Thursday, November 12, 2009

Budgeting and Investing

“Save your money because you won’t always make this kind and then you can have a nest egg for the future. Also take courses and classes. If you have the money, make investments in real estate, art, gold or antiques. I did, then I resold them at a higher price when I needed cash later.”


To figure out your budget, add up all your expenses for each month: rent, hydro, utilities, phone, internet, cable, cell phone(s), groceries, toiletries, car insurance, gas, debt payments, etc.

Now add in the things you’d like to spend money on: entertainment, clothes, furniture, RRSP’s, savings, etc. Add the two amounts together to reach your goal. This amount is how much you’d like to earn each month.

If your goal is too big for now, look at ways to cut down on your expenses. Can you move to a smaller place? Can you work and live with one phone? Do you watch that much TV?

Take the amount you’d like to earn each month and divide that by how much you charge for calls. That will tell you how many calls / shows you need to do each month to reach your goal. Break that down into days per week.

Be sure to schedule days off and extra days for unforeseen episodes of burnout or last-minute opportunities for fun. Don’t sacrifice fun for money. You’ll make way more money if you’re happy and well adjusted, than if you’re struggling through each day due to burnout.

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