The 'UP' side of a 'Down' Economy

I was fortunate to be raised in a family that taught me an important principle about life and that is this: Life is what YOU make of it.

I know it may sound trite, but I have found this to be a true and correct principle. You may be thinking, "I thought I was going to read about the upside of this down economy. What does LIFE have to do with it?" The answer is: EVERYTHING!

Is is true that the economy could stand a little boost? Yes!

Is it true that it's all doom and gloom out there? Only if you choose to make it true by buying into all the media hype out there. Afterall--they want to sell papers, magazines and commercial spots...don't they? How better to do that than with fear and manipulation? I'm not saying ALL media outlets have taken this road, but it is the general tone of the majority of media outlets today.

What I'm trying to get across is that this economy is so much more than stockmarket portfolios, corporate downsizing or the mortgage crisis. What it really boils down to for me and my family is that our society lives in excess! The concept of living within your means is foriegn to far too many and that is part of the reason that many have reacted with fear to the recent economic downturn.

Life IS what you make it and that is all that is happening. It's time to pay the piper, so to speak. And we ALL have ended up paying in the end. So where's the upside you ask???

It's up to us to CHOOSE how we react now and how we go forward from here. Here's what we've done in our family to ride out the storm.

1. Save for a rainy day! When I got my first job and checking account when I turned 15, my Dad also insisted I open up a savings account. He said, "ALWAYS pay yourself FIRST!" That principle taught me to prepare for life's little emegencies and has been a valuable habit--literally! I've been through "hard times"--Hurricane Katrina. We lost our community, our home, our posessions and started again from scratch. Thankfully, we encurred no new debt--because we saved for a rainy day.

Living paycheck to paycheck? No extra? Been there, done that! Look at your living expenses and see what you can temporarily sacrifice for a long term gain. For us, it was cable TV and eating out several times a week. In one short year we saved over $5,000 JUST cutting out those two non-necessities.

Still no wiggle room? Get creative and find ways to generate a secondary source of income! Again, necessity is the mother of invention. Been there, done that too! Tap into your talents and resources--you'll be amazed at what you find.

2. Make this a teaching opportunity. We've chosen to focus on the positive message being prepared gives to our children. Those who are prepared are not in fear.

3. Makeover your Money! If you're not sure "how" to budget--get a book! Dave Ramsey and Suze Orman are awesome! I've read numerous books they've written and really have a handle on how to keep us in great financial health! One of the best things I ever learned was to live on a "cash" budgeting system. If the "cash" isn't there and it is NOT an "emergency" (and I learned that pedicures do NOT constitute a true emergency) then I simply don't spend it. Ever wonder WHERE all your money goes? Keep track of EVERYTHING you spend (every penny, nickel and dime) for one week in a notebook. You will be AMAZED at what you find.

4. Don't believe the hype! Yes, things aren't perfect. Yes, some of our family, friends & neighbors are facing hard times. The worst thing we could do is to do NOTHING because of the fear of the unknown! Where will that leave us? Life must go on and we must be the ones to drive the economy forward. We can't do that if we live in fear and cease our activities of daily living.

5. Share your abundance If you have found yourself in good financial standing--Bravo for you; but, it's time to pay it forward. If you have a knack for budgeting, share it with someone who lacks in that area. If you have the ability to give--give as generously as you can. Time can be as important of a gift as currency. It is time to take care of our own. If you know of someone who faces a lay-off, see what you can do to ease their burden.

Recently, I attended a networking event where a member brought her 7 year old daughter along. She did so because her 7 year old, along with her best friend, was fundraising for the Make A Wish foundation. A brownie troop visit to the Greater Houston chapter of Make A Wish had inspired these young girls to give back. In fact, they had asked that all monies meant to be utilized for their upcoming 8th birthdays we donated instead so that the girls could be Wishmakers. A "gift" of $5,000 is needed in order for a Wishmaker to grant a wish for another child.

