£148 investment for £6000 back, not a scam, just very unsexy!

£148 investment for £6000 back – not a scam, just very unsexy!

 

I have spent a fascinating week looking at Her Majesty’s Revenue and Customs (HMRC), the tax office website!

A good time to remind you about National Insurance (NI) and the State Pension.

 

Don’t switch off, this is the best investment you will ever make!

 

£148 gets you £6000-8000 a year, once you reach the right age.  For the rest of your life.

That is a fantastic investment.

 

Yes I am talking about the state pension and what you are entitled to.

 

At the moment they are transitioning how they treat self-employed people.

 

There is a window of opportunity.

 

You have always been able to back pay National Insurance up to 6 years, for years you have missed.

 

Currently it costs you £148. Next April it is likely to cost £730 per year.

 

So this is a great time to do it.

Go to the Gov.uk website or Call 0345 3000 168 for a pension statement

 

If you not sure because you have been part-time, a mum or out of the country – DON’T IGNORE IT, or worry about it – GET A STATEMENT and find out what the situation is.

You can decide from there.

 

Well worth looking into – the best investment you might ever make.

 

All the best, Jenny

 

 


2. How to Be Your Own Business Adviser – The Money

 

2. How to Be Your Own Business Adviser – The Money

Who Are Your Best Customers?

It seems like an obvious question and often people tell me. But when I look at their figures, I find the answer is something different to what they thought!

 

Quite interesting. (see my post on logic and intuition in business for why this happens).

 

Today what I would like you to do is to look at your figures and find out who your best customers are?

 

What I mean by BEST, is the people who pay you the most money, over a period of time.  Whether it is a week, a month or a year.

 

Often I find it is the quiet ones.  The ones you don’t really think about?  They pay you regularly, on time, enjoy what you do and refer you.

 

Those are the customers we are trying to find.

 

Look at your figures and add up how much each customer pays you – you will be surprised at the totals.

 

If you don’t have figures, don’t worry about it.

I have a 15 minutes bookkeeping course, that will talk you through how to set up your books.

 

My name is Jenny Bracelin, thank you for watching.

 

 


Don’t forget to Be your boss!

How to set a simple money goal you can actually achieve.

In our house, if we achieve our money goals, plus a little extra, then we get a take-away. Otherwise we have to cook.

 

Take aways might not be your reward?  Giving yourself free or low cost rewards on a regular basis is extremely motivating.

 

If you work for yourself and don’t have a boss.  No one else is going to give them to you, so you need to do them for yourself.

 

Today we are talking about goal setting.  Whether you call it dreams, targets, promises, whatever word motivates you, it doesn’t really matter.  It is about setting a simple weekly goal, that’s achievable, possible but a little bit of a stretch.

 

For example, if you are just starting up, setting the monetary amount of one client a week is probably enough.  Or if you sell products, if you are selling 10 a week, make it 12.  Quite often it is about consistency, achieving that money target week in, week out.

 

When you do, give yourself that little reward.

 

Why do it that way? Particularly if you know that target is not enough to live on.  But you need to start somewhere. Starting now with a weekly target, builds that money goal achieving muscle.

 

Plus it puts you in a really positive frame of mind.

 

When you are feeling positive about money, it makes a huge difference.

 

You can change it in the future as your business grows.

So think about it, on a Friday you might be thinking, I haven’t quite reached my goal.

 

It can be quite fun, thinking how am I going to reach my goal and the satisfaction of achieving it.  Or if you have had a really good week, having the afternoon off and enjoying yourself.

 

If you would like to talk about setting your money goal, or money generally?  You can book an appointment with me for a 121 consultation, either via Facebook or my website.

Thank you

Jenny

Entrepreneur, Business Adviser, Money Coach

 

 

 


Where Does All My Money Go?

Where Does All My Money Go?

Ever wondered why, no matter how much you earn, there is never enough for you?

 

Well I am going to explain that today.

It’s funny, once we set up a standing order or a direct debt, we kind of forget about it.

 

What we actually spend half our money on is what I like to call “essentials”  water, food and shelter.

 

Once we have set up that direct debit for our mortgage or rent.

We come home, transport ourselves somehow magically.  Lay our heads down knowing we have somewhere warm and dry to sleep, somewhere to wash ourselves, wash our clothes, cook a nice dinner, even plug in our phone to charge.

Yes that does take up about half our money, 50%.

 

Personally I think it is a good investment, but I do my best to keep the costs down.

 

In America, that is one of the reasons for ‘Tiny Houses’ where people say no, I don’t want to spend that money on housing, I want to spend it on travel and technology, but it is your choice.

 

What about the rest of our money?

 

Well on one hand, half of that, 25% goes on debt payments or savings, depending on your personality.

 

The other half, 25%, goes on things we get really excited about.

I am talking days out, I am talking delicious food, I am talking getting together with the family, birthday presents, Christmas, holidays, even just a decent phone.

