Lawrence Tam

Funny dude who grew up in Houston, and retired from Mechanical Engineering at the age of 33. Has 3 kiddos and happily married and marketing full time since 2012. Learn how to take control of your life and health through a simple challenge to keep you healthier one day at a time - Click Here to Learn More.

How to Budget and Save Money on a Budget

It seems that everyone out there is asking how to budget and save money now days but what are the best ways to do so.  Hopefully some of these tips and techniques I have rounded up help you stay on top of your budget and save the money that you need. Start buying your items in bulk to save yourself some cash in the long run.

 

How to budget and save money – Planning

A lot of bulk stores are around that will allow you to save money in the long run on items that you are going to use. I always tell my friends that if they are struggling to make a rent or house payment then they probably shouldn’t go out and try to buy or lease a new car. When you are on a tight budget you have to do everything you can to save yourself money and that includes not taking on another payment that you may or may not be able to make. See, learning how to budget and save money is something that needs to be practiced in all walks of life. If you need a new car then try to find a good used or pre owned model because it is going to be cheaper and they are often just as dependable. A brand new car off the lot is definitely not the answer on how to budget and save money.

You honestly wouldn’t have to budget your money so strictly if you were just making more income, but sometimes that is harder for some than others. However, if you make money online as a side job it can often help you stay on top of your finances and still be able to do the things that you love to do. Online marketing has become the way that I make my income full time and if you are just looking for something on the side this would be perfect too.

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By Lawrence Tam, ago

Ways to save money on a tight budget

It is no surprise that we all want ways to save on money, especially in this wavering economy. I have heard and seen a whole slew of different money saving tips and tricks over the years and if you are looking for some, these tips and techniques may help you out.

First off, if you are frequently going out to concerts, clubs bars or movies then you may want to consider cutting back on some of that in order to save on money. Shoppers are always people looking for ways to save money on a tight budget but really all they need to do is cut back on their shopping habits. For the serious shoppers you have to wean yourself off of the addiction by shopping at thrift stores, on days with deals or avoiding any shopping temptation all together.

Even with this electronic world we live in there are only about 4 hours of television being watched each day in the average household. Getting out and enjoying free and fun activities can be one of the best ways to save money on a tight budget you can find like going hiking, walks in the park, jogging or even free public workouts in the park where available. Plus, saving money on a cable bill will definitely help you save some money at the end of each month. (more…)

By Lawrence Tam, ago

Disadvantages of Outsourcing?

We often hear about the advantages of outsourcing, but you also should be aware of the disadvantages of outsourcing as well. Any business owner that is considering outsourcing some functions over to someone else should be aware of both the good and bad points of outsourcing. Sure, many will tell you not to focus on bad things but rather to think positively. However, if you want to use outsourcing to its full potential, then you also need to be aware of the disadvantages of outsourcing.

 

Some of the Most Common Disadvantages of Outsourcing

According to many small business owners that I have spoken to, here are the most frequent disadvantages of outsourcing that were mentioned by them:

Loss of complete control over your business

When you outsource part of your operations to an external provider, you are no longer in full control of that aspect of your business. For example, if you have someone else call leads on your behalf, they will be doing the calls and not you. Therefore, you will not be in direct control over what happens on every call that they make.

Issues of quality

Quality is something that is often talked about when disadvantages of outsourcing are discussed. Can you really be sure that the company or person that you will be hiring will do a good job? Will they follow your instructions accurately and complete the work on time, just like you've asked them to? These are all very important questions that those who outsource frequently ask themselves. After all, you do not want your business to suffer because of an outsourcer that did a poor job. (more…)

By Lawrence Tam, ago

Company Layoffs – HSBC Announces Thousands

I definitely was not surprised at the announcement of a record number of company layoffs but when the HSBC claimed that about 30,000 layoffs were set to occur by 2013, I was a little taken back by the amount of layoffs. The HSBC is pretty much the World’s bank when it comes to financing, mortgages and just about any other type of financial transaction worldwide. Even though the bank has seen an increase in the percentage of their sales they have still already let go about 5,000 employees!

Throughout the world HSBC has almost 300,000 employees so that is why some are seeing this company layoff a small amount in contrast to the total amount of people working for HSBC. However, any kind of company layoffs are never easy and can put thousands of people out of work and more.

When it comes down to which departments are getting cut, I can’t quite give you that information yet. Why not? Well simply because the representatives of HSBC are not willing to disclose that information and are simply telling us that the cuts will be made inevitably somewhere throughout the company.

 

Why Company Layoffs Hit So Hard

We all have families, bills, expenses and lives to live and that all requires money. I feel for the next 25,000 employees who are said to lose their positions with HSBC in the next couple of years. This is actually a prime example of why I chose to make money online rather than with an unstable financial institution. HSBC really got hit hard back in 2003 with the housing market started to take a turn for the worse and while they are seeing some slight improvements today, they are nowhere near where they used to sit in the financial tower. (more…)

By Lawrence Tam, ago