Happy New Year to you all! 2008 can be a time of great personal and professional growth, or it can be a pathetically sad time...thinking and re-thinking about things that went unaccomplished in the previous year.
So many times we witness people who are stuck. Stuck, as in living in limbo land. You may refer to it as being "in a rut", "bored", "uninspired", or any number of negative, self-destructing thought patterns. This relates to personal money management success in a huge way! Saving money, spending it intelligently, and thinking about setting goals is all about being in the here and now (while keeping the future in the foreground of the thinking). Thinking of the past can be horrific, unless you know how to do it correctly. I believe there are many ways to learn and grow, and this is what today's blog notes are about.
I think nearly half the people around think too much - meaning only that I believe we can waste valuable time over-processing something that maybe we cannot even change. People who comprise the "nearly half of the educated world", probably don't think enough - they act quickly and make sometimes critical mistakes that end up costing them money (because they were too busy, or didn't care enough at the time to think something through). These are the people who join a group because someone else did, or because they want a quick fix to a problem they percieve as creting inner-conflict. I have been, the past, someone who took more time than my friends to make a decision, but I am getting better! Of course, that is me talking; "Better than what?" O.K., "I'm better than I was - meaning I worry less." But hey, it's my "supposed problem", not my friends! (LOL) Personally I don't mind waiting a year to buy a new digital camera - I got a great one at a super price because of my hours of research and my patience! I hear people every day sayging things like, "Well I wondered why so and so did that!" I said, "Why ask me? I have no idea, I'm not her." This conversation, steeped in the other person's frustration, went on for 1 minute too long. That was one minute I could have been studying. Jimanneeee cricket.
I spent a great trip over the holidays with a new friend and her parents - wonderful people. Learned and inspiring - each of them. It was interesting watching the family dynamics because I had zero perspective. I learned about patience and understanding from a different view and that got me to thinking about all the workshops I have been blessed to attend that focus on personal and professional growth. This is what I want to discuss with my readers.
How do we learn best? Many of us go to school. After traditional school many choose too keep learning by taking specific workshops, doing online courses, or reading books. When discouraged and not able to keep up with bills and savings, some people take my workshop cvalled, Show Me The Money! re-enforsement - five weeks of "thinking" about money. Taking workshops is how some successful people remain enthusiastic and on track. Some people tout their individual learning achievements, but some do not. I am one of the latter. I have been freed from the need to try to convince others of things I have learned - especially when they have their own strong opinions. But, I do enjoy the talks, and watching them answer questions with more questions - round and round some people go. They often do not really say anything very meaningful. If you don't use their words, or jardon, then they think you can't possibly understand fully. Whatever you say, you may be doomed, because they seem to know the answer before you do. I always wonder how someone else can know more about me, than me? If they didn't know much about my past, how I was raised, how would they possibly be capable of telling me what I should do?... how can anyone teach me to learn to save money, or get my office perfectly filed unless they have spent hours asking me spefic questions and gotten into my head? Do you know what I mean? Some people might say, "It doesn't matter." Who knows - who cares - that is what I say at the end of the day. As one friend says, "It is what it is."
Three of my friends have done the "Landmark Forum." Based upon old Zen ways, "est" principles, and various other newer "coined" methodological terms, the basic principle is to break the participant down so the teacher/coach, can show a person how to rethink things. With a more open mind and fresher slate, some people are more willing to soak things up and look at something differently. A 'dry sponge needs water approach' to learning. Other people, who sometimes confess to being critical thinkers, abhor such workshops; sitting up straight for hours upon end with few breaks, hearing a speaker shouting at them, not being permitted to take notes, is not what they came for. It may simply not be the best learning environment for some people; not for people who learn best by both listening and taking notes and then studying more later. Some people would just assume not open a note pad.
Other workshops that can expand your viewpoint and make you a stronger, more decisive person include learning about Appreciative Inquiry. Confessing to be a gentler way to getting ahead, it focuses on using our imagination and observation skills to discover new found ways, and then re-enforces a passionate sense of potential (I think that is a fancy way for saying "motivation"). AI claims that no problem can be solved from the same level of consciousness that created it. It is not jsut about seeking out and solving problems though. By focusing on positive thoughts AI coachs claim that we can crowd out doubt, anxiety, and fear.
