No Limits Ladies.com

I know, I know, you're thinking I'm off my rocker, I have really lost it now. That might be true. But don't try to distract me. I'm about to make a great point...

I agree with Kim Kiyosaki in her book Rich Woman, that not having money is a benefit: "Because it forces you to think. It forces you to be creative. Instead of having one strategy for financing my investments, such as using my own money, I now have countless ways to finance my investments. The most important benefit is that I will never let the excuse that I don't have money stop me from going after a good investment. It's amazing what you can do when you have to."

Whenever you say 'I can't' your mind automatically shuts down. Ask yourself, 'How can I afford it?' Asking that question opens your mind to search for answers.

Reading and reminding myself of this has been key in giving me the confidence to move forward with the goals I set for myself. c\_/

We'd love to introduce you to Frugal Duchess, part of the NLL Sisterhood!


Hi I'm the Frugal Duchess. I've been a financial journalist (in Pittsburgh,
Washington, Manhattan and Miami) for over two decades, a mom for 14 years
and a big spender for about three decades. I'm 48 years old now and it's
taken me a long time to figure out my balance sheet, the world of investment
and frugality. I'm still grappling with my financial demons.

I'm not naturally frugal. On my worst shopping trip, I went to every Ann
Taylor in Manhattan in a strange hunt for a bargain shirt. It was such a
good deal that I purchased a shirt in every color. It was a very expensive
bargain-hunting expedition.

I've grown up. Motherhood and marriage forced me give up my Spending Diva
attitude. I have traded in my steady diet of gourmet coffee for my own bean
crusher and a French press coffee maker. I spend pennies for great
home-brewed coffee instead of $4 a shot for cafe shoppe coffee. I shop sales
and use coupons. I wear second-hand designer clothes and recycle. (I try to
live as green as possible and give back to others.)

But I still believe in living well. I enjoy semi-private yoga classes and
off-season vacations at luxury resorts at steep discounts. But saving
(money, time and the environment) has become my mission.

Sharon Harvey Rosenberg
www.Sharonhr.blogspot.com

"There are many truths of which the full meaning cannot be realized until personal experience had brought it home."

We want to extend a special welcome to our fearless new friends from the Huffington Post! K and I hope that you find NLL a place to help you ladies become fearless about your financial future!

Cheers! Prlinkbiz (E.Morgan)

I wish I could take credit for this brilliant compromise. I can’t. I first heard of it from my hubby. His father-in-law used this option to deal fairly with his three very different money-wise sons.

My father-in-law set aside a fixed amount for each of his son’s education. He didn’t tell them about it. They didn’t know the amount. They didn’t even know they were to receive it.

The sons paid for their own education out of pocket. They applied for scholarships, worked at jobs, applied for loans. Two lived at home, saving money. The third decided to splurge, attending university in a different city. My father-in-law said nothing. It was their choice, their decision, their money.

Upon graduating, he approached each of them privately, told them about the amount and then transferred it into their accounts. None started their post grad lives with student debt. Some used it to pay off those loans. Some invested it. My husband invested his portion and eventually used it for a down payment for the house we’re still living in today.

There was no complaining that number three son got more money than number one son. There was no haggling over whether the parent would pay for clothes or a new car or some other expense. The sons treated the money like they were spending their own which, of course, they were.

Back to the free lunch example, I’ve had managers use this same approach. No one knows whether or not the lunch is paid for until the manager does or does not pick up the tab. There’s no abuse of the company finances. There’s no unexpected chipping in if the lunch goes over department budget. The worst case is planned for…to pay my own way.

The only thing that stands between a woman and what she wants from life is often merely the will to try it and the faith to believe that it is possible.

I paid my own way through school. I did it a combination of ways;

Scholarships

During my last year in high school, I applied for every single scholarship that I heard of and qualified for. I wrote essays til my fingertips were blue. It took time, yes, but it ended up paying off better than any second or third job. Was I an ace student? Nope. The biggest scholarship that I won was for volunteer work. There are hundreds of thousands of scholarships out there. I saw one for women with the first name starting with S going into a science degree. Serious. There are some freaky scholarships out there (Duck brand duct tape has a $3,000 scholarship for the best outfit made out of duct tape).

Not only did scholarships help pay for school but it helps landing jobs. I’m 35 years old and when I say I was a scholarship student, it still gets respect.

Jobs

I worked my butt off at summer jobs and picked a co-op program at university. I went to school for 4 months, worked for 4 months. Yes, it took me a little longer to get my degree but I graduated with almost 2 years of relevant work experience. My high school jobs got me better university jobs. My university jobs got me better post grad jobs and it just continued from there. My non co-op buddies never caught up (and now I’m semi-retired).

Frugality

By the time I graduated, I knew how to budget, plan, and pinch pennies til they squeaked. I never felt deprived but I did know how to manage my own money. I knew that used books weren’t all that different than new books (some were even highlighted, a bonus for this lazy gal). I knew that showing up at a club at 10 pm rather than 10:30 saved me the cover charge equivalent of a drink. I knew that free university concerts were usually wilder than the ones that charged.

Student Loans

Yeah, I made mistakes and had to dip into the student loan fountain. It wasn’t fun, believe me, but I learned about debt management and at a lower interest rate than if I had learned the same lessons after graduating. Would I have preferred to graduate without even that small debt? Sure but I survived.

"Let go of the past and go for the future. Go confidently in the direction of your dreams. Live the life you've imagined."

- Henry David Thoreau

Yesterday I shared some startling statistics with you ladies.

Here are five reasons why women should invest:

The Statistics. One last statistic: 90% of all women have sole responsibility for their finances within their lifetime, yet 79% of all women have not planned for this. There is no time like the present.

Dependency. You don’t go into a marriage expecting a divorce. You don’t begin a new job expecting to be laid off. But it happens. And today, we see it happen with more and more frequency.

My advice to women: do not depend on a husband, a boss, or anyone for your financial future. They simply may not be there. I know too many women today who stay in unhappy relationships because of money. And how often have you heard, “I hate going to work but I need that paycheck?” So often I meet women who went for “security” only to discover they lost their self in the trade-off.

One of the greatest gifts I received once I began investing (and truly understood the game) was that I realized I did not need Robert for my financial well-being. I was not dependent on him to take care of me. And he – by no means – wanted me dependent on him. It then became crystal clear to us that we were together because we simply wanted to be together. We had more respect, more love, and more happiness in our marriage than ever before.

No Glass Ceiling. In the corporate world, there still exists the infamous glass ceiling. Women are often limited in their rise within a company. Can you break through the glass ceiling? Of course you can, but it takes great effort. In the world of investing, the markets don’t care if you’re female or male, old or young, black, white, or purple. The markets don’t care if you’re a college grad or a high school dropout. The markets only care about one thing – how smart you are with your money.

If you get educated and know what you’re doing – you make money. If you don’t – you lose money. It’s not rocket science. Which brings me to my next point…

No Limits To Your Income. It amazes me that there still exists today the discrepancy in income between women and men. Yet it’s true: women today earn about .74 for every $1 earned by men. In the investing world, there are no limits to how much money you can make. The more education you have, the more experience you acquire (and this increases with every investment you make) the greater your chances of success and higher returns.

Control. Control of your time. Control of your finances. Control of your life. I’ll be honest, I hate being told what to do. I think this started at age two. There is nothing worse for me than not being able to do what I want, when I want to do it. Becoming an investor can give you that control.

I’m not a mother but I know many working mothers who would give anything to spend more time with their children. Or couples who have to pencil in appointments with each other. Or maybe you have a dream – to have your own business, join the Peace Corps, become an artist - that never gets started because you had no control over your time, your finances, or your life.

There are many powerful rewards that I’ve seen women, including myself, attain by becoming investors: greater self confidence, better relationships, less worry, more happiness, and – ultimately – freedom to be, to do, and to have what we want. That, to me, is a goal worth going after.

(adapted from an article by Kim Kiyosaki, author of Rich Woman)

I’ve been involved in many discussions about what the best option is for paying for college. It usually comes down to an argument over should the parents pay or should the students pay? There are pro’s and con’s for both. Once I cover those briefly, I’d also like to point out a third option, one that I prefer.

The pro’s for parents paying usually involves students and debt. If parents don’t pay, this means that likely the student will incur debt. Some students incur A LOT of debt, massive debt, the equivalent of buying a small home outright debt. So the student is starting out in the financial hole.

And if the parents can pay, why shouldn’t they?

Before parents make this promise, they should be 100% certain that they will be able to pay. That means that they have enough cash otherwise to pay for things like unexpected layoffs (are layoffs ever expected?), medical emergencies, and, with parents getting older, perhaps even an early and very permanent retirement.

I know a few very bitter people who heard at the last minute that their parents couldn’t cover college costs. They heard after years of wasted money from summer jobs, deadlines for scholarships and, most hurtful, deadlines for student loans. They were left scrambling and stressed in an already stressful situation.

Also parents should be clear about what they will and will not pay for. Sending junior with unlimited funds is not usually conducive to good marks (but will bump up popularity points).

Another consideration is the free lunch issue.

First thing co-workers want to know at an office lunch is who is paying? If the boss is paying, the sky is the limit for entrée options, usually leaning towards the higher prices. If the employee is paying then all of a sudden that Dom Perignon becomes tap water.

I've hung out with parent paying students. They aren't exactly shopping in the used book store.

That has been the thought going through my mind the past few days. So tonight, I popped on one of my favorite episodes of Sex and the City, in which Carrie asks, "Do women just want to be rescued?".Taboo or true?

I wrote an article about being fearless to help launch Arianna Huffington's book appropriately titled, "Becoming Fearless". Why appropriate for women? Because I think many of us are afraid on some level. And ill-prepared in many ways.

Which is why am taking this opportunity to review the statistics in another book to empower women: Rich Woman by Kim Kiyosaki.

Ladies, the results are in, and they are not looking good.
-47% of women over the age of 50 are single.
-50% of marriages end in divorce.
-In the first year after a divorce a woman’s standard of living drops and average of 73%.
-Of the elderly living in poverty 3 out 4 are women…and 80% of them were not poor when their husbands were alive.
-Nearly 7 out of 10 women will at some time live in poverty.

