Wealthy Diva

5 Ways to Find Extra Money Right in Your Wallet

5 Ways to Find Extra Money Right in Your Wallet

Believe it or not Diva’s you have extra money right in your wallet right now. No need to consider that second job or ask your boss for overtime. Why take time away from your family or yourself?

Find money by minimizing your expenses and doing the following:

1. Contact your auto insurance company. Tell your insurer you would like to reduce your monthly payment. If they do not offer you a better rate start getting insurance quotes from other insurance providers. You are not in any legal contract. You are free to take your business elsewhere.

2. Take a look at your cell phone bill. How many of those minutes are you actually using? Do you really need all of those minutes? Do you text more than you talk? Contact your cell phone company and request a lower plan.

3. Get rid of that high interest rate on your credit cards. Most credit card companies are willing to reduce your interest rate if your account is in good standing. Contact your creditor and request a lower rate. A lower rate will reduce your minimum payment significantly.

4. Your electric company may offer a budget plan. The budget billing is a uniform payment amount you pay every month. The advantage is the amount is easy to plan for each month and you can avoid high electric bills. The plan is adjusted annually and your payment is determined based on your overall usage.

5. Determine what cable channels you frequent the most. Do you really have the time to watch all of those channels? Contact your provider and request a smaller package. Be specific about the channels you watch the most to make sure you continue to have those channels.

Wealthy Diva Frugal Tip

Wealthy Diva Frugal Tip

Save money and trade your Starbucks latte for Maxwell House International Vanilla Caramel latte that can be purchased at your local grocery store for around three dollars a container. Maxwell sells multiple flavors and you only need to add hot water or milk. Try adding Coffee House creamer Vanilla Caramel Cream for approximately two dollars and if it makes you feel any better top it off with whip cream for about two more bucks. For a total of seven bucks you have a delicious latte for your five day work week. Compared to the five dollars a day you would spend at your local Starbucks. You've saved approximately eighteen dollars.

Try it and let me know how you like it.

Quantity vs. Quality

Quantity vs. Quality

They say the cheap will never be rich. Buying quality clothing, shoes, or furniture is better for your wallet. Besides, who wants the hassle of the pea coat with the loose buttons, the handbag with the unraveling straps and the sofa with the worn out cushions. Experts say it’s okay to spend a couple thousands on a new sofa. You can expect to have it for at least another decade. Those that buy cheap will waste money in the long run having to replacing those inexpensive items. You may have a large quantity of useless items but having quality useful items you will keep a nice bank account.

Here are a few tips to buying quality not quantity:

1. Shop at discount stores or outlets

2. Shop online and subscribe to your favorite store email list, some offers
include daily specials and free shipping

3. Shop off season when items have been marked down

4. Purchase items that will go along way such as a black skirt, black pants,
black sweater and a nice pair of black pumps

5. Take advantage of coupons given to you by stores you frequent the most
Some stores give cash coupons to use at a later date

You may pay more for that pea coat or handbag but you will have it for years to come.

Income You Can Count On

Income You Can Count On

In today’s economy every cents count. But the truth is income is money that legally comes into you possession and can be counted on in the near future. Every Diva should have a budget. In order to budget you must be able to determine your income. Income can be from your paycheck, alimony, child support, or self-employment from a small business. You can count on all of these resources as income in the near future. Never overestimate your income or underestimate your expenses. You should know exactly how much income you have monthly to pay your financial obligations such as debts and living expenses. Assess your financial situation so that no matter how much you are spending there are no unexpected surprises.

If you find yourself going over your budget every month you are spending more than you make. The secret to financial security is spending less than you earn, saving for big-ticket items such as those red bottom pumps and keeping money in your bank for emergencies. At least six months of your monthly take home is a good rule of thumb. By all means do not swipe that high interest credit card for those to die for high heels. By the time you finish paying for them you could've had two more pair to add to your collection. It all comes down to one thing living within your means. Stay true to yourself and your financial goals and you will see the rewards.