#MoneyChat Blog!

Earning Extra Cash! #MoneyChat'ers Share What Works!

2012-02-02T07:03:00.000-05:00

Even if you have been fortunate enough not to have ever faced a financial emergency (WOW), at some point in all our lives we've needed to increase our income for one reason or another. It could have been to cover our monthly bills, get out of debt, go back to school, plan a vacation, etc. On Monday night's #Moneychat we shared what has worked for us when times get tight. Check it out..

@learntech I had a typing service. I made a KILLING typing papers for MBA & nursing students. #moneychat (Wow - I forgot I did this too! You can charge $1.50 - $2.00 per page!)

@Crystalh8725: #MoneyChat I know this is old fashioned but I do sewing and tailoring!

(not old fashioned at all - people still need these services! Great skill to have!)

@iammsparker: http://Elance.com is a great site. I know a few people who have earned good $$$. #moneychat

@learntech Put your lawnmower & blower to use by doing a little neighborhood yard work. #moneychat #moneymakingideas

@kevettechats A good way to make extra money is by crafting. People are always looking for unique personal gifts and you may find a niche. Also if you know how to put together a good resume you can do it for others. Some people would just rather not do it themselves. #moneychat

@LatoniyaAJones Serving at a friend, colleague, or others' party adds pizzazz and a little cash! #moneychat

@OurMochaMoney I used to troll thrift stores for books to resell on Amazon. 'Friends of the library' sales are also great place to find great books to re-sell #moneychat

Reselling thrift store designer handbags and clothes on Ebay is also quick way to make some $. Quick tip - thrift workers usually have area in back where stuff is sorted. Here is where all the Ebay "entrepreneurs" wait so they get the first crack at the 'good stuff'.

@rj1975 I must agree. Setting up shop with EBay or Amazon could be easy money. Just be aware of shipping costs #moneychat

~~@DWesterberg:~~ I think freelance work has much potential - offer a try & buy - target potential customers. Do micro marketing - watch a business: web, social media, content, optimization, etc. and make a suggestion w/offer to help. Important to know what you're competing against (e.g. pricing, quality of work) and articulate your competitive differentiator.

@learntech Good at math? Good with kids? Tutoring in #STEM subjects can make you $$$ #moneychat #moneymakingideas

@Derschaun has done voice overs and background singing #moneychat (she did a voice over on a project for me too, she's great!)

@CardHelp:#moneychat seriously, little things: brew your own coffee- save $60/month. Put that in savings. Rechargeable batteries, etc. Find out when trash day is in rich neighborhoods. People throw out perfectly good stuff you can resell. I've done it!

@OurMochaMoney If you know Wordpress, Excel, Photoshop, etc. there are people who would pay you to teach them those skills #moneychat

@iammsparker Babysitting sill works. Parents or a single parent who need a night out for themselves. Watch their kids Sat. night & earn $$.

@MoneyChatLive I also recommend overnight babysitting - kids sleep, parents pick up after work in a.m. #easymoney #moneychat

@iammsparker Ohh! Paid experiments or focus groups are a great way to make xtra $$. I did that ALOT in college. Paid my cell bill w/ it. #moneychat

@Crystalh8725: #moneychat I did a post on focus groups! http://bit.ly/wytuSC

@DWesterberg #moneychat I've done babysitting, piece meal assembly work, after-school pickup & dropoff, retail - all easy to do when bigger goal in mind.

(That's right, no time for pride, only time to MAKE IT HAPPEN!)

@learntech: Something else you can do is offer a good deal to existing clients. ex., Pay for 3 months, get 1 free #moneychat #extracash

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Alright, enough from us - what have YOU done to earn extra cash to reach a goal? Disclaimer: No spammy stuff please, thanks ~mgmt~.

Why don't YOU join us every Monday night 8-9p. ET for #MoneyCHAT! Real talk about money and biz!

Your Financial Coach!

-Dorethia

www.connercoaching.com

On Twitter? #Follow: @DorethiaConner & @MoneyChatLive

A Chat with Alisa T. Weinstein, Author of 'Earn It, Learn It'

2012-01-28T07:11:00.000-05:00

I'm an avid reader, especially of financial/biz related books. When I read Alisa T. Weinstein's, Earn, It, Learn It - I knew I had to have her share with the #MoneyChat family!

It is the coolest book I've read that assists parents with teaching kids about careers in a way they actually want to learn - HANDS ON! Kids learn about money and careers; while also enjoying the quality time with parents as they do the various career explorations together. I love it and definitely recommend you share with the kids in your life! ~ Dorethia

In Earn It, Learn It’sintroduction is titled Battle of the LipBalm. I know there’s a good story there.

[BIGLAUGH] It’s now Weinstein family legend. I was in Target with Mia, who was fourat the time, and she wanted another Lip Smackers lip balm. She had too many ofthem as it was, but she had to haveanother. In my exasperation, I told her to “Get a job!” so she could pay for itherself. And this light bulb went off. I decided she was going to have a “real”job with a “real” task and earn her money the same way adults do.

She chose tobe a market researcher, like her dad. With his help, she surveyed friends andfamily about their favorite ice cream flavors, created a pie chart andpresented her results to me. Then I paid her. It was so much fun—so educationalwithout feeling that way—that we all wanted to continue with new careers!

So you started with market researcher,but the book has 50 careers. How did you jump from the one career to an entireprogram?

It wasmarine biologist that did it. Mia was a few careers in when she asked to besomething I knew nothing about. And while there’s information online about whatmarine biologists do, I couldn’t find anything that described how they do it. Ineeded outside help. So I worked with 49 professionals—like a chef, aninvestigator, a toy designer and, yes, a marine biologist—who told me what itis they do for a living.

I then translated their daily tasks into the more than950 kid-friendly tasks in Earn It, LearnIt. Families pick a career and a task, kids do the task, and then get paidfor their efforts on Payday.

This sounds different than otherfinancial literacy programs. Why do you think that’s so?

BecauseEarn My Keep starts at the beginning. Most financial literacy programs startwith what I call the Part II: the spending, saving and giving. Regardless ofhow children get money into their hands (by chores, odd jobs or a string-freeallowance), focus has been on what to do with money once it’s earned.

Earn My Keep,however, starts with Part I: how adults earn money in the first place. Byexperiencing the beginning of the fiscal process, children are more likely tograsp how the real world works. Plus, kids are exposed to science, math, artand manners. They foster self-motivation and self-confidence. And one of myfavorites: they learn to appreciate how hard Mom and Dad work to provide thethings they want and need!

Some say four is too young an age tostart learning about money…

Not even remotely. By age four, many children know what money is. Theydon’t know where it comes from. They don’t know where we keep it. They don’teven know to question where it comesfrom or where we keep it! But if your kid has ever had a “gimmies” moment, he’sready to learn how money works. And the earlier we start teaching, the morenatural the experience will be. That said, it’s never too late to learn. EarnMy Keep works from age four all the way up to 12.

A lot of parents pay their children fordoing chores. Where do they come into play?

I’velong felt chores get a bad rap. But chore completion is a great way to preparekids with basic life skills. It’s also an important tool in creating ateam-like family unit—“we all live here, so we all pitch in.” But I do notbelieve that kids should be paid for them. Adults don’t earn money for makingtheir own beds, so it’s not realistic. And it reinforces the message that workisn’t fun. So my children earn money for their Earn My Keep tasks, only.Knowing, however, that this is a very personal family decision, it wasimportant to me that the program worked with or without paying for chores. So,it does!

