What if Conventional Money Teaching is Training us to be the 3rd Servant?
What if Conventional Money Teaching is Training us to be the 3rd Servant?
If you learn how to manage your pennies, you can also learn to manage a whole lot of money. Which would you prefer: $1000 per day for 30 days of a penny doubling for 30 days? Do the math and you’ll quickly discover how the small things repeated consistently produce the biggest results in the shortest amount of time.
This is the theme of the Power Money Course. Order yours today to find out what those ‘small things’ are for you to realize your own $1000 per day (or more or less depending on what you really need to pay for the life you’d like to live).
In order for goals to be achieved they have to be able to be measured. When you set a fitness goal, for example, you wouldn’t say, “I want to be in better shape” because the term ‘better’ is subjective and not measurable. Instead you would say something like, “my goal is to weigh xx pounds, with xx percent body fat, and be able to run xx distance in xx time or less by xx date. When you fill in the ‘xx’s’ you have something concrete and measurable to work towards and a way of keeping score. If by the date you set, those specific targets have been met, then you will have reached your goal to be in better shape. This works because you determine what the ‘rules of the game’ are and how the game is won. This means that you will also be the one who will keep score during the time between setting the goal and the date you determine the game to be over.
Once you fill in any one of the measurable results that will ultimately determine whether you have reached your initial subjective goal of being in better shape, you start creating the foundation which will help you build towards the realization of your goal. Your initial idea starts to take shape as you get more specific on what the concept of ‘getting into shape’ actually looks like.
This is exactly what happens with money. The initial idea for most people is that they want to be able to live a life unencumbered by money. They don’t want to be inhibited in any way because of a lack of money to follow through on their desires. In actual fact, what they’re saying is that they don’t want to be limited in any way because of a ‘perceived’ lack of money. I say ‘perceived’ because until you know exactly how much money you’re looking for and when you require it by, the overall concept of more money starts will continue as a subjective idea.
Typically what people are after with this subjective concept of ‘more money’ is a sense of financial freedom. Financial freedom will be very different for everyone though. This is why it’s so important to start determining in dollars and cents what the criteria are for measuring what financial freedom is for you. My dollar figure will be different than your dollar figure because we have different values, beliefs, goals, and life circumstances. The strategy of measuring the different aspects of your goal is the same for everyone because this is how you determine what the rules of your game and how you play the game (the activities and income creating strategies you’ll apply), ultimately how you keep score and whether you win or keep playing.
In finance, the ultimate goal is financial independence, not just financial freedom. Financial freedom can actually be experienced at any time regardless of your financial circumstances because it’s essentially a state of mind. Financial independence, on the other hand, is specific and measurable because it’s the situation where your passive income exceeds the amount of your monthly expenses.
Passive income is of course, different than active income. With active income you are using your time in order to generate income to support your lifestyle. As you plan and implement your financial plans your objective in ‘playing the financial game’ is to use your active income to create assets which create passive income which enable you to create more assets which create more passive income etc. Passive income with eventually be generated from your assets in an amount that exceeds your lifestyle expenses.
This means that you have to know what your monthly expenses will be when you’re not actively earning income. The concept means you start by understanding exactly how much money you’re going to spend each month. This is not a subjective concept about living a sort of ‘magazine; lifestyle. How much exactly will it take for you to live whatever income you truly see living for yourself. In order to establish this you’ll have to do some research and develop some skills in order to be able to take a capital expense (a purchase such as a house or furnishings or car or clothing, etc) and turn it into a monthly income figure. When you do this you are now thinking financially, rather than subjectively or with simple math.
Financial math includes the factor of time. Simple math on the other hand, is not as dynamic and tends to involve only basic formulas for addition, subtraction, multiplication and division and percentages. The missing component necessary to take you subjective idea and be able to turn it into something that is measurable and manageable is time. This means that if you are starting today and you have defined the monthly passive income objective specifically, then you have to know ‘when’ you plan to have that income in order to discover and implement appropriate activities necessary to ‘win the game’.
