HOW TO BECOME FINANCIALLY HEALTHY

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Financial advice seems to come from everywhere these days: websites, TV shows, expensive advisors.  An ever-increasing selection of investment vehicles is advertised in our magazines and newspapers. We have more options than ever - but has this increase in choice taken away from our capacity to learn and practice simple, sound expense management?  Today’s post goes back to basics and reviews three principles you can use to get your financial health on track.

SPEND LESS THAN YOU EARN

This might seem like a no-brainer, but when’s the last time you took an honest accounting of your expenses and compared them to your income?  Even if you feel you’re in a good position, chances are you could still make a few positive changes. An easy way to know for sure is to use NumReciept’s online expense reporting.  Scan receipts from your purchases for a month, making sure you’ve accounted for mobile receipts received from utility and cable bills you may have set to auto-pay, and compare the total to your income for the month with NumReceipt’s Profit and Loss report.  If you’re unhappy with the result, think about how you might cut down on unnecessary expenses, like going out to lunch every day or canceling TV channels you never watch.


PAY DOWN YOUR MOST EXPENSIVE DEBT FIRST

If you’ve fallen into credit card debt in the past or are struggling with it now, you may have read literature suggesting you paying off the smallest debts first to gather momentum and motivation to keep going.  This strategy may be a great solution for some, but it’s worth keeping in mind that other debts with higher interest rates will continue to accumulate in the meantime.

SAVE AT LEAST 10% OF YOUR INCOME FOR RETIREMENT

Many financial advisors recommend setting aside 10 to 15% of your income for a comfortable retirement, according to CNN Money.  Even if you have student loans or other borrowings, it still makes financial sense to at least deposit the percentage of your salary that your employer will match - there won’t be many other opportunities to earn 100% on your investments!  And of course, the earlier you can start, the better.

We hope NumReceipt can support you in meeting your expense management goals.

 



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FEELING STRESSED - Way to success with your buddy NumReceipt

College life is a stress-free period where you have all the freedom to live your life. This is the time for falling in love, coming out strong after breakups, understanding life and adding incredible episodes to it. It is during this time, we dare to take maximum risks. After school we all came out as naïve people, unaware of the new surroundings and what is in store for us. Yes, the time spent in the university is not only to earn a degree, create an identity for the rest of your life and build your career but also about the cherished friendships.

Andrea and Lisa too became best friends in college. They were so fond of each other that they were just like siblings, born to different mothers. The most common aspect among them was both loved spending money and were shopaholics. After college, they moved on to different cities for work and met occasionally to catch up on their day to day happenings.

An evening at the Café – Stress-free time begins!

It was Friday evening. Andrea had planned to meet Lisa directly after work at Starbucks. While Lisa was still driving Andrea had already managed to reach on time and get a seat near the window. She placed her handbag and scarf on the table and proceeded to order a coffee for herself. Thinking how awkward it is to be the first person to arrive, she went out to check if Lisa had reached and returned back to the cafe. She sat in the Starbucks cafe, sipping her coffee and uploading her receipt in NumReceipt app. A blood-stained knife lay next to her handbag, covered with her blue silk scarf. She was so preoccupied that she was oblivious of her surroundings. Finally, when Lisa arrived, she was greeted by Andrea with a sweet hug. There's no greater feeling than having a unique and unbreakable bond with the person you trust the most where you feel free to be yourself and can speak openly about anything. Engulfed by emotions, the two quickly gave an order and started chatting.


Gradually as the conversation between the best friends developed, Lisa could not believe what she saw. She was stunned to see how Andrea has become conscious of her spending while she was still a spendthrift!

‘Hey, what am I seeing? Is NumReceipt really helpful in controlling your expenses? I am extremely stressed about managing my finances. By the end of the month I still wonder where my money went ‘, Lisa exclaimed.

‘It was exactly my situation before using NumReceipt. But not anymore. It’s awesome Lisa, you just enjoy your Vanilla latte and NumReceipt will do the task of tracking your expenses. It’s as simple as that. You gain so much confidence in your finances that you can happily thank people for their unsolicited advice about managing expenses and move on babe!’ remarked Andrea as she was cleaning her hands with the tissue.

‘What you say makes sense to me. Perhaps I must also try NumReceipt and know how to record receipts, said Lisa, making a mental note.

‘It is no use contemplating. Come on, let us download it on your phone right away – Time is money, my dear friend.’

Amazed by Andrea’s transformation, Lisa too wanted to take charge of her finances and chose to try NumReceipt. She was excited to understand all the features and how efficiently tracking could be done.