The truth is that there will not always be someone to rescue us. Not a father, brother, husband, (hot) fireman, etc. The time has arrived for me personally, when I have to now step in and "rescue myself" as it were!

Ladies, where are you at? Face your fear. Realize you can come to your own rescue.

"Managing money is a life skill." -Kim Kiyosaki

Almost September and that means back to school. This week I’ll be talking about financial ideas for those parents with college aged students (both current and future).

Many students are not fortunate enough to have their ideal college be their local college.
(Or maybe they merely want to live away from home). That means that they have to travel, live away from home and incur all those extra housing costs.

With the child leaving the “nest”, there’s also a vacant room in the parent’s house.

So what my friend did was an informal student swap. Her daughter is paying for accommodations in another city (renting a room in a house). My friend, in turn, is renting out her daughter’s room to a student attending the local college. The two rents almost offset, the girls’ get their independence, and my friend isn’t feeling as lonely.

Because this is my friend’s home and she was only looking for one girl, she did A LOT of pre-screening. She wanted to feel comfortable. She also didn’t want her house to become an updated version of Animal House. There were rules and expectations clearly laid out.

When I first graduated, I did a very similar thing except that I was the tenant. I rented a room in the basement of a family home. A single girl, I liked having the safety of a family living so close. I worked long hours so having the place feel lived in was important.

Another friend is renting out one bedroom of her two bedroom condo to foreign students. She loves learning about the different cultures and she knows that any rooming situation is fairly short term. Any difficult personality conflicts are easier to take when the student is only there for eight months.

Seeking Contentment: What gets me moving in the morning
Not too many years ago, I felt like a slave to money. I couldn't stop obsessing about how much I made, how I was going to pay for college for a child that not only wasn't even conceived but wasn't even thought of, and how I was going to buy a house; I needed more money because more would allow me to live my lifestyle, save for the future and buy a nice home. It's taken me a few years, many journals, and the birth of my daughter to realize that what I need can't be bought with money. I "need" the love, support, and respect of my husband. (I say need but really I mean want. I need oxygen, food. I want a healthy relationship with my spouse. There is a difference.) I need some of the same from my child. I'm blessed beyond belief and that really has nothing to do with money.

Don't get me wrong, money is important to me, very, very important to me. However, it doesn't have a binding effect like it used to. It's a work in progress and a constant struggle to balance out my life, but I've identified my goals, both financial and non-financial, and my values. I try to live my life in alignment with these values and goals: every decision I make takes me back to these two areas.

How did I get here? Well, the long drawn out story will be posted somewhere else. The short story is that I started by journaling a lot about my feelings, I wrote about why I felt the way I did about money, and then I read a lot. I've read many self-help money tomes on how to get my financial life in order. Once you read a few, you get the gist of everyone's message which is to spend less than you make and save a chunk for living your life now and in the future. Sounds simple, but it's oh so hard! The first simple step (besides educating myself) was to track exactly where my money went. How much did I actually make? How much exactly did I spend on health care, groceries, concerts, insurance? I made my husband track just how much he put in parking meters:) (We have a line in our expense chart for parking meters...I know it's crazy, but I really, really needed to know where we were spending our money!) I learned from this monthly snapshot what was important to us and where we were frivolously spending money. Nothing surprised me except that we pay about $700-800 a year for a Harley motorcycle that sits in our garage for a huge chunk of time. (I've since made peace with the fact that this expense exists, but will certainly be one of the first to go if we are ever in a bind.)

Finding out where our money went helped to move me to the next step which is to evaluate our expense reports and make sure what we were spending money on was in alignment with our financial goals and values. Then, I made saving a priority (which I've always done, but I kicked it up a notch.) We've always saved to my 401(k), a traditional IRA, and a Roth IRA, but we didn't have an E-fund set up. So, in addition to those savings vehicles, I established an E-fund with HSBC. Within a few months I've already built it to $4700. It is a rush to see my savings grow, to check how much money 5% interest really brings in. That rush used to be full-filled with shopping, but not anymore.

I'm in a much, much better place in my emotional-financial house since I created a game-plan. I can only make so much money, I can only save so much money, I can only do a finite thing with money. If I lost every penny today, I would still be ok. If my marriage were to dissolve, I'd be ok (albeit, very, very sad, but ok.) I have a wonderfully supportive husband, a gorgeously smart child, and we all have good health and love for one another. Sure, I'd stress out and find a way to rebuild our savings, but I would be ok. What gets me out of bed in the morning is knowing that I make a difference to someone in the world, right now, I make a difference to my family and friends.

I'm going to close with a quote from Liz Perle's book, "Money, a memoir". "As long as I had believed that financial security purchased emotional security, I'd lived a dependent, conditional life. Conditional on the individuals, families, institutions--even fantasises--that I'd invested with the power to take care of me. When I made that quiet contract with cash so long ago, I'd trusted that money would compensate for my emotional needs. As a result, each time one of those sources of security disappointed me or disappeared, I was left in a state of fear." I used to feel this way about money and relationships too. I feel blessed that at the young age of 31 that I know that I don't "need" anything or anyone to be ok. Money doesn't define me or my values or character.

Since I spent last week setting goals for myself, I wanted to have some of our finance blogging sisters share what their goals are, how they got started, a little more about themselves with us all. Women learn well from other women. We have different issues, different limiting thoughts, different motivations for the things we want in our lives.

So this week I would love to introduce you to the ladies taking control of their finances, and I am going to go through the book Rich Woman, because girls don't just want to have fun...we want it all!

I love the Billy Idol song, and I adore the clothing line, but it's my theme for the week: Rebel Yell .

It's time to "with a rebel yell" beat the noise in my head, my undisciplined evil twin, the freakin' naysayers, and stereotypes.

More reflections after I knock back a couple cups of homemade mocha... c\_/

She who associates with those who are wiser than she is, is wiser than they are... c\_/

I have two gifts in life, and getting people together is the other one. Here in Phoenix, we have a crew of real estate investor friends who hang out about once a month. I'm usually the one who arranges everything and invites everyone...they don't call me "the Cruise Director" for nothing! I love it! I always learn something from these amazing people, while enjoying myself.

Last night, we got the crew together for dinner and drinks. Many of us have met through business and real estate forums, some of us have been friends for a while, and some people are newer additions to the crew. We smashed into a booth, had drinks, dinner, and found out about what everyone is up to real estate wise, asked questions, shared information. It was great!

Everyone at that table was farther along in real estate investing than I am, but I want to learn more. I want to learn from people who are doing it, and well. I like knowing that I have people around me who can advise me, and who have my back. (They keep me around because I'm entertaining- heck anyone is after four chocolate martinis! )

Martinis Up! Get yourself a crew! Or live and learn vicariously through my crew here at No Limits Ladies!

In keeping in step with K's Frugal Fridays, I wanted to link to this great post I just read:
How to be a Hot Mama, Not a Hoochie Mama

C\_/

I love to travel even more than I love chocolate. Okay, well, maybe AS much as I love chocolate but I do love to travel.

And when I travel, I like to treat my loved ones back at home. I always bring back a little something something to let them know that I might have been on vacation from work but not from thinking about them.

At first, I brought back the classic, overpriced touristy stuff. Eiffel Tower miniatures from Paris, boomerangs from Australia, hula girls from Hawaii. My mom’s apartment was looking like a mini United Nations. One of my brothers had a year’s supply of white t-shirts that he couldn’t really wear because every time he did, people asked him if he had been to the place blazed across his chest.

Having been on the receiving end of similar gifts, I appreciated the thought but the items went straight into a box destined for either a yard sale or Goodwill.

Now, I STILL bring back things but I put more thought and less money into them. I found a secret place to find authentic souvenirs at bargain basement prices.

The grocery store

I buy vanilla in Mexico, soy sauce in China, paprika in Hungary, chocolate covered mac nuts from Hawaii. My loved ones love the fact that its not only useful but “authentic”. The ingredients that the locals use.

I love the fact that it exposes me to a slice of everyday life that other tourists don’t get to see. What says more about a country than its food? Where do you see real moms and wives and families than at the grocery store?

Shopping at the grocery store requires local currency but I don’t tend to travel without it anyway (I never know when an emergency might require it). The other downside is that I am getting pressure from my Mom to go back to China to get more soy sauce!

"Constant life changes will distract you if you allow it." -S. Olafson

The hubby just guzzled the last of the orange juice (strangely enough there is no dirty glass in the dishwasher) so I head to the grocery store to buy more. Standing in front of the orange juice section, cooling my heels literally, I see a 128oz jug of Minute Maid Orange Juice for $5 (actually $4.99 but lets make it simple). I also see a 64 oz carton for $3. The hubby drinks a lot of orange juice (extra, extra pulp – he’d be happier with full rind) so I, of course, want to get the best deal.

What do I do?

Simple. I figure out the price per ounce.

Jug = $5 divided by 128oz = 3.9 cents per ounce
(if only powering my car was so inexpensive)

Carton = $3 divided by 64oz = 4.7 cents per ounce

If I didn’t care whether I bought in a jug or carton, then I would pick the most inexpensive option, the 128oz jug.
(Note: Most grocery stores have the per unit cost on the shelf tag to make it even easier)

With stocks, there is a very similar calculation called the price-earnings ratio (also called the price multiple).

When I buy a stock, I’m buying a piece of the company. And as an owner, I own a share of all future earnings (these eventually get paid out in dividends). It makes sense that if the company earns more money, then the stock should be worth more.

To easily compare different share prices, I calculate the price-earnings ratio. It is exactly as it sounds…the price per share divided by the earnings per share. Lucky for this lazy gal, I don’t usually have to calculate the P/E ratio. It is given to me with my other stock information (even Yahoo! Finance supplies it).

I can look at the P/E ratio for that company and compare it to its past P/E ratios and the P/E ratios of the other companies I’m looking at. Is the P/E higher or lower? Normally, the higher the P/E ratio, the more expensive the stock is.

Normally because the P/E ratio is based on the past year of earnings. If I expect the earnings to increase, then I expect the P/E ratio to be higher. If I expect the earnings to decrease, I expect the P/E ratio to be lower.

