Prince Charming Isn’t Coming or How to reclaim your financial destiny: Barbara Stanny Tells
Barbara Stanny is a pioneer in the field of financial education for women and has authored a number of books including the best seller “Prince Charming Isn’t Coming-How women get smart about money” and “Secrets of Six Figure Women”.
When I spoke with Barbara Stanny about her road to becoming financially literate, her story had an all too familiar ring. Many women will be able to identify with her journey; some of it isn’t pretty, some of it will cause you to squirm. You may even feel the fear stab you in your heart because it hits uncomfortably close to home.
Listen to her pull no punches interview here: Barbara Stanny Interview1 (unlinked)
She like so many women did not feel confident enough to take control of her finances until fate intervened. What started as a simple act of withdrawing cash from an automatic teller machine turned into horror when these two words “insufficient funds” appeared on the ATM advice slip.
Barbara’s spouse (who mismanaged her inheritance) left her to find her own way out of the financial maze that included paying back taxes of $ 1million. Believing in the adage that “what doesn’t kill you will make you stronger,” she set out to learn the language of money. In doing so Barbara discovered how to overcome not only the external but internal blockages to becoming financially independent.
As Barbara states, “In your deepest pain lies your highest purpose”. We are eternally grateful that her purpose to empower women through her books, seminars and retreats has saved many a woman from financial ruin.
What appeared initially a financial disaster of monumental proportions has been a gift of self discovery. Barbara is passionate about sharing her hard won knowledge in her latest program “Sacred Success” for women who are on the verge of or have reached affluence. Specifically it speaks to women who want to make a difference in the world through philanthropy.
This is indeed a fine legacy for any woman.
Find Barbara at http://www.barbarastanny.com
Female Friendly Investment Strategies: Stock Trading with Louise Bedford
Previously I explored investing from the female perspective. The idea of bricks and mortar i.e., residential or commercial property investing has great appeal to most women. It is tangible and can be tizzed up with an exterior paint job or reasonably priced landscaping to the front garden. In doing so, extra value (capital growth) can very quickly be added.
In this article I want you to consider the diametrically opposite. I invite you to get your head around the idea of investing or more specifically trading the stock market.
So I asked Louise Bedford the question: What makes a successful share trader?
Her definitive and emphatic response: “Mindset is God”.
Louise Bedford Interview You can download the mp3 recording and pdf transcript of this interview by going to http://yourmoneyandyourmindset.com/online-store/
Louise arrived at this conclusion after being struck by a serious illness that left her without the use of both arms. Unable to work, she looked to share trading as a means of making an income.
Thankfully Louise fully recovered the use of both limbs and has gone on to not only understand but also conquer the market. Her burning desire to share her knowledge resulted in Louise authoring not one but four best selling books on how to read and profit from stock market trends regardless of whether the index is up or down. Trading Secrets, Charting Secrets, The Secret of Candlestick Charting and The Secret of Writing Options, are without a doubt “must reads” for anyone wanting to successfully trade the share market.
Her invaluable insights into how not to lose your shirt trading include having a strategy and being disciplined enough to stick to it. She explains how we can be our own worse enemy, when unbridled emotions scupper our ability to trade analytically and sensibly. Besides understanding the charts, self awareness and personal development make up the equation of a winning trade.
Louise is a woman after my own heart as she believes that wealth and philanthropy are inseparable. As she rightly says, “Give a hand up and not a handout” as part of her commitment to international programs that disburse and administer micro loans to women entrepreneurs in developing countries.
Louise and business partner Chris Tate offer a mentoring program to guide the novice and even the experienced become successful traders. If you would like to know more about this remarkable lady, find her at http://www.tradingsecrets.com.au
Dal LaMagna Interview: Failure Is Not Final
If you subscribe to self-development eNewsletters, round about this time of the year, (late January of 2011), your inbox will be inundated with a ton of emails with subject headings like “10 reasons why your new year’s resolutions have failed” and that is usually followed by an offer of “How we can help”.
If you have stuck with your resolution to improve your health, fitness, finances, and personal relationships then kudos to you.
