Sign Up for DailyWorth
FREE daily money tips to your inbox

Sign Up for DailyWorth
FREE daily money tips to your inbox

5 Powerful Ways to Prosper in 2010

By MP Dunleavey Monday January 04, 2010
This post is about planning


illu_2010So many money resolutions are ho-hum (pay off debt! make a budget! floss!). Here, a few fresh steps that will really turn your financial life around this year.
  1. Spend time on your money. It's the most overlooked equation in personal finance: Time begets money. Invest an extra hour per week on your money this year, and you will be amazed (swear) at the returns.

  2. Learn daily. Spend five minutes a day boosting your financial IQ (hint: by reading DailyWorth, you're doing it). In one year—365 X 5 = 1,825 minutes—you will have racked up 30 hours of money smarts.

  3. Snowball your goals. It's tempting to start 2010 by aiming for a big win. Instead, tackle small money goals now, and build momentum toward one or two big ones later in the year.

  4. Live for tomorrow. Researchers believe the brain is hardwired to value present gains—causing many people to shortchange their own futures. Aim to save 20% of your income this year, 1% at a time.

  5. Demand money that reflects your worth. Boosting women's earning power is a core DW mission. Help the cause. Charge more, negotiate harder, up your rates. At the very least, ASK.

Tell us about it: Which step will be hardest for you? Which seems easiest? »
Comments (21)add
feedSubscribe to this comment's feed
Written by Trish, January 04, 2010
Definately step #3 will be the most difficult step for me.
Working for a small company, especially now that money's tight makes it tough enough - plus I'm chicken :)
Written by Lisasam, January 04, 2010
I am working on living a little bit more for tomorrow.
With regard to savings: Is that 20% of your gross or net?
Lisa

Written by Amanda Steinberg (of DailyWorth), January 04, 2010
Hi Lisa, that's *gross. Thanks for asking.
Written by Aspiring Millionaire @ MyMillionairePlan.com, January 04, 2010
As a male reader of your blog, I just wanted to say thank you. I know your blog is for women, but I've learned so much from reading this. Keep up the great work and Happy New Year.
Written by Stacey, January 04, 2010
The step that I think will be the easiest for me this year is to demand what my work is worth, and that is only because it has been the hardest thing for me to do in the past and I'm fed up with working harder than I need to just to be nice! This is the year I make more from less :)
Written by MP Dunleavey, January 04, 2010
@Aspiring--Thank you!

This year, I'm resuming our retirement savings--which I stopped for the last few months of 2009. That's going to be tough for me. I've been enjoying the imaginary extra cash! What's easier: I'm with Stacey. I'm going to keep asking for more money. I got pretty good at it last year!
Written by elizabeth, January 04, 2010
definitely asking for what I am worth in my product. I tend to ask for less because I just undervalue myself. All of my friends tell me so. I tend to SETTLE. I really want to stop doing that and to stop waiting for a magic answer....

thanks
Written by Renee, January 04, 2010
I am a ceramic artist and have always charged too little for my products. At an exhibition in London in December 2009 I was asked to put my prices up. I did and I sold almost everything!! But will it be easy doin it in the future? We will see....
Written by Jill, January 04, 2010
I have a hard time charging what I am worth!!! As a author, speaker, coach and woman, I have pleasitis and feel that I somwtimes give away my services to get the business.
Written by Bianca, January 04, 2010
Step #2 will surely be the most difficult one - I understand almost nothing of economyXD! While step #1 and #4 are the easiest for me, because I already do it:)
Written by Rachael Brooke, January 04, 2010
Steps #3 and #4 will be the hardest. I tend to be a big picture/idea gal and fall short when it comes to planning how I'm going to reach the summit of Mt. Everest when I've never climbed a hill :)

Here's to a new year of tackling the foothills while aiming for the tallest peak!

- Rachael Brooke
Written by Michelle, January 04, 2010
#5 has always been the hardest for me. I've not valued myself enough to negotiate a salary and I struggle with not charging enough for my artwork and freelance research services. However, I will be negotiating a salary for a new job tomorrow and I am determined to ask for more!! #3 and #4 are easiest for me; I already do them. #1 and #2 aren't hard, but I will have to make time to do them and not forget it or push it aside.
Written by Jeanne, January 04, 2010
#4 for sure...our budget is so tight, every penny is counted for...until this economy turns around and my husband finds a job again, we're not going to be able to save anything.
Written by Grace, January 04, 2010
I am working on 3,4 & 5. Focus has been my problem, too many times I have just focused on the current losing sight of the long term.
Written by Laura, January 04, 2010
The most difficult for me will be #5. I've had a hard time pricing my artwork; I tend to ask for less even when I know it's worth more. #1, #2 and #3 seem easier, since they involve taking small steps towards a goal.
Written by Amanda Steinberg (DailyWorth founder), January 04, 2010
For me, 2010 is all about #4. If I could just STOP SPENDING my financial picture would look so different right now.
Written by talia p., January 05, 2010
I think all of these are helpful. Too often I find myself trying to focus on all my money issues and budgeting all at once. If I just spread it out throughout a week and look at one subject at a time, it'll be way less overwhelming. Also, good advice on the getting paid for what you're worth. I've been debating on whether to approach my boss about a raise thats well past due and that last tidbit just pushed me over the edge to go ahead and do it rather than keep debating it!
Written by Rose, January 07, 2010
Love these tips. I have been reading the blog since the end of last year and I absolute love it! I enjoy reading the newsletter everyday as well.
Written by jeannene, January 09, 2010
This is a great list. I think the first item is the most potent for me. Just keeping track increases our money awareness and mindfulness. For the big picture, I have everything recorded on a monthly and annual personal income and expense word document. I wonder what other ways readers are keeping track of their money. I would love to hear.
Written by Abby, January 13, 2010
I got a new job in December - with a 24% pay increase. yay me!
Written by Denise Rahart, January 13, 2010
Spending Time on my money and living for tomorrow will be HARD! I spend a lot of time researching how to manage money, but little time doing it. Time to start acting instead of just reading!
Write comment
smaller | bigger

busy

Show Other Articles Of This Author