Housing a small rainy day fund should be an essential part of the financial goals of an individual.This is of great importance if it has no available funds in your account to cover unexpected expenses.To guarantee financial security, because they give the money to turn if you fall ill or if you or your spouse lost your job, you incur large medical expenses, or have a big unexpected bill, like a car or repairing morehousing.I do not find myself in a situation where you need to buy daily needs for credit and late payments of alimony that he bought two years ago in credit, with interest a 10-18% increasein it.

Save your money on a small account for emergencies is probably the best alternative to taking a loan or take advantage of their long-term investments.If you take out a loan, there is the additional burden of interest payments.Collection of your investments before maturity means that not only lose interest, but also part of the initial investment.This will also return significantly in their overall financial plan.

The success in building an emergency fund depends on the consistency of saving money regularly and resist the temptation to dip into this fund for rainy days are not emergencies.This money should be separate savings account in general.Otherwise, you’ll be tempted to dip into those funds, even if you only have to run their budget at any given time.An important part of this statement of emergency funds must be invested in funds with low risk.This ensures that your investment will not lose its value if they need money.It must be highly liquid to give you access to money quickly and easily if necessary.

The size of the special savings account will depend on your personal situation.People often keep the wages of three to six months in reserve.But we must agree on an appropriate amount depending on factors such as their dependents and fixed monthly expenses.

If you are single with no obligations, and have a reliable system of support from friends or relatives during a financial crisis, it might need a lot hidden in this fund.This is opposed to someone who needs to pay costs of care for their elderly parents and supporting a young family.Most people support, more than likely other unforeseen or unexpected expenses.

While deciding on an emergency fund, you must also take into account the degree of difficulty that would find new jobs if it loses today.In the case of a two-income families, the contribution of both parties must be weighed to calculate how much you should keep aside.

It may not be able to pool their money in emergency funds and at a time.They treat it as a financial goal and add to the pool in time.If you receive a tax refund, put it in the special account in its rainy day.Perhaps part of the premium to work!

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What can you do to gain control over their money, eliminate financial stress and increase financial peace that will enhance any area of your life? Start with things that most people do not even consider the money …

First, ask yourself if there is something you can start doing now that you know will make your life easier financial future. That may be starting to save money, but only a few dollars a week.That may be starting to pay a little more in the beginning of your car loan or mortgage. Maybe he is just starting to say “no” to at least one impulse purchase of a week.

No matter what the first step in eliminating debt may be, if you’re like most people who are not yet using all the knowledge you already have in managing your finances and get out of debt.

This is the reason that someone does something that “knows” that their behavior must be conditioned not tell them. Of course, it makes no logical sense … that’s the point. Conditioned behavior is not rationally driven, is emotionally driven.

Your emotions are the driving force behind their behavior, rational thought is normally used to defend or support their emotional conditioning.

Just thinking habit of saving. Why people develop this habit and food until it becomes second nature? Of course, the rationalization might be, “not enough to lose, because I am only for what it is!” Or “I’ll start saving once I _______.”

However, all these are rooted in fear, which can be overcome by recognizing that he is afraid of his power: the uncertainty. The best way to eliminate this uncertainty is beginning to take control of the advance planning and managing its cash. While this money can not make more or less immediate bills, give you a far greater security, while eliminating most afraid.

Think how much easier it is to deal with something bad if you are sure it will happen? It is much easier because it is in a position where they are forced to act and cope.

Do this: take a twenty dollar bill and give it to someone you trust to keep it real for you. Make sure you do not ask …. no matter how bad things get. Imagine that you have not and what to do without it. This will ensure that you are cons and be surprised to see how you become more resourceful. As you build your savings and increase slowly, gain more confidence, safer and more dynamic. Faced with these three, fear has no chance.

Then start monitoring everything that happens and everything you do. Even if the picture is ugly, writing things down will give you a greater sense of security. This only runs most of the anxiety and worries. Now, instead of playing the “I will have sufficient income over expenditure,” the band again and again, you can park those thoughts and focus on a plan of action.

