No Limits Ladies.com

Was watching CNBC’s High Net Worth this weekend (basically an infomercial hocking high end products that I’d have to mortgage the house to afford) and Phil Town was on, talking about his investment strategies.

Phil Town, author of Rule #1, years ago borrowed $1,000. Five years later, he had built that $1,000 into a million smackaroos. Yes, it can happen, folks. This former teepee living, Harley man doesn’t claim to be the sharpest pencil in the box either. He merely took learnings from his mentor and applied it consistently, year after year.

Some of those learnings?

Well, Town’s rule #1 is the same as Buffett’s…Don’t lose money (sounds easier than it is). He also talks about buying wonderful businesses at attractive prices (hhhmmm…that sounds familiar too). Add to that, invest in what you know (always good advice) and hold only a handful of diversified stocks in a portfolio (difficult to keep track of more).

His simple steps are;

1) Find a wonderful business that you understand
2) Know what it’s worth by predicting its future stock price
3) Buy it at 50% off... and then sell at full price when the market corrects its value
4) Repeat until rich

And he goes into detail on how to know what a business is worth (which is a valuable exercise and worth the price of the book, especially if the book is borrowed from the library).

Now, he claims that this process will only take 15 minutes a week. However, that 15 minutes is once the core portfolio is drafted (at maintenance stage) and once you know what you’re doing. It takes longer to find the stocks an investor wishes to focus on and there is, as with anything else, a learning curve.

But it’s a curve worth exploring. Again nothing new in Phil Town’s strategies but having it in one easy to read (though male targeted) book is handy.

We women are often times trusting romantics. We dream of the perfect man who will love us, sweep us off our feet to live happily ever after with. Enter reality. Men, I think, are like deals. There are many good ones out there, but they are hard to find since there are so many more bad deals. Often we are just happy to find a "deal" (aka man- sorry guys), we don't take enough time to take all the information into account to see if this "deal" is a trick or a treat.

Trick

Not turning tricks (although that may be less painful and more lucrative than a relationship with a trick of a man), but a man who is a trick. From my own experience, you can see tricky men, the signs are there from the begining if you are looking for them. Educate yourself on how to spot a dangerous or trick of a man and surround yourself with people who will tell you the truth and support you. Sometimes our upbringing may leave us predisposed to accepting certain kinds of unhealthy or tricky men into our lives. Love is blind but friends usually are not.

There are universal red flags that all women respond to when we are in the presence of a trick of a man. There are mythical assumptions about what a tricky man looks like.

Myth #1 Tricky men have dangerous jobs like being a drug dealer, they couldn't possibly be firemen, social workers, teachers or ministers. WRONG!

Myth #2 Tricky men couldn't possibly come from good families. WRONG!

Myth #3 Tricky men look tricky, not clean cut, handsome, or conservative. WRONG!

Myth #4 A Tricky man will probably only come into my life once. I've already dated one, I probably won't date another one. WRONG!

Myth #5 Tricky men aren't likely to spend a lot of time getting to know me. I've talked to this man on the phone for weeks now without going on a date with him. He couldn't possibly be a tricky man. WRONG!

Myth #6 Tricky men don't go to church, volunteer, or give to charities. WRONG!

Myth #7 Tricky men don't disclose information about themselves. The man I am interested in has told me all about himself, so he couldn't be a tricky man. WRONG!

Treat

Now, I have spent a lot of time trying to warn you against tricky men. I have met my share and even married one that turned out to be a trick instead of a treat. I'm not sure I would have recognized that though, until I met a man who opened my eyes. I didn't know these guys existed, these men who are really men- treats not tricks.

These men are not perfect, but they do their best to be men of integrity and fulfill their responsibilites, they try to do the right thing because it is the right thing to do. There is nothing sexier than a man who gets it done ladies (get'r done). Hold out for these treats, these good deals, these real men.

We should not expect to be completed in anyway by these men (romantic in Jerry McGuire- but BS in real life ladies), nor should we look to them to take care of us. We should be healthy and financially stable on our own, so we don't find that we are the trick instead of the treat!

"We have petitioned and our petitions have been disregarded, we have entreated and our entreaties have been scorned. We beg no more, we petition no longer, we now defy."

- William Jennings Bryan

I consider Halloween to be the start of the party season. With Halloween, Thanksgiving, the holidays (whichever ones you celebrate), weekends and even weekdays are starting to fill up.

‘Course anyone who has ever hosted a party knows that parties don’t plan themselves. They are a lot of work, too much work for some people. Those people (lazy people like me) provide an opportunity. An opportunity to make money off of superb planning skills.

There are many, many sites on how to start a party planning business. I won’t rehash their excellent advice. However, being a project manager myself (and what is party planning other than project management?), I do offer some suggestions.

I learned early on in project management to not do everything myself. I find partners to delegate tasks to.

Sure, I could probably do components better and for less cost but I know that 99.9% of my time is going to be sucked into firefighting, dealing with those last minute situations, that can turn a dream party into a nightmare. I could very well end up baking the turkey (if my caterer wins the lottery two days before) but how can I bake the turkey if I’m already making centerpieces.

You see my point. I free up my time so I can deal with emergencies.

I also have back ups for every key component. I have a caterer and a back up caterer (willing to fill in last minute for a higher fee). I have a table supplier and a back up table supplier. I’d prefer to take a cut in profits than disappoint.

Because party planning is a word of mouth business. A good party planner keeps those mouths smiling. That means not picking up constant complaining clients (the clients who would find a fault in the Hope Diamond) and keeping the clients they have happy.

"In the end, we do battle only with ourselves. Once we understand this and focus our energy on what we can do to control our lives... we begin to gain important insights into how life works."

- J. Stanley Judd

"Humankind has not woven the web of life. We are but one thread within it. Whatever we do to the web, we do to ourselves. All things are bound together. All things connect."

- Chief Seattle

Most of us reach for the same ol’ clothes day after day. Our faves, the clothes (usually black) that make us feel skinny on those dreadful fat days, the skirt that makes us feel flirty, the basic interview suit that boosts our confidence.

But every once in a while, we look in our closets and find nothing. “We have nothing to wear” really means “we have nothing NEW to wear” (not that we’re going to spend the day stark naked…hhhmmm…though, no, never mind).

One fortunate thing about living in the frozen north is the changing seasons. Having a summer, fall, winter, and spring gives me not one wardrobe but at least two, if not four, wardrobes.

I don’t keep the off season clothes in the closet because…well…then I’d look at them everyday and they’d no longer be new to me. I pack them up and hide them (under the bed or merely keep them in boxes). Then when the seasons change, it’s like taking a shopping trip in my closet. I may buy some trendy accessories to participate in the here and now, and I might toss the so yesterday, but I don’t have the burning need for a total overhaul.

Now some of my lucky girlfriends live in forever summer. These gals don’t have the newness of seasons to give their looks a much needed pop. Instead these savvy sophisticates artificially rotate their clothes. They create their very own seasons.

L.L. Bean

I was raised by a single mother. Most of my friends also had single moms. My mom worked hard and also went to school. We didn't have a lot of money, or home cooking- we ate regularly at Taco Bell. I spent a lot of time at babysitters and day care. I always had to ride the bus or gets rides from the friend whose mom stayed at home (that was so novel to us). I played volleyball, basketball, softball, and also was a cheerleader. My mom was rarely able to come to games unless they were on Saturday morning. She wasn't there because she was busy providing, even though we lived pay check to pay check and never had financial security.

My mom did the best she knew how to do. Although I had no intention of getting a divorce and being a single mom myself, that's what happened. (Whole other women's issues that scare me story!)

I was determined for things to be different with my kids. I had been out of the work force for a few years, I knew I did not have the skill set I needed to provide well for my kids; I couldn't have jumped into any job and ramped up that quickly. I did not want them to be in daycare while I worked long hours if I could help it, so how could I do it?

If I hadn't read Rich Dad Poor Dad( my story here), and been learning about business, investing and money, as well as surrounding myself with like minded people, I would not have been able to provide for my kids and be there for them. I am so thankful everyday for the decisions that I made and the people I have chosen for friends. I became financially free this past September through a business investment with one, so I can still be a stay at home mom.

There are so many resources today for single mothers (parents, married, etc). The internet has leveled the playing field, so I can keep in the game, from home with my kids. I work with Kim Kiyosaki developing Rich Woman (from home) because I can and I want to, not because I have to. I am still pressing on in business and investing because it gives me the greatest return for my time and money as well the freedom, flexibility and control I want.

The key is in learning how to make your money work for you, instead of working harder to make more money. What kind of life do you want? Figure out how to make it happen. Plug into a group of people (or women like us here at No Limits Ladies) who will help guide you and support you, like I did (Kimber too!) at the Rich Dad Forums.

Ladies, it doesn't matter what mistakes you have made in the past- take control of your future now, for your sake and for your children. You can be financially free as a single mom.

"There are only two lasting bequests we can give our children... one is roots, the other wings."

