Dave Ramsey on Divorcing Mom Financial Responsibility

https://youtu.be/4WQv4WbBQ3A

Like She Said, "Prince Charming isn't coming to save you..." , pay your bills, dictate where you live, work or play!

Check her out!
https://pd985.isrefer.com/go/BSI/Catfree/

Often called a confidence-building classic, this book has inspired millions to take charge of their finances and increase their net worth.

Working as a journalist, Stanny started interviewing financially savvy women to help her figure out how to manage money after divorce.

The result—a heartfelt and informative read full of inspiring anecdotes, surprising realizations, emotional insights, eye-opening exercises, practical advice, and very clear steps to help you achieve financial mastery. “Penned in catchy, clear prose,” wrote one critic, “[this book] is guaranteed to give the greenest novice much of the monetary know-how she needs.”

This is probably the first financial book to deal with the Inner as well as the Outer Work of Wealth. As another reviewer explained: “this book is the next best thing to having one’s own financial coach.”

    Plus Monday free call once a month.  She goes deep into the discussion. On October 4th, I sat in on her monthly call. All participants can call in with questions and get direction as to what resources or advisors to contact to help with financial management and general financial guidance.

     Be patient.  Some callers tend to be timid about asking their questions, which leads me to suggest that you think through and write down your question(s) if you decide to participate in the discussion.


 

Go to her website, www.barbarastanny.com for all the information and resources any woman would want. See link above.

Sher Genius: Welcome 2016

Welcome to 2016.  There have been many conflicting predictions for what lies ahead for 2016.  Many financial pundits believe this will be the worst financial year in decades. Others see unemployment at an all time low and the economy on the rebound. 

Now's the time to take stock as we set out to take on our goals for 2016. When asked what are the keys to success, the answer usually is preparation, preparation, preparation.  How are you getting prepared? 

Please consider these thoughts from Barbara Sher, Life Coach, in the attached link. Aside from my mother and God, she has served as a real inspiration in the things that I endeavor to accomplish.

Happy New Year!

https://youtu.be/H2rG4Dg6xyI

Prosperity Is Yours

Think Prosperity not Scarcity as We Enter this Holiday Season. Please take some time to look back at some of my older blog posts. Please keep an eye out for my forthcoming end of year blog that will be inspired once again by Robert Kioyosaki who has teamed up with Garrett Gunderson, author of the 2008 Best Seller Killing Sacred Cows, in his live podcasts and training programs. What's your dream? What are you doing to achieve it?

You Don't Know What You Don't Know:YWCA's Money Conference for Women - Register Today!

MetroHartford Alliance recently shared the following information:

       

YWCA Hartford Region and Honorary Chair Denise L. Nappier, Connecticut State Treasurer, will host the 2014 Money Conference for Women, a free conference to help women of all ages take charge of their financial futures. This year’s conference features first-time keynote speaker, Valerie Coleman Morris. Hear business journalist and author Morris’ message “Unlimited by Design: It’s Your Money So Take It Personally.” When it comes to money, women need to be far sighted, start saving early and stick to their money plan.

The conference features workshops led by financial experts on topics such as budgeting, investing, retirement planning and featuring a new workshop for women who are thinking about starting a small business. Conference attendees can also visit the Financial Expo to learn more from a variety of financial service providers. All attendees will receive a free tote bag.

The event will take place on Saturday, October 25, 2014 from 7:30 AM – 2:00 PM at the Connecticut Convention Center in Hartford, CT. The conference is free but registration is required. To register go to www.ctmoneyconferenceforwomen.com. To request a registration form, or to get more information about the event, call (860) 525-1163, ext. 450. Workshops will fill up quickly. Register early to secure your first choice of workshops! 

All the best and Happy savings.

Budget Blues

I find myself reflecting on my written budget and realizing once again that budgets are hard for me to maintain. Why are budgets so elusive for some of us?

Apparently, busting the budget is more common than you might think. A quick search of the internet reveals that currently across the country towns, cities and states are busting their budgets related to the treacherous and recurring weather events across the country.

According to writers at www.Selfgrowth.com, "Busting the budget" is a common pitfall in personal budgeting; frequently busting the budget can allow consumers to fall into pre-budgeting spending habits. Anticipating budget-busting events (and underspending in other categories), and modifying the budget accordingly, allows consumers a level of flexibility with their incomes and expenses.

The fact is that debt-to-income ratio is a real sucker punch to any budget. Depending on how you transitioned out of your divorce, we all have to think of creative ways to finance our post-marital bliss.

As for me, I kept dial-up service up until about 3 years ago because I figured that was one way to save money and it would be a constant reminder that I was on a mission. Unfortunately, I eventually "needed" wireless service for "work at home" purposes. I did get the wireless internet service, but I also dropped the land-line at the same time.

Now that's just one example of a minor belt tightening measure. How about shopping options for a used car rather than a car with years worth of payments left or how about apartment hunting? You can start the hunt on-line and do some comparisons between what you pay now and what you could pay in a new apartment/rental house/condo/farm...whatever. Whatever the case, the search on-line is "free" and it could even be motivating. Perhaps enough motivation to weather those budget blues.

As for the towns, cities and states, they will come knocking at our doors to shore up those busted budgets soon.

Taking Stock

To Stock or not to Stock, that is the question or at least it could be the question when considering how to spend for the essentials and how much to spend for those essentials.

(c) 2013  

I started this post on the eve of a snowstorm, Derby, and as it turns out I find myself finalizing this post one week later on the eve of another snowstorm, Easton or Pax, expected to drop a good 10 inches or more of snow here in New England.

