Show Me The Money!

A New Year Brings Upon Inspired Thinking

2008-01-03T14:45:00.000-08:00

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.

Practical Money Skills:

2007-07-30T09:17:00.000-07:00

Do you need a financial motivator....something in the nature of a daily money tutor? Then click here and give "Practical Money Skills" a look. It's free and it's there whenever you need a financial pick me up!

Purchases Should Enrich Our Future:

2007-07-30T08:34:00.000-07:00

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!

The Effects of Consumerism on Your Life:

2007-05-29T15:53:00.000-07:00

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?

Are You Tired?

2007-05-14T14:12:00.000-07:00

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.

Improve Your Credit History and FICO Score

2007-03-29T12:59:00.000-07:00

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

2007-03-29T12:16:00.001-07:00

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.

"The Secret" and The Law of Attraction:

2007-03-15T13:08:00.000-07:00

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.

Chase interest rates using online calculator:

2007-03-15T12:56:00.000-07:00

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

2007 Tax Season Tips

2007-02-14T11:17:00.000-08:00

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

Great Online Retirement Calculator!

2007-01-30T16:14:00.000-08:00

Let me ask you one question - how much money do you have saved up for retirement? Do you have at least one CD in your name, one savings account (for emergencies) that earns a minimum of 4% (it may be weak, but it keeps up with inflation), and have you put anything into that unique thing called a Roth IRA? "NO?" "Hello?!!!!" I will keep this simple - and it is "simple" - truly it is:

If you are over 25, you should have already begun these 3 things. Why? Because the simple effect of compound interest will work in your favor. A 25 year old who becomes savvy about what they need to do with their $30,000 income will retire far wealthier than someone who is 32 and makes $50,000; that 32 year old can try as they might, but they will struggle to "catch up" with the 25 year old.

Many times my friends and I have each said, "I want to retire young enough so I can still enjoy life." I would guess each of us, including you, would have a different take on how much will be enough money when we are "old". I used to think that once I got my house paid off, that my state retirement plan might be enough. Oops, I forgot about that thing called "inflation"....and I am ASSUMING my health will still good. But what happens if I can't take care of myself and I need to enter one of those $5000 a month assisted living homes? Egads - nope, one retirement plan is NOT enough for most of us if this happens. I'm not saying being poor is a good thing at all mind you, but if you did "O.K" and had a decent job most of your life, I doubt any government or charitable agency is going to help pay to put you up during retirement - I think this group should be called "the once hard working, but now poor group".

I have viewed more websites about how to prepare for retirement than I care to remember. Each one was more confusing than the previous; I could hardly understand what information they wanted me to enter in those dang boxes - until today. I found an 'EASY to understand' website that doesn't take a degree in finance to use. I discovered it when I read an article on Ben Stein - he is that guy with the glasses that many of us know as a comedian/actor. Well, I never knew that this "funny guy with the weird voice" has an impressive education at 2 Ivy league schools, a law degree, an amazing career path that spans both government and private agencies, among other things. I suppose I prejudged him - you know...the weird voice and all made me think he was a just another funny, political satirist type guy. Nope, this guy is incredibly smart, and he is into teaching people about retirement. He sits on a board of this agency that distributes free information. Click on and take a tour - print off some of the materials. Use the retirement calculator and see how much money you will have coming in at age 58, 64, 68, and so on. It took me two tries to figure it out, and here are my tips to you. You HAVE to put in two different savings plans - if you don't have one, just put in something measly like "I have one dollar now and I will put in the same beginning in one year"....you will see what I mean by this. Also, the website forces you to say you have an IRA - use the buck trick again. It may also force you to put in a pension plan amount - again, I don't have this, so I did the buck trick. It will highlight anything it still needs in red...after you fix it an amazing color bar graph will pop up for you. Pretty cool. I discovered at age 66 that my income will drop dramatically before my SS steps in. Lucky I am young enough to fix this problem, but if I had waited I would have had several very lean years, and little travel money to enjoy.

Are you ready to get serious..... or are you still not convinced that today is THE day that you need to get going? I say it's about baby steps; 20 minutes today will get you going.

please check the website out and let me know if you like it, or don't. I'll be looking for your comment!

http://www.retireonyourterms.org/

P.S. You also might want to check out the AARP magazine website. It's pretty useful even if you are younger!
http://www.aarpmagazine.org/ OR http://www.aarp.org

Tucson Money Classes begin Jan. 2007:

2007-01-22T12:41:00.000-08:00

Various organizations, in cooperation with the Tucson Public Libraries, will be teaching free financial literacy classes from 1/17/07 through 2/28/07. You will find a tremendously wide range of one hour classes spread throughout the city, so log on now before it's too late. For a schedule, click on http://www.tppl.org.

Tips on Repairing Your Credit:

2007-01-19T09:57:00.000-08:00

Now that the holidays are over you, like many people, may find yourself struggling to pay off debt or trying to keep up with a car payment or rent. By summer you may want to apply for a loan or credit card but will be turned down because banks consider you too high a risk. Despite that, there are other banks out there that will take advantage of you. These lenders will lend you money, but do so by jacking up the lending rate as much as 22%! They do this knowing you are desperate for financial relief, and they may rightly assume you don't understand the game of percentages and lending rates. They fully intend to snag and lock you in at these high rates. To your own financial demise you will end up paying off their high percentage "loan"- eventually. What do they do with all the money they make? They take it and re-invest it, and make even more money off you. Lenders prey on those who can least afford a high interest rate, while those who don't need credit can routinely purchase it for as little as 5.9%.

Here are my 4 simple, but mindful, suggestions. The fourth tip comes via Oprah Winfrey.

Be organized and smart with your money.
Don't let people take your hard earned money out of your hands.
When trying to crawl out of debt, look back! Don't forget what got you in debt - do something smarter with your money. For starters, try keeping more of it!
Ask for a lower rate on an existing credit card. You can't cancel a card while still paying it off, but you can cut it up and not use it! Explain to the bank rep that there are too many competing interest rates out there; tell them nicely if you cannot get a lower interest rate, your spouse (or parent) is forcing you to cut up your card immediately, and while you really hate the thought of this, it's out of your hands and up to them (banks want to keep you). A rep will transfer you to someone who will try to convince you to stay on with them. By all means give them the chance! Staying with a lender/bank for a long time is GOOD for your credit, and paying it off will help you mend it.

"For me, doubt means don't. Don't move. Don't answer. Don't rush forward." - Oprah Winfrey, June 2003. Oprah is a wise woman and smart with her money. I think this statement from her book called, "What I Know for Sure" is a winner. If you ever doubt yourself, or need a pick-me-up, I recommend you read this book; although it is short, it is full of heartfelt and sound advice and will only take about one hour to read.

I won't re-write all the tips on mending bad credit, but if you want some advice on what do to work on just click on the link below.
http://www.practicalmoneyskills.com/English/at_home/columns/repair_110606.php

Save Money - Eat Right!

2007-01-18T13:24:00.000-08:00

While I was doing my daily scanning of worthy news articles, I came across this site: www.mypyramid.gov It has some things to get you moving in the right direction towards creating a better you, beginning with what you eat!

I got to thinking (again) that those of my friends who take care of their health and eat right often appear to manage their finances more wisely. Come to think of it, that's really hogwash, but it sounded like a great intro! *laugh* Honestly though, people who watch what they eat, who eat out less often, who walk and smile more, generally seem to have "it" together, if you know what I mean. These people traditionally procrastinate less and are more organized - heck, they have more energy so why wouldn't this make perfect sense!!!

Are you one of those people who eats out more than is healthy? Do you grab a piece of fruit, or a fresh veggie, as often as you do a meal replacement bar, or a bag of chips? If you eat too much meat for breakfast and/or lunch, do you cut back at dinner and make a wiser choice? This website has some good pointers on it, beginning with a daily worksheet - it helps you plan ahead (which saves money as well).