"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

"All through nature, you will find the same law. First the need, then the means."

- Robert Collier

I’ve read more than one guru suggest index funds for a portfolio.

Index funds are mutual funds built to mimic the movement of indices such as the S&P 500. Because the funds don’t require a super star fund manager (basically a computer program can do the same job), the management fees are substantially lower. Also over the long run, the majority of managed mutual funds fail to beat these indices.

Sounds groovy right? Perfect for the lazy investor?

There are a few problems I see with having an index fund as my sole investment.

If I’m investing in…say…an index fund mirroring the S&P 500, that means that I’m completely in one investment category, stocks. I don’t have any bonds (a more secure part of a balanced portfolio). I get all the highs, yes, but I get all the lows too.

Indices also represent what everyone else thinks is hot right now. The S&P 500 is weighted based on market capitalization (the number of shares outstanding multiplied by the share price). So if people are crazy for tech stocks (sound familiar), the S&P 500 will have a greater percent in tech. What does that mean? I’m buying high, selling low. Not so groovy for this bargain hunter.

The biggest issue that I have with index funds is that I like to buy companies with both a chance for capital gains and income. That way if the market is down for years in a row (or decades in a row), I still get paid to wait. The index funds don’t have this as a requirement. Some of the companies could pay dividends. Some could not. The down years will hurt much more.

A Rad Hippy Blog

Well women are certainly no strangers to "faking it". We've faked our hair color, our cup size, hell we've even faked fur. I couldn't help but wonder: Has fear of being alone suddenly raised the bar on faking? Are we faking more than orgasms? Are we faking entire relationships?

Is it better to "fake it" than be alone?

Personally this has been a fear of mine. Maybe it was because I was raised an only child by a single mother, who knows. All I know is that I see that most women struggle with this fear, whether they are in a relationship or not. Nobody wants to be lonely, although I disagree that you are nobody 'til somebody loves you. Fear of being alone, or maybe the longing for security drives many women to make poor decisions when it comes to relationships and money.

I married young, maybe because I felt like I was in love, but probably more because I didn't want to be alone. It took me a couple years and a lot of courage to make the decision to be alone as a single mother. It has taken me some time to be okay with being alone. Some days it's more difficult than others, but over all, I know that I have to be okay with it, because we are all going to be alone at some point in our lives. Better to be alone and healthy than in an relationship that is unhealthy, ya heard?

I love the conclusion that my girl Carrie came to:

I decided instead of running away from the idea of a life alone, I'd better sit down and take that fear to lunch... So I sat there and had a glass of wine alone. No books, no man, no friends, no armor, no faking.

"Because you're not what I would have you be, I blind myself to who, in truth, you are."

- Madeline L'Engle

I thought I'd chime in on E's post on How To Spot A Dangerous Man.

Gals, there are a few bad apples in that big dating barrel out there. Baddies looking for a sweet, trusting sugar momma to finance their extravagant lifestyle. Part of being smart with our money also means protecting ourselves from these baddies.

Some of the simple steps include not letting blind or even new dates pick us up at our homes, paying with cash when we’re out with our new Romeos (no peaking at credit card numbers), keeping our often more stable financial situation to our own selves, and hiding our financial info (i.e. don’t leave bank statements on the kitchen table) when we finally take these studs home.

Remember…This isn’t about trust or lack of trust. This is about being smart.

My (now) hubby appreciated my reserve. He liked that I was careful with my information because he knew that I’d be careful with his. I have yet to find a financially savvy man who didn’t think the same way.

Some great resources on this subject include J.J. Luna’s How To Be Invisible, Edmund J. Pankau’s Hide You’re A$$ets And Disappear, and Jerome Schneider’s Hiding Your Money. I can’t vouch for the more extreme actions but the lower level techniques are a must.

“I wanna live my life for today” is another excuse I hear often. A valid point. What if I invest all my money for tomorrow and I die before I can enjoy it? (If you truly believe this, then it’d be irresponsible to have kids, wouldn’t it? Leaving them all Orphan Annies. There are only so many kindly bald millionaires to go around).

On the other hand, what if I invest nothing and spend my golden years working for teenagers at the golden arches? If I’m lucky, that is, and can physically work. Ugly when the best case scenario is trudging along in underpaid, under appreciated position (though I do appreciate my local frygirl. The kid does wonders with potatoes). The worst case scenario? Lets not go there on a Wednesday (though it is the week for scary thoughts).

It’s a balancing act, trying to weigh the needs of today against the needs of tomorrow. Lucky for us, women are especially skilled at balancing acts. I just watched a woman at the grocery store save an otherwise doomed pumpkin from a hyper toddler while carrying a gurgling enfant and talking on the phone. Splitting up the money pot should be a breeze by comparison.

That’s exactly what it is. Splitting up the money pot. This is not an all or nothing situation. Every bonus or raise I receive is split between the young lady (marvelous moi) and the old lady (marvelous moi in the distant future). The temptation when we first start to invest is to save everything. Resist. Today and tomorrow are equally important.

And you’ll never hear that from a financial advisor.

Little Orphan Annie

How To Spot A Dangerous Man is actually a book that I have already read, but I refer to from time to time, and felt it was good timing to share it during my "Women's Issues That Scare Me" series. I will be referring back to this book, site and articles from time to time, because it seems to me too often women find themselves (myself included) in trouble financially due to allowing a dangerous man into our lives.

It is important that women realize that men (or women) in our lives do not have to be physically harmful to us to be dangerous. The book descibes 8 types of dangerous men, gives defense strategies and red alert checklist for each, and includes stories of successes and failures. (Maybe I should do a couple a day? Er- that came out badly...)

I found this book incredibly compassionate while at the same time helping women take responsibility for being in the situation, or maybe even worse, returning to bad relationships over and over again, instead of learning to see the warning signs and be able to stand on our own two feet with healthy boundaries, and deal with the real issues.

"I am not afraid of storms, for I am learning how to sail my ship."

- Louisa May Alcott

Check out our beloved Kimber over at Investor Geeks talking about why she is a "loser"... (Just kidding girl you know I think you're the best!)

One of the biggest excuses I hear about not investing is “I don’t have time.” Everyone is busy, I know, but everyone also has pockets of time they’re not using.

I can fully credit my current writing career to my hubby being late. You see, I always wanted to write a romance novel but I never thought I had the time. I was working full time, investing (which does take a bit of time, not much but still time), had a few gigs on the side (contributing heavily to More Money Mondays content) and of course hanging out with loved ones (an investment in itself). Where was I going to find the time to write?

On the other hand, I wasted a lot of time…mostly waiting. The hubby is always late. He was late for our first date, he was late for our wedding, he will hopefully be late for his own funeral. However, since we share a vehicle (saving money and saving our marriage – we wouldn’t have spent that much time together the first few years otherwise), his lateness bit into my free time.

Not good. I would fume myself into a tizzy. Instead of being a vision of rainbows and light, I was a grumbling harpy when I finally saw his completely unaware and smiling face (how an otherwise intelligent man can ask me with all innocence “have you been waiting long?” after being two hours late, I don’t quite know).

One day, it clicked. Why not use that time to write? I would write long hand (yeah, dinosaur style) on a pad of paper I constantly carried with me. Every time the hubby was late, I’d jot down a few more words. By the end of the year, I had 150,000 words. Yes, all written while waiting.

I was happier, sometimes being so wrapped up in my novel that I didn’t notice the car. The hubby was happier because I greeted him with a smile.

So now that I can write full time, I carry around short business and investing books to read whenever I have to wait. Maybe an investing magazine or some article I found on the internet or some financial statements (perfect for sneak reading in check out lines).

As part of my "Women's Issues That Scare Me" series, I had to include some eye opening statistics and what we can do about them. I highly recommend the book Rich Woman and website Rich Woman.com for any woman who wants to increase her financial education and take control of her financial future! The following is a little more from the author and creator of Rich Woman, Kim Kiyosaki:.

The statistics about women and money are very startling. The following are U.S. statistics, yet I find that for other countries around the world these statistics are either very similar or trending in the same direction.

In the U.S.:
-47% of women over the age of 50 are single. This means they are financially responsible for themselves.

-Women's retirement income is less that that of men because a woman is away from the work force an average of 14.7 years as compared to 1.6 years for men. (Women are typically the primary care taker of the home.) This along with lower salaries, adds up to retirement benefits that are only about 1/4 of those of men. (National Center for Women and Retirement Research - NCWRR)

-50% of marriages end in divorce. And who typcially ends up with the children? The woman. So now she is solely financially responsible for herself and her children. (What is the number one thing couples fight about? Money.)

-In the first year after a divorce a woman's standard of living drops an average of 73%.

-As of 2000, women are expected to live an average of 7-10 years longer than men which means they must provide for those extra years. However married baby boomer women can expect to outlive their husbands by 15-20 years on average.

-The average female born between 1948 and 1964 may likely remain in the work force until at least 74 years of age due to inadequate financial savings and pension coverage. (NCWRR)

Of the elderly living in poverty:
-3 out of 4 are women
-80% of the women were not poor when their husbands were alive.
-Approximately 7 out of 10 women will at some point live in poverty.

