Create a Budget Plan with 3 Easy Steps

1. Base Your Income and Expenses on Reality

Start by listing everything you spent money on in the past few months. This might be a hassle but remember it will help you to prepare a budget plan much easier. Be honest with yourself amd try to remember all you expenses as much as possible so you will not get confuse in the end. You want your budget plan to be as accurate and right as possible, to ensure that you will not leave any single detail. Try to stick in your monthly expenses goal. For yopu to do this you should base your budget plan in reality, put all the correct figures and don’t edit anything. Don’t be afraid to put all your expenses.

2. Customized Plan

Choose the right budget plan for your business. Don’t get confuse because I know that there are a lot of types of budget plan. You may want to do a little research for that so you can be sure on what will you pick.

3. Find a Method to Track Your Budget

Now that you had picked the right budget plan of your business and already calculated it you shall start monitoring. It’s definitely important that you will not lose track to your budget plan. Because if you do heck you will be so confused and you will end up doing and reviewing a lot of works and papers

There are a lot of methods and alternative ways to keep in track with your budget plan. You can have a list book or a board that has all the info about your plans. And if you are a techy person, you can now celebrate because nowadays there are apps that can help you track your expenses and go according to your budget plan. For example the Mint.com’s completely free web-based service and mobile app and the Microsoft’s free monthly budget templates you can easily download. Again that are just the examples of the ways or apps that can help you to keep in track with your budget, there are still a lot more ways to do that. And it is definitely up to you. What will you choose to keep on track but when you find the right way to keep you in track I highly recommend you to stick with it.

Source:http://www.huffingtonpost.com/carrie-smith/create-a-budget-plan-that_b_6052050.html

SECRETS TO CREATING A BUDGET

You'd never set out on a cross-country road trip without consulting a map. Likewise, you can't expect to reach your financial goals without developing a plan for spending and saving.
Budgets play a critical role in helping consumers pay off debt, build their nest egg and make the most of their hard-earned dollars.
Yet, despite their best intentions, many Americans lack the money-management skills necessary to get their bank accounts under control. Why? Often, it's because they don't know where they stand, says Jim Tehan, a spokesman for Myvesta Foundation, a self-help consumer education website.
"People write out budgets all the time without knowing where their money is really going," he says. "What they've created is a wish list of how they'd like to spend their money, but it's not realistic. It's a page of lies."

*Follow the money: Track your spending

The first step to developing a budget, says Tehan, is to track your expenses for at least a month, using a smartphone app computer program, or old-fashioned pen and paper. Be sure to record every purchase, no matter how small.
"Once you know where your money is going, you can make an educated decision about how best to allocate your money," he says.
Many novice budgeters make the mistake of becoming too financially conservative, at least on paper.
"The No. 1 rule of setting budgets is to not cut all the fun out of your life. Inevitably, Spartan budgets that have no allowance for entertainment are doomed to fail."
Instead, learn to moderate. "If you're eating out every night, and that's something you enjoy doing, try eating out once a week instead," says Tehan. "It's not about cutting out everything that gives you joy in life. It's about better allocating your money."

*Make savings contributions automatically

Though every budget scenario is different, Curt Weil, a CFP professional and president of the FPA of California, says a good rule of thumb is to allocate at least 10% of your earnings toward savings, using direct deposit to pay yourself first.
Tehan agrees. "If you put that money aside before you even see it, you won't miss it. Direct deposit helps to put your savings on autopilot."
Short-term savings that you may need to access can be held in an interest-bearing savings account, 6-month certificate of deposit or money market land. Long-term savings, meanwhile, should be directed toward a tax-friendly retirement savings tool, such as an IRA or 401(k).
The ultimate goal is to maximize your 401(k). The maximum is $18,000 for 2015, plus $6,000 for the catch-up contribution for workers age 50 and over. The limits are the same for 2016.

*Define spending and priorities

Another 35% of your earnings, he says, should be earmarked for housing and utilities. Weil says, however, that homeowners can often increase that percentage since principal payments are already a form of forced savings, and the mortgage interest they pay is tax-deductible.
If you're saving for something specific, such as a new car or your child's college education, you may want to set aside another 10% of your earnings into an interest-bearing account or a tax-favored 529 college savings plan.
Everything else -- the remaining 45% -- is discretionary, for use on food, entertainment, clothing and vacations.
That's where priorities come in. You can't have everything you want, says Martin Siesta, a CFP professional and founder of Compass Wealth Management in Maplewood, New Jersey, but you can direct your dollars toward things you want the most.
"If consumers start by deciding what's most important to them, then cutting back on some of the things that aren't that important isn't really a sacrifice," he says.

*Pay with cash

Once you've determined how much to set aside for saving, spending and investing, it's time to make those numbers stick. Using CREDIT CARDS and debit cards makes it all too easy to overspend.
With the exception of your mortgage and car loan, most consumers should implement a strict policy of paying with cash for groceries, clothes, vacations and nonessential items.
Siesta also recommends relying less on ATMs, especially those that charge a fee. Withdrawing a fixed amount of discretionary money at the beginning of the month, he says, forces you to make better spending choices.
"By spending cash out of an envelope, you begin to get a better feeling for where your money is going and what your priorities really are."

FROM:http://www.bankrate.com/finance/financial-literacy/secrets-to-creating-a-budget-1.aspx

5 THINGS TO REMEMBER BEFORE PUTTING UP A BUSINESS

    1)Right Place For A Better Pace

Choosing an appropriate place for your business will surely bring you to a right pace. The place is the key for the business to success. Because place can bring you a bunch of customers if you pick wisely. The place should be appropriate for your business. Malls, terminals or any place that most of the people go are the right place that you should consider.