Can you identify the best part aboutthe Earn My Keep method?

[REALLYBIG LAUGH] When my very first video about Earn My Keep was edited, I noticedthat I started almost every sentence with, “The best part of Earn My Keep is…” And every time I named somethingdifferent! It’s easy and fun. It’s expert-approved. It’s an amazing way to packa whole bunch of parenting priorities into a really hectic schedule. But at theend of the day, I think my favorite part is that it teaches kids that the workwe do can be worth more than the numbers on a paycheck. It helps them learn tolove work for the sake of work. And it doesn’t get much better than that!

READERS: What about you? What methods have you used to teach your children or classroom about careers, chores & money?

Alisa T. Weinstein is the mother of two;author of Earn It, Learn It: Teach YourChild the Value of Money, Work, and Time Well Spent; and founder of Earn MyKeep—the first and only program that allows kids to earn money by having “real”jobs. To purchase the book and other fun Earn My Keep merchandise, explore Alisa’s informative, family-friendly blog at earnmykeep.com. You can connect with Alisa on Facebook and Twitter

#MoneyChat Credit Series: CREDIT CARDS!

2012-01-26T07:04:00.000-05:00

If you have been following me for any length of time - you know that I am anti-credit card. Not in a - you're 'stupid if you have them' kind of way, but more like 'it's not worth it'. After finishing the research on my college thesis on consumer debt, I remember being blown away at what I'd learned about the history of credit cards. I thought, if most people knew the marketing scheme and government collaboration behind getting consumers to use credit cards, we'd all be up in arms. I know, conspiracy theory sounding, but it is true. At any rate, knowledge is power and that knowledge sealed the deal for me.

Below, I've posted a portion of the transcript from our 8-9p Monday night Twitter chat, #MoneyChat, on the subject. Were you there? If not join us sometime! There was lively conversation and a couple of credit card advocates tweeting as well - no problem, it's healthy to see all sides of a topic... enjoy.

Q1. Do you believecredit cards lead to spending?

It’s proven that people spend more when they are usingcredit cards – *18% in fact. It makes sense - when times get tight, who wouldn’t lean on creditcards, thus causing more financial strain. We always plan to pay it back right away, but, well...doesn't often happen. Spending cash brings more of a reality to what youhave/don’t have than credit cards.

Q2. Why would I giveup my credit cards when I get so many perks?

By the time you pay the interest on what you spend to getthe perks – you could have bought your own flight, hotel, etc.

Q3. If I dump mycredit card can my debit card really replace it?

Yes, you can do everything with your debit card – aslong as the money is in your account. Remember the key is to get out of debt, you can’t do that by maintaining credit cards. I understand the 'leave it open, just don't use it' theory, but it’s almost like looking at your favorite dessert sitting in front ofyou all evening – eventually you are going to take a bite.

I travel, reserve hotels, cars, conferences, etc. with my debit card. I have only encountered 1 or 2 occasions where they wouldn't accept my debit card and I enthusiastically took my business elsewhere!

Q4. But are debit cards as safe to use as credit cards?

Yes they are. Otherwise, if anyone would be leery it would be me. Twice, when traveling, my debit cards were stolen. It didn't take long for the thieves to fill up several tanks of gas, hit a couple of restaurants and ice cream shops (yes, ice cream) and order a couple of expensive cell phones - all on me - in under 12 hours!

I reported my debit cards stolen and received all my money back within a week.

Q5. Does closing youraccount lower your credit score?

Yes it does – but if you aren’t planning to borrowanything in the next year you will be fine. If you do expect to make a purchase, pay it off andkeep it open until after you do. Then close it and never look back. You know, that pesky getting out of debt goal... yeah, that one.

Helpful Tools:

Why don't YOU join us every Monday night 8-9p. ET for #MoneyCHAT! Real talk about money and biz!
Your Financial Coach!

-Dorethia

www.connercoaching.com

On Twitter? #Follow: @DorethiaConner & @MoneyChatLive

Three Financial Tips for Single Moms! by Murray Newlands

2012-01-17T07:15:00.000-05:00

Today we have a guest post from my friend Murray Newlands. Murray and I had lunch together at the Financial Bloggers Conference #FINCON12 and chatted it up about money management, blogging and... oh well, I won't bore you. In addition to blogging about finance, Murray and his company, Influence People, conduct blogger outreach for a variety of clients interested in creating a presence online. Now, on to the post!

Many hard working single mothers (do I need to even say thatsingle mothers work hard!) across the country constantly find themselves indire financial straights. Women stillmake less money than men. In 2010, the average woman made 77cents for every dollar the average man made. The average African-American womanmade only 68 cents for every dollar a working black man made, and the gap dropsto 58 cents per dollar for Hispanics. This means that single working mothersneed to save money wherever they can, whether it’s on autoinsurance, luxuries, or even basic necessities like food and clothes.

This means that single women need usually need to manage theirfinances better than single men. Since they make less money, there is less roomfor error and they need to make sure their children see more of their paycheckevery two weeks. That is why I am sharing three financial tips for singlemothers:

Tip 1: Get a creditreport

Getting a creditreport can help you evaluate your overall financial situation and checkfor any fraudulent activity. Remember that you will need to order your creditscore separately from the report. Knowing your score and what debts areaffecting it will allow you tostrategize on ways to increase it your score.

Tip 2: Look at allyour insurance options

Many workplaces offer multiple options of insurance for theirworkers. Many of the more expensive options are designed for large families.So, if you only have one kid and nobody else lives with you, you might be ableto go for the cheaper option. Just make sure to read all the small print sothat you know how much you're covered. Many insurance options have yearly capsand it can be easy to go over those caps if you select the wrong plan.

Tip 3: Cut out thelittle things

Cable can cost inexcess of $130 per month. iPad data plans can cost as much as $30 per month. Doyou really need internet on your iPad, your phone, and at home? Figure outwhere you go online the least and cut that plan to save money. You can then usethat money to save for your kids' college tuition, buy food, and clothing.Also, food is a great place to save money on: learn about nutrition, and cutout junk food and TV dinners. Replace them with wholesome, healthy ingredientsfrom which you can make your own meals. It might take a bit longer, but it isworth it for your kids, your health, and your pocket book!

Until next time...
-Murray

#MoneyChat Credit Series: 5 Tips For Fixing Your Credit Report!

2012-01-11T07:00:00.000-05:00

Did You KNOW? When you pull a credit report – you don’t getyour credit scores, you get a listing of your outstanding and paid off debts, creditinquiries, various addresses, etc. Credit scores used to come with your reportin the olden days – now you have to pay for it separately. Yeah, I know…#racket. .. .now on to your tips!

1. Watch for credit repair scams

There are manyscams out there claiming to help you ‘remove’ debts from your credit report –debts you actually owe. Don’t fall for it – the debts will remain and you willbe out of a few hundred dollars. There’salso no such thing as having a second credit ‘record’ create for you – don’tfall for it.

Anyone who’spromising to ‘wipe away your bad credit’, remove bankruptcies, etc. are goingto take your money and run. Even if they aren’t promising the world, but claimto help improve your credit score for a fee – don’t do it. You can negotiatewith your creditors yourself. It is a hassle, they can be rude and it can beemotionally draining – but you can do it. It won’t cost you an arm and a legeither.