These two steps alone will start to change their habits in packaging and managing money. Does not happen overnight, but the habits of the money, then bad again, never made the night. Start now to improve their financial knowledge, while you still thinking about it and you’ve taken the first step on the path to financial peace.

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Much like our views about many things — people, relationships, food, and health to name a few — our beliefs came from our parents, our teachers, and other adults in our lives. And it goes back even further, beyond them, back to the circumstances through which they lived, or what they learned from their parents, what their parents learned from their parents, and so on. These beliefs are ingrained, and because theyre usually subconscious, the cycles are continuous — until someone breaks them. You can break the cycle. Beliefs about money are many and varied, but in my research, Ive discovered that there are a few that predominate.

Money is scarce. Several of us have parents or grandparents who lived through the Great Depression, an era that rooted an entire generation in a scarcity mindset. These people passed onto their children the idea that money was in short supply and that when it did surface, spending had to be limited and saving was imperative. If any of the following ever crossed your mindA penny saved is a penny earned, Dont dip into savings, or We cant afford it — then you have this perspective and rainy days loom ominously. Money doesnt grow on trees. These threats create a fearful relationship with money.

Money is evil, dirty, or bad. Several of us have parents or grandparents who believe that the road to bad places is lined with green. Theyve only ever seen the drawbacks of the rat race, the downside of the money chase, and the audacity and indulgence of those with too much money. Some even believe that wealthy people are bad people. Novels and films often highlight the idea that its the crooked ones who make the money. The meek shall inherit the earth. Such prophecies create a hands-off relationship with money.

Money comes monthly. The most common way to make a living is to be employed, either with a company or as a skilled professional, with a weekly wage or an annual salary. Historically, this provided the safe, sure thing required by heads of households. Yet, that level of risk was usually balanced with an equal level of reward — low and low. For most, even those who do very well, working for a company or as a skilled professional is a constrained opportunity. Except for the outrageous exceptions, the average CEO of the average company making six figures a year will still experience only a small increase in salary during his or her lifetime. Slow and steady wins the race. Such fables create a cautious relationship to money.

Money is not for me. Some people feel that they dont deserve to be wealthy or that there is only so much of the millionaire pie to go around. Creating wealth and financial freedom is available to everyone. It is our right to be wealthy, and my hope is that people take their space and know they deserve it. By making money, you are not taking it from someone else; this isnt Bonnie and Clyde Go to the Bank. By making money, you create a greater capacity to contribute, and its your duty to do this. Better them than me. Such adages create a defeated relationship to money.

Money is a man thing. There was a time that men made and managed the household money. That time was not so long ago, and some of you may have grown up with such conditioning. Though there are gender tendencies, for example, men tend to carry more money in their pocket than women and are more likely to invest than women, the reasons behind this are not genetic; they are realities falsely fabricated from years of conditioning. Women and men need to understand that money knows no gender. One of my programs that really resonates with up and coming wealth builders is Wealth Diva: A Man Is Not a Plan. This is a must-do seminar for every man and woman, and the daughters and sons they love. Let him bring home the bacon. Such perceptions create an apathetic relationship to money.

Money is good medicine. For some people, retail therapy goes a long way; theres no difficulty a new blouse cant cure. At the moment, we live in a culture of consumerism, and many of us use money to fill the unsatisfying holes in our lives. Some people grew up with a sense of entitlement about money, assuming their parents or a trust fund would always pay for everything, and in the process, they became careless about what they had. This is a vicious and unproductive cycle. The new car gets old, the closet fills up with clothes, and the toys pile up in the playroom. This is notto say there arent wonderful things to buy and spend our money on; after all, money should be fun. But as with overeating, too much spending on the wrong things can get any of us feeling sluggish and sad. Shop till you drop. Such bombarding messages create a disrespectful or nonchalant relationship to money.

