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If you don’t have the money…

If you don’t have the money…

you don’t buy it!

Written by R. A. Stewart

Borrowing money to buy things is spending money you have not earned yet and there is a price to pay for that and it is called interest.

The worst type of borrowing is consumer debt. This is stuff you have bought with borrowed money. Consumer debt is purchasing things such as household appliances, motor vehicles, and the likes. Going on holiday with borrowed money is consumer debt. It is also irresponsible.  

As adults we must discipline ourselves to put off purchasing items which are pleasing to the eye but will leave us in debt if we break the budget in order to acquire whatever that may be. 

I can say that I have never owned a credit card in my life. Who needs one?

If someone cannot make ends meet on their income without a credit card then they need to take a stocktake because the interest payable on credit will compound over a period of time. All that interest which has to be paid on top of the borrowed money is money which could have been put to better use.

What seems to be at the heart of a lot of people’s financial problems is their lifestyle. I mean if you are going to get involved in a relationship then you had better make sure your income level is sufficient enough to pay for it all and the same applies to having kids and it is no good blaming politicians for this child poverty stuff if your own choices got you in a financial mess.

So you are in a spot of bother, now what?

There are three options.

1 Increase your income; easier said than done if you have other commitments but no one knows your personal circumstances better than you so there may be a way to work around this.

2 Decrease your spending; it is time to find ways to cut back by reducing your wants and minimising the amount you spend on your needs. 

3 Sell stuff that you no longer need. There are auction sites where you can sell your stuff. Make use of these.

There are some golden rules to follow when deciding whether to borrow for things like appliances and other items which may be consumer debt but are something which you need or will make your life considerably easier.

Ask yourself these questions:

1 Can you borrow the item? 

This all depends on how often you are going to use it. If you need a mountain bike to get to work  every day then you need to actually own one rather than borrow it but if it is a concrete mixer to do a one off job then borrowing is the way to go.

2 Can I purchase the item second hand?

You may not have the money to purchase something brand new but still can afford to buy it at a second hand store. This is a good option and you are still covered by the consumers guarantee act (In New Zealand)

3 Can I wait until I have saved the money for the item?

This option will definitely help you become a better money manager and also help develop the skill of prioritizing your spending.

4 Do I really need the item?

This all depends on your personal circumstances, tastes and preferences. It all boils down to whether you are prepared to sacrifice something now in order to save money.

Always keep in mind that saving something from your pay every week and keeping it in a rainy day account is a good habit to get into because it will enable you to pay cash for things which need fixing. It is also a good habit to invest some of your money for the long term such as in mutual funds. This is in addition to your government’s retirement scheme (Kiwisaver in New Zealand).

It is a bad habit to just spend everything in your pay packet every week so that by next week’s pay day you are broke.

www.robertastewart.com

 

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Join sharesies here: https://sharesies.nz/r/377DFM

 

Note: This article is of the opinion of the writer and may not be applicable to your personal circumstances. I may receive a small commission if you sign up for sharesies.

#share market #borrowing money #needsandwants #savemoney #howtosavemoney #deadmoney

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Prioritizing your spending

The Waiho Bridge near Franz Josef Glacier, New Zealand.

Prioritizing your spending

Written by R. A. Stewart

Life is all about making priorities and it is not all about money and how you prioritize your spending but about what you do with your time. We have different financial commitments and different levels of income but when it comes to time, we all have an allotted 24 hours in the day, no more and no less but our income and how we earn our income will have an effect on how much time we have to devote to the important things in our life.

Many people sacrifice their time for money by spending all of their time working leaving little time for anything else. They are out of balance.

If you have a specific goal in mind such as saving for a house deposit then the sacrifices may be worth it in the long term. Maybe because only you will know whether the long days were truly worth it. It all depends on what your priorities are.

What factors should you consider when setting priorities?

Here are several to consider:

Your commitments

If you have children then you obviously have different priorities than someone without children. It is their future as well as your own which you need to factor into your plans.

Your debt levels

Paying off your debt needs to be your number one priority because unless that debt is paid, you have no discretionary spending money.

Your age

This is an important factor. If you are in your sixties then you are not likely to set goals with a 30 year timeline. The young ones have time on their side and speaking from an investment perspective can use time to increase their wealth.

