Do this to protect your money when buying from the internet!

I recently found a program that I wanted to purchase off of the internet but I was not familiar with the company that was selling it. The only way that I could purchase it was by my Visa Debit card. So I was a little skeptical but I wanted the program.

I've coached several people who have had their account info and identity stolen by making purchases over the internet. My wife and I was also a victim of this about 5 years ago.

Here is a way that I've discovered that pretty much is a 100% way to protect your bank account from being drained by a online thief!

When you find something you want on the internet and your not 100% comfortable about the security of the online sale go out and get a Visa Gift Card to make the purchase!

Here are the benefits of doing so:

1. You can use the card to make purchases on the internet
2. Even if someone steals the info all they have access to is the amount on the card not all the money in your account
3. Some banks offer this for free so it can cost you $0.00 to do this
4. If something does happen Visa offers a free service that will help you track down your money!
   

Here's what you do:

1. Find out the total cost of the purchase (include shipping and handling and taxes)
2. Go out and get a Visa Gift card for that amount. I usually just round to the nearest dollar.
3. Register your gift card online. You will have to put your name and mailing address so you can make the purchase online. (So some of your Identity is still out there, but at least your money isn't)
   
4. Make the purchase!

If your unsure about an internet purchase try this method out and tell me how it goes!

Carlos Frank
Personal Financial Coach
www.nextmoneystep.com

Secret to making good money decisions

My clients hire me for several reasons, one of the main ones is to give them sound advice to help them get their finances in order.

Have you ever given someone some good advice? For most people this answer is yes.

How many times have you watched talk shows or a movie and yelled out advice to the person that was getting ready to do something crazy!

"Break up with him!" "Forgive her, she loves you!" "Stop drinking and driving!" "There not your friends, stop hanging out with them!"

You know what makes it so easy? It's always easier to give someone else advice because you are not emotionally attached to their situation! Think about, haven't you been in some of the same situations that you've given a friend advice on? When your in the situation emotions will try to take over and make you do crazy things especially when it comes to dealing with your finances! That is why getting advice from someone outside of your situation is so powerful.

So next time you have a difficult decision to make do this: Step back from your situation and pretend that it's someone else going thru it. Then ask your self this question, what advice would I give my friend that's in this same situation. Or better yet seek advice from someone that you respect and you know has your best interest in mind!

There is safety in wise counsel!

Carlos Frank
Personal Financial Coach
Website: www.nextmoneystep.com

2 Simple Laws of Coupons and Sales

I just purchased something online and used a promo code/coupon to save some money. That made me think about several clients that have told me that they use coupons and take advantage of sales but still end up overspending.

Think about it. Have you ever walked into a grocery store with good intentions to sticking to your grocery list (you are using a grocery list, right?) and then end up with $20-$100 more in groceries than you intended? Then you justified this by saying well I just could not pass up a sale like this! Hmmmmm.....

If you find yourself doing this here are the 2 Simple Laws of using Coupons and Sales (Plus a 3rd bonus Law) -

1. Only use coupons on items that you have already decided to buy!
2. Only take advantage of sales on items that you've already decided to buy!
3. Read Law 1 & 2 over again!

Stores create sales and coupons for one purpose only, and unfortunately it is not their #1 goal to save you money, no matter what they say! Sales and coupons are made to do one thing! To make you want to buy, buy and buy!

So the next time you see a sale or coupon. Stop. Breathe. And ask yourself, "is this something that I already wanted to buy?" If so......then what are you waiting for? Throw it in the basket. If not then just keep on walking and keep your money!

Carlos Frank
Personal Financial Coach
www.nextmoneystep.com

Are you an Emotional Spender?

Have you ever noticed how easy it is to give someone else advice for a situation that they are going thru?

Evey wonder why it's so much easier to do this for someone else than for yourself?

One word, "EMOTIONAL"!

The worst time you can ever make a financial decision is when your emotional. And that doesn't just mean when your angry or sad.

Some of the worst financial decisions I've ever made was when I was extremely happy and excited! Have you ever gotten a large sum of money and then the next thing you know your money is gone and you don't even know where it went? Emotional Spending!

