The Ant Philosophy

Over the years I've been teaching kids about a simple but powerful concept—the ant philosophy.

I think everybody should study ants … They have an amazing four-part philosophy.

Here is the first part: ants never quit. That's a good philosophy. If they're headed somewhere and you try to stop them, they'll look for another way. They'll climb over, they'll climb under, they'll climb around. They keep looking for another way. What a neat philosophy, to never quit looking for a way to get where you're supposed to go.

Second, ants think winter all summer. That's an important perspective. You can't be so naive as to think summer will last forever. So ants gather their winter food in the middle of summer.

An ancient story says, “Don't build your house on the sand in the summer.” Why do we need that advice? - Because it is important to think ahead. In the summer, you've got to think storm. You've got to think rocks as you enjoy the sand and sun.

The third part of the ant philosophy is that ants think summer all winter. That is so important. During the winter, ants remind themselves, “This won't last long; we'll soon be out of here.” And the first warm day, the ants are out. If it turns cold again, they'll dive back down, but then they come out the first warm day. They can't wait to get out.

And here's the last part of the ant philosophy. How much will an ant gather during the summer to prepare for the winter? All he possibly can. What an incredible philosophy, the “all–you–possibly–can” philosophy.

Wow, what a great philosophy to have—the ant philosophy. Never give up, look ahead, stay positive and do all you can.

To check out a great slide show on what we can learn from ants – click here

Source:  Jim Rohn  - http://go.success.com/newsletter_archive/YA/2013/07/JR/JR-NL-20130722.html

4 Ways Single Parents Can Look Out for Family Finances

Looking out for the financial well-being of your family can be tough, and it’s an even harder task to take on if you’re going at it by yourself. When money is tight, it’s easy to spend in the moment and difficult to plan long-term, and for many single parents, creating a stable financial environment for their family seems like an unattainable feat.  If you’re stuck in this mindset but want to improve your monetary state of being, here are a few steps you can take to relieve some stress and create a brighter outlook for you and your family.

Insure to Be Sure

No one is quite sure what tomorrow will bring, and while it’s great to have an optimistic demeanour, it’s important to be sure your family could handle a worst case scenario. If your family is living off of your income, it’s vital to take the measures to be certain that if something unfortunate were to happen to you, your family could recuperate financially.

As much of a dent that another monthly payment might make in your budget, insurance really is worth investing for when looking out for your family’s future, and while there are many types of insurance on the market, income protection and life insurance are two of the most practical options for a single parent to consider. Income protection insurance is there to help keep your source of cash flow coming in if you were to suffer from a serious illness or accident that prevented you from being able to work, and life insurance helps provide your family with some monetary security if you were to pass away.

Address the Important Issues First

It’s easy to want to spend the weekend taking your kids out on the town or enjoying a road trip to the beach, but make sure you have the important considerations worked out first. As the sole source of income to a household, you have to shoulder the responsibility of planning for the future, so make a list of the monthly expenses that cannot be put off of or pushed back to a later date.

Rent, groceries, and bills are the easy choices to put on that list, but make a note of other things that are just as important to save for even if you won’t necessarily be paying them off right away; for example, retirement and education funding are easy to neglect because you don’t see the pay-off from the start, but it’s still important to start a savings pool for those items as soon as you can. To help keep you on track, establish a minimum amount that will go into your savings account every month, and treat that payment just as serious as you would any other bills.

Start a Finance Journal

To really help you stretch your dollar further, it helps to get an accurate representation of where all your funding is actually going, and starting a finance journal is the easiest and simplest way to do this. By logging every purchase you make, you’ll be able to see where each dollar of your income has gone, and analysing your spending habits will make it much easier to see where you can cut back and improve. It’s usually the little things that add up the most, and if you’re spending five dollars on a coffee every morning, you’ll see how much you can save simply by brewing your own at home; the point is to figure out where you’re doing well with your finances along with what areas you can benefit from changing.

