MoneyWiseWomen

A Financial Minute with Jenifer: Forsaking All Others

When is financial infidelity a good idea? How about never? Now before you go looking for exceptions to this bold assertion, let me clarify what I mean--and don't mean--by the term.

Financial infidelity doesn't mean the odd occasion where you neglect to inform your partner of a purchase. What it means is intentionally sneaking around, lying about, and avoiding what concerns you financially. In short, it includes any behavior that is unfaithful to the principles with money to which you have jointly committed. And it's never a good idea.

Saving for College

Since State Farm* has entered into the field of financial services, I'm talking with more families about planning for the future. While families almost always want to talk about retirement, their most immediate concern is saving for their children's college education.

This is wise. College education will, in most cases, be a family's second largest expense after home ownership, so it deserves careful planning. rising college costs make saving even more important.

A Financial Minute with Jenifer: Free to Be

As I work my way around the country, I ask people, "What do you want money to bring you?" and invariably someone says "Freedom."  When pressed for details, they usually explain, "The freedom to go where I want, when I want."

A Financial Minute with Jenifer: Who Do You Need To Be?

Many professionals I meet, when they discover I'm a Financial Success Coach, will ask me, "What do I need to do to make more money?"

I have the distinct pleasure of coaching some very high earners, and rather than ask how much more they need to do to meet their financial goals, they focus on who they need to be - what areas of their personality they need to develop or change to reach greater levels of accomplishment.

A Financial Minute with Jenifer: OM

Chanting. Meditation. Prayer. All over the world, people are lifting their voices and thoughts to the heavens to raise their consciousness, improve their circumstances and be of better service. Somewhere inside, they believe they are meant for more than their struggles may point to. When that internal confidence is at its strongest, so, too, are the results.

It is important to create a physical environment of financial success; today, we will build the internal environment - the mental focus you need to accomplish your goals.

We’re going to develop a more specific, guiding "Money Mantra", a statement of purpose, intention or belief that supports you in your financial endeavors.

The Bucket List

I recently went to the movie The Bucket List with Jack Nicholson and Morgan Freeman. It's about two men who are dying. They rite down the things they want to accomplish before they "Kick the Bucket" and then they set about doing everything listed on their bucket list. Some of the things they did was visit the Great Wall of China, the Pyramids, skydive and drive race cars.

Morgan Freeman challenged Jack Nicholoson with two questions:

1. Have you found joy in your life?
2. Has your life brought joy to others?

A Financial Minute with Jenifer: The Art of Happiness

In reading “The Art of Happiness,” by H.H. The Dalai Lama, I was reminded of the distinction between happiness and pleasure. True happiness is something we cultivate from within, and therefore it brings a deeper sense of satisfaction. Pleasure is fleeting, and, by that nature, feels like something we need to repeatedly chase in order to experience it.

That's not to say that pleasure is necessarily a bad thing, but it is a danger when the pursuit of it runs our financial lives, when we literally buy into material things as a substitute for getting in touch with what really makes us happy.

Ever Play the Blame Game?

It’s easy to blame other people or circumstances for the results you create.  We’ve all been there.  In working with clients throughout the country I hear people blaming bosses, colleagues, the weather, their spouse, their banks and their pets for the “failure” or unfortunate circumstances they are in. Your challenge today is to realize that you, and you alone, are solely responsible for your results.  Period.  Not your parents.  Not your past.  Not your doctors.  Not your children.  Not your spouse.  Not your bank.  Not your boss.  Not your siblings.  Not your friends.  Not your coach.  Not your pets.  You.  You alone are responsible for your life, your attitude and your results. 

Playing the Lottery or Investing in the Stock Market: Which is the Bigger Gamble?

By Karen Ramsey

Oh the things you could do if you won a million dollar lottery jackpot! Luxury vacations! New cars! Early retirement! The dreams of how to spend the potential windfall of a lottery jackpot are themselves almost worth the price of the $1 ticket. For most people, unfortunately, dreams end up being the only thing that a lottery ticket purchase affords them. Reality gives way to the long odds of the lottery. Rare is the opportunity to stand in front of a crowd of flashing cameras while holding a giant cardboard novelty check filled with dollar signs and zeros. How rare is it?

Simplify your Christmas

“Last year I woke up the day after Christmas and I was so tired I just wanted to cry.”—A young mother of two from Boston (excerpted from the book, “Simplify your Christmas” by Elaine St. James)

Do you have a hunch this might be your experience this Christmas season?

Are you already feeling the weight of exhaustion with a mounting list of things to get done?

Are you anxious about your bank account as you slide your credit card through the machine to charge just one more “must get” Christmas gift?

What would it mean to simplify your Christmas?

A Financial Minute with Jenifer: The Cost of Saying 'No'

How do you know when not to say 'no' to a financial investment in your personal development?

Some people invest in themselves based on how much money they think they can afford to spend or lose. Some say 'yes' as long as the options fall within a certain price range; others throw caution to the wind and hope the decision turns out for the best.

But how about developing a personal growth budget by starting from an exceptionally well-defined outcome?

Save Childcare Money For Your Child's Future

The cost of childcare for preschool age children can be one of the more significant expenses parents face. While childcare expense may be unavoidable in two-income households, it can represent a significant increase in discretionary income once the child begins elementary school.

Future Dreams Take Financial Planning

I have never met a mom wno wasn't working--or any other woman, for that matter. More than ever before, women are handling their own or their family's finances. It's not about what you have; it's what you do with it to secure your future.

We all have unique needs and resources, but everyone wants to protect what they've worked so hard to acquire. It's all about taking what you have, making the most of it, and building a solid financial future that is uniquely yours.