Every success is built on the ability to do better than good enough. -Unknown

Ok, so maybe not the famous part (at least I know that is true for K and me!), but the rich part, definitely is true. I set this week aside to take a good hard look at where I am at, and decide on some specific places I want to end up at; rich, being one of those places.

That is such an ambiguous word: rich. It means one thing to you and another to me. In my mind, being rich means having enough to feel secure, as well as living a comfortable lifestyle, and having the wealth, or longer leash and more ability to do things I want in my life. Again ambigious. Undefined goals are never reached. But there is another factor...the comfort factor...the lifestyle factor.

I have heard more talk about lifestyle this week from women I've been around, seen and talked with. When we are pinching pennies and the pressure is on- there's no wasted money, because it isn't there to waste. So what tends to happen the minute we get some money and the pressure is off? We get comfortable in our lifestyles. We drink our daily mochas, get our toes done, here a little splurge, there a little splurge, everywhere a splurge splurge. And you know what? We aren't getting where we want to be, because we are just so glad we aren't where we were. We end up just trying to maintain our beloved lifestyle.

Ladies, it's a beautiful trap. These are the thoughts of girl trying to decide what she can really give up, or how much harder she is going to have to hustle to keep the lifestyle and still get where she wants to go...

I love, love, love to shop (did I mention that I love to shop?).
I get a buzz better than chocolate off of getting just what I want at just the right price.
Even better, I love using the item and then reselling it for what I paid or even...gasp...more.

I think that's why I enjoy investing.
The same concepts I've been using for years shopping for clothes and cars and furniture, apply to shopping for stocks.

Say I'm looking for that basic little black Chanel dress (Coca-Cola stock).
Chanel (Coca-Cola) caught my eye because its great quality, a solid name, a dress (stock) to be proud of.

Aside: Did you know that the little black dress first made popular by Chanel is in as many closets as jeans?

When I first started shopping for clothes (stocks),
I didn't have a clue what a good price for Chanel (Coca-Cola) was.
Was it on sale? Was it overpriced?
I didn't know.

So what did I do?
I looked in different stores at similiar types of dresses (beverage stocks) like Gucci or DKNY (Pepsi or Cadburys).
I looked at the quality of Chanel (Coca-Cola) compared to these others.
I looked at the retail price (average share price).
Then I looked at the today's price.

Was it truly a sale?
Have they added a faux flower (a positive change at the company) and charged less than what the addition is worth?
Was there a tiny, hardly seen snag in skirt (a problem at the company) but the dress (stock) has been discounted to bargain basement levels?

I also know that if I buy the dress (stock) cheap enough,
I could always resell it for a profit on e-bay (the stock market).
And while I wait, I'm going to wear it (collect dividends).

'Course this, as every savvy shopper knows, is the simplistic view.
Hemlines (beverage trends) change.
Sales tax (income taxes, trading fees) add to costs.
There are other factors
and I'll be covering them in more detail.

But the basic idea is the same whether I'm shopping for clothes or shopping for stocks.

"The first step to becoming is to will it."

- Mother Teresa

From time to time, when the moon and stars align, when my good karma points are overwhelmingly high, when I get lucky (okay, financially lucky – other lucky’s are for other blogs), I receive a financial bonus.

It could be a company bonus ‘cause we sold more widgets than the next gal (what are widgets and why is everyone making them?). It could be an inheritance from a distant great auntie who lived a long, wonderful life, accomplishing all she ever wanted to do. It could be a lottery win (though I have a better chance of being struck by lightning while abducted by circus clown terrorists). It could be any sort of unexpected financial windfall.

So what do I do with this bonus?

Regardless of the amount, whether it is $1 or $1,000,000 (I wish), I immediately invest half.

If I invest half, this bonus will give me financial joy for the rest of my life. It’ll earn income. It’ll do financial good. It’ll allow me to treat my loved ones ‘til the end of time (even if its to a cup of coffee).

Then with the other half, I….do whatever I want to do. It’s mine to spend. Guilt free. Without restrictions. Why not? I know that I haven’t wasted this cosmic kiss because half of it is still sitting in my investment account.

Until one is committed, there is hesitancy,
The chance to draw back,
Always ineffectiveness.
Concerning all acts of initiative and creation,
There is one elementary truth
The ignorance of which kills countless ideas
And endless plans:
That the moment one definitely commits oneself, then
providence moves too.
All sorts of things occur to help one that would never otherwise have occured.
A whole stream of events issues from the decision,
Raising in one's favor all manner of unforseen
incidents and meetings and material assistance.
Which no one could have dreamed would come their way.
Whatever you can do or dream you can,
Begin.
Boldness has genius, power, and magic in it.
Begin now.

-Johann Goethe

I am admittedly no master baker. I make a mean (and inexpensive) chocolate brownie. The recipe to be found here (I omit the costly walnuts and bake them in mini muffin tins for easy eating). But that’s about the extent of my baking abilities.

Most of my friends are in the same non-cooking boat. One of my buddies has yet to successfully make poptarts (he keeps trying, stubborn man). Despite all this, we get asked often to bring food to potlucks, work functions, church functions, even family reunions (family should know better especially after my famed macaroni and cheese disaster…who knew I had to boil the water first?).

So where do we turn?

One place is to baking blessed friends. One of my male friends (yes, male) makes cakes to live for. They are so sinfully yummy that people started to pay him for his baking time. He baked as “favors” for others and they kicked in a little something extra for his effort. Eventually, he turned legit, getting the business registered and satisfying the health officials.

But his first foray was really unintentional. He baked for friends and family. Then he was asked to participate in a charity bake sale. Attendees asked him if he made cakes. He said privately and gave them his personal business card (personal business cards are a must have especially for people like me always looking for new opportunities). He shamelessly handwrote “bakes first rate cakes” on it so they’d remember.

My buddy told interested parties that he would bake a cake for them for x dollars (a reasonable wage for his time, factoring in a small fee for use of his pans and oven) plus the cost of ingredients. He made it clear that it wasn’t a business, more like a favor (which it was…to begin with). Clients picked the cakes up.

It was so lucrative that now he has his own restaurant featuring…yes, his cakes.

"Movement without direction will create a hole in the ground. "
by Sophia Bedford-Pierce

"The Seventh Cure"
"Increase Your Ability to Earn"
( Chapter 3 of The Richest Man in Babylon by George S. Clason paraphrased)

Today ladies, I want to talk to you about one the most important remedies for a lean Fendi purse. I will talk not about money but about yourselves, the women beneath the cute clothes who sit before me (well, in front of your computers). I want to talk to you about those things within the minds and lives of women which work for or against their success. (So did Prlinkbiz address her class upon the seventh day....)

Preceeding accomplishment must be desire. Your desires must be strong and definite. General desires are nothing but weak longings. For a woman to desire $100.00 is a tangible desire which she can make happen. After she has backed her desire for $100.00 with strength of purpose to get her hot little hands on it, next she can find similiar ways to get $1000.00 and then $2000.00 and later a $100,000.00, and then (ta da!), she has become wealthy. In learning to secure a definite small desire, she has trained herself to secure a larger one. This is the process by which wealth is accumulated: first in small sums, then in larger ones as a woman learns and becomes more capable.

Desires must be simple and definite. They defeat their own purpose if there are too many, that are too confusing, or beyond a woman's training to accomplish.

As a woman perfects her money making skillz, her ability to earn increases....

The more of wisdom we know, (meaning here the proper use of knowledge, or maybe even more importantly- the use of!) the more we may earn. That woman who seeks to learn more of her craft shall richly be rewarded. If she is an artisan, she may want to learn methods and tools of those most skillful in the same line. If she is in law or medicine, she may consult and exchange knowledge with others of her same field. If she be a retailer, she may continually seek better goods that can be purchased at lower prices.....

Many things come to make a woman's life rich with gainful experiences. Such things as the following, a woman must do if she respects herself:

She must pay her debts, bills etc. with all the promptness within her power, not purchasing that for which she is unable to pay (avoiding bad debt).

She must take care of her family that they may think and speak well of her. She must make a Will that, in case it's her time to go to the great Spa in the Sky, proper and honorable division of her property will be accomplished.

She must have compassion upon those who are injured and smitten by misfortune and aid them within reasonable limits (hand up, not hand out). She must do deeds of thoughtfulness to those dear to her.

So, the seventh and last remedy for a lean Fendi purse is to cultivate your own powers, to study and become wiser, to become more skillful, to so act as to respect yourself. Then will you have confidence in yourself to achieve your carefully considered desires.

These are the seven cures for a lean Fendi purse, which out of the experience of a long and successful life, I do urge for all ladies who desire wealth.

I just read our hard working girl friend's blog about their weekend home improvement projects. I'm not really a do-it-yourself kind of girl, so I was posting a comment about my last do-it-yourself project, which got me thinking about the long list of "why-did-I-do-that-myself" projects I have personally done. Girls gone do-it-yourself wild has nothing on me. ( I think I feel a series coming on...)

My latest venture into the world of d.i.y was simple enough: get rid of ants and grow some grass (not that kind). For a brief moment, I considered charging the ants rent, but in the end I decided to sprinkle some "ant-b-gone". It worked fabulously. I was ridiculously proud of myself. Then I watered the backyard and the grass seed was sprinkled. I watered, and watered, and a funny thing happened. Some big bushes grew. Not grass. Bushes. However, on the side of the house where the ants used to be...suddenly grew grass! What the?

I have since gone through and plled up every single one of those crazy bushes. But the money I saved doing it myself made it worth it, and it felt empowering in a weird way. Now if I can just get that grass to grow...

"If you’re given a choice between money and sex appeal, take the money. As you get older, the money will become your sex appeal."
-Katharine Hepburn (1907-2003)

"The Sixth Cure"
"Insure a Future Income"
( Chapter 3 of The Richest Man in Babylon by George S. Clason paraphrased)

Ladies, no matter how much plastic surgery, botox or good lighting, we all get older. This is the path of life and there is no way around it, unless you go early to that great spa in the sky. Therefore, ladies I say that it is in our best interests to make sure we have enough income in the days to come, for when we are no longer young (and hot), and to make preparations our family (as well as our designer nursing homes fully equipped with cabana boys). This lesson will instruct you in providing a full Fendi purse when time has taken it's toll. (So Prlinkbiz addressed her class upon the sixth day...)