Your health

Your health is an important factor. If a health issue has cropped up then your number one priority has to be to manage it and make the most of your life.

Your career

Your career will influence your priorities. Some couples delay parenthood, instead, preferring to ensure that they are on a good financial footing before they have kids. This is the sensible thing to do. 

Your pets

Any pets you have will mean that you just cannot forget about them and forget about them. You are responsible for their care and well being.

It is certainly a good idea to think twice before taking on new pets because they could be a hindrance to you as far as finding a new job. 

If you are fortunate or smart enough not to have any commitments whatsoever then you will find it easier to gain employment in a new town or province. Most of the commitments listed are choices you make and the consequences of those choices are commitments.

There is a cost to these choices and it is the wise thing to do to take this into account when making decisions.

About this article: You may use this article as content for your blog/website or ebook. The contents of this article are of the writer’s own opinion and may not be applicable to your own circumstances.

www.robertastewart.com

Below: Lake Mapouriki 2 miles south of Franz Josef GLacier New Zealand

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Dead Money will cost you

What is dead money?

Written by R. A. Stewart

 

What is dead money?

It is money which is spent on something which does not provide anything of value to you.

Interest paid on consumer debt falls into this category. It is dead money because interest does not provide any tangible value to you. Some may argue that interest paid on a mortgage on a property provides some value because the value of the property increases at a greater rate than the interest on the mortgage.

A fair point but falling house prices have meant that some houses have negative equity on them. All the more reason for you to reduce that mortgage as quickly as possible, more so when the mortgage interest rate is low.

Dead money can also be money which is locked away in an investment for very little return. An example of this is money just simply left in a savings account for a period of time. Inflation and the tax payable on the paltry interest means that your money is losing its value over a period of time. The only money which is left in an account such as this is money which is needed in the short term.

Just stuffing your money under the mattress is another form of dead money for the same reason as leaving it in a low interest account and this is because it is not earning any money.

If you think that just leaving money lying around is foolish enough most people own stuff which is worth money and if this was sold the money could be earning an income through shares or other investments. Most people own stuff which can be converted back into cash and put to work for them. Anything which is no longer needed and is just gathering dust fits this category.

It is important to know the difference between an asset and a liability. An asset increases your wealth but a liability is a drain on your finances.

Some investors consider the equity in their home as “dead money”. It all depends on where you are coming from because there is a clear choice between having equity in your home or having a debt. I recall someone told me years ago that he knew someone who took out a mortgage on his home to purchase shares then Black Monday took place. For younger people, the 1987 sharemarket crash which occurred during October of that year was named “Black Monday.”

After the crash his shares were worth a lot less than the loans owing on them. 

At the end of the day that is the risk with investing for capital gain and investors must weigh up the risks of losing their capital against the likely rewards. 

If you have some spare cash lying about doing nothing and you are wondering whether or not you should invest it in something risky but has the potential to grow the one question you should be asking is “What is this money for?”

Only then will you know whether this is money you should be taking risks with.

About this article

This article is the opinion of the writer and may not necessarily be applicable to your personal circumstances therefore caution is advised. You are welcome to use this article as content for your website/blog or ebook. Feel free to share this article.

Www.robertastewart.com

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7 Differences between a good and bad money manager

7 Differences between a good and bad money manager

Written by R. A. Stewart

The only reason why there are different outcomes in life is because people make different choices.  Therefore if you want to change a particular outcome you need to make different choices. The earlier in life that you start to make good choices the better your life will turn out to be.

Here are seven differences between a good money manager and a bad money manager. 

A good money manager will:

  1. Save something from their pay packet while a bad money manager will spend everything so that they have nothing to show from their labours. Saving a portion of what you make will make your life easier in the long term because you will have something to fall back on when some unexpected bill crops up.
  2. Invest their money while a bad money manager just leaves their money in an ordinary savings account waiting for it to be spent. A good money manager develops their financial literacy by participating in the markets while investing. There is a cost to ignorance and this is true with matters of personal finance.

a bad money manager remains financially dumb because they do not improve their financial literacy by participating in the markets.

