10thousandgirl: 11 Ways To Do More With What You Have

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Hi all you awesome Savvy Shes!,
I wrote a post over on the 10thousandgirl blog that I thought you might enjoy. It is all about spending less by doing more with what you currently have - and you can get creative about it! We talk about Upcycling, Repurposing and Collaborative Consumption

Here is the link: http://www.10thousandgirl.com/2012/07/24/11-ways-to-do-more-with-what-you-have/.

Make it as you wish SSSs!

My Passion. My Inspiration. My Life. My Path.

I started writing this a couple of weeks ago. It was total stream of consciousness coming out so it took me a little while to make it make sense! But here it is...
 
Okay, I'll admit it, I've had a pretty bad week. And I feel a little like I'm bearing part of my soul so be kind lovely readers!

I had a major freak out about my finances after paying for my much planned for flight to Europe to attend my dream of a lifetime art and yoga retreat in Paris and Provence and to meet The Man (aka my Fiance)'s family in Hungary.

Not having a regular income has taken its toll on my savings and finances. I have put many great financial and savings strategies in place, but coming back to basics - having some form of income helps (what a surprise!!!). I've known for a little while I would need to pay attention to this and now is the time!

Sometimes going through a 'freak out' (for want of a much better term) helps you pay attention to what is important. And it can take something big to really motivate you to change or make something a priority.

So I'm doing something about it. I'm putting a plan in place to bridge the gap between where I am now and where I want to be. I'm also reconciling my emotions around it - trying to stop beating myself up about what I should/could have done differently income-wise and appreciating the massive steps I've taken to create the life I want.

Savvy Sassy She is all about working out how to live a life that is how you wish it to be. To question the 'shoulds' in your life and consciously create what you truly want and need. And to do this with sparkly bits and tools and fun and laughter and a great community along the way. I am no expert (but I hope to bring you some experts in different parts of life in the future) and my experience is a journey too. A journey to create what I see my life as being and all the up and down experiences along the way that get me closer to that vision.

After a wonderful and much needed discussion with my mother (thanks mama!!) I brought everything back to why I have chosen this life for myself. We all have bad days, but bringing our attention to the reason why we've made certain choices can help us understand and put things in perspective. The choice in the short run may have not-so-nice consequences, but in the bigger picture that choice is right and is helping to bring you in the right direction.

Why I am choosing to follow my passions and dreams and create a life and a lifestyle around it....

Working in the family biz didn't work for me. Working full time in a university didn't work for me. After 4 years of the SSS idea plodding along in the background I decided to make a go of it. Who knows if it will be as successful (though I'm working my arse of to make it so). It may be a massive learning curve, but I'm willing to give it my all. To decide to make it happen. To not chicken out. To not have a Plan B to show the universe I am serious.

This is important enough to go through some ups and downs for. Making a difference in women's lives. Waking women up to see how they can make their lives work. Empowering them with information, view points, perspectives, systems, tools, inspiration and like minds? Yes, it is worth it. It is important enough. I refuse to be on my deathbed looking back at my life saying "I wish I had given SSS a go. I wish I could have seen if it made an impact." (ooooh, even writing that gives me the heebie jeebies).

I love being able to design my day though I miss structured routine.
I love having a say in my priorities and carrying them out.
I love getting in contact with women's real hearts and minds.
I love doing what I love everyday.

This is My Passion. My Inspiration. My Life. My Path.

This inspiration link from the fav galadarling.com came at the right time!

PS - any paid part time job suggestions/offers?! ;)

Making it as I wish SSSs!
Arienne xo

How To Build Your Savings

Another post I've written for 10thousandgirl. Saving can be a challenging idea to many, but when you break it down, it actually ain't that bad!
We all know that saving is a good thing but how many of us actually do it? Taking a little time to work out what you are saving for and what savings strategies work for you will pay off. Literally.

We’ve put together a simple 6 step process for helping to build your savings.

1. Having a motivating reason to save should be your number one thing to do.
People tend to save for two reasons:

• To have a buffer/emergency fund;
• To save towards a goal for later spending such as big ticket items or events like holidays, starting a business, house deposits and weddings.

Being clear on what you are saving for, and why that reason is important, will keep you more motivated. For example, I want to save for a house deposit so I can live in a place I call a home. Somewhere safe, cosy and a place I can entertain my friends and build my family life. Or, I want to save a certain amount of money so I can start the business I’ve been dreaming of. It means that I will be able to work flexible hours and give value to people.

2. Work out how much and by when.
Setting a savings goal. Come up with a specific amount. You need to be clear. Also, set a specified timeframe. Then break it down.

For example, I’d like to save $3000 for a holiday in September.  Which means I have 8 months to go. 3000/8=375 and I get paid fortnightly, so I would need to put aside $187.50 per pay.

