3 Powerful Practices to Open Up the Flow of Abundance

Ahh, abundance - isn’t that a topic on everyone’s mind!?  Aren’t most of us searching for how to have more abundance or how to feel more abundant in our lives?  I love the concept of abundance because for me, it includes not only the physical manifestation of money or flow, but also the experience and emotions of it.  And both of them are equally important!  

Let’s take for example someone who has a lot of money, but lives in a constant state of fear or stress or angst about it.  How helpful is that?  Similarly, there are many people who understand and know that we live in an abundant universe, but cannot seem to translate that into the physical manifestation of money.  Is that any better?  

Either way, we are in a state of imbalance around abundance and the place I believe we are all striving to get to, is where we feel empowered around abundance.  What exactly does it mean to be empowered around abundance?  It means that we understand the laws of the Universe,  recognize our true power and potential and have tools to create or manifest what we need.  

Does this describe your experience?  It wasn’t mine!  For many years, I very much wanted more abundance but just couldn’t seem to put all the pieces together to make that happen.  And when I did, I was still full of fear!  My experience has transformed significantly over the years and I have a lot of gratitude as abundance has been a great teacher.  And I always say, once you transform one area of your life, you now have a template and foundation to transform any area.  And money is certainly a great place to start!

Today I want to share with you some steps you can take to attract more flow into you life.  But first, let’s talk about what happens for most of us when there appears to be a lack of abundance in our lives.  Whether we experience a shortage of cash, lose a job or have unexpected expenses, the most common, immediate reaction is to move into a state of fear.  When we do, we contract physically, emotionally, mentally and spiritually and then experience the corresponding effects such as high blood pressure, headaches, racing thoughts, and feelings of fear, pressure, panic, etc.

The first practice and one of the most effective contraindications to a state of fear is to acknowledge abundance.  The best way I know how to do this is to spot abundance in all of life:

• notice the million blades of grass or grains of sand,
• connect with person, place or thing that is full of life, energy and abundance,
• notice and give gratitude for the abundance you have in your life - no matter how big or small.  

Doing so will shift your attention and focus and actually stop the fear pattern from taking hold in your consciousness.  The second powerful practice is to stimulate the natural cycle of abundance by giving.  Notice where you can give of yourself more - perhaps in time or gifts or care or heart.  Keep the flow going and by giving, you are putting yourself in a position to receive.  

Since abundance is a cycle, if you stimulate the giving, there will be an equal and opposite reaction of receiving which is the third practice - open yourself up to receive.  Many of us think we are open to receive but actually find it easier or more comfortable to be the giver.  Opening yourself up to receive could look like:

• asking a friend or co-worker for help,
• saying prayers and petitions,
• letting a stranger hold the door open for you.  

It can be big or small, the energy is still the same.  Notice if the Universe is trying to send you or give you things, but in your fear, you have blocked your receptivity.

My invitation to you is to put these powerful practices in place for two weeks and notice the difference.  Doing these practices regularly will put you in the right mindset, energy and vibration to open up the natural flow of abundance!

Gabrielle Marie Loomis is a Coach, Speaker & Educator who connects women to their true power and potential.  Women who engage in Gabrielle’s programs experience personal and professional empowerment leading to radical transformation in their lives.  Results include feeling like a new woman, glowing confidence and radiating joy!  Gabrielle has mastery level training in coaching, energy psychology and human potential and loves to incorporate her natural intuitive abilities into everything she does.  She offers a variety of transformational programs, products and services which can be found at www.gabriellemarieloomis.com.  

The First Thing To Know When Setting up a Budget

 

 Reposted from www.learnvest.com

The first thing you need to know when you set up a budget is that your goal is to live on your net paycheck, the money that hits your bank account after all your deductions. That means your budget excludes any pre-tax retirement contributions such as those to an employer-sponsored 401(k) or 403(b).
 