‘Hats off to the creator of this app – you have cleared our stress and steered a relaxed way to financial success.’, the girls chuckled and heaved a thankful sigh.

The bloody blue scarf – story continues

Meanwhile, Lisa noticed Andrea’s blue scarf and gushed– ‘Wow what a lovely scarf!’

The moment she picked it up, she screamed in shock. She had seen the knife which quietly lay underneath the scarf. She immediately placed the scarf back in the original position, covering the knife and said – ‘Andrea! We better leave now. RIGHT NOW!’ quietly pulling the scarf and pushing the knife whistling her favorite song. The knife landed safely on the soft carpeted floor right in front of Andrea.

Andrea completely unaware of the happenings told Lisa, ‘hey – I know this is one of your pranks! Stop acting as though you just witnessed a murder here.’

Lisa commanded in an instructive tone - ‘Listen, we are in danger. Don’t look down. I will get my car from the parking lot and we will leave this place as soon as possible.’

It was only then that Andrea saw the knife with a red stain. Unlike Lisa’s reaction, she maintained her composure and said, ‘Hey look! there is a knife here. Let us inform the waitress!’ Lisa who was completely freaked out had already started imagining things and wanted to run away. By this time, Andrea, quite dumbstruck had picked up the knife and continued to further examine it.

Unable to hide her curiosity, Lisa reacted – ‘I think you have gone crazy. What are you doing?!!!’

As though reading her mind, Andrea declared– ‘Hey, don’t worry idiot. The red stain is definitely not blood! It is more viscous than blood’, carefully observing the knife and trying to smell it with reluctance.

‘Hmm…seems like tomato ketchup. Don’t look at me like that! I have no idea how this knife with ketchup landed in our table!’ announced Andrea placing it back on the table. Lisa, though momentarily confounded, regained her composure and spoke – ‘I really don’t understand how you always manage to choose the wrong place to sit.’ giving an accusing look to her friend.

Respond or React

All of a sudden, cameras flashed on Lisa and Andrea just as they did when celebrities passed and the anchor popped up. ‘Hello young ladies, congratulations!!! You have won today’s game. We are the host of a reality show – ‘LIFE – there are many reasons to SMILE’. If you were wondering about the knife, it is a part of our game. We had placed it under your blue scarf when you were away for a moment. We were here to find out if you react or respond’ and shaking hands with Andrea, he quipped – ‘You are the WINNER of the day, madam! Your prize money is 1000$.’ Andrea, still in a daze remembered that she had gone out for some time to check if Lisa had arrived or not. She was still unsure if it were a dream or indeed reality!

The anchor of the show had explained to the girls how Andrea had responded to the situation thrown in front of her by finding out that it was just tomato ketchup but on the other hand, Lisa had reacted like every other person. Thus, they wanted to give the message through their show that in life, we always face stressful situations; every person is a brave warrior fighting his/her battle silently. But the way we respond to these situations makes the difference. When we respond, we do not take the stress on ourselves. However, when we react, we get panic attacks and make things more miserable for ourselves.

Same is the case with finances. When we pause a little and then spend, instead of reacting immediately, we can save for future financial needs.

“So, what are you going to do with your prize money, dear” enquired Lisa, her eyes popping out in excitement.

“Well, give you a treat, invest some money for the future and of course update the details of how the money has been spent in NumReceipt. This way I can easily check and recall my expenses with my receipt tracker app.”

The answer from her friend made Lisa realize one important thing. It is not the questions or taunts from the people around her that causes the stress, but her inability to handle them that causes disturbances. She decided to spend the right way, to keep Calm and trust NumReceipt.

Thanks to her friend who introduced her to NumReceipt. Lisa is now free from financial stress as it has been handed over to her trusted buddy- NumReceipt. She is still a shopaholic, but her finances are now under control due to the presence of NumReceipt app on her mobile. She is no more addressed as a spendthrift.

PLAN B

Attitude is more important than the circumstances than what other people think or say or do. We are in charge of our attitudes. The remarkable thing is we have a choice every day regarding the attitude we will embrace for that day. We cannot change the inevitable. We cannot change our past neither can we change the fact that people will act in a certain way. The only thing we can do is play on the one string we have, and that is our attitude.

Life is 10% what happens to you and 90% of how you react to it. Whenever things don’t work out the way you want, remember that you are the unique person, chosen to handle a specially designed Plan B. Maybe the Plan B is much better and more exciting than your self-made Plan A.’

Trust us to control your financial plans - A, B or C - it can be customized as per your requirements. Choose the best plan suitable for you.