Don't Rely On Others For Your Retirement

Recent debates about Social Security and the increasing number of employers reducing or eliminating employee pensions have underscored the need for a sound retirement plan. Gone are the days when employees were guaranteed a percentage of their salaries once they leave a company. While Social Security may or may not change, it was never intended to be the sole source of retirement income.

Looking for Some Inspiration to Stay Connected To Your Vision and Goals

I just finished writing a post about Paul Potts on my own Knee Deep Blog which is a must go see but only if you are looking for pure inspiration and perhaps are ready to share a tear or two.

Paul Potts is was your every day kind of guy mostly waiting for some thing to happen but not doing any thing about it other than thinking about it - then he took one step that changed his life.  On a flip of a coin he entered Great Britain's Got Talent (BGT).  This one simple action of filling out a piece of paper and mailing it in has changed his life forever.

This past weekend I lead a break out session on Goal Setting for Financial Success and Prosperity at the Poulsbo Money Wise Women Conference.  We really focused on getting clear on your most important values and your big picture vision. Knowing what you most value helps you connect to the "reason why" you are taking actions - the reason why is what fuels you, it is also known as your passion.

Financial Literacy: Survey finds young adults are optimistic about their financial future

Financial Literacy:
Survey finds young adults are optimistic about their financial future

How confident are you about your financial future?  A recent report detailing the State of America’s Financial Education (SAFE) shows two-thirds of young adults and recent graduates are optimistic about their financial outlook despite the country’s economic difficulties and their present state of financial readiness. 

Living Your Wildest Dreams? (Part 3 of 3)

In recent weeks we’ve discussed what it takes to create the life you truly desire (part 1 and 2).  You can be ambitious and have a great attitude but nothing will happen until you take action! And action is what we are talking about this week! Three things to think about: 1. Inaction is still an action.  2. Mediocre actions create mediocre results.  3. Courageous actions create excellence!

In most cases, what holds us back from taking courageous action is a four letter word, f  e  a  r.  It’s scary.  Sometimes paralyzing, isn’t it?  But guess what fear is?  Fear is False Evidence Appearing Real.  That’s so insightful I am going to repeat it.  False Evidence Appearing Real.

When we chose to jump, in spite of the fear, we build courage. We build confidence.  With more courage and confidence we become more ambitious, more excellent!  Living in excellence is about feeling the fear and jumping anyway!  JUST JUMP!

Seven Strategies for Saving

Are you doing your best to save for your future? It can be very challenging to begin a savings program. After necessities such as food, clothing, and housing, there can be little left to put aside for future goals.

Unfortunately, failing to save could mean the difference between enjoying a comfortable retirement and giving up some basic needs. Often it is a matter of making the decision to begin saving now in order to buy a new home or car later. The goals you set are important to you. Making changes to prepare for those goals can make a difference.

For that reason, State Farm(R) has taken a look at various ways to get a person's savings plan on track. We've come up with seven strategies that you can use today.

Living Your Wildest Dreams? (Part 2 of 3)

Last week we discussed the three critical elements of living your wildest dreams:  Ambition, Attitude and Action!  Last week, we discussed Ambition.  This week, our focus is on Attitude.  Having ambition is great, but if you don’t believe, the odds of excellence are against you.

Living Your Wildest Dream? (Part 1 of 3)

     Are you living your wildest financial dreams?  If not, I bet you attribute it to a lack of time and money to make it so, right?  Whether I'm speaking to a group of Entrepreneurs, Stay at Home Moms or Management Teams, my message is exactly the same:  To achieve your wildest dreams, desires or goals, you simply need to incorporate and focus upon, my three elements of excellence: Ambition, Attitude & Action! 

     

Perception is Not Reality

When it comes to American families and financial planning, perception is not reality. Although they are overwhelmingly optimistic about their financial future, their financial planning habits paint quite a different picture, according to a recent sudy commissioned by State Farm Life Insurance Companies and conducted by KRC Research.

Never, never, never give up

This weekend I watched the movie, The Pursuit of HappyNess -- an inspirational and amazing story. It's about Chris Gardner and his pursuit of a better life for himself and his young son. Chris wants to become a stock brocker with Dean Whitter and sets about making it a reality.

Do You Have a Road Map For Your Financial Future?

Many of our dreams are dependent upon the choices we make throughout our lives.

That's why planning carefully and making smart choices will help ensure you realize your financial dreams and goals.

Are you saving for a child's college education or a new house? Dreaming about starting a new business or hoping to retire by age 55? Whatever your financial goals and dreams may be, you need a road map--an action plan--to help reach your destinations.

Don’t Get Stuck On The Side Of The Road…In Case of Emergencies – The Contingency Fund

By Karen Ramsey

There you are, in your car, on the side of the road in the rain with a smoking engine, no transportation, and no cash to pay the car repair bill.  Has this happened to you?  Welcome to the club!  Too many of us have had unexpected emergencies and empty pockets.  How do we prevent this?  With a little trick called the “Contingency Fund”.

Set Goals & Stick to the Plan!

I recently asked 25 people, professionals and otherwise, if they had set any goals for 2007.  Its nearly June, I assume they had something down on paper.  But to my surprise most had not.  I find this interesting; how do these people hold themselves accountable and do they ever reward themselves for achieved goals?   I doubt these people are walking around with no intentions whatsoever.  In fact, a lot of them are quite successful in many different aspects of their lives.  In asking this, however, I realized that many people fail to fully take control of their lives. 

I am big believer in goal setting and every year I take myself through the process of setting ten goals for the following year. You can still do this – even in June.  It’s never too late.  I suggest setting a personal, career and financial goals as well as rewards for goals achieved. Of course, as an organizer I recommend not buying more stuff as an award, but giving yourself the gift of time like a massage, a pedicure or a cooking class.