You’ll divide that amount into three buckets according to what we call the 50/20/30 rule:

1. No more than 50% goes toward Essential Expenses, which includes just four expenses: housing, transportation, utilities and groceries.
2. At least 20% goes toward Financial Priorities, which are goals that are essential to a strong fiscal foundation. These include retirement contributions, savings contributions and debt payments. You should make these contributions and payments after you pay your Essential Expenses, but before you do any other spending.
3. Lastly, no more than 30% goes toward your Lifestyle Choices, which are personal, voluntary and fun choices about spending discretionary income. They often include cable, internet and phone plans, charitable giving, childcare, entertainment, gym fees, hobbies, pets, personal care,  restaurants and bars, shopping and other miscellaneous expenses.

5 Tips to Live More Frugally

As many of us have to find creative ways to live well on a tight budget frugal is a word that suddenly means a lot. 

The good news is that it’s not all bad news. 

There are some real upsides to living a more frugal lifestyle.  If you spend less, there is less pressure to earn large sums of money, and you may have money left over at the end of the month to pay off debt, save or invest.  Also, not having money for the more expensive things in life gives you the chance to reconnect with the good free stuff that life has to offer : time with family; being outdoors; reading…the list goes on.

So if you find yourself in the position of having fewer dollars coming in each month but still want to live the good life then here are a few tips that can help you spend less and get more for your $s.

Tip 1:  Become a 1 car family or invest in a smaller car

The benefits are clear: less $ on gas; cheaper monthly payments; and the environment will say thank you too.

Tip 2:  Downsize your home

A smaller house means less $ on utilities, cheaper mortgage or rent, and with less space there are fewer temptations to fill your home with ‘stuff you don’t need’.

Tip 3:  Consider buying used first

The popularity of thrift stores is on the rise – there are real treasures to be found in amongst all the bargains.  And consider asking family and friends if they have the item you are looking for to borrow or maybe they no longer need it – much cheaper than rushing out to buy a new one!

Tip 4:  Eat out less

This can be a hard one, especially when it is wired into our habitual behavior.  It is estimated the average American spends more than $2000 a year on eating out – so there is a lot of money to be saved through eating at home more, taking a packed lunch to work, and saving eating out for special occasions.

Tip 5: Only shop for what you need

It happens to us all, we are feeling down and think a shopping trip will cheer us up.  Unfortunately it is these times that we come home from the store with impulse buys that we will never wear.  So only visit the mall and your local stores when you have a reason to be there, to buy something you need.  Make your purchase and get out!

Cash Reserves - Build It Up

As a general rule of thumb, your cash reserves — the amount you put aside in case of an emergency or a job loss — should equal six months of your living expenses. Having adequate cash reserves will not only give you greater financial stability if something goes wrong, it will also give you added peace of mind.

If you don’t have enough discretionary income to build up your cash reserves, you may have other opportunities to free up extra dollars. Here are a few ideas to consider:

·         Refinance your mortgage. With mortgage rates remaining at historically low levels, now may be a good time for you to refinance your home loan. If you qualify and can lock in at a lower interest rate, you can use the savings to build up your cash reserves. To determine if refinancing makes sense for your financial situation, use an online calculator or consult a reputable mortgage professional.

·         Set aside your raise or bonus. The next time you receive a salary increase or a bonus, don’t spend it. Save it. Put the additional dollars from your paycheck into a money market account until you’ve reached your savings goal. Afterward, consider investing those dollars in the market to help you save for retirement or other future goals.

·         Take the bus or carpool. If you typically make the daily commute alone in your own vehicle, price out the public transportation options in your area. Typically, public transportation is significantly less expensive than driving, fueling and maintaining your own vehicle. Or consider starting a carpool so that you can share expenses.

·         Review your federal income-tax withholding. Make sure that your federal withholding is appropriate for your income and family size. Having too much money withheld from every paycheck means that Uncle Sam gets to use your money throughout the year instead of you.

·         Shop around for lower insurance rates. The next time your auto and home insurance policies are up for renewal, shop around for better rates. The savings could be substantial, giving you another way to increase your cash reserves.

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Renée A. Hanson, CFP®, CEP®, CDFA™, CFS, is a private wealth advisor with Hanson, Ayala & Associates, a private wealth advisory practice of Ameriprise Financial Services, Inc. Her passion is in helping women achieve their dreams and financial goals, regardless of life’s many obstacles. Renée is licensed/registered to do business with U.S. residents only in the states of AZ, CA, CO, GA, IA, IL, MI, MN, MT, NH, NJ, NM, NY, OH, PA, SC, TX, VA, WA, WI. Please visit: www.reneehanson.com to learn more.

