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Happy New Year From All Of Us At Strategy Based Profits

Money Coach, Financial Coach Internet Marketing Strategies, Article Marketing, Business CoachingFrom all of us at Strategy Based Profits we want to wish you and your family a Happy, Healthy, Safe and Prosperous New Year.

May 2011 be the best year ever!

Why Saving Money Is A Must In Today’s Society! (Hurry, Get On The Bandwagon)

Saving Money

Everybody knows that it is imperative to Save Money. With the meltdown of the stock market and the real estate market, saving money has never been more important.  Each type of saver wears a different hat.  There are people saving substantial amounts of money.  There are some that can only save a little bit of money and there are some that can’t seem to save a penny no matter how much money they seem to make.

Only few individuals have a tendency to save money consistently with ease. The habit of saving must be developed in children so that they grow up to become wise spenders. A proper mindset can help individuals overcome this problem.

There are various techniques which can be applied to save large sums of money. Adopting these practices will help in attaining your saving goals. The easiest way to save money is to limit the amount of times with which individuals go out. It makes sense if one is trying to save money cutting back on extra expenses is a smart way to go.

Another easy habit to adapt is shopping during a sale.  Also shopping through online stores can provide products at discounted rates leading to extra cash for saving.  Online outlets are another place to consider for discounted prices.  Try to cut down expenses which are not necessities.

Some other tips are to have a single car in the family; this will reduce car payments and insurance.  Cutting down on electricity during the daytime and lowering the heat when no one is home will also have a significant impact on the bottom line.  Small steps go a long way in saving money.

Easy yet effective money saving strategies can be employed into a daily routine in order to save more money on a monthly basis. These money saving tips will help on the short term basis and they will also produce good long term results as well.

Strategy Based Profits Tip – Look at what you are spending money on, look at what can be cut and start socking the money away!

Robert J. Roy
Money Man

Kids Make Money Online; It’s The Wave Of The Future!

Kids Make Money OnlineGeneration next is coming up with unique and innovative ideas of making money online. These kids earn their allowances to make their life financially independent. This gives them freedom to earn as much they want. Their ideas are exceptionally good and some of which are listed below:

  • Online money making is a wonderful opportunity for young children. They can make money by playing games, proofreading, e-mail reading etc. These are the easiest way of generating extra money. Moreover, these are so much fun!
  • Selling their used toys, game and books at the online auction sites is another great way for kids to make money online.
  • Setting up a website and selling items that the child has made or promoting a band are some good uses of the internet for kids.
  • Creating and maintaining blogs online serves multiple purposes for kids.  It teaches them responsibility and as the blog gets more popular advertisers will pay to get on their website
  • Some children have the ability to write very well.  For them article writing offers a wonderful opportunity to express themselves and get paid for it.
  • Online advertisements such as craigslist will give kids another opportunity to sell their items online.

These were just few options for kids to make money online.  The internet can be a tricky place for kids and some children are not street smart enough to sniff out a scam.  It is the duty of the parents to lead their kids in the right direction so that they don’t fall into the wrong trap.

Today’s kids are very tech savvy so it is a natural choice for them to gravitate towards the internet when it comes to making money.  Parents should do everything in their power to support their decision and watch over them closely by offering help with the business end as well as keeping a watchful eye on them at all times.

Strategy Based Profits Tip – Today’s children have a huge advantage over their parents when it comes to computers.  It is important that when they want to spread their wings into their own business that parents support them.  Help them through the rough spots and watch that they don’t get hung up with scammers!

Robert J. Roy
Money Man

Making Quick Money Online Can Be Achieved By All Interested!

Making Quick Money Online, moneycoach, making money online, making quick money, financial coachEveryone is looking for quick, simple and easy ways to make money online these days. People are so fast and want to do things in a magical way.

Those who lost their jobs require quick money and the internet is a very good platform for fulfilling this requirement. Here are some possible ways to make money really fast money without any heavy investment.

  • Sell your stuff on internet- The best part about this is it does not require a huge investment. The only requirement is a good understanding of the online purchasing process. This is one simple and direct source of income.
  • Online surveys- You can be a member of a website which conducts surveys from time to time and get paid for each form filled. This is the easiest way to earn quick money. Although you will not get rich off of this many people only need a few dollars a month to go from negative to positive.
  • Affiliate marketing- This is the use of advertisements, articles etc to attract more traffic to a particular website. Companies pay commission to websites for promoting their product.
  • Article writing- There are thousands of websites that pay for each article written for them. This helps their websites for improving their ranking in search engine results. If someone has a skill for writing, this one may work very well for them.
  • Get a second job- Instead of relying totally upon the regular source of income get an extra job to earn a little bit more. Delivering pizzas, mowing the grass, working in Home Depot, etc.
  • Advertising campaigns- Joining the advertisement campaign of any company is an easy and quick way to earn. Due to immense competition companies are paying good amount to people for promoting their product.

