The foundation of our system is strategic spending. Most of us know how much we earn each year, but have no idea what we spend the money on. Like every successful business, we need to constantly monitor income and expenditure while also ensuring that we are making a profit, in other words, saving some money.
The idea of a strategic spending is to divide your hard earned income up into small, easily controlled bundles. The first bundle taken out should be savings, a minimum 10% of your gross
I had to laugh...
<!-- Begin check for Blog Icon -->
<!-- End check for Blog Icon -->
<!-- Begin check for Teaser Toggle -->
<div class="field-item"><p>I stopped for gas today at a Shell gas station and had to chuckle as I filled up my car.</p><p>A sign on top of the pump urged me to sign up for a Citi Mastercard that gives 10 percent back on all Shell gas purchases. On the sign, in big, black type, the sign says "Earn 38 cents/gallon." Then underneath it in much smaller print, the sign says, "@ $3.82/gallon."</p></div>
<div class="node-blog-teaser-footer">
<div class="node-blog-teaser-comments"><a href="http://projects.newsobserver.com/taking_stock/i_had_to_laugh#comment"><img src="http://www.newsobserver.com/images/front_new/icon_discussion.gif" width="11" height="7" border="0" /> Comments (0)</a>
<!-- If permissions, display edit link at end of teaser -->
<!-- End edit link code -->
</div>
</div>
<!-- End check for Teaser Toggle -->
<!-- BEGIN AUDIO ATTACHMENT CODE -->
And in more restaurant news...
<!-- Begin check for Blog Icon -->
<!-- End check for Blog Icon -->
<!-- Begin check for Teaser Toggle -->
<div class="field-item"><p>Raleigh's Rocky Top Hospitality has reopened its Michael Dean's and Bogart's restaurants for lunch service during December. Both had gone to evening-only hours this past summer. Michael Dean's on Falls of Neuse Road in Raleigh is open for lunch through Dec. 24. Bogart's on Glenwood South will be open for lunch through the 19th. Both are serving from 11:30 a.m. to 2:30 p.m. daily.</p></div>
<div class="node-blog-teaser-footer">
<div class="node-blog-teaser-comments"><a href="http://projects.newsobserver.com/taking_stock/and_in_more_restaurant_news#comment"><img src="http://www.newsobserver.com/images/front_new/icon_discussion.gif" width="11" height="7" border="0" /> Comments (0)</a>
<!-- If permissions, display edit link at end of teaser -->
<!-- End edit link code -->
</div>
</div>
<!-- End check for Teaser Toggle -->
<!-- BEGIN AUDIO ATTACHMENT CODE -->
Urban Food Group expanding to Charlotte...
<!-- Begin check for Blog Icon -->
<!-- End check for Blog Icon -->
<!-- Begin check for Teaser Toggle -->
<div class="field-item"><p>Raleigh's Urban Food Group is expanding to the Queen City. The company behind Porters, Frazier's, Vivace and the newly opened Coquette in North Hills is planning a new Vivace location at 1100 Metropolitan Ave. The restaurant will open in the summer.</p></div>
<div class="node-blog-teaser-footer">
<div class="node-blog-teaser-comments"><a href="http://projects.newsobserver.com/taking_stock/urban_food_group_expanding_to_charlotte#comment"><img src="http://www.newsobserver.com/images/front_new/icon_discussion.gif" width="11" height="7" border="0" /> Comments (0)</a>
<!-- If permissions, display edit link at end of teaser -->
<!-- End edit link code -->
</div>
</div>
<!-- End check for Teaser Toggle -->
<!-- BEGIN AUDIO ATTACHMENT CODE -->
Save on flowers...
<!-- Begin check for Blog Icon -->
<!-- End check for Blog Icon -->
<!-- Begin check for Teaser Toggle -->
<div class="field-item"><p>If you need to send flowers this week, 1-800-FLOWERS is offering free shipping or no service charge when you pay with a MasterCard and use the promotion code M33. But the offer is only good through Sunday.</p></div>
<div class="node-blog-teaser-footer">
<div class="node-blog-teaser-comments"><a href="http://projects.newsobserver.com/taking_stock/save_on_flowers#comment"><img src="http://www.newsobserver.com/images/front_new/icon_discussion.gif" width="11" height="7" border="0" /> Comments (0)</a>
<!-- If permissions, display edit link at end of teaser -->
<!-- End edit link code -->
</div>
</div>
<!-- End check for Teaser Toggle -->
<!-- BEGIN AUDIO ATTACHMENT CODE -->
OpenTable for iPhones...