Happiness or misery depends upon our disposition and not our circumstances - this is a saying that many of the "self-help" gurus happen to agree on; how we get "to there" is what they disagree on. You have to be the judge for yourself. Find something that interests you and fits your learning style - only then invest the money in a class or workshop. Now we talking Money 101.
Thursday, January 03, 2008
Monday, July 30, 2007
Practical Money Skills:
Purchases Should Enrich Our Future:
On the way into work this morning, I was listening to my favorite morning zoo guys, and they reminded me of a question we should all ask ourselves before we make a last minute purchase: "Will this purchase truly enrich my life?" Alright, it might sound like an odd question, but think about it, for more than one minute. "Do I really NEED this $35 T-shirt, or would putting $35 into my savings account that earns 4.5% make me feel stronger and more secure in my day-to-day life? Like most things in life, I find myself making several snap purchases each week without really thinking too much about each of them. If I thought for more than a few seconds, I would probably have more in my retirement account, or I would travel and enjoy seeing the world and experience other cultures. Like the morning zoo guys I agree that we should all have more life experiences; learning and growing as a person, laughing and sharing, and seeing the world for ourselves are good things to invest in. So, with this in mind, here are my questions for each of you. Find the question that fits where you are today and then make a promise to yourself to take care of your future beginning this week: 1) Do you have a retirement account? 2) Have you opened up a second mutual fund (so as to diversify your holdings and spread your risk)? 3)Have you begun your retirement account? 4) Have you thought about beginning a mutual find? 4) Would you like to travel, or jump out of a plane, or learn to fly one? 5) Would you like to take a college class, just for the sheer pleasure of it? 6) Would you like to raft down the Grand Canyon, go to a play in NYC, or spend a week in Vancouver next to the ocean? 7) Would you rather have that expensive pair of sneakers (necklace, car, $1800 flat screen TV).....Or would you rather enjoy life, make the purchases you really want which will enrich your life, and maybe retire at an
Here is my advice - don't wait another day, week, or month, and don't put off saving for an emergency and for retirement...begin this week. Make a call to someone who knows 'how to save' - or call a financial advisor and make an appointment - make several appointments - JUST TO GO AND TALK. This is how I began, and this is how everyone begins...by asking questions and learning. Then choose an advisor (whether it is a family member, a friend in the know, or a professional); begin saving today....put aside $10, $100, or $250 to begin with. Whatever you can afford - you don't have to be rich to open a mutual fund. The trick is to simply BEGIN. This is about baby steps - no one begins all at once with all the knowledge they need. This is one of those times when paying for advice can be a really good thing!
Here is my advice - don't wait another day, week, or month, and don't put off saving for an emergency and for retirement...begin this week. Make a call to someone who knows 'how to save' - or call a financial advisor and make an appointment - make several appointments - JUST TO GO AND TALK. This is how I began, and this is how everyone begins...by asking questions and learning. Then choose an advisor (whether it is a family member, a friend in the know, or a professional); begin saving today....put aside $10, $100, or $250 to begin with. Whatever you can afford - you don't have to be rich to open a mutual fund. The trick is to simply BEGIN. This is about baby steps - no one begins all at once with all the knowledge they need. This is one of those times when paying for advice can be a really good thing!