How would you like to have more energy and feel better? How would you like to sleep better, smile more, and cringe less? How would you like to save money, while making your whole life better? Stop procrastinating - knowledge is power! Just like your finances, eating right takes a little bit of extra time, and a little bit more elbow grease. But once you get the tricks down, it becomes second nature. Log on for your life, your happiness, and your pocket book. O.K., I'm stepping off my podium now. "Whew!"

The Old Adage is New: Payment is Compliance

2007-01-12T09:44:00.000-08:00

An old adage in probation is, "Payment is Compliance." Walk around the halls at any adult probation office in the nation and you will see at least one sign above a desk reminding us all of this steadfast rule. However, the old rule is "kind of" new again, and people need to sit up and take notice. As minimum wages go up, so do court costs. People can earn themselves an extra payment plan that the courts call "restitution and payments". Those who commit a crime and refuse the (possible) option of probation...who don't want to do community service, or who don't care that much about their families may serve out their time in a jail somewhere. This cold hard fact is certainly not very appealing to many of us. But staying out of jail costs someone money, and that someone is the defendant.

For many people, keeping up with paying their fines is one of the most difficult parts of being on probation. So, in order to help, Pima County Adult Probation developed an in-depth financial literacy program to help people get into the swing of banking and saving, and that is where this blog comes into action. "Show Me The Money!" is a once a week, five week program designed to motivate people to cut corners and save more. By sharing information and learning how to get out from underneath debt, people can begin to get ahead. In probation circles this means complying with the courts and taking charge of financial obligations. I decided I should address this underlying challenge of payment compliance right here - upfront, but not to personal.

The other day I was talking with a supervisor who explained some things to me about payment compliance. He explained that many inmates in jail would gladly pay $2 a day to be "out"... working. They could then go home at nights and enjoy time with their families. That is what probation is all about - giving people an opportunity to have some kind of life while they make work to better themselves, take classes/counseling, and make restitution with the courts and/or a victim. When an officer is encouraging a client to make a payment he is attempting to help someone stay compliant and out of jail. The goal is to keep the case moving ahead in a forward direction so that termination occurs on schedule, or sooner if at all possible. A probation officer's main goal is to supervise and assist people in getting ahead, not to make their life miserable as some people may mis-think. Keeping up with payments and such is only one part of an officer's challenging job, and it is a necessary one.

Clients need to appreciate that at any time supervisors may suggest revocation to an officer, or vice versa. At the judge's decision, a case can be revoked, whereby the defendant is re-arrested and returns to jail. When someone tells me it is more important to keep food on the table for their child than to pay restitution that month, I have to remind them that if they are in jail for failure to pay, someone else will be taking care of their child. The cold hard fact is that probation comes first and people have to find the means to "Get the job done regardless of their other responsibilities." Sometimes I will ask someone to rank the importance of what it is worth to them to get off probation. If they say a 10, but they are behind in their payments, then what they are saying and what they are doing are not matching up. Keeping up with payments needs to be a high priority.

I find both anger and resentment holds back quite a few of my workshop participants. They are angry for being put on probation, and they waste valuable time talking/arguing about the circumstances that got them there. I suspect the person they are really angry at is themselves - for trusting another person, for being in the wrong place, for making a poor choice, or for simply getting caught. Probation is about time, education, and the development of a good tool box. It's also about being financially responsible and visiting the county clerk every week, or month, to make that payment. I encourage people to let go of the anger and just deal with the consequences because resentment only makes for a bad day, and goodness knows things are tough out there as it is. Be thankful of the opportunity you have been given to still be a responsible citizen.

When it comes to paying, something is better than nothing - remember that. The Nike ad says it best, "Just do it!" If you have not paid in months, then for one week avoid fast food, a soda, or Starbuck's coffee...and put the $5 in the clerk's payment box. Next time, make a game of it - can you find a way to put in $10 next week? Most of my students, regardless of their income, can do this quite easily I have found. College students know how to stretch their money very well, hence the term "starving college student" and many do it better than anyone. They eat so much spaghetti, Top Ramen, and baked potatoes it makes me shudder. In 1996, I watched one break off the ends of the broccoli at Safeway one time, and I asked her about it. She told me she wasn't going to pay "that much for all the tough ends." College students do what they can to afford staying in school, and they do so knowing in the end that by pinching money they are buying themselves an education, and that someday soon they will be able to afford steak. We should all be so creative.

Be glad this money management workshop is free. Be happy you still get to "go home" everyday. Be glad someone is the courts thought you were good enough for probation (not everyone is). Begin somewhere, and begin today if you already have not, and ask for help along the way. It doesn't matter how well equipped we are, or how fancy our educations are (or, are not). Basically, it doesn't matter who we are...we all need guidance. It's why some people hire accountants, though it's only the smart people who know what their accountants are doing. Know what you are doing with your money. Know where it is going, understand it's control over you, and most of all appreciate it's power and what it can do for you tomorrow instead of just living for today.

All my best to your future success, Shanon

Online Thefts of Brokerage Retirement Accounts

2007-01-12T09:08:00.000-08:00

It turns out, not even your retirement account at a big brokerage is safe! Go to this link for more details on potential web thievery.

http://redtape.msnbc.com/2007/01/one_moment_dave.html#posts

It's 2007; Time for Some Goal Setting!

2007-01-09T13:06:00.000-08:00

Every time this year we think about what we have accomplished over the last year, and then we think about the new year, looming ahead of us. We ask ourselves, "Do I want to repeat 2006 all over again, or do I want to do something different, or perhaps do something more with my life, my money, and so on?"

Often we get into a rut; we do the same things over and over again. Well, ruts can be destructive to the spirit. Just like our bodies, our spirits need some kind of "food and water" to grow and survive. I think about "changing things up" nearly every day when I wake up, and I try to look at it as a good thing (though I admit is can be scary at times). It may be something as simple as going out to see a movie after work (when I'd rather be home after working 10 hours), or waking up and taking a bath (with candles) before I head off to work. lately though, my thoughts turn to finding a better interest-earning bank, or about moving versus staying in my rather cramped home. I think about "things" a lot because that is my nature. I also recall a simple greeting card that a friend gave me many years back; it was a drawing of a brick wall. That's it - JUST a red brick wall, with gray mortar. Inside it read, "The next time you feel like talking to a man, beat your head against this until the feeling goes away." I laughed, she laughed...everyone laughed. For me however, the card has more meaning than what it implies. It reminds me that, "If I continue to do what I've always done, I'll keep on getting what I've always got." The analogy to the card is that if a man isn't listening to you, then you need a different approach to help him want to listen. Goal setting is something like this for me; if one approach doesn't work, I have to try another way until I succeed. I understood this principle when I accepted teaching this workshop. To be successful at managing money meant I HAD to learn to "like" managing it...or at least find some sort of amusement, or challenge. I knew I had to make it fun for me - somehow, someway.

Who sets goals? My answer is, "nearly every successful person you admire". Many write them down, though I work with someone who claims she hates the word "goal", much like I dislike the term "budgeting". You see, procrastinators NEED to write a goal down, and look at it often so they will act on it. The movers and the shakers, who arise at 5AM, often prefer to keep their goals in their heads. Well, this may work for them, but it isn't for everyone. For many of us, setting goals is a PROCESS, and this process has definite steps, the first of which is to write things down! Buy a journal or notebook, or use your computer if you have one. Just don't forget to print the pages off so you can see them, handle them, write and take notes on them. Tucking them away does us no good whatsoever. It's like the cattlemen I used to work with who religiously weighed and recorded calf weights, but who never did anything with the data - their time and efforts were nearly worthless. So, if you don't plan on working on your goals, you are better off going and cleaning your kitchen counter right now. Reading my blog won't help you, unless you truly want to learn to make better use of your time and money.

