2011 was a crazy year for me. We were jobless and broke for most of it but it was also the year I published a book through Wright Books, spoke at the Financial Blogger Conference and a whole lot of other things. It was so fantastic and scary in so many ways. Having such a wide variety of things happening in 1 year from opportunities to devastation makes it hard to really categorise 2011.
So what did I learn in 2011?
1.) Opportunities can come from anywhere
I was so blessed in 2011 to sign a contract for my book 365 Ways To Make Money, speak at Financial Blogger Conference about going from blog to book, get booked to speak at Digital Parents 2012, launch my freelance writing career and more. All of these opportunities came from my blog, which is not at all what I expected when I started blogging. Not just that, but the opportunities that came as a result of those different things astound me. I just had to put myself out there and the rewards have been amazing.
2.) You can achieve great things
This year, despite many problems on the job front and issues with our house has ben a year of great achievements for me. I always wanted to publish book and become an international speaker. This year, I put myself out there more and did it. So many people say they can't do things, but that's just not true.
3.) Job loss is hard, but not the end of the world
This year my husband got told there was no more work. We both searched hard for other forms of employment, but only casual was available, which we took, but it was scarce and hard. We relied a lot on government benefits, help from friends and family and our ingenuity to get through. It was hard and we were so grateful when my husband finally landed a full time job again. As hard as it was, it was not the end of the world.
4.) There are free things all around
Having virtually no income meant we got really good at finding free things. That meant everything from food to entertainment. I know we could have done better than we did, but considering our circumstances we did really well.
5.) Owning a house is not that great
We bought back in 2006 and while on many levels the stability of owning (well, with a mortgage) vs renting have been good, it really ties you to one area and with repairs and things houses can cost A LOT! I am sure if we lived where I wanted to instead of where I don't want to live I would like my house more.
6.) Plans change, you just have to adapt
We started the year with big plans such as going to Tasmania and Hawaii, but none of that eventuated since our income changes drastically. While I did have opportunities throughout the year, much of these things will not provide any income until 2012.
7.) If you want something, you are the key to making it happen
I wanted a lot of things this year and while I did not get them all, had I not put myself out there, applied for things or made it known what I wanted to do, they would not have happened. If you want something don't be afraid to go for it and let others know you want it too.
8.) If you focus on being broke, you will probably stay broke
As broke as we were much of this year (and I mean we almost lost our house and everything type of broke) we focused on ways we could make money, how this was a temporary situation and looked at everything we could do to improve it instead of wallowing in the "woe is me, we're broke" attitude.
9.) Balance is important
With so much of our lives seemingly out of our control, we had to find balance where possible. Such as a balance between frugality and looking to increase our income, cutting back on groceries but still eating as healthy as possible etc. If you go too much one way or the other in anything in your life, other areas of your life will suffer.
10.) Never take health for granted
We had a couple of hiccups this year with health. fortunately not as bad as many others we know. We know quite a few people diagnosed with cancer and things recently which has made us appreciate our health and the things we can do because we are healthy even more.
11.) Life is what you make it
Life might throw you curveballs but it is up to you how you deal with them and what you make out of what you are given. It is up to you to rise above things, create opportunities for yourself and live the life you want. No one else is going to do it for you.
What did you learn this year?
Wednesday, December 28, 2011
Thursday, December 22, 2011
New year resolutions
I am not going for new year resolutions anymore. I feel many see a resolution as something they want to do but since almost no one actually does what they set out to do, it is not such a big deal if you break your new year resolutions.
Instead I am setting goals. I am doing step by step plans for exactly what I want to achieve next year. I know where I want my finances to head and what I need to do to achieve that. I know I want a family holiday, I want my house renovations finished, I want to improve my health by eating organically, growing more of our own produce and increasing my exercise again.
Last year I was not so successful with my goals. I did lose weight, increase streams of income and so forth but we had a fairly rough year and I know I did not do anywhere near as much as I set out to.
We have already started doing things to help us achieve our goals next year.
We want to redo our mortgage so we have compared mortgage providers, spoken to a few and are getting our house valued to enable us to get a better deal on a mortgage. This should all be completed within the first few weeks of January.
We are also going to complete some renovations. We have so many things that need completing but never seem to get around to it. We have set definite times to complete projects and have listed specifically what we want to complete.
Without setting specific time and timeframes goals do not get achieved.
What is it you want to achieve this year? Are you going to set a definite goal, with a time frame to achieve it?
Instead I am setting goals. I am doing step by step plans for exactly what I want to achieve next year. I know where I want my finances to head and what I need to do to achieve that. I know I want a family holiday, I want my house renovations finished, I want to improve my health by eating organically, growing more of our own produce and increasing my exercise again.
Last year I was not so successful with my goals. I did lose weight, increase streams of income and so forth but we had a fairly rough year and I know I did not do anywhere near as much as I set out to.
We have already started doing things to help us achieve our goals next year.