Tuesday, May 29, 2007
The Effects of Consumerism on Your Life:
Maybe a better title this posting would be, "The Effects of Advertising on Your Budget." Over the memorial weekend I was talking to a friend who has been studying up on non-western ways (subjects like Buddism) as a means of simplyfying his life. He explained to me that for many years he was caught up in having "lots of things." He liked to own the latest gadgets. He owned a big home in a nice area, drove a new car, went on great vacations, and enjoyed many things others cannot because he made "really good money." Despite his monetary success, he felt like something was lacking in his life; all these "things" didn't seem to make him feel like he had really "made it" and he discovered that his happiness was not tied to the material things he enjoyed accumulating. With all that said, I turned the topic to consumerism and that is what this posting is about. I would like to remind my SMTM! students, and other readers, that advertisments and salespeople (as dedicated and needful as anyone) are in business to take away your hard earned money. Everyone wants to convince us that we need a newer cell phone (because the one we have is so inadequate - LOL), that we need to see a movie the first week it comes out, and that all good parents take their children to McDonalds to eat weekly. Dollar stores are popping up on every corner, as are payday lenders, and storage facilities! Why? Because they are GREAT businesses that feast on our percieved needs. We buy more stuff (that we often really DON'T need), then we need more money to cover our debts and bills, and lastly we need a place to store all the stuff because we ran out of room to show it off. We have stores for spending, for lending, and then for storing...that's America! A student from Caracus, Venezuela once told me, "Coach, only in America can someone go to a store (like PetsSmart) where everything in it is for animals!" I concur - we have everything we need, and much that we don't. I wonder how many people "think" they can't budget because they "think" they don't make enough money? I want you to consider that advertising affects each of us, more than we know, every day of lives. TV ads and big signs tell us, "You earned the right to drink a $3.75 latte!" The first fix is simple: Take a moment to ponder over what you can do to keep more of your money working for you, than for someone else. Go to David Bachs Latte Facotr site and see how much all your extras add up to - then let the online calclautor show you how much you spend on your extras in a year...and how much it would be worth to you to set that money aside by investing it. This is your challenge - if you don't know how much money you waste, find out! One of my students was shocked to discover that his energy drink fix was going to cost him about $1200 a year. Before you question me, "No, that is not a typo." Yes, advertisers pay big money to hire focus groups (an ordinary group of poeple) who tell the company marketing directors what they need to do to get people to buy their product, even when they know people don't need "a new phone." Why do you think celebrities get all those freebies? Exactly! They get photographed with the newest Coach handbag and then every teenager wants one. Yep, that's how it all begins. Consumerism at it's finest. Personally I prefer to make my own choices, and save the rest of my hard earned money for myself; retiring at 52 sounds like a good plan to me. Do you have a plan for the rest of your life?
Monday, May 14, 2007
Are You Tired?
When we get tired, many things begin to happen, most of which are NOT good! We eat wrong, sleep more (or less), we stress out about little things that probably won't happen, and both our personal and professional livelihoods may suffer. When you are tired, what is the first thing you give up? Is it "doing the dishes", walking the dog, skipping breakfast, or perhaps you buy fast food instead of cooking an actual dinner? Do you skip seeing your family or friends so you can stay home and rest up? If so, then a really important thing to do when you are especially tired is to simply be mindful. Be aware of when you are about to get overly tired, and be prepared!
1) FOOD: Hit the grocery store and stock up on healthy food - prepare them and keep them ready to go so instead of ordering pizza, you will have something ready at home. Keep healthy snacks at your office to combat being tired - if you don't know the ten healthiest snacks, go online and find them. Prep your breakfast at dinner time...and have it waiting for you to take on the run come morning commute time. If "bad dinner food" makes you feel all warm and cozy come nighttime, then make a meatloaf ahead of time (or other comfort food, but avoid anything fried) - this way you will get all the mouthfeel of what you want, without all the extra fat and calories; make sure to add good colorful veggies to your grocery list. Like apples, but don't eat enough of them? Slice them up, add some lemon juice, and keep refrigerated. Fruit and veggies go bad at your house? Buy some "green bags' - they have clay infused into the plastic which absorbs the ethynol gas that causes spoilage (these bags keep things fresh up to 3 weeks - the commercial produce market has used them for years).
2) SLEEP and EXERCISE: These two things go hand in hand. I was reminded of this when I saw my girlfriends' husband drag himself into the gym the other morning; recently diagnosed with M.S. at only 37 years old, he has just began taking medication. But the drugs that are supposed to help slow down the progression of the disease have turned him into a walking zombie. Hair uncombed, clothes sitting askew, he was still coming to the gym for 15 minutes on a bike; he knows that the ramifications of not getting up, no matter how tired and awful he feels, is the worst thing to do. I figure if he can get going, so can the rest of us. After work, put on your sneakers, grab a bottle of water, and go for a walk - anywhere! Those extra 10 minutes of time in the outdoors making your heart work a little extra is better than nothing - right? If you plop down too soon, make yourself get up during a TV commercial and walk around the block. Take heed though - exercising too heavily can cause you to not be ready for sleepytime until midnight. About 2-3 hours before bedtime, take a really warm bath. Both exercise and bathing will kick up your core body temp a little bit, which, as your body cools off later on, will induce sleep (BTW...showering wakes you up). Another tip - don't nap if you are not a good sleeper; you are just training your body to want sleep whenever it wants. Set a time and stick to it best you can; develop a routine and your body will respond within 21 days.
