Three Rules of Work: Out of clutter find simplicity; from discord find harmony; in the middle of difficulty lies opportunity. Albert Einstein Let’s look at this quote from the context of the work being our financial plan, or the mission to grow money so we can reach our financial goals and have the life we desire. Out of clutter finds simplicity. Do you know how much money you have and where that money is? Do you know how much is flowing in and out every month? Can you easily access those numbers? January is the perfect time to reduce financial clutter while you are still motivated by … [Read more...]
What’s More Important Than a Pair of Jeans and Black Boots?
January 24, 2012 By 1 Comment
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Last week I had a great excuse for hiding out in bed with a huge stack of my favorite financial publications for an entire day; I had a nasty head cold. I fully realize that I am a bit of a nerdy introvert, and this is not what thrills most people about a “sick” day, but I ended the day feeling refreshed and wiser, albeit a bit stuffier. The fact that I get to share with you the best bits of information I read is what excites me about writing the financial woman blog! Spending this time also allowed me to focus on improving my own financial plan without the distractions of running … [Read more...]
Holistic Financial Plans Define Money Decisions
January 5, 2012 By 1 Comment
Sometimes women ask me if it’s a good idea to actively trade in the stock market or even foreign exchange markets. The best answer to this question should be the result of an overall financial plan that includes many elements, such as time, money and risk tolerance related to that money. Risk tolerance is the result of other factors, such as dependents, skills, other income sources and net worth. Questions relating to your money cannot be answered without other considerations; this is yet another example of a financial principle that is the same as other life principles. The best … [Read more...]
Clarify Priorities to Live a Rich Life
January 4, 2012 By 3 Comments
At Financial Woman, we promote that financial goals and living a rich life are congruent. A rich life goes far beyond money; it’s about a life that includes spending your time in a way that’s meaningful, and also being surrounded by things you love that express your style, both in your home and your wardrobe. The third step in growing your money is creating positive cash flow, which simply means more money coming in than going out each month. (If you haven’t gotten my free video series explaining the 5 steps to grow money, you can get them here.) In reality, cash flow is the direct … [Read more...]
Just Between Girlfriends….
October 20, 2011 By Leave a Comment
One of the most important aspects of growing your money is creating positive cash flow. As a woman especially, I like to have nice belongings in my life; I like to wear clothes that I feel good in and that reflect my style and image. I like a home filled with things that I love that inspire me. These are not bad things to want and be inspired to have in life. You may have seen some of the videos in my new series that focus on being savvy smart with your style and your money. I offer tips and insights that I have gained from a life time of being a savvy smart shopper, much a reflection of my … [Read more...]
4 Smart Cash Flow Secrets
September 29, 2011 By Leave a Comment
Monitoring Cash Flow is Always Smart! Exactly what is cash flow? It's the flow of money into and out of your financial accounts each month. Even if you are fortunate to have periods when you have more income than you want to spend each month, it’s wise to calculate your monthly cash flow. This is a smart habit for several reasons. Accomplish Your Money Reasons Sooner First, you can challenge yourself to reach some of those money reason goals sooner than you thought possible. For example, if your goal is to donate a certain amount to a children’s shelter by the time you are 50 … [Read more...]
Are You On Track?
August 29, 2011 By Leave a Comment
After over a decade of turmoil in the financial markets and the accompanying drop in the value of real estate, many women are finding that they are just not on track to reach their financial goals by the previously expected time frame. If you see that your current investment plan falls short of where you want to be, brainstorm steps to get to where you want to be. The longer you have to enhance your financial plan, the better. There are so many options to increase your wealth, including: Creating a second income stream from a small business, while creating a legitimate tax deduction at … [Read more...]
How Many Months’ Worth of Cash Do You Need?
June 1, 2011 By Leave a Comment
A common personal investing rule is to always have the value of six to nine months of living expenses in cash or cash equivalents before you begin investing. This makes sense because investment accounts typically fluctuate in value. This rule will help make sure that next month’s rent and grocery money is not subject to a 30% decline in value. What is a cash equivalent? It is a “cash-like” asset; its value stays at or near what you paid for it regardless of what is happening in the economy and the financial markets. Examples include short term bonds and money market accounts. Your … [Read more...]
Do You Have Financial Harmony?
April 18, 2011 By Leave a Comment
What a perfect weekend! I hope your weekend was as wonderful as mine; it included kayaking on beautiful Ladybird Lake near downtown Austin followed by dinner on the patio at Whole Foods Market with friends, editing yet another “final” draft of my financial book for women while spending a gorgeous day on my patio, golf, hiking, spiritual time and a little time focusing on my finances. I even found some quiet time to explore my own personal money reasons in my Financial Woman Alliance member wealth journal; updating my money reasons always helps me get and stay on track with my financial … [Read more...]
