those shopper rewards cards can save you a pretty penny. By coordinating your shopping with the weekly specials flier at your local grocery store, you can be sure to save on and stock up on your needed pantry staples.

4. Shop With a List
Do not go window shopping out of boredom. It can lead to many unnecessary impulse buys. Shop only when you need to and buy only what is on your list, to help avoid your wandering eye. Keep your shopping list available for you to write down items you know you need at home throughout the week. Go to the store only once a week and keep your refrigerator stocked so you don’t have to run to the convenience store several times a week.

5. Wait on Big Buys
Want something that costs a lot? Well, if you want to save money, practice waiting. If after a week or two you still want to make the buy, go for it but not before you check out competing prices and find the best deal. You might be surprised to find that after the waiting period, you may not want to make the purchase at all, saving you the most money of all.

6. Use Coupons
There are so many more resources now for coupons than ever before thanks to the internet. There are several sites that send you automatic alerts to let you know when and where the sales are based on your preferences. You can still use the newspaper and the store sales fliers to find the typical coupons but don’t be afraid to expand your search online. It is also advisable that you take the coupons and store them in your vehicle so you can never leave them behind when you shop. Regularly clean out the expired coupons and keep them organized in a manner that will allow you to easily find the ones you are looking for when you need them.

7. Buy Used
There are many quality items you can buy used and save a fortune. Furniture, clothing, books, and other items can be found at yard sales, auctions, second-hand and consignment stores, estate sales, and online for far cheaper than in any store. Many times, especially with furniture, you will find it is of much higher quality than today’s pieces.

8. Skip the Trends
When you work too hard to keep up with the proverbial ‘Jones’, you can end up spending more money than you even have in reality. While it may be nice to have the top of the line car, designer clothing, and other trendy items, if you can’t afford them, you’ll find yourself undeniably in debt fast. Instead of buying what’s in now, buy quality items that will last for a long time to come. Keep it basic and avoid having to replace things simply because the style or color or functionality is no longer cool.

9. Quit Your Bad Habits
If you smoke, drug, or use drugs recreationally, you are essentially flushing good money down the toilet while jeopardizing your health. Now is a great time and money can be a great motivator for giving up expensive habits and addictions. When you spend money on such things, you are wasting money that could be put towards your future and that of your family’s. Additionally, the costs of medical treatments as the result of bad habits can cost you big time for a long time.

10. Start from Scratch and Recycle
When you continue to buy processed, pre-packaged foods and other items, you end up over time spending much more than you would if you bought the basic staples and stretch the capacity of their use. Food is just one of the items you can make up from scratch that will save you money. You also need to learn how to find other uses for stuff you may no longer need. Recycling items into other uses can take some creativity but it will definitely make you and your money more self-sufficient

Budget Help Your Personal Money Management

For many families, the whole idea of managing money seems bothersome and almost hopeless. They believe that
money managementmeans living by a rigid set of do's and don'ts, pinching pennies, and keeping a lot of records.

Actually, managing your money has three simple aspects: deciding what you want your money to do for you; creating a workable spending plan, and following your plan with determination.
The first step means making choices--deciding which of the things money can buy are more important to you than others. Most of the money we make has to be spent on essentials such as food, shelter, and clothing. Nevertheless, there are many choices we can make. For example, we can economize on food and housing in order to afford a better vacation or pursue a hobby. Your family may enjoy sports or the theatre more than a fancy automobile. Every family is different. Remember, the idea is to make your money do what you want it to do.

Creating a workable spending plan means translating your goals into a budget. How much for food, shelter, and other expenses each month. How much you need to put into a reserve fund for infrequent expenses such as car repairs or insurance. How much goes into savings. You need not compute these amounts down to the last penny. But you do need some kind of spending plan.

The last step is obvious but important. You must follow the plan you've created and avoid financial detours. You shouldn't be completely inflexible because unexpected money needs--or changes in your overall plan--may arise. But you should be consistent and reasonably faithful to your budget.

While some pencil and paper work will be required in any money management plan,the bookkeeping needn't be complicated at all. It can be as simple or as detailed as you wish to make it. You can start with rough estimates and refine your figures later on. The important thing is to have some records that show you're following your plan.