What are these statistics telling us? They tell us that more and more women, especially as they become older, are not educated or prepared to take care of themselves financially. We've spent our entire lives taking care of our families but have no ability to care for ourselves in this vital way. We are weither depending on someone else to do it for us- a husband or partner, a boss, a family member, or the government. or we just figure that it will all work out. The fairy tales we grew up with were just that.

Three final statistics to consider:
1) 90% of of all women will have sole responsibility for their finances within their lifetimes...yet 79% of all women have not planned for this.

2) 58% of female baby boomers have less than $10,000 in retirement.

3) Only 20% of baby boomer women will be financially secure in their retirement. That means 80% of us will not be.

What is Rich Woman?

The “How To’s” of investing are the same for men as they are for women. What is different is many of the issues that women face when it comes to money and investing.

Rich Woman is designed to be an informative and interactive community where women come together to learn from one another, to understand where you are today financially and where you want to be… and most importantly, how to get there.

At Rich Woman you will learn how to analyze real estate deals, business deals and paper assets. You will understand how to tell good advisors from bad advisors (regardless if they’re male of female.) Plus, you'll be able to take part in what the women in this community want to learn, teach, and discuss to get us all to our goals.

What Rich Woman Is Not…

Rich Woman is not a community for women who are ambivalent about their financial lives. It is not a community for women who want to blame others for their situation. This is definitely not a platform for women who just want to complain about men. The men in your life should be allies, not enemies, in your quest. This is not a place for victims; for women who feel that life is picking on them. You cannot take control, take action and create results with a victim mentality.

Rich Woman is for the woman who has a desire to learn, as well as teach what she’s learned to other women. It is for the woman who will take action and make great things happen for herself. It is for the woman who is insistent on improving her financial world and who wants to be part of a movement that supports women all over the world in accomplishing their financial dreams.

If that is what you want then I welcome you with all my heart to Rich Woman.

Because, as I’ve said many times,

“I believe the world would be a better place if there were more Rich Women.”

Kim Kiyosaki

"You may have a fresh start any moment you choose, for this thing that we call “failure” is not the falling down, but the staying down."

- Mary Pickford

Okay, okay I’ll admit it. I love my pretty things. Don’t like to dust them (thank goodness the hubby likes to dust though you’ll never get Mr. Manly Man to admit it in public) but I do like my pretty things.

Before I got smart (a recent development), I’d use my allowance (yes, I give myself a cash allowance to spend as I wish) on the pretty things (in my case, Wade figurines, those knick knacks we find free in Red Rose Tea boxes). I was a porcelain crackhead, looking behind cushions and in the hubby’s dirty dress pants (anything in the wash is fair game, my compensation for doing the laundry) for just a little bit more to soothe my craving.

I’d go to yard sales and buy boxes (less expensive than buying one at a time), searching through to pick out the ones I didn’t have. As my collection grew, so did my duplicates. I squirreled them around the house so the hubby wouldn’t fully realize the extent of my hobby (he freaked out one day when he came face to face with an army of them tucked away in the basement).

Then I discovered eBay. All of a sudden, my hobby went from sucking money faster than a Dyson (aren’t they great vacuum cleaners?) to being a money making machine. I figured out that I could buy at yard sales, sell at eBay and more than cover my sickness. My hubby now is proud of my figurine collection and encourages me to buy more.

And that is the thing about collectables. I hear collectors often say that their collection is an investment. Well, why wait until you’re dead to collect on that investment? Figure out a way to make that collection pay for itself and if you’re an especially skilled collector, make you money.

Yes, I freely admit I love watching the Girls Next Door. I also frequent the Girls Next Door Discussion Forums. The other day, there was a thread I found intriguing:

If Holly has a degree in Real Estate and Bridget has a Masters degree.....and Kendra is a qualified Masseuse

Then why do they feel they must have sex for a living? This is not really a put down on the girls, but isn't it a waste of an education? These women are clearly smart and therefore don't need to sell their bodies in such away.

Would they want their daughters in essence to have sex for a living?

What followed was a whole conversation (they are rough over there) about women, education and being in relationships for financial gain. Too many women, educated or not, fall into the trap of marrying or being in a relationship for money or at least some sense of financial security. I had to say my two cents (of course) and thought it was appropriate for my Women's Issues That Scare Me series:

You can be book smart or street smart or a combination of both, but if you lack self-esteem and self respect you have nothing to stand on.

Allow me a soap box if you will?

I think it's interesting that people accuse the girls of trading sex for lifestyle. What do you think many women who get married and don't work are essentially doing? Conversely, merely having an education doesn't guarantee you won't find yourself there.

I was that woman. I left that dependent lifestyle and man. Now I am financially free (don't have to work) because I learned how to make and invest my own money. (And continue to learn all the time!)

Personally, I think women have all different ways to make money, I don't really care much how they do it, but I am a firm believer that we should all make our own money and become financially independent whether single, in a relationship or married- whatever. If you've got to catch a wave and ride it- do it- but be smart and set yourself up financially. That's why I have No Limits Ladies.com - I try to help other women take control of their finances in a fun (and perhaps wild) way!

"The only reason I would take up jogging is so that I could hear heavy breathing again."

- Erma Bombeck

(This one is for me, since I'm training for the PF Chang half marathon!)

Kimber:
Holidays are all about tradition. I burn…I mean…make gingerbread cookies because my mom always made gingerbread cookies. The grinning, tatter winged angel topping my tree is almost identical to the angel topping my mom’s tree.

There may be small tweaks (no trudging out to the woods to chop down my own tree, my tree “lives” year round in a box in my basement) but the core traditions are there.

However, there is a tradition that I steadfastly refuse to carry forward. That is how I finance the holidays.

My mom, a hard working single mom of six hungry, toy crazy kids, considered Christmas the one time of year she didn’t have to look at the price tags on gifts. She would spend, spend, spend freely using the financial crutch of credit cards.

Sure, when I was too young to recognize the trend, Christmas was a carefree time but as I got older, I could see the black cloud on the horizon. I knew that the joy of Christmas would be followed by my poor Mom working 24-7, grumpy, growling and stressed out. This unhappy period would last through January, February, even into March.

Today, I make it a point not to use credit cards in December. I buy classic presents year round, stocking up on holiday paper and cards during the January clearance sales. I have the time to pick out just the right gift, the perfect present for my loved ones, and get the best price too (I buy comfy sweaters in April, classic toys during the summer sales, buy books on sale and have time to ship them to the author to autograph). By December 1st, I am done the bulk of my holiday shopping (though looking like I might have a last minute run to the store this year to pick up a Tickle-Me-Elmo) and have the time to enjoy the festivities.

The holiday future? Looking very relaxed. Yeah, I’ll still be at the mall (how can I stay away?) but I’ll be the smiling lady watching kids sit on Santa’s knee, listening to the piped in music.

Erin:
Being Broke Ain’t Cute. Especially around the holidays. (Just ask my little dogs in need of a pedicure, my white trash roots, and my pasty white body that needs a tan -yes, I fake bake).

In holidays past, I was an over-spender. I am the girl who would buy amazing thoughtful presents, wrapped all cute, that would sit for a month until I could afford to send them. If I had it, I was spending it. No saving for me. (What do you mean I’m out of money, I still have checks?! )

I am a single mom now. If I do not want to 'literally be the old woman who lived in her shoes', but instead live a fabulous life (cabana boys and all), I need to learn how to stretch my money by creating money trees that would keep on giving. We’re talking twelve days of Christmas giving here ladies.

My challenge is now this: How can I afford what I want to buy? If I want to spend $50 on books, how can I create that $50, so it doesn’t leave me broke (which ain’t cute). I recently did this myself. I loaned out some money short term with interest being paid, that would cover the cost of my books. I plant a 'money tree' that will buy several gifts, instead of blowing the money on one gift- because then it’s gone.

Being broke ain’t cute. Ladies, you do not want to end up a fabulous gift giving Fendi bag lady. We cannot change our holidays past, but we can use our present present buying to make a fabulous debt free future- pedicures, highlights, accessories and all!

Okay, that’s working the perks, not working the perps (unless the perps are truly innocent, oh, and as hot as the boys from Prison Break…forget breaking out, how can I break IN?).

With any job comes perks. And I mean ANY job. In my job as a maid at the seedy highway motel, I didn’t have health insurance, I didn’t have a stock purchase plan, I didn’t even have business cards but I could buy soap at rock bottom prices. Sure, they were those small bars but they still did the job (cleanliness is the closest I get to Godliness).

Some of the best employee perks out there are retirement savings or stock purchase matching. I worked at one Fortune 500 company where any stock purchases up to 4% of the salary were matched 100%. Yeah, the employer gave me a $1 for every $1 I invested. I might never win the Nobel Prize for math but that sounded like a pretty good deal to me.