If you can eat right, exercise a little, and sleep well, you will find yourself much more in control of your life. Control equates to saving money, and that is why I felt a need to remind you, today, to be ready for those hectic times. P.S. Excuse any typos - my computer is creating a problem for spell check so I'm typing this off quickly without much proofreading.
1) FOOD: Hit the grocery store and stock up on healthy food - prepare them and keep them ready to go so instead of ordering pizza, you will have something ready at home. Keep healthy snacks at your office to combat being tired - if you don't know the ten healthiest snacks, go online and find them. Prep your breakfast at dinner time...and have it waiting for you to take on the run come morning commute time. If "bad dinner food" makes you feel all warm and cozy come nighttime, then make a meatloaf ahead of time (or other comfort food, but avoid anything fried) - this way you will get all the mouthfeel of what you want, without all the extra fat and calories; make sure to add good colorful veggies to your grocery list. Like apples, but don't eat enough of them? Slice them up, add some lemon juice, and keep refrigerated. Fruit and veggies go bad at your house? Buy some "green bags' - they have clay infused into the plastic which absorbs the ethynol gas that causes spoilage (these bags keep things fresh up to 3 weeks - the commercial produce market has used them for years).
2) SLEEP and EXERCISE: These two things go hand in hand. I was reminded of this when I saw my girlfriends' husband drag himself into the gym the other morning; recently diagnosed with M.S. at only 37 years old, he has just began taking medication. But the drugs that are supposed to help slow down the progression of the disease have turned him into a walking zombie. Hair uncombed, clothes sitting askew, he was still coming to the gym for 15 minutes on a bike; he knows that the ramifications of not getting up, no matter how tired and awful he feels, is the worst thing to do. I figure if he can get going, so can the rest of us. After work, put on your sneakers, grab a bottle of water, and go for a walk - anywhere! Those extra 10 minutes of time in the outdoors making your heart work a little extra is better than nothing - right? If you plop down too soon, make yourself get up during a TV commercial and walk around the block. Take heed though - exercising too heavily can cause you to not be ready for sleepytime until midnight. About 2-3 hours before bedtime, take a really warm bath. Both exercise and bathing will kick up your core body temp a little bit, which, as your body cools off later on, will induce sleep (BTW...showering wakes you up). Another tip - don't nap if you are not a good sleeper; you are just training your body to want sleep whenever it wants. Set a time and stick to it best you can; develop a routine and your body will respond within 21 days.
If you can eat right, exercise a little, and sleep well, you will find yourself much more in control of your life. Control equates to saving money, and that is why I felt a need to remind you, today, to be ready for those hectic times. P.S. Excuse any typos - my computer is creating a problem for spell check so I'm typing this off quickly without much proofreading.
Thursday, March 29, 2007
Improve Your Credit History and FICO Score
Tired of a VISA rate of 18%? Want to be eligible for low home mortgage rates and 7% credit card interest rates? The first step might be to become better organized so bills get paid on time. In addition, there are many other things you need to do in order to qualify for the best loans and interest rates. Take steps now to improve your credit history. As of early 2007, 5000 college students will be able to obtain their FICO score for free. On the same Web site, I found all the steps ANYONE needs to take to make themselves look better to a lender. Click on: http://www.whatsmyscore.org/
Learn and Grow: PracticalMoneySkills.com
When I find a great Web site, I want to share it with my readers. This time it's http://www.practicalmoneyskills.com . Years ago, it wasn't much to look at. Now it's jam packed with plenty of well written, basic, step by step lessons. You'll be learning something new and applicable every week! Take some time and scour this website. There are lots of different lessons and categories; make sure you sign up for the free newsletters. Eventually you will graduate onto another site that is a little more complicated and advanced. Or, maybe you will do like I do, which is to spend a few minutes every day exploring Yahoo Finance and MSN Money - then, maybe like me, you will get inspired and then google a specific topic to find out more. (LOL) O.K., so the few minutes turn into an hour - but HEY!...at least it's not wasteful time. This is what learning is all about - exploring. We wander around the Internet, looking for the best information, researching, wanting more encouragement and motivation... all the while discovering new ways to make our money work better for us! Yes, baby steps always lead to something bigger and more challenging. This is the way we learn as children, and this is the way we grow as adults - some things never change.