<!-- Begin check for Blog Icon -->
<!-- End check for Blog Icon -->
<!-- Begin check for Teaser Toggle -->
<div class="field-item"><p><img src="/sites/projects.newsobserver.com/files/images/iphone3sm.thumbnail.jpg" alt="" hspace="7" vspace="7" width="83" height="100" align="left" />If you use the OpenTable Web site to make restaurant reservations, you might be intested to know that there's now a free OpenTable app for iPhone users.</p><p>The system will allow users to check real-time availability in restaurants, make reservations and get directions. Find out more on the OpenTable Web site <a href="http://www.opentable.com/mobile/">here</a>.</p></div>
<div class="node-blog-teaser-footer">
<div class="node-blog-teaser-comments"><a href="http://projects.newsobserver.com/taking_stock/opentable_for_iphones#comment"><img src="http://www.newsobserver.com/images/front_new/icon_discussion.gif" width="11" height="7" border="0" /> Comments (0)</a>
<!-- If permissions, display edit link at end of teaser -->
<!-- End edit link code -->
</div>
</div>
<!-- End check for Teaser Toggle -->
<!-- BEGIN AUDIO ATTACHMENT CODE -->
Walgreens prescription coupon...
<!-- Begin check for Blog Icon -->
<!-- End check for Blog Icon -->
<!-- Begin check for Teaser Toggle -->
<div class="field-item"><p>If you missed the coupon that ran in the paper a few weeks ago, Walgreens has put its new prescription transfer coupon online as well. The deal is that you get a $25 Walgreens gift card when you transfer your prescription to a Walgreens pharmacy. These coupons can be a great way to get a little extra if you have a monthly prescription that you fill. However, I always caution people that this is not a good strategy if you take several medications that could have weird interactions. Fair warning. You can find the printable coupon <a href="http://walgreens.shoplocal.com/walgreens/Default.aspx?action=detailbrowselarge&storeid=2504303&title=$25+Walgreens+Gift+Card+&img=http://akimages.crossmediaservices.com/dyn_li/600.0.90.0/Retailers/Walgreens/081012_01DD_1CPN.JPG" target="_blank">here</a>.</p></div>
<div class="node-blog-teaser-footer">
<div class="node-blog-teaser-comments"><a href="http://projects.newsobserver.com/taking_stock/walgreens_prescription_coupon#comment"><img src="http://www.newsobserver.com/images/front_new/icon_discussion.gif" width="11" height="7" border="0" /> Comments (1)</a>
<!-- If permissions, display edit link at end of teaser -->
<!-- End edit link code -->
</div>
</div>
<!-- End check for Teaser Toggle -->
<!-- BEGIN AUDIO ATTACHMENT CODE -->
Tree lighting in Clayton...
<!-- Begin check for Blog Icon -->
<!-- End check for Blog Icon -->
<!-- Begin check for Teaser Toggle -->
<div class="field-item"><p>In Clayton, the Christmas Village & Tree Lighting is happening tomorrow (Thursday), beginning at 6 p.m. The tree lighting will take place just before 9. If you are interested in going, there's a schedule of events <a href="http://downtownclayton.blogspot.com/2008/12/2008-christmas-village-tree-lighting.html" target="_blank">here</a> and a map <a href="http://downtownclayton.blogspot.com/2008/12/map-of-christmas-village-tree-lighting.html" target="_blank">here</a>. And, if you happen to live in the area, you should know that Main Street will be closed from Smith Street to O'Neil Street between 5:30 p.m. to 9:30 p.m. for the event.</p></div>
<div class="node-blog-teaser-footer">
<div class="node-blog-teaser-comments"><a href="http://projects.newsobserver.com/father_of_the_bride/tree_lighting_in_clayton#comment"><img src="http://www.newsobserver.com/images/front_new/icon_discussion.gif" width="11" height="7" border="0" /> Comments (0)</a>
<!-- If permissions, display edit link at end of teaser -->
<!-- End edit link code -->
</div>
</div>
<!-- End check for Teaser Toggle -->
<!-- BEGIN AUDIO ATTACHMENT CODE -->
How's this for a BOGO deal?