Amazingly, not everyone took advantage of it. I heard a lot of excuses (usually from the same people bugging their bosses for raises) but nothing that a smart and determined gal couldn’t work around. Me, I’d borrow the 4%, give my lender 2% and still be 2% ahead (there was no vesting or holding period – I could cash it out the same day if I wanted to).

Perks are also a good thing to look for in part-time jobs. One of my buddies is an aspiring screenwriter. She works 3 hours a week at an indie movie theater. She gets the extra cash but even better, she gets to see movies for free whenever she wants! And with the movie tix prices today, that adds up.

"Patience and perseverance have a magical effect before which difficulties disappear and obstacles vanish."

- John Quincy Adams

Hot stock tips are everywhere. In elevators, taxis, even snoozers of a cocktail party. (Unlike hot men…much harder to find). Nothing tempts me to behave irrationally like hot stock tips (and again, hot men), the idea that I have some knowledge that not everyone else has (closely related to insider trading, the activity that threw domestic diva Martha Stewart in the slammer).

The whole nature of the hot stock tip is that it’s “secret” (a “I’m dating both McSteamy and the Vet and oh, I bopped George during a slow day” type of secret). That means that I’m less likely to want to confirm that the tip is real. ‘Cause if I ask everyone I know about the tip, then well they would know about the tip, wouldn’t they? No longer a secret. Not so hot.

So I have a hot piece of information that I can’t confirm (giving away my sources…I’m starting to sound like newsman everywhere Anderson Cooper, that man must have killer frequent flyer miles) and that I need to act immediately on if I want to take advantage of it. A recipe for disastrous investing moves.

What do I do?

I ignore the good news. I might look at the stock. If it’s a great deal, a solid company, without the hot tip, then I might buy (could be fate that I hear about it, who knows). I don’t count on the hot tip to happen. If it does, it’s a bonus.

With bad news, I factor it into the stock evaluation. That doesn’t prevent me from buying it. The stock could be a good deal even with the bad news. But if it does happen, I won’t lose money in the long run (short run, sure, but eventually the stock should pop back to a fair price).

We've been talking about financial planners, Why We Want You To Be Rich, and how being broke ain't cute these past weeks. I recently came acrosss a portion of Kim Snider's blog that really resounded with me:

Wealth requires sound character

In the end, the only way I got out of debt, and cleaned up my credit report and began to put away money to invest, was I had to learn discipline. You can know more about investing than anyone else in the whole wide world but without discipline it is useless, because it takes discipline to resolve your former sins - not a financial advisor - and it takes discipline to save, and it takes savings to seed real wealth.

It is not an exaggeration to say that to build financial security requires you to look deep inside yourself and find the discipline of character to exercise sound judgment, moderation, and restraint. Without those character traits, you will never be financially secure.

We all have defining moments. It is in these moments that we find our true characters. We become heroes or cowards; truth tellers or liars; we go forward or backward. -RK

While E was hanging out with the Donald this past weekend, I was hanging out with romance writing legend Mary Jo Putney. So why would I blog about that? The arts isn’t about money, right? Writing isn’t a business, right? You’d think that during a general writing Q&A with a rock star of the romance world, the green stuff wouldn’t come up, right? Nope, it did, more than once.

You see, MJP (her hip hop name) explained the first book phenom. The first book by many authors is seen as the “best” and truthfully, often, it is. Because then, the writing was “pure”, there were no expectations, the sole purpose was to tell a good story (‘cause getting published is no walk in the park by any means, unless that walk in the park is on Elm Street accompanied by Freddy Krueger and maybe Friday the 13th’s Jason).

Once the author gets published, gets that first check in her hands, the goal subconsciously changes. The author gets the selling bug and starts to put more emphasis on writing saleable novels (not to mention agents wanting to get paid). The first thought is still the big idea but the second is “Will this sell?”

That is why I like the idea of investing bonus money (which believe me a writing check is…it’s a long, long, long process). If the motive of an activity (writing, blogging, teaching, helping buddies lug books to signings) is not money, I keep money out of it. I keep it pure.

I’m not foolish, I’ll take the money but if I invest it immediately, it won’t change my life today (maybe decades from now, but not today). Maintaining that monster mortgage with royalty checks won’t be my first concern.

As part of Being Broke Ain't Cute week, I'm reading the The Budget Fashionista (book) by Kathryn Finney.

My favorite part so far is in the beginning where Kathryn describes Stylish Spendthrifts vs. Fabulously Frugal: the difference between a Fashionista and a Budget Fashionista.

Fashionista vs. Budget Fashionista
Fashion Determines Personal Style vs. Personal Style Determines Fashion
Paid subscription to Vogue vs. Reads Style.com (Vogue's site) free
Closet full of pointy shoes, massive podiatrist bills vs. Stock in Dr. Scholl's
Can refer you to her accountant vs. Can tell you amount of last purchase
Shops at Neiman Marcus vs. Shops Last Call Neiman Marcus outlet store
Uses her kids as an accessory vs. Accessorizes her kids
Has massive credit card debt vs. Knows her FICO score and the FICO score of her five closest friends

I witnessed a young couple make a classic investing mistake on one of those popular home buying shows (gotta stay away from those, every time I watch one, I want to paint the house). They got emotionally attached to the investment. They fell in love with the house.

They started out the show looking like wise little investors (impressing this gal). They had a goal of buying two homes, one for the business and one for living. They had a must have list that they had put a lot of time into drafting. They had a concrete budget.

Then they fell in love with a house. This house was beautiful, sure, but it also satisfied almost none of the must have’s on their list AND it was well over their budget. So over their budget that they couldn’t afford the two separate homes.

A rational investor would have walked away. They weren’t rational, they were operating on pure emotion. They bought the house and the impact rippled through the rest of their lives. I wouldn’t be surprised if there were regrets, big regrets, marriage destroying regrets (the extreme home reno required alone would strain a marriage).

I wish that I could say that stocks are different. I wish I could say that I don’t get emotionally attached to paper investments.

I can’t.

Sure, I follow the young couple’s process. I have target buy and sell prices. But left on my own, I’d likely not wait long enough to buy (the stock price is going up? I’d better buy it before its too late) and wait far too long to sell (just ten more cents and then I’ll sell, I promise).

That is one of the reasons that today, at my investing knowledge level, I still have a financial advisor. He keeps me honest. I give him my strategy and then HE makes the buy or sell. The two percent I pay is worth it.

When I was in New York last week, I went shopping in China Town and Little Italy. I found after a couple drinks, I was more and more inspired to shop. I allowed myself a splurge (or two or three) on hand bags.

I started reading How To Be A Budget Fashionista this weekend, in support of our friend the Budget Fashionista and her Being Broke Ain't Cute week. I got to thinking.

Some ladies have to pinch pennies due to lack of funds. Some ladies pinch pennies to put into deals and investments that will in turn fund lifestyle. Which are you? I have been the former, I am now the latter.

Say I have $5000 a month to live on and play with. I have a few options.
1) Spend the whole $5000 each month and live paycheck to paycheck.
2) Spend more than the $5000 and always play catch up instead of getting ahead.
3) Spend less than the $5000 and put the $ in savings.
4) Spend less than the $5000 and put the money into higher return investments increasing my monthly income, while still living on less and rolling the increase back into investments.

I'll go with door number four. Why? Because it will get me where I want to go the most efficiently and with the best possible outcome: a lifestyle I love.

I absolutely adore my wanna-be Coach and Dolce and Gabana bags. The less I spend on fun stuff today, the more money I have to put into something that will make me money to then afford the life I want to live and the bags I want to carry in it!

Check out our girl Kimber over at Investor Geeks today!

With the autumn comes the beautiful fall colors (up north that is, those in Hawaii…well, you have other opportunities and little sympathy from me). Beautiful that is, when the color stays on the trees. Not so beautiful when its gathered in a heap on my driveway (or banked against my front door waiting to cover my carpet as soon as the door opens).

But that heap of leaves represents some quick cash for the savvy saleswoman. Quick cash for investing (moving us into the whole planting seeds analogy).

The concept is simple. Walk door to door, setting up appointments for raking leaves. Then find a few bored teenagers looking for their own quick cash (for the holidays perhaps) and put them to work. Hey, if I was industrious (which I’m not because I’m very, very lazy), I could even rake a few yards myself.

The tools needed are rakes, bags and, if I wished to save that French manicure (is it French manicure or freedom manicure? Are the French back to being our buddies again?), gardening gloves.

I like raking leaves over other yard works gigs (lawn mowing, snow shovelling) due to its one time only opportunity. Unless I wish otherwise, I don’t have to go back to that same homeowner for more work. However, if I liked dealing with the homeowner, it opens up other money making deals.

What to do with the leaves?

I usually leave them for collection (again I’m lazy) but some efficient rakers convert the leaf debris into rich compost, selling it back to the garden crazy homeowners. From the earth to the earth type of cycle.

Fall Color

"The secret of health for both mind and body is not to mourn for the past, worry about the future, or anticipate troubles... but to live in the present moment wisely and earnestly."