In fitness sometimes there are calendar dates which assist in setting goals. Often these are personal such as birthdays, anniversaries, or special events. In fitness, if you plan to attend an organized event then dates are pre-determined. You just have to make sure you allow a reasonable amount of time for training. Without a specific date you might still get in better shape, but your activities are less likely to be as focused so reaching your target can happen whenever.
Because setting goals creates a gap between where you are and where you want be, this is why people find it easier to simply talk about goals from a subjective perspective if at all. Then if they do start to test the waters of goal setting they are cautious to make sure that what they’re doing is ‘realistic’. What this means is they’re afraid of being disappointed so they attempt to reduce the size of the goal to make it seem more likely. This can be a good strategy, however, it can also be limiting.
In my experience, the concept of setting a dollar goal is significant enough to cause stress enough that people don’t bother following through, so the idea of putting a date on their goal which provides the key to the overall strategy and therefore overall success is simply ignored or treated with the same subjective manner as the initial concept of ‘more money’ and ‘financial freedom’.
So how do you determine an appropriate date for the realization of your financial goals? The ‘easy way’ and ‘quick fix’ with a lump sum of money isn’t the answer since you’re looking for measurable activities you can do in order to create assets which create income – not windfalls. If along the way you happen to receive a windfall then consider it a bonus point. Your primary focus is to us your skills and expertise and all your resources in order to create passive income in an amount necessary to pay for your personal lifestyle expenses.
The following are some specific questions you can ask yourself to help you determine when your ideal monthly passive income budget will be reached:
1. Are there any life events that make a transition in your life such as getting married, having kids, kid graduating from school, turning 30, 40, 50, 60, 70, etc…
2. Are there any significant priorities or causes that need your time that you’re not able to devote the time you’d like to today because of financial constraints? How important are these issues to you? It’s one thing to say that something is really important to you and another thing entirely to be confident enough to follow through with the necessary activities. How much time on a daily, weekly, or monthly basis do you have to commit to implementing a strategy to create passive income for yourself without it interfering with your current priorities?
3. Is there anything in your life today that could create an obstacle to change that has to be dealt with first? Examples could be work or family commitments that have to be streamlined in order for you to have some more time and energy before being able to invest a significant amount of time into developing anything new. If there is then when will you be able to make the change to create the time and space to develop new projects and systems? Or, what has to happen before you will be able to dedicate any significant time towards anything new?
4. Are these ‘real obstacles’ or are they feelings of obligation or something you would feel guilty if you didn’t do?
5. Is there some amount of time in your schedule that you could devote to something different, but you’re hesitant because you’re afraid of not following through even with a little bit of energy directed towards change?
6. If you knew for certain that your income plans would succeed exactly as expected, and all you had to do was come up with the plan, then what date would you set for your goal to be realized?
7. Can your plans be multiplied? For example, if you would like to achieve the $5000 in passive monthly income in 2 years instead of 10, then could you identify an income producing project that provided you with the initial $100 then duplicate then seek to duplicate that effort through multiplication? For example, If you were able to set up a system to create recurring orders for a product you were marketing, could you do this for 5 products within that year? Or, what if you developed a strategy to invest in positive cash flow producing real estate and each property provided you with $100 per month in positive cash flow. If you wanted to accelerate your results, then your question would be, ‘how can you duplicate your effort’? The simple answer to the real estate example could be to purchase multi-unit buildings.
There are certainly other possibilities, the point is that it is the combination of all these personal things that come together to determine your plan: values, priorities, causes, desires, interests, money goal and TIME to fund your desired lifestyle. The plan and activities to bring it into reality is developed based on all these criteria.