We want to redo our mortgage so we have compared mortgage providers, spoken to a few and are getting our house valued to enable us to get a better deal on a mortgage. This should all be completed within the first few weeks of January.
We are also going to complete some renovations. We have so many things that need completing but never seem to get around to it. We have set definite times to complete projects and have listed specifically what we want to complete.
Without setting specific time and timeframes goals do not get achieved.
What is it you want to achieve this year? Are you going to set a definite goal, with a time frame to achieve it?
Tuesday, December 20, 2011
How to manage your business cash flow - Guest post
A million dollars might seem like a lot of money, but when you’re running a business, a million dollars can be completely meaningless if you don’t have it on hand. Any business owner will tell you that when it comes to gauging the health of their business, cash flow is king.'
Keeping a firm handle on your cash flow can be a struggle for any small business owner as there are many factors that must work together seamlessly. Your need to keep track of your accounts receivable and accounts payable as well ensure that you’ve earmarked funds for tax, superannuation and other overheads.
Meanwhile, you also have to factor in a number of unknowns, for example equipment can break down suddenly and require repairs or you’ll have invest in recruitment if a key staff member decides to depart suddenly.
With so many things to consider, how can you ensure that your cash stays flowing? Here are some tips:
- Collect receivables – for many small businesses, the focus is on making the sale. However, in the long run, the sale means little if the payment isn’t made in a timely manner. Ensure you have a process to collect on overdue invoices. It can be as simple as ensuring you send regular statements and reminders or employing the services of a collection agent.
- Negotiate payment terms – the simple formula to a healthy cash flow is to collect receivables as quickly as you can and then to hold off payments for as long as you can without incurring late fees or penalty charges. It’ll be worthwhile to negotiate extended payment terms with your suppliers. For example, signing up for asset finance with a monthly payment plan can help you manage your cash flow for the long term.
- Offer discounts on early payments – try to limit the amount of credit you’ll give your clients by tightening up payment terms. You can also incentivise clients to pay early by offering discounts.
- Stay on top of your financials – keep an eye on your cash balance and ensure you have a realistic forecast for the future. Pay attention to ongoing market conditions and changes to your client base. Do you know your cash balance today? Do you know what it’s likely to be in 6 months’ time? Always know the answers to these questions to get a handle on your cash flow.
No matter how big or small your business, cash flow is king. By keeping an eye on your cash, you’ll be securing the financial health of your business for the long term.
Author Bio: Paige writes about technology and finance in Sydney on behalf of a commercial finance provider.
Keeping a firm handle on your cash flow can be a struggle for any small business owner as there are many factors that must work together seamlessly. Your need to keep track of your accounts receivable and accounts payable as well ensure that you’ve earmarked funds for tax, superannuation and other overheads.
Meanwhile, you also have to factor in a number of unknowns, for example equipment can break down suddenly and require repairs or you’ll have invest in recruitment if a key staff member decides to depart suddenly.
With so many things to consider, how can you ensure that your cash stays flowing? Here are some tips:
- Collect receivables – for many small businesses, the focus is on making the sale. However, in the long run, the sale means little if the payment isn’t made in a timely manner. Ensure you have a process to collect on overdue invoices. It can be as simple as ensuring you send regular statements and reminders or employing the services of a collection agent.
- Negotiate payment terms – the simple formula to a healthy cash flow is to collect receivables as quickly as you can and then to hold off payments for as long as you can without incurring late fees or penalty charges. It’ll be worthwhile to negotiate extended payment terms with your suppliers. For example, signing up for asset finance with a monthly payment plan can help you manage your cash flow for the long term.
- Offer discounts on early payments – try to limit the amount of credit you’ll give your clients by tightening up payment terms. You can also incentivise clients to pay early by offering discounts.
- Stay on top of your financials – keep an eye on your cash balance and ensure you have a realistic forecast for the future. Pay attention to ongoing market conditions and changes to your client base. Do you know your cash balance today? Do you know what it’s likely to be in 6 months’ time? Always know the answers to these questions to get a handle on your cash flow.
No matter how big or small your business, cash flow is king. By keeping an eye on your cash, you’ll be securing the financial health of your business for the long term.
Author Bio: Paige writes about technology and finance in Sydney on behalf of a commercial finance provider.
Friday, December 16, 2011
2012 Goals
I have been thinking a lot about my goals for next year. I have many ideas as to what I want to do, but need to discuss it further with my husband. I know our number one goal next year is to get rid of our personal loan. It would have been gone this year had it not been for the work issues we faced.
It's ok though because in the last month we have managed to knock $1,500 off it which was a great feeling and we know we will have it gone within the first few months of the year.
I will also continue with my goal to be a millionaire by 30, but this is where I am torn a little. You see, my husband has an increasing desire to go to Tonga, which I completely understand. We have always discussed going there at some point, but he feels stronger and stronger he wants to go sooner rather than later.