Look Realistically at Your Current Job Situation

When you’ve been employed with a company for a long period of time, it’s easy to accept that your current job is where you’re at, but it’ s important to never stop shooting for something better. Whether it’s occasionally sending your resume off to other employers or asking your current boss about raises, promotions, or benefits, it’s necessary for the well-being of your family to keep pursuing more lucrative opportunities. Even if you’re earning enough to make ends meet, be realistic when considering what your time and skills are really worth, and if you feel that you could be earning more, step out of your comfort zone and strive for a more stable opportunity.

It can be easy to feel a lot of pressure when you’re looking out for your family by yourself, but it’s a rewarding feeling getting your finances on the right track. It takes some careful planning, budgeting, and analysing, and while it’s normal to feel scattered and stressed from time to time, try to keep in mind that you’re doing it all for your family’s sake; if your actions can help your family have a better life both today and tomorrow, the initial frustration and anxiety is always worth the payout. 

Thanks to Arlene Chandler - a freelance writer who enjoys helping people overcome their financial obstacles. She currently writes about finance advice and insurance for Suncorp.

This post is not meant to endorse, promote, or recommend any specific financial service or company.

Improve Your Personal Finances By Asking Yourself These 3 Questions

 Quick Way to Improve Your Family's Financial Situation

A huge mistake that I see repeated constantly among new investors is the desire to setup a portfolio without any meaningful rationale behind the action besides a generic, "I thought I should do something to begin preparing for retirement," or "I'm an adult now, so I should have a retirement plan because that is what you are supposed to do."

While this attitude is certainly better than the alternative of not caring about your family's income statement and balance sheet at all, it is not an optimal way to go about your mission of making money.

1. What Are You Trying to Achieve with Your Investment Portfolio?

The best place to start is often identifying your objectives:

•          Why are you saving money?
•          Why are you interested in making money from your investments?
•          Put another way, what, specifically, are you trying to accomplish?

It is shocking how many investors never actually sit down and ask themselves that question. Instead, they hurl their cash at a random index fund or throw it in savings bonds, hoping that it amounts to something by the time they dip into their piggy bank.

Don't just say, "I want to move somewhere warm in the future." Be specific! Say something like, "Within 4 years and 2 months, I want to move to a home in the Miami area at least 2,500 square feet, paid for in cash so there is no mortgage."

These are important considerations because money is nothing more, and nothing less, than a tool. By itself it has no intrinsic value. The sole purpose of it is to be there when you want to convert it into goods and services from society. It requires planning.

2. How Much Money Do You Need to Achieve Your Objectives?

Once you've figured out what it is you want your money to accomplish, you need to figure out how much it would take to do it comfortably. I'm a fan of using the monthly after-tax cash income model.

Under this technique, you figure out exactly how much liquid, cold, hard, cash you need sitting in the cheque account every month, after paying all expenses and taxes, to live the way you want to live.  Ambiguous platitudes such as, "I want to be comfortable" are next to useless. You need specifics because it is only when you have a clear benchmark that you can determine if you are succeeding or failing.

The figure at which you arrive is going to be different from everyone else. Some people can be as happy as a lark on $3,000 a month. Still others require $15,000 a month. For others, it would take $100,000 a month. That is because each of us has a unique psychological profile, passions, hobbies, and comfort level at which we thrive. For some folks, driving a brand new Lexus or BMW seems like a complete waste of resources. Another individual might feel as if it is one of the greatest joys in life; an experience that makes driving to the office or dropping the kids off at school far more enjoyable. There is no right or wrong answer here, but you do need to be completely honest with yourself.

3. What Is Your Strategy for Making Money?

It is amazing to those of us who work in finance and have enjoyed success how few people actually try to make money in any meaningful amount. Most people are so brainwashed by the post-Industrial Revolution socioeconomic structure that they think the only way to make a living is to sell their time for a pay cheque.