The significant information that you need first is what your monthly income target is and what is the date you intend to have accomplished your goal? These 2 pieces of information are required before you can select the activities, not the other way around. Sorry, it just isn’t as effective. Our job is to do what we can with our goals set in stone and the plans in sand. This way, quite honestly, you have set up a foundation to connect God, money and real life so God can do what you can’t. It all just takes a shift in thinking, and certainly requires a commitment, to follow through regardless of delays, disappointments and uncertainties. But ultimately it’s your life. If you’re not willing to commit to following through, then that’s ok: just make sure you recognize that you’re playing a different game and don’t ‘try’ to win a game you’re not prepared to fully play. You don’t have to have all the specific plans mapped out as long as you know how the game is won; in finance that means the time and the money. The rest will fall into place as you pursue the activities taking you in that direction.
PS – There is also an expanded version of this article in the MoneyMinding mVillage online resource. You can access this resource by registering for access to mVillage here.
(c) 2013 Tracy Piercy, CFP. If you like this information and are interested in reprint information for your business please call me at 250-592-0457 (pacific)
47 During the seven plentiful years the earth produced abundantly, 48 and he gathered up all the food of these seven years, which occurred in the land of Egypt, and put the food in the cities. He put in every city the food from the fields around it. 49 And Joseph stored up grain in great abundance, like the sand of the sea, until he ceased to measure it, for it could not be measured.
53 The seven years of plenty that occurred in the land of Egypt came to an end, 54 and the seven years of famine began to come, as Joseph had said. There was famine in all lands, but in all the land of Egypt there was bread. 55 When all the land of Egypt was famished, the people cried to Pharaoh for bread. Pharaoh said to all the Egyptians, “Go to Joseph. What he says to you, do.”
56 So when the famine had spread over all the land, Joseph opened all the storehouses and sold to the Egyptians, for the famine was severe in the land of Egypt.57 Moreover, all the earth came to Egypt to Joseph to buy grain, because the famine was severe over all the earth. Genesis 41:47-49,53-57
The story of Joseph has been told so many times and offers so many lessons that sometimes it’s easy to think we know the story and that’s that. However, when you stop learning you become complacent and ineffective and self-centred – not exactly qualities of following God’s will.
A couple of years ago I was asking the Lord for some insight to why the commonly accepted financial wisdom was to accumulate money for the future (not that this is bad, it’s the emphasis on it for retirement that is perplexing) He lead me to the story of Joseph and revealed some interesting principles that address so many financial issues that cause uncertainty for people today.
Typically the interpretation of what Joseph put in place in Egypt after interpreting Pharoph’s dream of 7 years of prosperity followed by 7 years of famine is that the Egyptians saved up the food during the good years so they wouldn’t starve to death during the famine. It’s interesting to note that the passage doesn’t mention any fear running out or not having enough, nor does it mention storing the food just for the Egyptians.
What the passage actually says is that the Egyptians produced the food from the land and it was collected and stored in the cities throughout the country. When the famine came, the Egyptians sold the food locally and to people who came from abroad. Producing the food from the land, meant they processed it in some way and selling it meant they created income from their efforts. In this way, what they created was a sustainable economy.
It seems to me that God provided fruitful land from which the Egyptians could work together at the local level to use their talents to produce goods that benefited them and others. Because the produced food was available in cities throughout the country they had a distribution network so the produce was accessible to and beneficial to many people.
Today to produce abundance means despite an apparent lack or gap I resources, means you have to first focus on the prosperity that you do have available, then find a way to produce something of value to others; particularly something that is essential and consumable. Then work with others to create a system to sell your goods. This is the entrepreneurial spirit of infinite possibilities that creates abundance, rather than stockpiling for personal survival with a concern that you might not have enough or might run out. Your plan doesn’t have to be huge with a worldwide audience, it just has to start with a mindset of creating a sustainable income in your personal economy by considering the needs of others as well as yourself.
You can read more about the consequences of our current thinking around personal finance following the accumulation model in The Death by Money Report available at www.deathbymoney.com
In the past few days I’ve received a few related articles on the impact of debt on retirement and the stress it causes. Here are a couple of the recent ones: Majority of Retirees Carry Debt and Boomers will Retire in Debt.
