Monday, September 12, 2011

Think Like an Entrepreneur

My biggest problem in becoming self-employed was me.

In order to BE a self-employed person I had to start thinking like one. I found myself reverting to that nine-to-five mentality. If I wasn't accomplishing a task every hour, then I must not really be working.

Sometimes a self-employed person has to make decisions about her business. Sometimes she is just thinking about a solution to a problem. Sometimes she just has to quiet her mind so new ideas can come. Just because you're not pounding away at the typewriter every minute doesn't mean you're not working.

I've also learned that it's okay NOT to answer the phone every time it rings. That's what voicemail is for, and the same goes for email. At my nine-to-five job I would leave the email program open all day and answer each one as it arrived. It took me a while to realize it's okay to only check email several times a day instead of constantly being interrupted. It's actually more productive than having to stop your thought process every time "you have mail." At my other job, I was able to let a phone call roll over into voice mail, but it took me a while to be able to shut down the email too.

You're going to have days where you feel you didn't accomplish much. Then again, you'll have days where you'll feel you can conquer the world and you'll be amazed at how much you got done. Some days you may not finish many tasks, but you'll make a decision on a problem that needed to be addressed. Or, you will have learned a valuable lesson about yourself.




And, I had to learn to stop breaking down all my tasks into dollars and cents. I tended to worry about how much I was or was not earning every day. The truth is, some days you're going to make more than other days. If I spent my day on marketing issues, even though I didn't earn any money from it that day, I would benefit from it some time in the future.

Rather than worry about what benefits I do or don't have, I realized the benefit I have in my business is that I answer only to me. Everything I do will benefit me sooner or later. Instead of my income being dependent on somebody else's budget, I can go as far as I dream.

And because I'm now doing what I truly love and not what someone else tells me to, I'm much happier and more content. I learned if you start THINKING like an entrepreneur, then you'll actually be one.

Wake Up From Your Credit Card Debt Nightmare

Are your credit card debts giving you nightmares? If yes read on and see if we can save you some money and help you sleep better at night. It is so easy to get yourself into debt, as all these credit card companies seem to be throwing these cards at us.

Learn to understand your statement if you're paying more than 15% of your monthly salary to your credit card bill then now is the time to take some action. If you pay the minimum payment and the interest charge takes up a lot of your monthly payment, not much is actually coming of the balance. For example say you pay £100 a month now take a look at your statement and see how much actually goes on interest.

Avoid minimum payments…

The minimum payments are a nightmare they are costing you a fortune and will take years to pay of the debt. Credit card companies used to take 5% as a minimum payment of the total money owed, but now ask as little as 2% as people where finding it hard to pay back the 5%. This has in turn created a debt problem for many people.

Here are some ways to help you reduce your credit card debts! Try to stop using your credit card and if you cannot, monitor what you spend. Balance transfers are a good way to save you money, lookout for the ones that offer 0% interest free periods for 6-9 months; this will give you a bit of breathing space. Make sure you check the APR rate once the 0% interest free period is over and cut up the previous card, as you do not want to be tempted again and end up in more debt.

There is nothing that says once the 0% interest free period is over that you must stick with this card, if you watch what you're doing you could then change to another card that has the same offer on. Just be careful and make sure you have your dates correct, as you do not want to be getting charged for any late payments.

Once you feel that you have got yourself on an even keel the next step is to try and clear up your debt completely. The way we do this is to start with the credit card that has the highest APR rate, pay the most to this credit card and just pay the minimum payment to the rest of your cards, once this card is finished then go the next highest APR card and so on until all your credit cards are paid off.

Credit cards are a great thing and we all need them, but they must be on our terms and we must be able to pay them off, if possible at the end of every month. If we cannot, this is when the problems start as minimum payments only get you into more debt and will take years to pay off.

Remember…

1) Try to stop using your credit card
2) 0% balance transfers can help you pay off your debt
3) Pay off the debt with the highest APR first

Once you have got the debt under control and at an amount that you feel is manageable, the next step is to try and curb the spending and clear the debt completely and get back on an even keel, then you can enjoy the spending freedom that a credit card brings you, but under your terms.