<!-- Begin check for Blog Icon -->
<!-- End check for Blog Icon -->
<!-- Begin check for Teaser Toggle -->
<div class="field-item"><p>Buy one get one free deals are usually pretty good bargains, but most of the time they're on things like cans of soup. It's time to think much bigger.</p><p>Florida car dealers, who have seen sales plummet this year, have taken to offering BOGO deals on vehicles. Seriously! <a href="http://blogs.moneycentral.msn.com/smartspending/archive/2008/07/29/buy-a-gas-guzzler-get-a-second-car-for-free.aspx" target="_blank">MSN reports</a> on one Chevy dealer offering a free gas-efficient vehicle when you buy a SUV or truck. And check out <a href="http://www.universitydodge.com/specials/index.htm" target="_blank">this ad</a> from a Dodge dealer offering a BOGO deal on Dodge trucks. Feel free to place your bets on what the next big BOGO deal will be. Jet planes? McMansions? </p></div>
<div class="node-blog-teaser-footer">
<div class="node-blog-teaser-comments"><a href="http://projects.newsobserver.com/taking_stock/hows_this_for_a_bogo_deal#comment"><img src="http://www.newsobserver.com/images/front_new/icon_discussion.gif" width="11" height="7" border="0" /> Comments (3)</a>
<!-- If permissions, display edit link at end of teaser -->
<!-- End edit link code -->
</div>
</div>
<!-- End check for Teaser Toggle -->
<!-- BEGIN AUDIO ATTACHMENT CODE -->
Here's the deal...
<!-- Begin check for Blog Icon -->
<!-- End check for Blog Icon -->
<!-- Begin check for Teaser Toggle -->
<div class="field-item"><p>If you are a fan of this blog, here's something that may interest you... The News & Observer has started a weekly e-newsletter for women called <strong>Here's the Deal</strong> that compiles information from Taking Stock as well as other N&O blogs. In the newsletter, which is e-mailed Wednesday mornings after Wednesday Deals is posted, you'll find information on deals, fashion, food and more. And as you all are well aware, it pays to be in the know!</p><p>You must be a registered user on newsobserver.com to get Here's the Deal. <a href="http://www.newsobserver.com/heresthedeal/" target="_blank">You can sign up here</a>.</p></div>
<div class="node-blog-teaser-footer">
<div class="node-blog-teaser-comments"><a href="http://projects.newsobserver.com/taking_stock/heres_the_deal#comment"><img src="http://www.newsobserver.com/images/front_new/icon_discussion.gif" width="11" height="7" border="0" /> Comments (1)</a>
<!-- If permissions, display edit link at end of teaser -->
<!-- End edit link code -->
</div>
</div>
<!-- End check for Teaser Toggle -->
<!-- BEGIN AUDIO ATTACHMENT CODE -->
Know an outdoorsman (or woman)?
<!-- Begin check for Blog Icon -->
<!-- End check for Blog Icon -->
<!-- Begin check for Teaser Toggle -->
<div class="field-item"><p>Outdoor superstore Cabela's is offering $20 off orders of $100 or more on its Web site through midnight on Dec. 8 (Monday). Of course, there's always a catch. To get the deal, you need to give up your e-mail address. And by entering your e-mail, you will be signing up for the Cabela's e-newsletter. But it's still a good deal and probably worth it, especially if you are shopping for an outdoorsman or woman. <a href="http://information.cabelas.com/cabelasrebates/offer.jsp?cmCat=email&cm_cat=3964&cm_ven=email-nl&cm_pla=HA-0100&cm_ite=offer.jsp&eid=8451667&cmp=I081203A&seg=AN1&cnt=3964&ctb=offer" target="_blank">Check out the details here</a>.</p></div>
<div class="node-blog-teaser-footer">
<div class="node-blog-teaser-comments"><a href="http://projects.newsobserver.com/taking_stock/know_an_outdoorsman_or_woman#comment"><img src="http://www.newsobserver.com/images/front_new/icon_discussion.gif" width="11" height="7" border="0" /> Comments (1)</a>
<!-- If permissions, display edit link at end of teaser -->
<!-- End edit link code -->
</div>
</div>
<!-- End check for Teaser Toggle -->
<!-- BEGIN AUDIO ATTACHMENT CODE -->
Wednesday deals...