Okay, so the title of this article may sound like one of those motivational, “Come on people, pick yourself up when you’re down” types.
Maybe it is, may be it isn’t. It all depends on your perspective.
Dal LaMagna Interview You can download the mp3 recording and pdf transcript of this interview by going to http://yourmoneyandyourmindset.com/online-store/
You see, we often make the mistake that successful people (millionaires) burst on to the scene as readymade straight out of the box (overnight) successes.
Some of these erroneous assumptions are engineered by the popular press because of the higher drama impact it has on the reader and hence circulation, and revenue (ooh, isn’t that cynical).
The reality is more boring, but nevertheless equally important.
It isn’t sexy to talk about the hard yards, sacrifices and sense of self belief and faith these people showed in the face of adversity.
Show me a person who claims to have just thought up an idea, implemented it and cashed in the millions of dollars without breaking into a sweat and I will show you Pinocchio.
So, I am going to throw you this idea. If you don’t fail, you will not know how to succeed. No, it’s not a mind bender, it actually occurs with predictable frequency.
I have made it my mission to ask self made millionaires how they arrived at their current situation.
Not a single millionaire has glossed over their multiple attempts before finally getting the right business plan, system or model to work well for them. Their candour and honesty is indeed refreshing.
Therefore, I would like to share with you the following interview with Mr Dal LaMagna, the founder of Tweezerman. He is actually a funny guy.
Mr Tweezerman
I have included a synopsis and titled the interview: How to fail your way to success
Dal LaMagna speaks honestly about his sixteen failed business ventures including turning down an offer from Coca Cola and saying no to being involved with the Woodstock Music Festival before he made his fortune from his company Tweezerman.
Tweezerman started as a one-man operation with seed capital of $500. By using head and heart business principles to grow his venture, he was able to walk away with millions when he sold it years later.
Dal shares his wisdom and insights on how to succeed as an entrepreneur in his new book Raising Eyebrows: A Failed Entrepreneur Finally Gets It Right (John Wiley & Sons).
He has done a huge favor to all the budding business tycoons out there by being up front and authentic when he tells it like it is which means you have to do the hard yards and own up to your mistakes, and that’s just for starters.
What more, the man shows that you can be a capitalist and have a social conscience.
I found Dal’s leadership style inspirational-there aren’t many CEOs who genuinely care and will take onboard every employee’s suggestion to grow a business.
Tweezerman flourished because Dal had the foresight to make each and every employee a partner in the business. Yes folks, they got a share of the revenue, not just a monthly pay check.
Do yourself a favor, get the book and read Dal’s many tips on how to succeed in business, and maybe just maybe you will not need to fail 16 times before hitting the mother lode.
Find him at his website:
http://www.dallamagna.com
MJ DeMarco Interview: How to retire young and rich
Ladies, this one is for the men in your lives.
I recently spoke with Michael J DeMarco who has just authored a book with a title that caught my eye.
The Millionaire Fastlane-Crack the code to wealth and live rich for a lifetime
Mr Millionaire Fastlane
MJ DeMarco Interview You can download the mp3 recording and pdf transcript of this interview by going to http://yourmoneyandyourmindset.com/online-store/
MJ’s views and opinions on wealth creation take on a high octane flavour. For one thing, he doesn’t accept that people have to scrimp and save and take 50 years to become financial independent.
He rejects the “get rich slow” plan which see people in the twilight of their years before they can enjoy their hard earned cash.
His ideas certainly challenge conventional financial wisdom that is offered by many other well known finance gurus on the scene.
In my interview with MJ now in his thirties, he tells of a chance meeting with a young man getting into his Lamborghini at an ice cream place, where he, as a spellbound 12 year old awoke to the possibility that one day he too be like this young millionaire.
From that fateful encounter he made it his mission to study the habits and characteristics of young millionaires and decided that in the simplest terms it would mean becoming an entrepreneur.
He pulls no punches and tells it like it is; that people can either do nothing (Sidewalk strollers), take the Slowlane and wait until they are in their 70’s before being able to enjoy the fruits of their labor.
Then there are people like MJ who elect to take the Fastlane and retire YOUNG without sacrificing lifestyle.