There are lots of different ways by which a woman may provide security for her future. She may provide a hiding place and bury a secret treasure. Yet, no matter how well it is hidden, it may nevertheless become the booty (love that word) of theives dogs, kids, or old men with metal detectors... Yeah, I don't recommend this plan.

A woman may invest in real estate. If you have learn how to buy well, keeping in mind the usefulness and value in the future, the properties are stable in their value and their passive income or their sale will provide well for you.

A woman may loan a small sum to the money lender and increase it on a regular basis. The interest which the money lender adds to this will largely add to its increase....

Surely, when such a small payment made with regularity does produce such profitable results, no woman can afford not to insure her treasure for her old age and the protection of her family, no matter how prosperous her business and investments may be....

Because we live in our own day and not in the days which are to come, must we take advantage of those means and ways of accomplishing our purposes. Therefore do I recommend to all women, that they, by wise and well thought out methods, do provide against a lean Fendi purse in their mature years. For a lean Fendi purse to a woman no longer able to earn or to a family without it's head is a sore tragedy.

This, then, is the sixth cure for a lean purse: Provide in advance for the needs of your growing age and the protection of your family.

It’s the most wonderful time of the year…yes, back to school time. The kids are excited, you’re excited, the stores are excited, the hubby…well, the hubby doesn’t even notice.

Why are the stores excited? Because back to school means back to school expenses. Pencils and pens and erasers and paper and ink cartridges all can add up.

So how do I save on school supplies (having no kids of my own, I use the back to school sales to load up on home office supplies)?

I eyeball the flyers for free after rebate offers.

I know you’ve seen them. Free after rebate on liquid paper or binders or even printers. I buy the printer, pay the full price and then mail away the rebate with UPC and cash register receipt to the manufacturer. Months later, I receive a check in the mail. The item is free!

That is, if I submit the rebate.

And that is how the manufacturers make money. Often the customer forgets to submit the rebate. They meant to do it but they forgot or they didn’t have time or they got lazy (my excuse) or they lost the receipt.

So what I do is place the receipt and rebate form in the bag with the item. Immediately when I get home, I submit the rebate. For big value items (like printers), I either photocopy the rebate package or I scan it into my computer. I note the date I sent the rebate.

And then I wait for the mailman (actually, in my case, the hardworking mailwoman).

"If you educate a man, you educate a person; if you educate a woman, you educate a family." -Ruby Manikan

"The Fifth Cure"
"Make of your dwelling a profitable investment"
( Chapter 3 of The Richest Man in Babylon by George S. Clason paraphrased)

If a woman sets aside nine parts of her earnings to live and enjoy life with (Starbucks!), and if any portion of this money she can turn into a profitable investment, then so much faster will her money (net worth, equity, ability to leverage) grow. (So spoke Prlinkbiz to her class on their fifth lesson.)

All too many of our girls live in and raise families in places that are less than desirable . They pay rent for places where they have no area to plant flowers that gladden a woman's heart and their kidlets have no place to play with all their toys and crap that grams and gramps keep buying them (there's an idea- sell the toys to get the downpayment).

To a woman's own heart it brings gladness to own her own home. To have a place proud to care for (or give her the perfect excuse to hire that cabana boy finally), puts confidence in her heart and greater effort behind all her endeavors. Therefore do I recommend that every woman own the roof that shelters her and her family.

It is not beyond the ability of any well intentioned woman to own her own home. Single or married. Younger or older. Hear that ladies?

Also, money lenders gladly consider women who want to buy real estate. Readily may you borrow (OPM baby), if you can show a reasonable income, savings, credit, etc. which you yourself have pulled together for this purpose. You can pay the money lender same as you paid your landlord (assuming you did pay!). Then your heart will be glad because you will own a valueable property.

There are many great things to be said about women owning their own homes, from tax benefits, to building equity, carrying a mortgage can be profitable(!?), as well as allowing you to tap into the equity that is there (mo money, mo money).

This, then is the fifth cure for a lean Fendi purse: Own your own home ladies.

"Inaction breeds doubt and fear. Action breeds confidence and courage. If you want to conquer fear, do not sit home and think about it. Go out and get busy." (woo hoo!)

In this credit card world, it is so easy to spend, spend, spend money I don’t have (it’s easy to spend money Bill Gates doesn’t have, I’m one of the best spenders I know). I could buy a nice outfit on credit card, go home and immediately feel guilty about spending the money.

That, my dear friend, takes all the fun out of shopping. Talk about a next day hangover.

I’ve solved that problem by putting myself (and the hubby) on allowance (remember those as kids? My allowance used to be $0.10 a week for every year of age which meant when I was 10, I got a $1 a week, oh simpler times).

The big bills (utilities, property taxes, insurance, mortgage when we had one, etc) are paid out of our account or on credit card. Our less static expenses including grocery bills and gas money are paid in cash (yes, cash, as in dollar bills, the most primitive technology, we're talking sticks and mud). I give us an allowance to cover those expenses and our mad money.

The thinking is simple. When the cash is done, so is our spending. No advances. No overspends. No excuses.

However, no guilt either. I don’t have to feel guilty about that new outfit because I saved for it out of my own allowance. I didn’t put us in debt to buy it.

And the hubby no longer questions my purchases (this works the other way too). If I find savings on the grocery bill (I’m responsible for grocery shopping and my allowance reflects that) then I’m free to spend it as I wish. I no longer complain about the hubby’s lunches out with the boys because he’s using his own mad money to cover them. All is well in our little corner of the world (at least financially - if only getting him to stop wearing socks with his sandals was that easy).

If there’s an expense that our allowances can’t handle (some evil farmer corners the cheese market, driving up the price), we either save up or we hold a family meeting to decide if we take it out of savings.

Yep, allowances, not just for kids anymore.

"The Fourth Cure"
"Guard Your Treasure From Loss"
( Chapter 3 of The Richest Man in Babylon by George S. Clason paraphrased)

Misfortune loves a shining mark. Cash in a woman's purse (account, piggy bank, panty drawer) must be guarded with firmness, or else it will be lost. That is one reason it is wise to first secure small amounts and learn to protect them before the "powers that be" entrust us with larger amounts of cash. (So spoke Prlinkbiz on the fourth day to her class.)

Every woman with access to her cash is tempted by opportunites that would seem she could make much more by it's investment in the most "plausible" of projects. Often friends, relatives, and "Mr. Helpers" (in the words of Kim Kiyosaki) are eagerly entering such investments and urge her to get in on the deal.

The first principle of investment (besides "never let them see you sweat") is security for your principal. Is it wise to be intrigued by larger earnings when your principal may be lost? Hell no ladies! The penalty of risk is probable loss. Study carefully, before parting with your hard earned/saved cash, each assurance that you will get it back. ROI is not only return on investment, but return of investment! Don't be misled by your own romantic desires to get rich quick.

Before you loan it to any man (women, child, dog) assure yourself of their ability to repay and their reputation for doing so, that you may not unwittingly be making a present of your money.

Therefore, I advise you from a girl who has been there and done that: do not be too confident of your own wisdom entrusting your money to the possible pitfalls of investments. Run the numbers. Learn to analyze deals. Consult with those experienced in handling money for profit (profit here being the key word, and not just their own!). Such advice is freely given for the asking (don't get me started on expensive "coaching" or mentoring programs...) and may be as valuable as money, equal to the amount you consider investing. In truth, that is it's actual value if it will save you from loss. (heartache, set back, bouts of retail therapy, etc.)

This, is the fourth cure for a lean Fendi purse, and hugely important if it prevents your purse from being emptied once it has become well filled. Guard your money from loss by investing only where your principal is safe, where it may be reclaimed if you want and if you need it, and where you will not fail to make a good percentage in interest. Consult with chicks who know their stuff, those who are experienced in the profitable investing of money. Let their wisdom protect your stash of cash, and ultimately your financial future, from unsafe investments.

"Gold in a purse is gratifying to own and satisfies a miserly soul but earns nothing."
The Richest Man in Babylon by George S. Clason

As women, we tend to put ourselves last. It’s not healthy, it’s not right, but it’s what we do. Many people put investments in a similar category. If there’s any money left at the end of the month, it’s invested.

Well, I have no willpower. If I have it, I spend it (right now, as I type, there’s a darling pair of slingbacks calling my name) so there’s never anything left at the end of the month.

My solution is to set an amount that I’m comfortable with investing and, at the beginning of each and every month, paying that amount like a bill to my future self. No excuses, no delays. I work hard for my money, I think that I deserve to keep a bit of it, maybe even more than the electricity company (you light up my life, you give me hope to carry on…).

What amount to invest?

I started with $25 a month. I spent that much a month on my nasty diet coke habit. I figured that when I buy myself a diet coke, I should really treat my future self to one too (actually, my future self deserves something much, much stronger for having put up with my craziness all these years).

At first, it hurt. Where was I going to find an extra $25? Oh, woe is me. The world is ending.

But you know what? I did find it, resourceful gal that I am. And three months later, I didn’t even notice the missing $25. No, I didn’t charge it to the credit cards (that’s a no-no). I just didn’t spend it elsewhere.

So I increased my investing amount by $5 and waited a few more months. Still nothing. I kept upping it by $5 until I noticed the loss. That was when I knew to stop.

Being the laziest of the lazies, I set up the $25 to be automatically transferred every month from my bank account to a no load money market fund that a cute prepster banking dude helped me find.

"The Third Cure"
"Make Your Gold Multiply"
( Chapter 3 of The Richest Man in Babylon by George S. Clason paraphrased)

Check it, Ladies! Your purse is fattening! (with cash) You have disciplined yourself to save one-tenth of all your earnings. You have controlled your spending to protect your growing treasure. Next we will consider means to put your stash of cash to work and to increase for you. "Gold in a purse is gratifying to own and satisfies a miserly soul but earns nothing." The "gold", or cash, we may keep from our earnings is just the start. The earnings it will make will build our fortunes." (So spoke Prlinkbiz on the third day to her class.)

My first investment was unfortunate, because I lost it all...My first profitable investment was a loan I made to a girl named Betty, a purse maker....She was an honorable woman (a chick with some integrity!). Her borrowing she would repay, together with a nice bit of interest, as she sold her purses (not Fendi- but nice!).

