Tired of Being Broke in Vegas? Avoid These 7 Bad Money Habits

7 Bad Money Habits

Making ends meet and struggling to provide for necessities can be a challenging task; especially when you have bad money habits. If you are tired of living day to day, here are seven bad habits to avoid that will save you from being broke.

1. Spending More Than You Earn

Don’t act like a country; they are the only ones allowed to spend more than what they have. Get to know your deficit. According to the National Financial Capability study, 1 in 5 Americans spend more than they make and at least 38% can’t break even. Spending less than what you earn is critical for you to save something for another day.

2. Thinking Credit Cards Are Free Money

Credit cards are great when used in a bad financial situation. However, this particular plastic in your pocketbook is the greatest promoter of lousy money habits as it allows you to spend on impulse abandoning your budget plans. So sticking to your budget and keeping your credit in your wallet is one of the best money habits you can have.

3. Ignoring Your Bills

More than one-third of your FICO credit score is determined by your ability to pay bills on time. When your credit card bill, car insurance or utility bill arrives, pay it before the due date. Devise a payment method and plan with your creditor before it goes to collections. Your financial future depends on it.

4. Hanging with Other Broke People

When you consider your friends, are they financially successful? If the answer is no, then you need to start spending time with people who are successful. Good money habits will rub off on you, and any advice you get about finances comes from people who practice what they preach.

5. Dreading Your Paycheck

Stop wasting your energy complaining about your measly paycheck. Use that energy to get where you want your earnings to be and improve your salary. Do you think you should make more money? You need to negotiate for a raise. Talk to your boss so that you understand what’s required to get that bump in your pay.

In case you’re of significant value to the organization, the supervisor will be able to notice the implicit threat if you leave for a better-paying job. Remember, the best time to look for more lucrative opportunities is while you still have a job.

6. Making Excuses for Not Saving Money

Start saving now. You can put money in a savings account where you can’t access it unless during emergencies. It’s easier and less stressful to make financial decisions when you know you have some extra cash in your account that will cover emergencies. Second, focus on how to save money on things that you do. Never purchase something on a whim or without researching the price from a few different stores.

7. Request for Loans

Sometimes personal loans in Las Vegas can be a boost to your financial strength when borrowed and used in the right manner. Personal loans can be used to start money generating projects that will contribute to your overall financial stability. This will, therefore, enable you to take care of some bills hence increasing the saving power.

Conclusion

Breaking your financial routines may take significant effort and time. Engaging habits that will enable you to build your bottom line by paying bills on time, making use of technology and increasing your savings and income will be worth your effort and time in the long run.

Business Funding: How To Get The Money You Need

Lots of people come up with excellent business ideas during their lives. However, only a select few will ever launch a company. That is because the process is often complicated, and many entrepreneurs don’t know where to start. There are many guides online that help to simplify the venture. So, people just need to perform a lot of research and ensure they leave no stone unturned. For the purpose of today’s post, we’re going to focus on funding. Unless you have a good track record, you might struggle to get the money you need through traditional means. Still, there is no reason to stress because there are plenty of other options on the table. Just read this article and work out which solution is best for you.

Go to the bank

Before you do anything else, you should book an appointment to see your bank manager. Of course, you need to develop your business plan first. That is the document that will highlight the nature of your company and how you will make a profit. With a bit of luck, the bank will decide that your idea is going to work. If that happens, they should provide you with the capital you require to get things off the ground. Just make sure your business plan also contains a guide to how you will grow the operation. If you don’t have any luck with the bank, there is no need to worry. There are lots of other ways to get the startup money you need. Just try one of the other suggestions below. However, most banks are willing to lend these days. So, you might get lucky.

Contact private equity firms

Getting an investment from private equity firms is often a little easier than the last solution. There are hundreds of companies out there, and you just need to make a shortlist of the most suitable. Once you’ve done that, you can get in touch with them and try to arrange some meetings. Pitch your idea and provide them with your business plan in advance. The only issue is that private equity firms will want to take a percentage of your business. That means you might have to part with 10%, 20%, or more. Of course, there is always room for negotiation. For that reason, you need to work on your skills. You can always take another person along to the meeting if you think it will help. Also, make sure you use visual aids like PowerPoint presentations.

