Posts Tagged ‘entrepreneur’

postheadericon Day 26 of Money and Marriage Talk with Eric and Taffy

What a very productive day. I woke up with a marketing plan in mind for one of my target audiences and vowed to remained focus no matter what. As a matter of fact when hubby came down to leave, I talked with him about what I was doing that day. He provided a strategy for me to utilize to weed out “tire kickers” or people who were not serious about impacting Marriages when it comes to my book, Bride and Groom Money Talk FAQ. I loved it because this would alleviate me sending the book and nothing happening with it. Very important for me to get the book into the hands of those who are serious about helping marriages succeed.

This was a day of paying our twins their allowance and making some choices when it comes to business. How to invest – the amount, what vehicle would I use to accomplish some of the things my husband and I talked about over the weekend and moving forward. Such a GREAT concept to have a plan. Business owners do what you know needs to be done and don’t procrastinate! Make up your mind – what do you want to see happen and begin MAKING it happen.

Later that day, my research and new strategy begin paying off. Nothing like a little encouragement to show you, you are on the right path and continue. More and more will come on board that believe in what you are doing when they are somewhat connected in the same industry but not exact field. LOVE IT!

Money and Marriage Tip for Today:

1) Don’t give up on what you know will work! Trust and believe in yourself.

2) What does teamwork mean to you? A team is made up of more than one person.

3) Partnerships work! Do your research.

Money and Marriage Encouragement for Today:

Today focus on good thoughts and repeat : OUR marriage WILL succeed in the area of MONEY! We are a force not to be messed with.

postheadericon Saving Money as an Entrepreneur

As a wife and entrepreneur as well as money and marriage advocate, I thought I should address saving money as an entrepreneur. Most business owners have experienced the ups and downs in business, the busy times and the slow times. Therefore, when you know that business is cyclical you have to be prepared and therefore saving money is crucial as a business owner.

Ways to look at saving money:

1) For the business owner regardless of start-up, been around a few years one of the first things that you should do is make sure you are marketing to the proper target. If you are marketing to the wrong target you are throwing money away. It is almost like the “shot gun” approach. Where you advertise to the masses and hope to hit a client or two. Whereas when you have done your research and market effectively to your target, your dollars are being spent wiser and should go longer.

2) Re-evaluate the different services that you are using for your business. Do you need cell phone, blackberry, pager, etc? I think we sometimes get off track because we become GADGET driven. Think about how much you could save if you only had what you needed not getting all the things that you want.

3) This one is huge. How many subscriptions to different memberships, e-courses and such do you belong to? How much are you spending per month on subscriptions? How much of it do you really use? I remember about three years ago, I cut every subscription off. I was spending almost $200 a month in subscriptions and the business was not paying for it. Take a look you might be surprised. As a personal finances person, we have to evaluate situations in our lives too.

Those are just a tip of the iceberg of ways to save as a business owner. Don’t take it lightly when you are an entrepreneur that you should not save because you should. That way when times are slow, you can fall back on money you have set aside and get really creative with marketing and institute a referral policy at that time.

Savings is not just for the individual, but also married couples, business owners, students and more.

postheadericon Marriage and Money Movie #20 – Steel Magnolias

One of my all time favorites and every time it comes on, I have stop and watch it. Yes it draws me in and I have to get my popcorn. This movie has sooo many facets that I am going to share a little more detail than usual in order that you will see it is worthy of being part of this database.

These women can act – Sally Field, Dolly Parton, Julia Roberts, Shirley MacLaine, Darryl Hannah and Olympia Dukakis. What a cast. This movie takes place in northwest Louisiana – two thumbs up for that.  Many women experience stories happening around the beauty parlor. This story is no different – the action takes place around Truvy’s beauty parlor with women who are regulars. I can see it now, if you are like me when I go to the “hair shop” there are the regulars that I talk with when I see them. Catch up on family life and our thoughts about politics, etc.

Sally Field plays M’Lynn the mother of Shelby and married to Drum.

Julia Roberts plays Shelby who marries a rich lawyer and deals with diabetes, becomes a parent and faces death.

Dolly Parton plays Truvy, the owner of the beauty parlor whose  husband is generally unhappy and has a hard time finding employment.

Shirley MacLaine plays Ouizer who has been married a couple of times before, she has money but has such an interesting disposition.

Darryl Hannah plays Annelle the 19 yr old beauty shop assistant. That has left her husband and becomes very religious.

Olympia Dukakis plays the role of Clairee who is a widow and has quite the interesting friendship with Ouizer.

Money Implications:

There are different roles of money when it comes to marriage – paying for a wedding, parenting, health and even business ownership.