Each time I loaned to her I loaned back also the interest she paid to me. So, not only did my capital increase, but it's earnings likewise increased. It was so very gratifying to have these sums return to my fabulous fattening Fendi purse.

I tell you ladies, a woman's wealth is not in the cash she carries in her purse; it is in the income she builds, the money stream (passive income) that continually flows into her purse and keeps it always bulging...

From my humble earnings I had gotten a whole lot of of "golden" cabana boys, each laboring and earning more "gold". As they labored for me, so their children also labored (not real kids ladies-nobody call CPS!), and their children's children until the income from their combined efforts was impressive....

This, then, my fabulous friends, is the third cure for a lean Fendi purse: to put your cash to work for you that it may produce more of the same (think rabbits here) and help bring you passive income, a stream of wealth that will flow continually into your purse.

“The quickest way to know a woman is to go shopping with her.”

I grew up dirt poor (as in, we couldn’t afford dirt). Like many people at the poverty level, my hard working family had no knowledge as to how to handle money. We knew how to spend it, sure, but investing? Nope. No one had a clue.

Of all the kids (and there were a lot of us), I had a natural gift for making money grow (my farming roots). I always seemed to be the one with loose change in her ragged, hand-me-down jean pockets. The others spent their money immediately on penny candy. I saved mine “just in case.”

My dear Mom recognized this and loved me enough to do something about it. She swallowed her insecurity and asked the nice couple down the street if I could petsit their Bernese Mountain dog, Mattie (as in Matterhorn, the mountain).

This couple had a modest single income yet my Mom had heard through the very efficient small town grapevine that they also had a thing called investments. She didn’t know quite what that meant, only that it was a good thing and had to do with money.

Over the years, I taught Mattie how to pull a sleigh and dance (by placing his giant paws on top of my head and wiggling his butt). In return, these neighbors taught me, the poor kid down the street, how to handle her petsitting money. They taught me how to keep a portion of everything I earn for myself, that there was more than one answer to every problem (my Mom had one answer, they had at least one other), and that my financial future didn’t have to be my Mom’s financial present.

Most of all they taught me about the power of mentorship.

I didn’t have the wealthiest couple in town as mentors. I didn’t need to. They were a couple levels ahead of me. Far enough ahead to make a change yet not so far that they couldn’t appreciate my issues.

Today, I still have mentors, financial and in other areas. Yes, sometimes when I ask others for assistance, I get turned down, but more often than not, people are happy to share their wisdom.

"The Second Cure"
"Control Your Expenditures"
( a paraphrased version of the third chapter of The Richest Man in Babylon by George S. Clason for discussion)

Some earn much more than others. Some have much larger families to support. Yet all purses seem equally lean. Now I will tell you an unusual truth about people. It is this: That what each of us calls our "necessary expenses" will always grow to equal our incomes unless we protest to the contrary.

Ladies, do not confuse the necessary expenses with your desires (read here daily trips to Starbucks). Each of you have more desires than your earnings can gratify. Therefore, your earnings are spent to gratify these desires insofar as they will go. Still you have many ungratified desires...(can I get an Amen?)

Study carefully your accustomed habits of living. More often than not, certain accepted expenses can be found that may wisely be reduced or eliminated. Let your motto be one hundred percent of appreciated value for each bit of money spent, as opposed to "I will literally be the old woman who lived in her shoes".

Therefore put in writing each thing for which you desire to spend that cash buring a hole in your Fendi (or not so Fendi) purse. Select those that are necessary and others that are possible within the nine-tenths of your income. Cross out and consider them part of that great multitude of desires that must go unsatisfied (like cabana boys rubbing our feet serving us drinks poolside, while others cook and clean) and do not regret it, girl.

Budget your necessary expenses. Do not touch the one-tenth that is fattening your fabulous purse. Let this be your great desire that is being fulfilled. Keep working with your budget, adjusting it to help you. Make it your first line of defense in defending your purse.

The purpose of a budget is to help your (soon to be Fendi) purse to fatten with cash, ladies. It is to assist you to have your necessities and insofar as attainable (and legal), other desires. It is to enable you to realize your most cherished desires by defending them from your casual wishes or sudden cravings. Like a bright light in a dark cave your budget shows up the leaks from your purse and enables you to stop them and control your spending for definite and more gratifying purposes.

This, then, is the second cure for a lean Fendi purse. Budget your expenses that you may have money to pay for your necessities, to pay for your enjoyments, and to gratify worthwhile desires without spending more than nine-tenths of your earnings.

"If you obey all the rules, you miss all the fun." -Katherine Hepburn

The Lovely Mrs. Davis has created a fun way to celebrate the 37th Anniversary of Seasame Street:

The 37th season of Sesame Street kicks off Monday, August 14 (today!) , and to mark the occasion, I'm planning a big celebration here. From my perspective, Sesame Street was - and still is - an incredibly important part of our popular culture, especially for the generation of us who watched it as kids and are now watching it as parents.

What television, music, movie or book from your childhood are you excited about sharing with your own children?

My thoughts? Seasame Street is actually on right now, and I can hear little kids voices (they better be my kids! lol) as they go back and forth between interaction with the show and their own distractions!

I couldn't wait to share Seasame Street with my little guys, specifically two things: The Pie Guy, and the 1,2,3,4,5,6,7,8,9,10, 11,12 song. The Pie Guy falls down the stairs with a tray full of creme pies- and for some reason, the day he did it with eleven- was my favorite and that's why I chose the number eleven as my favorite (no joke I wore it on nearly every jersey I had through Jr. High and Highschool!).

More than that though, and I know this is getting long (forgive me, I'm extra caffienated and nostaligic- a dangerous combination...) I find little things all the time that I loved as a child that I share with my kids. For example, my dad took me to Starbucks, and now I take my kids there. The other day, they tried their first Push-Up ice cream treat, and have recently become fans of Capri Suns and triangle Minute Maid popsicles! These are all things from my childhood, just little things that made me happy, and it's so fun to share that.

Ok, so I took a rabbit trail down food memory lane! But the most interesting thing is what we do remember about our childhoods, and how important it is to pay attention to the kind of memories we are creating for our little ones.

One of the easier sources of mad money that I’ve received has been housesitting.

Housesitting is similar to babysitting except that I’m looking after a house rather than a child. As you can imagine, houses are typically a lot less trouble. They don’t require their sandwiches to be cut into the shape of dinosaurs. They don’t microwave their Barbie dolls. They don’t escape from the fluffy white towel to run wet and soapy around an otherwise dry house.

August (and March break) is prime housesitting time. Many neighbors are at the cottage or in Florida or showing off school age children to proud but far away grandparents.

Typical housesitting duties require me to pop into the house (usually once a day), pick up mail and the newspaper, walk around the house ensuring everything is okay, water plants, etc.

What do I charge?

I factor in how far the house is from my home and what the homeowners wish me to do. I could charge as my base the same as a week’s newspaper subscription (which they should save while being away from home) and then adjust for distance and other factors.

The best way to get housesitting gigs is through word of mouth. I tell friends and family that I’m open to housesitting for a fee. Another source is travel agents. Surprise, surprise, travel agents know a lot of people who…gasp…travel. Usually good solid references are required. Criminal records are of course frowned upon.

Note: Some of my buddies have take housesitting to a whole other level. They look for long term housesitting opportunities (say at vacation homes) and offer to live in these homes while the owner is away. Normally they get free room in exchange for keeping the home occupied.

"Seven Cures for a Lean (Fendi) Purse"
( a paraphrased version of the third chapter of The Richest Man in Babylon by George S. Clason for discussion)

Listen up ladies to the knowledge that I have to share. Debate it with me. Discuss it among yourselves. Learn these lessons thoroughly, so that you may also plant in your own Fendi purse the seed of wealth. First each of you start wisely to build a fortune of her own. Then will you be competent , and only then, to teach these truths to other ladies

I will teach you in simple ways how to fatten your Fendi purses ( and not with wrappers, reciepts, and make-up- but with cash!). This is the first step leading to the temple of wealth, and no woman may climb who cannot plant her feet firmly upon the first step.

Ladies, we shall now consider the first cure.

Start Thy Purse to fattening. (The only kind of fattening that we want to hear is our wallets, not out thighs, amen?)

You can see that there are many trades and labors at which women may earn cash. Each of the ways of earning is a stream of money from which the worker can divert by her labors a portion to her own Fendi purse. Therefore into the purse of each of you flows a stream of money large or small according to her ability. Am I right here girls?

Then if each of you desires to build for herself a fortune, is it not wise to start by utilizing that source of wealth which he has already established?

Now I will tell you the first remedy I learned to cure a lean Fendi purse. Do exactly as I have suggested...

For every ten dollars you place in your purse, only use nine. Your purse will start to fatten at once and it's increasing weight will feel good in your hot little hand and bring satisfaction to your soul.

"Women want men, careers, money, children, friends, luxury, comfort, independence, freedom, respect, love, and three dollar pantyhose that won't run." -Phyllis Diller

Ok, so now that I have had three cups of coffee, I am ramped up and ready to go. This week is going to be a Richest Man in Babylon themed week...except since this is a woman's finance site, I'm going to do my own version of it geared for us ladies!

Anyone who wants to join me in discussion about the book, pick yourself up a copy and follow along. I believe you can get a free ebook, although it means signing up to someone's list- it was worth it to me- I did it this morning!

Free Ebook and Course Click Here

"Money can't buy happiness, but it can make you awfully comfortable while you are being miserable." -Clare Boothe Luce

We have a wonderful way to support the breast cancer cause and satisfy your cravings for M&M'S® Brand Chocolate Candies. October is National Breast Cancer Awareness Month, and we've created a special package of Light Pink and Dark Pink M&M'S® Brand Milk Chocolate Candies to symbolize our commitment to the cause. Each time you buy, you'll help fund breast cancer research and outreach programs.

The 14oz. and 21.3 oz. packages are available at select retailers during September, October and November 2005. Please help support the cause!
M&M'S® Brand will donate $.35 on 14-ounce packages and $.50 on 21.3 ounce packages to the Susan G. Komen Breast Cancer Foundation.*
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"The best time to plant a tree was 20 years ago, the next best time is today."