- Buddha

Welcome to our new Budget Fashionista readers! You can find out more about Kimber and Erin (prlinkbiz) and No Limits Ladies here!

Our fabulous friend the Budget Fashionista has created a series called Being Broke Ain't Cute with several PF Bloggers, including the No Limits Ladies! In support of our girl Kathryn, we are having Being Broke Ain't Cute week here at No Limits Ladies. We are all about women becoming financially free instead of a Fendi bag ladies.

Check out our post about 'Holidays Past, Future and Presents' at the Budget Fashionista today and then check back in to kick start your week off with No Limits Ladies with More Money Mondays!

Check out the Budget Fashionista in action!

Often financial gurus will talk about setting our financial goals, making our dreams come true, making the process all about the individual. Me, me, me.

Too selfish for this gal.

Sure, I want to ensure that I'm okay (can't help others if I, myself, am struggling) but I want my loved ones to be okay too (oh, and I want to give back).

How do I plan to do that? A number of ways...

One of the givens in life is that you and I have a pretty good chance of being laid off at least once in our lives (one of my extremely competent girlfriends just recently got laid off twice in one year). I've been through it. Not a happy experience (understatement of the year). An even unhappier experience if financial instable. My goal is that when my hubby's time comes, he'll only have to worry about himself, not the finances. See it as an opportunity, rather than a crisis.

Then I applied the same thinking to other loved ones. Every friend and family member knows that if disaster strikes, we have spare rooms and spare food to share until they end up on their feet again. Sure, they're expected to stay for a short time and expected to hustle for a replacement job (i.e. it ain't no vacation home) but its there.

A happier goal is making dreams come true. My dear, hard working, minimum wage earning Mom celebrates her 60th birthday this year. Her dream has always been to go to Australia and last month, we made it happen. She cried when she found out (nothing will make me more emotional than seeing my mom cry) and hasn't been quite the same since she returned. She's more confident, happier, a changed woman.

Yeah, financial goal setting doesn't have to be a selfish gig.

Spoiler alert: If you haven’t watched this week’s Grey’s Anatomy, you might not want to read this post. If you have watched…well, its up to you. You might still not want to read this post.

Yeah, I know I don’t usually post on the weekends and yeah, I know that my posts are more “serious” but one storyline in my guilty pleasure Grey’s rubbed me the wrong way (unlike McSteamy who can rub me the right way anytime he wished).

That was when Denny’s Dad confronts Izzie about her marital motives.

Lets look at this scenario:

The Dad has a check for over eight million, yep, eight big, big, big, huge ones. Quite a chunk of change (think of the shoes that could buy). He is supposed to hand it over to the new, sight unseen wife whom he suspects (as anyone would) is a gold digger.

Does he do any research on the woman? Does he run a simple credit check? Does he even Google her name (which would likely give him all the info he needed)? Does he interview the witnesses to the wedding (would be on the marriage certificate)?

Nope, the man does nothing of the sort.

He simply confronts the blonde.

All she has to do is tell him her debts are paid off (truth? Who knows) and that she didn’t need Denny’s money (outright lie…who wouldn’t take eight million plus if it was there to be snatched up?). Oh, and cry, that always does the trick.

And poof, all his misgivings evaporate.

Now, you and I live in the real world (i.e. we don’t have two gorgeous medical professionals pledging their undying devotion). Whenever we part with a significant piece of our wealth (significant being relative…for me, it’s over $100), we do our research. We find out as much info as we can about what we’re getting into.

And the crying bit? Don’t even try it!

I'm back from my wild few days in New York.. Click here to see the pictures and read on for the story:

This past Wednesday afternoon, I called up a friend of mine and asked her if she wanted to go to the Trump/Kiyosaki Why We Want You To Be Rich book launch in New York City that next day. She said yes, and the next few days were a whirlwind!

We flew out of Phoenix that night. Our flight was delayed until 1:30 AM. We slept for a few uncomfortable hours on the plan, arrived at JFK, took a cab into the city, checked into our Manhattan hotels and crashed for a few more hours!

I went early to the book launch party, all dressed up (along with jewelry from our good friend Fast Track girl's Filthy Rich store!), to help with the book set up. As I was walking to Trump Tower, I stopped to grab a mocha...Starbucks always makes me feel at home! I then proceeded to spill it on my white tank top. Good thing I just happened to be walking by a Gap. I ran in, grabbed a new white tank top (on sale) and made my way to Trump Tower.

I walked in and what to my eyes should appear? A Starbucks on the second story overlooking the entrance! (Of course) I got another mocha and sat people watching for a bit.

The press and onlookers started filing in around 5:30 PM, and because we were there to help with setting up etc. we had access to the press area. We were seated right in the front row! It was surreal. We later found out that press conference went to air on E!, Access Hollywood and a few other programs that night.

After the press conference, we went downstairs for the book launch party. Robert and Donald did more interviews, friends, family and photographers gathered around. Donald and Melania left early, but Robert, Kim and the Rich Dad crew all stayed for while, really hanging out and talking with people.

After the party we hopped into taxis and headed off to dinner. Where I celebrated with friends, made some new business contacts, and dropped crab down my shirt as well as spilled more coffee on myself!

The next day, I met up with my friends and we took the subway over to Canal street for some shopping in China Town and Little Italy. We stopped for lunch at a little Italian food place, kept shopping, and then stopped again for some drinks. I got a few bags wanna be Dolce and Gabana and wanna be Coach), a wallet and a couple of watches for my kids. Then we hopped in a taxi for a ride to the ariport that was the equivalent of Mr. Toad's wild ride! At the airport we had some NY pizza and then flew home to Phoenix!

I must say it was a unique life experience being part of the book launch! Not only was it exciting to be there (I love New York, the energy is incredible), but it was a context expanding trip for me. One that gave me a little peak at the next levels, and allowed me to see that I can do anything I want I life. I made some new goals whle I was there, reaffirmed some old ones, and made a business deal as well! It was an experience I'll never forget!

Having worked in new product development, I have seen the benefits of customer complaints first hand. Complaints let companies know when there’s an issue. Complaints drive solutions and innovation. Successful innovations make companies money.

So if I pick up a product expecting something and get something else (usually not-so-good), I call the 1-800 number on the package and tell the company my thoughts. The primary objective is to make the product (and company) better. A side benefit is free stuff.

A couple months ago, I went to a favorite family restaurant and had a very unhappy experience (the restaurant ran out of everything and then tried to upsell me on higher priced alternatives). I asked to talk to the manager in charge only to be told that he was “unavailable”. Yeah, right.

So I e-mailed their customer service department, outlining all the details of my complaint (including day, time, etc). I was unemotional, I was professional and I left my contact information.

Three days later, I received an apology via phone followed by a written apology with a certificate for two free dinners. I did go back (as the offer intended) and had a very satisfactory dinner. I have eaten there a few times since and am slowly falling back into the fan category.

Note: Companies track customer complaint information so do NOT use this as a “get product free scheme”. More than one complaint and your name will be flagged.

So if the company ensures satisfaction guaranteed (and even if they don’t) and you are not satisfied, let them know. You might receive a thank you for your trouble.

No use getting an advisor unless it’s a good advisor but what good advisor would take a gal with only $25 a month to invest?

One with vision. One with foresight. One that can see the potential in an underperforming asset (me). Hhhmmm…sounds exactly what I want in an advisor, doesn’t it?

But I had to help my advisor see my potential. I couldn’t merely plop myself down on his leather guest chair and say I have $25 a month but I’m going to be wealthy someday, take me as a client please. That wasn’t going to work.

I drafted up my plan. I was investing $25 a month until I paid off my small student loan, then I was adding the loan payment onto my investment. I was going to save 50% of every raise, every bonus. I was going to buy a house by the age of 25. I was going to start a business part-time while still working full-time. I put numbers behind everything, into a Excel spreadsheet with calcs up to the age of 65.

I worked backwards and figured out how much I needed as an average return (8% which is still my minimum return). I also had an annual investment number so he could see what his commissions might be.

It was not very accurate (full of holes and errors actually) and it has changed with time but it didn’t matter. Years later, my advisor told me that what he had seen in those numbers was someone who had seriously thought about her financial future. He figured that someone that determined was bound to be successful and didn’t he want to be associated with successful people? Of course he did.

His associates laughed at him when my financial advisor admitted to taking on a fresh grad with $25 a month to invest. Needless to say, they don’t laugh any longer.

I'm 100 pages in to Why We Want You To Be Rich- will finish it tonight on the plane...en route to the book launch party at Trump Tower tomorrow night! More fun stuff to come!

I think we’ve established by now that I’m one of the laziest people you’ll ever have the good (or bad, ‘pending your outlook) fortune to meet. The less work I can do to accomplish what I wish, the better.

So when I started the great financial advisor hunt (having figured out that I knew nothing about investing), I wanted to find an advisor I could stick with for a long time. That required a bit of upfront work.