Yet, almost all of the truly successful in society did no such thing. I've said it before but it is worth repeating:

•          Ray Kroc sold hamburgers through his McDonald's chain.
•          Bill Gates sold software through Microsoft.
•          Walt Disney sold Mickey Mouse cartoons and theme park tickets through his entertainment companies.
•          James Cash Penney sold everything from men's dress shirts to toaster ovens through his retailer, J.C. Penney.

You can sell your time and do well, especially if you are a member of the upper management at a large corporation or a not-for-profit such as a regional hospital chain. It is not, however, the only way you can do it.

How are you going to make your money? When you buy an investment, you are really just acquiring an asset that is selling something for you other than your time. If you own shares of Colgate-Palmolive, the dividend cheques that get deposited into your brokerage account came from the sale of dish soap and toothpaste.

What is your strategy? Are you going to focus on oil and natural gas assets? Are you going to buy up businesses such as retail shops or hotels in your home town? Find a way to focus on your strengths so you can minimize your risk. Stick with it, let compounding work its magic, and you might just find, like so many before you, than "money begets money", to paraphrase the self-made genius, Benjamin Franklin.

Source  :  http://beginnersinvest.about.com/od/planningforthefuture/a/Improve-Your-Personal-Finances-By-Asking-Yourself-These-3-Questions.htm?nl=1

First 5 Steps to Achieving Great Things

Greatness doesn't just happen. The best leaders take steps to ensure that when they do something, they do it better than anyone else.

You're good. You wouldn't be where you are if you weren't. But you know you're capable of better than good. You're capable of achieving truly great things.

Problem is, days go by, then weeks, months--maybe even years--and you're still cranking out good. You've yet to design that unbelievable product, write that great novel, dominate that market. Everyone admires you, but you've a growing sense of disappointment in yourself.

How do you change that dynamic? How to you move from delivering good, to delivering Holy Cow!every time? Try these five steps:

1.       Prioritize.

First things first. If you want to achieve something great, best decide what it's going to be.

This may seem like a flash of the blindingly obvious, but I've noticed an interesting and consistent positive correlation between those who know what they want to achieve and those who achieve great things. As my mother used to say, "If you aim at nuthin', you'll hit it.".

Can you jot down on a notepad the two or three great things you want to achieve? No? Then start there.

2.       Plan ruthlessly; execute relentlessly.

The highly successful leaders I work with distinguish themselves from the merely competent by one thing: They have a plan, they work the plan, but they aren't trapped by the plan.

While this sounds like a simple mantra, merely competent leaders stumble in its execution--specifically, they either design a plan, but don't work it; or they work the plan, but shudder to a halt when they reach a barrier or uncover a problem.

The answer? Once you start implementing, don't stop until you've finished. Adapt on the fly, improvise as best as you can, but unless something truly horrendous will happen otherwise, keep going.

Here's a small example of what I mean: I deliver a lot of online webinars. Some of them are "canned" (recorded in advance) and some of them are live. I've noticed that with the canned webinars, I'll often start and restart many times, unhappy with my choice of words or the tone I've struck. With the live webinars, once I've started, I've no option but to keep going. And guess which webinars almost always turn out to be more vibrant, and better received? The live ones.

3.       Get out of your inbox.

Leaders in thrall to their inbox, once only apparent when you visited someone at their office, now, you can see it everywhere: peck, peck, peck; on airplanes, at lunch, during rest room breaks. Any where, any time there is a minute to spare.

Here's the thing: if you're in thrall to your inbox, you're working to other people's agenda, not your own (a view I was intrigued to see shared by one surprising individual).

It may be over-promoted and it's often over-complicated, but the ability to achieve Inbox Zero (or something close to it) isn't optional for great leaders. If you're serious about achieving great things, you need the time and space to do it, and if you're using every break available to scroll through your inbox (or your social media stream), then I have news for you--you ain't doing great things.

4.       Get out of your office.

You truly want to achieve great things? Get the heck out of your office.