This blog should only be a portion of your financial learning.
There are some great books and websites and gurus out there, all willing to contribute to your knowledge.

We supply the Amazon links in our posts to help the lazy (I am one of the laziest people you’re ever likely to meet. If there’s an easy way to do something, I’ve found it) but that doesn’t mean that we want you to rush out and buy the books (uh, oh, someone isn’t going to get a holiday card this year from the publishers).

We, first and foremost, want you to be financially free. That way, you have more time to hang out on our site and chat with us (about other great topics like 80’s fashions, the Jolie-Pitt UN family, the latest Johnny Depp movie, serious stuff like that).

So instead of buying the books, why don’t you head to the library and borrow them for free (or for a small fine if you’re like me and forget to return them)?

Libraries are a great source of information and so convenient. I like to order the books in and then pick them up (told ya I was lazy). I also like to order a lot at a time (hhhmmm…might be the reason for the fines) so I come out of the library on a buzz similar to a shopping high (it curbs the buying beast).

In addition to books, my library has movies and music I can borrow. Computers with internet access are available for use (if the teenagers haven’t squatted on them, playing role playing games until their fingers are bloody, blistered stumps).

Oh, and travel tip…I find that many libraries, the world over (especially Europe and Australia) have free internet usage. It’s worth a look see.

My favorite episode of Sex and the City is literally a mini-class on women's finance!

Synopsis
"... At the bank, she's told that she's not a "desirable candidate" for a loan...On a shoe-shopping excursion with Miranda, Carrie realizes she's spent $40,000 on shoes..."

Lesson number five: Live Within, or better yet, Live Below Your means.

It amazed me what a simple principle this is, and yet one that seems so difficult for so many of us to do.

I have set up a budget, or plan for myself each month. I should be able to put away a good chunk of change into my emergency and investing funds. How is it that each month, no matter how much I bring in, something always seems to come up, or some new outfit needs to be bought?

If there is no plan, your money will flow into you, and then right out the bottom of your "boat"- you and I have got to plug the holes girls!

Each month, no matter what the current drama is, because drama isn't seasonal, and doesn't take vacations (and I would like to!), I try really hard to keep to my budget. I live below what I make, so I can put the extra aside. I pay myself first. The money I don't spend today on shoes, Starbucks, CDs, pedicures (oh wait, scratch that I need my pedicures!)- what ever I can live without today, without completely depriving myself of all enjoyment, will get me that much closer to my dreams tomorrow.

Start small, put away something! Give up one thing you can live without, knowing that the money you save can be used to invest. If we invest our way to financial freedom- then, ladies, we can have our Manolos and wear them too!

"Happy people plan actions, they don't plan results."

Reading Your Money Or Your Life by Joe Dominguez and Vicki Robin changed the way I looked at money.

Before discovering this book, I listened to the financial gurus talking about having to save millions of dollars on my lower than average (at the time) income. It seemed as hopeless as sticking to a diet at an all you can eat buffet. Impossible. Out of reach. So why even try?

Why indeed.

I had another why. Why do I need millions of dollars in investments earning hundreds of thousands of dollars in income when today, I live happily on much less? Does that make any sense to you? It didn’t to me.

And it didn’t to the authors.

In this classic financial book, Dominguez and Robin discuss the concept of financial independence. In a nutshell, financial independence comes when money from investments (called passive money) equals or is greater than expenses.

The financially independent can pay their bills without having to work another day in their life.

The lower the expenses, the lower the investments needed.
The higher the income (return) earned by these investments, the lower the investments needed.

Suddenly, financial freedom went from impossible to very possible.

So if I made $60,000 with investments earning 8%, I need $60,000 / .08 or $750,000 in investments. Much less than the millions financial planners told me.

But what about inflation?
Inflation is the increase in the cost of goods. If you bought a box of Godiva crème filled chocolates today, it costs more than a box of crème filled chocolates ten years ago.

Of course that’s a factor but considering I’m not spending all my $60,000 today (how could I? I need a portion of that to invest with), I’m not too concerned.

If I was concerned and I wanted to be very, very safe, I’d subtract inflation from my return.
So if average inflation was 3%, I need $60,000 / (.08-.03) or $1,200,000 in investments to be financially free today.
Over a million, sure, but still not the millions and millions predicted.

Repeating…The Financial Independence point doesn’t rely on what you MAKE but what you spend.

My favorite episode of Sex and the City is literally a mini-class on women's finance. Whats the lesson of the day? Let's see...

Synopsis
"...After another failed relationship, she (Carrie) wonders: What's it all worth? ...On a shoe-shopping excursion with Miranda, Carrie realizes she's spent $40,000 on shoes. In dire straits, she pays Big an official visit and asks for some financial advice. He gives her a check for the down payment. Miranda and Samantha also offer to loan her some money, but Carrie says she can't accept their offer. She rips up the check from Big...

Later, Carrie storms over to Charlotte's apartment and asks her why she didn't offer her the money. Charlotte says it's not her job to fix Carrie's finances. Carrie is outraged at Charlotte's lack of support, especially since Charlotte doesn't even have to work. She also remarks that Charlotte isn't exactly the picture of independence as she's still wearing her engagement ring.

Carrie and Charlotte apologize to each other. Charlotte admits that she is having trouble giving up being "Mrs. Trey McDougal." So, to free herself of her past and give Carrie a future (and home), she offers Carrie her ring as a loan. Carrie accepts."

Lesson number four: Other People's Money (OPM)

While you may not have friends to borrow money from, or may not want to go that route, the idea of OPM is a powerful one.

It takes money to make money...however, that money does not have to belong to you.

Bring something to the table, if not the money, than the deal, the credit, the idea, etc. Be creative! And don't be afraid to ask. You'll never know unless you do. And if you ask enough people, someone is bound to say yes!

There are two financial measurements that every hip young (or not-so-young) temptress is sporting this (and every) season, net worth and cash flow.

Net worth is what you have (assets) minus what you owe (liabilities).

Cash flow is money coming in (revenue) minus money going out (liabilities).

The two work together better than What Not To Wear's Stacy and Clinton.
And with a lot less cattyness too!

A positive cash flow increases your net worth (adding to your piles of cash).
A negative cash flow decreases your net worth (Lions, and Tigers and Bears! Oh My!).

The goal is to increase your net worth (retiring young and thin on some exotic island with hunky cabana boys catering to your every whim...wait, that's a dream, not necessarily a goal).

But net worth can help or hinder your cash flow too. Investments can add cash to the kitty (purrfect, sorry couldn't resist) while liabilities can suck cash faster than an out-of-work in-law.

If you don't know what your cash flow is, track your cash for a month, then factor in any once a year expenses (like holiday presents for your ever reproducing friends and family).

If the cash flow is less than you wish, the solution is weight loss simple. Consume (spend) less or work out (earn) more.

Actually, it's easier than weight loss simple (thank goodness). There are many more, much less painful ways to accomplish financial fitness than physical fitness (give up chocolate? Are you completely nutbar? Obviously dear Doctor, you have never dealt with me during a chocolate craving. I make Cruella De Vil look like Cinderella.).

Photo courtesy of Virtual Chocolate

My favorite episode of Sex and the City is literally a mini class on women's finance!

Synopsis
"...After another failed relationship, she (Carrie) wonders: What's it all worth? ...On a shoe-shopping excursion with Miranda, Carrie realizes she's spent $40,000 on shoes. In dire straits, she pays Big an official visit and asks for some financial advice. He gives her a check for the down payment. Miranda and Samantha also offer to loan her some money, but Carrie says she can't accept their offer. She rips up the check from Big."

Lesson number three: "When a man gives you money, you give him control." -Miranda
(again...a man is not a plan!)

There is a old adage (proverb) that says "the borrower becomes the lender's slave". This advice is, of course, gender neutral.

However, this is a pitfall that we as women seem prone to, by our very make up (and I'm not talking about mascara here!).

Nothing against men, but as women, we need to always be in control of and aware of our finances. Period.

I was a stay at home mom for five years and fell into the, "Well he makes the money, so he should make the financial decisions" mindset. The man I trusted almost ran our family in the ground, and I shudder to think where I might be if I hadn't stood up for myself and taken control.

Nobody should make your financial decisions for you, not a financial planner, not a father, a husband, brother, boyfriend etc.

Always know the state of your finances, and always ask yourself what financial help from a man will ultimately cost you. It could be more than just interest, it could be your self worth, or even your future at stake.

Always carry your own purse ladies! (Fendi or not! lol)

"If we could sell our experiences for what they cost us ... we would all be millionaires."

- Abigail Van Buren

My favorite episode of Sex and the City is literally a mini-class on women's finance! Here's part two:

Synopsis
"...After another failed relationship, she (Carrie) wonders: What's it all worth? ...On a shoe-shopping excursion with Miranda, Carrie realizes she's spent $40,000 on shoes."

Lesson number two: Find out where all your money goes (you know made some!).

For the longest time, I was not a fan of having a budget. Ick. Just the word sent horrifying images of want and cheapness through my mind. Then one day I was reading The Richest Man in Babylon by George S. Clason, and had an epiphany (doesn't happen often ladies..not the sharpest tool in the shed here! lol).

A budget is simply a plan for your money. That's it. It's knowing how much you have and making sure it gets where it needs to go. Hey- even I can do that! You know what I discovered? I bought enough Starbucks last year to cover a down payment on a house!!!

I signed up to MoneyPants.com, which is a simple and fun way to keep track of things each month. Some girls are completely organized about everything- some us of are not so much! Who you are will determine a lot of how you go about it. If you absolutely cannot keep track yourself, try hiring a bookkeeper to keep you accountable.

However you go about it- know where your money goes each month, and make sure you pay yourself so you have money to invest in your future!

Don't let this be your motto:
"I will literally be the old woman who lived in her shoes." - Carrie

So you've calculated your net worth and you have a number. What does that number mean? are you normal? Are you doing okay?

One of the benchmarks that I use is found in Thomas J. Stanley's book Millionaire Women Next Door.

Stanley has been studying millionaires about as long as I've been alive (don't tell him that, poor guy). He was fascinated not only by the rich but also by ordinary people with extraordinary wealth.