I interviewed over 50 financial advisors. Some I found through referrals (friends and family), some through promotions (the most common being those free investment seminars), and some through a flip through the phone book. The list is in order of quality leads (though getting a financial advisor reco from my always broke friend might not have been the best idea).

I was looking for the usual requirements…someone with a financial planning designation, a track record of investing, etc. A good list can be found here (PsyopRanger’s post) and here.

I also added some of my Kimber special requirements. I wanted an advisor about 10 years ahead (or less) of where I was. I know that I do more research on topics that affect me personally. I figured that an advisor who recently bought a house for himself would know all the in’s and out’s of financing that house.

Because I was already one step into the murky world of entrepreneurship, I wanted an advisor with the same leaning (planning to start up his own practice). My friend in real estate investing found a financial advisor who invests personally in real estate also.

I wanted someone that was investing out of love rather than the desire for wealth. I interviewed advisors that droned on in monotone (think the teacher in Ferris Bueller’s Day Off…Anyone? Anyone?). If he found the subject boring, would he do any extra work on it? I sure wouldn’t.

Then I witnessed the rare few whose eyes lit up like a kid at Christmas when talking about the Fed’s decision to raise interest rates. Those are the advisors I like.

I also wanted an advisor that planned to stick with me for a long time. My current advisor interviewed me as vigorously as I interviewed him. I had to sell him on taking me and my $25 a month contribution. How I did that is tomorrow’s post.

Concentrate all your thoughts upon the work at hand. The suns rays do not burn until brought to a focus. -Alexander Graham Bell

Donald Trump and Robert Kiyosaki launch their new book Why We Want You to be Rich this week.

In Chapter Six of Why We Want You To Be Rich, Robert and Donald talk about investing to win:

One day, during a brief meeting in his office, Donald simply said, "I invest to win. Don't you?" With that statement the defining difference appeared. He and I invest to win, while others invest not to lose.

We have talked here about the advice, "Save money, get out of debt, invest for the long term (generally mutual funds) and diversify." Late that afternoon, Donald and I discussed how we did not focus on saving money. In fact, we are both millions of dollars in debt - but good debt. We do not diversify, at least not in the context that most people use the word diversify. And while we are both long term investors, we do not invest in mutual funds, at least as a primary vehicle. Why? Because we invest to win....

Most other financial experts are telling people to play it safe, to live below their means. They are telling people that investing is risky and that they need to save and avoid losing. The experts aren't focused on winning. They're focused on not losing.

-Why We Want You To Be Rich

There are three kinds of investors in the world. They are:

1. People who do not invest at all.
2. People who invest not to lose.
3. People who invest to win.

What kind of investor are you? Read more here about Learning to Invest Like a Pro.

I have had many the discussion over the years about whether or not to use a financial advisor (yes, exciting on the edge of my seat sort of discussions, not exactly in the “Does Paris Hilton Normally Wear Underwear?” domain).

I use a financial advisor for the bulk of my investments (not for my emergency cash which is in a money market fund and not for my fun money filled with the purely speculative investments that would keep my advisor up at nights).

The reasons why have changed over the years.

At first, it was because I honestly didn’t know what I was doing. I knew about guaranteed investments but nothing about the markets. Sure, I also took courses and attended seminars and read books and blogs (oops, no, my intro investing pre-dated blogs, oldie moldie that I am) but having a good advisor to hold my hand and tell me what was REALLY important put me on the fast track.

Here was a guy (yes, a guy, the few gals I interviewed then didn’t offer what I was looking for) that had taken years and years and years of courses and then had practical experience on top of that. And he was willing to share all this info with little ol’ me, someone paying him $9 a year (3% of the $25 a month I was investing with him). Heck, that couldn’t even buy a book on the subject!

On top of that, he was going to wade through the investment choices and then do all the paperwork for me. All for $9!! Frugal woman that I was (and still am), I couldn’t resist that bargain.

Of course, learning from the wrong advisor is no bargain. Which is why I looked long and hard for just the right advisor (and why I am still with him today). I’ll talk about my criteria tomorrow.

And an advisor is just that, an advisor. I am still master and commander of my financial ship (though not wearing that dreadful outfit cutie Russell Crowe wore in the movie of the same name – what was he thinking? He looked like a Tootsie Roll). I make the financial decisions, and my advisor does just what his title implies, advises.

"Give a man a fish, and you feed him for a day. Teach a man to fish, and you feed him for a lifetime." (or her)

My article Why the Poor Will Always Be With Us over at Investor Geeks created some good conversation about why more money does not help those without financial education. Check out my response in Why the Poor Will Always Be With Us Part 2!

I ran across this post and article about Mom Entrepreneurs (Great idea, get a patent) over at Boston Gal's Open Wallet and thought it was perfect to share on More Money Mondays!

Great idea? Get a patent!

USAToday has a great article about a couple of Massachusetts entrepreneurs: Moms crafted a baby-booming business

Seven years ago, Julie Dix and Danielle Ayotte were stay-at-home moms, shuttling kids to soccer practice and setting up play dates. Now, the two run a multimillion-dollar company called Taggies that is rapidly spreading into a global enterprise.

And it all got started with a child's blanket.

They had a great idea, but one that is easily copied. Spending the time and money to get the patent for their idea has been key to their success. It has lead to lucrative licensing deals.

The USA Today article has some insight for start up businesses such as how to find an initial idea, how to protect it, learning to sell, and getting good financial advisors on board.

One of my buddies is a Halloween freak. She loves the holiday, her fave part being the carving of the pumpkin (in her case, pumpkins). Her Jack O’Lanterns are works of art. Name a famous person. She has likely carved a pumpkin with that face.

I sit at the opposite end of the spectrum about the carving of the pumpkin. I don’t like doing it, especially reaching in my hand to scrape out the inside of the pumpkin with all the orange pumpkin guts and goo and slimy seeds (ranks way up there with setting up the artificial Christmas tree, unfolding all the branches). Somehow, my hand always turns out permanently orange and smelling like pumpkin soup for a month afterwards. No thanks. Not for me.

So its only natural that I buy a Jack O’Lantern from my buddy to display on my front step (the Jack O’Lantern then traditionally gets abducted by the teenagers down the street and eventually dropped off a fifth story balcony to see how it smashes).

And when my Jack O’Lantern gets admired, I fess up and say who is truly the master behind the work which leads to more carving-adverse folks knocking on my friend’s door and…you get the picture. My buddy’s skills are suddenly in demand. She’s in the pumpkin business.

There are some drawbacks to this plan. For one, its very seasonal. Halloween only comes once a year (thank goodness for my candy budget). For another, Jack O’Lanterns last only about a week (less if you have teenagers in the neighborhood).

However, she has extended the season with pumpkin carving classes, selling carving templates, other veggie and fruit carving (for centerpieces), outsourcing carving to teenagers (likely the same ones with the pumpkin smashing fixation), etc.

I made a little lump of cash this summer. My first thought? I should buy a vehicle to tie this money up, in order to turn around and sell for a profit to keep my money growing. But I didn't. I think life knows when money is sitting there idle, because that money flew away on a vacation, brakes, AC, and moving. Gone.

Last week, I got another lump sum. I put a large portion of it into savings and immediately began thinking of how I could tie it up and grow it. It's hard to spend what you don't have access to (even though I confess I was once of the mindset, 'I can't be out of money, I still have checks left!").

A friend called with an opportunity to make some money on that money. So I took it.

It's not a lot of money he asked for, and it's not a lot of money it will be earning. However, it is more than the interest it would have earned sitting in savings. And it is tied up so I can't spend it. It's moving and growing. Just the way money likes it.

I found this great tidbit about tying up a vine after winter pruning that illustrates this principle:

Tying up the vine after winter pruning: This all depends on what kind of pruning method you use: Guyot, Cordon, Goblet etc. In Guyot (simple or double) you leave one branch (twig? Or "baguette" in French) (or two, if it is double) and cut of all other branches at winter pruning. That branch is of course growing upwards, as branches usually do. But to make it into a Guyot you have to bend this branch and tye it to a horizontal metal wire (fil de fer). This branch will then be the source for all the new branches this year (5-8 normally, one for each "eye", or bud, on the branch). That's what the man does (in the picture): Man tying down the two remaining branches after winter pruning for a Guyot Double training. (Courtesy of BKWine.com)

In business, life and with money, if you aren't growing, you're dying. Discipline yourself to put aside money and look for ways to tie it up and make it grow.

"All through nature, you will find the same law. First the need, then the means."

- Robert Collier

This week at NLL:

More Money Mondays- Kimber and I invite you to send in your money making ideas or links to posts on your own blogs about creative ways to make more money and we'll link to you!

RK Tuesday: Robert Kiyosaki and Donald Trump launch "Why We Want you to be Rich"
(Where to watch Trump and Kiyosaki this week)

Kimber is going to be talking about financial advisors this week, in addition to her Frugal Fridays!

I will be riding the TK Book wave with posts about the book, the promo, and other related articles and subjects, because we are all about financial education here at NLL!

