CREATING WEALTH STARTS WITH A BUDGET!
"Give a man a fish and you feed him for a day. Teach a man to fish and you feed him for a lifetime". Chinese Proverb
1. Categorize your expenses. Start with broad categories and then move into smaller ones.
2. Using your list of expenses, create two separate budget lists, one for essentials and the other for extras.
3. Review the lists to identify expenses that can be cut.
4. Estimate your monthly spending (use your checkbook, receipts, etc.). Then determine how much is spent on essentials versus extras.
5. Add up your budget essentials list and the extras list separately.
Subtract the essentials total from your monthly income. If you have money left over, subtract the extras total from that amount.
If you still have money left over, great! Look into a savings or investing plan (talk to your bank or a certified financial planner to select the right plan for you). If your extras list takes you into negative numbers, look for more places to make cuts. When it comes to saving pay yourself first!
For those looking to build real wealth we suggest reading:
The Millionaire Next Door by Thomas J. Stanley and William D. Danko
You will learn the seven factors determining who becomes wealthy, the equation to determine what your net worth should be for your age and income, and whether you are a PAW or a UAW.
Tip courtesy of Jeremy White, my tech savvy little brother...mint.com is a must! Mint.com makes budgeting and reaching your financial goals easy! They have been a Money Top Pick, a PC Magazine Editor's Choice, and won awards from Kiplinger's ("Best budgeting site"), The Webby's, CNN Money and more. But they are most proud of the raves from their 6 million users.
For the latest in FOLIAGE nationwide, turn to the Foliage Network. They update their foliage maps every couple days.
Suggestions for enjoying the outdoors and indoors this fall in New England...
Dreaming of the White Mountains? The Franconia Ridge Loop (9 mile hike) is a beauty. It begins in the heart of Franconia Notch and climbs the Falling Waters Trail to the ridge itself which will not disappoint in the view department. You will reach the summits of Lincoln and Lafayette before descending back down. This is a full day and bring a pack with food and water.
Lion's Head in Salisbury, CT (4.6 round trip hike) might have the distinction of being the shortest hike with the greatest views in western Connecticut. Great overviews, Appalachian Trail access, access to Connecticut's highest peaks, waterfalls, woodlands.
Looking for a unique stay? Checkout The Porches Inn at MASS MoCa The heated outdoor pool is delightful! http://www.porches.com/
Traveling this fall on a tighter budget? Checkout airbnb.com where you are sure to find cheap stays in New England and worldwide.
WHERE IN THE WORLD…Salem, MA 
Salem is a residential and tourist city in Massachusetts with a population of over 40,000. It was one of the most significant seaports in early America and is designated as a National Historic Site, which protects the historic waterfront. Today, Salem is known as a mix of important historical sites, boutiques, and Halloween or witch-themed attractions.
Featured notably in Arthur Miller's The Crucible, much of the city's cultural identity is reflective of its role as the location of the Salem Witch Trials of 1692: Police cars are adorned with witch logos, a local public school is known as the Witchcraft Heights Elementary School, and the high school athletic teams are named The Witches.
Salem is no stranger to the small and big screens. In June 1970, the television show, Bewitched, filmed in Salem; in 2008, Bride Wars was filmed here. Currently, Rob Zombie, musician/movie director, is scouting locations here for his latest horror movie, "The Lords of Salem."
In Salem, the Average Year Built for homes is 1919. 49.1% of the population owns a home; 50.9% are renters.
Real Estate data through 07/31/2011:
Zillow Home Value Index = $261,200
Median list price = $249,000
Median sale price = $248,300
Total homes sold in July = 54
PLACES TO GO EVENTS THINGS TO SEE
- Sept 3 to Oct 30 Patriotic Corn Maze Lyman Orchards, Middlefield, CT www.lymanorchards.com
- Sept 17 to Oct 31 Pumpkintown, USA, East Hampton, CT www.pumpkintown.com
- Sept 30 to Oct 31 The Haunted Graveyard at Lake Compounce, Bristol, CT www.lakecompounce.com
- Sept 30 to ??? Major League Baseball playoff games, New York City
- Oct 8 Haight-Brown Vineyard Express, Naugutuck Railroad, Thomaston, CT www.rmne.com
- Oct 8 to Oct 10 International Oktoberfest, Newport, RI www.newportwaterfrontevents.com
- Oct 15 Opening Night for Connecticut Whale, Hartford, CT www.ctwhale.com
- Oct 15 to Oct 16 Wellfleet OysterFest, Wellfleet, MA (Cape Cod) www.wellfleetoysterfest.org
- Oct 21, 22, 28 and 29 Sights and Frights at Mystic Seaport, Mystic, CT www.mysticseaport.org
- Oct 29 to Oct 30 Boston Vegetarian Food Festival, Boston, MA, www.bostonveg.org
CLOSING CONGRATULATIONS: Julie & Tyson Martin and Ray Smithberger!
REMINDER: Do not forget about the 2011 Referral Contest! Provide Chloe Real Estate with referrals in 2011 and you will be entered to win a trip to New York City!
VISIT OUR FACEBOOK FAN PAGE FOR MORE INFORMATION!