2. Check your credit report every 6 months.

It’s importantto make sure you know what is on your credit report. You get one free per yearfrom each of the reporting agencies. You could actually get three separatereports at different times of the year. They all basically have the sameinformation – get one every 4 months from Transunion, Experian or Equifax. Ifyou find incorrect information on one – you can send corrections to the otherswithout paying for another report from that particular agency

Guess what - Ifyou’d like to add an explanation for creditors you can do so by mailing a briefnote to the credit bureaus. Keep it brief and to the point so it will actuallybe read.

3. How do I dispute items that are incorrect?

Oftentimesthey’ll get your name wrong, address, apartment number wrong. Better yet, theamount you owe may be reported as more than the actual amount or a bill thathas been paid off, still listed as open. Once, they listed one of my family members asmy husband! Being that I’m not married, not sure where they pulled thatinformation from.

Write each ofthe bureaus when you find an error on any of their report – so all three cancorrect if need be. Ask them to make the correction and send you confirmationof doing so. You may have to go to the lender first, get written proof ofpayment, then mail that to the credit reporting agencies.

4. Confirmation, Confirmation, Confirmation!

I still likesnail mail confirmations of payments. I don’t want any misunderstandings whenit comes time to prove I paid a bill off. That said, there’s nothing wrong withan email confirmation if you are comfortable with it. Just make sure that onceyou pay off a bill –you ask for a WRITTEN confirmation of payment & thatit’s reported to all 3 credit bureaus. If you do use email – make sure you havethe employee/manager’s contact information in the body of the email in case youever have to dipute the payment.

5. Time is On Your Side.

If you have alow credit score – give yourself 2 years to see it make significant improvement.That’s 2 years of paying your current bills on time, making arrangements/payingoff debt and not incurring new debt. After year 1 you will see greatimprovement and in 2 years, should be on track to the score you desire. Ofcourse, if you have had a foreclosure, bankruptcy or other major financialemergency, it may take a little longer, but you will still make progress.

There’s no needto watch your score every month – it will be like watching paint dry. Set atimeline, stay on track and check a few times per year.

Why don't YOU join us every Monday night 8-9p. ET for #MoneyCHAT! Real Talk about money and biz!

On Twitter? #Follow: @DorethiaConner & @MoneyChatLive

#MoneyChat FAM Shares Quick Financial Tips for 2012!

2012-01-04T07:02:00.000-05:00

We can always rely on the #MoneyChat community to offer great advice based on their experiences - and that's what it's all about. Here are a few quick tidbits that will help you in 2012!

@Preach112 The Clue From Leu!

Tell everyone to beware of the 'Timeshare Trap'! Unless youbuy them outright, the amount you end up paying is almost double what youfinance! They make it so attractive with a low down payment and very lowmonthly fees ... but please beware. When I saw the amount I still owed - and Ionly used it maybe 3 or 4 times .. Crazy!!!

@DWesterberg DawnWesterberg.com

My financial tip would be to urge people touse CDs as one plank of their savings plan. Many Credit Unions have$500 minimums (compared to the much higher minimums of commercial banks). Each month orquarter (based on what you can afford) buy a $500 CD.

The longer theterms 5 year vs 1 year, the higher the interest rate. Often the interestrates on CDs are slightly higher than interest rates associated with regularsavings or money market accounts. I like to buy a 5 year CD every month. At the end of one year that translates to $6,000 (plus interest) insavings. At the end of 5 years that translates to $30,000 (plus interest)in savings. You can designate beneficiaries for each CD. So if you wouldlike to designate sons, daughters, nieces and nephews – it's a way of providingan inheritance.

At the end of the term, you can either cash out or letthe CD roll into another term. If you start this routine early in life, a5 year CD could roll multiple times and be available for a future majorinvestment or as a supplement to retirement income.

@Kathy Zucker MomCondoLiving.com

Take a look back at 2011 expenditures and calculateyour regular expenses (ie. food, rent & utilities).
Take the remainderand figure out what you will need for 2012 discretionary goals (ie. vacationcosts or hospital bills for a new baby)
Add on a 20% premium forunexpected charges since you are dealing with unfamiliar territory. There areall sorts of variables that can throw a monkey wrench inyour finances; better to err on the side of safety.

Also think about long-term goals (ie. college savings)but expect up and down years; don't get discouraged! Read reputable publicationslike the New York Times and Wall Street Journal to figure out what to expect.For example, the Ivy League is now offering financial aid to families whoearn up to $180k per year for college tuition. Reading papers, websites, etc. like these allows you first access to personal financial information such as this.

Thanks for sharing guys! Why don't YOU join us every Monday night 8-9p. ET for #MoneyCHAT! Real Talk about money and business!

#Follow

@DorethiaConner @MoneyChatLive

2012 Must Have Personal Finance and Business Resources!

2011-12-27T07:03:00.000-05:00

I've been enjoying my holiday 'vacation' ... working on THE DEBT BOOK, writing articles... and of course kicking my heels up a bit with parties and family. So there was no #moneychat this week and none next Monday either as the vacay continues.

But we are preparing you for the new year with our 2012 Must Have Personal Finance and Biz Resources! Here's Part 1...

What are you reading? Black Enterprise, Money & Inc. are my top magazine reads each month.
#Follow @learntech and visit http://www.probiztechnology.com/ for #tech tips!
Planning for self/business improvement? What Conferences Will You Attend? http://bit.ly/sfEi2l
My favorite #moneychat blog – besides my own … lol.. @wisebread www.wisebread.com.
My friend @Tamekia4pr suggests ‘Succeeding Against the Odds’ the autobiography of John H. Johnson http://amzn.to/tJNT9l #2012
Need more than pen & paper to manage your finances/investments? Check out @adaptu www.adaptu.com. Disclaimer – I write for them.
Smallbiz owners – your LIFE is busy, get a housekeeper, a cook; for your biz – get a Virtual Assistant if a full time assistant isn't in the budget.
Also - smallbiz owners create a serious/achievable marketing plan for 2012 - then put some cash behind it!
Do you have a kid headed for college? Check out @ZacBissonnette’s Debt Free U http://amzn.to/rFFKOj.
Authors, freelancers, smallbiz - Get squared away with @Square credit/debit card reader – accept payments from your cell phone! http://bit.ly/vSqz2H

And of course - if you are ready to take your personal finances and business to the NEXT LEVEL in #2012 - let me help you with that!! Visit http://www.connercoaching.com and let's get YOUR session scheduled today!

Here's to MAKING IT HAPPEN in 2012!!!

- Dorethia

Tune in to #MONEYCHAT!!

On Monday nights I (@DorethiaConner) discuss all things money & business! That's right, you can 'tune in' to our weekly Twitter convo #MoneyChat (@MoneyChatLive) held from 8pm-9pm ET and add your two cents or common sense!

#Follow

@DorethiaConner @MoneyChatLive

Financial Folly...

2011-11-28T07:03:00.000-05:00

A young college student came running in tears to her father. "Dad, you gave me horrible financial advice!"

"I did? What did I tell you?" said the dad.

"You told me to put my money in that big bank, and now that big bank is in trouble."

"What are you talking about? That's one of the largest banks in the state," he said. "there must be some mistake."

"I don't think so," she sniffed. "They just returned one of my checks with a note saying, 'Insufficient Funds'."