There are tens of thousands of ways to make money but the most important thing to remember is to understand your real potential. Be aware of the fraudulent activities which are offering big bonuses in a short span of time. Basically Get-Rich-Quick-Schemes don’t work. Before starting any activity gather full information related to it. This will help to solve the problems which may arise in future. Hitting the right track will definitely demand accurate information and good research.

Strategy Based Profits TIP: – Make a list of the things you are good at and a list of things you like to do. If you have any overlap between them that’s a homerun.  If there’s no overlap it’s still a good solid double.  Research, research, research anything you take on!

Robert J. Roy
Money Man

Stress Is Killing Us A Little At A Time!

Money Coach, Financial Coach, Making Money Online, Online Business, Stress ReductionThe economic downturn isn’t showing any signs of recovery any time soon.  The stock market gives us a false sense of security as the Dow rises for no apparent reason and then tumbles 1000 points in 15 minutes and it goes back up 700 points in 20 minutes.

Not only has Fear has set in it’s engraining itself in many people’s daily lives.  So how does one cope with those fears?  How do we as a society handle the stress that accompanies these fears?

Here are some ways to help cope with the daily stress that people deal with:

  1. Go To Bed – The experts tell us adults need a good 7 – 8 hours of sleep per day.  If a person is not getting enough sleep they are adding to the stress in their lives.  Make a point of setting a bed time and sticking to it.
  2. Get The Motor Running – Exercise is an important part of any daily stress reduction program.  One doesn’t need to join a gym, but they do need to get moving.  Even a walk for 30 minutes at lunch time can be a great help.
  3. Clean Up Your Plate – We’re not talking about food, we are talking about a person planning out their daily lives.  Most people today are so busy they can’t seem to get enough done in a day.  Set up a plan of attack every day, determine what will be done each day and in what order.  Having lots of balls in the air and not seeing a finish line dramatically raises the stress level.  This is a big one.
  4. Clean Up The Workspace – Weather it is a desk at work, a shop out in the garage or the kitchen area, keep it organized.  For many people it’s a bunch of little things that raises their stress level.  Having a work area clean and organized will eliminate many of these little stressors that creep into a daily routine.
  5. Junk In, Junk Out – Healthy snacks are a much better choice than a bag of chips or a candy bar when it comes to stress reduction.  At around 2:00pm a person’s energy level drops off so they reach for a candy bar and in a little while their energy is back on track.  Until the crash sets in, it’s called a sugar high.  Stay off of that roller coaster it isn’t good for controlling stress.

Stress leads to many major diseases such as heart attack, high blood pressure and a host of others.  A lot can be accomplished when a person takes a few simple steps to change some of their habits.  Don’t try to do all of these at one time, pick one to start off with and work them into your daily schedule.

Strategy Based Profits TIP: – Set up a daily plan, include exercise, eating right and getting to bed on time and keep your work area clean.  These simple tips will go a long way.

Robert J. Roy
Money Man

#1 Making Money Opportunities, The Winner Is The Internet!

The internet has emerged as a boon for web professionals and non professionals alike. Apart from becoming a source of entertainment and information it is becoming a good source of income as well. Due to its global approach people prefer it for searching out job opportunities the old fashion way. One can search out thousands of part time and full time jobs online in a short period of time. The reason for the internet’s popularity is its easy availability and it requires less work to get the desired results. The Internet is a place where an individual’s talents can pay off. There is huge scope of online jobs and one can choose from tons of opportunities to make extra money apart from regular jobs.

Internet jobs are not time bound, the firms that outsource their assignments to online workers declares a deadline and one is supposed to complete the work before it. Online jobs offer great flexibility in working hours. This in turn provides the freedom to work from anywhere and at anytime. The major advantage of such flexibility is the day to day stress from personal life and the pressures of work. One can look after the family, hang out with friends while working and earning a good amount of money. The Internet provides wonderful opportunities to those who have a problem getting around or leaving their homes.

The World Wide Web gives one access to thousands of these opportunities across the world. This gives global exposure to the individual and helps in developing confidence. Online jobs allow a person to develop their skills sets while getting paid. On the other hand, due to the lack of job opportunities, which have caused the unemployment rate to skyrocket, some people are becoming frustrated with looking for a normal nine to five job. This is where the internet comes into play.  There are online money making opportunities that can help those people in coping up with their frustrations of not finding a job. Looking for income source on internet requires lots of precautions and care. Just as the internet has opened up doors for the average person to earn extra money it has also opened the way to scammers taking advantage of that same individual trying to get ahead. There are cases where one does not get paid after completing the assignments, or the worker was asked to give a credit card number for supplies and a scammer ripped them off.