Before I carry on though, it’s important that you understand that this discussion is not to be interpreted as advocating reckless spending. I have to begin with this disclaimer because money and debt have such strong connections to negative emotions that it’s critical to pre-empt any mention of anything slightly unconventional with the caveat that there are proper strategies for all of this and that money isn’t something that most adults received a foundation of knowledge in. Dealing with financial matters requires good communication with financial professionals, but professionals are not money counsellors, or teachers, and most of this isn’t part of the standard financial curriculum in any case. You need to do your part in understanding your options and work with professionals to implement the plans!
What is so upsetting about this emphasis on debt reduction in favour of asset accumulation is the seemingly absent recognition that consumer spending and consumer confidence fuel our economy. The continuous emphasis on ‘get out of debt’ so you can save a big pot of gold so then you’ll have more money to spend is only a half truth.
We actually don’t need savings – we need an ongoing source of income to provide for our basic lifestyle needs and other opportunities and emergencies that come up along the way. The fuel for spending is income. Income can be generated in many ways, yet the conventionally accepted view is that income is a more or less static variable in the financial planning process and that providing for financial needs after work will come from selling off assets (the accumulated pot of gold).
I am not aware of anything more stressful and unsettling than to life day in and day out with a nagging voice of doubt that maybe you shouldn’t be spending money on this or that because you have to get rid of the debt and add to your savings.
This commonly accepted view not only creates uncertainty, it also creates an environment where the scarcity mentality it feeds is prone to inappropriate financial decisions, bad investmenst, and isn’t generous towards others and social causes.
The lessons we’re teaching our young people who are watching their ‘retiring parents’ is that its perhaps better to not even ‘try’ to do something significant because the cost to get there is going to be too high and they ‘won’t be able to afford it’. (check out the CBC report on ‘Olympic Dreams and Olympic Debt’). Instead of pursuing worthwhile dreams, many people simply resort to a life of silent bitterness or resentment where they slowly become more and more self-centred and fearful of running out of money and not being able to support themselves.
This self-centredness becomes a distraction for a whole range of social issues because people go looking for an outlet – hmm, look at how sex has become so commonly accepted in mainstream media. People look for a way to manifest their desires somehow. Unfortunately, we are fed a constant stream of enticing images and messages about how to fuel some sort of desire we might have forgotten about or not realized we had with some kind of material good. Of course, the fulfilment of desires through possessions has an economic advantage to the business selling the goods and on some level will fulfil needs and desires of the person purchasing so there is certainly some benefit to the marketing information – until, however, the reality sets in and guilt and fear occupy thoughts with no end in sight other than further denial. It’s a cycle that isn’t good for the individual, for the family, for our communities and for our entire economy.
So what’s the answer if it’s not go ‘cut back spending, to get out of debt, and to save a bigger pot of gold for the fairyland called retirement’?
The answer actually isn’t rocket science but seems to be a huge struggle for many people because they have grown up in this culture of self-centred financial support which focuses on getting a good education so you can get a good job, then learn to manage your money on your own once you’ve got the job.
It seems that conventional teaching has completely left out the fuel for the entire plan which is the creation of income. There are many many ways to create sustainable incomes besides a job or two or three. It doesn’t take a big pot of gold for you to be able to retire and create more income from your investments, it takes independent thinking that knows the difference between earning less than you spend, and spending less than you earn. It also takes financial confidence to know how to maximize the effectiveness of your finances so you are ‘leveraging’ all your assets including access to credit, to create sustainable income that creates wealth that creates further income and so and so on.
We have to realize that getting out of debt by cutting back spending will actually reduce our freedoms, lower our standard of living and NOT provide the peace of mind or independent thinking that will assist in creating the extra funds for the additional spending money you’re looking for to satisfy your personal interests, desires and higher causes.