  1. Read books on money management and personal finance. A good money manager will improve their financial literacy by reading books on personal finance. A bad money manager remains financially dumb because they do not improve their financial literacy by participating in the markets.
  2. Learn from their mistakes. A good money manager will acknowledge their mistakes and learn from them. A bad money manager will not acknowledge their mistakes and will repeat them over and over again.
  3. Have a vision. Good money managers have a plan for the future. A bad money manager looks no further than the next payday. Having a vision means that you are prepared for unexpected expenses when they crop up. Having a separate account for emergencies is an example of this. This is often referred to as a rainy day fund.
  4. Take responsibility for their decisions and do not blame others for their mistakes.

Some people make it a habit to blame others when things don’t go well for them as is often the case in life. They will ask others for advice and when they follow it there will be someone to blame if an investment does poorly.

  1. Make wise choices.

This is not necessarily in relation to what someone does with their money but major life decisions such as the decision to have kids and how many kids to have and what to spend their money on. Rich people use their discretionary money to build their wealth while poor people fritter their money away on consumables. The only way to build your wealth is to spend less than you earn and invest the surplus. This is a simple formula which has made others wealthy. 

About this article: You may use this article as content for your blog or website. Visit my site www.robertastewart.com for other articles.

If you like this article then maybe you will like this ebook

 

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How to Fight High Grocery Prices

How to Fight High Grocery Prices

In recent years, grocery prices have been rising steadily, squeezing household budgets and forcing families to find creative ways to make ends meet. The reasons for these price hikes are varied, from global supply chain disruptions to inflation and changes in consumer demand. Regardless of the cause, there are practical strategies that anyone can use to reduce their grocery bill without sacrificing quality or nutrition. In this article, we’ll explore several effective ways to fight high grocery prices.

1. Create a Budget and Stick to It

The first step to controlling grocery spending is to set a budget. It’s easy to overspend when you don’t have a clear plan for how much you can afford. Start by reviewing your monthly income and expenses to determine a reasonable amount for groceries. Be realistic, but also challenge yourself to spend less than you normally would. Once you’ve established your budget, stick to it as closely as possible. Keeping track of your spending will help you stay accountable and allow you to make adjustments as needed.

2. Meal Planning and Batch Cooking

Meal planning is one of the most powerful tools in fighting high grocery costs. Plan out your meals for the week before heading to the store. Focus on recipes that use similar ingredients, so you can buy in bulk and avoid wasting food. This also prevents impulse purchases and last-minute takeout, both of which can strain your budget.

Batch cooking is another strategy to save money and time. By cooking large quantities of food at once and freezing portions for later, you reduce the need for frequent grocery trips and take advantage of bulk buying. For instance, you can prepare a large pot of chili or soup and freeze individual servings for easy meals during the week.

3. Shop Sales and Use Coupons

Taking advantage of sales and using coupons can make a big difference in your grocery bill. Many stores offer weekly deals, which you can find in their flyers or online. Focus on buying items that are on sale, especially non-perishable or freezable products like canned goods, rice, pasta, and frozen vegetables. Stock up when your favorite products are discounted.

Coupons can also be a great tool if used wisely. Many grocery stores have loyalty programs or apps that offer digital coupons. Clip the ones that are relevant to your needs and combine them with store sales for maximum savings. However, avoid the temptation to buy something just because you have a coupon if it’s not something you actually need.

4. Buy in Bulk – But Smartly

Buying in bulk can lead to significant savings, especially for pantry staples such as rice, flour, pasta, and canned goods. However, be cautious not to overbuy perishable items that might go bad before you have a chance to use them. Bulk purchasing works best for products with long shelf lives or items you use frequently.

Shopping at warehouse stores like Costco or Sam’s Club can be helpful, but it’s essential to calculate the cost per unit to ensure you’re actually saving money. Sometimes, smaller packages at regular grocery stores on sale may be cheaper than the bulk version at a warehouse.

5. Embrace Store Brands

Store or generic brands often offer the same quality as name brands but at a much lower price. In most cases, the difference in taste or quality between generic and brand-name products is minimal, especially for staples like pasta, rice, canned vegetables, and household supplies. By swapping brand-name products for store brands, you can significantly cut your grocery bill without sacrificing quality.

6. Reduce Food Waste

A staggering amount of food is wasted each year, and reducing food waste can have a direct impact on your grocery costs. To avoid throwing out spoiled food, make an effort to use what you already have before buying more. Leftovers can be repurposed into new meals, and nearly expired fruits and vegetables can be used in soups, smoothies, or baked goods.