<!-- Begin check for Blog Icon -->
<!-- End check for Blog Icon -->
<!-- Begin check for Teaser Toggle -->
<div class="field-item">
<p><img src="/sites/projects.newsobserver.com/files/images/coupon%20cart-sm.jpg" alt="" hspace="7" vspace="7" width="106" height="160" align="left" />Well, it?s a mighty fine deals week out there! The pharmacies are busy promoting holiday sales, and Harris Teeter has gone all out to promote its latest initiative involving lower prices on several store brand products and an expanded Unreal Deals selection. There are good deals this week on razors, candy and medications, and there are a few good ones that make the item free after rebate or coupon or both.<br /> <br /> And don?t miss the special Walgreens flier in today?s paper, which has a coupon to get $5 in Register Rewards (good like a $5 bill on a future Walgreens purchase) when you spend $25.<br /> <br /> Happy shopping!!<br /> <strong><br /> Deal of the week</strong>: At Harris Teeter this week, Fiber One toaster pastries are three for $5 and there was a 70-cent coupon on Nov. 16. That will double and make those 27 cents a box.<br /> <br /> Click ?Read more? to see the list! And remember, if the store has a loyalty card, you?ll need it to get the sale price. </p> <div class="node-blog-teaser-footer">
<div class="node-blog-teaser-readmore">
<a href="http://projects.newsobserver.com/taking_stock/wednesday_deals_49"><img src="http://projects.newsobserver.com/sites/8830.newsobserver-drupal-projects.apps.prod.nandomedia.com/themes/nao/images/dome_read_more.gif" width="74" height="23" border="0" /></a></div>
<div class="node-blog-teaser-comments"> <a href="http://projects.newsobserver.com/taking_stock/wednesday_deals_49#comment"><img src="http://www.newsobserver.com/images/front_new/icon_discussion.gif" width="11" height="7" border="0" /> Comments (7)</a>
<!-- If permissions, display edit link at end of teaser -->
<!-- End edit link code -->
</div>
</div>
</div>
<!-- End check for Teaser Toggle -->
<!-- BEGIN AUDIO ATTACHMENT CODE -->
Galleries staying open late...
<!-- Begin check for Blog Icon -->
<!-- End check for Blog Icon -->
<!-- Begin check for Teaser Toggle -->
<div class="field-item"><p>If you're a fan of Raleigh's First Friday events, you'll be happy to know that 10 downtown art galleries have declared every Friday in December First Friday and are planning to stay open late for shoppers. Dates include Dec. 5, 12 and 19.</p><p>Most galleries will be open until 9 p.m. Participating galleries include:<br /><br /><strong>Adam Cave Fine Art</strong> - (<a href="http://www.adamcavefineart.com" target="_blank">Web site</a>)<br /><strong>Artspace</strong> - (<a href="http://www.artspacenc.org" target="_blank">Web site</a>)<br /><strong>The Collectors Gallery</strong> - (<a href="http://www.thecollectorsgallery.com" target="_blank">Web site</a>)<br /><strong>Flanders 311</strong> - (<a href="http://www.flandersartgallery.com" target="_blank">Web site</a>)<br /><strong>Lee Hansley Gallery</strong> - (<a href="http://www.leehansleygallery.com" target="_blank">Web site)</a><br /><strong>Lump</strong> - (<a href="http://www.lumpgallery.com" target="_blank">Web site</a>)<br /><strong>M Street Gallery - (<a href="http://www.mstreetgallery.net" target="_blank">Web site</a>)<br />Nicole's Studio & Gallery</strong> - (<a href="http://www.nicolestudio.com" target="_blank">Web site</a>)<br /><strong>Rebus Works</strong> - (<a href="http://www.rebusworks.us" target="_blank">Web site</a>)<br /><strong>Visual Art Exchange</strong> - (<a href="http://www.visualartexchange.org" target="_blank">Web site</a>)</p></div>
<div class="node-blog-teaser-footer">
<div class="node-blog-teaser-comments"><a href="http://projects.newsobserver.com/taking_stock/galleries_staying_open_late#comment"><img src="http://www.newsobserver.com/images/front_new/icon_discussion.gif" width="11" height="7" border="0" /> Comments (0)</a>
<!-- If permissions, display edit link at end of teaser -->
<!-- End edit link code -->
</div>
</div>
<!-- End check for Teaser Toggle -->
<!-- BEGIN AUDIO ATTACHMENT CODE -->
What are people searching for?