If I make $1,000,000 a year (I wish, that along with a gorgeous body and kiss me lips would get me the last name Pitt and a guy named Brad for a hubby), I should have a higher net worth than someone making $10,000 a year.

And I'd need that higher net worth to maintain my high flying, movie star lifestyle (and those of the bundles of orphans I adopt).

To compensate for income, Stanley came up with an equation separating the financial women from the girls.

Your Expected Net Worth = Your Age X Your Annual Realized Income / 10

So if I was 35 (and fancy that, I am) and making $60,000 a year, my calculation would be;

My Expected Net Worth = 35 X $60,000 / 10 = $210,000

I should, by Stanley's calcs, have a net worth of $210,000.

If my net worth is above $210,000, then I'm doing fantastic, above average.
If my net worth is below, well, not doing so hot, am I? I'm below average.

This equation doesn't really work for new graduates although it did drive me to play catch up. Keener that I am, I didn't appreciate starting my worklife financially behind. That may be why today I'm financially ahead.

"Confidence is the sexiest thing a woman can have. It's much sexier than any body part."
Aimee Mullins, Oprah Magazine, May 2004

When money is tight, it’s so easy to make excuses not to invest. I’m great at excuses. Give me something I don’t want to do and I can find an excuse.

Taking care of my future self is too important to listen to these excuses. She’s depending on me and only me. I can’t let her down by falling into the “I’ll invest later” trap.

Instead I turn to my list of quick cash ideas to get me through the dry money stint.

One such idea is to participate in a focus group.

One of the stages in new product development is to hold a focus group (usually in larger cities). Basically the company gathers a group of “average” people in a room and asks them questions. “Do you like this commercial?” “How does this commercial make you feel?” (They’re hoping you’ll say “like running out and buying the product right this second” but that, like me winning the Powerball, never happens).

For giving up my time, I get paid. Last focus group I did (on a funky new credit card) paid me $100 for one hour of my time.

How did I find this opportunity?

I looked in the job want ad section in the paper (most libraries stock the local paper). There was an ad looking for a female Ford truck driver, offering money for her opinion. Now I wasn’t a Ford truck driver but I knew that if they were looking for people to give opinions on this topic, they likely were looking for people to give opinions on other topics. So I called and signed up.

I was put into a database. Every week or so, I’d get called to ask if I wanted to participate in the focus group. They’d ask me qualifying questions like my household income level, marital status, product related questions, that sort of thing (I'd never give out more personal information like my social security number)

Then I’d be sent to a location (I'd always make certain I told another responsible person where I was going, I usually also check out the company with the Better Business Bureau and Google the name to see if there are any complaints, oh and I match the location I’m being sent to the company address in the phone book). I’d sit in a videotaped room with a group of others and a moderator, answer questions and get paid cash at the end of the session.

Quick easy cash. The only drawback to this idea is that focus group companies only like me to do one focus group a year. This is to prevent “professional” focus group attendees (remember we’re supposed to be average people).

One of my favorite episodes of Sex and the City is actually a mini-class on women's finance! I decided to turn it into a blog series! Why not?!

Synopsis
"Unable to say goodbye, Carrie turns away as Aidan moves out of her apartment and her life. She finds what she assumes is a "goodbye letter"; in fact, it's a legal document giving her 30 days to either buy back her apartment or vacate it. At the bank, she's told that she's not a "desirable candidate" for a loan. After another failed relationship, she wonders: What's it all worth?"

Lesson number one: Buy your own place. (aka: a man should not be your real estate investment plan)

Of the many things a woman should have, her own place is at the top of the list. Not only will you stop throwing money away (as I have had drilled into me by a very financially savvy girlfriend!), but you build equity, networth, and increase your ability to leverage -some things you can measure. In addition, you also gain those things which are more difficult to measure, such as security, self-confidence, and freedom. (Not too mention you can paint the walls any color you darn well please, even if that happens to be an outrageously bright pink, and no "mans" can say anything about it!)

Whether you are currently single, or find yourself with a "mans" (or whoever you find in and around your place) get your finances together, find out your current credit score, get some $ for a down payment, and go shopping for a place you can call your own!

"My philosophy is that not only are you responsible for your life, but doing the best at this moment puts you in the best place for the next moment."

Oprah Winfrey

I'm am planning to make this 'Self Reflection Sunday", however, I digress...

I picked up a copy of Glamour magazine (for an article about luxury stuff I can afford). In the news section, there is an article I wanted to share with you. No matter what your politcal views, there is something here for each of us!

5 Ways to be Fearless
"1. How to be fearless about speaking out:
Before women can lead in the world, we have to confront the fear of speaking out. My biggest fear on that front was always my thick Greek accent. But I found that no one pays as much attention to our humiliations as we do. Had I not overcome the fear of being publicly embarrassed, my whole career, in fact my whole life would have been different.

2. How to be fearless about love:
Many women fear disapproval from the men in their lives. But you can't be in a satisfying relationship and be looking over your shoulder for approval at the same time. You've got to choose. Otherwise you'll never be able to reveal your true self in this most intimate of relationships. Indeed, you won't even know your true self.

3. How to be fearless about your looks:
I still cringe at how self-conscious I was as a teenager. I was freakishly tall, standing 5'10" at age 13, with unruly curly hair, heavy acne and thick glasses. I feared I would never be attractive to boys. When I got to college, I began dating, yet most of my happiness came not from my relationships but from learning to debate and enjoy the clash of ideas. That was when I understood that the greatest beauty secret is to live out your own passions.

4. How to be fearless about your career:
For many women, the fear of failure leads to taking fewer risks and a reluctance to reach for the stars. "Whenever I get a new job," says Willow Bay, who has been a news anchor for both CNN and MSNBC, " I am afraid that I won't be able to do it. My husband, Disney CEO Robert Iger, is never afraid in that way. He eagerly ebraces his new professional challenges without ever questioning his ability to deliver. He dives right in." The lesson? Excessive fear about the consequences of success, or failure, isn't going to help us advance.

5. How to be fearless about life:
In 2003 I ran for governor of California. As exhilarating as the experience was, it also had it's bruising moments. Arnold Schwarzengger expressed his displeaure at having to debate a full-throttle female by suggesting that I drink more decaf- a comment that is hard to imagine being addressed to a man. But the biggest lesson I took away from that campaign is that being "in the ring", fighting the good fight, is always more fulfilling than watching from the sidelines. You may not win the contest, but that deosn't mean you don't win."
(5 Ways to be Fearless from Glamour Magazine September 2006 page 279 adapted from Arianna Huffington's new book On Becoming Fearless...in Love, Work, and Life)

And now a chance for you...

"We need your FEARLESS STORIES for new section of Huffpost - Politics Aside!
"I wanted to invite all of you - and your readers - to share stories about Fear and Fearlessness with us. We're looking for 400-500 word stories/essays/posts, etc. but shorter or longer is fine too!" (More information here.)

I wanted to share this little article because I believe that having money just for money's sake does you, me and the world no good. Being financially indpendent, or perhaps independently wealthy, affords us more opportunities to give back and help others! Tithing is a very important financial principle!

Oprah Winfrey: Wealth Is 'A Good Thing'

TUESDAY APRIL 11, 2006 04:00PM EST
By Stephen M. Silverman with Susan Mandel
Oprah Winfrey: Wealth Is 'A Good Thing' | Oprah Winfrey
Oprah Winfrey is a rich woman – and she's got no problem with that.

Speaking in Baltimore on Monday at a fundraiser for Beth Tfiloh Dahan Community School, Winfrey told the audience, "I have lots of things, like all these Manolo Blahniks. I have all that and I think it's great. I'm not one of those people like, 'Well, we must renounce ourselves.' No, I have a closet full of shoes and it's a good thing."

Winfrey, 52, who is reportedly worth more than $1 billion, said she doesn't feel guilty about her wealth. "I was coming back from Africa on one of my trips," she said. "I had taken one of my wealthy friends with me. She said, 'Don't you just feel guilty? Don't you just feel terrible?' I said, 'No, I don't. I do not know how me being destitute is going to help them.' Then I said when we got home, 'I'm going home to sleep on my Pratesi sheets right now and I'll feel good about it.' "

The talk-show host also discussed an academy for girls that she's building in South Africa. "I want to offer opportunities to girls who have nothing but the will to learn," she said. "I'm going to be opening my school on January 2, and it will be one of the great days of my life to see 450 girls, most of them orphans who would not have had the opportunity for education in their lives, come to school."

Winfrey was the featured speaker at the event, which helped raise more than $1.4 million for scholarships to Baltimore's largest Jewish school.

"The real voyage of discovery consists not in making new landscapes but in having new eyes."

I’m a prissy uptight suit girl. I love my suits, my silk camies, my pumps, anything that screams banker babe, but I also love building my investment portfolio.

So how do I do both?

By never overspending on either.

Reducing my clothing bill requires planning. My core clothes being basics and relatively timeless are bought off season at outlet malls (and sometimes higher end department stores). I buy my summer clothes for next year at the end of this summer when retailers are clearing out and marking down merchandise.

Classics are classics. This year’s black blazer is very much the same as next year’s black blazer. Might as well buy this year’s at 90% off and invest the difference.

This is a great idea for presents also. I have a few classic sweaters and cardigans in my emergency gift stash (not to be mixed up with other stashes) for last minute Christmas presents.

For women’s suits, I live on the wild side and risk hand washing with hang drying rather than drycleaning. Environmental and health issues aside, since I buy at such a discount, it only makes sense to hand wash. If I buy a suit for $30, I’m not going to spend $10 to dryclean, am I?

I use shampoo to wash my suits with (best at getting out body grime). Wash in cold (less color running) and hold onto the shoulder pads so they don't shift.

Caution: I have ruined a few good suits this way (let us pause for a moment of silence) but then I also own blazers with over a hundred washes and they still look good.

I use accessories (and a couple irresistable whimsy buys) to participate in the current trends.

I learned this lesson the hard way in my youth. The trend being neon. I broke my meager clothing budget on a neon pink t-shirt. The rest of the year, at least one day out of the week, I wore that eye popping t-shirt. The first week, I got noticed. The second week, I got teased. By the end of the school year, it was a never-to-be-forgotten-even-to-this-day joke. I will be sitting in my rocking chair and hear about that shirt.