Well you had a case of "Emotional Spending". So the next time you catch yourself getting ready to do this, you can do 2 things to protect yourself from making a bad decision:

1. Seek some advice from a friend or coach like myself.
2. Step back, pause, and look at your situation like you were someone else and then ask your self what advice would I give someone else who was in this situation?
3. Wait 7 days to make the purchase. This will give you time to re inventory and see if you still really want to make that purchase.

Remember don't be an Emotional Spender!

Carlos Frank
Personal Financial Coach
Website: www.nextmoneystep.com

12 ways to save money at the grocery store!

Ok it's Saturday so that means time to shop for groceries for the Frank family. So it made me think about a coaching session I just had with a client. One of the things we discussed we're her grocery shopping habits and some things she can do to save money on her groceries.

If you want to save money on your groceries then utilize this list:

1. Have a set amount you will spend on groceries on a weekly or monthly basis and stick to it.
   
2. Always shop with a grocery list.
   
3. Write out your menu for the week and base your grocery list on that.
   
4. Never go grocery shopping hungry! (Your stomach doesn't know how much you've set aside for groceries!
5. Keep the kids at home! I have 4 of them so I know this from first hand experience. They are excellent salesmen!
6. Ok if you have to bring the kids go back and read rule number 4 and keep them out of the cereal aisle! Ever notice how Captain Crunch and all his friends are right at your kids eye level?
7. NEVER, NEVER, ever go grocery shopping at a gas station or convenience store. You will always pay a premium because of "convenience"!
   
8. Only buy what you have on your grocery list.
9. Take advantage of coupons if they are for things you were going to buy anyway.
   
10. Keep a running estimate of how much you've bought so far. For example if the milk cost $3.29 I add $4.00 to my running estimate. Then the eggs cost $1.59 I add $2.00 to the $4.00 for the milk and I now know I'm at $6.00 so far. Rounding up to the nearest dollar helps account for taxes and 99% of the time I'm over the amount I actually spend at check out.
11. Don't buy something just because it's on sale! Only buy it if it's on the list or if you are going to replace it with something else and stay within you grocery budget.
12. At the check out line keep an eye on how much things ring up for to ensure they ring up correctly, then take a quick glance at the receipt to ensure that they didn't ring up 10 of something that you only bought 1 of! Hey...people make mistakes.

What tips do you have to save money at the grocery store?

3 things you must know before you invest in anything!

I've had several clients and students tell me horror stories about things they've invested in and lost all of their money! Get rich schemes are at an all time high. There are people and systems out there set up to take your money!

Here are 3 questions that you must be able to answer before even considering giving your time and money into any financial investment:

1. How does your money go into the investment?
2. When your money gets in how and where does it make more money, increase in value, appreciate?
3. How do you get your money out of the investment?

The above three questions are the building blocks and will stir up other questions that you should ask before you invest any time or money. There is safety in sound advice, so always seek the help of a competent professional investment consultant before making your decision.

What kind of money schemes have you heard about or fallen prey to in the past?

What's better Security or Freedom?

Quick question for you?

Are you seeking "Financial Security" or "Financial Freedom"?

If someone would guarantee you, shelter, clothing, lights, water, a bed to sleep in and 3 meals a day would you be content? I call this financial security. Or "just getting by" mentality. Just enough. Paycheck to Paycheck living. Do you know what the most secure communities are on earth?

Answer: Prison!

Think about it! Your guaranteed: shelter, clothing, lights, water, a bed and 3 square meals a day! Prisoners are the most secure people in the world. But do they have "Freedom"? NO!
Prior to working with me many of my clients feel like financial prisoners.

I propose that you should be seeking "Financial Freedom"! That means renewing your mind about money, being free of keeping up with "The Jones's", becoming a giver, breaking free from debt and creating multiple streams of income!

So are you looking for "Financial Security" or Financial Freedom"?

Carlos Frank
Personal Financial Coach
Website: www.nextmoneystep.com