1: First of all, you need to know that a goal is different than a dream or a vision. The Dream = No financial worries. The Vision = I'm going to become a millionaire. The Goal = I'm going to pay off my debt, and here are the steps that are going to take me there. You need to stop dreaming that someone is going to come along and give you money so you can do what you dream of. If you are on probation and owe money to the courts or a victim, you need to stop getting upset about it, and organize yourself - let things take their course. You can't control everything - you can do only what you can do. You need to do something- not make excuses. Take a posititve step and own up to what you owe, and step up to everything in front of you.

2: You need a PLAN and the plan needs to be yours - not your mother's, or your wife's plan, but yours! What will make you happy and help you to look toward your future? How are you going to get there - baby step your plan of attack. You must also recognize that many things in your life need some goal setting. You should plan to improve both your spirit and your finances. If you are stuck at home, for whatever reason, you need an outlet. Maybe it's learning to paint using watercolors, or learning to read better. Maybe you can be a pen pal to a person in another country and learn about their life in third world country. Explore the library as an adult - they've changed a lot since we were children! Go to the dog park - even if you don't have a dog. Volunteer at the hospital, holding children whose parents are kept away while they work out of town. Find a reason to improve your own life, whatever that means FOR you.

3: Goals must be specific in order to work for you. I can't just say I want to buy a house. I need to understand what kind of house, what area it should be in, how large, what view it should have, and how much it should cost. I can't simply say "I want lose weight" and expect to lose it. How much, by when, how will I do it, what do I need in order to reach my goal...now the goal is becoming specific.

4: Goals need timelines: If I state that I want to buy a house before March 2007, I should plan on it happening by then. With that said, timelines require baby stepping and they too must be reasonable. When you set timelines, you are setting a goal in an of itself. For example: By January 15, 2007 I will call the mortgage lender and begin the pre-approval process. By January 20, 2007 I will call my agent and ask him to begin locating houses that fit my needs and wants. If I had simply stated that my goal was to find my dream house by the end of next week, then the chance I will find that house is pretty poor. My goal is doomed to fail. Be serious about goal setting and write down some good baby steps and make sure each step has a good timeline. To the procrastinators: Don't give yourself too much time, or you will lose steam. Set a moderate pace - not too slow and not too fast. This leads to success!

5: Now for the doozie---you should state your goal in past tense, so it sounds like you have already accomplished it. Example: "Today is March 15th: I have lost 10 pounds by thinking carefully about what I eat and by walking with Cindy twice a week. I love the feeling of being in control and I am really happy about achieving my goal." Some people call this a "mantra". Sales people are well known for getting up each day and saying their mantras outloud. Think of it this way: People who fail often are telling themselves, through their words and actions, that they are not good enough. They wake up, look in the mirror, and say, "Gosh, I look AWFUL today!" A grunt usually follows that sounds something like, "UGH." Well, do you really think the day gets much better when we do this to ourselves? Hello? Are you listening? We need positive re-enforcement, not negative. Try this simple test: Next time you feel sad, go to the grocery store - walk around pushing a cart and smile...at everyone you see. Smile at the old man who has missing teeth, smile at the lady with the screaming child and tell her she looks nice today, smile at the produce man who has been working 9 hours and wants to go home - tell him he does a great job at keeping things in order. When you go home, ask yourself if you don't feel better. I will bet you do, because when you smile it changes the brain and you actually do perk up! Put a goal in past tense and repeat is outloud.

6: Review your goals: Put your goals on paper, where you can see them occasionally, and then review them once in a while. If you are not moving ahead towards your goal then you aren't doing something right. Plan to make adjustments along the way and you will succeed.

When goal setting some people like to remember the acronym, SMART. Goals must be: Specific, measurable, achievable, reasonable, and timely.

I believe many of spend more time thinking about what shampoo we want to purchase than sitting down and thinking about what we really want in life. We dream, but we don't spend much time planning. Maybe we should all devote two hours a month to planning out our dreams so we can finally feel what it's like to live fully. Live your dream! Create and give a name your vision- close your eyes and feel what it will be like to reach your goal. Then write down what you need to do, set a timeline, and create the baby steps. When you falter, ask for help from someone you value. Successful people love to help other people succeed. Good luck!

Banks: Brick and mortar versus online options.

2006-12-08T12:23:00.000-08:00

People tend to bank the way their parents did. If your parents didn't use a bank, but rather paid everything in cash, then chances are you use only cash as well. If your parents went to Valley National Bank (in the old days in Arizona), then that is where their children all began to bank early on. I have since learned that many people don't trust banks with their money; I think our level of education has something to do with choosing to use a bank versus paying in cash. Me? I like banks. I adore my credit union in every way possible. I like the ease of use and the more intimate experience. Like in the old days, my credit union knows me and I feel appreciated. I'm a member, and not just another customer. They lead me in positive directions, and they provide me with solid advice when I ask for it; sometimes I don't even need to ask! Once they kept trying to get me to move my money into a better earning account - they politely showed me a better way until, after months of discussions, they convinced me. That was step one for me. 10 years later I have made it to steps 2 and 3!

So what is so different about banking today? We have an onslaught of online banking methods, and a new kind of trust must be built. I am one of the hybrids. I find I want both. I want my local bank, and I want an online bank. Why? Simple; I like money and I want to make it work for me, alongside me, every day, rain or shine. Most brick and mortar banks (the ones you can walk into) don't offer as good of rates as some online banks. Why is that? Because online banks have lower overhead and they can pass the savings on to you, literally. On another level, some banks have gone online and offer both! In the city where they are located you can walk in; but if you live in Tucson, and you like their rates, you can go online and open up an account with them. Neat idea.

It's like this; some banking systems are old fashioned and outdated. Why do they still have them then? Because as a child, a savings account is the first account we usually get. What we learn gets ingrained in our minds as safe and secure. Later on, we get a checking account as that is what "we know" and that is what banks advertise. Yes, these are safe and secure. But how much are you earning? I recently polled 4 people at work; none of them knew what interest rate their accounts had. Enough said. Most people DON'T know.

Online banks can offer you a great place to put your money. How does it work? Well, many times you may have used an online banking method; a debit card is one example, and another is when you call a company and pay by phone. These are "electronic transfers". This is how online banks work. You can move money from your low earning brick and mortar bank to an online bank easily. It took me 5 minutes to set up my online account with ING Direct (one of first and the most popular online banks). Soon, I will be electronically transferring money from my credit union into this this higher earning account (4.5% for an Orange Savings Account). When I need money to pay bills, I can call the 1-800 number, or go online, and move money back home.

Now let's discuss and compare account types: Checking, Savings, Money Market, and CDs.

1. Savings Accounts: Let's begin with my least favorite. Savings accounts really are a dumb move at today's inflation rates. Are you listening?. . . I said regular savings accounts are pretty darn useless! Many offer interest rates of about 3/4 of one percent (clarification...this is less than one percent). After studying and researching all my options I realized I was losing about $400 a year in possible earnings. Why do we all have one then? (o.k. we all don't, but we should cause it's better than nothing)....because it's what we learned about first from a parent or grandparent. Nearly all 9 year old 4-H kids who raised an animal for the fair got a savings account so they could put the money aside and buy an animal the next year. It allowed us to buy our own feed that second year. I loved looking at my "passbook" - remember those! Watching your money save up was incredible! Most kids on my block had a regular savings account too. But, now that I am older and wiser I'll give you a hint; anything called "regular" means there is a better plan out there. The better plan is called a MMA.

