Finance Book

In lieu of a traditional how-to article, I want to review two books that I’ve read recently that have had an enormous impact on my thinking. Women traditionally have such a hard time accepting their talents and abilities – and an even tougher time asking for and earning what they are worth.

Once I started reading each of the books I’m reviewing today, I could not put them down! The pages were filled with insight that had me scribbling down notes, to-do’s and exclamation points. The exercises in the books really drove the important points home.

These fabulous books are both written by Barbara Stanny, a popular motivational speaker, former journalist, and syndicated columnist. Her personal story is interesting because she actually came from a very privileged background. Then she married a guy who turned out to be less than skilled at managing her/their money and lost it all. After she divorced, she realized it was past time for her to learn how to manage her own money. Along the way, she realized her thinking about money was different, too.

Secrets of Six-Figure Women I love this book for so many reasons. First, it was inspiring to read about the transformations and successes of the women she profiled. I was encouraged to read that even six-figure women have doubts and fears. But most of all I appreciated the different mindset that the author identified as she spoke to these very successful women. Through the course of reading the book, the author outlines seven strategies to becoming a six-figure woman:

1. The Declaration of Intention
2. Letting Go of the Ledge
3. Getting in the Game
4. Speaking Up
5. S-T-R-E-T-C-H-I-N-G
6. Seeking Support
7. Obeying the Rules of Money

I don’t know about you, but I like a list of things to concentrate on. The exercises in the book helped me to really focus on what’s important to me, helped me figure out what I really think about people who are rich and challenged my beliefs about money itself. Throughout the book, the author revealed ways for me begin to think differently about the subject of money.

One of the final paragraphs in this book really spoke to me:

“Release the extraordinary buried inside you. Awaken the Goddess within. Every time you leave the beaten path and aim for exceptional, every time you silence your fear and speak with your own voice, every time you stop acting small and start taking up space, you are owning your power and emancipating others to follow in your footsteps.”

Deciding how much money you want to earn each year – and really believing you are worth it – is another way to speak with your own voice and own your own power. For a lot of us, getting comfortable with setting our prices (and sticking to that) is one way to tangible way to do that. Then, imagine yourself leaving that beaten path, choosing to become your own boss, and defining your days any way you choose!

And on the well-soled heels of Secrets of Six-Figure Women, comes:

Overcoming Underearning I read this book first, and I literally couldn’t put it down. I devoured it with lots of pleasurable “ah-ha’s!” and even had a few uncomfortable moments as I recognized some areas that needed work. While I am having very good success with my business, I’m still an “underearner” in some respects!

One of the great things about this book is how you are encouraged to participate as you go along. At the end of each chapter, the author asks you consider questions in “Conversations with Myself.” She challenges you to stop and think about what you’ve just read and be honest in your responses. There are also exercises to help you uncover your beliefs and fears around money, and she introduces ways to begin thinking differently about your earning power.

The book works because the author slowly and methodically introduces you to another way of thinking about money and earning. By participating in the exercises and being honest with yourself, this book can indeed help you overcome the unnecessary habit of underearning.

As women, it is our duty to become comfortable and confident in handling money, talking about money, and managing money. In developing these skills, you tell the Universe that you deserve the freedom and security money provides and you begin to realize that you have the power to create it. Harnessing that power is truly a gift!

Both books are available at Amazon.com. Can’t afford a new copy? Try their used section! Online at www.amazon.com

By: Angela Mattson

When you run a business, your own personal attitude and experience is going to come into play on a regular basis. To remain on the cutting edge of both the business world and your personal life, you can benefit by constantly educating yourself in all areas that interest you and pertain to you and your business.

Self development is going to be very important to your mindset in business and in life. When you are constantly looking for ways to improve upon yourself, it will show in your business and in all aspects of your life. There are many different ways you can do this. Simply reading and watching all that you can is a great way to start.

There are many audios, videos and books that are available at the bookstores and online that is readily available for consumption. Two great books to read, for example, are Napoleon Hill’s “Think and Grow Rich” and Wallace Wattles’ “The Science of Getting Rich”. Other books include Chet Holmes’ new book “The Ultimate Sales Machine”, Anthony Robbins’ books, and the Guerilla Marketing book series.