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Pete and Gladys were looking at a new living room suite in the furniture store.

Pete says to the salesman, "We really like it, but I don't think we can afford it."

The salesman says, "You just make a small down payment... then you don't make another payment for six months."

Gladys wheeled around with her hands on her hips and says, "Who told you about us?!"

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I was in small-claims court when I listened in on the case of a woman who held a good job but still had trouble paying her bills on time. “Can’t you live within your income?” asked the judge.

“No, Your Honor,” she said. “It’s all I can do to live within my credit.”

- Ralph Warth, Readers Digest

Smart Spending on Your Kids For Christmas!

2011-11-23T07:00:00.000-05:00

Alright parents, you are in for a treat! Every Monday as @MoneyChatLIVE I interview experts during a weekly Twitter Online convo, #MoneyChat, held from 8pm-9pm est. This post pulls the highlights from our #MoneyChat guest,teen/tween money coach, The Conscious Spender - @ShareekeNesi! She shares some holiday wisdom when it comes to spending on our kids. VISIT The Conscious Spender! - www.theconsciousspender.com

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1. What can I do to help me avoid overspending on my child?

First, one of the best steps to avoid overspending on your child is to check your emotions at the door.
Most spending decisions are made on emotions. Second, create a holiday budget before you go shopping - assign a dollar amount that you want to spend on each child. This will set your spending boundaries.

2. How do I talk with my child about my budget and Christmas?

Setup a family night. Have a conversation about the family financial spending limit for Christmas. Discuss
the family financial goals like, music lessons, school trips, vacations etc. This is a great segue to discussing the meaning of Christmas and other factors with your child, such as the fact that Christmas is not just about buying or getting items. Share the real meaning of Christmas. This will help them understand the set budget.

3. What criteria do I use to determine if my teen gets an expensive gift?

Does the item fit within the budget? First, determine if the item is a Need or a Want. Second, decide whether you believe the item has value to your child. Buying an expensive gift is not a bad thing, if you can afford to buy the item and it has true value. A laptop or iPad can be considered expensive gift items, but they are equally important things that can assist your child with his/her schoolwork. Remember it is okay to purchase a Want if it fits within your financial guidelines.

4. If my child gets money for Christmas, should I let them spend it all?

Absolutely Not! As with all other monies received, Christmas money should be divided into different jars. Some of the money should be saved, some of the money should be set aside for investment purposes and some of the money should be donated. The balance is what they spend.

5. My teenager doesn't want to do any charitable family activities this holiday - should I make him/her?

I believe it is important for you to set the example for your child. As a family, give back to others. Show your gratefulness and desire to help others in need. Make the decision that the entire family will participate in the activities. Trust me, your teenager will see the true value in the end.

6. I want to give D.I.Y gifts for the family to share? Is that too cheap?

Of course not! D.I.Y gifts are the most meaningful gifts you can give. Homemade gifts are a great way to allow children to show their creativity. Don’t forget this is also great family time. One strategy may be to have each child list 3 things they really want, you buy one off the list and the entire family also exchanges D.I.Y. gifts. This saves the budget and allows you to add a fun family tradition.

Shareeke Edmead-Nesi is a family financial literacy expert, who teaches families the fundamental skills, such as saving, investing and donating. She specializes in teaching tween/teenage children the art of understanding and mastering their money at a young age. She creates and operates "money camps" for children and provides professional portfolio management and holistic financial planning services to families, companies and organizations through her blog, articles and presentations at conferences.

Follow the Conscious Spender! http://twitter.com/shareekenesi - www.theconsciousspender.com

Beyond Scholarships - Start Early To Reduce Tuition Costs!

2011-10-19T19:11:00.000-04:00

Every Monday as @MoneyChatLIVE I interview experts during a weekly Twitter Online convo, #MoneyChat, held from 8pm-9pm est. This post pulls the highlights from our #MoneyChat topic on Tuition Reduction! Strategies Beyond Scholarship Hunting. Our guest poster is college funding expert, Jeff Taylor (@YourCollegeDoc). Jeff coaches and speaks nationally on alternative, strategic college funding techniques that can begin as early as junior high school! Please visit www.tuitionreductionplan.com for more information. Here's to debt-free college for your kids!

Commonchallenges parents/students face in looking for college funding...

Looking for money is a flawed idea because itfeeds into the myth that searching for money will solve your funding problem.The majority of those that follow that idea find themselves disappointed.

Do high school athletes search for money? Dohigh school high achievers search for money? No!!! So then why should you? Thereason why these two groups receive funding year after year is because they arefollowing a system that leads to funding. While the average student is hangingout with friends, the student athletes and the honor students are working ontheir talents, projects, and building their resumes. Then when competitiontimes comes around they shine and then those schools or funding sources findthem! The money follows achievement and marketing. Money is not given but awarded.

Learnthe funding process and maximize your opportunities.

There are a variety of factors that need tobe considered, here are two that should be at the top of the list.

The largestand easiest dollars to access come directly from the universities and not fromprivate sources.

a. Before you oryour child allow yourselves to become inflexibly persuaded that you absolutelymust attend a particular college, make sure that your child exceeds the scholarship requirements ofthat school.

b. If your childdoes not qualify then that is a clear indication that that university may notbe in your best interest.

Strategicallydiversify your college selections based on the same criteria above. Sincehigh GPA and test scores may not be enough to obtain a scholarship or admissionfrom your 1^st or 2^nd choice schools, select at least sixcolleges where your child can confidently compete for funding.

Keep in mind that colleges typically arelooking for the parent and student to share in the cost of college. 100%funding is very rare. Be prepared to pay for a portion of your child’s collegecosts. Whatever you do, pay the least!

Quick Tip:

Keep in mind that the student is required toreport any and all private scholarships awarded on the FAFSA. Unfortunately, thecollege may cancel a scholarship that they have awarded in lieu of the moneythat was received from a private source on a dollar for dollar basis.

Parents and students are also making college decisions based onflawed information - here are some of the statements that I hear:

Flaw: My childqualifies for independent student status because he/she has a different addressthan me.

Fact: Independent status is based on federallymandated rules. A separate address and the opinion the opinion of the parent isnot one of them.

Flaw: My childqualifies for independent student status because he/she has a different addressthan me.

Fact: Independent status is based on federallymandated rules. A separate address matters not.

Flaw: Low income qualifies for a 100% funded college education.

Fact: Low income alone does not guarantee anything, each award basedon individual situation.

Flaw: The financial aid office will give your child money.

Fact: Colleges do not give away money, but they will give you and yourchild student loans. (OUCH)

That's enough to get you started.. stayed tuned for Part II...

Your College Doc,

Jeff Taylor

@YourCollegeDoc

www.tuitionreductionplan.com

Top 10 Money Tip$ For Authors...

2011-10-17T07:03:00.000-04:00

" I never had any doubts about my abilities. I knew I could write. I just had to figure out how to eat while doing this." ~Cormac McCarthy

When you decide to write a book, begin putting money away each pay for marketing, publishing, touring expenses - don't wait until the book is finished. Partly because you will have to market the book long before it is completed. Immediately create a list of all expenses you may incur and begin to fund them.

Don't let the cost of your book project delay you. Keep going, pay for each expense in bits.

Ex: The editor you chosecharges $5 per page, your book is 150 pages which means you need $750 for youreditor. What can you do to earn thatamount outside of your day job? How much can you set aside from your paycheckuntil you reach $750? Maybe you can pay your editor in 3 installments, sendinghim/her the book in 3 pieces, etc.