Organizing your pantry and refrigerator can also help reduce waste. Keep older items in front so you’ll use them first, and label leftovers with dates so you don’t forget about them.

7. Buy Seasonal and Local

Seasonal produce is typically cheaper than out-of-season options because it’s more abundant. Learn what’s in season in your area and build your meals around those items. Additionally, shopping at local farmers’ markets can often result in lower prices for fresh produce, and you’re supporting local growers in the process.

8. Consider Substitutions

If a recipe calls for a pricey ingredient, consider cheaper alternatives. For instance, if a dish requires fresh herbs, you can use dried herbs or even frozen ones, which are less expensive and have a longer shelf life. Similarly, beans can replace meat in certain recipes, providing protein without the high cost.

Conclusion

Fighting high grocery prices requires planning, discipline, and a willingness to make small changes. By setting a budget, planning meals, shopping smart, and reducing waste, you can significantly cut your grocery expenses. These strategies not only help save money but also promote a more sustainable and mindful approach to grocery shopping, allowing you to navigate rising prices with greater ease.

Www.robertastewart.com

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Elder Abuse: what it is

Elder Abuse: what it is

Written by R. A. Stewart

Elder Abuse may be a term you may not have heard of. It is a term that is being used more frequently than in the past so what does it mean?

It is when someone who is of the older generation is being taken advantage of. The abuse may not need to be of a financial nature. As with all kinds of abuse it could come in a number of forms; financial abuse

Not repaying loans

Unauthorised taking of money or other assets

Scams that rely on developing a relationship with the older person with the intention of taking their money and assets. Dating scams is an example of this.

Use of home without contributing to the costs.

Psychological abuse

This comes in many forms and could be threats, intimidation, and hostility.

Control

This can be making decisions on the behalf of the elder person or taking authority over their everyday life.

Isolation

Lack of affection

Ridicule, humiliation, and general put downs.

Physical

Intimidation

Threats of violence

Neglect

This could be neglecting the physical and emotional needs of the person.

Abandonment

This could be someone who is responsible for the care of an older person not fulfilling their obligations.

Many victims of Elder Abuse do not speak about what is happening because they are dependent on others for support. Low self-esteem is another reason why incidents are not reported by victims of elder abuse.

Elder Abuse victims are not necessarily in their eighties or nineties; they could just as easily be in their fifties or sixties and being young does not necessarily mean that you are immune to Elder Abuse. It is not recognised as such in the younger generation.

Those who like to control others will employ the same strategies irrespective of the age of their victims. They will:

  1. Use pets to control others.

Many people in bad relationships stay in the relationships for fear of something happening to their pets. They feel as though they are held hostage and are unable to escape from their situation.

  1. Intimidate their victims

Control Freaks use intimidation as a tool to gain power over others and as a result it leaves victims very down trodden and with a low self-esteem.

  1. Isolate others

Controlling people will isolate others from the outside world leaving them with no means of communication with others. 

  1. Financially controls

Controlling people will keep those that they control financially dependent on them and this makes it hard for victims to leave the situation. 

There are organisations available to help those who are victims of elder abuse. It is just a matter of finding the courage to pick up the phone or to tell someone.

About this article

You may use this article as content for your blog or website. Feel free to share it with others.

Read my other articles on www.robertastewart.com

 

“Retire with Little Money” is your practical guide to achieving a comfortable and stress-free retirement on a limited budget. This ebook covers strategies to maximize your savings, reduce living costs, and make the most of available resources. From affordable housing options and healthcare savings tips to part-time income ideas and smart budgeting practices, every chapter is packed with actionable advice. Whether you’re approaching retirement age or just planning ahead, this guide will help you create a lifestyle that balances financial security with the freedom to enjoy your golden years. Embrace retirement confidently, even without a large nest egg!

 

If you enjoyed this article, maybe you will like this ebook, “Retire with little money.” Click on the link below to obtain your copy.

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3 Reasons why people do not get ahead

3 Reasons why people do not get ahead

Written by R. A., Stewart

We have heard the term “Cost of living crisis” a lot in the past few years with people struggling to make ends meet. The government is often made the scapegoat for all of this; whether it is the government’s fault or not,  taking responsibility for your own money management and the choices you  have made is the only way you will get ahead in life. There are three main reasons why people do not get ahead. Each one is explained further. I have written this with the intention of not mincing my words.