Is the break down realistic? Use your budget to see how much you can save each pay. Remember, you don’t want to have it so tight that you are sacrificing too many things to achieve this amount.

3. Automate your savings
Once you have worked out how much you need to put aside, set up an automatic savings plan with your high interest savings account. One way of doing this is to set it up so it automatically takes out the $187.50 the day after you get paid. This takes the thinking out of building your savings.

There are also other ways you can save money in your everyday life. One of our 10thousandgirls suggested saving every $5 note you get. Or put some clear glass jars aside for your goal and add coins to it whenever you come home. Get on your bike and ride to work and save the bus fare. If you have other suggestions you’d like to share please do so on this blog post.

4. Spend less
Another thing to think about when you are building savings is spending less. This may be through shopping smartly, cutting down on luxuries and negotiating with your telecommunication and other suppliers. Our other topic of the month is smart shopping so look out for upcoming podcast and other resources around this.

5. Check in and keep track. Stay motivated.
Once you start the ball rolling, do a few things to help you stay on track and motivated. See your savings amount grow on a regular basis. Some high interest savings accounts have graphs that you can refer to see the amounts you have saved so far. It can be quite satisfying to watch the growth!

Also, regularly remind yourself of the reason you are saving for and the feelings you will experience when you get it. You could also share your goals with a trusted friend that will help keep you on track.

6. Enjoy and Celebrate.
Once you reach your goal, don’t forget to celebrate! This may take the form of a toast to yourself, a luxuriating bubble bath or that mani/pedi you’ve been putting off. Just make sure the celebration doesn’t cost you too much! And then enjoy the holiday/house hunting/fridge buying experience.

So, know what you are saving for and why, choose some strategies that work for you, keep yourself motivated and on track and then enjoy the result. And then celebrate away! Go get saving gals!

Photo Credit

All of the above are only suggestions. Please ensure you choose a strategy that is right for your situation and needs.

Arienne Gorlach is 10thousandgirl’s content manager. She has a few high interest savings accounts labelled with such exciting names as Holiday, Emergency Fund, Savvy Sassy She (the business she is starting) and General Savings (she has just realised she should make them less boring). And is a bit of a fan of setting up Automatic Savings Plans and then forgetting about them and then being really excited by the amount she has actually saved…

10thousandgirl Post: A young woman's journey through insurance

Hi All, here is another post I've written for the 10thousandgirl Campaign. Enjoy!

I am on my insurance journey. Not quite the same as an ‘Eat Pray Love’ sojourn but enlightening nonetheless. It is something I never really paid much attention to besides the compulsory insurances that come along with having a car or traveling to far off places but I feel now is the time to find out more about what I don’t even know.

Insurance is a topic that can get lost in our priorities due its daunting and seemingly boring nature. Normally an upbeat and optimistic individual, I’m learning that I need to be proactively responsible for my life and my interests (and the interest of those close to me) and look at the potential risks that can happen in unforeseen circumstance. Have you thought about the consequences to your future and your significant ones if something (not so nice) happened to you?

Insurance is an empowering thing to have. You are proactively looking after yourself, your family and your interests in the midst of uncertain futures. We can do as much as we can to build bright prospects and put action plans in place but sometimes life happens and we need to have a safety net in place. Insurance is like having those extra rolls of toilet paper you didn’t need at the time but have now come in handy in an emergency – it makes an uncomfortable situation more manageable.

We are working towards everything working out fine, but protecting ourselves as much as possible against events that are probably out of our control is a responsible thing to do. Mitigate your risk. You don’t plan to have an accident that puts your back out for 6 months. You don’t plan for an illness that may come in and knock the energy out of you.  If something happened to you would your partner, children and family be able to cope financially with debts or other obligations you have? Hopefully these things never happen. But if they do, having the right insurances in place can be life changing and give a better quality of life for you and those impacted.

TYPES OF INSURANCE
There are two broad areas of insurance that you should consider: General and Life.

General insurances are the ones you are probably most familiar with and have had or used to some extent. They include car, health, home & contents and travel insurance.

Life insurances on the other hand you may be less familiar with.  They have to do with policies that come into effect with death, illness, disability or temporary injury. Someone once told me that as young people, our biggest asset is our potential to earn money over our lifetime. As this is the case with most of us, shouldn’t we do something to protect that potential? That’s where different types of life insurance come into play:

• Life Cover (also known as life insurance or death cover): pays a set amount of money to the policy’s beneficiaries when the insured person dies.
• Total and permanent disability (TPD) insurance: covers the cost of rehabilitation, debt repayments and the future cost of living if you are totally and permanently disabled.
• Trauma Insurance (also known as critical illness or recovery cover: provides cover if you’re diagnosed with a specified illness or injury that will make a significant impact on a person’s life (such as cancer or a stroke).
• Income Protection: replaces income lost through your inability to work due to injury or sickness.