Money is always a menace. For too many of us, money was always a problem. Bills were a hassle, keeping up with the Joneses was exhausting, entrepreneurs were considered nuts, and ones station in life was, well, stationary. And getting rich would be worse. Money can be such a burden, not to mention all that paperwork and responsibility. These views of money create a perspective that money is actually a problem, not a solution. Its hard enough just to survive, let alone thrive. Such pessimism creates a negative relationship to money.

Money talk is taboo. Many of us have been brought up to believe that conversations about money are in bad taste. Money and financial success, and failures, are considered personal subjects that shouldnt be discussed and certainly shouldnt be taught. Few of us asked our parents how much money they made, and even now, there are people who dont know their spouses salaries. The results have unintended consequences and have created a world where very few people are having real conversations about money and finances, the very conversations they need to learn and succeed. These things are not discussed in polite society, dear. Such a scolding creates an ignorant relationship to money.

In each of these examples, its clear that unless your parents made a conscious choice to think and act differently, they conditioned you to have the same mindset as them. If you make a decision to break this cycle, you will have the opportunity to teach your children to have more productive beliefs about, and a more profitable relationship to,money. As you come to understand the beliefs you hold, you will work to change them. Through the action steps in this process, and with the help of mentors and respected friends, you will change your behavior. By sharing your desire for new beliefs and asking your mentors and respected friends to help you spot the subconscious limitations you may be putting on yourself, you will teach your brain to follow your behavior. Begin now by restating your beliefs. For example, if youve discovered that you hold any of the above examples as beliefs, you will

1. Change money is scarce to money is abundant and support a courageous relationship to money.

2. Change money is evil, dirty, or bad to money is good and acceptable and create a hands-on relationship to money.

3. Change money comes monthly to money comes from a range of sources and create an opportunistic relationship to money.

4. Change money is not for me to who better than me for money to come to and create an empowered relationship to money.

5. Change money is a man thing to I can and will know about and understand money, and create a thoughtful relationship to money.

6. Change money is good medicine to money is a tool to help make my life better and create a respectful and concerned relationship to money.

7. Change money is a menace to money is a solution and create a positive relationship to money.

8. Change money talk is taboo to money talk is vital and create a knowledgeable relationship to money.

You can see how much better it is to be courageous, hands-on, opportunistic, empowered, thoughtful, respectful and concerned, positive, and knowledgeable than to be fearful, hands-off, cautious, defeated, apathetic, disrespectful and nonchalant, negative, and ignorant. The choice is yours and it looks like youre well on your way. Youve already taken a huge step by deciding to actually take the first step. By making the decision to start right now, you have created the opportunity to raise your financial consciousness and change your life.

Copyright 2006 Loral Langmeier from the book The Millionaire Maker McGraw-Hill; December 2005;$24.95US/$00.00CAN; 0071466150

Loral Langemeier is a master coach, financial strategist, and team-made multimillionaire who reaches thousands of individuals each year. She is the founder of Live Out Loud, a coaching and seminar company that teaches her trademarked program Wealth Cycles.

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Credit card companies have revenue of $76.03 billion dollars and the majority of this revenue comes from late penalties and over limit and cash advance fees. $29.2 billion came from late penalties, $15.2 billion from over credit limit fees and $3.04 billion from cash advance fees. This amount is 62% of the credit card companies revenue and this does not include finance charges. Nice profit!

The above is the reason why credit card companies can afford to mail over 5 billion credit card offers per year. This equals to 6 offers per household per month. Maybe the $2 billion in postage alone is a reason why our government does not look into the credit card industry seriously.

Every bank and retailer wants you to have their credit card. Having their credit card enables them to make huge profits. In 2001 both Sears and Circuit City reported that over half of their corporate profits were from finance related revenue. Do you think this could be the reason why retailers always have an employee at the front door of their store offering you to sign up for their credit card and in return you receive a special gift or extra so called discount? Most special gifts and extra discounts end up costing you more than the original purchase due to finance charges.

I may not be able to confront these institutions that are trying to make a fool of me, but I can fight back by believing that Cash is King and using cash instead of credit will save me money in the end.

Its a New Year and personal money management should be on the top of your list for 2006.

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