You can stay up to date on all the new developments in your niche as well as great business news and information by subscribing to newsletters and magazines as well. Forbes, Bloomberg and CNN are some of the leaders but there are many great sources to teach you more about business and help you educate yourself of the industry.

Why Education is Important

Education is important when it comes to your business and your personal life because the more you know, the better equipped you will be to handle any important decision you are faced with. When the unexpected arrives, you will know the best course of action to take. When faced with difficult decisions your knowledge will help you determine how to deal with these problems. It also helps you stay ahead of competitors and always maintain the top of your game.

When it comes to your business, the better your education, the easier it will be for you to deal with customers. You can take courses to teach you how to approach customers or how to handle an irate customer. You can also learn how to be a positive leader which will help with people you are managing. These skills are essential in any business if you want to be successful. The customer is what makes your company thrive. Poor communication with customers could mean the end of your business. Poor management skills will mean no one wants to work for you or that your employees will not do their best. These skills are also very important in everyday life as you meet all types of people in many different moods on a daily basis.

New technology is being introduced constantly and the only way to stay on top and up-to-date is by constantly educating yourself further. If you stop learning new things, one day you will realize that somewhere down the line, you got left behind. Other companies are still moving forward and you are stuck in the past. Customers look for new modern technology and businesses that understand how it works.

How You Can Educate Yourself

When it comes to getting an education you have several choices. The first thing that you need to consider is how much time you have to put into furthering your education. As we mentioned above, there are many books, audios, videos and other sources both online and offline that can help you educate yourself. In fact, you can go to your local library and get every book you can find on the topic of business and finance and management. You should also look in the self help section for books about motivation, organization and more.

Whenever you have the opportunity to take advantage of a seminar, do so. These can be very beneficial and educational. There are seminars that you can sign up for online as well. This way, you don’t have to travel and you can take the class or attend the seminar from the Internet. The important thing is that you understand that you need to constantly educate yourself if you want to keep up with the world in which you live.

(c) 2007, Doug and Claudia Brown of www.whatisyourplan.com All rights reserved. Reprint rights granted so long as article and by-line are published intact and with all links made live.

By: Douglas C. Brown

One of the most important books that I’ve read during the past year is T. Harv Eker’s Secrets of the Millionaire Mind. I want to review and share a savings plan that Eker shares in Chapter 14 called the Millionaire Mind Money Management Plan. Eker begins his chapter with these words:

Rich people manage their money well, Poor people mismanage their money well.

It’s an excellent chapter, and I’m going to share with you a summary of the financial management plan that will set you on the right path to building wealth. It’s important in all things resulting in success that you take action. So, no matter what you can start with, even if it’s a dollar a month, you must take action and begin to manage your money.

Some people say, “Well, when I get ahead financially, I’ll manage my money.” That’s a poor person mindset! The millionaire mind begins to manage now, because if you can manage a little, then you’ll begin to manage a lot. I was SO into this way of thinking in the past. When I turned it around and began to manage money, I started to get wealthy!

Before I share the money management plan, here are some wealth principles from the chapter and that Eker teaches at his Millionaire Mind Intensives.

Until you can handle what you’ve got, you won’t get any more! The habit of managing your money is more important than the amount. Either you control money, or it will control you.

So, how exactly do you manage your money? Here’s a great plan from the book. Remember, it’s important to start, not the amount. Start with $1 if you must; just start! Get the habit going!

Prepare 6 jars (”Jars” can be literal, or bank accounts, or categories on a spreadsheet).

Place the following amounts in each of the jars every month after taxes.

Financial Freedom Account (10%)- used only for investments and buying or creating passive income streams. Money is never spent, only invested. Also, have a Financial Freedom Jar where you deposit money each day ($1, $10, loose change). Do something daily. Play Account (10%)- Use this money to nurture yourself. Use it for extra-special things in your life. The only guideline is that you must spend the money every month. Use it each month in a way that makes you feel rich! Education Account (10%) – Set aside money for your education (school, seminars,etc.) or your child’s education. Long-term Savings for Spending Account (10%) Giving (10%) Necessities Account (50%)

Start the plan and let the universe know that you are ready for more money.

By: Marc Smith