Everyone’s needs are different and you need to determine what is right for you. None of these may be applicable at your stage in life. Maybe it would be wise to have them all. Do your research, talk to others and seek advice from a financial planner if you need help.

One of the reasons I’ve started looking at these things is that I share a mortgage with my sister. If something happened to me that I couldn’t pay my half, I wouldn’t like to put her in the position of being responsible for the full amount. If you have financial obligations or debts it would be wise to investigate your insurance options.

Another instance would be if you have dependents. If you have children or others that are dependent on your income for their needs (housing, care, food, education etc) would they be looked after if you weren’t able to provide for them?

With all insurances, you need to take the time to analyse what your needs are, understand the types of insurance available and if they are applicable to you and compare different policies. If you find your situation complicated or you are not sure what you really need, it may be a good time to visit a financial planner or talk to some expert about your circumstances.

Do some research and find out a bit more. Start with sites such as www.moneysmart.gov.au or www.mozo.com.au for overviews, tips and comparisons.

Insurance tips (with help from www.moneysmart.gov.au )

• Shop around. Get quotes from different insurers and compare what they offer. Don't be afraid to ask lots of questions.
• Choose carefully. Write a list of the things you need (i.e. what you want covered) and pick the policy that meets your needs.
• Renew your insurance. Do this when your old policy expires or as your circumstances change.
• Work out how much you need. Do this when you start or renew your policy, so that you don't find yourself significantly underinsured. Insurance company websites have tools to help you work this out.
• Check exclusions. Always ask what is and isn't covered by your policy. Learn these lessons from what other people have experienced (Queensland floods…)
• Check the costs. You will pay a regular fee, known as a 'premium', for your cover. And when you make a claim your payout will be reduced by an amount, known as the 'excess'. Don't sign on the dotted line until you know all the costs.
• Be honest with your insurer. Tell it like it is because your 'duty of disclosure' means you must tell the truth when you apply. If you leave details out, any future claim may be denied.

Where to go to get insurance?
You can buy insurance directly from an insurance company, through an insurance broker, through your superfund or a financial planner. There are pros and cons of buying insurance through your Superannuation fund and you may already have some form of insurance through them. See more about this here.

When should I review my insurance requirements?
You should do this once a year or when your circumstances change (ie marriage, having children, getting a mortgage).

So that is personal life insurance in a nutshell…Do take some time to investigate your options and requirements. Talk to your spouse, your family, your friends and/or a financial planner and see what you may need to have in place. It could make a big difference to you. I hope you never need to make a claim, but if you do, be thankful that you thought ahead.

Make great things happen. Live well. Live big. Live bold!
Arienne

Arienne Gorlach is 10thousandgirl’s content manager. She has some insurance. She used a financial planner she thinks is quite cool. Arienne writes regularly on her own blog Savvy Sassy She.

Savings?...What Savings...????

I know, we always hear that we should be doing something with our money - save, invest, buy property, stocks, bonds - and we KNOW we should do something about debt and credit, but never get around to it. We never get around to creating a PROPER savings account (the one linked to our EFTPOS account does not count - it should be named 'spendings!'), we never educate ourselves on what investing is and how we go about it.

Well, things are going to change!!!! Finance, well...at least to me, seems like this big dark hole that I know I should look into, but it just seems like such a daunting area - I don't know where to start and I don't know who to ask.

The reason SSS is here is to help us improve in all areas of our lives. Finance being one of them. This is a huge area to look into. I don't have all the answers, well, I don't have many (yet). But one thing I know is that money gives us FREEDOM.

I've 'virtually' met some interesting women who know about finance. One of them is Anneli Knight. She writes a blog for The Age (Melbourne's main newspaper) and I have just bought her new book Flirting with Finance which I am looking forward to receiving this week. She mentioned in one of her emails that don't we "wish we all knew at 16 if we saved $20 every week til we were 21, then $100 every week for the next 5 years after that, then we'd have more than $40,000 saved up by the time we turned 26!"

Well I wish I could have just started something like that rather than waiting for later (2 weeks ago) in my life (I sent that information to my 14 year old sister, let's hope she does something about it! Don't worry, I'll be on her back in a non-nagging, supportive and encouraging way!).

But as they say, it's better late than never! So start an automatic savings plan. They (the experts) say pay yourself first. So save 10% (or whatever amount you can afford) out of each of your pay. Schedule the automatic deduction for the day after your wages normally hit your account (and before you can spend it!). I've set mine up with ING

Go on and do your future self a favour and put some money aside, you can decide later what it is for (a huge holiday, starting your dream business, an emergency fund). Set yourself a timeframe and have your SAVINGS account set up by the end of the week - lock it in Eddie!

Make it what you wish SSSs!

Arienne x