Be it for a small scale business or for your personal expenses, NumReceipt shall always be your buddy - 24*7!

Download today and delete your stress factor forever.






Money, Money, Money

Today’s post is all about money. Well, we can hear you sighing “Money is not everything”. At the same time, none of you would disagree with the fact that “Everything needs money”. Money has become a motivation for mankind- for a better quality of life.

Money – A Peek-a-boo game?

So can we just imagine money as an addictive game – perhaps an adult version of the age-old “hide and seek” game? It gets transferred from one account to another, makes you search and wonder where it went by the end of a calendar month and again drives you to wherever you want to but has no end? All negative emotions like greed, jealousy, and selfishness multiply with it. It is so addictive that it consumes you and encourages you to strive harder to earn more. In the process of earning, you begin to believe that happiness can also be purchased by spending more and it becomes too late by the time you realize where you can find true happiness within yourself – by following your passion, eating your favorite meal with family and enjoying with friends.

Money – A motivational tool?

And now comes to another point – how do you get your favorite meal? Well, money is again the answer. The necessities of life can only be bought with money. The reality is one feels helpless without money. Money is just a tool to fulfill the basic necessities. The moment it becomes addictive it starts ruling you ruining your true happiness.

Relationship status – It’s complicated

Well, the love-hate relationship with money is indeed complicated. We are the proud creators of this complicated entangle. The messy relationship is a result of our ignorance. The truth is money is one of the most misunderstood concepts that has not got its rightful dues.

We can’t see with our ears. Can we? Every part of our body has a distinctive irreplaceable function. They all serve a different purpose. Similarly, once you give money its right value, you can give it the right place in your life.

As long as you let money serve you, life is at ease. The moment you allow money to rule you, things go awry. Making an alliance with money and telling your money where to go instead of wondering where it went and running behind it helps you become a winner in this complicated relationship.

In order to keep this balance in your alliance with money, we would like to help you track your spending, create a budget so that you always remain a master.

There is a Jewish proverb which goes as:

“If a problem can be solved with money, then it is not a problem – it is an expense”.

The more we ponder about this quote, the more sense it makes. As you make an expense and solve your problems with money, we are here to steer, retrace and remember them round the clock. Don’t take chances. We will help you make conscious choices and change your life for good.

Choose NumReceipt, your one-stop for expense management.

https://bit.ly/numrandroid

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Money is Your Oxygen: A Guide for Startup Success


It’s a dream for a number of entrepreneurs to start a business from scratch. Entrepreneurship is the process of planning, developing, launching and running a new business in order to take on financial risks in the hope of gaining success.

Here are the 7 main tips to make your startup successful

Building network : To begin with, it is very important to build a business relationship with other business owners who can help the business grow. Promoting the products with a set of known people can win more customers.

Regular review : Each and every step of the business needs to be reviewed and documented. The business statistics is very important. Company’s performance, payables, cash position and revenue needs to be updated on a regular basis.

Being Vigilant : When you launch a startup you need to keep an eye on all the aspects of the business. Always ask yourself, what is your tolerance for risk? And what is your tolerance for failure? Managing the expenses should be an intrinsic part of the business, small expenses may accumulate and may turn into huge expenses.

Avoiding personal expenses : Personal expenses shouldn’t be mixed with the business expenses. Entrepreneurs need to learn how to allocate their capital to pay expenses and monitor it so that there won’t be shortfall of money.

Overhead expenses :  Scrutinize your various overhead expenses which includes telephone, insurance and utilities. Investigate on the technology that might lower your overhead cost, reduce the cost of interiors, office furniture, gadget and more.

Minimal Inventory : Sparse inventory is beneficial for the small business as it may impede sales. Inventory has to be adjusted on a regular basis as the cash flow depends upon it. Entrepreneurs should update the tracking system on regular basis.

Affordable Marketing: Advertising cost must be reduced, the best marketing is to make the audience to experience your product and turn them into customers. Good reviews and recommendations play a major on digital marketing and can easily promote your product/services online.

Whatever your goal is, have that in mind from day one and work towards that goal. Things may change and shift as time goes on, but having that goal in mind will always help you plan and make decisions towards achieving it. You must have an unshakable belief that you can do it. It is your responsibility to take the necessary actions to achieve your dreams

We, the NumReceipt Team can help in storing your receipts & keep your everyday spending under control in every phase of your startup cycle. Go that extra mile and run your business without any stress, we’ve got you covered.

Visit www.numreceipt.com and download our app now





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