The Budget – The Ultimate Financial Management Tool

A carpenter uses a set of house plans to build a house. If he didn’t the bathroom might get overlooked altogether.

Rocket Scientists would never begin construction on a new booster rocket without a detailed set of design specifications. Yet most of us go blindly out into the world without an inkling of an idea about finances and without any plan at all.

Not very smart of us, is it?

A money plan is called a budget and it is crucial to get us to our desired financial goals.

Without a plan we will drift without direction and end up marooned on a distant financial reef.

If you have a spouse or a significant other, you should make this budget together. Sit down and figure out what your joint financial goals are…long term and short term.

Then plan your route to get to those goals. Every journey begins with one step and the first step to attaining your goals is to make a realistic budget that both of you can live with.

A budget should never be a financial starvation diet. That won’t work for the long haul. Make reasonable allocations for food, clothing, shelter, utilities and insurance and set aside a reasonable amount for entertainment and the occasional luxury item. Savings should always come first before any spending.

Even a small amount saved will help you reach your long term and short term financial goals. You can find many budget forms on the internet. Just use any search engine you choose and type in “free budget forms”.

You’ll get lots of hits. Print one out and work on it with your spouse or significant other. Both of you will need to be happy with the final result and feel like it’s something you can stick to.

Viral Marketing Goes Mobile

Mobile devices, mobile phones and PDA’s are one of the last great frontiers of viral advertisement opportunities. However, we have become experts at filtering everything, our air and water, our e-mail and pop-ups, and our mobile devices as well. We are good at filtering.

The very idea of unwanted advertising streaming through our Blackberries is abhorrent. Mobile devices are the ultimate opt-in medium and, therefore, a great way for marketers to connect with users…if that’s what the users want. “WANT” is the key word here. How should marketers approach the medium?

There are three main ways to achieve this. They are:

1. Offer exclusive content. Anyone can offer ring tones. It’s the unique content, such as exclusive mobile images of new brand concepts, that drives interest and calls them out in other media like e-mail campaigns, newsletters, websites, etc. So a wireless campaign is most effective when it offers exclusive content for wireless devices.

2. Make it useful and timely. Think about what would be handy and helpful to have on a mobile device. Last year, for example, Food Network enabled Sprint customers to download shopping lists for their Thanksgiving dinners. There was a lot of “Sprint-envy” going around among non-sprint customers.

3. Clearly define objectives. Usually, one of two business objectives drives successful mobile experiences: incremental revenue of brand intimacy. On the intimacy factor, a text message usually takes priority over almost any other form of communication. Why? Because we haven’t yet been saturated with mobile spam, and this is what causes us to prioritize wireless messaging over voice.

Mobile marketing has been out there for a while but we marketers have new territory to explore. Video offers fantastic opportunities for engagement. Consumers already bypass their filters for highly useful or entertaining content and will do so for rich exclusive, compelling content.