Remember, I didn’t say to continue to spend recklessly and to hold on to high interest non-deductible debt or to just spend on selfish desires. I’m saying that the way to win the war on debt and to create financial independence that will enable you to choose to leave work if you want (ie enable you to retire) is to learn how to earn sustainable income, to manage that income and all your other financial resources effectively (not just by looking at interest rates and rates of returns), so you can maintain your personal economy, while also helping others and ultimately our entire society!
To find out more about how a $10 solution can save your financial life, visit www.deathbymoney.com to order The Death by Money Report. To Read my specific responses to these and other similar media articles become an mVillage member to read and respond and comment on this important issue. To find out about live, personal and one-on-one MoneyMinding Mentoring please contact me directly at email@example.com to see if this exciting new concept is right for you!
The definition of financial planning is ‘efficient use of resources’. Unfortunately the concept of resources seems to be commonly accepted to be a scarce resource that needs to be controlled so you don’t lose it. An underlying values system that generally accepts money as something that is risky is indicative of a fear of losing this ‘scarce resource’. On the other hand, a view of money that understands its unlimited potential will approach day-to-day spending, investing, and financing decisions in a completely different way. Interestingly, either view will usually result in reinforcement of the initial belief making it extremely difficult to recognize the missed opportunities that could have been if a balanced and integrated perspective had been implemented instead.
The fear based, scarcity decision approach is indicative of the lack of foundational financial knowledge of our adult population. Unfortunately financial basics like we received in reading, writing and arithmetic were not part of a school curriculum because it wasn’t necessary 30-50 years ago. This lack of training also unfortunately means a lack of respect and a misguided belief that the ad-hoc, trial and error, and hearsay learning is all that’s necessary. This belief is especially unsettling when it is combined with an assumption that if someone has achieved a certain level of wealth that those people are the best teachers in the area of money. Perhaps, but not necessarily.
Every situation is different and what someone else did to create wealth is not necessarily going to be applicable for everyone else. Wealth creation is a very personal, emotional and situational subject, particularly when the financial marketplace is changing so dramatically and so quickly. Experiential learning is obviously extremely valuable and can result in seemingly solid financial situations, but more often than not it can also result in misguided strategies and result in missed opportunities, often that the unsuspecting person doesn’t even realize where they could have done better. The missing key is the basic knowledge to know what questions to ask of the professionals who will be providing the specific financial products and strategies for each unique and personal situation.
This means that within our families, organizations, and communities, we have to realize that the world or money has changed; that it is a very complex technical industry requiring specialized knowledge, training and expertise and that the average person has a responsibility to know what’s important to them so they can communicate their needs effectively to financial professionals to get answers. It is certainly not prudent to expect a financial advisor to do it all for you, nor is it prudent to think you can do it all yourself. Financial decisions, like medical decisions, are very personal and emotional and require a lot of understanding of a multitude of variables which require individual attention and often multiple financial experts. The personal competence and confidence when making decisions are what financial experts are not trained in or compensated to provide for you.
This also means that to benefit from a balanced and therefore efficient use of financial resources an awareness of personal beliefs and priorities is the most important step. This will help you find and communicate effectively with the professionals who have the technical ability to implement strategies and plans for you to experience goals beyond what you might have originally thought possible. It’s also critical to recognize that money is not a scarce resource and that risk (or loss) is something that can be managed. This again requires appropriate knowledge and skills to work with the professionals to earn, manage and maintain your finances efficiently.
Here are a couple examples of how knowledge (or lack of it) can potentially limit opportunities that on the surface might have previously appeared prudent, or risky:
1. Assume you have $10,000 in cash and you have a $10,000 balance on a credit card. One strategy for these 2 resources would be to take the cash and pay off the credit card. This certainly makes sense because likely the interest charged on the credit card will be higher than what you’re getting on savings. Another strategy would be to invest the $10,000 to try to grow it into more money because ‘it’s nice to have money in the bank.’