2. Money Market Accounts: I walked up to the help desk at my CU and asked about a MMA. She showed me a piece of paper explaining the different accounts (there are both Checking and Savings accounts) and asked me how many withdrawals I might make in one month. Some accounts may limit the number of withdrawals, but their particular savings account does not have that restriction. I could move money any time I wanted into any other account, or withdraw it easily. She explained that the rates "float" depending upon how much money you have in the account; drop below a certain line and your rate drops a bit. Deposit money into it and walla, your rate just shot up a quarter a percent! I said, "What do I have to do?" She said, "Just a minute" and typed away for one minute. Then she said how much money do you want to transfer into it? I had no idea - "Half?" She suggested more, a lot more, and explained that the MMA works much like a regular savings account. It does? Then why don't more people have MMAs I wondered quietly to myself. So that is what I did; I moved about 90% of my money into my "new" account. She said, "Sign here--and this is your new account number." In astonishment I stuttered, "That's it?" She commented, "All done, Maam." Jeeeezzzzzz! I had been procrastinating about this new account for 6 months or longer. Ugh. I had just transferred my "old" savings into a Money Market Savings account in four minutes. Electronic transferring is SO easy. I wanted a cocktail immediately afterward - I wondered how much money had I wasted all these years? Well, I "thought" it would make me another $400 a year. But it turns out it was more like $750 annually, depending upon how much "I blow" on fun trips and luxury purchases. Oh heck, that four minutes just paid for my airline ticket to Ireland or Italy next year. Now I am planning to move most of my MMA money into my new ING savings account...3% versus 4.5% is another no-brain move I feel safe to make.

3. CDs: Certificates of Deposit. Like a savings deposit but the money is locked up. You can't use it for a pre-determined and specified time (your choice); common lock in rates are based on 3 and 6 month rates. There are also, 1, 2, 3 and 5 year rates. Compare them online at http://www.bankrate.com . You guarantee you'll leave the money alone (so the bank can barrow and use the money themselves) and they, in return, give you a great interest rate! With the economy as it is today it doesn't make sense to lock in for extended years, though in volatile years it makes perfect sense. Saving for something specific is easy with a CD, but if you need the money for an emergency there are early withdrawal penalties. All banks and credit unions offer CDs; walk in and just ask for help in opening one. Be aware that online banks often have better rates - MUCH better rates. Now that I have an ING account, I can transfer money and buy one of theirs in less than 5 minutes no doubt. Is there a downside? Not if you know what the penalties are and are prepared. The only other thing I should mention is that you have only a few days (usually around 5) to go and "Get your money back". If you don't, the bank may roll your money back into another CD, locking it up again. Know your bank's policies.

4. Checking Accounts: The most common way to transfer money and pay bills is using a good ol' check. You may even have a debit card attached to your checking to make your life even easier(just make sure you log your debit purchases). Banks have varying fees and charges for these accounts - they vary widely. Do your research online, or go and ask each bank for a pamphlet of their checking programs and fees. Do they offer overdraft protection? Do they charge per check written, or is it unlimited? Do they have an account that earns interest? There are all kinds of checking accounts. Find a good one that works for you. It may be that you really need one that is close to your work or home. Find out if your company can offer automatic deposits - a electronic transfer saves both you and your company time and money. For some people, it means your check may show up on Thursday instead of Friday.

That's the bottom line on some of the more popular accounts- do your homework and choose what is best for you. As you become more at ease, you may find you will want to do more research and make your money work harder for you. I finally did, and so I chose both types of banking institutions. Next up for me is to buy my first CD; a 3 month CD may work well in the coming months as the IRS prepares to take a little more from me. A CD means I won't be worried about paying them come April 2007...and instead of earning 4.5% in my ING account, it will be earning 5.25% ----even better! Cha-ching.....happy thoughts.

Online banking is a genius move!

2006-12-08T11:25:00.000-08:00

I'm not an accountant, but I'd like to think like one! Bottom line is that time is money and I need to use both wisely. I want to enjoy my spare time and not be tied down writing out checks, buying stamps, and then going by the post office to pay my bills. Well, online banking is just what I needed. Now I don't worry about my bills and paying them is a stress-free "moment". My old routine consisted of getting my bills out (lots of envelopes and paper) and putting them in piles on the coffee table - usually in front of the TV so I could "relax more". Then I would grab my checkbook and a pen, and then look for stamps (which are always getting more expensive it seems). Then I would begin reading each bill, tearing it off, writing the check, documenting it---you know the routine I'm talking about. BORRRING. What use to take me over an hour each month, now takes me eight minutes, or less. I'm not exaggerating. I log on and check for my bills (5 minutes to look them over) and see what I owe. I open my online account, log in, and begin paying (3 minutes from start to print receipt). Now it's even easier as MSN has a direct line to some companies; they send the bill right to your MSN account! Log on and it tells you if you have a bill due and how much it is. Click to open it and it directs you right to your bill so you can verify it. This is is a genius move by MSN. I can now pay my electric bill, credit cards, mortgage, whatever....all in one place. No more going to each company's website and paying individually. This is so much easier.

I have cut the time needed to bank and verify my accounts. With paper statements I didn't spend as much time thinking about my money as compared to my new online banking system. Another benefit comes to those people who are late payers - you can receive reminder notices via email, and even schedule payments in advance!!! Hello? All those late fees you may have once "enjoyed" can now be ELIMINATED - you won't procrastinate because there is no hassle. Yippee! So what is the catch? Maybe a small fee. The trade-off is you can avoid late fees and save money. I estimate I saved at least $75 in late fees in 2006 because I'm truly well organized now: I don't misplace bills, I pay on time, and I now I think better about money and interest rate charges. I made a game out of paying off a credit card using online baby payments (smaller payments made multiple times in one month). The monthly small fee I am charged is a no-brainer for me. I take care of ALL my bills using one of the secure online methods-- it takes me about 4 minutes. I always use a secure computer (this is critical, but not difficult) to manage my accounts and pay bills. I verify withdrawals, transfer money between accounts, and verify deposits (important when an item is returned to a store). I now verify my debit purchases and this too has paid off; a restaurant once double dipped into my account. My $21 dollar dinner ended up costing me $42! I caught their error and took care of it quickly. My credit union was helpful.

Take 30 minutes and do your own research. Check to see if your bank or credit union has online banking services, and also look at sites like MSN BillPay and others. Fees vary, but I think most are very affordable, and some are worth every cent.

MMM by Getting Smarter!

2006-11-08T10:50:00.000-08:00

My brother named his first company "Tri M" (MMM). While he had real reasons for having there be three ms in the name (as one company facility was in Memphis), he told me (with a wink in his eye) that it really stood for "Make Mo Money!". *laugh*

I recall someone once telling me, "Shanon, stop telling yourself you can't afford something, and find a way to get it!" He was right, I was making excuses for myself and I was way too comfortable in my job- it was interesting, fun, had good benefits, and I got to be creative while meeting lots of people, but the pay was poor to say the least. I believe that many of us mentally go about our days wrong. We walk around whining and lamenting, "Dang! I can't afford to buy this." So, what's one way to MMM? Well, how about getting a better job? Ask yourself if you make a decent enough income to live the lifestyle you truly want. Then ask yourself, "Am I TOO comfortable in my job?" The bottom line is that most people get stagnant, stop growing, and fail to reach their income potential because they get "too comfy where they are".

With that said, one of the quickest, smartest (and most legal) way to MMM is to go back to school. For working people, online degrees offer one solution. However, that doesn't mean you should get a high school diploma or GED online; they are expensive and not worth the paper they are printed on. Not only that, there is NO way you can test online as they have no proof of who the tester is. Avoid online high school rip-off companies! Find a reputable adult education facility to study at through your local junior college, participating high school, or adult probation department. For more information on online studying, time management, and financial assistance check out this website.
http://www.oedb.org

Re-motivate and Ramp Up Your Savings!