He is 1/2 Tongan 1/2 Maori, and we have been to New Zealand. He was raised mainly by his Maori mum and feels he knows more about that part of his culture than his Tongan side.
A trip to Tonga would not be cheap. Mainly because if we go, it won't just be for a week, it will most likely be for a few months. We would need to be able to cover our mortgage and things here as well as be away for that long.
Part of me feels like that money would be better put off our mortgage, but the other part knows how important this is to my husband and he is so accommodating with everything I want to do and supportive of my choices that I would hate to say no.
So what I am thinking is to work out how much we would need for Tonga, then aim to get double that amount so we pay for Tonga and our mortgage without affecting my millionaire goal as well.
It is a pretty big aim, but I feel confident.
So those are my main goals.
1.) Pay off the personal loan
2.) Save for Tonga
3.) Pay the equivalent of the Tonga trip off our mortgage as well
4.) Continue with my millionaire challenge
What are your aims or goals for this year?
It's ok though because in the last month we have managed to knock $1,500 off it which was a great feeling and we know we will have it gone within the first few months of the year.
I will also continue with my goal to be a millionaire by 30, but this is where I am torn a little. You see, my husband has an increasing desire to go to Tonga, which I completely understand. We have always discussed going there at some point, but he feels stronger and stronger he wants to go sooner rather than later.
He is 1/2 Tongan 1/2 Maori, and we have been to New Zealand. He was raised mainly by his Maori mum and feels he knows more about that part of his culture than his Tongan side.
A trip to Tonga would not be cheap. Mainly because if we go, it won't just be for a week, it will most likely be for a few months. We would need to be able to cover our mortgage and things here as well as be away for that long.
Part of me feels like that money would be better put off our mortgage, but the other part knows how important this is to my husband and he is so accommodating with everything I want to do and supportive of my choices that I would hate to say no.
So what I am thinking is to work out how much we would need for Tonga, then aim to get double that amount so we pay for Tonga and our mortgage without affecting my millionaire goal as well.
It is a pretty big aim, but I feel confident.
So those are my main goals.
1.) Pay off the personal loan
2.) Save for Tonga
3.) Pay the equivalent of the Tonga trip off our mortgage as well
4.) Continue with my millionaire challenge
What are your aims or goals for this year?
Wednesday, December 14, 2011
Achieving dreams and goals
I am very goal orientated. I like to have a goal, a plan and achieve it. I set them high, so even if I don't always reach my goal I am continually stretching myself and close to high is better than just aiming low.
I have been thinking a lot about what I want to achieve over the next few years, things that are on my bucket list, sorting out our finances so we are financially free and more. Some of these things have changed slightly since I set them, but things are happening.
I have planned to complete at least one thing from my bucket list every year. At least one, but preferably quite a few more. Some of my plans are not really doable until my kids are older, but many of them can be done now.
I really want to make 2012 my year. I want to achieve things on my bucket list. I want to pay off our debt and clear it completely. I want my business to have developed and be in a position where most of the income is passive and my husband doesn't have to work.
I know I can do this. I know I am capable of great things and I know you are too.
I look at how my life has changed since starting this blog a little over 2 years ago and I am amazed.
I am now an author.
I am a freelance writer.
I make money from my blogs and other projects online, from home.
I climbed the Sydney Harbour Bridge.
I spoke at an international conference and am about to speak at another blogging conference.
I have gotten through a period of being a single mum, another period of my husband basically being unemployed, nearly losing our house and more. I have come out on the other side and am back on my feet.
Have you ever sat down and listed your recent achievements? Or even any achievements just to see what you have done. You will probably find there are things you have done others only dream of doing.
You have one life and it is happening now! Do what you can, change what you need to and live the life you want.
I have been thinking a lot about what I want to achieve over the next few years, things that are on my bucket list, sorting out our finances so we are financially free and more. Some of these things have changed slightly since I set them, but things are happening.
I have planned to complete at least one thing from my bucket list every year. At least one, but preferably quite a few more. Some of my plans are not really doable until my kids are older, but many of them can be done now.
I really want to make 2012 my year. I want to achieve things on my bucket list. I want to pay off our debt and clear it completely. I want my business to have developed and be in a position where most of the income is passive and my husband doesn't have to work.
I know I can do this. I know I am capable of great things and I know you are too.
I look at how my life has changed since starting this blog a little over 2 years ago and I am amazed.
I am now an author.
I am a freelance writer.
I make money from my blogs and other projects online, from home.
I climbed the Sydney Harbour Bridge.
I spoke at an international conference and am about to speak at another blogging conference.
I have gotten through a period of being a single mum, another period of my husband basically being unemployed, nearly losing our house and more. I have come out on the other side and am back on my feet.
Have you ever sat down and listed your recent achievements? Or even any achievements just to see what you have done. You will probably find there are things you have done others only dream of doing.
You have one life and it is happening now! Do what you can, change what you need to and live the life you want.
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