Not just because it removes you from all the interruptions and distractions that being in your own environment makes you subject to, but because it takes you out of the comfort zone of maintenance activities.

Your office desk, chair and computer monitor is where you do the 80 percent of merely good work, day in, day out. Find a retreat space, a unique corner somewhere, where you can specifically go to work on your major achievements. It may be a conference room down the hall, it may be the local coffee shop, it may be a broom cupboard--doesn't matter--just find a space that isn't the place where you do 'normal stuff'.

5.       Review, revise, adapt, push on.

It's day two. You've made a start on your great project. What to do today? Try this formula I arrived at in achieving one of my own big goals: Review what you did yesterday; revise anything that looks a little off; adapt your overall plan as necessary, and most importantly, push on.

Source  :  http://www.inc.com/les-mckeown/5-steps-to-achieving-great-things.html?cid=em01017week25a&nav=su

The Personal Finance Quiz That 86% Of Americans Failed

Turns out that people are just about as likely to overestimate their financial savviness as they are their good looks. 

A new survey by the FINRA Investor Education Foundation found that 75% of U.S. adults say they're pros at managing their finances, but only 14% could ace a five-question quiz on basic financial concepts.

This was no small study sample size either. A whopping 25,000 consumers took the quiz.

Think you can do a better job? Take the FINRA quiz below, then click http://www.usfinancialcapability.org/quiz.php to see explanations for the answers.

Take the FINRA Financial Literacy Quiz

Question 1

Suppose you have $100 in a savings account earning 2 percent interest a year. After five years, how much would you have?

More than $102

Exactly $102

Less than $102

Question 2

Imagine that the interest rate on your savings account is 1 percent a year and inflation is 2 percent a year. After one year, would the money in the account buy more than it does today, exactly the same or less than today?

More

Less

Same

Question 3

If interest rates rise, what will typically happen to bond prices? Rise, fall, stay the same, or is there no relationship?

Rise

Fall

Stay the same

There's no relationship to bond price and interest rates.

Question 4

True or false: A 15-year mortgage typically requires higher monthly payments than a 30-year mortgage but the total interest over the life of the loan will be less.

True

False

Question 5

True or false: Buying a single company's stock usually provides a safer return than a stock mutual fund.

True

False

Go to http://www.usfinancialcapability.org/quiz.php to do the quiz online and get an explanation of the answers.

If you were one of the 86% who struggled with this financial literacy test, visit us at moneyforlife.com.au.

The 4 Smartest Things You Can Do Every Morning

These down-to-earth tips will help get you going in the morning, and keep you productive all day.

Does this sound like you? You roll out of bed exhausted every morning. Your brain was going like gangbusters all night, keeping you awake with thoughts and plans about your business.

Now you’re ready to execute—if you could just find the shirt you were planning to wear to that important client meeting. Where’s the address again? Uh-oh, your phone isn’t charged, so you go on the computer to look up the location.

Next thing you know, you’re sucked into emails. You look up, still in your bathrobe, and an hour has passed. Where did the morning go? Now you’re going to be late—and your phone still isn’t charged.

Four simple morning habits can change you from a harried slob in a bathrobe to a paragon of productivity.

1. Check your to-do list. You do have one, right? Okay, this habit really starts the night before, when you make a to-do list before going to bed. “Dumping” your to-do’s onto paper (or digital calendar) helps you clear your mind so you’ll sleep better (no worries about forgetting stuff).

Before you dive into your day, take a moment to glance at your schedule. If you’re like many people, your to-do list might have a dozen or more items on it.

Figure out which are the must-do’s.

These are typically things that involve other people (like travel, meetings or sales calls) or deliverables with firm deadlines (a big order has to ship today; a project is due). Unless you see a lot of down time, resist the urge to pack your to-do list with “just a few more things.” It’s important to leave some buffer time to deal with all the emergencies that inevitably come up when you’re running a small business.