Money Tip #1:  Weigh the consequences of all financial decisions, short and long-term consequences.

Money Tip #2: When you are an entrepreneur, be sure to include your spouse in business plans and financial decisions.

Money Tip #3: If a spouse is having a hard time finding work, do not rub it in. Talk with them about their dreams and see how you can help them. This affects the bottom line.

Observations:

Truvy loved her husband and tried to bring some holiday cheer into their home. Even when finances are tight, you can still celebrate your marriage, love and coming out of financial challenges.

Annelle shows up in town after having left her husband, she did not have anything. No job, no car and has to make a new start. Make sure that you both are involved in the household finances so that if something happens, the other spouse can carry on with life.

Recommendations:

1) I cannot stress enough think “BIG PICTURE”. What is it you would like to accomplish?

2) Do not let your marriage make you ungrateful for who you are and the life you live.

3) If you are in a second marriage, do not compare your current husband or wife to your ex. That is a costly mistake.

4) Continue supporting your husband and wife even in difficult times.

THIS IS A MUST SEE MOVIE.

postheadericon Marriage and Money Movie #13 – Waiting to Exhale

This is one of my favorites – the story of four women that have their individual stories that deal with professionalism, parenting, marriage, a divorced mother and single woman seeking a man. One of my primary  reasons for including this movie is because there are varying dynamics that warrants its inclusion. Each character: Savannah, Robin, Gloria and Bernadine have great story lines.

These women share each others triumphs and struggles throughout this movie. Savannah was the professional, single woman that did not let her “single status” keep her from reaching her goals.  Although her mother felt every woman “NEEDS” a man. Robin was the professional, single woman that had been burned by men so much that she did not look at them the same. Furthermore, she had lost her self-respect but gained it back in the end. Gloria was the divorced parent that owned a hair salon and who had almost cut herself off from relationships because she had gotten used to spending time with her son that was graduating from high school. She does have an interest in the widowed neighbor. Lastly, we have Bernadine who was married to a professional and mother of two children. When Bernadine wanted to start a business, he told her it was not the right time. So she put everything she had into building his businesses. Strongly recommend you watch the entire movie.

Money Implications:  I am going to do this based on each character:

Savannah – she had money and still had some degree of difficulty in who she was as a person. Her mother had limited finances and was attempting to keep it from Savannah. Once Savannah found out, she wired the money for her mother. 

Robin – she lived somewhat comfortably but was settling for mediocre men. Had a great job and clearly was making money but what she thought about herself was reflected in the men she dated. Did not really value who she was until the end of the show.

Gloria – the entrepreneur of the group. She appeared to be doing well financially.

Bernadine – the true “lesson” in this group. Do not put everything you have into your spouse. This lady was not aware of what the husband had been doing regarding putting EVERYTHING in his name. Once he decided he wanted a divorce, initially it appeared as if she was not going to get anything.

Money Tip #1:  Having money does not mean you cannot have financial problems in your life.

Money Tip #2: If you are an entrepreneur or seeking to become an entrepreneur, do your homework. What type of business are you seeking to start, what are the start-up costs, who is your target audience, can you start this business without taking money from the household budget and another major statement that you cannot ignore: If you are married, talk with your spouse before starting a business especially if it will impact your time and family finances.

Money Tip #3: This applies to the husband and the wife – share with each other about the household finances. Do not let the money manager be the only one that is aware of all the bank accounts, how much money is in each account and when the bills are due.

Money Tip #4:  Husbands and wives do not get lost in the marriage. Meaning put everything into the one person where you have no self-identity. That costs you in the long run.

Money Tip #5: Husbands and Wives – stay faithful to your mate and do not even think about the grass on the other side. It does not matter who attempts to flirt with you.  Based on a lot of stories in national news  and facts – people that enter into infidelity are paying a “HEAVY PRICE” and sometimes it is their life in addition to money.

Money Tip #6: For single parents, if you are not getting the child support that you are due it is up to you to decide what action you are going to take. Also, recommend that you create great memories every day with your children. Creating memories does not necessarily have to involve a lot of money.

Money Tip #7: For the new single parent, when it comes to money – take the time to sit down and detail your new household budget and expenses. This will show you what you need to run your household from month to month.

Observation:  Money impacts lives in many ways and should not be ignored. Take the time today to look at the roles money plays in your life.

Recommendations:  I know there are times when we as women vent to our girlfriends about our spouses, what I want to say on this is take the time to talk with your husband about your finances and issues you are facing. The two of you are on the same team – solve the situation together.