<!-- Begin check for Blog Icon -->
<!-- End check for Blog Icon -->
<!-- Begin check for Teaser Toggle -->
<div class="field-item"><p>Google has created a fun Web site that shows what the top 10 searches are in certain categories, including toys, food and cold weather clothes. I totally enjoy the fact that "ugly christmas sweater" made the list. You can <a href="http://www.google.com/landing/holidayshopping08/gifts.html" target="_blank">check it out here</a>. </p></div>
<div class="node-blog-teaser-footer">
<div class="node-blog-teaser-comments"><a href="http://projects.newsobserver.com/taking_stock/what_are_people_searching_for#comment"><img src="http://www.newsobserver.com/images/front_new/icon_discussion.gif" width="11" height="7" border="0" /> Comments (1)</a>
<!-- If permissions, display edit link at end of teaser -->
<!-- End edit link code -->
</div>
</div>
<!-- End check for Teaser Toggle -->
<!-- BEGIN AUDIO ATTACHMENT CODE -->
Saving online...
<!-- Begin check for Blog Icon -->
<!-- End check for Blog Icon -->
<!-- Begin check for Teaser Toggle -->
<div class="field-item"><p>If you like surfing the Web for online coupon codes, you might like <a href="http://www.nytimes.com/2008/11/27/technology/internet/27coupon.html?_r=1&adxnnl=1&emc=eta1&adxnnlx=1228238295-1lXLq8ojvpQ7iAzAS68uBA" target="_blank">this New York Times story</a> on the topic. The story lists several Web sites, including a few of my favorites. Share your favorites if they're not included! </p></div>
<div class="node-blog-teaser-footer">
<div class="node-blog-teaser-comments"><a href="http://projects.newsobserver.com/taking_stock/saving_online#comment"><img src="http://www.newsobserver.com/images/front_new/icon_discussion.gif" width="11" height="7" border="0" /> Comments (0)</a>
<!-- If permissions, display edit link at end of teaser -->
<!-- End edit link code -->
</div>
</div>
<!-- End check for Teaser Toggle -->
<!-- BEGIN AUDIO ATTACHMENT CODE -->
Cashing in your points...
<!-- Begin check for Blog Icon -->
<!-- End check for Blog Icon -->
<!-- Begin check for Teaser Toggle -->
<div class="field-item"><p>I got an interesting press release this weekend from American Express about how more consumers are using their credit card rewards points for holiday purchases this year. I'm particularly interested in this because I've found a lot of people will just sit on piles and piles of points because they don't know how to redeem them or they are waiting to make some huge purchase in the future.</p><p>What are you doing? Have you redeemed points this year, and what did you buy? Or, are you saving up 10,000 points for some big-ticket item? </p></div>
<div class="node-blog-teaser-footer">
<div class="node-blog-teaser-comments"><a href="http://projects.newsobserver.com/taking_stock/cashing_in_your_points#comment"><img src="http://www.newsobserver.com/images/front_new/icon_discussion.gif" width="11" height="7" border="0" /> Comments (4)</a>
<!-- If permissions, display edit link at end of teaser -->
<!-- End edit link code -->
</div>
</div>
<!-- End check for Teaser Toggle -->
<!-- BEGIN AUDIO ATTACHMENT CODE -->
pay, which is transferred monthly into your cash management account. If you leave savings to what is left over, you will always find that there is nothing left over.
The second bundle is your cash management account. This is your daily living expenses for which you normally pay cash, a bit like your pocket money. These are for all non-deductible items. This account is simply accessed by a 24 hour access keycard.
The third bundle is your operations account. This is for those larger amounts which are usually paid monthly, quarterly or yearly by cheque. This account should not be linked to the cash management account (so you cannot access it with your cash management account keycard). We keep the bundles separate. It is wise to use this account in conjunction with a credit card for those occasions when your monthly expenses are higher than the budgeted amount. The card acts as a smoother as next month will be a surplus that can be paid back into the credit card.
The system is linked by the use of the transfer account, into which your pay is banked. From there, periodic payments are set up to transfer funds to all the accounts on the 15th of each month. You should maintain a small float in the cash management account and operations account. The main aim is to accumulate as much as possible in the cash management account and use these funds wisely to create wealth.
Author: Greg Dempsey – Investor/Marketer