These warnings are not meant to scare people; instead they should cause people to use caution and good judgment in accepting online work.  The important thing is proper research is always done on the company that the individual is considering working for. The internet has truly blown the doors open for the average person to find extra income.  Spend a little time doing proper due diligence and the world is your oyster!

Strategy Based Profits TIP: – Get online and search for work in your field of expertise.  Research the company you are considering and be cautious of scammers!

Robert J. Roy
Money Man

The Debt Killer, Eliminating Your Debt Forever!

The term debt relates to the position of a person or an obligation to pay something to another person. A person who agrees to pay something to another person is called creditor and to whom it is given is a debtor. Many companies use debt as a source of capital. They use it to finance their day to day as well as long term operations. In many cases this is a good thing.  There are times when individuals and companies overextend themselves and need a way out.

There are many types of debt such as secured and unsecured, syndicated and private and private and public etc. Ultimately it would be better to not have any debt outstanding if possible. Some people try very hard to eliminate or reduce it as quickly as possible. There are others who are stuck and are not sure what to do. They need to institute a debt reduction and debt management plan.  If they are not able to institute these things on their own then professional help may be necessary.

Before going for debt elimination help people should analyze their actual position. This will give them the ability to plan accordingly. There are different forms of debt elimination. This includes debt management, debt counseling, debt negotiation, debt settlement, debt consolidation etc. These all help in the following ways:

  • Debt management helps people to make financial plans according to the circumstances. This may include payment of debt in monthly installments depending upon the monthly expenses. This can be done on your own or with the use of a professional.
  • Debt counseling provides advice on how to tackle your debts. This is a kind of service provided by the people who are specialist in their field. There are debt counseling agencies that are providing services to the people by charging a small fee. Beware of large upfront fees for this service.
  • Debt negotiation is a fast way to eliminate debt. People may reduce their debt to minimum which can be paid easily.
  • Debt settlement includes settling whole of the debts in a much planned way to avoid bankruptcy. Many companies would rather have a piece of the pie than lose it all.
  • Debt consolidation reduces the amount of payment and the interest thereon. This helps to reduces debt of education loan, auto loans, credit card debt etc.

Debts are not meant to be a way of life. These should be eliminated as soon as possible. Debt elimination is a powerful way to get rid out of debts and secure a healthy lifestyle with less stress.

Strategy Based Profits TIP: – Create a list of all of your debt, the interest rate on each account and how long it will take to pay it off with the minimum payment made every month.  Create a plan using the five debt strategies listed above.  Don’t use credit casds as a way of life.

Robert J. Roy
Money Man

Debt Is An Ugly Word (How To Get Out Of It Quickly)! Part 2

In part 1 we discussed the different ways people can borrow money, in part 2 we will discuss how to reduce the debt the hardship has brought you.  Once you are in a better place financially you will want to start focusing on your debt.

Family and Friends – This is a sticky situation.  Some family and even a few friends will not want you to pay them back the money you borrowed.  Even if they do not want you to pay them back it is advisable to do so anyway.  If you ever have a need again in the future to borrow money they will be more likely to do so if you paid back the original loan.

Personal Loan – There is not too much you can do here.  These types of vehicles are usually fixed and have a defined payment over a specified period of time.

Retirement Plan – When discussing the withdrawal with your tax advisor you should also discuss if you will need to repay the money to the plan or not.  I am not a big fan of taking this money in the first place what good is it for retirement if you have to live on the streets today.  If possible and the laws allow you to repay it, by all means do so if possible.  Get that money back into its tax deferred or tax free plan.

Home Equity Line Of Credit and Credit Card Debt – I bunched both of these together on purpose.  There is a specific payback method that we will review here.  This makes it easy to put these two together. 

Let’s say you have been using these two instruments to get you through your hardships.  You have not only maxed out your credit cards but you also added debt to your Home Equity Line Of Credit.  There are a few steps to take to work out a proper repayment plan.  This type of plan has been time tested and is proven to work.  It is the fastest repayment plan I have ever seen.

Sit down with your spouse and plan on spending an hour or two on this.  You want your spouse with you because this plan will affect the both of you.  Start working through these steps:

1- Although you may have already done this when you were going through the financial hardship you should do this exercise again.  Discuss if there are any things you can cut out of your budget or are there any things you can cut back on.  If you do come up with some dollars that you can cut back on write the total number that you came up with down and put it on the side for now.

2- Have all current credit card statements and any Home Equity Line Of Credit statement out for review.