2006-11-06T09:01:00.000-08:00

The best time to rethink our budgets and savings IS the holidays. Think about that. When else do we tend to get "off base" more? I say it's not late to "Ramp your thinking up now!"

On MSN Money Central there was a great article posted today on how so many people whine about how hard it is to save. So many times we have all heard people complain that they don't make enough money to begin with; are you one of those people? It's time to get real folks because the stats are in! The findings on a large study done with various income level households has proven that low income families can save more than those in the middle income ranges. How? Best you read the article yourself; here is the link.

http://moneycentral.msn.com/content/Savinganddebt/Savemoney/P36020.asp

Don't Let Christmas Break Your Wallet:

2006-11-03T14:19:00.000-08:00

It's difficult to believe that it is that time of the year when people are breaking into piggy bank savings and charging up their cards: "Virginia, there is NO Christmas Fairy who will pay your rent when your card cards become due January of 2007." Here are some tips for not going overboard this year:

Draw names and exchange gifts with extended family and friends - they may be in the same boat as you, wanting to save money.
Make a list and then KEEP TO IT. Set limits and abide; organized buyers spend less.
Instead of buying some people gifts, make a contribution to a charity and send people notes early on in December explaining who you contributed to, and why. It's a tax deduction, and maybe they will even follow suit!
Set aside special time with your family and friends to make cookies, go for walks in the winter air, and generally spend more time with them. Everyone will feel less stress and you will enjoy discovering new things together. Make the holiday about giving from the heart and of your time, rather than from the pocketbook. Keep your gifts simple, or reduce the number of little things and get that person one special gift they will cherish longer.
Throw a potluck party for friends - encourage them to bring a gift for a needy child and meet them at the front door with a steaming mug of spiced cider. Put your collection basket up front, right by the tree, and enjoy watching their faces as they marvel at the gifts. Make up song sheets and then go caroling after dinner.
Ask people to donate unused gift cards; donate them to a charity, or go and buy gifts and make the donations yourself in their honor. Drop them a note telling them what you did with the money, or have them go with you!
Get your friends together, meet at a McDonalds near a park or shelter, and buy homeless people breakfast - it's cheap and you spread the cheer! Donate your time, make some cookies, and clean out your closets (job interview clothing) for a shelter in your area.
Compare gift prices online; some sites may have free shipping!
Go onto the Internet and find more useful tips; share them with your friends and family.
Make sure people know you are in the holiday spirit but are choosing to spend your money wisely this season.

Make a plan for enjoying this holiday season while not going for broke. Amaze yourself for sticking to it, smile everyday, and reward yourself with a cup of hot chocolate when you "do good". Happy Holidays, Merry Christmas, Happy Hanukkah....

The Pension Protection Act:

2006-10-06T10:06:00.000-07:00

There are seven things you need to know about The 2006 Pension Protection Act. Amazingly, while we were all out enjoying the sunshine this summer, the government did some serious work on a bipartisan level to protect our pension plans and make it easier to save for retirement. The new law is called the Pension Protection Act of 2006, and it represents the most sweeping change since the Economic Growth and Tax Relief Reconciliation Act of 2001. Many even say it's the most important tax reform in 30 years. Here are the top seven items in the Pension Protection Act that you need to know about.

1. The tax law changes of 2001 are now permanent.
2. Retirement plans and savings incentives have been increased.
3. Enrollment in 401(k) plans can now be automatic.
4. Now 401(k) savings can be inherited by non-spouse beneficiaries.
5. Tax refunds can now be deposited into IRAs automatically.
6. Starting in 2010, even the rich can Roth.
7. The 529 college savings plans are now permanent.

(This information was pulled from the David Bach Finish Rich September Newsletter - you can subscribe to it for free on his website)

Beware of "Payday Loans"!

2006-10-02T14:26:00.000-07:00

Recently there has been much negative news about the misuse of pay day loans. Now, the United States government has intervened in order to curb the problems that occur when military employees abuse short term loans. In reality I should say it's the loan companies that are abusing their customers. Imagine how much money they are making off people - these quick loans centers are popping up on every corner! Their favorite locations to set up shop are in neighborhoods where people live who don't use banks. Generally the best customers are those that are undereducated about how to deal with dangerous detours (people who are looking for a quick resolution to their financial problems). If I may be blunt without offending you, anyone who NEEDS to use such a service is the WORST possible candidate for a quick loan. Payday loans can literally drive people over the edge and into a financial downfall.

It works like this: Payday lenders offer short-term loans against borrowers' paychecks and charge fees. Borrowers who cannot repay the loan by the next payday often "roll over" the loan repeatedly, leading to more charges. The average annual percentage rate for payday loans is about 390 percent. Yes, you read that correctly-- 390%! As lending fees pile up, borrowers can end up paying annual percentage rates of 800 percent or more. Compare that with a credit card that charges 9.9 - 22% and credit cards suddenly sounds much smarter. For the record, I do NOT advocate the use of credit cards for most people, as most people use them incorrectly to begin with.

The bottom line is you want to avoid getting into trouble by spending less than you make; Live Under Your Means (LUYM). Study where you can trim your budget and put that extra money aside in a special account and let it grow. Develop a comforting safety net for true emergencies and you will sleep much sounder at night.

Beware of Advertising Scams

2006-09-28T12:49:00.000-07:00

As we all know, the media bombards us daily with misleading information. We have all heard lies about products that will help us lose weight, remove wrinkles from our skin, or bring down our cholesterol. We have to remember that when anyone makes a claim about a product or service, they have to back up that claim with research and/or facts; no one should ever assume the information is accurate. If a claim is too good to be true, check the facts and ask people if they have used the product with success. A good example of this was Ephedra, a natural weight loss herb. Since it seemed to curb hunger, thousands jumped in and bought it. At the time there was little western scientific research to support the use of many herbs. Herbs have been a largely unregulated product because people mistakenly think that natural translates into safe. Despite this fact, people used Ephedra and ignored the lack of evidence about it's long term side effects. Sadly this herb was not safe and many peoples' hearts were permanently damaged by the effects before it was pulled off the U.S. market.

Now the scammers that have mislead us have fixated their sights on the fastest growing consumer group-- Hispanics. Spanish speakers are being increasingly targeted by misleading statements, and as a result many are throwing their money right down the drain. The Federal Trade Commission is addressing this concern. Click on this website to read more: www.ftc.gov/opa/2006/09/hispanicsurf.htm

Stay safe; do your own research before investing your hard earned money on any item you know little about.

Buy a Home with a Good Work History:

2006-09-15T11:28:00.000-07:00

Recently I attended a conference on real estate and investing. Of special interest to me was a speaker who has gotten hard working people into homes, even when they didn't have cash for a down payment. Such transactions are commonly referred to as a "Lease to Buy Option". It works like this: People who own homes (let's call them investors) can take the equity out of their home (barrow against their home's value accrued over time) and buy an additional home. Betting that the home will be worth more in a few years than what they bought it for, they use a low interest mortgage to carry the mortgage, and then lease you the home.

Candidates for this option probably do not have enough savings towards a down payment and cannot qualify for a traditional mortgage. However, they do have a solid work history and evidence of being able to afford a monthly home payment. Lease to Buy Options can help someone get into a home earlier - it takes years to save for an adequate down payment on a home. There are people out there willing to bet on a person with a solid work history. A potential buyer who has shown little financial responsible, and who has a weak job history, would not be considered. Who is a choice candidate? Teachers, correctional officers, people who work in the trades, someone who had a bad run of luck but who shows evidence of being a good risk, a waitress who has a good schedule and a little savings, someone who had some medical bill problems but who has still shown financial responsibility, and so on.