Thursday, March 15, 2007
"The Secret" and The Law of Attraction:
In 2006 a friend turned me onto the DVD called The Secret. It's all about the Law of Attraction which states that whatever you put out in the universe you will get back. Some people explain it by saying that in order to accomplish a goal you need only to ...."Think and Believe to Achieve". Last year copies of the DVD were sold without mass marketing; the lady who read coined the term "The Secret" is a marketing genius. She studied and became a real believer that "we are what we believe". She took a concept from hundreds of years ago, updated it, and created something huge. Recently, Oprah devoted two days on her show to The Secret, and today you find the DVD and book everywhere you look. Bookstores sell it for about $38; the book is less.
SO, is it worth it? I believe you will have to decide for yourself. With that said, I will tell you this: Too many people think negatively and paying attention to what this law states could very well help someone achieve greater things out of life, and money. I permitted 13 of my workshop participants to watch it not long ago; 12 people gave it 5 out of 5 points. The 13th person gave it 3 out of 5, but said he would strongly recommend it to other people. Several people told their officers it was "life changing", but you can decide for yourself. If you took my workshop and want to watch it, give me a call and I will set you up, free of charge.
SO, is it worth it? I believe you will have to decide for yourself. With that said, I will tell you this: Too many people think negatively and paying attention to what this law states could very well help someone achieve greater things out of life, and money. I permitted 13 of my workshop participants to watch it not long ago; 12 people gave it 5 out of 5 points. The 13th person gave it 3 out of 5, but said he would strongly recommend it to other people. Several people told their officers it was "life changing", but you can decide for yourself. If you took my workshop and want to watch it, give me a call and I will set you up, free of charge.
Chase interest rates using online calculator:
I am always wondering how much more money I could make by moving my money from a 4.5% APR savings account...to one earning 5%. I finally located a calculator on someone's blog that can estimate these additional potential earnings. Try it out and see if your bank is really doing you justice! His blog site is also packed with lots of other solid money tips for good credit card bank rates, and more.
http://www.mymoneyblog.com/archives/2006/10/the-ultimate-interest-rate-chaser-calculator.html
http://www.mymoneyblog.com/archives/2006/10/the-ultimate-interest-rate-chaser-calculator.html
Wednesday, February 14, 2007
2007 Tax Season Tips
Tax season is HERE, and there is truly no time like today to begin pulling reciepts and such together. Come on, you know that if you procrastinate, you will be tired and grouchy, and mad at yourself for waiting until the last hour - again. So, why not do something different, and then sit back and watch everyone else around you hurrying to get theirs done! Set a date and time (at least two hours) to pull things together. Then call whoever does your taxes and set an early date to get in and get it all DONE. Or get a computer program and do it yourself? Is the short form really the way for you to go? Or, should you itemize your 2006 tax year?
If you get money back, it is to your advantage to do your taxes today - think of all your money earning interest in a short term CD...just until you find something TRULY better to do with it! I mean...I truly believe that you CAN find another means to get caught up on your bills without using your tax money, and you really DON'T need a new TV that bad - do you? Begin saving more money today; take the first step (if you have not already done so) and begin to put some aside for retirement (open a Roth IRA at a bank, credit union, or through a financial planner - or go online at ING Direct and check their IRA programs - it's really so very easy).
For those of you with court fees - chunk 70-80% of your refund towards your fines, and save the rest. I don't know for sure, but maybe you could be one of those people who gets off probation a little early.
Here are some tips from the web to get you going: http://money.cnn.com/2007/02/14/pf/taxes/do_not_miss_tax_breaks/index.htm?postversion=2007021411
If you get money back, it is to your advantage to do your taxes today - think of all your money earning interest in a short term CD...just until you find something TRULY better to do with it! I mean...I truly believe that you CAN find another means to get caught up on your bills without using your tax money, and you really DON'T need a new TV that bad - do you? Begin saving more money today; take the first step (if you have not already done so) and begin to put some aside for retirement (open a Roth IRA at a bank, credit union, or through a financial planner - or go online at ING Direct and check their IRA programs - it's really so very easy).
For those of you with court fees - chunk 70-80% of your refund towards your fines, and save the rest. I don't know for sure, but maybe you could be one of those people who gets off probation a little early.
Here are some tips from the web to get you going: http://money.cnn.com/2007/02/14/pf/taxes/do_not_miss_tax_breaks/index.htm?postversion=2007021411
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