Helping You Define Your Lifestyle

Effective Ways To Save For Your IRA

Retirement is a very important goal to save for. You need to make a call as to how to save your funds for retirement, whether it be in dedicated account like an IRA or in a 401K through your job or some combination. The potential for growth in compound interest is great, so that means that you need to be able to put as much money into them as possible.

Which is why you need a monthly budget and you need to stick to it. Budgets are great tools for keeping track of your monthly cash flow, income and investments. And once you get past the psychology of not being able to think about money, it can really help your spending habits. Because it provides a chance to prioritize what you value and what you need to spend money on.

First of all, pay yourself first. You need to have money in savings in order to invest in an IRA or some other account. So you need to be disciplined about saving money for yourself and your family. Bills, food, cars and entertainment all have their place, but paying yourself first needs to come first. And it is great to be able to automate it. When you create a regular transaction from your regular account to a savings account, that means it happens without thinking about it. You can also automate savings straight to your IRA.

Use multiple savings accounts. You need to have places to put money for emergencies, major purchases and regular expenditures. That way you always have a place to save your money.

How do you get that extra money? Look for a raise at work. You need to be able to talk to your boss about getting more money when you think you deserve it. It can be a hard conversation at first, but you can really increase your income the more you do it and the better you get at asking for raises. Keep an eye out for bonuses as well. If you budget correctly, found money like that can go straight into your IRA.

Then you need to look at your expenses. Do you need both a cleaning service and a landscaping service? Figure out which one you can live without and cut that one. How much do you spend on groceries each month? Where are ways you can cut that down? You can cut coupons out of the newspaper and figure out more economical ways of getting proper nutrition. Cheap protein, like eggs and beans are always a good solution.

Look at your local library. There are always great books there, but you can also find movies, TV shows and documentaries that you can borrow for free. That might provide a chance to break down your cable bill and allow you to cut the cord.

The ability to save for your IRA can be learned. You don’t have to be a natural saver. You can change your habits if you put the effort in. Learn how to cook more and learn where you can invest wisely to replace your job income with passive income. That will allow you to make more money, have more time and save for your IRA.

Leave a Reply

Your email address will not be published. Required fields are marked *

Could You Be the Next Crime Victim?

Being a victim of crime is something no one wants to be a part of.

That said are you doing everything within your power to lower the chances of being the next victim? If you are not, you could be setting yourself up for trouble.

With that in mind, what steps can you take to steer clear of being a crime victim?

Don’t Think It Can’t Happen to You

In your quest to steer clear of ending up a victim, your first step should be to understand that it can happen to anyone.

That said you want to avoid having the notion that you are immune to it. Even when you think you’ve taken all the right steps to avoid crime, it can still surprise you.

Among some of the crimes and how you can avoid them:

1. Identity theft – One of the more troublesome crimes, identity theft can strike at any time. With that being the case, you want to have an identity protection plan backing you up. Whether you look into LifeLock identity protection service or another brand, protect yourself. Such coverage will alert you to any red flags as you look to protect your finances. The most notable is someone without authority has tried to access your finances. Remember, one successful identity theft caper can have dire consequences for your finances.

2. Property theft – No matter the items involved, property theft is another crime you want to be aware of. With that in mind, you should make sure all your property has protection at all times. An example of this would be your vehicle. Are you someone who leaves their vehicle unlocked all or most of the times? If so, you are asking for trouble. Even if you lock your car or truck on a regular basis, do not leave valuables in it. Items like laptops, phones and significant money should never be in your vehicle. If you need to leave something of value in your vehicle for only a brief period of time, lock it in the trunk. At least this way it is out of the public view should someone come upon your vehicle.

3. Home invasion – Another crime to stay on top of would be a homeinvasion. In such a scenario, a criminal would break into your home whether you are there or not at the time. If you are, things could be even worse. To best protect your home, having a security system in place is a good start. If you do not have one now, go online and see which companies offer the best systems. You can check with friends to see which home security systems they recommend. Even with a security system in place, use some commonsense too. This means not leaving doors unlocked to start with. If you are going to be away for any extended period of time, be sure to have your mail/newspapers picked up. Also make sure your grass is trimmed and any snow is shoveled. Never give off signs that your home is sitting there without you around.

In your efforts to avoid being a crime victim, will you come out on top?

 

 

 

Office Rules To Boost Productivity

If you run an office then you will know only too well how the pace and quality of work seems to ebb and flow from day to day. Naturally you want the team to be firing on all cylinders as often as possible, so it is up to you to ensure that you have created an environment in which your staff can do just that. There are a great many office desk hacks which you can find online at places like https://www.businessbacker.com/ that will talk about how to get the best out of your staff.  We are going to look a little wider than that today and focus on rules which you should implement in the office, to ensure maximum productivity at all times.

Smart Planning

The first place to start is to look at the layout of the office, and think about whether or not it makes practical sense. For example if the printer is a heavily used item, but it is situated a 2 minute walk from most desks, think about how many minutes of work time you will be losing each day. Consider how the operation works in your office, and then move furniture and equipment around accordingly.

Cleaning Rule

It has been scientifically proven that physical clutter on desks and floors, leads to people being far less focussed and with low levels of concentration and organization. With this in mind there should certainly be a no clutter rule in the office, which everyone must follow.

Breaks

Aside from the usual breaks such as lunchtime and any short breaks in the afternoon, you should look to randomly give your staff 5 minutes here and there each day. It can be really easy for staff to get bogged down in their work, chained to the office desk all day, and they need respite. Pick random times when things are quite quiet, and call a 5 minute break where the staff must go out for fresh air. This may sound counter-productive but the renewed energy that your staff will have from a short, impromptu break, will reinvigorate them and help them to work better.

Exercise

More and more news is coming out that details the huge number of physical problems that office workers have, as a result of their job. To counter this, and to help increase their productivity and reduce sick days, you should encourage exercise in the work place. This doesn’t need to be something large, there are simple yoga techniques which can be done right from the office chair.

Penalties

Once you have put these rules in place, it is important that you have a penalty system for those who don’t follow them. This will be something aside from the disciplinary process, and it will have a bit more of a fun element to it. For example if someone receives 3 strikes for having clutter at their desk, they will be given some chores to do, or they will have to buy a cake for the office or perhaps even pick up someone else’s work. This penalty system will bring people together, and make your staff more focussed on the rules, and ultimately more productive.