Once bitten, twice shy (this saying does not apply in all situations). Today, I would have bought a white t-shirt and a neon belt.

"He who reigns within himself (herself) and rules his passions, desires, and fears is more than a king.(queen!)" - John Milton

Chapter three: Selling the biz

When I finally decided to sell, I went to people I knew first, who might have an interest in the business. One of our clients had asked to be the first franchisee when we got to that point (that was the goal). I figured she already had experience in the business and has expresses interest, so I offered her first chance at it. And she wanted it.

From there, since it was a new business, I set the price by what I had put into starting it, and what I had made from the business that year. After working out the details, I drew up my own contract! Half up front, I carried the balance for a year, and then a lump sum payment. That was it!

I was entirely too friendly with my buyer, and instead of my lump sum, I have had to extend the payments out, which is not the situation I hoped for.

I don't know if this will help anyone. It should be titled "what not to do when starting a business". We can't be afraid of making mistakes, or be so afraid of doing things "the right way" we never do anything.

A side note: A year after I sold the business, I picked up a copy of The Art of the Start by Guy Kawasaki. I wish I had read this before I started the business, instead of after! ( I'm always doing things bass-ackwards! ) I highly recommend this book- it really is for anyone starting anything!

Before you decide where you’re going financially, you might want to first figure out where you are.

It’s like freshening up your closet. First, you look at what you have, then you decide what you need. If you have fifteen pairs of black dress pants with the tags still on, well, call me crazy but maybe you shouldn’t buy another pair. A suggestion…some tops to go with those pants, perhaps?

An inventory of your financial goodies (Beverly Hills mansions, the Star of India, etc) and baddies (those nasty credit card balances, the dollars you’re owing your loan shark named Gino, etc) is called a statement of net worth.

And it’s as simple as that. What you have (your house, your investments, your retirement funds, your collection of bobble head dolls) minus what you owe (mortgage, credit card bills, student loans, the amount you borrowed from your best bud to buy that pair of Superman Returns flipflops) is your net worth.

Now there are differing opinions on what you should include on the list of what you have (your assets). Some folks like to list only official investments (investment real estate, stocks, bonds, cash, the value of your business) while some list everything (including the extra rolls of toilet paper underneath the sink and the street value of their significant other). It’s really up to you. I include my official investments plus my house.

How do you value what you have? I value what I have at what I would get if I had to sell the item today. Think of if you had a big yard sale today. What would you get for your cherished possessions? Or not so cherished possessions. Your used socks? You’d likely have to pay someone to take those!

What you owe (your liabilities) is simpler. It’s what ya gotta pay back. If you’re not sure about what you owe, ask. You’ll happily be told.

Once you have those two values, subtract what you owe from what you have. The number could very well be negative. At least now you know and you have something to work with. The goal is to make the number positive and a big enough positive that you can live the life you wish.

"People with goals succeed because they know where they are going... It's as simple as that."

- Earl Nightingale

Chapter two: the launch

By the time October and the trade show arrived, we had a decent list and website to work with. We were confident that we were going to be rich- that day at the trade show. lol We spent our last few dollars on trade show things, and went for it. Three days we stood, explaining our new concept to people. We got a lot of support, some naysayers, even one contractor who put our information down and ran away. But not one sign up. We left with less money than we started the show with.

What we did make were two very important contacts: 1) a local celebrity who was hosting the show who loved the idea for our service, and (2) a real estate magazine publisher who was looking for a service like ours.

Over the next few weeks, I struggled to keep the business alive. After our unsucessful launch (read here: we didn't make a million dollars) my partner bailed on the business. I tried an email blast (for free, based on a percentage of sales),which didn't work. I ended up restructuring the whole business, and had a whole new site built (trading out work).

I managed to convince my partner to give it another shot. And he did, half heartedly. In hindsight I should have let him go, it was tricky being married though! We literally begged our way through Christmas time, and were supported by friends , family and the local church as we struggled to make the business work.

About that time, the connections we had made came into play. The RE magazine publisher gave us a free half page ad in their first and second publications, which had a distribution of nearly 28,000. The local celebrity wrote an article about us in the AZ Republic (huge!), and she also had us on her radio program! We had also made the acquaintance of a the owner of EZsitemaster.com who gave us a new site! I had also begun to make friends with other business owners and started linking to their sites.

Slowly my partner wanted out, and I began looking at other options. I looked at bringing in a new partner, hiring a sales staff, getting investors, franchising, etc. (LOL I tried to talk MJ into buying it! LOL) Just when the business was really starting to find it's rythym, I decided to sell.

I don’t know about you but my high school math is a little fuzzy (and lets not even talk about memories of the prom. I still haven’t burned all existing photos of me in that hideous polyester purple dress that I simply had to have. Barney meets Dynasty. Yeah, I could fill up an entire episode of What Not To Wear with my horrible high school fashion choices).

I’m sure that I must have taken algebra and calculus. I needed it to graduate. Though I can’t remember a thing.

Luckily I don’t need to.

At least not for investing (maybe for rocket science so I hope I don’t have to do any of THAT anytime soon).

Sure, there are investors, investors enjoying good, solid returns, using complicated formulas and charts that make me go cross-eyed when I look at them. You can use them too if you wish.

But they aren’t necessary.

I’ve been managing my money and investments successfully for years and I’ve never used any math more difficult than addition and subtraction, multiplication and division. Grade school stuff.

Even when those simple math skills are needed, I use my handy dandy calculator (I’ve had Texas since high school, one of my better choices) or a computer.

‘Cause isn’t that what these tools were invented for? To give my brain a break?

No, fancy math skills aren’t required for success in investing so don’t even think about using that as an excuse!

"Aim for success not perfection. Remember that fear always lurks behind perfectionism. Confronting your fears and allowing yourself the right to be human can, paradoxically, make you a far happier and more productive person."

- Dr. David Burns

Chapter One- Bootstrapping an idea to life

I read the Rich Dad Poor Dad series three years ago, and decided, I could do that. So I thought about businesses I could start. Being familiar with the construction industry (I was married to a painter at the time), I saw the need for good contractors to differentiate themselves from the bad.

First key: I saw a need

Then I researched my idea to see if anyone was currently meeting the need. I did my due diligence, as far I I knew what that was! Basically I searched any key words I could think of online and what it turned up! lol I would literally be reading a book on how to do something and then go do it!

Second key: Due diligence

I saw there was market for my idea, and nobody was doing it the way I thought of doing it. So, I decided to go ahead with it.

The first step I took was to set up my LLC. That was $500 out of my own pocket. If I had to do it again, I would have waited to set up my entity, because I didn't really know what would be the best fit at that time and I could have used that money for other things.

I didn't have any sort of plan, not at all! LOL In fact the whole time I had the business, I never had a plan. Not saying thats good! I just had a vision of what I wanted to accomplish, and knocked on every door I could to try to make it happen.

During this time, I was reading voraciously, and found myself trying to hire a business consultant and seek out an attorney ( I thought I needed a team). Neither worked out, thankfully.

I worked and worked on my idea from April- August. I literally created everyting from scratch. Then I brought in my spouse (at that time) as a partner in August, and we literally "burned the ships" to work on the business full time.

These are a couple of things that turned out to be horrible choices in my case. First of all, my "partner" was not completely on board and committed to the idea. Second, we had no savings to speak of and we had no cash flow for living expenses. We did have additional out going money because of the business, and any money we did make went right back into the business.

That is why it is good advice to start a business part-time. You can't do anything without cash flow.

We set a launch date for October (two months) at a local trade show, and we worked hard to have people in the database, as well to have a database itself! It was easy enough to convince someone to help us build a website (no money into it), however, selling a completely new service concept (especially without the site) was much more difficult than we had anticipated.

We also didn't have the money for the trade show booth, but I was able to convince the trade show people to give me more time. Then we partnered with one of our new clients to split the booth cost with them. We borrowed our half of the booth cost from family. We also borrowed money from family to print up brochures and business card, and I convinced the graphic designer to delay payment for his services.

Here is where the ability to sell is KEY! If I wasn't enthusiastic and confident in my idea, I never would have gotten that far! (It doesn't hurt to be good with people!)

"Fight one more round. When your arms are so tired that you can hardly lift your hands to come on guard, fight one more round. When your nose is bleeding and your eyes are black and you are so tired that you wish your opponent would crack you one on the jaw and put you to sleep, fight one more round – remembering that the (woman) man who always fights one more round is never whipped."

- James Corbett

I was walking in a trendy, yuppie (do yuppies still exist? Or did they go the way of MC Hammer? Can't touch this) part of town with a glam puss girlfriend. We had dinner earlier at the new city hotspot where the meals look beautiful but couldn’t fill up one Kate Moss.

My single friend was giving this married woman all the dirt on her crazily interesting life (which put my story on how I fixed the washing machine into perspective). Lets just say that she has it altogether, a great jet setting career, a sweet little loft, a few too many boyfriends (doing crazy things with tongues), killer shoes.

We passed a little ol’ lady (what happens to all the big ol’ ladies?) digging cans out of the garbage. My friend sighed, “That could be me someday.”

My Sex In The City gal pal worried about being a bag lady?

Shocking. More shocking ‘cause she’s not alone.

One in four women, regardless of wealth, worry that they’ll end up a bag lady, homeless, on the street with rags on their backs, cardboard shoes and nothing to eat.

Could it happen?

Sure. Running out of money is a possibility.

But that possibility shrinks with education, a Kate Spade bag full of investments (always helps) but most of all control. Control over your time, your money, your future.

Interestingly enough, men don’t have bag lady (bag boy? bag men? bum?) worries. Or maybe as with asking for directions or feelings or what they’re REALLY thinking, they just don’t talk about it.

(Reposted from the original telling, with some extra tid bits added for fun!)

I picked up the book Rich Dad Poor Dad while aimlessly shopping at that fine french store, Target, one day. I was a stay at home mom with a three month old and an 18 month old. I read the book in two days (you ladies with kids know that is an incredible feat! lol) I decided to take action, like many of you here today. So I'd like to share my story with you over the next few days, to start a conversation that will hopefully inspire and encourage you!

Boostrapping an Idea
The Launch
Selling the Biz