However, how many people would consider using the $10,000 cash to pay off the credit card, then taking the $10,000 available credit and investing it into a wealth creating opportunity such as a business, investment, real estate project? There are potential tax benefits to doing this as well as the potential flexibility built into your financial situation. Plus, if the wealth creating opportunity generated ongoing income which would cover the credit card payments and provide additional income for the investor now your money is working to create more wealth. Not to mention that you would still get to experience the ‘money in the bank’.
What if the $10,000 available credit was used as an investment along with others and meant that your pooled money could access even more potential because collectively your funds were able to purchase a larger investment, property, business program?
In either of these 2 scenarios, your use of the $10,000 could enable continued growth and wealth building that was efficiently using resources in a useful way where not only your situation could benefit but potentially others as well. Obviously there are some critical skills and knowledge and loss protection strategies that would be considered in using your financial resources in this way, so this is certainly not to advocate that this is the right situation for everyone. It’s an example of how viewing money from an unlimited perspective requires development of additional foundational skills and knowledge in order to confidently and effectively take advantage of an integrated strategy such as this.
2. Now consider an example of what a situation could look like if you have enhanced your skills, knowledge and confidence and now have $1,000,000 available cash. One thing you could certainly do with the money would be to invest it into businesses (through stocks), or into real estate. If you bought real estate for yourself with the money you could then own your home which is certainly a high priority for most people. However, if you were considering an investment, you could purchase a property and receive rental income. This is now good for you and for others. However there is a considerable amount of missed opportunity and flexibility and therefore added risk with these all-or-nothing approach.
If you instead combined various financial resources, and pulled together proper legal, lending, investing, insurance, tax and loss protection strategies, your situation could effectively provide a more stable and abundant financial plan for earning, managing and maintaining your wealth plus providing opportunities for others.
You could potentially take a percentage of your $1,000,000 (say $250,000) and purchase a property worth $1,000,000 by taking a $750,000 mortgage. You could receive rental or lease revenue as cash flow plus you would still have the $750,000 additional cash to invest and be available for other opportunities or situations that might come up if the market or in your personal situation. You don’t have this flexibility or security with the ‘all-or-nothing’ approach.
Taking this one step further like we did with the $10,000 being pooled with others, if you took $250,000 cash and a mortgage for $750,000 to acquire a $1,000,000 property, you could potentially provide an opportunity of others as well by developing or expanding your property. This means, that with a smaller amount of money you provide diversification, opportunity, flexibility, security, and an overall efficient plan to create wealth not just yourself, but for others as well.
This is obviously not to say, that everyone should go jump into highly leveraged, creative investment concepts. Financial planning is about the efficient use of ALL resources, including careful review and planning of your personal circumstances, your knowledge, skills, and the professional advisors on your team. All these resources will either come together effectively to expand wealth and provide opportunities, or limit potential depending on your underlying belief. When money is viewed as a scarce resource it is typically from missing knowledge and skills or inappropriate application of partial knowledge. Either way, not taking advantage of all the resources available to you, or applying them in an inappropriate is usually because of a fear of not having enough, or fear of running out, or losing out. This means that even some seemingly good financial strategies can on the surface seem to be prudent, when in reality they are sacrificing future opportunities or exposing you to different risks. Flexibility and consideration of changing circumstances are important factors.
The critical consideration is to be aware that decisions based on fear of loss, or from an underlying belief that money is a scarce resource, are really pointing to a need for the development of financial skills and knowledge. With increased financial knowledge there is an ability to take advantage of opportunities through competent and confident decisions. There are infinite possibilities, and million dollar decisions start with the realization that we all have million dollar opportunities. Million dollar opportunities start by learning to ask different questions to fully understand the benefit of skills such as financial math, financial forecasting, loss protection strategies, integrative planning, values, community, and more. And when we do, the benefits will be experienced within your own family, your organization, your community and our society as a whole!
To read more like this and to uncover the proven system and strategies to evaluate opportunities to make decisions that are right for you, visit www.deathbymoney.com to read The Death by Money Report and to access my private members area, mVillage.
