November Is Financial Literacy Month

Most of us only think of literacy in relation to reading. This month is meant to bring awareness to the term Financial Literacy and what it means to everyone. It doesn’t mean understanding how to look at your bank statement, but rather looking at your entire financial plan and understanding how it fits your stage of life.

For example, when was the last time you reviewed your life insurance policies? Or perhaps you or your partner don’t have an active policy. Or do you know if you have one?

Life Insurance is not the one trick pony of the past, there are now many choices in how you structure it. From Term Life which allows you to choose the coverage period, to Whole Life which provides a lifetime of protection to Critical Illness. Unfortunately, our health is sometimes seriously affected and Critical Illness provides coverage to protect our families from the financial burden of our illness.

If you are at a point where you don’t want to think about end of life, think about beginnings. It’s time to start your own chapter in the form of home ownership. You’ve done your research, found your new haven and negotiated your mortgage. Before you sign the papers, understand how to protect your investment.

Should you decide to add children to your equation, you hope they will move onto postsecondary education. Planning early can provide the financial education they need before they incur the debt which could come with it.

Each stage of life brings an opportunity to review your current financial standing and adjust for the future. It can be hard to know all your options and sometimes even harder to see the forest for the trees when reviewing your own assets. If you’d like some help, we’re here.

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Control Your Finances The Easy Way

Too much month at the end of the money? Many people are faced with the problem of running out of money before their next payday. This is usually because they don’t take the time to organize their incomings and outgoings and end up wondering what happened to their money. There are solutions to help you control your finances which have helped me over the years and now I want to share them with you so you can learn to control your finances the easy way.


Monthly bills consist of things such as rent, electric, water, council tax and gas. These are bills that are usually the same amount every month. Make a list of all the bills you pay every month along with how much you are paying for each one. Now add up the figures so you know how much you are paying each month in total. If a bill ranges between two amounts then write down the higher amount. For example if you pay between £50 and £70 for electricity then write down £70. You can find the amounts by reading through your bills or bank statements.

Some Electric and Gas companies give you the option of paying a single monthly payment. This way they can monitor how much gas or electricity you are using and adjust your monthly payment accordingly. It is good if you take this option so you only need to add the extra money when they increase or decrease the direct debit. The companies don’t mind you going into debt with your gas in the winter as your payments will reduce the debt in the summer months if you don’t use your heating.


Direct debits allow companies to take the money direct from your account when the bill is due. Once you know how much you need to pay on bills each month you can leave that amount in your account or transfer the full amount to another account if you want to use a separate one for bills. Companies will inform you of any increases so you can adjust the amount you pay. If possible choose the same day for the payment to come out if you are paid monthly, or the nearest day, which is useful if you have all your outgoings coming out of the same account.

Note: these companies can only take out what has been authorised so you don’t have to worry about extra money being paid out. There are also times when they may take the payments 2-3 days earlier because of the direct debit date falling on a weekend or a bank holiday so make sure your money is in your account in advance. Call the companies you pay to set up direct debits. You can actually save money with the direct debit method as you get offered discounts.


Your bank allows you to open multiple current or checking accounts which you can use for various purposes such as spending and bills. Use one of your accounts for your monthly bills and set up your direct debits to come out of this account. Transfer the total amount of money you need to pay bills into this account once a month and you’ll know that the bills are sorted for the month. I would recommend that you add extra money onto the total so you don’t have to worry about going overdrawn. It may also be a good idea to have a small overdraft on the account in case you need it.

You can also use an account for your general spending needs such as groceries and fuel. I recommend you have your salary transferred into this account – so after transferring the bill money everything left is yours to spend. You can also use this account as a savings account by letting your money stay in there and spending only what you need. Anything left over by Payday can be classed as savings.

If you prefer you can have a separate savings account where you can transfer a set monthly amount or have it done automatically via a standing order. Or you can manually transfer anything left over from last month. It is always recommend having some money saved in case you need it. You never know when there is going to be an emergency or a situation where you need extra money. You could choose an amount you can comfortably save and consider it a monthly bill.


Sometimes we can be too reckless with money. Imagine walking into the store with the children in tow and they start adding things to the basket. Imagine seeing something on offer and grabbing as many as you can or picking up something you didn’t really need but it was a bargain. After putting money aside for the bills it is recommend you set yourself a spending budget. For example you may only have £400 left for the month so you could limit yourself to £100 spending per week. Make sure you have the things you really need before you start spending and use the leftover for treats.

You can save money by focusing on the most important purchases for the week and buying certain things in bulk. Buying a six pack of baked beans might be cheaper than buying six separate cans. If you like to drink buy a few cans to drink at home and cut down your time in pubs and bars. If you use public transport try buying a travel pass to save money on paying fares separately. Try taking a packed lunch to work. Basically, if you don’t really need it then don’t buy it.


The longer you have a credit card or loan debt the more interest you pay. If you have debts then there are ways to keep them under control and save money.