2. Do something for yourself. Whether it’s exercising, meditating or even just taking a really long, energizing shower, some type of activity that feeds you and centres you is a smart way to start the day.

Any of these activities can help you get in touch with your subconscious—it’s amazing how solutions to problems that seemed insurmountable when you’re sitting at your desk can suddenly present themselves when you’re not thinking about them. (One of my business partners swears she gets most of her best ideas while running.)

I know—maybe you barely have time to take a quick shower, much less take a long one, work out or meditate in the morning. All I’ll say is this: Everyone I know who makes time to do it says it pays off.

Another colleague of mine skipped his morning workout for a week, trying to give himself an extra half an hour a day to work on a big project. He ended up wasting more than half an hour a day because he hit the 3:00 slump every afternoon and was no use to anyone.

3. Have a routine. I’ve observed a lot of people who are quite organised, and they have one thing in common: a routine. Hey, it’s morning, your coffee hasn’t kicked in yet, you’re not thinking totally clearly and you need to get things done without really thinking about them.

Having a routine helps you auto-pilot yourself through the basic tasks of the morning (what to eat, what to wear) before you really dig into the tough stuff.

President Obama famously told Vanity Fair he only wears blue or gray suits. Why? It saves time and energy—instead of making decisions about what to wear and what tie goes with what, he saves his brainpower for important decisions. Routinizing your morning can help you be more productive, too.

4. Start with something big … or small. There are two schools of thought about getting started on your to-do list in the morning. One approach says start with the biggest, most important must-do of the day. The other advises you to start with a few quick tasks you can quickly check off your list to gain a feeling of accomplishment.

Personally, I like to mix it up depending on how I feel that morning. No matter how I’m feeling, I start my day with my email (ignoring the “rules” of time management). If I feel gung-ho and ready to go, then I tackle something big, putting aside distractions (phone calls, Twitter) for at least an hour while I work on it.

If I’m feeling slack and need a nudge, I move on to some easy to-do’s—maybe updating my calendar, proofreading an article or sending a follow-up email to a client. That gives me the push I need to keep moving on to bigger things.

However as a general rule, I try to do my least enjoyable tasks first, because then I get to reward myself with the enjoyable tasks and no longer have those unenjoyable tasks ahead of me.

Glass of Milk

One day, a poor boy who was selling goods from door to door to pay his way through school, found he had only one thin dime left, and he was hungry.

He decided he would ask for a meal at the next house. However, he lost his nerve when a lovely young woman opened the door.

Instead of a meal he asked for a drink of water! ..... She thought he looked hungry so brought him a large glass of milk.
He drank it so slowly, and then asked, How much do I owe you?"

You don't owe me anything," she replied. "Mother has taught us never to accept payment for a kindness."

He said ......... "Then I thank you from my heart."

As Howard Kelly left that house, he not only felt stronger physically, but his faith in God and man was strong also. He had been ready to give up and quit.

Many year's later that same young woman became critically ill. The local doctors were baffled. They finally sent her to the big city, where they called in specialists to study her rare disease.

Dr. Howard Kelly was called in for the consultation. When he heard the name of the town she came from, a strange light filled his eyes.

Immediately he rose and went down the hall of the hospital to her room.

Dressed in his doctor's gown he went in to see her. He recognized her at once.

He went back to the consultation room determined to do his best to save her life.. From that day he gave special attention to her case.

After a long struggle, the battle was won.

Dr. Kelly requested the business office to pass the final bill to him for approval. He looked at it, then wrote something on the edge, and the bill was sent to her room.. She feared to open it, for she was sure it would take the rest of her life to pay for it all. Finally she looked, and something caught her attention on the side of the bill. She read these words ......

"Paid in full with one glass of milk"

(Signed) Dr. Howard Kelly.

Tears of joy flooded her eyes as her happy heart prayed: "Thank You, God, that Your love has spread broad through human hearts and hands."

