Friday, March 29, 2013

Be Your Own Accountant & Get Paid To Do It!

Wake Up Now! Transforming Our Financial Management  

Set Up For Failure Without Financial Planning

I came into my adult life without any real template for success with personal finance. I grew up in a household where I knew the meaning of bankruptcy and the median poverty level in 1989(then $20,000) at the age of 7. I knew what it was to get hand-me-down clothes, donated clothes and to shop at a thrift store. Holiday celebrations were scarce and usually provided by whichever caring family that took an interest is helping us that my parents hadn't alienated, or relatives that were near and kept in contact. I can count the Christmases that we had where we all received good gifts, mostly from relatives. I knew what it was to be grateful for my blessings. I always wondered why we never sent gifts out to our relatives, didn't get new things, or go on vacations and visit places like Disney Land. Looking back I think the saddest day in my youth was when I came to accept the fact that we would never be "like everyone else" because we were poor. Words like "personal finance", "expense management" and "financial planning" were rarely heard in my home and when they were, it was it was in relation to a short term project.
It wasn't that my parents didn't work hard, or that they blatantly chose not to pay our bills, it was that they were overwhelmed and uneducated. Also, my mother was very ill in more than one way and I don't believe that foodstamps were an option for them, either by ignorance, pride, or not qualifying for them at their income bracket. Medical bills were the reason for their bankruptcy. 

 Common Mistakes In Personal Finance

My mother had no head for financial planning. When we got our tax refund at the peak of my step-father's business, rather than invest it in a sure-fire option for return, she convinced my step-father to buy us all day-beds. This is where being thrifty would have benefited us long term. We had wooden bunk beds that were just fine for my middle sister and I, and my younger sister could have slept in a toddler bed. This is a mistake that a lot of people make, going for what is shiny rather than what is practical just because they can afford it at the time.
"I'm sorry, we can't afford that."

Budgeting and expense management were not as productive as they needed to be. I got to sit and see our monthly budgets as my mother wrote them out. They never had an option for savings as a use for any remainder. The profit from my step-dad's business was used as "mad" money. There was no future goal in mind, my mother always convinced my step-father to live in the moment. So, we grew up without any sort of financial safety net or monetary cushion in preparation for the financial storms that came along.

                                                         Stuck Thinking Inside The Box

We worked as volunteers at a thrift store in central Portland and as payment for our services we were able to take home whatever we needed or wanted. This would have been a fantastic opportunity for my parents to have sold those shiny day-beds and had us use free beds. Also, there could have been so many opportunities to capitalize on free goods to be sold elsewhere; swapmeet, community yard sale, etc; And when we had a large move, rather than make the choice to sell what we did not need, my parents put the items in a storage unit and we ended up losing all of our belongings from our past that we did not already have with us. Holding on too tightly to something does not always work out. It is important to see the bigger picture.

 Opportunistic Tragedy

I remember the first Tupperware party that my mother went to, it was 1985 was a bit over 3, but not yet 4. It was a blast and I loved the event. We had just moved to Daniel's Creek, Oregon from the Tri-Cities in Washington. We had gone from a single-wide mobile home to a very nice home and my little sister had been born. My parents were planning on moving again for a better job for my step-father. Rather than stay and grow a business that my mother would have done well at then, my parents relocated and upset the delicate balance that is the permanence of establishing one's self in a community.
When opportunity knocks you had better answer. My step-father told me when I got my first cell-phone
at the age of 19 that he'd had the option to buy in to the cellular market back in the 1990's before it had boomed, but he "didn't have the money" then...

There was this newer MLM company that got started in the 1960's and got really big in the 1980's called AMWAY...yeah, my parents had an opportunity there.

Insurance, HUMAX, Mary Kay, and the list goes on for all the opportunities that my parents had and passed up.

The Hamster Wheel Business

My step-father worked harder than anyone else I had ever met. He drove long-haul truck which was a pretty decent paying gig. The isolation took it's toll on my mother and he was soon home, making less

It might look like you're going somewhere, but you're not.
money, but around to make my mother perk up and our quality of life was better. Then my step-father discovered that a niche market in Portland, Oregon. He found what he called "parkers", cars that no one wanted and that he could buy for cheap, that might need some work done and cleaned up that he would resell at a higher value. He had vision, a great attitude, tools and dedication, but I am sad to say that he did not make as much of a success out of his business as he could have. He had such potential and I really think that he would have gone farther had he some guidance in the business arena, more connections and a spouse who could see the big picture.