Get a second job

Sometimes you have to work hard to get the money you require. With that in mind, you might consider getting a second job. It’s not the ideal method of raising cash, but it’s better than nothing. Don’t worry if you don’t have much time on your hands at the moment. You could become a freelancer and just earn money whenever you have a free moment. There are also lots of work from home jobs available these days. You just need to search online for the most popular roles. You can then work out which is most suitable for you, and send some applications. At the end of the day, you must believe in your business idea. If you don’t want to take a risk of that nature, nobody else will either. Considering that, sometimes you just have to bite the bullet and get your head down.

Ask friends and family

If all else fails, you might have some luck if you speak to friends and family members. They might be able to raise the money you require between them. It all depends on your ability to convince them your concept is going to make a profit. Who knows? Maybe your aunt has just sold her home for a profit? Maybe your uncle just received a large payout from his workplace? Either way, you should only ask them to part with their cash if you’re 100% confident with your business idea. The last thing you need is for family members to fall out with you because they lost their investment. So, think long and hard before selecting that option. While it might be possible, you don’t want to cause anyone trouble.

Crowdfund the business

There are hundreds of different crowdfunding websites online today. The idea is that you list your pitch and opportunity. Interested parties then get in touch to make you an offer. It’s an especially useful method if your business benefits society. For example, people are more willing to invest in a company that offers green technology than something that harms the planet. You get the idea, right? Still, that doesn’t mean other entrepreneurs won’t be successful. It’s often down to the luck of the draw. You just need to register with as many sites and possible and wait a month or so. With a bit of luck, someone will see value in your idea. They will then send the money you require.

Remortgage your home

If you still struggle to get the cash injection you need, remortgaging your home is always an option. If you’ve paid the current contract for more than ten years, you have a lot of equity in your home. That money could help to get your company off the ground and leave you some money spare. So, now is the time to get in touch with specialists and find the best rates. In most instances, you shouldn’t stay with the provider you use at the moment. You will find better deals elsewhere because competitors will want to steal your custom. That means they’re more likely to undercut each other in the hope of getting you to take out a remortgage with their firm.

Now you know some fantastic ideas for getting funding, we hope you will make the right decisions. When all’s said and done, you just need to keep moving forwards. At least one of the suggestions on this page should get you to get your business off the ground. Work through our ideas from the top of this page until you get the desired results. That is your best strategy in this situation.

Consolidating Debts The Easy Way

When you have large amounts of debt, it can be a worrying and stressful time in your life. There is some useful information available free of charge on the internet to help you deal with these circumstances, such as that which can be found on the lifehacker.com.au website. One way to address mounting debts is to get a consolidation loan; and if this is something that you are considering, here is some information to make the process a simple one.

Address The Problem

The first thing that you will need to do is work out your total monthly expenditure including all of your monthly outgoings.

  • Rent/Mortgage
  • Car
  • Loans
  • Bills
  • Food
  • Travel
  • Entertainment

The main reason that people get into debt is that they spend more than they have coming in, so this is something that needs to be addressed. You will need to work out a manageable budget that you can live with and see how much you can afford to pay off your debts each month. When you consolidate multiple debts into one, you can often save money each month by making only one payment. Many people find that a single payment each month is a lot simpler and means that you are a lot less likely in missing or defaulting on a payment. When you know how much you have to work with, it is then time to start looking for a consolidation loan provider.

Finding A Loan Company

Using the internet, you can find many companies that offer a debt consolidation service. You should also take note that not all of the companies are the same. It is important that you shop around and speak to as many different lenders as possible so that you can find the best deal possible. When you talk to each company, it is important that you understand their terms and conditions, as well as read all of the small print. Look at the online reviews of the companies that you are dealing with and see what their customers are saying about them. Doing this will give you a real insight into how the company deals with their clients, as well as the satisfaction of the customers who have dealt with the company previously.

A Change Of Lifestyle

Ultimately, what is needed to get your head above water is a change of lifestyle. When you have managed to secure your loan, and have put all of your debts into one easy and manageable payment, you will want to make sure that you keep on top of things. Often, people can fall back down the slope and get themselves in even more debt as they carry on spending more than they have coming in. If you tighten your belt for a few months and keep on top of your expenditures, you will be able to get your head above water and keep it there.

Debt is a common problem, and you are not the only one that has to deal with it. Deal with the problem head on, and you will be able to see the light at the end of the tunnel and keep your debt at a level that you can manage.