These short tips designed for information, application, inspiration, and overall positive results. To view others and to ask questions, comment, or get additional information on this or other area of personal finance take advantage of an mVillage membership available at www.deathbymoney.com.
The latest one is about identifying red flags as well as strengthening communication by writing what you understand. Be sure to click ‘like’ to spread the word!
Decisions made from fear are more focused on the potential loss, risk, harm, or missing out. Confident decisions come from applying the necessary skills and knowledge to analyze a situation from a practical, business-like position.
For example, if you have recently read something about investment fees and other negative impacts of active money management you could be tempted to convert all your investments to an alternate type. This same situation can happen if you experience a drop in the stock market and you’re tempted to pull all your money out and invest it in real estate or fixed income certificates.
Another common situation is the one where you feel that the amount you have saved is going to cause you to work for the next several hundred years in order to finally be able to ‘retire.’. In an attempt to alleviate this fear, you perhaps make a decision to take charge of your finances and start attending seminars on how to reduce your debt and increase your savings. The biggest challenge with this is that the overwhelming majority of seminars are offered by people who are selling a particular product to fit with the information they have just taught you, or they are people who do not have a professional background and are therefore presenting strategies that are from their personal experience (which is good), but won’t have the connection to the technical aspects of the financial industry.
This situation leads to decisions that are often made with partial knowledge such as looking at reducing interest rates on mortgages or credit cards, but inadvertently reducing your long term flexibility or ability to access credit. Credit scores are a complex serious force with far reaching consequences. Anything at all to do with credit must be carefully calculated and considered with expert consultants.
So what do you do? A solid financial foundation of skills and knowledge was not part of any formal curriculum for every adult trying to make these decisions today. Because of this, the knowledge gap isn’t even recognized so we have decisions that appear to make sense on the surface based on ad-hoc, circumstantial information, but ultimately require a leap of faith to implement. This type of decision making ultimately ends up being more like unconscious gambling, rather than a methodical, calculated, confident process that connects all the unique person circumstances to a desired outcome.
The first step is to realize that money is a dynamic, every increasingly complex situation, where decisions are not black and white. Because of this, the component of the decision making process that can be controlled is your own values, priorities, goals, interests, passions, and unique purposes. From here, the process of making decisions, implementing strategies and deciding on specific product solutions is a sequential balance of earning vs. spending; of saving vs. investing; of risk vs. reward; of growing vs. maintaining; and of the needs of today vs. the needs of tomorrow.
To find out more read The Death by Money Report at www.deathbymoney.com and plan to attend a Death by Money, Life by Faith interactive workshop. The next live one is June 7th at 7pm PST. Registration is required and attendance is by donation. firstname.lastname@example.org
Watch the TV interview with Karen Elgersma and I talking about the report here: http://www.youtube.com/watch?v=Y02bl1EaVcE
And, if you want to attend the Live Death by Money Workshop. Here’s the details:
Live in Victoria 6:30 pm PST coffee, 7:00 pm PST start for approximately 2 hours. Register by sending an email to email@example.com. Attendance by donation.
Broadcast online for current mVillage subscribers. mVillage is included free for 3o days with the purchase of The Death by Money Report. You can purchase it from www.deathbymoney.com. And register for further details by emailing firstname.lastname@example.org.
I’m sooooo grateful for the support of my amazing husband for his prompting and encouragement and help with this (and obviously many others too)!