Keep in mind that you're not keeping books for a company. It's not important that you account for every penny spent but that you control your spending and saving. The most important factor in any money management program is your determination to control your money so that you get the most out of your income.
HOW TO SET UP YOUR PLAN

Money management should be a joint family effort. Every one old enough to spend money should be involved in the basic decisions of how the money will be spent. Who will do the bill paying, and who will keep the records. this is a good time to discuss personal allowances and other individual expenses. Let all family members participate, and they will be more inclined to cooperate.

You know that certain expenses are essential and others optional. You also know that some of your income should be set aside for savings. With this in mind, establish some priorities.

Set up a reserve fund for those once- or twice-a-year expenses so that you can budget for them throughout the year. For example, if you make two $300 life insurance payments each year, you should set aside $50 a month for insurance in your reserve fund.

Use the budget worksheet as a guide in setting up your budget. You know that by spending according to the amounts you've established, your money will go where you want it to go.
WHEN ALL DOESN'T GO ACCORDING TO PLAN

Don't be surprised if your budget doesn't work out perfectly all of the time. Expect the unexpected. Maybe this is the year you'll be hit with an unusually large dental expense. Or next month an unexpected auto repair bill. Don't let these emergencies shake your faith in your spending plan. Here's where your savings can come to the rescue. Or, perhaps you'll have a readjust your budget for the future. Maybe you'll have to cut down on entertainment for awhile to spend more on something more essential. These adjustments are perfectly normal and should be expected. Make the adjustment and continue on from there. But stick to some kind of plan

MONEY MANAGEMENT HELPERS

You'll find the job of managing your money a whole lot easier if you make use of these helpers:

Checking Account. Paying bills by check gives you a permanent record of the payments. You can simply go back over your check register or statement to find out how much you spent for various items in your budget. To make the job even easier, write a budget classification number or letter (for example. "F" for food) on the check register. Your records from previous years can be used in setting up your trial budget. They'll tell you how much you have spent in the past for budgeted items.

Savings Account. Use one or more savings accounts for your regular savings program and for putting money in reserve for future expenses. Many people prefer to put monthly contributions toward vacations, Christmas gifts, and other once-a-year expenses into separate savings accounts earmarked for these purposes.

As far as your regular savings program is concerned, there is one rule to follow which will ensure success. PAY YOURSELF FIRST. Deposit whatever amount you budget for savings into your savings account every payday--before you have a chance to spend the money on other things. You'll be amazed at how quickly your savings grow--and how little you miss not having the money to spend.

Record Book. The forms in the back of Personal Money Management, provide you with a record keeping system that will be extremely helpful. First write in the budgeted amount for each category. Later on, with the help of your checkbook, write down the actual expenditures. You'll be able to see at a glance how your actual expenditures compare with the amounts you budgeted.

Techniques of investment-boosting and portfolio-multiplying

Money management is a strategic technique employed at making money yield the highest of interest-yielding
value for any amount of it spent.Spending money to provide answers to all cravings(regardless of whether they are justifiable or not to be included in budget basket)is a natural human phenomenon.The idea of money management techniques is developed to plummet the amount individual,firm and institutions spends on items that add no significant value to its living standard,long-term portfolios and asset-basins.Warren Buffet,in one of his documentaries,admonished prospective investors to embrace his highly-esteemed "frugality" ideology.This is the basis of every sound money management formulas.The following are powerful techniques that can be employed in making every expense made to be worth it: 1.cutting your budget on social needs 2.avoid any snob-appealing expense 3.always go for the most cost-efective alternative(establishing small quality-variance bench-mark, if any) 4.increase expenses more on interest bearing item than any other thing 5.establish the expected benefits of every desired expense using the canon of plus/minus/nil to standard of living value system.These techniques are investment-boosting and portfolio-multiplying.

Introduction to Money Management

Money management is used in Investment management and deals with the question of how much risk a decision
maker should take in situations where uncertainty is present. More precisely what percentage or what part of the decision maker's wealth should be put into risk in order to maximize the decision maker's utility function.

Money management gives practical advice among others for gambling and for stock trading as well.

Money management can mean gaining greater control over outgoings and incomings, both in personal and business perspective. Greater money management can be achieved by establishing budgets and analysing costs and income etc.