Brokerage, investment and financial advisory services are made available through Ameriprise Financial Services, Inc. Member FINRA and SIPC. Some products and services may not be available in all jurisdictions or to all clients.

© 2011 Ameriprise Financial, Inc. All rights reserved.

10 Top Credit Mistakes to Avoid

A fantastic top tip post from www.learnvest.com!

Want to save thousands of dollars on all your biggest purchases?

Then there’s only one thing you need to do: maintain good credit.

Your credit is used to determine what rates you’ll pay for big life purchases such as auto loans and mortgages. It will also influence your credit card limits and interest rates. It could even affect whether or not you get a job, as some employers do check your credit report when making hiring decisions.
For all these reasons and more, you want to keep your credit as stellar as possible. Read on to find out the top credit mistakes you must avoid.

1. Don’t miss a bill payment.

Making late bill payments, or not making them at all, can reflect negatively on your credit. In some cases, there’s a grace period, during which you won’t be penalized. In others, you may get a derogatory mark on your credit report for being 30, 60 or 90 days late. This will negatively affect your percentage of on-time payments, a significant factor of your credit score. If your payment is severely delayed, your debt may be sent to a collections agent, which will be indicated on your credit report.

What to do: Use the Money Center or set up mobile or calendar alerts to keep track of your bills and other debts owed, including credit cards, student, auto and mortgage loan payments, cable bills, medical bills, and any other regular debt obligations you have. If you aren’t prepared to make your payment, contact your creditor to find out your options. You might be able to negotiate a longer grace period for your payment. Also, some credit card companies will remove a late payment if you just ask. Write a goodwill adjustment letter, using this example at Bargaineering. 

2. Don’t max out your credit cards.

An important factor of your credit score is your credit utilization rate, or how much of your available credit you’re using at a given moment. When you apply for credit, creditors consider 30% or less a healthy utilization rate; you’re using enough credit to prove you’re responsible, but not so much that you’re relying too heavily on it.

What to do: First of all, make sure you know your limits, on each card, that is. Then, calculate 30% of your total limits. For instance, if you have two credit cards, one with a credit limit of $2,000 and the other with a limit of $1,000, your total limits would be $3,000, and 30 percent of that is $1,000. To maintain an optimal credit utilization rate, you should never charge more than $1,000 total on your cards.

3. Don’t take out cash advances.

Did you know that you can take cash out of the ATM using your credit card? This so-called cash advance is a quick cash loan from your credit card issuer. While convenient, it’s also expensive. You’ll usually pay a fee per cash advance plus an interest rate higher than your credit card’s purchase interest rate by 1 to 7 percentage points. The other problem is that it can hurt your credit, depending on how much you take out. If the outstanding balance on your credit card is already high, taking a cash advance could push your credit utilization rate into territory that is bad for your credit score.

What to do: Try at all costs to avoid taking out a cash advance. Do the math to see how much you’d really be spending just to get a little extra cash to tide you over. Take a look at your credit card’s cash advance interest rate (and how much higher it is than your purchase interest rate) as well as any fees you might pay. Also consider how you can make money on the side rather than take out a short-term loan.

4. Don’t chase rates.

If you have debt, you may be tempted to open a new account with a 0% interest rate (or at least one lower than your current rate) and transfer the balance. The idea here is that you can take that time to pay off the debt without incurring extra interest (or less interest than you would have otherwise). The problem with this can be that you’ll be opening a new account, which is a “hard” inquiry on your credit report, and too many of those can lower your score. Plus, you’ll also get hit with a balance transfer fee, which is usually 3% to 5% of your transfer amount. And, if you don’t pay off the transferred balance during the introductory period, many cards require that you pay the interest rate on the entire transferred amount.

What to do: In some instances, a balance transfer could be right for you. But making repeated transfers is not a long-term solution to paying off your debt. Instead, if you have debt, create a serious plan for erasing it once and for all.