For years – yes years – there has been a task allocated to administration that has been cluttering up my peace of mind. Tonight we sat down and looked at how long it would take to complete and what exactly was involved so we could get the help necessary to get the job done. Well, several hours later, we had enjoyed some quality time together including some nice chardonnay and the result is that a huge volume of material that has been sitting in mVillage (the MoneyMinding Membership community) that wasn’t easily searchable now is! This is still just the beginning of information that is currently available, just not picked up by the ‘search’ function. Well, for mVillage members, you can select your financial area of interest in the ‘search bar’ and all this content and waaaaay more is summarized for you.In one evening we were able to enjoy quality time together AND provide huge value to our subscribers. If you’re currently an mVillage member, then I encourage you to enjoy the ease of use you now have in accessing this valuable information. And, if you’re not already a member, then the easiest way to get started is with The Death by Money Report available at http://www.deathbymoney.com/. When you order the report you receive 30 days of unlimited mVillage access that is normally $19 a month.You can access this information easier now AND you can ask questions and comment on the information with your anonymous login! That means you don’t have to be intimidated by asking a question you think maybe you already should know the answer to. Remember the only bad question is the one not asked! Enjoy! And, hopefully some of this will also help you create some giant ‘check marks’ in your life as well as help you get financial results you didn’t know were possible!
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|THESIMPLE WAY TO INCREASE YOUR RETURN|
|Solving the Mysterious Case of Illusive Income|
|WHY GETTING OUT OF DEBT IS NOT ENOUGH|
|KEY STEPS IN PREPARING FOR RETIREMENT|
|Why We Need to Love Insurance|
|Who’s Fault is it Anyways?|
|Owning Your First Home|
|Managing Conflict of Interest in Financial Services|
|Narrow-minded View of Financial Literacy will Create More Problems than Solution|
|Is Lack of Financial Education Costing You?|
|Regulate or Educate?|
|The Real Reason “Not Spending” Doesn’t Work|
|What to Do When You Don’t Know What to Do?|
|Why Cutting Back Your Spending Will Lead to Failure|
|Confessions of a Shopaholic: Reviews Miss theOpportunity|
|Misconceptions About Multi-Millionaires and Their Money|
|Obama’s Paradigm Shift Won’t come from Old Teaching|
|Reasoned Responses to Radical Money Situations|
|What is ‘Risk Tolerance’ Really?|
|The Richness of Giving|
|Are You Up or Down?|
|When Conventional Advice on Money Won’t Do|
|Financial Turmoil ~ Doing the Right Thing for You|
|Navigating the Early Days of Credit|
|How to Turn Money Worry into Success|
|What Will You Splurge On?|
|Money – Taboo Topic or Compelling Conversation?|
|The Many Meanings of D.E.B.T.|
|The Enjoyable Road to Debt Freedom|
|Money Management is More than|
|The Entitlement Epidemic: Eroding Our Financial Future|
|Saving Money Will Keep You Broke|
|Buying A Car: A Personal Story of Lessons Learned|
|3 Simple Principles of Financial Decision Making|
|How to Get Out of Debt and Save Money at the Same Time|
|How to Stay Calm When Your Money is at Stake|
|5 Simple Changes You Should Make to Your Money Priorities|
|The Missing Piece in Financial Planning for Advisors|
|The Missing Piece in Financial Planning for Clients|
|What is Your Professional Title?|
|Your Clients’ Financial Comfort Zone|
|Accepting Financial Advice|
|A Built In Negative Return: Secure Investments?|
|A Guaranteed Investment|
|How to Save for Retirement While Still Enjoying Today|
|A New Definition of Retirement|
|Financial Advisor or Scam Artist?|
|Grandma’s Lessons in Financial Management|
|How Are Your Spending Habits?|
|How Giving Has Blessed Our Life|
|How to Build, Manage, Maintain Wealth|
|How to Buy Your Dream Home|
|How to Make Financial Decisions|
|How to Retire When You Want with the Money You Want|
|Lucky Financial Planning|
|My Portfolio is Down – What Now?|
|No More Restricted Spending|
|Special Financial Strategies for the Younger Generation|
|The Lure of Low Interest Rates|
|Treat Yourself to a $1000 SpendingSpree|
|What is the Price of your Lifestyle|
|What Really Happens When Rates Go Up?|
|What Type of Life Insurance is the Best?|
|Who’s Minding Your Money?|
|Is Insurance an Investment or Expense?|
|Confirming What You Understand|