Leasing is a little bit like renting except for three main points: 1) Your lease payment is higher than a rental payment, 2) You are responsible for the upkeep and repair of the home and, 3) You are building a positive credit report that will help you qualify to buy the home at the completion of the contract. At the end of the 2-3 year contract the buyer should qualify to be able to buy the home through a traditional lender.

What is in it for the investor? The investor carries the mortgage and therefore gets to write off the interest come tax time. Secondly, while you pay the mortgage, they are gaining equity in the home (as much as 10% a year). You may set out to buy the home for $150K today, but in three years, when your lease contract ends, the house has gained in value and now you have to buy it for $185K (example only). What is the down side? For the buyer, they must maintain the home in good repair, otherwise they get a junker that could be worth less than when they entered into the agreement. The buyer could default (couldn't keep up with the payments, or payment was overdue too many times)-- the contract would be null and void, they could be evicted, and lose all the money they put in. The seller then goes and finds another buyer and begins the process again. If the buyer decided they didn't want to the home at the end of the contract, then they basically rented the property at a slightly inflated price, and again the buyer loses all. The upsides for both sides can be plentiful though. Buyers who take care of the property and put money into it, can reap the rewards of increasing the home value even more than predicted, and thus have a great investment at the end of the contract. Home prices could inflate/deflate, and your investment could be worth more/less than what you contracted to buy it for. Either the buyer or the seller might end up slightly disappointed. Regardless, many people see this as a win-win option. You can find mortgage companies that specialize in putting investors and non-qualifying (but hard working) buyers together.

How Do You Begin to Invest?

2006-08-24T14:52:00.000-07:00

The question is often asked, "How do I get started on my road to financial stability?" Well, yesterday I had an appointment with my "financial guy" (someone I met more than 20 years ago while I was teaching at the University of Arizona). He told me he hears the question all the time-- "How do people begin to invest?" We agreed that the first step is to find out where your money is going - to really spend some time figuring out what you are doing with your money each day, week, and month. Write things down and see what you are actually spending your money on. The fact is, most people DON'T know where each dollar is going (smart millionaires are the exeception). The next step is to think about the kind of life you want to live when you are older. Do you want to be working, do you want to travel, help your kids go to college - what? When you answer these questions, it is time to push yourself into making a call - calling someone wiser is simply the smartest choice for most of us.

I will share my brief journey with you and hope you hear the importance of what I am writing about: I met Steven when I was about 24 years old; he was fresh out of college and pounded the hallways a few times each year looking for new clients. He told me I should begin putting aside a little bit each month. He explained that because I was so young, my money would grow quickly. I told him my challenge was that I didn't make enough money to invest. Actually what I didn't tell him was that I was scared and I didn't understand the process of investing. I was so YOUNG, and retirement was so far away! Why should I begin now? Well, what I was-- was ignorant and foolish! I believe when I was about 32 he finally convinced me to open a little TSA (tax sheltered annuity). I think I began with $20 dollars twice a month. I did that for a few years and didn't think much about it. I left that money there when I left the university; but I didn't keep adding to it. Ugh. As a result it grew slowly - but hey, it's more than I had before.

Now, at age 44, retirement is but 15 years away. Lucky for me, Steven is still around to help point me in the right decision. It took teaching this workshop to motivate me to change my ways. In the last few months, on my own, I have shifted money from a .25% savings account, to an MMA where it now earns over 3% (it took me 3 minutes to do this - it was so easy). Soon, I will move it from my bricks and mortar bank, to an online account that will earn over 5%. Good things are happening. I met with Steven yesterday and visited with him about my retirement savings. His secretary laughed when I walked in - she has been calling me for years to come in and chat -and here I was - finally! Can you imagine taking nearly 15 years to take the next step? This one hour appointment educated me and I jumped at the chance before me; I FINALLY open up an additional IRA that will supplement my retirement and social security income. As I write this, I can tell you . . . I feel so much smarter and more secure about my future. Funny how retirement sneaks up on you. Do you know where will you be in 15, 20, 30 years? Working and worrying, or relaxing and enjoying life?

Steven agreed that simply deciding to move ahead is the first step - do anything - begin a high earning savings account and put in $20 every payday. Then 3 months later, increase it to $30. . . and so on. Do it with payroll deduction so you don't have to think about it; it is gone before you can see or spend it. Pretty soon, you are on your way, and doing things differently with your money. It's called "Baby Steps." Taking things one step at a time is somehow the easiest way to begin savings. For others, it may be "jumping in feet first and going for it whole hog". Hey, whatever works for you. The worst thing to do is believe that someone will be there to pick you up, or that Social Security will take care of you.

Opening up an IRA (Individual Retirement Account) begins with talking to someone at your bank, or finding a financial wizard you trust (like I did). Contrary to what you may think, investing does not take much money, and opening an account only takes a few minutes. You sign up, write them a check (the amount is your choice), and a week later, you are on the road to investing. Making a tuna salad sandwich takes more time and effort than opening up an investment account! No, I am not kidding, nor am I am exaggerating.

I relate to Steven; his office is understated, he doesn't wear suits every day, and you would never guess what he did for a living. I like that he relates to his clients and he honestly enjoys guiding people into making good financial choices. When you think about selecting someone to guide you, realize that not everyone is the Wall Street type. Choose someone who will work for you - in your best interest. Ask people who they use and shop around. Smart people find smarter people to guide them in investment options. Ask about IRAs (and other mutual fund type options). They can reduce your taxable income (that's good for people who still owe taxes come April 15th), but most importantly opening and adding to your account each year means your future is more secure, and a whole lot brighter.

Bottom line is that if you are really sick, you see a doctor. If your roof is leaking, you call a roofer. When you need financial guidance, you talk to a person who has spent their working life helping others to get ahead. The key is to make that first call. Get yourself educated; in the process you will feel safer knowing you are one of the smart ones. Make your hard work and money count - do something intelligent with it!

There is a country song that begins: "Dear Mom and Dad, please send money, I'm so broke that it's not funny. I don't need much, just enough to get by. Don't worry 'cause I'm all right." Doesn't that sound sad? I prefer the last stanza of the song much better: "Dear Mom and Dad, I'm sending you money. I'm so rich, it's not funny."

Make a choice-- new sneakers, or $50 more in your new IRA? Are you listening? I don't care if you are flipping burgers, raking yards, or operating a backhoe. Investing is for everyone - that means even you.

Websites on Motivation / Goal Setting / Inspiration:

2006-08-18T10:44:00.000-07:00

Do you need some inspiration in order to get motivated? Click below for proven techniques that will propel you ahead further and faster! BTW...I will update this section with new websites, so check back occasionally and see what is new.

http://thesecret.tv/home.html (In an emotional rut that affects your bottom line? This is a great downloadable DVD)

http://www.dellamenechella.com (goal setting and motivation - studying her site is like taking a free workshop)

Who has the right to ask for your SSN?

2006-08-17T14:49:00.000-07:00

While any business or agency can ask for your number, few can actually demand it – the exceptions are motor vehicle departments, tax departments and welfare departments. Also, SSNs are required for transactions involving taxes, so that means banks, brokerages, employers, and the like also have a legitimate need for your SSN.

Most other businesses have no legal right to demand your number.
"There is no law prohibiting a business from asking for your Social Security number, but people don't know they can say no," says Carolyn Cheezum of the Social Security Administration.
"We recommend that you ask if they'll accept an alternative piece of identification. If they don't, flat-out refuse to do business with them. Bear in mind that there's a possibility they'll refuse to provide whatever product or service you're seeking."

“When you go to the doctor's office and fill out the medical information, they ask for the SSN. I leave it blank. Nothing happens. I'm not reporting income from them."