And yes, he does drive a Lamborghini.
Yours in health, wealth and happiness
Matt and Amanda Clarkson Interview: eBay and Wealth Creation
Christmas is a wonderful time of coming together to share a special meal and re connect with other family members.
At one time or another we all have been at the receiving end of a Christmas present that has not rocked our world.
So hands up anybody who has had the idea of hocking off that gift on eBay.
I talked to an Australian couple Matt and Amanda Clarkson, who found eBay to be their ticket to financial freedom.
Matt and Amanda Clarkson eBay Magic
Matt and Amanda Clarkson Interview You can download the mp3 recording and pdf transcript of this interview by going to http://yourmoneyandyourmindset.com/online-store/
The story of their journey may just be what you need to take inspired action towards a new beginning for yourself.
Matt and Amanda both left school at 16, he to become a carpenter and she working through 33 jobs and 11 businesses over the last 20 years.
They knew that working for “the man” or being a sole operator was limiting their dream of becoming financially independent. In 2006, the internet was where they found the clue that became their golden key to freedom.
In this interview they speak frankly of their learning experiences during this process including Amanda’s honest and candid admission that she was not introduced to her first PC until she was a young forty year old.
Matt is a bestselling author and international expert in Internet Marketing and in particular eBay business development. Amanda’s eBay business, which she started with a credit card in Feb 2006 was a run away success and is still forging ahead to this day.
Now, they show everyday people how to become cash and time rich with eBay through their simple, and inspiring eBay education courses through their multi national company Bidding Buzz.
The passion and vision of these two heart centered entrepreneurs is to help as many people as possible live life on their own terms instead of someone else’s through The Magic Of Making Money On eBay.
Andrew and Daryl Grant Interview: How a simple mindset shift made this Australian couple millionaires
I had the pleasure of interviewing Andrew and Daryl Grant and hearing how by changing the way they thought, changed their future.
Andrew and Daryl Grant Interview You can download the mp3 recording and pdf transcript of this interview by going to http://yourmoneyandyourmindset.com/online-store/
Like so many of us, Andrew and Daryl had been trading their time for money.
As successful as they were in their financial planning business, they realized that their income was dependent on their active involvement in their jobs.
Time spent in their business meant time away from family, a situation they found unacceptable.
This “can do” duo then went about investigating various means of generating passive income and finally came upon the power of the internet.
Andrew and Daryl achieved their goal of becoming financially independent six months shy of their 5 year target.
All this from two people who cheerfully admit to knowing very little about building websites, writing code etc.
In this interview they speak honestly and candidly of how they overcame some of their limiting sub conscious beliefs that had stymied their efforts in the four years leading up to their goal deadline.
Andrew and Daryl have generously made available a free audio recording on overcoming subconscious blockages.
Click on the link below to get your free copy:
Owning Up and Learning from My Mistakes
Our education system does not encourage us to admit our errors and effectively punishes us when we get it wrong.
This is reinforced by the assessment strategy of grading us down in tests and formal examinations when we do not produce the “right’ answers.
The system is designed to turn out cookie cutter lookalikes with not a whit of individuality.
It stymies creativity, inventiveness and discourages exploration; in effect we get a slap on the wrist every time we colour outside the lines.
So does the title of this article stir up a bit of discomfort?
I certainly hope so, only because I want you to challenge conventional thinking and behaviour.
What if, for a change, we celebrated instead of shaming kids in grade school for giving the incorrect answer?
Rather than making them feel like a failure we gave them elephant stamps and gold stars for having a go, for attempting an answer.
Brian Tracy, one of my favourite motivational speakers and amazing business coach said it best:
Learning from your mistakes is an essential skill that enables you to develop the resilience to be a master of change rather than a victim of change.
The person who recognizes that he has made a mistake and changes direction the fastest is the one who will win in an age of increasing information, technology and competition.
By remaining fast on your feet, you will be able to out-play and out-position your competition.
You will become a creator of circumstances rather than a creature of circumstances.
In other words: Adaptability is the name of the game.
In every episode of Star Trek Dr Spock may have said, “Live long and prosper”, but Dr Tan says “Live smart and prosper”.