3- List all of the HELOC and credit card debt out in dollar amount order.  List the dollar amounts from the lowest first to the highest dollar amount.  For example you have three credit cards that have balances of $975, $28,320, and $23,187.  You also have a HELOC total debt of $78,950.  List the lowest debt first ($975, $23,187, $28320, $78,950)

4- What you are going to do is pay the minimum amount on all debts you have listed on the paper.  This holds true for all of them except the lowest payment you have.  You will take any extra money you have for the month (including the extra money you put away in step number one above) and you will send all of the extra dollars you have to the lowest balance credit card.  So let’s say your monthly payment on that $975 credit card debt is $60.00, you found an additional $40.00 per month that you were able to cut back on, you would then send $100.00 to the credit card that has the lowest balance.  You will keep doing this until the lowest balance credit card is paid off.

5- Now you have an additional $100.00 to apply to the next lowest credit card balance you have.  You will keep doing this until all of your debt is gone.  Once you get started it is a snowball effect.  The start is slow but the plan will start picking up steam and eventually it will get going very quickly.

Getting in debt can take full and total control of a family’s finances.  Make sure to do what you can to get the money to pay it down.

Strategy Based Profits TIP: – Do what you can to cut expenses, start paying sown the debt and watch the debt start to snowball away.

Robert J. Roy
Money Man

Debt Is An Ugly Word (How To Get Out Of It Quickly)! Part 1

Most people are not fortunate enough to go through life without running into some form of financial troubles.  For some people they lose their jobs for others they have a medical condition that sets in and in some cases there is a death in the family.  All of these things and many others could cause some form of financial hardship on an individual or family.

When this happens there are limited choices of how to keep a roof over your family’s head and food on the table.  You do what you can but the bills tend to pile up and you can’t seem to get your head above the water. First let’s discuss the places you might be able to get your hands on the finances you will need to work through the hard times.

Family and Friends – I didn’t say you would like the choices but you must consider your family and possibly a friend or two to help you through these trying times.

Personal Loan – If you have good credit you may be able to get the money from the bank or other financial institution.

Retirement Plan – You may be eligible to use the money that is in your retirement plans for personal hardship.  Check with your tax advisor on the rules for these.

Home Equity Line Of Credit – This is also known as a HELOC.  Although this is a choice keep in mind that your debt will now have equity behind it.  What I am referring to is that the bank has an asset to hold against your debt (your home).  This one should be a last resort.

Credit Card – Credit cards are the vehicle that many individuals and families wind up using to help get them through the rough patches.  There is no wonder that as a country we are in so much trouble with this type of debt.

In Part #2 we will discuss how to reduce the debt that the hardship has brought you.

Children And Savings (The Top 3 Strategies For Teaching Kids About Saving Money)

Historically parents have not done a good job on teaching their children about money or saving money.  Parents send their children to school and they feel that the school and the teachers in the school will teach the kids about money.  WRONG, that couldn’t be further from the truth.

I am asked over and over again when is a good time to get started?  How early should I start teaching my children about saving?  Many parents believe that they should wait until he child is a little older (teenagers) before they teach them about money and savings.

I teach parents to start teaching their children around the age of three or four.  Yes, you heard me right, start teaching them around three or four.  You are not going to beat them over the head about savings but you should start teaching them about money.

Here are three of the top strategies for teaching kids about saving money:

1) What Is Money And How Does It Work – Start teaching your children early.  Don’t wait on this, this is a critical step.  Teach your children what real money is worth, use coins and bills in the educational process.  Explain how much each coin is worth.  Show them one and five dollar bills, teach them how to read each bill.

2) Set Up A Savings Plan – Historically parents use various methods for savings.  Although some are better than others the important thing is that you are doing something.  There are three methods that you can use, here they are:

A) The Piggy Bank – When using a piggy bank allow your children to put the money in the bank themselves.  What you are doing is you are getting them used to putting their money in the bank.  Psychologically you are getting them used to savings because they are placing the money in the bank themselves.

B) A Savings Account – Placing the money in a savings account is a great way to save money for your children.  It is not a good way for your children to learn about saving money for themselves.  I am not against putting money into a savings account but what I am in favor of is to have your children go to the bank with you and let them hand their money to the teller.  This gets them used to making deposits at an early age.

C) A Jar System – Using clear plastic containers to save money in is a wonderful idea.  If your child is saving for a particular item that they want to buy, let’s say there is a new doll that they want, you would have a clear jar for them to put the money in.  The visualization of the money in the jar is a very powerful motivator to get them to want to save more.

3) Allowance – Take a few chores around the house or in your business and give it a dollar amount that it is worth.  You could also do this with tasks for your business, your kids could file, do data entry, etc.  This next part is an important psychological step, when you pay them, don’t call it allowance, instead call it commission.  Get them used to getting paid for what they do.

Teaching your children about money and savings is a very important process that parents should teach their children.  Start them off young and you will engrain your kids with this wonderful lesson.

Strategy Based Profits TIP: – Teach them young and remember it is a never ending process!

Robert J. Roy
Money Man

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