2)Survey To Prepare

Before choosing a product I highly recommend you to conduct a survey. It will help you to be aware on what your customers or the people likes and dislikes in a product. You can know what is the best product to create. And also it can help you to avoid bankruptcy. You can also be familiar to your customers.

3)Partner In Crime

Having a business partner is a great idea too because you can divide the work more ideas can be put in plan. As the old saying "Two is better than one." But be careful in choosing a partner be sure that you can trust him/her, remember "Prevention is better than cure."

                                                                                      4)Be Ready And Steady

Be ready for any changes because nothing is constant in this world except change.  Be ready because having your own business is very hard, you will encounter  many hardships and obstacles learn to have a steady faith and courage. But if you manage to overcome that you will surely experience the perks of having your own business.

5)The Plan and Plans

You should plan every step that you will make. Always have a back up plan,  don't worry if plan b and c don't work there are still 23 letters. Don't be afraid to explore and create plans.  It much better to ready than not.  Having plans can help you solve problems especially in your business. The more you plan the sure your business is. 

At the end of the day the only thing that you should have is COURAGE. Don't be afraid to explore and experiment. Remember big things starts from small things. Successful businessman startd from the scratch too.  Have a good day and let your imagination be free.

Attracting Customer 2.0

We all know that a business is like a plant and the customers are like water

A business can never grow if it has no customers to nourish it and to support it. A steady flow of customers allows you to grow your business and fulfill your company vision. So it's very important to have a pleasant personality to attract new customers. So here's a few tips on how you will be able to attract new customers:

1. Identify Your Target Client

“Have a crystal clear picture in your head of exactly who you're targeting,” says OPEN Forum community member Nicole Beckett, president of Premier Content Source. “Think about what makes those types of people happy, sad, scared, relieved, and then think about how you can make their lives a little easier.” it is much easier to think of a new techniques on how to attract new customers if you knew who are your client. It will help you to avoid creating a very large target market plans and end up confusing yourself. Attracting many customers is one of the towards a company's success. it will also help you to identify what kind of endorsement will you use.

2. Discover Where Your Customer Lives

"Identify those places where they are likely to be found (media, online, offline, mail, etc.), and then create messages for them,” says Jeff Motter, CEO and chief marketing officer of East Bay Marketing Group. Where you look for customers will depend on the nature of your business. For example in forums conventions malls etc. You can also find a bunch of potential customers online, especially in the social medias like facebook twitter and instagram. It can also become a good source of advertising.

3. Know Your Business Inside and Out

If you know every little bit of details in your business it can also be a way to attract a customer because if someone is interested in your product they will surely ask for your assistance. They will surely ask many question believe you manage to answer all their questions, I'm definitely sure that they will be convinced. When you are convincing a person you should be knowledgeable for them to truly believe.

4. Position Yourself as the Answer

“Provide value and establish yourself as having an in-depth understanding of the problems they are looking to solve,” he says. “This takes the form of creating content via webinars, blog posts, guest blogging, and getting out there and physically networking with people. From all this you will start to attract a following, and as long as you have a structured sales funnel setup, you will be able to convert the followers/fans into paying customers.”Jason Reis owner and lead programmer for Flehx Corp. Be all knowing when it comes to your business that's all you have to know. XD

5. Try Direct Response Marketing

Response to their feedback avoid not responding to them. You can also create a survey for their feedback or any kind of way for you to communicate to them. Create messages directed at your target market, suggests Motter. “Learn to create ads that attract your ideal clients by giving them something of value for free to get them started in your funnel. Learn all you can about direct response marketing practices, because they will teach you to focus on results that matter. Create compelling messages that tell your ideal audience why they'd have to be a fool not to work with you. Show them you understand their pain, and can make it go away faster and cheaper than they could without you.”

6. Build Partnerships

Two is better than one, having a person that is willing to help you is very much of a relief. Creating a partnership is very important it can lessen your work and also it can help you to gain more customers. Because the customers of the both party can merge.

“Focus on building human relationships. The stronger your relationships are, the more likely your customers will be to tell their friends about you. And, the more likely they'll be to come back.”

7. Follow Up

After exerting all your efforts and energy to attract new customers don't forget that your task are not yet done. You still have to follow up all the executed plans and activities. Always monitor your business don't let all your efforts come to waste just because you forgot to follow up everything.

SWOT to Plot

As the old life saying tells "Prevention is Better than Cure". In business we can't also relate that saying. Planning and identifying the strengths and weaknesses of your business are very important. That's is the reason why we do SWOT Analysis. So we can analyze how strong and weak is your internal resources including management manpower, money, materials, and machinery. Skilled manpower, positive returns, fast production, and cutting edge equipment, some of the examples of a company's strengths and lack of reliable suppliers or materials, slow production, bad feed backs, and unhappy customers or workers can be the weakness of a company.

The meaning of SWOT is Strength, Weaknesses, Opportunities and Threats. I personally recommend you to do the SWOT analysis so you can prevent small problem to become a big problem. You can also improve the weak parts of your company. It will help your company to become a better and more proficient one. It can also help you to plot an advance resolution to the problems that your company will encounter. Plotting and organizing things is your problem? Why not conduct the SWOT? So are you waiting for conduct the SWOT Analysis for the better of your company.