Start a financial rehab program to get on the right track.

Give your budget a check up - analyze how much you have coming in - and how much is going out.

Is there a difference between drug store and department store cosmetics?

Read More

MOSAIC MEDIA LLC  © 2013  |  Privacy Policy

Take the first steps to fix your credit.

Read More


Help support our efforts as a Black Business. Always use Best Black Buys as your portal to Amazon. And tell a friend! Thank You.

     Also Popular In This Issue ...


Stop feeding costly spending "cravings" that  break your bank!!

Which one needs a Medical Power of Attorney?

Read More

Stick to your financial fitness program to achieve your financial goals.

Going on a financialdiet is not a punishment. It's a smart money move to save more and spend less so you can build a healthy financial future!

How to Go on a Financial Diet.

Take steps to improve your financial fitness by going on a financial diet!

Are you trying to save money but making no progress? Does your debt feel like a heavy weight that follows you day in and day out? If so, chances are you have come to the conclusion that you need to save more money but are not entirely sure how to do that. And do know that you are NOT the only one.

We understand. And we're here to help.

This article is written to address those obstacles. It shares effective ways to get on a workable “financial diet” and stay on it until you have reached your goals.

Our tips and advice are not lofty, financial theorie, but safe and powerful ways to save more money, starting right now.

But, before we get into all that, we need to get into all this--- To say that it is easier to save spend money than to save it is the human nature fact of life. But here's the transformational reality that you must embrace, because it is true: Once you get on a financial diet that works for you, saving money will become much easier than spending it.

There are four simple facts to keep in mind as you read this article:

  1. For every person saving money, three times as many are not. So applaud yourself for recognizing the need to take control of your finances!
  2. While the stock market may be showing signs of recovery, for millions of Americans financial recovery - let alone the ability to save money has yet-to-be-achieved.
  3. Saving money requires discipline. You must make a commitment to save.
  4. Discipline does not have to mean hardship. It's just a matter of altering current behaviors so you stick and stay to your financial diet goals.
  5. You CAN take control of your finances.

Goals, Goals, Goals!

Every plan must have a goal. And to achieve your goal, it should be a number. Just as if your goal were weight loss, you would set a number of pounds to lose, for example - losing 20 pounds. That same "numeric goal" principle holds true when it comes to saving money.

Step 1: Get On the Scales to See How Much Your Spending Weighs

Understanding where your money goes is the first line of attack when slimming down on spending. Many weight loss plans involve keeping a food log and this is a sound strategy to apply to a financial diet as well. You may find that your less obvious spending isn't accounted for.

Keep a tally of all your purchases for at least a month. Include essentials such as mortgages, car payments and occasional costs for clothing and grooming, as well as discretionary spending on extras like that cappuccino or other impulse splurges. Identifying every financial "calorie" creates a resource to help you prioritize spending.

Step 2: Stock Your Financial Refrigerator With Financial Calorie Counters

Create a file for bills, invoices and receipts and use it daily. Not only will this help you keep track of your spending, but it has a couple of other benefits that can save you money down the line as well. If you often misplace and forget about utility bills, monthly late fees start fattening costs. When it's time to complete your tax return, everything will be in one place if you're itemizing expenses. 

Paperless billing means your file may be partially electronic. At a minimum, keep a separate email folder for financial content. Better yet, use personal finance software like Quicken, that permits you to link e-bills directly into the app. You can also make payments directly from the app, saving you time, postage and stationery.

Step 3: Create a Money Menu

Personal finance apps can make the budget process easier, but even if you use the back of an envelope, creating a budget is essential. When you eat out, make spark choices. Use coupons. Take advantage of Early Bird Specials and “kids eat free” and “two eat for the price of one.” This will cut the fat from your budget. You’ll start viewing expenses that can be cut down to size, reduced and eliminated.

Step 4: Slice Your Spending Into Realistic Portions

Every plan needs a yardstick to measure its success, whether it's losing a pound a week or saving an additional $50 a month, but it's important that you be realistic. List your long-term goals, whether they involve a down payment on a house or paying cash for a new car, and then break the big goal into workable pieces that fit your monthly budget.

Committing to save $500 has little meaning without a time frame. It's probably not going to happen by next Friday, but six months from now is a reasonable goal — that means less than $100 a month. Avoid unrealistic goals that lead to discouraging results.

Step 5: Cut the Fat — Attack Your Debt

There's a reason why finance management advice always mentions getting rid of debt. Accumulating interest is the equivalent of sneaky, hidden calories in your diet. Left unchecked, debt spends your money for you. While debt such as a mortgage may be necessary, unpaid credit card balances and other high interest loans are priority targets in an effective financial diet.

Step 6: Take 30, 60, 90 and 180 Day Assessments

Go back over your Financial Diet Diary. Monitor your progress. Look at your expenditures – and most important – your savings at 30, 60 and 90 days intervals. No doubt you’ll see the amount you spent at 60 days less that what you spent at 30 days. And you’ll see the amount you saved at 60 days increase to a hefty amount by 90 days.

Step 7: Achieving Your Long Term Goal: Financial Fitness

Keep going. Look at your goals. Create a vision board for what your savings will look like when you hit 180 days and when you’ve stuck to your financial diet for a year! By then it will no longer seem like this cruel diet – instead, you will see it as finally getting your expenses on track to stay financially healthy and fit for the rest of your life!