There's a saying which goes something like this:

Bread cast on the water comes back to you. The good deed you do today may benefit you or someone you love at the least expected time. If you never see the deed again at least you will have made the world a better place - And, after all, isn't that what life is all about? 

Why do I always have expenses that don’t fit into my budget?

Budgeting has negative connotations, but it can do wonders for your overall financial picture and it takes very little effort to create and maintain a budget. Think of a budget as simply a tool for organizing cash flows. You are, in essence, a CEO on a smaller scale who is taking steps to ensure your company's (or family's) cash flow is monitored each month. In this article, we'll cover five of the most commonly asked questions with regards to budgeting, and show you how it really is possible to save money, pay off debt and still enjoy life.

One reason why some people stop using a budget is because there are many expenses that don't seem to have a place in their budget. This is partly to be expected, and is easy to fix. Any good budget will have a "miscellaneous" category for all disparate expenses that come up in a given month or year. A target budget for miscellaneous expenses can be made by simply looking over purchases made over a few months time and calculating a simple average. What came up that had to be fixed, bought or borrowed? Would you be able to include those surprises in any of your other categories? If not, then add these miscellaneous costs to your budget to cover for the rest of the year.

The point is to decide which costs are fixed (not negotiable and must be paid each month) versus variable (which fluctuate depending on the month or your mood). Your rent, for example is fixed. Your gym membership, however fixed the rate is, can still be cut if you choose to quit, and is therefore variable. Once you figure out if the cost is fixed or variable, you've won half the battle to budgeting.

Sometimes the answer is a simple as re-evaluating your original budget for any missing categories or places where you might have underestimated how much should be budgeted. Gifts and travel should have their place in your budget, and entertainment expenses should include eating out and small impulse buys like magazines and snacks. Otherwise you'll always find yourself with expenses that don't have a home in your budget, and this could discourage you from sticking with the process. Over time you'll find that your budget more closely reflects your spending patterns, so long as you are honest with yourself about where the money goes.

Are you and your partner financially compatible?

When we meet a new partner, we chat with our friends about physical, emotional and spiritual compatibility.  But have you ever thought about financial compatibility? To some this may sound a little crass and I am sure to everyone else not very romantic.

No longer is it the responsibility of one spouse to look after the finances of a couple, instead the responsibility is shared by both partners. Therefore, as a couple becomes more serious, issues of financial compatibility will creep in to the relationship.

Understanding your partner’s financial personality is crucial if you want to make a future together.

Financial Compatibility Quiz

As your relationship develops, you and your partner should complete this quiz adapted from Suze Orman’s Book “The Courage to Be Rich”.

Circle the statement that best describes your partner in each of these five categories:

A: Invites you to dinner, chooses the restaurant and then complains about the prices on the menu.
B: Expresses material longings for things such as vacations, jewelry, etc. far beyond his or her budget.
C: Constantly buys and sell stocks for the thrill of it, rather than as carefully considered economic moves.
D: Seems to regard his/her parents or others as a source of income.
E: Is saving the maximum allowed by law in retirement accounts and monitors all these investments to make sure they are performing to the best of their ability.

A: Complains about child support obligations.
B: Tries to impress your friends by bragging about money.
C: Prefers to take vacations in places where there is gambling.
D: Has a messy wallet, or a wallet full of maxed-out credit cards but absolutely no cash.
E: Never buys an item to impress others and never brags about money.

A: Talks about using his/her business expense account for personal items.
B: Cannot pay off credit card bills at the end of every month.
C: Cannot get up and walk away from a gambling table, even if losing badly.
D: Spends money on a new pair of expensive shoes, even though other bills are overdue.
E: Loves to talk about finances and is open to teaching you.

A: Seems uncomfortable using the pronoun “we”.
B: Can never go into a store without buying an item whether he/she needs it or not.
C: Is constantly baffled where the paycheck went.
D: Receives calls from bill collectors.
E: Is charitable and generous and does not define him/herself by how much is in the bank account.