And we are not even talking vices, wine, chocolate, smoking, or whatever else you do?

 

Maybe that explains why, no matter what you do, this is only 25% of your after tax income.

That’s why it never seems to stretch as far as you hope it will!

 

So hopefully that answers the question, where does your money go?

If you would like some help, message me on Facebook, or book one of my workshops on Money Mastery.

 

Thank you for watching, Jenny

 

 


What Do I Need to Do at the End of the Month?

 

What to do at the end of the month?

 

People spend hours worrying about money. It really isn’t necessary.

The first thing to do is to get reality.

 

To find out what is actually happening and that is what we are talking about today.

 

The first thing:

Add up all the money that has come into your business.  All the money in.

The second thing:

Add up all the money out from your business. All the costs.

Yes the third thing:

Take away the money out from the money in, so you are left with the difference.

Hopefully it is profit.

If it is not, don’t panic, at least you know the figures and you are out of denial.

 

Otherwise you are just loitering in denial and suffering!

 

Working out your figures, is the first step.

 

Then if you want to be a bit more sophisticated.

 

  1. Ask yourself what worked this month? What brought the money in?
  2. Or what didn’t work, what did I spend money on, that was more costly than I thought?
  3. You can then decide what you are going to do differently next month.

 

Also the perfect time to make sure everyone has paid you and you have paid all your bills.

 

Plus can you cover your bills for next month?

 

So it is quite simple and usually takes less than an hour.

 

It doesn’t matter whether you are doing it on a calculator and the back of an envelope or you have a sophisticated accounts system.

 

I don’t really mind as long as you know those 3 figures.

 

Your money in, your money out and the difference.

 

That’s it for this month, at the end of the month, enjoy.

For help with simple bookkeeping

 

All the best, Jenny

 

 


Why You Resist Saving Money?

Why do you resist saving money?

An interesting question, that I have had lots of questions on this week, so I thought I would do a blog on it.

It is not just saving money we resist, but we resist change generally.

We are really happy in our comfort zones.

It takes a lot to get us out of those and in to doing something new.

 

For example, I was really happy paying £30 a month for my mobile phone and have done so for many years, more than 10 years.  It was only when I started paying £38 for my new iphone, I was bit uncomfortable.

Then a friend said to me, she only pays £5 and I was “she is tights”, she’s not.

Or “she probably doesn’t have data” she does.

 

Instantly, I didn’t want to admit that maybe I could have got a better deal and it was my loss and not hers.

It wasn’t till I lost the signal on my mobile phone and couldn’t hear people, that I actually did something about it!

 

Even noticing they charged me twice for one month didn’t do it.

In less than an hour, I have managed, with the same supplier to get a better deal, improve the quality of the call, for more data, text and calls that I have ever used for £5 a month.  I was amazed.

Not just that, I got £60 refund, which effectively meant the first year was free.

 

A few years later,  I am still paying £5 a month, saving £300 per year.

 

I haven’t had to review it every year, which is always nice but I realised other people are missing out.

I wanted to let people know that it is possible with the internet changing so fast, to save 100’s of pounds on those bills, you think you have to pay, as opposed to those things you want to pay.

 

So my challenge to you “How much can you save?”

 

I would love to hear how much you have saved.

 

I also know you need to be moved from that state of comfort to discomfort, in order to have it happen!

 

So I have scheduled a workshop in 3 weeks time, on Saturday 15th July.

If you haven’t saved at least £100 by then,  come to the workshop.

I will motivate you and actually help you do it as part of my Money Mastery Workshop.

 

I really want us to spend our money how we choose.

 

Whether that is paying off debt, going on holiday or just a really nice day out?

Save the money on things you are not really interested on buying but you have to!

 

Here’s the link to the Money Mastery Workshop.

Thank you very much for watching, Jenny

 

 


3 Things I Learned Going on Trips with Smart Phone Travellers.

 

3 Things I Learned Going on Trips with Smart Phone Travellers.

 

1 It’s a holiday, don’t plan on working.

I had grand plans to record videos but once in holiday mode, even checking emails was a chore.  Enjoy your holiday or trip, there is plenty of time to work, before and after.

 

2 Trips are about enjoyment not money.

Shopping at food markets and travelling by local buses enriched our experience. Surprisingly, £20 a day was doable and reminded me of my younger days, backpacking.

 

3 Set up a data allowance on your phone before you go.

Which direction? Was quickly answered using google maps and so convenient.  Plus being able to check what’s on, opening times and to let people know where you are.

Incredibly handy.

 

Bonus tip – only take the essentials

And check airline luggage rules, as they keep changing!

Have a wonderful summer.

Jenny

Photo is Lake Cuber in the mountains of Majorca


Fight or Flight with Money?

Fight or Flight Response

 

I thought people don’t normally consider the Fight or Flight response and money?

It is all about the resources, we feel we don’t have and feel threatened about.