If you have more than one credit card then consider a balance transfer. By transferring all your credit card balances onto one credit card you can get a lower interest rate and a lower monthly payment which will make it easier and faster to pay off.
Use any savings to pay towards the debt. This will save you money on interest payments and reduce the debt faster. If you have extra money then try and clear the smaller debts off first to get rid of them so you have extra money for the bigger debts.
Consider a consolidation loan from the bank. You can borrow enough to pay off all your other debts and just pay one set monthly payment by direct debit. By reducing the number of debt payments to one loan payment you can end up with extra money each month.
If you can’t get a loan then consider an Individual Voluntary Arrangement (IVA). This allows the interest to be frozen on all your unsecured debts and you pay a set monthly amount as much as you can afford for five years. This doesn’t apply to secured loans such as car finance.

I hope this article benefits you in some way. I have personally lost lots of money over the years through debt and reckless spending and I have finally sorted myself out. I have no debts and money in the bank. And I hope you get to this point too.

Increase Your Income

Increase income is a critical step to the Wealth Creation Formula. It will be difficult to become rich without the increase in your income. Once you have created an income flow. Find ways to increase it. No, I didn’t say go get a second job, the third job, or start a business. I want you to increase the income from your current flow.

Don’t lose focus on your first source. This is where people lose. They try to branch out too quickly. The sexiness of quitting their jobs drives them to look for other sources without perfecting their first source. In addition to fortifying your first source, increasing that flow takes skills. But the learning process will help you scale later.

The Importance of Your First Stream

Your primary income source is your lifeline. This is why we want to increase it. All too often people start new business ventures and let their primary income flow dry out. Remember your primary source pays the bills, keeps food on the table, and it will fund future investments ventures.

The movement to become your own boss is enticing. The road is paved with broke bosses and would be entrepreneurs. Starting a side hustle is the correct thing to do. But not before you secure and increase your first flow. Your first flow funds your entire lifestyle. Don’t forget that.

Increasing Your Income

How can you increase your income now with your first flow? How can you bring more money in with what you are already doing? Look at your income source. How can you earn more money with that? What other duties can you perform to get more money coming in?

You can increase your pay. Have you looked at ways to earn more money in your current position? Here are some examples:

Food service workers, waiters, and waitresses can improve their communication skills to get higher tips.

Uber, Lyft, Taxi, and Delivery Drivers can improve their service for more tips. They can put up signs that remind people to tip. Also, rideshare drivers can drive more to earn bonuses. Plus they can participate in the referral program and earn more money recruiting more riders and drivers.

Sales and Commission people can earn more money by doing the financing also. Or if the customer doesn’t buy from them could you refer the customer to a competitor and earn a referral fee.

Blue Collar/Union Worker can increase their skill set to learn other jobs and use their seniority to get extra work. Is their overtime available for you to take to increase that current flow?

No Opportunities to Increase?

Now there are some instances where you can not increase your income. Although this is rare or you just suck at finding out the current opportunities. This is where you invest in yourself. Instead of hopping on the next get rich trend. Invest in learning a skill like sales and marketing. Learn how to turn your current skill set into dollars.

What does Increasing Your Income Look Like?

Here is what increasing your income flow looks like:

Let’s say you are an Uber driver. Driving is your main source. Now one way to increase your income is to drive longer hours. You can drive for 12 hours per day with Uber. Next, you can increase your tips by having a clean car, communicating well, and having signage that reminds people to tip. Then you can recruit other people and get a referral fee.

With Bonuses and tips alone a rideshare driver could earn up to $400 extra per week. This is how you increase your current income flow. The key is to find opportunities with your current job or business. It saves you time and a learning curve. You are already an expert in what you are doing. Just get paid more to do it.

Don’t Become Satisfied with Your First Flow

Once you master your first flow don’t become satisfied. Don’t compare yourself with other people because you are doing better. The goal is wealth creation. One income stream will never make you wealthy. On the other hand, it is your key and now you can create other streams because your current stream is strong.

You never let your wealth depend on one income. Now that this is fortified and growing it is time to find a second source. The second source is another flow. It is not replacing your first stream. It is adding to your income. Branching out takes courage and skills. If you have increased your income from your first flow you have developed some skills.

I always suggest creating a second stream that is symbiotic with what you are doing. Like the Uber/Lyft drivers who are earning commission on referrals. Since they are recruiting they can get commissions for referring people to other products and services. Now they are marketers.

Sales professionals can consult, write books, or get paid to speak. These are ways that they can build multiple streams with their current skillsets. Again, once your first flow is secure and funding everything it’s time build a symbiotic second flow.

Charles Fitzgerald Butler is an entrepreneur and expert in sales and marketing. Charles has a passion for helping people start and run a successful business. You can partner with Charles and start building multiple income streams from your home. Charles’ goal is to help all who partner with him achieve cash flow and profits from their business.