Don't forget to check us out over at Investor Geeks as well. We've got a great conversation going about why the poor will always be with us that I will be continuing this week in addition to what Kimber has up her sleeve!

"When you get right down to the root of the meaning of the word 'succeed,' you find that it simply means to follow through."

You can see what the Naked Guy (Economist)and I have to say about "Why the Poor Will Always Be Poor" over at Investor Geeks today!

I have a girlfriend who insists on buying everything “fresh”. Fresh veggies, fresh bread, fresh meat. Nothing frozen for her. She insists that it just tastes better.

She lives in Chicago.

I worked in food and beverage and I know for a fact that although food manufacturers may have freezer trucks to cart the frozen goods around, none of them, I repeat, none of them have heated trucks. So that means in the middle of winter, you guessed it, everything is frozen. That “fresh” meat she buys? Defrosts in the back before being displayed to customers.

Being the lazy and frugal gal that I am, I use my own freezer section (the top thingie where I store the chunky monkey ice cream) to my advantage. I buy veggies during the fall, chop them up and freeze them. I do the same with meat (chopping them into stir fry strips).

I HATE chopping onions (they make me cry and cry, wearing sunglasses help but not completely) so I buy a big bag, chop them all at once, and then freeze them. Whenever I need some for stir fries and pastas and…(well, that’s all I basically cook – meals have to be ready in a half hour or less…if not, the hubby starts to get grumpy), I scoop out a bit.

I love my freezer section for lasagnas. Making lasagnas are time consuming so I make a few pans of them at a time. I leave the extra uncooked and freeze them in my trusty ceramic corningware.

Freezing takes some trial and error (I haven’t yet succeeded in getting potatoes right…they turn out worst than my first year marriage meals) but for the simple stuff (onions, green peppers, meat), it works.

October is National Breast Cancer Awareness Month. This being a ladies focused site, I thought I'd make a quick mention about it. We are supporting sites going pink this month, although not going pink ourselves. The point of this is to inspire conversation and action. (Boys beware: boobie talk ahead)

Breast cancer has touched my life in several ways through friends and family. My aunt had it and beat it, though losing her 'girls' in the process she has kept her life. My stepmother had it, also opting to lose the girls in favor of keeping her life. and she is doing and looking fabulous. One of my life-long friends lost her mother to breast cancer, it was something that she fought for years, actually ended her marriage, and then ultimately took her life.

My friend and past client Jan D'Atri's sister had Inflamatory Breast Cancer. IBC is a dangerous because it cannot be detected with a lump. They now spend time raising awareness about IBC.

Personally, I had my first mamogram and sonogram this year after discovering something unsettling. Was nothing to be alarmed at. I am taking more action though. Last year I walked the Susan G. Komen Race for the Cure in Phoenix with a sea of women in pink. It was pretty amazing. I will be doing that again this next Sunday.

All the money in the world means nothing without your health. At the same time, having financial matters settled may allow us to seek the best treatments and make sure our families are taken care of should any situations arise. For some fun food for thought, check out this Cancer Vixen cartoon. (Yes, cartoon... you'll see!)

Now when people hear what I look for in a stock, most will tell me that I’m being impossible, my wish list is too long, I won’t find anything, I’m looking for the stock equivalent of the perfect man (that mythical being that doesn’t even exist in romance novels).

Well, I know that I can’t handle more than about 10 stocks in my portfolio at a time. Any more than that and I can’t keep an eye on them (I like to know where my stocks are sleeping at night). Less than that and my risk goes up (I compensate with less risky stocks).

I’m looking for 10 good stocks (as opposed to one good man) and there are thousands and thousands of stocks on the market (even more men). I’m no flipper. I like to buy a stock and spend some time with it.

And buying stock is like dating…

When I was young and looking for a fun date, I’d go out with just about anyone (and back in the day, I did – I went out with morticians, carnies, and a yo-yo regional champion).

When I got older and wanted to “settle down” (unfortunately this happens both literally and figuratively, darn gravity), I started to grow more and more picky. I knew what I wanted and I was willing to wait til I got it.

While I waited, I had some guy friends that I would use as pseudo dates for things like weddings and work functions. There was no commitment, no risk.

And as I wait for my stocks to come along, I also park my money. My parking lot of choice is a no load (i.e. no additional fee) money market fund. A money market fund is where I place my emergency stash and also how I got started in paper investing.

The price I pay for a bad stock purchase is much like the price we women pay for a bad marriage. It’s difficult emotionally and I can risk losing even more than half my stuff (remember the exit plan). No, better to be picky and wait.

Networking

While away at the tradeshow we went out at night to some of the related networking events. One event was so packed there was no way we would get in, so we went to check out Paris Hilton's CD release party. Yes...she was there, we saw her. We met someone there who was an exhibitor from the tradeshow and spent the evening talking about his concept and ours. We exchanged business cards and vowed to keep in touch.

A few weeks later, last week, we got a call from him inviting us to the POST magazine launch party that night. Laurin couldn't make it, so I called Erin and she went. Briefly, his childhood friend is co-founder/publisher/editor of the magazine. It's been in distribution locally for a year and just went national. These were a couple of guys who sat around one night and said "Hey, lets create a magazine" and so they did. George Clooney is on this month's cover. My new friend also knows John Kelly from Entertainment Tonight, who has a regular editorial in the magazine, and was at the party, so I met him as well.

At another tradeshow after hours event we met a promoter who does fashion shows for celebrities who have their own clothing line. They just finished doing a fashion show at that event. While we were chatting with him he was interrupted by a client...Queen Latifa's partner who introduced him to the vice president of Death Row records, Snoop Dog's label. Before we left he said he would love to have us represent a celebrity's jewelry line and if he has such a deal fall in his lap he'll contact us. He may even be able include an appearance in our store from that celebrity. Who knows if anything will come of it but the point is to NETWORK. Get out and meet people, promote yourself and your business.

Also met the lovely Erin this summer. I emailed her, told her what I do, she was familiar with my store, and we got together to play Cashflow that night. It was the first year anniversary of the store and we celebrated it with Erin, a moderator for RW. That was VERY cool for us, since RK and Kim are the reason we are where we are right now! I invited Erin to POST for her to gain something from it for herself but then she promoted me all night! We weren't there 15 minutes and she asked me for another stack of business cards! That girl is a Connector...read about what that means on her blog. I've already met several people on the Rich Dad forum through her. But most importantly I've made a new friend.

I've attended two Rich Dad Insider's parties in the past and met other like minded people from the Insider's forum. We all keep in touch and one of them was in town last week and called us. He has real estate investments here.

I met a lady a few years back at a Cashflow Club. She was just starting a web design business from her home. I got a newsletter from her today and she's one of the coordinators for a huge Urban Living event in our city. I went to her website and WOW has she grown! I'm going to reconnect with her by showing up at the event this weekend.

Next my goal is to attend women's Chamber of Commerce meetings, luncheons and social events. Hopefully, I can find a few mentors at these events. Kim speaks about this on the Rich Woman blog. I believe if I hang out in "target rich" environments and am a "take action" kind of girl, that the teacher's will show up.

These are all "take action" ideas ladies. JUST DO SOMETHING.....ANYTHING! The reason I'm writing all these posts is for you to see that I was JUST LIKE YOU not that long ago. Look at how much my life is changing! It doesn't happen overnight, you just get yourself there little by little EVERY day. Do something today. Get to a Cashflow game, or read a relevant book (I'm partial to RD books). Keep going, it will gain momentum.

Yesterday, I picked up the summer issue of Creative Real Estate Lifestyles Magazine. Inside was a beautiful full color spread and interview with Robert and Kim Kiyosaki. Here are a few interesting excerpts:

CREL: You have predicted that the real estate 'bubble' is going to burst. Should investors be worried?

ROBERT: If they're worried it means they're not good investors. If they're good investors, it doesn't make a difference if the market goes up or down. The only people who should be nervous are flippers, and I don't consider that investing, I consider that trading. When I buy a property, I make money whether the market goes up or down. When the rental market was bad about three years ago because everybody was buying houses with nothing down, that's when we bought more apartments.

CREL: Kim is it more difficult for a woman to succeed in real estate than a man?

KIM: A lot of women have asked me how I deal with being a woman in a man's world. Actually, it's never been an issue. The real estate market doesn't care if you are a man or a woman. It only cares about how smart you are with your money. Most of the people I deal with in real estate are men, but I've never felt any kind of prejudice or discounting because I am a woman. Besides, I think women make fantastic real estate investors. Women in general are nurturers. That's part of what makes them so successful.

CREL: What should investors avoid in the future?

ROBERT: Don't flip properties. It's tough to flip them right now. Also, don't believe what they tell you about saving money. It's the riskiest of all investments. Gold was about $250 an ounce in 1996 when I bought my gold mine. Today gold is $600 an ounce. That means the dollar has lost over 50 percent of it's buying power in the last ten years when compared to gold. And it's going to get worse. The Federal Reserve has the audacity to tell us inflation is low, when the price of oil and gold and housing have all gone through the roof. Finally, I would dump mutual funds. If the interest rates and the price of oil keep going up, the stock markets are going to crash.