  1. Lack of vision

Life is for living but it is not cheap. Whether you are buying a car, enrolling for further information, getting married, having kids, taking out a mortgage, or retiring, being prepared financially for all of life’s stages requires saving. Having the vision to prepare for all of this will enable you to cope with the expense. A person without vision will spend their money as if there is no tomorrow. Living from one payday till the next without any thought for the future. This kind of attitude will lead you to the poorhouse.

  1. Lack of planning

“If you fail to plan you plan to fail,” as the saying goes. Making a plan for your money and putting it to work for you requires vision and discipline. It will help you to get the most out of your money. You need to decide what you are saving for and deposit that money in the appropriate account. A person without a plan is like a person on a life raft; they will go wherever the waves take them. They will spend everything they have then when some unexpected bill crops up they will borrow the money and put it on the credit card. There is a cost to this and it is called interest. 

  1. Lack of financial literacy

This has to be the number one reason why people have poor financial outcomes. A person with no financial literacy will make poor financial choices which eventually lead to poverty. Getting paid more is not a solution to poor money management skills. Getting financial education is easy and you don’t have to spend a fortune on books; your local library will have books on budgeting and investing. You will be able to find such books at your local charity store for a couple of dollars.

About this article

You may use this article as content for your blog or website. The opinions expressed are of the writer and may not be applicable to your personal circumstances, therefore, discretion is advised.

www.robertastewart.com

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Attention Men: Don’t let Dating Scams Destroy your Retirement Plans 

Attention Men: Don’t let Dating Scams Destroy your Retirement Plans 

Written By R. A. Stewart

Millions of dollars are lost to romance scams every year and the target of these scams are older men. This is understandable, because retired men are likely to have built their assets up by the time they reach a certain age. 

If you are at that age when you are making yourself available for dating, just be careful because not everyone who joins a dating site is looking for romance, some are scammers who are searching for potential victims. 

If you are contacted by a lady who says she is looking for a marriage-minded man then there are some telltale signs which will indicate that she is not who she says she is and rather than finding a place in your heart she has her eye on your bank account.

Here are the main indicators of a scammer:

  1. She is about 30+ years younger than you and claims that age difference does not matter.
  2. She claims she is from a European country and is working in Africa as a nurse or school teacher.
  3. She claims that she is Christian but the contents of her letter/email do not line up with Christian values.
  4. She does not dress modestly (that is putting it mildly)
  5. She asks you for money.

The fifth one is a sure sign that you are dealing with a scammer.

Once she has gained your trust she will then make up excuses for why she needs the money.

This unfortunate lady will create circumstances why she needs the money, here are some:

My late father has died and I have no money to bury him.

My child is sick and I need money for medical expenses.

I need money for the plane ticket to meet you, etc, etc, etc.

Be aware of anyone who tries to make you feel guilty in order to get you to send them money.

If she says, “If you don’t send me money, my child will die.”

What human being wouldn’t want to help someone in this unfortunate situation?

Most people will feel guilty if they do not do as the lady suggests.

She is using what is known as, “Manipulation by guilt.” It is when someone tries to get you to do something by making you feel guilty.

There is one message for all men: “Don’t give in to any kind of emotional blackmail.” 

As far as dating websites are concerned, there is no shortage of options. It is important to choose a site which is based in your own country or at least a country which has laws that protect consumers.

Don’t sign up to any site which asks you to pay to send messages. What you will be doing is communicating with women who are being paid by the site owner to correspond with men.

Losing money to fraud is both emotionally and financially damaging for victims, even more so when someone you thought you could trust is the scammer. Heartless criminals are taking advantage of people looking for a life.

About this article: You may use this article as content for your blog or ebook. Read my other articles  on www.robertastewart.com

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3 Habits which can make you rich

3 Habits which can make you rich

Written by R. A. Stewart

“You don’t have to be rich to invest but you have to invest to be rich.”-Unknown

Forget the lottery, here are three habits that can make you rich beyond your wildest dreams. It does not matter how old you are, how much money you currently have in the bank, or whether you have any experience at investing. If you can look beyond your own personal circumstances and develop these three habits then you are well on your way to financial success. 

So you may be wondering what is the magic formula for financial success?”

Number one habit to develop is:

The Habit of Saving.

Simple, isn’t it. You simply spend less than you make and whatever is leftover is your excess.