Once that's done, tackle thenext- cover design, book tours, etc.

When you get a book advance - hold on tight – don’t spend it, it has to last a long time! You will probably end up spending it on marketing, so please keep your day job to pay for living expenses! Have a separate account for your book business, do not mix personal and business money!

Pay your taxes, set aside at least 25 – 30% of every sale for Uncle Sam! Set it aside in a separate account just for TAXES!

Log all you’re your expenses – keep track of mileage, airfare, hotel – any expenses incurred as a result of creating or promoting your project. It’s important to keep your records organized, develop a filing system. This saves time and money – I know it may be a challenge, but like Nike – JUST DO IT!

Don't go broke trying to get to every book conference out there. Choose the most beneficial for your project, based on who you want to meet and what you want to accomplish by attending. Plan a budget for each one; include airfare, car rental, additional book orders, hotel, etc. so you are not strapped when it’s time to go. Ask experienced authors their opinions on various conferences to find out which ones are worth attending.

Write 3 speeches, talks, and/or presentations relating to your topic, genre, etc. Perfect them so you can get paid for speaking about your subject, the writing process, etc. It’s important to look at other revenue streams as a result of you becoming a published author.

With everything you will need funds for listed in these tips – please keep your day job! You will need the cash it provides to pay for your book project, keep your lights on, health insurance – you get the point.

Save the money for a good editor and cover design. I’m an avid reader and sometimes other ask me to review their financial or business related books. I’ve come across great book covers, horrible editing and vice versa. I’ve also seen where both cover and editing needed a complete revamp. If I buy your book and can’t get past the first chapter because of poor spelling, format, grammar, etc. – I won’t finish reading it AND I will tell the world how badly done it was. Now multiply me x the number of people in your audience. Word of mouth can hurt your book sales and speaking engagements – thus hurting your bottom line!

Don’t spend your profits. Profits = the money you keep after paying taxes and other expenses related to the book. Re-invest that money back into your book business to cover future conferences, book orders, travel, etc. You will probably need to do this for at least the first year. Eventually, this practice will also allow you to avoid having to dip into your personal finances as the book will be paying its own expenses. (Another reason it’s wise to keep your day job)

Alright - there you have it! Post your book project below so we can all check it out!

Your Financial/Business Coach,

Dorethia

www.connercoaching.com

Tune in to #MONEYCHAT!!

On Monday nights I (@DorethiaConner) discuss all things money & biz! That's right, you can 'tune in' to our weekly Twitter convo #MoneyChat (@MoneyChatLive) held from 8pm-9pm ET and add your two cents or common sense!

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Benita Tyler Biz Tips: One Rockin’ Tip I Learned on Getting Prospects to Buy

2011-10-06T21:16:00.000-04:00

Today I watched a video post by Mike Michalowicz. In it he offers a really great tip for turning prospects into paying customers. I liked the idea so much that I decided to continue the conversation here on my blog.

Mike is on point (as usual). Very good idea for entrepreneurs because there is no more waiting months or years to see if your idea is going to be a hit in the market. By asking the simple question that he suggests in his video blog, you will be able to instantly gauge responses from the people that are your ideal clients. His suggestion? Ask for a deposit up front if they like what you’re selling. This approach is about the buyer’s committment and decisiveness to take action. Since I am always looking for ways to help others increase sales and maximize profits here’s something that I also suggest. To make the Toilet Paper Entrepreneur’s idea even better create a prototype of your offering for demonstration purposes. This way you can have a physical product for prospects to see and if your idea fizzles instead of sizzles, well, you save yourself some time and money by not putting too many resources into product development.

I highly recommend that you check out Mike’s blog. He is the author of the Toilet Paper Entrepreneur and can be found at www.toiletpaperentrepreneur.com.

Until Next Time...

- Benita

Want more from Benita? Check out her website!

Benita Tyler: Tax, Accounting and Women Owned Business Consultant

www.tbsusa.com | btyler@tbsusa.com | 888.380.1112

It's MY Money!!! #Teens.. eh!

2011-09-08T07:01:00.000-04:00

You are trying to teach your teen financial responsibility, so you set standards for what they do with money. Yes, their money. Money they get from you, grandma, their job etc. I have yet to meet a parent who hasn't had to have the 'MY money conversation' with their teen...something like...

teen: i need to pull money out of my account for (some must have thingee)

parent: you spent all your spending money - all that's left is your savings.... which you aren't to touch

teen: i can put it back later, I really want (this must have thingee)

parent: no.

teen: i DON'T understand, it's MY money!

parent: blank stare (trying not to think of violent things)...eh

Here are a few suggestions to keep the peace and prepare your young person for financial responsibility.

Set a standard of give some (10% to any charity), save some (20%), spend some (budget) - in this order. This habit instills smart financial responsibility, don't just tell them - show them WHY you are teaching them this system. Have them read (short) financial articles, add money **apps to their phones, etc.

Make sure they set goals - what are they saving for? That makes the saving more realistic for them.

Let them manage their own debit card, balance their checkbook and keeping track of spending with a *check register or online banking. Show them how to do it 1st, 2nd time - 3rd time let them do it themselves and review. Teach them to set aside a regular time of month to do this, put it on the calendar.

*I know they won't be using checks - still recommend a register to log debit and EFT transactions. **Also - I don't suggest mobile banking for teens. Simple money budgeting apps are okay, but don't link to their actual accounts.

If you allow them to dip into their savings - hold them accountable for replacing the money. Remind them that saving is how wealth is created.

Allow them to SPEND their money - as long as they don't buy anything you don't allow in your home or aren't going crazy. Example - if my daughter only has $100 - I'm not going to let her buy $75 jeans. I'd explain that it's 75% of her income and she won't be able to buy anything else. (although, every now and then you might want to let them make this mistake for the lesson...)

Here's to creating a family legacy of wealth!

Your Financial Coach,

Dorethia

#Follow: @DorethiaConner @MoneyChatLive

#MoneyChat: How To Lose Your Job 101

2011-08-15T07:05:00.001-04:00

Tip 1. Show up late a couple of days or what the heck - every day each week.

Tip 2. Check your Facebook, Twitter and generally play on YOUR phone or work computer every 2 minutes

Tip 3. Make the standard answer to your bosses' questions:

'er.. I don't know'…

Tip 4. Bombard your boss with problems without offering solutions

Tip 5. Gripe and complain all the time, about everything, everywhere, whenever you get a chance

Tip 6. Spread and create as much gossip and rumors as you can.

Tip 7. Take long lunches, no one is watching the clock anyway right?

Tip 8. Lie on your resume about your skill set – definitely #loseyourjob!

via @rj1975

Tip 9. Get drunk at the holiday office party, complaining about nepotism when the owner’s kid is the summer help… via @DWesterberg

Tip 10. Don’t follow up on an assignment that your employer gives you

via @rj1975

@BenitaTyler and I agree that the point is – even if you hate your job – you need it. It provides the cash to pay bills, fund retirement, get out of debt, have a little fun sometimes, etc. Keep your job by bringing to work the attitude you want to have around you, excel in it = promotion and increase. Skip the drama and go the extra mile - it pays off. Even if it doesn’t - do it anyway until you can find a job you will love! #keepyourjob ;-)

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Tune in to #MONEYCHAT!!