In fact, chances are good that many companies that routinely ask for SSNs will do business with you even if you refuse giving them your SSN. Most companies have alternative customer ID numbers but will only offer you one upon request. For instance, in order to open an account at a utility company, you may asked to fill out a questionnaire to determine payment history (all based on honesty). Questionnaires help companies determine ratings, which determines whether customers have to pay a deposit to establish service.

Linda Foley of the Identity Theft Research Center says she brought her critically ill cat to a vet's office and balked when she was asked for her SSN. "I said why? Will it be my cat's ID number?” They said “No, but if you give us a check we want a driver's license and a SSN in case the check bounces.” I said I'd pay by credit card. They said it's our policy to get the number. I said, “If I give you a credit card and refuse to give you my Social Security number you'd let my cat die right now?” They looked at me and the cat and said, “Give us the card; we'll take care of it.” I was upset about the cat, but I was frustrated by the way I was being treated. It was unnecessary."

(This is a partial reprint from Yahoo Finance – for more information, visit their website at: http://finance.yahoo.com/banking )

Crush Identity Theft!

2006-08-17T14:17:00.000-07:00

Identity theft is up, but is your guard? Visit this website for the most up to date information available . . . it will only take a moment of your time, but will save you a hundred hours of valuable time trying to regain your financial identity!

http://banking.yahoo.com/20020612a.html

Five Statistics to know:

2006-08-10T10:09:00.000-07:00

The average American carries $9000 debt.
The number of credit card solicitations by mail has exceeded 6 billion annually. You can opt out of getting solicitated by calling 1-888-5-OPTOUT.
If you were to pay only the minimum on an $8500 debt, it would take you 35 years to pay it off.
Some states like South Dakota and Delaware have no caps on the interest rate percentage that can be charged. Your card company probably bills you out of one of these states.
Medical expenses contribute to 50% of all bankruptcies.

Websites on Money!

2006-08-08T16:47:00.000-07:00

Click on my favorite money related websites! If you know of another good website, let me know. I will update the list, so check back once in a while!

Money Management Websites:

http://www.oprah.com/money/money_landing.jhtml (Oprah's experts give you lots of general information)

http://money.cnn.com/ (everything on money)

http://www.budgetingbabe.blogspot.com/ (popular blog on one girl's financial journey - lots of tips)

http://www.bankrate.com (financial calculators, compare bank rates, much more)

http://www.daveramsey.com (one of the gurus-- famous for the Debt Snowball, and known for hating credit cards)

http://www.suzeorman.com (another guru--she focuses on organization of your record keeping, financial planning and has great, easy to use, inexpensive products designed to help you build wealth)

http://www.personalfinancebudgeting.com (free downloadable budgets, calculators, tips, online e-course)

http://www.playbook.thehartford.com (The Playbook for Life. Designed for athletes but perfect for us all. Great interactive forms on budgeting/calculating net worth/setting goals)

Identity Theft in Arizona:

2006-08-08T15:21:00.000-07:00

RED ALERT! Arizona is #1 in Identity Theft!

Here are the latest figures on identity theft in the United States
The Top 10 states for identity theft (on per-capita basis)

Ranking / State / Victims per 100,000 people / Total Victims
# 1 /Arizona / 142.5 / 8,186

# 2 /Nevada /125.7 / 2,935
# 3 / California /122.1 / 43,839

Tips to prevent Identity Theft: Don't provide your Social Security Number unless it is absolutely required by a company; ask companies to provided you with an alternate ID number. Change any ID card that uses your SSN as a reference number. Use a cross shredder to shed all paperwork with valuable information on it, such as your SSN, computer passcodes, old credit cards, and personal information. Lock your mailbox and give your carrier a spare key, or use a P.O. Box at a local station. Do not reply to phishing scams (Internet e-mail); always contact companies by typing in a direct e-mail address. If a bank contacts you at home to verify recent activity on a card, tell them you want to verify the call before you speak with them. Then call your bank directly and ask for verification. Call your credit card bank and request they stop sending you blank checks in the mail. Never leave mail unattended, or in your car in plain sight; people may break in and steal all the information they need to steal your identity! Keep careful track of your checks and card purchases; compare against your monthly statement on a regular basis. Keep your blank checks locked away from visitors; thousands of family members and house guests steal blank checks each year from unknowing/trusting people-- don't trust people you don't know, and don't accept anyone's trusting word on a houseguest. Use your bank's online website to verify your banking account activity on a regular basis. Don't allow someone to swipe your card out of your sight; if you did that with a debit card they can wipe you clean by copying your number (credit cards are safer in this regard - most banks will limit your liability). If you use a computer to buy things, or pay bills with, make sure your Internet connection is secure; increased use of non-locked wireless connections translates to an increased risk for someone to tap in. NEVER store your numbers, passcodes or personal information on your computer - not even in a folder in your E-mail Inbox. Write them down and tuck them away safely. Mix up your passcodes, using numbers and letters, PARTS of words, underscores, whatever - never use pet or child names, or anything code crackers can search for. Code crackers have multiple computers going 24/7 that search for computers left running idle which look for common names; log off your computer when it's not in use. Change your passcodes frequently, and do not replicate them for multiple accounts (I know this one is a pain, but be safe). Check your credit report online on a regular basis; it's free once a year, and there are three different national companies to choose from. Checking online takes no more than five to ten minutes. You will be asked several questions to verify your identity so be prepared with your old addresses, work history/dates, and so forth. Make sure to always use the same exact name and spelling on all your accounts; this will make verifying your report and accounts easier, and make it tougher on a thief!

For more information on keeping yourself secure and safe, look for updated information on this blog. Also, go online occasionally and look for new tips. You don't want to be the next victim who has to spend a hundred extra hours of your time cleaning up your record.

Obliterating the Latte Factor:

2006-08-07T14:46:00.000-07:00

What is your guilty pleasure?

By now, you should have heard the buzz about one of largest everyday drains in many people's bank accounts. I'm talking about our snacks on the go. This loss of change has been appropriately coined "The Latte Factor" - it's the money we don't think too much about. So many working people have the mentality that we are too busy to think ahead, so we grab a coffee, soda, and/or a quick snack - we plunk down our change with little thought about the cost over the long haul. Have you every TRULY sat down and calculated how much your on the go mentality costs you? I will allow the numbers to speak for themselves. Tall iced latte with a bagel = $6.00 @ 3X a week = $18.00 @ 4 weeks a month = $72 a month @ 12 months a year = $874.00. Yes, that is what I said....eight hundred and seventy four dollars A YEAR for an occasional coffee and bagel. Oh, you don't do that? How about the expenses of a Big Gulp Pepsi 3X a week? Yearly cost equates to...$143. Are you getting the idea? Think about how much you could save if you made your coffee at home, or iced down your own soda and took it with you....doesn't that sound like an easy saving solution? Not enough to get you to change? Imagine this: If you made your coffee at home 2 times a week for five years you could easily save $240. That bagel and coffee three times a week over five years = $4370. You could spend 14 days in Europe and live it up on the Rhine River! So, can you find a way to trim your budget a little more?

http://www.msnbc.msn.com/id/14377894/

Motivation is the key to success:

2006-07-21T18:33:00.000-07:00

The 13 Laws of Motivation:

The key to motivation is first choosing to move forward; it doesn't matter whether we are talking about cleaning the kitchen, a cluttered room, or creating a workable money management plan. Change most often arises when we are "sick and tired of being sick and tired". Some people live in a washing machine-- they create turmoil, get accustomed to the froth, twists and turns, and can't get out because they lack the useful tools and support. So, what do you do if you are on probation and need some help? You help yourself by asking questions and getting up and doing something about your challenges-- one at a time.