All of us have an ordinary savings account where our payment from whatever source goes into. This really should be named a spending account because we spend money from this account using our bank card. It is a good idea to transfer money into another account which is used for saving up for whatever it is we are saving for and this account should not be linked to internet banking where scammers are able to access it.

Saving money gives you financial security and enables you to cover the unforeseen emergencies which crop up from time to time. Medical and dental emergencies, car and household appliance repairs can be expensive so having savings behind you cushions you against these kinds of shocks.

Saving also enables you to reach your financial goals and helps you to become wealthy.

The Habit of Investing

Most people are able to save something from their pay packet but comparatively few people invest that money. For those people their savings becomes spending money. In the end these people have nothing to show for their years of toil and their options are limited due to their lack of finances. 

Investors on the other hand have more options available to them later in life because finances are not a problem. 

The habit of investing also increases your financial literacy which in turn helps you to make better choices when deciding on where to invest your money. 

This reduces financial stress, increases your independence, and prepares you for retirement.

The Habit of Reading

Reading books increases your knowledge. The habit of reading books of a financial nature will increase your financial literacy. It is a fact that most people are not financially literate. They may know how to negotiate loans and how to get a credit card but people who are intelligent do not purchase stuff on credit because they know that it only means paying more for whatever they are buying.

You do not have to spend too much money buying books when your local library has good books available. You might also pick up some good books at your local charity store.

On the internet you can find lots of useful information on personal finance. Ask chatgpt to provide some answers to any questions you have or go to quora.com which is a question and answer site. You need a gmail address to register with quora.

About the article

The information in this article is of the opinion and experience of the writer and may not be applicable to your personal circumstances, therefore discretion is advised. You may use this as content for your website or ebook.

Read my other articles on www.robertastewart.com

Investing with Sharesies is an accessible and straightforward way to invest in the stock market. By following these steps, you can get started on your investment journey and start building your wealth. However, before making any investment decisions, it is essential to do your research and seek professional advice if necessary.

 Join Sharesies here

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Book Review: Rich Dad Poor Dad 

 

Written by R. A. Stewart

Rich Dad Poor Dad by Robert Kiyosaki is one of the best selling finance books of all time. It tells the story of two Dads in his life, his biological father who he called “Poor Dad” and his friend’s father, who he called “Rich Dad.” 

His Poor Dad worked diligently all of his life but could not get ahead, his Rich Dad was smarter with his money and was rich. The Rich Dad mentored Robert and helped him become financially literate.

It is not how much money you make but rather what you do with it after you make it and that is the basic theme in this book.

 

In the book, Robert focuses on getting rich through financial literacy, investing, and entrepreneurship.

The most important lesson is to know the difference between assets and liabilities. Kiyosaki reminds readers several times throughout the book the importance of building up your assets and minimizing your liabilities in order to build up your financial portfolio. He makes the point that many people mistakenly think they are acquiring assets when in fact they are accumulating liabilities. A perfect example is of a house which though it may be a family’s biggest purchase during their lifetime is a liability because it costs money to keep and maintain.

Kiyosaki also stresses the importance of a financial education and claims that the education system does not teach financial literacy to the detriment of children.

The book also explains the concept of having money work for you instead of working for money. Poor Dad had the working man’s mindset of working a set number of hours per week for money while the Rich Dad focuses on acquiring and building assets which generate an income.

Writing Style

Robert Kiyosaki writes in a way as though he is a mentor to his readers rather than if he was simply writing a textbook which resonates with so many readers.

The book has had its critics though, one is that it is too simplistic with not enough actionable advice on how to create and build wealth. It has also been criticized for focusing on financial gain and little emphasis on the social or environmental impacts of wealth building. 

Kiyosaki’s dismissal of education does not resonate with everyone who values the education system. He does highlight the shortcomings of the education system, but his message is not going to go down well with parents who are trying to encourage their children to focus on their school work.

Conclusion

Rich Dad Poor Dad is certainly a very good book as far as improving your financial literacy is concerned, but the information needs to be applied according to your personal circumstances. I have no hesitation in recommending Rich Dad Poor Dad as a must read for anyone wishing to get ahead in life.

About this article: You may use this article as content for your blog/website. Feel free to share this article with others.

Check out my other articles on www.robertastewart.com