On Monday nights my co-host, @BenitaTyler, and I (@DorethiaConner) discuss all things money! That's right, you can 'tune in' to our weekly Twitter conversation #MoneyChat (@MoneyChatLive) held from 8pm-9pm ET and add your two cents.

#Follow: @DorethiaConner @MoneyChatLive @BenitaTyler

No Health Insurance? Here's Help.

2011-08-14T07:07:00.019-04:00

Many of you may not know - but my other life is that of Healthcare Finance. With so many people losing healthcare coverage, having major health issues or the self-employed who aren't sure where to turn - I thought this a timely topic. I've answered some of your questions and provided some resources below.

I don’t have insurance or a lot of money, can I go a doctor?

Call ahead and ask for the cost of the office visit or procedure. Dr.’s offices/hospitals have uninsured or self pay discounts of up to 20 – 40%. Don’t stop at the front desk, chat it up with your physician during your visit – let them know you don’t have insurance and would like a discount.

I have a new job but benefits aren't offered, what are my options?

Look for affordable healthcare options for your family à compare health plans here http://www.ehealthinsurance.com/low-cost-health-insurance or http://www.healthinsurance.org/ or

http://www.healthcare.gov.

You can also go to individual insurer websites Hap, Aetna, BCBS etc. - you might be surprised at how affordable it might be for you. My personal opinion – look for plans within your State – makes handling disputes/concerns simpler. Also, don’t just sign up online – develop a relationship with a representative, meet in person.

What about entrepreneurs who don’t have the advantage of a spouses employer insurance plan?

Check out http://www.freelancersunion.org/insurance/explore. If you have employees check with your state’s local chamber of commerce, they often have plans available to entrepreneurs. Also - use the links above to find affordable health insurance for your family. Don't skip out on health insurance - work it into your budget.

What about dental, vision and prescriptions?

If you have major medical conditions your prescriptions can be a hefty bill – always ask for generics, tell your Dr. to prescribe most economical, but effective prescription. Dental and vision visits are often inexpensive unless you are having major work done. Even so, plans are not as pricey as health insurance.

Any other suggestions for people with no health insurance?

Create healthier eating and lifestyle habits.
Exercise… walk 30 minute away from your home and 30 minutes back = simple steps.
Negotiate prices prior to receiving services - not just for office visits, but surgeries and other major services as well. Everything is negotiable.

Check Out:

Healthcare Advocacy
Patient Advocate Foundation
Patient Services Incorporated
Empowered Patient Coalition.org

Also here's a list I found online of Healthcare Advocacy groups that help with prescription drugs & other medical care:

HealthWell Foundation
FamilyWize.org - discount drug card
Needy Meds.org
Rx Assist.org
Rx Hope: https://www.rxhope.com/
American Diabetes Assn: http://www.diabetes.org (great site!)
Chronic Disease Fund - http://www.cdfund.org/
Partnership for Prescription Assistance
Heart Disease: Heart Support of America
Kidney Disease: American Kidney Fund
http://www.accessproject.org/medical.html
Vision Care: EyeCare America and Vision USA

What resources have you found helpful in the search for affordable healthcare?

- Your Financial Coach,

Dorethia Conner

www.connercoaching.com

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Tune in to #MONEYCHAT!!

On Monday nights my co-host, @BenitaTyler, and I (@DorethiaConner) discuss all things money & biz! That's right, you can 'tune in' to our weekly Twitter conversation #MoneyChat (@MoneyChatLive) held from 8pm-9pm ET and add your two cents.

#Follow

@DorethiaConner @MoneyChatLive & @BenitaTyler

What You Need To Know About Co-Signing on a Loan by LaToya M. Smith

2011-08-02T07:00:00.001-04:00

Check out the Black Enterprise.com article below featuring advice from yours truly (ME) on this subject!

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When friends and family ask you to co-sign on a loan you might think you’re doing them a favor, but you’re actually entering into some risky business.

by LaToya M. Smith Posted: July 28, 2011

Think seriously before signing on the dotted line (Image: Thinkstock)

According to the Federal Trade Commission, “Of the co-signed loans that default – 75% of them have to be repaid by the cosigner.” What that means is that if you decide to co-sign on a loan for someone, there is a three out of four chance that YOU will end up paying back the loan and NOT the borrower.

So, what should you do if someone asks you to co-sign on a loan? Dorethia Conner, owner of Conner Coaching, which offers personal and business financial coaching, cautions, “Don’t do it!” There is some questionable financial misinformation out there about co-signing so Conner spoke with BlackEnterprise.com to help bring some clarity to the issue and answer some key questions.

What does it mean to co-sign?

When somebody co-signs on a loan they are legally agreeing to make the payments (including late fees and attorney fees) should the loan go into default. It’s a legally binding document; that’s why it’s so hard to get out of explains Conner. Please understand that co-signing is not a reference, a favor, and you are not just a back up; you are legally responsible. Bottom Line: Read More

Biz Owners: Should You Deduct Your Home Office?

2011-07-27T09:11:00.001-04:00

by @BenitaTyler, TBS USA Accounting and Tax Advisory

If you use a portion of your home for business purposes, you may be able to take a home office deduction whether you are self-employed or an employee. Expenses that you may be able to deduct include the business portion of real estate taxes, mortgage interest, rent, utilities, insurance, depreciation, painting, and repairs.

You can claim this deduction for the business use of a part of your home only if you use that part of your home regularly and exclusively:

as your principal place of business for any trade or business, or
as a place to meet or deal with your patients, clients, or customers in the normal course of your trade or business.

Generally, the amount you can deduct depends on the percentage of your home that you use for business. Your deduction will be limited if your gross income from your business is less than your total business expenses.

If you use a separate structure not attached to your home for an exclusive and regular part of your business, you can deduct expenses related to it.

The rules vary depending on whether you're self-employed, a qualified daycare provider, or storing business inventory or product samples. If you are an employee, you have additional requirements to meet. The regular and exclusive business use must be for the convenience of your employer.

Want more advice on your accounting and tax issues? TBS USA is a national tax, accounting and business consultancy available to answer your questions! Visit www.tbsusa.com today!

Do you deduct your home office annually? How has it benefited you?

@DorethiaConner

www.connercoaching.com

Follow @MoneyChatLive and Join us for #MoneyChat every Monday night on Twitter from 8-9p ET!

Cheating at Poker OK in Michigan...

2011-07-25T11:00:00.001-04:00

Working on THE DEBT BOOK chapter on Gambling. I'm learning waaay more than I'll ever put in the book, but thought this was amusing. Apparently, in Michigan, home poker, card games, etc. are cool, as long as the house doesn't take a cut. (But we all know they do). Now... the funny part is that it's also not illegal to cheat... that's right... scam away!

MICHIGAN

"The Michigan Gaming Control and Revenue Act defines "gambling game" as any dice or card game played for money or some other form of value, "but does not include games played with cards in private homes or residences in which no person makes money for operating the game, except as a player." All laws, crimes, and punishments concerning gambling do not apply to home gambling, so long as no minors are present and so long as the House does not collect a rake. An interesting aspect of the law is that "cheating" applies only to true "gambling". Therefore, since home poker games are not classified as "gambling" then it is not illegal to cheat in a home poker game and therefore someone who cheated could not be punished by the law. I assume there are other laws to cover this situation because, after all, stealing is stealing. Home poker games are legal here as long as the gamblers are of legal age and there is no rake."