I can only tell you that I couldn't write a check fast enough so that the tears would erase the ink! Those little girls not only met their goal, but they EXCEEDED it. It all started with a greatful heart and a powerful lesson from home--that LIFE is what you make of it.

May we ALL make life the BEST life possible for ourselves and others.

Tuesday Toot!!!

How FUN!!! This is my first "toot", so here goes...
My hubby and I have been reading Dave Ramsey's "Total Money Makeover" together. It's AMAZING and has given us insights into our spending habits. We've been married almost 10 years and this is the FIRST time I can say that we're on the same page as far as our finances go. It's not about how much you earn, but how much you KEEP! So, my toot is that I PASSED UP a cute pair of shoes that I TOTALLY wanted, but did not need! YAY!!!!

It's a quick read and it will change your financial future!

Edie

WHY settle for "Just Over Broke"????

I responded to another post last week where a fellow business owner wanted to know why so many want to just have a "job" and be someone's employee. Better yet, they want to be someone's "employee" from HOME! Very few are able to accomplish this goal. That's just the truth. If it were EASY to find an at-home-job, don't you think that MOST people would do it??

We, especially women, are raised to be BROKE! Think about it--we're taught get an education, get a JOB, participate in the 401k so that when you "retire" you'll have extra money to live on. We PLAN to be broke. Does that make sense to you??? It didn't to ME!!!

Don't get me wrong. I totally value the education I gained in order to be a nurse. However, I didn't get stuck in the mindset that working for someone else was the only way to have security. Just talk to a nurse manager who's been "downsized" for a new grad who'll work for LONGER hours at HALF the pay! This happens in ALL types of professions.

It IS frustrating to those of us who CHOOSE to be EXTRAORDINARY (and this is a conscious choice!) to deal with those who are happier than pigs in you-know-what just to be working for the "man". We can't understand why so many settle for mediocrity. You can avoid this frustration by following this advice: surround yourself with like-minded individuals. If you're job seeking, find someone who has the type of "job" that you want. If you want MORE than a "job" can offer, consider ALL your business options.

Ask yourself this: Who are your CLOSEST 5 friends and how much INCOME do they earn??? What kind of lifestyle do they lead?? This will allow you to glimpse where you're headed. Doubt me? Ask yourself how many "broke" friends does a "rich" WOMAN have??? 0...otherwise she won't stay rich for long.

Here is my personal case study. When I started my OWN business 3 1/2 years ago, I can tell you that MANY of our friends and family voiced their opinions on the matter. I heard it all--especially because I had FAILED 4 times before. However, FAILURE is critical to SUCCESS. Not many people understand that. How can you know what to do right if you haven't tried it wrong???

Anyway, these family members and friends ALL lived paycheck to paycheck. They had NO dreams--NO vision. I didn't let THEIR lack of support stop me. I DUG in and WORKED like there was no tomorrow. I sacrificed and my family made sacrifices as well. I surrounded myself with those who were "Getting it DONE!"...not the one's who WISHED they were. I had MANY mentors...not all were part of my team or industry even. We can learn from many and I certainly did.

And you know what??? By the end of the FIRST year I had out earned everyone who we were associated with--even our most EDUCATED friends. I had a NEW vehicle PAID FOR by the company as a reward for my work and I was just getting started!

You may say, "WOW! You worked for a YEAR to reach you goal?" or "But I want it ALL and I want it NOW and I want it to be EASY and I want it to be FREE!!!"

But, if you do NOTHING today your TOMORROW will NEVER change!

Fast forward to now--- 3 1/2 years of effort total (less time than most spend in college getting a degree) and I'm on the verge of a SOLID 6 FIGURE income. I have a 2nd NEW vehicle sitting in the drive way paid for by the company I partnered with.

There is no more "paycheck to paycheck", dodging bill collectors or repo men for me. The BEST part is the FREEDOM to choose how to spend each day and the FREEDOM to CHOOSE who I work with.

Where are all the naysayers???? STILL in paycheck to paycheck HELL!