Robert's own analysis of himself: "I love what I do and make a lot of money doing it. I tell people things they don't otherwise hear. Not everybody agrees with me but at least I give them another point of view. And I practice what I preach."

I invested in an oil and gas company a few months back. Recently, visiting their website, I saw that they had a lot of job postings up. The job postings involved every part of the organization. I didn’t know what was happening. Was the company in trouble? Was everyone jumping ship? I was worried so I did what most women would do in this situation…

I called the company shareholder liaison (phone number on the website) up and asked.
(Turns out the company was expanding into another region.)

That is one of the powerful things about being a female investor. We have tools and skills and abilities that differentiate us from our male counterparts. One such skill is that we’re very good at asking questions.

We are also very good at listening and I mean really listening (the hubby “listens” but his definition of listening is staying quiet). We listen for not only the words but the emotions and the hidden contexts of the words. We hear what is said and what is not said. When the hubby hears “it’s not a bad price,” he thinks it’s a great price and rushes out to buy. When I hear “it’s not a bad price,” I hear “but it’s not a good price either” and do more research.

When I ask and when I listen, I keep in mind whom I’m asking and whom I’m listening to. When the company told me that they were expanding into another region, I googled the company name and that region. Sure enough, there was a small article in a local paper about the expansion. If there hadn’t been, I would have called up someone at the expansion area’s business organizations and asked. I would have confirmed the company’s explanation.

The opposite of synergy might well be dysfunction. In marriage, in business, in life and relationships in general.

I just got out of a meeting that dealt with dysfunction in business- and in it, actually, some of the dynsfunctioning people were let go- right then and there. You know what was interesting? It was brought up, addressed, discussed, and handled. Everyone left the meeting with an energy and unity I haven't seen before here.

In business it should be mission first, team, then individual. Unfortunately, many times you find the reverse is true.

More on this later... grabbing a mocha and heading back to handle more dysfunction... lol

I don’t know about you but I don’t have enough time. There are friends that I don’t call often enough, books I have yet to read (just read The Naked Marquis by Sally MacKenzie – a killer funny Regency romance), and places I have yet to see (would love to visit India, what with the tigers and all).

So when I look at investments, synergy with whatever else I am doing is key. I like eating (necessary for life) so I spend time at the grocery store. While I’m there, I’m surrounded by products, products that are owned by companies, companies with stocks I can invest in.

I watch what everyone else is buying (come on, I know you do it, peak in the person’s cart ahead of you, look at what she’s buying, wondering why she needs that crew sized bag of prunes or speculating at why the pretty blonde is only buying whipped cream, strawberries and a single banana). Well, if everyone is buying Kraft cheese slices all of a sudden, doesn’t it make sense to look into Kraft as an investment? I already know one successful product. Maybe they have others.

One of my girlfriends has a teenage daughter. This hip teen devotes much of her energy into being ahead of all the hot fads. My friend used to groan about it. Now she simply buys the stock of the fad producer. She has done quite well. She bought Apple before the iPod became the gotta have it for an entire generation.

Another buddy works in the oil and gas industry. Boring sure (if she tells me another drilling story…) but it has paid off nicely for her. As a receptionist, she doesn’t get stock options or company bonuses. So she created her own. Whenever she sees a competitor doing well, she buys the stock (not telling her boss, of course, not that the boss asks HER opinion).

"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

You shop and get paid for it. Sounds like a scam, right? Nope, I’ve done it (Done most everything - I’m starting to sound like Odd Job Jill) and it is legit.

I did a lot of research (Google is my friend) before signing up with a couple organizations. The organizations did not charge (I am always wary of any company requiring money from me so I can have the pleasure of working for them) and after a few training tests, I was ready to choose secret shopping assignments from the postings.

Secret shopping is used to test the customer service at different organizations. I worked in the office at one quick service restaurant (hint, the one with the golden arches) and they used secret shopping scores to evaluate management. The scores were taken VERY seriously.

As a secret shopper, I had to track everything. The time it took to get my order. Were the fries hot? Were they salty enough? Were the ads up in the restaurants? Were they the right ads? Did I get my free smile? That sort of thing.

This was no get rich quick, retire in the south of France job. Most paid the equivalent of minimum wage for the time required plus a reimbursement for the product purchased. There was no gas money or huge items purchased (no mystery shopping requiring that I buy a new car regretfully).

However, if the restaurant was on the way home and I needed dinner (a single meal), this helped a bit with the grocery budget (if not for the waistline). It also taught me a bit more about product development.

Just came back from two tradeshows and placed orders for the fall/holiday season. Funds were tight but if we don't go on these trips our product lines get stagnant. Some of our product will rarely change, especially our licensed collection. But we need to fill the rest of the store with fresh new product in the fall and spring or our customers would run out of things they would want to buy from us. It was a productive trip. Every time we go we get better at being buyers and this trip we were more focused and productive then we've ever been before. Most of the new items will ship between now and the end of October. Also, did some great networking in the evenings while at the shows. Will have to talk about that in the next post though, it's too lengthy for here. It ties in with Erin's POST party blog.

In order for us to go to the shows we needed employees again, which is fine because the holiday season is approaching anyway. One of our best employees contacted us; she hated her new job and wanted to come back. It was perfect timing for us, so we hired her back. Another girl came in to apply; she was really great so we grabbed her too. They worked 50+ hours each the week we were gone, then we worked all the hours the following week after we came back to prevent overtime for that pay period. Then the next week we left again, they worked a lot, we came back and gave them another week off. It took some creativity but we got it done with only two employees and no overtime. Overtime would've killed us right now; our budget is way too tight for that with sales still being low. Again, I'd rather buy product that will make us more money.

On a warm summers evenin on a train bound for nowhere,
I met up with the gambler; we were both too tired to sleep.
So we took turns a starin out the window at the darkness
til boredom overtook us, and he began to speak.

He said, son, I've made a life out of readin peoples faces,
And knowin what their cards were by the way they held their eyes.
So if you don't mind my sayin, I can see you're out of aces.
For a taste of your whiskey I'll give you some advice.

So I handed him my bottle and he drank down my last swallow.
Then he bummed a cigarette and asked me for a light.
And the night got deathly quiet, and his face lost all expression.
Said, if you're gonna play the game, boy, ya gotta learn to play it right.

You got to know when to hold em, know when to fold em,
Know when to walk away and know when to run.
You never count your money when youre sittin at the table.
There'll be time enough for countin when the dealins done.

Now evry gambler knows that the secret to survivin
Is knowin what to throw away and knowing what to keep.
cause evry hands a winner and evry hands a loser,
And the best that you can hope for is to die in your sleep.

So when he'd finished speakin, he turned back towards the window,
Crushed out his cigarette and faded off to sleep.
And somewhere in the darkness the gambler, he broke even.
But in his final words I found an ace that I could keep.

You got to know when to hold em, know when to fold em,
Know when to walk away and know when to run.
You never count your money when youre sittin at the table.
There'll be time enough for countin when the dealins done.

You got to know when to hold em, know when to fold em,
Know when to walk away and know when to run.
You never count your money when you're sittin at the table.
There'll be time enough for countin when the dealins done.

Subject: What's Your Time Worth?

You know that old saying "time is money"? Do you really know what your time is worth?

Well, there are two very simple, basic ways to gain at least two hours in your day:

Sleep less: The average person really only needs between six and eight hours.

Watch less television: The average American watches approximately three hours per day.

Take the steps necessary today to stop procrastinating, daydreaming, being inefficient and missing out on the life you desire.

How about a different perspective on the value of your time? The chart below shows what time is worth by the hour and by the minute based on a 40-hour work week: (technical difficulities- hold on- you get the idea!)

Annual Every Each Annual value
earnings hour minute of 15 minutes
are: is worth: is worth: wasted per day:
$45,000 $21 $0.36 $1,406
$50,000 $24 $0.40 $1,563
$60,000 $29 $0.48 $1,875
$70,000 $33 $0.55 $2,188
$80,000 $38 $0.63 $2,500
$90,000 $43 $0.71 $2,813
$100,000 $48 $0.79 $3,125
$125,000 $59 $0.99 $3,906
$150,000 $71 $1.19 $4,688
$175,000 $83 $1.39 $5,469
$200,000 $95 $1.58 $6,250
$225,000 $107 $1.78 $7,031
$250,000 $119 $1.98 $7,813

One more way to gain time in your day.

Discover why you may procrastinate. Here are the top ten reasons we procrastinate:
(in alphabetical order)

Avoidance, Fear of failure, Feeling Overwhelmed, Lack of Commitment, Low
Self-Esteem, Not A High Enough Priority, Perfectionism, Resentment,
Undervaluing the Rewards, You Just Plain Don't Want To

In our quest for success and search for the easy answer, we must always ask the question "Why am I doing what I am doing?