It may be legal, but um.. not the best idea... could get ugly if caught!

P.S.: What do you think - ever see anyone get CAUGHT cheating.. (at Poker)?

@DorethiaConner

www.connercoaching.com

Follow @MoneyChatLive on Twitter and Join us for #MoneyChat every Monday night on Twitter from 8-9p ET!

Biz Owners & The Graphic/Web Designer Blues....

2011-07-23T09:17:00.007-04:00

So... you have a major campaign launching tomorrow that you are pretty excited about, one last look at your site and ERROR!!! Utter horror sets in and frantically you call, email, text your designer. No answer. A couple hours later you get a call, email, text that they are busy and might get to you by the end of the day. MORE HORROR.

It's time to update your business cards, press kit, e-blast - the works. Time for a fresh look. You decide to call a graphic designer who does great work and asked to design for you in past - they are elated you chose them. You meet, outline your needs, and bada-boom, bada-bing, they promise to get to work. THAT was four weeks ago. Each call, email, text is met with an apology and a promise to have your materials by this or that due date. NOT!

Those fancy-dancy Facebook 'Welcome' tabs everyone has now are so cool - you decide you want one too! You shop around, think you found a great 'guy' who does them, promises it will take no time at all. The work he's done in the past looks snazzy, so you sign up too! Turns out, maybe those weren't exactly tabs HE created and the one he does for you isn't anything you want others to see. #FAIL

We've also noticed that with some web designers it seems as if they want to do the big jobs, but not the minute details once the largest portion is complete. You know - moving a box, changing colors. Once the project is done you always need ongoing maintenance. And YES, even when this is in the written agreement, you may be made to feel as if you are a hassle to your designer instead of a valued customer.

Now, before everyone starts waving their fingers saying - ' you pay for what you get, these must have been low budget designers.' UH NO! My friends and I have this discussion all the time about our troubles with graphic/web designers who do great work, but are slow or have horrible customer service. Oh, and some may show a great portfolio, but .. er.. your finished project is anything but great.

We haven't come up with a complete solution - other than to keep shopping around until you hit the jackpot. Some of us have and are pleased with our designers, others, well, we hear their stories when we meet up at the Biggby Coffee Shop!

Do you have any tips? Have you had great success with your designer? Shout 'em out!! They deserve it!

@DorethiaConner

www.connercoaching.com

Follow @MoneyChatLive and Join us for #MoneyChat every Monday night on Twitter from 8-9p ET!

$ Tip for Authors: Does Your Book Suck?

2011-07-16T13:18:00.000-04:00

First off - hats off to anyone who decides to write a book and tackle all that goes with it. Whether you are self/independently published or traditionally published - I APPLAUD YOU! I'm jumping into the fire myself and my head is spinning as I work on The Debt BOOK! (nope, not the real title, there isn't one yet lol)

My tip for today is to save the money for a good editor and cover design. I've always been an avid reader and sometimes others ask me to review their adult/youth financial or business related books. I’ve come across great book covers, horrible editing and vice versa. I’ve also seen where both cover and editing needed a complete revamp. If I buy your book and can’t get past the first chapter because of poor spelling, format, grammar, etc. – I won’t finish reading it AND I will tell my world how badly done it was. Now multiply ME times the number of people in your audience. Word of mouth can hurt your book sales and speaking engagements – thus hurting your bottom line! Now, we want to keep that bottom line happy!

Don't rush your project - take your time, make sure that you have thoroughly dotted the i's and crossed the t's so your labor of love can net the result you are looking for.

What about you? How has your experience been with editors for your book project?

Your Coach,

Dorethia

www.connercoaching.com

Getting a Tax Credit for Your Honey Do List!

2011-07-14T10:09:00.000-04:00

You have to do the work anyway - might as well get paid for it! Well kinda - @BenitaTyler of TBS USA Accounting and Tax Advisory, offers some insight on tax credits for items on that long summer home improvement list! Check it out!

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Summer is a great time to tackle home improvements - and, happily, it's not too late to receive a tax credit when making your home more energy efficient. Although significantly reduced from 2010 levels, energy-efficiency tax credits are still available in 2011.

The home energy credit applies to energy-related improvements, such as adding insulation, energy-efficient exterior windows, and energy-efficient heating and air-conditioning systems to an existing home that is your primary residence. The tax credit is not available on rental properties or new construction.

The tax credit is 10% of the cost of the home improvement, up to a maximum of $500. There is a lifetime limit of $500, so if you took a $500 credit in 2010, you do not qualify in 2011. The tax credit expires December 31, 2011.

The credit on some items have been reduced below $500:

Windows limited to $200; Energy Star qualification.

Air conditioners, water heaters, and biomass stoves limited to $300.

Furnace and boiler improvements limited to $150 and must meet certain standards.

$50 credit for advanced main air circulating fans.

Further, the Residential Energy Efficient Property Credit is a nonrefundable energy tax credit that helps individual taxpayers pay for certain alternative-energy equipment, such as solar hot water heaters, geothermal heat pumps, and wind turbines. The maximum amounts for a credit equal 30% of the cost of qualified property, with no upper limit. This credit expires on December 31, 2016, and is available for new and existing homes, whether primary or second. Rentals do not qualify.

Want more advice on your accounting and tax issues? TBS USA is a national tax, accounting and business consultancy available to answer your questions! Visit www.tbsusa.com today!

Are You Living to Give?

2011-07-08T12:00:00.003-04:00

"You make a living by what you get; you make a life by what you give."

~ Winston Churchill ~

What have you given lately? A while back I posted on my Facebook page on the importance of giving to those in need. I'm not only talking about your annual giving to the Red Cross, United Way, your church or other organization. While these are all wonderful, charitable organizations that I support - I'm talking a little more grassroots. Stand outside your home - think about your neighbors on either side, down the block, across the street - what could they use help with? Who in your family is going through a rough time, facing an illness or job loss? Who do you know that is elderly and could use help paying for medicines, getting around, or has some long overdue housecleaning that's needed?

A lot of times we operate in our own little bubble - my four and no more, when all around us there are those whose day would be brighter with the smallest gesture on our part.

If you have the means, there are many ways you can help someone in your circle who has a need. I had a friend once who actually wrote it in her calendar to help at least one person each week. Now, your assistance doesn't have to be financial - labor is often worth just as much as your cash.

Here are a few small ways to be a beacon of light....

When you go grocery shopping each week, just add a few items to give away. This way you aren't trying to buy all at one time or...
Buy a grocery gift card for someone
Purchase a pack of diapers or low cost baby clothes for a single/teen mom
Volunteer to do the yard work for an elderly person who doesn't have much help
Offer to run errands for an elderly or disabled person who may not get around as well
Buy gas cards for people you know who could use a little help financially when you go to the pump
Offer to help a child with tutoring in a subject they struggle with
Know anyone who is in the hospital or home ill? Take time to visit and chat with them for more than 20 minutes. Take magazines and food they like.
Help send a student to camp

One thing I've learned over the years is that often when you ask people if they need help they'll say no. They don't want to impose and pride can keep people from admitting they need help. That's understandable, so like Nike says.. JUST DO IT! Most will be relieved and elated you thought of them.

This is a short list of things we all can do to help others - what would you add? What have you done in the past? Most importantly... how happy was the person on the receiving end of your kindness?