Hopefully you see my point.

Not ALL individuals are cut out to be entrepreneurs. Some are completely content letting someone else call the shots. Some expect LIFE and SUCCESS to be EASY! There is no such thing! Long-term success IS hard work--that's why it is called WORK.You won't find me wasting my time trying to CONVINCE someone that they can DO this--because the TRUTH is they can't...not if I had to convince them! WHY??? Because SUCCESS is a matter of CHOICE, not a matter of CHANCE!

Some of you moms reading this may AGREE with me. You may be screaming at your computer screen "RIGHT ON SISTAH!!!" and wonder, "What now?"

Find your passion, CHOOSE to become EXTRAORDINARY, SHUT up, STOP whining and GET TO WORK on reaching your goals! Then and ONLY then, will you find that you will spend the majority of your time letting others convince YOU that they are right for YOUR team.

Thanks for letting me share!

Edie--WAHM of 2

8 Qualities of a Wealthy Woman

The 8 Qualities of a Wealthy Woman
By Suze Orman

What keeps women from achieving the financial security they -- and their families -- deserve? I believe the root of the problem lies in the dysfunctional relationship women have with money.

That's the launching point for my new book, "Women & Money: Owning the Power to Control Your Destiny." My message to all women: Owning the power to control your destiny requires more than 401(k)s and Roth IRAs. It requires reconditioning from the inside. In this excerpt from "Women & Money," I discuss the eight qualities of wealthy women.

Qualities 1 and 2: Harmony and Balance
Harmony is an agreement in feeling, approach, and sympathy. It is the pleasing interaction between what you think, feel, say, and do.

Balance is a state of emotional and rational stability in which you are calm and able to make sound decisions and judgments.

Harmony and balance are perhaps the most important qualities of all, for they serve as the foundation for the remaining qualities. When you possess true inner harmony, what you think, say, feel, and do is one. We are so accustomed to this split-screen state of mind in which we think one thing, say another, feel something else, and act in a way that has nothing to do with what we just thought, said, or felt. When your thoughts, feelings, words, and actions are not in harmony, it shows up as an imbalance -- you feel agitated, uncomfortable, you sense something is off, so you find it difficult to make rational, calm decisions. This is why these two qualities are a pair.

Quality 3: Courage
Courage is the ability to face danger, difficulty, uncertainty, or pain without being overcome by fear or being deflected from a chosen course of action.

Courage gives harmony expression. When your thoughts and feelings are one, courage helps you manifest them in the form of words and actions. When you are afraid to speak or act, courage helps you overcome your fear. Courage gives you the ability to speak your truth, even when it is not what others may want to hear.

Fear is usually what stands between us and our courage. But if we are to embrace this quality of courage to its fullest, we can no longer allow ourselves to hide behind fear. You can meditate on your fear and think about it rationally and try to will it away, but in the end, if fear is preventing you from acting, you must find your courage and act to overcome your fear.

Quality 4: Generosity
Generosity is when you give the right thing to the right person at the right time -- and it benefits both of you.

Generosity is a quality that most women can tap into very easily -- maybe too easily. As women, we tend to be overly generous with our time, support, love, and money -- but giving simply for the sake of giving does not match the definition of true generosity.

True generosity goes far beyond what you give to others. In giving there is a power, an understanding that you are just the vessel that wealth or energy flows through. You allow money to come in through your hands and out through your heart. To be empowered to give, to be moved to give straight from the heart, is a feeling that all the money in the world could never buy. So let me ask you: Is that how you feel when you constantly give of yourself? Do you feel enhanced or do you feel diminished? You think of yourself as a giver, as generous with your time, your talent, your money. Others probably describe you as a generous woman, but if I were to look at you, I might think you give for the wrong reasons. Do you give because you feel that you should? Do you give out of guilt or embarrassment? Understand that true generosity is as much about the one who gives as it is about the one who receives. If an act of generosity benefits the receiver but saps the giver, then it is not true generosity.