My mother tutored under a master pruner and gardener in Portland, Oregon and she started her own pruning & gardening business. She even had success with getting the bid for the Hermiston, Oregon townhall and her landscaping was great. I can't tell you how much profit that she made overall because she never discussed her expense management. But she stopped there. She got distracted with dog-breeding. 
And the next thing you know my parents were moving again. Any rapport, or relationships that they had established in that smaller town that would have helped my mother become more successful, were tossed aside.

An Unfinished Expense Management Puzzle

A big key piece of the business puzzle that my parents were missing was effective marketing. They blew money on things that had no return without any thought to the concept of expense management.
So you can buy toys; a bigger TV, weapons, more expensive clothing, jewelery, a vacation...but are those going to give you a return in your investment? No. They are a non-recuperative expense.
My step-father used the cheap classified ads to draw business, but how much greater traffic would he had been able to attract if he had invested some of his profit into a bigger color add? If he had gotten business cards printed? If he had established relationships through a small business co-op or networking group? The formula for investing in your business should be to take a portion of your profit and invest it in advertising

Being Asleep Financially

A lack of financial planning causes one to sleep through the opportunities that life may bring for good fortune. I can tell you right now that for all the expenditures that my parents made towards furthering there respective businesses, that they never claimed anything as a tax write off or business expense. Do youknow how much money they lost just at tax time over the years?! Just as an individual that is the head of a household and relocating for a job there is a deduction that I am sure that they never credited from.
There problem was that they were uneducated in matters of money management for business. They were caught in the Poverty Mentality. There are some great public figures that have arisen in the arena of money management in the past few years whose sole goal is to help families to break the generational chain of poverty through changing the mentality of first parents and then the result being their children are successful financially.
But what are the tools that those who are wanting to change their lives financially permanently now? For many the solution seems to make more money, but does that actually help if you don't know how to manage it? To invest properly? To have healthy personal boundaries within your self so that you can tell the part of your self that wants instant gratification, "No!"? To look at the bigger picture and plan for the future?

Realistic Consequences Of Expense Management

I don't mean to be a downer in mentioning a harsh reality. The truth is that at the end of the fiscal year tax
documentation is due and few small business owners are prepared because they lack the education about the necessity of financial planning. The fiscal year determined by our
I'm no CPA!
government is October 1st to September 30. All documentation is due by April 15th. Taxation for business which generally comes out to 20% of your profit...and who actually remembers to save 20% of their earnings monthly? Why do you think that we see so many businesses fail within the first year that they open? Lack of prior financial planning, guidance and management.

  How Do I Enact A Change?

The first step to overcoming a problem is to admit that you have one. You don't have the adequate knowledge, time or experience to effectively manage your personal, and personal business finances and that is alright.
Necessity is the mother of invention. And aren't we glad for necessity driven inventions! We like
convenience, ease and affordability. There is now a tool that will essentially think for you and help you to manage your finances. I find it's value to be priceless, but as I stated earlier, I grew up in a family that did not have a track record of financial success. So, I latch on to any tool that I find that will elevate my mentality beyond what I currently operate at and I share it with others that are struggling as well, especially parents.

                                                    The Solution is Wake Up Now



  • Track all of your financial accounts in one place
  • Apps for your aspects of personal finance
  • Categorize your spending
  • Create budgets
  • View financial reports

   Rewarding Your Responsibility In Personal Finance

Wake Up Now is the first program that actually rewards you for using the tools that it provides, and they make a big difference. You receive insider savings programs that gives you free items, 22% discounts with large cellular carriers, discounts in shopping at your favorite places, a member's only exclusive marketplace and rewards you with vacations, paid. Really!
Act Now!
Do your self and your family a favor and go watch the whole video at the link attached. I want you to think about how this tool can help you give you financial freedom that before you thought was only available to the wealthy. Wrong thinking. This tool is how the average become wealthy!

Click HERE to take a hold of your future and Wake Up Now!

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