A: Would never put loose change into a donation box after making a purchase.
B: Gives you unusually expensive gifts that you know he/she can’t afford.
C: Is constantly placing bets, be it on a backgammon game or an office pool.
D: Avoids talking about money and acts like everything is just fine when you suspect it isn’t.
E: Pays all the bills on time and rarely carries a balance on credit cards.

Now for the score: count how many of each letter you have circled and record the number below.

A____
B____
C____
D____
E____

The letter with the largest number reveals your partner’s primary money traits:

A = Penny pincher
B = Spendthrift
C = Gambler
D = Financial wreck
E = Financial catch

What to do now?

Financial problems are one of the top reasons for divorce; so you want to start the conversation about money with your partner early. If you are not on the same page, you need to find some common ground that will allow you to create a stable financial future together. This will involve ironing out your financial differences but take the advice of Suze Ormond: “Be patient. If you are financial opposites you are not going to resolve your differences in one conversation.”

Ten Things Better Than Money

Money does buy happiness, but happiness also creates wealth.

A recent Gallup poll, quoted in an American newspaper, found that "well-being rises with income at all levels of income, across countries."

In other words, as the article's title states, the poll proves that "Yes, Money Does Buy Happiness."

Except that it doesn't prove that at all.

What the study actually discovered was a "strong correlation" between each nation's real Gross Domestic Product per capita and the sense of "well-being" among the citizens from those nations.

Correlation isn't causation. The data could just as easily be interpreted the other way around … that happiness creates wealth.

What's most likely, though, is that happiness and wealth are part of a cycle, each one creating more of the other.

Assuming you want to create both wealth and happiness for yourself and those around you, you have two approaches … wait until you're wealthy to be happy, or become more happy now and thereby create more wealth.

I maintain that, in today's economy, it's easier to start with the happiness, because unlike wealth (which takes time to accumulate), you can increase the amount of happiness in your life within minutes, simply by taking more notice of things that make you happy.

With that in mind, here are ten things that can make you happy immediately, regardless of where you are in the cycle.

1. Life

It's easy to forget that the mere fact of conscious existence--that you are alive--is itself a miracle. As the old saying goes "every day above ground is a good day."

2. Health

Rather than thinking of illness as something bad that happens to you, start thinking of health as something good that's happening to you.

3. Purpose

There is nothing more conducive to long-term happiness than knowing that your actions are making the world a better place.

4. Friendship

Almost everyone has friends, although it's easy to lose track of them in the rush of events. Take a few minutes today  to reconnect with some of them.

5. Family

If you've got a good relationship with your family, rejoice! You're experiencing one of the deepest sources of happiness on the planet.

6. Self-reliance

Feeling secure that you can count on yourself to accomplish what you set out to accomplish creates a quiet but potent happiness.

7. Community

Having the support of a wider group makes you more aware that you're part of something greater than yourself.

8. Gratitude

Rather than focusing on what you don't have or what's out of reach, be thankful for the wonderful things already in your life.

9. Laughter

It is impossible to laugh and be miserable at the same time. Regular doses of laughter are more than medicine... it's the flavour of life.

10. Love

'Nuff said.

Create these ten things in your life and I guarantee that you'll either become more wealthy or, if not, you won't really care anyway because you'll already have what's important.

Source  :  http://www.inc.com/geoffrey-james/10-things-better-than-money.html

Some helpful tips for borrowers

Sometimes people get in over their heads.

They rack up so much debt that they're unable to make consistent interest and principal payments.

When you're late or unable to make payments, your credit rating suffers. This reduces creditworthiness, and ultimately, it inhibits your ability to access financing.

The good news is that there are things consumers with less than stellar credit can do to improve their standing among lenders and to rebuild their credit score.

In this article, we will look at techniques you can use to improve your stats.

Credit Score? What's That?

A credit score is the key to understanding how creditworthiness is evaluated by lending institutions, as a good credit score can unlock the vault to help obtain financing.