I don't typically stock because there are 5 good stores within a 2 mile radius of my house. However, when I know that I will be on trial for the next two weeks, I aim to take an ounce of prevention approach over a pound of cure. Typically, on busy trial days I throw in the "simply homemade" towel for the fast food drive-thru options that also abound in my neighborhood. There are at least 5 fast food establishments within a quarter mile of my house. Ode to urban sprawl.

I went to the store to stock. So when all was said and done what was the damage? Don't gaff...$98. My total Giant Sale savings were $47. Some of you might be saying to yourselves, I wish I had a grocery bill that was that low for a two week period. However, keep in mind that this isn't really about my dollar figures or my budget. It is about knowing your figures and your budget. All of our circumstances are custom fit to our lives. As for my circumstances, my boys go to their father's on Wednesday and then again every other weekend.

Stocking up on gas is also warranted especially if you can get discounts from certain grocery stores (BJ's, Stop&Shop and others). One time I had 303 gas points which equates to a .30 cent per gallon discount. I could go about two weeks on a tank of gas; that's a deal that has some mileage to it. However, these days I am focusing on keeping gased up, especially with the long travel times associated with the inclement weather.

I recently timed my homebound commute. I realized it takes me 20 minutes to get home even though my office is 3 miles away; and that's in moderate traffic. Once it took me 1 1/2 hours to get home along the same route; that was the big snow storm back in 2008.

Here are some suggested items to stock for emergency reserves (think snowmaggedon, think layoff), take it for what it's worth:

1. 20 lb bag rice



Yum!  (c) 2013.



2. 20 lb bag beans

3. 20 cans of fruit



4. 20 cans of vegetables

5. 20 cans of meat

6. 2 large jars of peanut butter

7. 2 large cannisters of tang

8. 2 containers of powder drink mix

9. 2 bags of flour

10. 1 bag each of sugar, salt, and oats

11. 1 gallon of olive oil

This list is courtesy of youtube.com (Note: it doesn't mention water, which of course you would need plenty of in an emergency.)

What is Your Tax Strategy?

Will you get a tax bill or a tax refund on April 15th? If you were employed in 2013 and you did not have sufficient tax withholdings, you will get a tax bill come April 15th. If you have over-withheld then you will get what a lot of Americans look for, a 4 digit refund. That 4 digit refund is your hard earned money that you earned during the preceding year but did not get in your regular paycheck because you asked the government to hold too much of your money.

Public Domain Photo see link below

Odds are you could have used that excess money to pay down monthly bills during 2013. If you get $2,000.00, yes you could paydown that holiday credit card bill, but in the alternative you could have had that money in your paycheck in October, November and December and purchased your holiday gifts with cash. Of course, if you got through those months on a shoe-string then you know those extra dollars in your paycheck (if you had one) could have stretched your budget that much farther.

If you are consistently, year after year, getting a 4 digit refund, I challenge you to think about taking a look at your W4-withholdings. Have you claimed all of your dependents (if you claim your dependents), have you adjusted your marital status since your divorce? Do you file your taxes claiming standard deductions or itemized deductions? If you have significant deductions year after year, for example, mortgage interest deductions, dependent childcare deductions, charitable deductions, student loan interest deductions and various child credits, you really might want to consider your options. Remember, you do have options. Happy tax season!

Humor and Feed Yourself

Can you spot the difference? Well aside from the fact that this was my lunch at work and it does not necessarily look like the average lunch one would have at work.

I have to admit this lunch threw me for a loop. Coming off my slow paced holiday break from the office, I thought I had finally adjusted back to my work schedule. Part of that schedule entails prepping and bringing morning, snack and lunch items to work. Apparently, in my mind when I brought/bought this lunch bowl on sale for $1 it was nothing more than a glorfied ramen noodles in a plastic bowl.

A big pat on the back goes to the marketers of this brand because I was really reeled in by the tantalizing chicken pieces and the vibrancy of the fresh green onions. The morning of my meal prep I thought nothing of tossing this along with my teas, chocolates, yogurt, snack bar, spoon, fork, papertowls and tangerines into my lunch bag. Had it have been the ramen noodles I would have 1) been mentally prepared for ramen noodles 2) I probably would not have brought it for lunch and/or 3)I would have brought some embellishments to add to it.

Point being, there are great ways to prepare your "away from home meals" for the day and save yourself money in the long run by not buying breakfast, lunch, and snacks at the corner deli, food chain, or other franchises that like to beckon for our daily dollars (the ones we really don't have to waste). Just like any discipline, there are times you are going to splurge, but consider what is going to be your norm. I honestly can say after seven (7) years at my day-job, I can probably count the times I have bought lunch(and for that matter breakfast too as a lot of people at my job buy breakfast).

Besides, if you are in the business of lunch networking you can save those splurges for those times where you are building your future/brand at a luncheon event or a networking lunch; eat at your desk or lounge on the rest of the work days with the satisfaction of knowing your hard earned dollars are not being eaten up by inflated store prices. And for those of you readers who are thinking "I skip lunch or breakfast" or "I cannot afford them so I don't even eat," think about how that is working for you and how that is working for your body. Divorced moms (heck, all moms) have to stay healthy because there is so much to juggle.

Survival of the Financially Fittest

Is this your second Pay Day of the month? I pray for you and for me that on payday we do not have that shared feeling that payday is spending spree day.



Red-tailed Hawk feasting on gull-1/15/14 (c)

 

If we are serious about paying down our liabilities then we need to resolve and resort back to our written payment plans that we prepared at the beginning of the new year and follow through on our respective commitments (whatever those are) to chipping away at our liabilities or in some cases making that 'payment due' to keep things going. What's your survival strategy this Pay Day?