We have just two days left to complete the money managing rituals. I sincerely hope all of you would have without fail followed the steps. On the sixth day we are going to turn our attention towards emergency fund.

It is quite important to have an emergency fund set up, as you never know what emergency situation might encounter you. When we face such situations, it is not only embarrassing to seek favours from various sources, but it is also quite dangerous not to cat quickly due to lack of money.

Hence by all means once should try and save for those rainy days. Make sure you allot at least 10% of your take home pay towards emergency fund. You cannot compromise on this one. If you could add more to the fund, the better. But if you have more debt piling up, try to clear that off first by paying more debt payments and allotting only a small portion towards emergency fund. Once the debt comes down considerably, you could put more money to the emergency fund.

If you have been doing this much so far without any interruptions, then i assure you that your financial success is guaranteed if you follow the same path throughout.

The possibility of acquiring a decently paid job is quite difficult these days, given the scenario of the recession hit world and whats more difficult is being in a high paid job and maintaining it.

But does your high paying job make you pay more price in terms of losing your quality time with family, leading a stressful life, and inability to do something of your choice in a leisure time?

Then why don’t you consider shifting your job? Do i sound Insane? Well i might but i have my own point to be put across. When you reduce the expenses by adopting to a less expensive life style, you wouldn’t be threatened by the fact that you might have to lose your high paid job. This way your options for a decently paid job would be more, you could turn your hobby into income by investing sometime in a side business and spend your weekend with your family.

Get the picture now? Well give it a thought and share with me  your experiences and decisions.

Still haven’t taken a step to manage your money? Well you aren’t alone, there are a million waiting for an auspicious day to begin this sacred ritual. So i thought why not do this together? Yes lets all start to manage our money and fix all our financial troubles in this week. Lets take the first step now.

Day 1:

Today is the first day in our ritual. Lets spend half hour and take the most important step. Calculate our personal net worth. All we have to do today is dig up all old documents or if you have  great memory, sit with a diary to write down all your assets, its value and then the value of the liabilities and finally subtract the liability from the assets. Bhoom!!! You have just calculated your net worth.

Yes thats was simple isn’t? Yes thats all we are going to do today. Tomorrow we will take our next step. Till then relax!!! We are surely going to fix your finances in 7 days.

Somehow frugality has always been linked with giving up pleasures of  life. According to me it is a very wrong notion. You could enjoy all the small and big pleasures of life while still saving money.

Here is a list of things you could do to reduce your spending:

Sell the Items you don’t Use Anymore:

Find out the items that you have not been using for a long time and sell them. It might be your old books, CDs or even a home appliance. Sell them, create some more space at your home and enjoy the free space and money that comes out of selling.

Save on Energy:

Replace light bulbls by CFLs and LEDs .

Unplug aplliances when they are not working.

Switch off lights and fans when you leave the room.

Seal the air leaks in your home.

Do a regular maintenance check on all appliances.

Save on Cell Phone:

Unless you have a valid reason to use cell phone heavily, replace your plan to pay as you go. Try using Skype whenever possible and reduce the frequency of using your cell phone.

Buy the Regular Stuff in Bulk:

Be it oil, soaps or even your body spray, if you are something regularly, buy it in bulk for it comes cheap.

Make use of a Library:

The next time you want to watch a  movies or read a book, think of signing up for a library membership.

I am a huge fan of  finance blogs and never fail to update myself time and again with what experts have to save. So i thought why not share with my readers 5 blogs i think that would be useful for them to save money?

So here we go

My Good Cents

For those who want to be informed of shopping offers, deals, best buys, coupons and give aways, this blog is just perfect and has a lot to offer.

Simple Dollar Truth

This is one of my most favorite Personal Finance blogs and i simply love their content.

Frugal Dad

This is another favorite personal finance blog with a lot of useful information, interesting and humorous articles.

Lower My Energy Bill

If your looking for ways to save money on your utility bills then this is the right place to see.

Hillbilly Housewife

If you are looking for delicious recipes to be made at a cheap cost then there are many mouthwatering frugal recipes here.

This is my list. What about yours?

You must have already known that asking for a better deal from utility provides regularly could save you a lot of money, but did you know you could apply the same rule to your bank?

Are you still using a brick and mortar bank like i do? Then here are some tips that might help you.

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It is believed that money is something not to be mentioned in a polite conversation. But this rule doesn’t apply if you’re in a serious relationship with someone.

Talking about money to your significant other is an important part of your relationship, if you are planning for a future together. Here are some things you must remember while talking about money to your partner.

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College is one of the most important phases of everyone’s life as it provides experiences that are most valuable at a later stage. It is important to start being careful about money at this stage as there are greater chances to yield to temptation when you are a freshmen. Having finished four years of Engineering, i am reflecting upon the mistakes i had done and wonder how not making them could have enriched my life. But no regrets!!! Sometimes people have to make mistakes to learn the most important lessons in life.

As i was recounting my experiences in college, i thought why not make a post for freshmen on how to save money while on campus. This especially would be useful for students who stay away from home.

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There isn’t anyone who would go away from the word ‘Rich’. However not everyone is able to embrace richness, this is because the rich are disciplined about money and follow some rules to make that money stay and multiply.

Here are 4 Tips you could practice to become rich:

Love the process more than the result:

If you keep on thinking abot becoming rich without enjoying the efforts taken, it could be a difficult journey ahead. Hence although the amount you save each month might be less, be happy that you are doing your job.

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Hi Everyone! We have come across various tips to save money, to build wealth and start investing. Yet some of us remain hesitant towards taking our first steps. I not going to give up. I will do my job to keep you all as much motivated as possible. Today i am gonna give you all 4 simple lessons about money.

Lesson 1

Never spend more than you earn. It is simple mathematics. Spend as much less as possible than you earn, the more the gap is the more beneficial it is for you.

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