 

So that call from the bank?

We ignore it or go, right, I am going round there to deal with it now – which is flight or fight.

 

What is the flight or fight response?  I have a little sum up here, as I think we all know.

 

“Stress is a biological and psychological response, experienced on encountering a threat, we feel we do not have the resources to deal with. ” Quote and picture by Simple Psychology

 

When you get in a life threatening situation, you do need to take action and that’s why we have this wonderful thing.

 

But when it is your ego that is in danger of dying and not your physical body, we need to come up with a new strategy, particularly when it comes to money.

 

I think the most extreme thing I have ever seen someone do in a Fight mode is buy a house they have never seen at an auction.  They just got carried away with the auction – it was like “I must have it”.  Fortunately it was only £60,000 but I can’t imagine what state that house was in?

 

On the Flight response, I have been round to people’s offices who have years’ worth of unopened bank statements, they can’t bear it and are “la, la, la, la, la”..

 

Bank statement, balances, paperwork – la, la, la, la, la, with their fingers in their ears, that’s the flight response.

 

When we get stressed, we find it very difficult to deal with, if we deal with it at all.

Often we don’t make great decisions.

 

I wanted to draw your attention to this fact, so you can make better decisions. 

 

Be in control of your money, rather than have this human response be in control.

 

Everything can wait one minute, nothing needs to be done that second.

We can all wait a minute, especially when it comes to the ego. 

 

If you know you are making a decision and you are hot, sweaty and panicky about it.

 

Take a minute and ask yourself “am I doing this because I am ‘fighting’ or ‘flighting’ or am I doing this, because I have thought this through and it really is a sensible thing to do.

We are not going to go into the relaxation response, which is the best way to deal with it.

 

This is the awareness stage, to start noticing you are doing it.

 

Then breathe, long slow breaths to calm down your heart rate and lungs and relax in the chair.

That’s where we are going to end up, nicely relaxed about money.

 

 

 


Money Goals that Motivate

 

Money goals that motivate and bring clarity to your situation.

So in our house, if we achieve our money goals plus a little bit extra, then we get a take-away, otherwise we have to cook.

Take-aways might not be your reward but actually giving yourself free or low cost rewards on a regular basis is extremely motivating.

 

If you work for yourself and don’t have a boss, then no one else is going to give them to you.

You need to do them for yourself.

So today we are talking about goal setting and whether you call it dreams, promises, targets, whatever, it doesn’t really matter.

What we are talking about today, is setting a simple weekly goal.

 

A simple weekly goal that is achievable, possible but just a little bit of stretch.

Just a little bit of stretch so you can achieve it.

 

For example

  • If you are just starting up setting the amount of a client, the monetary amount of one client a week is probably enough.
  • Or if you sell products and you are selling 10 a week, make it 12.
  • Often it is about consistency and achieving that money target, week in week out.  When you do you get that little reward.

 

So why do it that way?

 

I know that you might think, I can set that target but that’s not enough.  Actually you need to start somewhere.

Starting now with a weekly target builds that money goal achieving muscle.

Plus it puts you in a really positive frame of mind and when you are feeling positive about money, that makes a huge difference.

You can change it in the future if you want, well you hopefully you will once you go through those targets.

 

Think about it on a Friday night, or Friday you are thinking, oh I haven’t quite reached my goal.

 

It can be quite fun thinking how am I going to reach my goal?  Then the satisfaction of achieving it or looking at why not?

 

Or if you have had a really good week, having the afternoon off and enjoying yourself.

 

So if you would like to talk about setting your money goal, you can book an appointment with me for a 121 consultation either via Facebook or my website

Thank you for watching.

 


I Have Done My Tax Return, Now What?

I have done my tax return, now what?

 

So the first thing to do is to congratulate yourself.

 

Completing your tax return, or doing the figures, is an accomplishment to be celebrated.

 

So Congratulations.

 

Secondly, grab a nice cup of tea or whatever your prefer, get your figures out and have a look at them.

 

So what we are looking at, is from a numbers perspective.

You know how the year went, you were there.

Now we are looking at, what was the result of all that, in numbers.

 

If you get your figures out and look. What worked? What went well? What made money?

 

Second question, what didn’t work? What didn’t make money? What did you think was going to work but didn’t?

So essentially, What worked? What didn’t work?

 

Lastly, now you know that.

What are you going to do differently this year?

That can be really useful to look and one of the reasons to do your tax return in April.

 

What would you do differently this year, having looked your figures?

 

The very last thing to do, is to take your figures and put them conveniently in a file. I have one here marked tax.

 

The idea is to put your figures somewhere you can find them.

 

The other thing I do for the more advanced users is at the front of my file, I list how much tax I have to pay, so I know in January.

Also so I can look at a glance how much tax I have paid over the last few years. It is really handy.

 

That’s it, Congratulations.

 

Doing this now will save you so much time and money next year.

 

Thank you for watching.