For the single parent, ensure that you find out all of the resources available to you through different organizations that assist single parents. Some could be local and there could be some that are on the internet. Do your research.

For the newly divorced spouse, pull yourself together and know that being single does not define who you are. Think about what you want to do with your life and what example do you want to set for your children.

Add this to your movie collection today:

postheadericon Money and Marriage is My Ministry

Money and marriage are near and dear to my heart because this is what I live.  I am the person that came to their marriage with financial baggage and maybe different than you I did put it on the table. As a matter of fact, so did my husband. We both came to our marriage with financial baggage and we are both Christians. My husband and I are a happily married couple of 13 years that know from our own experience how to be successful at money and marriage.

When it comes to dealing with financial baggage which can be anything from  – slow pays, homelessness, debt, bankruptcy, cleaning up credit, family and money, becoming parents, job loss, spending, student loans, bad credit, business decisions affecting finances and relationships – we have experienced it.

When I say this morning, Money and Marriage is My Ministry,  it is a ministry for me that I do not take lightly. I thought back to when I was interviewed by US News and World Reports – a question she asked was does faith impact money? I had soooo much fun answering that question because it does when you are a Christian, believer.  I am here to listen, then encourage and provide solutions that work to:

  • Couples that are in church whose finances are funny and they do not understand but do not think they can reach out to anyone for help because they believe they will be judged or their situation will become church staff gossip

 

  • Couples who are embarrassed to even say we have made wrong decisions and want to get our money and marriage right. We don’t want money being a reason we get divorced.

 

  • Individuals who are tired of making wrong financial decisions but need help in cleaning it up.  

 

  • Anyone that want help in the area of money and marriage without judgment and condemnation. 

 

  • The person that has fear when it comes to money.

Regardless of what you think, you can come out of financial frustration today. As far as I am concerned, Christian Marriages should be setting the example for those not of faith and encourage them to want to be a Christian. But I know that is not what has happened.   

It is time to equip Christian marriages with life skills to sustain marriages and not let them be a divorce statistic.  Let me address this – do you have to be a Christian to contact me? No, you do not and I will continue to provide you with solutions based on what I know works. 

Christian or not, when you are given solutions it will be your choice whether or not you utilize the information and move beyond financial frustation and begin the path of financial independence.

postheadericon Marriage and Money Movie #9 – Why Did I Get Married

What I thought this movie was going to be about and what it actually was about are two different things. This Tyler Perry movie is another great movie. Let me share a brief glimpse. Based on four couples that would get together every year, they had discussions about marriage, did exercises and rejuvenated their marriages per se. This year when the couples get together, many things transpired. The couple that I want to focus on is Angela and Marcus. Angela was a wife that had a lot to say and made sure that Marcus knew it. She would say to him I am the one, it was my money that started the hair salon where you work. She would say to him will you pay the mortgage, pay for the food, do something. Angela was the kind of woman that was very demeaning to her husband. It did not matter to her public or private, she did it all the time. On this weekend getaway secrets come out on the first morning and that spoiled the entire weekend for everyone. Later on Marcus has had enough and finds his voice. He reveals that it was HIS MONEY that started the salon.

Money Implications:

Clearly this movie had money and marriage implications throughout. All the couples had attended college and became exactly what they said they would. The only person that did not was Sheila. However, Sheila put everything into her husband, like so many other women have done and others continue to do. He took all of her money and left her with $87.00 . You will have to watch the movie for more on Sheila.

Money Tip #1 – Do not get so wrapped up in your profession that you forget to take time for each other. Pamper each other and have fun.

Money Tip #2 – There is no benefit to embarrassing your spouse if you paid for starting a business they always wanted. It should be joint funds anyway. When you invest in your spouse, you are investing in your relationship long-term.

Money Tip #3 – Do not talk down to your spouse and demean them.

Observations:

1) Secrets that eventually get revealed can tear down a marriage. Do not let someone have negative information on you that they would blackmail you with. Make sure there are no secrets from your spouse.

2) If you have financial secrets, it is better to get them out on the table prior to the spouse finding out in a way that you had not planned. This leads to distrust in the relationship. Know that is hard to get trust back once it is lost.

Recommendations:

1) Money and marriage do not have to be difficult. People make it difficult based on their believes, past experiences and lack of information.

2) Establish mutual financial goals for your marriage.

3) Support your spouse if he or she is an entrepreneur. Ask them about their business and offer to assist if necessary. Your being supportive of them affects their success.

This is a must see for any married couples’ movie collection. Grab your copy here:

If you need a money and marriage advocate to come and speak to your audience on money and marriage, contact Dr. Taffy at drtaffy@moneytalkmatters.com .

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