However, people who succeed at creating change, the same people you admire, don't wait to get to that point. They MAKE things happen, and they use positive energy to create more of the same. They know the secret is motivation! Think about it-- if negativity breeds more of the same, shouldn't positive thinking create more positivity? With that said, do you know what motivates you best? If you don't, here is your "toolbox homework"; use this list to identify your favorite motivation factors and use them to create positive changes in your life. By doing so, more good things will happen. Wouldn't that be terrific? . . . to create positive change? Who can't use more GOOD in their life?

When you create something terrific, something you weren't sure you could do, please get back to me by posting a comment here, or call me at the West LEARN Center. I would love to hear your good news!

1. The Law of Taste. Motivation comes from wanting something so bad you can taste it.
2. The Law of a Way. When you want something this much you can always find a way.

3. The Law of Leverage. Here are some questions that can give you leverage to get motivated: If I keep on going the way I am going, what will my life be like 6 months from now? In a year? In 3 years? In 5 years?
4. The Law of Music. Surround yourself with music that motivates you.
5. The Law of State. Being motivated is simply a state of mind and nothing more. Reflect on the times in your life when you were the most motivated. Notice what you were thinking, how you carried yourself, what you focused on, what you spent your time doing.
6. The Law of Trying. The three words used most often by the unmotivated are, "Well, I tried". Do a little experiment with me. Try to pick up the newspaper you are reading. Did you pick it up? You either picked it up or you didn't. Either one is an outcome, a result. Trying is not an outcome or result, it's an excuse.
7. The Law of Doing. Dare to do! What's daring about doing? Everything! Most people just think, wish, dream, or talk about doing. It's the rare person who dares to do.
8. The Law of Momentum. Motivation and momentum follow doing. Once you begin doing, something very interesting happens. Momentum begins to build, and things that up until now seemed insurmountable become the next challenge, that when accomplished, builds even more momentum.
9. The Law of a Kick in the Pants. We all need a kick in the pants from time to time. The enemies of motivation (laziness, distraction, feeling overwhelmed, etc) attack each one of us. A swift kick, whether from a friend, a boss, a family member, or best of all, from ourselves, can get us back in the game.
10. The Law of Desperation. Some people are only motivated by a sense of desperation. While it may work for some people, it doesn't appear to be a very successful way to live.
11. The Law of Inspiration. A more empowering source of motivation is inspiration. This is because with inspiration the motivation comes from inside us. Desperation usually comes from an outside source, and becomes a "have to". Inspiration is a choice we make, and is therefore a "want to", or better yet, a "get to".
12. The Law of Design. Have you ever considered what it might be like to design a life? Most of us get so caught up in making a living that we never think about designing a life. So, consider the question: "What would motivate you more, making a living or designing a life?"
13. The Law of a Dream. Most people remain unmotivated because they are not pursuing a big enough dream or have no dream at all. If you have a big and compelling enough idea, the motivation will come naturally.

So, what do you think? Are you ready to commit yourself to making a goal come true? Choosing to move forward really is such a relief. If you think about it, trying is weak isn't it? Doin' feels soooo much beettterrr! Remember, "If we keep on doin' what we always done, we'll keep on gettin' what we always got." What is it that you want? All you gotta do is 'choose'.

My Story - My Journey:

2006-07-21T12:43:00.000-07:00

I have discovered that if you want to learn anything really well, teach it to others. I have experienced many things in my life that point me to this answer; math, the ocean, and money management.

First, up until my thirties I was terrible at math. But then then I became a teacher and had to work with math everyday. I am no longer terrible at it, and am quite comfortable working with numbers and equations. Second, while I have always loved the water, and the ocean, I was afraid of the unknown - what was beneath the depths of that massive mystery? Yet when I learned to scuba dive, I discovered the ocean is not dark and scary - it's full of light and beautiful things.

So, how does this pertain to money management you ask? Well, it does; money can be scary, and many of us may think of it as "one more thing I gotta do - have to learn about". The fact is - "time is money". If we are not working, we probably aren't making money, which pays the bills. But isn't a good education critical to making money? Ahah! Yes, we teachers are full of analogies; it's how many of us "get through" to our students. I figure I am not that much different than anyone else about learning new skills; at first, new things are scary - there is a "fear" of not thinking you can learn something well enough to be able to use it, let alone to be able to teach it. Well, like jumping off a dive boat for the first time, sometimes you simply need a good push. For whatever reason, you are here. So, whether you were court ordered, or you heard about the workshop and asked to be enrolled, you are here. Make the best of it, and then some! You will come away with at least one new skill that will make you a better money manager.

My motivation to learn about budgeting was simply about "getting older". Yes, as you get older you start really thinking about retirement - you ask yourself how you feel about someday being a Wal-Mart greeter (I think it's great, but only when it's "a choice"). The path to wisdom finally was widening to my door.

But, my biggest push into the cold depths of budgeting wasn't age, it came from my supervisor. She asked me to develop and teach a class on money management to adult probationers. I said to myself, "Why me? I'm awful at managing my own money!" But then I considered how would she know that? Hmmnn. I told her my philosophy on money was to always have an extra $1000 in my account (so I wouldn't bounce a check). That didn't seem to matter. I think, for whatever reason, she was set on me teaching this workshop. I have since had many sleepless nights trying to learn all I can, while seeking for a more enjoyable way to learn about money management. I kept pondering how to teach such a dull subject (to me) because "if I don't like the topic, how can I expect anyone else to like it." You see, I have been a decent "saver", but I have never taken the time to teach myself about money management. "How do you make more money, when as a teacher, you don't make much to begin with?" Like others I had learned from my parents to dedicate myself to whatever profession I chose, work hard, and save money in case of an emergency. Other than helping me open a savings account when I was about nine years old, my parents didn't teach me much else about money. In fact, I think in some strange way, I fear money as it creates more work for me.

When I was putting together this workshop, I kept thinking about that...that perhaps there are others like me. No one taught us about the subject, and it wasn't taught in school... "So it must not be THAT important" (do you feel a light bulb moment coming on?). I have spent a full year learning about money management. The more I learn, the more I dislike the term "budget". I find most people do. But we have to remember that it's JUST a word; and although it has a negative connotation to it, it shouldn't. It's a tool to help us move forward. The fact is, most of us don't have enough tools in our educational toolbox.

Months later, I know the answer to my biggest question - "How does one make more money without switching jobs?" We simply TAKE BACK THE CONTROL! We choose to spend our money the way we truly desire to. There are so many people out there trying to take every penny we work so hard for - and we let them take us for a ride! Advertisers, companies vying for our business, banks, creditors -- we let them take our money so easily - it's pathetic if you think about it. They put cell phones in celebrity's hands so that we will NEED that same phone! Come on--we just need a phone for communication...we don't need to buy a new one every year! But those companies are vying to get you to do just that...they are betting that you will fall for the slick tricks. So, what do you want out of life, out of your hard work, sweat, tears? Do you want more, or less? I want more...thank you very much. I choose control, and to make my money work for me, not againest me.

Show Me The Money! is packed full of information - more than you may feel you need. But I promise, there will come a day when you find every bit of it useful. In the workshop evaluations, the students in the first group told me they needed more of, "The Way To". So, that is what I am trying to give you all - more useful tips. The first step is is that you must first believe this subject matter is important, and then you must choose to move forward. I found a website for you "true learners" and for the "wanna be learners". It has useful information for you to pull from, BUT ONLY if you really want to make changes in your life. If you are having a tough time getting started, my website and Steve Pavlina's are good places to look for encouragement. I have not studied it all, but let me know what you think of it: http://www.stevepavlina.com

So, come back from time to time and see what is new. Don't forget, if you need some help, or if you lost your motivation, contact me or re-read "The Laws Of Motivation". Inspiration is at your fingertips. But it's up to you to put things in motion, and keep your enthusiasm up. Surround yourself with people who want to the same. Good luck on your journey to a more enriched life!