Wishing you the best,

-Dorethia

www.connercoaching.com

7 Money Books You Should Read ASAP!

2011-07-06T11:00:00.001-04:00

As I was on my journey to better money management, I would write down my progress periodically. I am a planner, a list maker (when it was time for my youngest daughter to be born, I even put that on a list!). I would type up when I paid something off, how much more I had to go, and a timeline for payoff. Yep, I've made pretty good progress - you hope so huh, since I am the financial coach?

Anyway, as I was reviewing my old notes, I thought about the books that changed my financial life and thought I'd share them with you. I've also added a few recent books that are definite must reads as well.

1. Total Money Makeover by Dave Ramsey
(This was my 'aha moment' book, and the reason I do what I do! Thanks Dave!)

2. Zero Debt by Lynette Khalfani - Cox (A Must read!)

3. Girl, Make Your Money Grow by Glinda Bridgforth-Hodges and Gail Perry-Mason
(Easy to understand explanation on how to save and invest - men can read it too!)

4. The Millionaire Next Door by Thomas J. Stanley (A timeless classic)

5. Living In The Village: Build Your Financial Future, Strengthen Your Community by Ryan Mack (Excellent strategies & as the state of our communities is near and dear to my heart - this one hit home.)

6. Get Financially Naked by Manisha Thakor and Sharon Kedar
(Great book for couples - I recommend to my engaged & married clients)

7. Stop Acting Rich and Start Living Like A Real Millionaire! by Thomas J. Stanley
(The kick butt title alone grabbed me and true to his style, Stanley brought it home in this one!)

Alright, there it is - these should keep you busy for a couple of months! Remember to spread the love, you know others who need help in their finances too. Buy them a book or at least share this post with them. Let's take someone else with us as we climb out of financial oblivion and into wealth!

What about you? What book changed your financial life?

Until next time!

-Dorethia
www.connercoaching.com

Linear Income - A Straight Line to Staying Broke!

2011-07-01T15:44:00.000-04:00

I'm pleased to have as a guest blogger today Success Coach - Celest Turner. A dynamic individual, Celest believes in helping others pull multiple streams of income from the talents they have inside. Enjoy the article and be sure to visit Celest's website.

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Over the years, I have met some amazingly talented people who were unemployed, under employed and some with enviable salaries. All of them had multiple talents and skills that they, at some point in their lives, packaged up daily and delivered to a job for a biweekly pay check (minus taxes of course).

For most people, a consistent pay check is good and fair trade for hours of work. This form of payment is called linear income. The problem with linear or earned income is that your pay is always dependent on giving your time away. If you can't deliver the hours or if you are no longer needed then you no longer get paid.

We are all worth more than trading hours of our lives for money. While linear income is a good baseline, there are other streams of income that are smarter and will give you more freedom.

Passive Income

Passive income has two components: it is regular and requires very little of your time to maintain. Examples are rent from properties, interest from investments or earnings from Google Ads and other website advertising.

Leveraged Income

Leveraged income is what your employers get every day. They use the efforts of all their employees to make them money. You can do the same thing by leveraging joint ventures, affiliate marketing and partnerships.

Residual Income

Residual income happens when you do something once and get paid over and over again. The most common example is a syndicated television show where the actors get paid repeatedly for reruns.

How would your life change if you used your talents and skills to add passive, leveraged or residual income to your current linear pay check?

Celest Turner is an expert who facilitates success and helps propel businesses and people to new heights. She has perfected strategies in her 15-year career that have developed leaders, enhanced careers, increased revenue for companies, and built brands. Learn more about Celest at http://www.newsuccesscoach.com/

Your Biz: What's The Word On The Street?

2011-06-28T12:10:00.001-04:00

We all know about the word on the street. There's what we see on t.v., there's what's done in the corporate world or other industry, there's what's heard on the news, but the real deal - is the word on the street. That's right - what really happened? How are things truly perceived?

The question today is what's the word on the street about your business? How do people you market to really 'see' you? If people are referring you customers - what are those customers saying about you after purchasing the service or product? What is it that they were too 'nice' to tell you in person? What is it that others in your industry wish they knew you well enough to say, but ... well... don't? We're all worried people may take our constructive feedback the wrong way, especially those we only know in passing, but may be in the same line of work that we are or in the same networks.

Now, here's the thing about the word.... sometimes it's just plain ol' ignorant. Some people don't mean you any good and their word on the street should be ignored. Don't get down about what they say because it's not constructive, but destructive. Listen ONLY to what makes your business better... any thing that demeans is useless.

A 'suggestions' form on your website is one great way to get feedback, as well as anonymous customer surveys.

How about you? What are some things you are doing to find out what the 'word on the street' is about your product or service? What have you heard that has helped you improve?

-Dorethia

www.connercoaching.com

Mobile Banking ROCKS!

2011-06-27T13:00:00.001-04:00

From the title you can tell that I'm a fan of mobile and online banking. It has made my LIFE and business so much easier. Why do I love it so much? Well, besides the fact that it saves me the time of having to actually go to the bank - here are a few other reasons.....

Text messaging – your bank will text you if your balance gets low or there are other account updates … you don’t have to have a smart phone – any cell phone will do.
Pay your bills, see balances and even send wire transfers, etc. from your phone or computer.
Link your business accounting system with your business bank account and transactions automatically download.... I {heart} this!
My FAV! Chase’s QuikPay feature which lets you take a picture of your check front/back and BOOM – it’s deposited!

Is Mobile Banking Safe?

Pretty safe, biggest risk is if you lose your cell phone. If that happens make two (2) phone calls immediately:

1. Call the bank and ask them to block the banking app

2. Call your cell phone carrier and have your phone locked so it can't be used.

Also, a techie friend says to definitely switch your BlueTooth off when you aren’t using it so no hackers can get into your accounts. Keep the phone numbers to your bank, cell phone carrier & credit card companies etc. on a piece of paper, postcard, sticky note - something other than your CELL PHONE, in case it's stolen or lost.

Okay folks, welcome to the app age... embrace the tech! Happy Banking!

-Dorethia

www.connercoaching.com

*Disclaimer: While I was not paid to promote the Chase feature in this post, you can assume that anything I may share on my blog could be a paid affiliate. You can also be assured that I don't promote any product or service I don't believe in simply to receive an affiliate commission.

Life Insurance is a MUST!

2011-06-22T12:43:00.000-04:00

Not having life insurance is NOT an option. I had a conversation the other day about the stress added to losing a loved one when there is no life insurance and thought I'd share a few tips with you guys.

If you have a family -- each spouse should have between 7 and 10x's their annual income in life insurance. I'm a fan of term life insurance because it's uncomplicated, affordable and gets the job done.

For your children, you only need burial insurance of about $10,000 -- $15,000 -- based on the costs in your area. Same goes for singles -- you also generally only need burial insurance. But, whether you are single or have a family, life insurance is also a great way to give to someone less fortunate, maybe a friend or family member or your favorite charity.

At the bare minimum -- everyone should have enough insurance to cover the costs of your plot, casket, headstone and funeral services. Being prepared takes the financial pressure off your loved ones who are already grieving. How many of us have been in a position of trying to collect donations for burial costs? Raise your hand! Mine is up! Let's be proactive and ease the burden for those we love!

Thanks for tuning in -- for more tips subscribe to CONNERCOACHINGtv - also visit www.CONNERCOACHING.com

-Dorethia