Quality 5: Happiness
Happiness is a state of well-being and contentment.

When you find the courage to live your life in harmony and balance, when you understand and practice generosity in the truest sense, happiness spontaneously appears. When you are happy, you are open and accessible. When you are happy, you tend to be more optimistic. You approach new challenges with a clear mind that seeks positive solutions. You see possibilities rather than problems.

Happiness is not a luxury. It is a necessity for true wealth. When you are happy, you have the satisfaction of knowing that your actions come from a place of purity and balance, that they are correct and generous and kind. There are no regrets in this state of happiness -- and that's a goal worth striving for in all areas of your life.

Quality 6: Wisdom
Wisdom is the knowledge and experience needed to make sensible decisions and judgments, or the good sense shown by the decisions and judgments made from an accumulated knowledge of life that has been gained through experience.

The quality of wisdom is more than intellectual, and it is in no way related to how much schooling you have. Exercising wisdom requires cutting through the noise of life and tapping into your core beliefs to make thoughtful decisions. Wisdom results from inhabiting all the qualities that came before it. A wise woman recognizes when her life is out of balance and summons the courage to act to correct it. A wise woman knows the meaning of true generosity. A wise woman knows happiness is the reward for a life lived in harmony, with courage and grace. A wise woman knows how to summon her courage and do what is right, rather than what is easy.

Quality 7: Cleanliness
Cleanliness is a state of purity, clarity, and precision.

Cleanliness is about respecting the importance of order and organization. When you don't know where your money is, when you have no filing system for your important documents, when you dive into your pocketbook to pull out crumpled bills, when your car looks like a garbage can, when your closets are filled with junk and clutter -- you cannot possibly be a wealthy woman. You need to clean up your act -- quite literally -- to bring true wealth into your life. In India, women sweep the front entrance to their home each morning as a way of welcoming Lakshmi, the goddess of material and spiritual abundance, into their home, for there is a belief that she resides at the threshold of every house. In order for her to enter, she must have a clear path.

You might be reading this and thinking that cleanliness is nice but not essential to your financial well-being. I am here to tell you that if this quality is not up front and center, wealth will elude you and you will be left with the mess that you created. Respect the power of this quality of cleanliness. Tell the universe that you have cleared the path for wealth and abundance to enter.

Quality 8: Beauty
Beauty is the quality or aggregate of qualities in a person that gives pleasure to the senses or pleasurably exalts the mind or spirit.

Beauty is what you create when you incorporate the other seven qualities into your life. When you take the steps to have harmony, balance, courage, generosity, happiness, wisdom, cleanliness, and beauty in your life, you will exude confidence in who you are. And there is nothing more beautiful than a confident woman. Remember, when you are confident you feel secure, and when you feel secure you have no fear. And when you have no fear, you have the courage to say what you think and feel in a calm and wise way. And when you are calm, you make wise decisions with your money, which then allows you to be truly generous to others as well as yourself, which, in turn, makes you a happy, powerful, and beautiful woman. Do you see how all of these qualities work together to help you arrive at the goal of being a woman in control of her destiny?

Summoning the 8 Qualities

I've noticed, in my own life and in others', that the more you summon these qualities, the easier they are to access. Harmony yearns for more harmony, and balance abhors imbalance. Courage begets greater courage. Once you are generous in the right way, a lesser form of generosity will feel inferior to you. True happiness will never permit you to settle for a lesser form of happiness. Cleanliness recoils at disorder. Wisdom, once achieved, is with you forever, and beauty inspires beauty in all things.

Carry these qualities with you throughout your life. Write them on a notecard and keep them close at hand -- in your wallet or in your pocket. Make it into a talisman to guide you every day as you make your way through life and all its impossible demands. These qualities will keep you focused and tranquil. Let them and they will offer you constant reassurance that you are acting powerfully and correctly, with love in your heart and the purest intentions, to realize your goals of security and comfort for yourself and all you love.