Your payment history, loans outstanding and a general indebtedness are statistically evaluated by the credit bureaus.

Based upon a compilation of that data, your profile is assigned a number between 300 and 850, with 300 being the least credit worthy and 850 being the most credit worthy.

It is this number that lending institutions use as a basis for determining whether you qualify for a mortgage or a quick escort out the lobby doors.

So, now that you understand how the score works, let's look at four tips that will help you raise a bad score and win favour with those stern-faced bankers.

Tip No.1 - Pay More Than the Minimum

If possible, always make payments over and above the minimum interest payment that is due. Credit agencies not only look at the amount of debt an individual has outstanding, but also the length of time it takes to pay off the debt.

Unfortunately, there's no calculation that can be used to measure exactly how much this will boost your score. There are a myriad of factors that go into computing a credit score, but accelerating payments and satisfying debts on a timely basis is recommended as a means of repairing credit by lending institutions and well-known credit counselling agencies.

Tip No.2 - Work Out a Plan

Most people don't realise that if they are behind on their debt payments and are going through some trying times, their lenders will often consider negotiating a revised payment plan or possibly forgiving a portion of the debt.

For lenders, negotiating is cheaper than either hiring a collection agency or risking that the individual might have their debts cleared in a bankruptcy proceeding.

If you need a reprieve, approach the lender and ask for more time to make payments. You can also present a revised payment structure. If you can develop a plan that works for you and makes sense for the lender, there is a good chance they will accept it.

If and when a deal is struck to forgive a portion of your debt, be sure that the major credit bureaus are aware of it and that they make the appropriate notations on your credit report. Less debt and timely payments equal a higher credit score.

You can check to see if the appropriate notations have been made by accessing your credit report, which will document your borrowing and any material changes made to these reports.

Tip No.3 - Switch from Credit to Debit Cards

Credit card debt is no friend to your credit score. One of the best ways to avoid credit card debt is to pay the debt right away, through the use of a debit card.

Debit is different from credit. With a debit card, you deposit money into an account and then use the card to charge against the money. There is no credit bill to rack up, and you can only spend what you actually have.

It is important to note that credit reports don't typically factor debit card payments into the credit score equation. But by disciplining yourself and using a debit card to settle debts on the spot, (rather than racking up huge credit card balances) you will, by extension, have a better credit score.

Tip No.4 - Cut Up Those Store Cards

Many people are just one more card away from witnessing the tragic death of their wallets. The leather strains and stretches to hold in all that easy credit.

It's hard not to have an overstuffed wallet when every retailer you visit now has an in-house credit card they'd be ever-so-happy to sign you up for. While these cards often give bonus points, free merchandise or favourable rates, the bad news is that the more open accounts you have, the lower your credit score will be.

From a credit agency's perspective, the logic behind this is that you could theoretically tap all of these credit sources to the max at one time and rack up a huge amount of debt. In other words, credit agencies and lenders are worried about your potential for taking on high interest debt, as well as the likelihood that you probably maintain small balances on each of those cards.

If they don't have an outstanding balance the easiest solution is to simply call and cancel the cards.

If you have balances on numerous cards right now, one excellent solution is consolidating your debt.

A personal loan at 12% is still better than the 20%+ rates some cards charge. However, if consolidation doesn't sound attractive, consider paying off the debt that has the highest interest rate first, and close out your accounts one by one as you pay them down.

The goal should be to reduce your card count to one or two credit cards. It will make reviewing monthly statements and paying your bills much easier.

It will provide discipline as your overall credit limit will be lower, and finally it will keep your wallet from exploding in your pocket, which can be very messy.

Bottom Line

A low credit score is not the end of your financial world.

Discipline and responsibility can help rebuild even the lowliest of scores. Paying more than the minimum, reducing the number of cards in your wallet, negotiating a payment plan can all help boost your score and improve your odds of success the next time you need a loan.

Source: http://www.investopedia.com/articles/pf/07/credit-rebuilding.asp