money management Archives | Page 17 of 17

6 Ways to Save Money as a Yoga Teacher

Various people have an impression that Yoga is expensive or that Yoga is only for the elites.

Compared to a monthly gym membership, perhaps Yoga can be considered expensive. Clothes, mats, and other props can be costly. But, if you prioritize the practice of awareness rather than flaunting for fashion then you may find yourself saving a lot more.

As Yoga teachers, you get to immerse yourself deeper in the practice and its doctrines. You become less interested in wastefulness and more interested in conservation. With that in mind, here are 6 Simple Ways to Save Money as a Yoga Teacher…

Image Credits: The Cosmopolitan of Las Vegas via Flickr

1. SAVE ON YOGA TOPS

Jessica Matthews, writer on “American Council on Exercise”, suggests that you can wear a simple tank top a fitted and stretchy t-shirt, or a sportswear top, whether or not they were designed specifically for Yoga. An inexpensive top or shirt can be just as comfortable as the designer ones.

2. MANAGE YOUR INCOME AND EXPENSES

In order for you to decide on how much you shall save, first you must be aware of how much you are spending. The typical things you will track as an expense are costs on training, travel, clothing, and books. The challenge now is for you to choose on which expenses you can reduce.

3. MAKE YOUR OWN YOGA PROPS

Abby Lentz, founder of the “HeavyWeight Yoga classes”, shared some Do-It-Yourself Yoga Props.

a. Yoga Blocks

It is possible to make a handcrafted Yoga Block if you have bulky, unused or old books, yellow pages, phone books, and dictionaries. Just slip a pace of hard cardboard halfway between the pages of the book to make it sturdy and tightly tape the entire areas close.

b. Yoga Straps

You can make your own Yoga strap by knotting two neckties together. You may also use a second-hand bathrobe sash from the thrift shop as branded Yoga straps are just made with cotton straps with buckles.

Image Credits: Roy Blumenthal via Flickr

4. PRACTICE AT HOME

Doing Yoga at home along with a video or audio companion is definitely more cost-effective than attending classes. The Internet has an abundant index of Free Yoga videos, health information, and Yoga poses catalog that you may use.

If your studio benefits include free classes, then take advantage of it. Aside from exercising, you will get a chance to study how different teachers conduct their classes.

5. INVEST IN THE BASICS

Two dollars for a mat and a dollar for bottled water may not seem like a lot, but it will quickly add up over time. Instead of buying or renting cheap Yoga mats, invest on a sturdy one that you can use for a couple of years.

Instead of buying mineral water on the studios you practice, buy a cheap water bottle and refill your own water at home. Through these steps, you will not only be able to save money but you will also be able to reduce waste.

6. Aside from saving money on Yoga, you can also save money through Yoga!

Sources: Yogaanonymous and About.com

5 Tips For Couples with Joint Bank Accounts: Sharing is Saving

Being in a relationship founded by mutual trust may find it natural to create a joint bank account together.

Since you can trust your partner with everything else, why not trust him/her with your own finances?

But, managing this may be difficult especially when there are two people with different buying habits and priorities.

So, here are 5 Tips to Help Couples with Joint Bank Accounts…

1. HAVE SHARED GOALS

Maintain a joint bank account for big financial goals such as vacations, household bills, or insurance. Whatever the purpose and goals may be, be sure to make it unanimous as both of you will contribute each month.

Image Credits: Asher Isbrucker via Flickr

2. CREATE RULES BEFORE OPENING AN ACCOUNT

Have a plan of how each of you will contribute (e.g. 50-50 or 60-40). As said a while ago, discuss the goals and priorities you want to pursue in order to know where the money will go.

3. MAINTAIN YOUR OWN BANK ACCOUNT

Aside from the joint account, each person is entitled to have an individual account. This is because you must treat yourself or your partner personally without affecting the “household money”.

You might say that this burns the bridges of sharing, but not really. The key to having individual accounts is that both would have access to each other’s account in case of emergency so there are no secrets.

4. RECORD AND MANAGE YOUR EXPENSES TOGETHER

Communicate openly about your joint bank account and organize your expenses. Make it a habit to log on to your online banking account to reconcile all your purchases together (i.e., every week or every two weeks). Through this, you will understand how you are spending the money. Make cut backs if possible so you can save more.

5. REMAIN EQUALS

Embody your marriage vows or treat it like a merger between to companies. Everyone has an equal say and contribution to the shared account. This is why setting up rules and agreement before the processing is very important. Through this, you can keep an open eye if one overspends on something you did not agree on.

Image Credits: BK via Flickr

Ultimately, you must respect each other’s decision and communicate openly about your finances. Having a joint bank account may not be easy, but it is possible! Sharing is not only showing Care but it also Saves money.

5 Free Money Management Apps to Increase your Savings

In order to decide on how much you shall save, first you must be aware of how much you are spending.

Expenses can be categorized as either fixed or variable. Fixed expenses remain the same every month or year due to Singapore’s laws and Company service-provider terms (e.g. Hand Phone Plan, or HDB Rent). Variable expenses include food, entertainment, clothing, and other expenses that may change every month or year. The challenge now is for you to choose on which expenses you can reduce.

Recording all your expenses, no matter how big or small they may be, can help you plan your budget wisely. This is why; here are the 5 Money Management Apps for all your devices. Best of all? These are handy and FREE!

EXPENSIFY
(Available on IPhone, IPad, Android, and Blackberry)

Expensify app helps you record your daily transactions, hourly rate, mileage, and generate expense reports. Its SmartScan feature allows you to upload photos or capture your receipts for easy bookkeeping. It also helps you minimize information errors that you may encounter when writing everything down.

Photo Credit: Expensify App via TechTudo
EXPENSE MANAGER
(Available on Android)

Another top rated money tracker in Google Play store is the Expense Manager app. It is raved to be simplistic and very easy to use. You may record the type of purchase, the type of payment, the purchasing price, the company the item was purchased from, and the date. The app also allows you to manage multiple accounts in various currencies, to email account activities, and to save it on your SD card.
MONEYWISE
(Available on Android)

MoneyWise app combines minimalist design with powerful functionality. It may seem minimal but it can do a lot! It allows you to generate charts or graphs, track budgets or spending, and create regular account backups. Conveniently, you may export data in CSV or HTML formats that you may send to others via email.
POCKET EXPENSE PERSONAL FINANCE
(Available on IPhone and IPad)

Pocket Expense Personal Finance app combines all your financial accounts together so it can track all your bills and set your budgets. This app lets you categorize your transactions through its calendar view. It is the perfect way to organize your income and expense because of its user-friendly and simplistic interface. But most importantly, it is password protected.
MINT
(Available on IPhone, IPad, and Android)

Mint app manages your personal finance accounts (credit cards, loan and investment) on one place through your fingertips. With Mint, you can track your spending, develop a monthly budget, receive bill reminders, and save more money. It is also accessible online through its website. What’s more? It sends online alerts if you’ve gone over your budget.

With all these awesome money management Apps, the power to budget and save money is in your fingertips! Make wise money tracking a habit! You won’t regret it.

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