So, the faster you fail, the quicker you get to your goals.
You might as well get through it sooner than later because that lets you gain momentum as you hurtle towards success.
Yours in health, wealth and happiness
10 Tips to Staying Motivated: Especially When You Don’t Feel Like It
Motivation is like a shower, you need one everyday-Zig Zaglar
Firstly it would be unrealistic to feel pumped all the time, so don’t be hard on yourself if you have the odd day when you feel really flat. Here are 10 suggestions to get you to re focus. Go get ‘em!
An update to this post: I have included an mp3 recording
Click here to listen:Audio recording of 10 Tips to Staying Motivated
1. Remind yourself again what it is that you are striving to achieve.
• Is it a physical fitness goal of wanting to run a personal best in the Boston marathon or being financially independent in 5 years
• Either way, are your goals written down for you to review and read as often as it is necessary
2. Portion control
• You can eat an entire elephant by yourself if it is only one bite at a time. So chunk it down to manageable portions that are achievable in days and weeks rather than months and years!
3. Do a stock take of where you were 3, 6 and 12 months ago relative to where you are now
• Celebrate your wins, no matter how small. It’s a win, don’t get too precious about it
• Keep a journal and record your progress. You will be surprised at how far you have come
4. Practise mental rehearsal of having reached your goal
• Make it as real as possible by imagining what you are wearing, who is with you, whereabouts is this taking place, does it have a particular smell. Above all, tap into the feeling of having aced the goal and remind yourself of that winning feeling by clicking your finger 3 times in succession.
• Do this daily even when you don’t feel like it, especially when you don’t feel like it
5. What are you eating, when do you exercise
• Remember the old computer programming term GIGO (Garbage In Garbage Out). If you are fuelling your body with junk food, you will not have the energy and stamina to get to your goals. This is a non negotiable fact of getting where you want to go and what you want from life
• Yes, your body is a temple. Worship it with fresh food, vegetables, and lots of water. Ditch the refined carbs and trans fats, they clog your arteries and reduces blood and oxygen flow to your brain. Lord knows you need all your neurons to fire if you want to be able to think clearly.
• Physical fitness is not an option. Again it is one of those things you just do to stay alert and healthy to be able to enjoy your successes when they come. Being in an iron lung and a millionaire is kind of bittersweet
6. Oh brother where art thou; who do you hanging out with
• Are these people supportive or do they make it a sport of taking potshots at your dreams and goals; if they are in the latter category, say bye-bye and leave them to wallow in their own pity party
• Create a mastermind support group. These are people on the same wavelength who will not ridicule your goals, dreams and aspirations but instead cheer you on. You can learn from them and vice versa
• If this type of support is thin on the ground, consider hiring a business/life/fitness coach to keep you accountable. Yes, it costs money so think of it as an investment in yourself. “You’re worth it” as the Revlon ad goes.
7. What are you reading, watching on television
• I am a big fan of reading motivational books by Jim Rohn, T Harv Eker, Bob Proctor and the cool thing is that there are lots of free mp3 downloads you can listen to in your car or as I like to call it “your university on wheels”.
• Stop watching the news. If it is really important, somebody will tell you. Notice how television only reports bad news; that is because bad news sells.
8. When do you stay still-meditate daily
• This is about staying healthy on the inside
• Often the solutions to business problems or obstacles at work are found when we shut up and stay still long enough for our sub conscious to present us with an answer.
• Don’t be skeptical if you haven’t tried it for at least a month
9. When did you last do a budget and track your expenditure and earnings
• It is vital not to shy away from tracking your finances. How then will you know that you have made progress in putting aside money for investments and passive income building? Answer me that?
10. Get in sync with your internal clock
• If you are a night owl and your best ideas come to mind after 10pm, ask yourself why are you flogging your body to be up at 5am to be inspired and creative on your projects. It does not make sense, so stop it!
Yours in health, wealth and happiness
What Does It Mean To Be Wealthy
With respect to the above, I am reminded of a television advert some years ago aimed at selling a well loved Australian brand of chocolate biscuits. These were not just any choc biscuits, they were Tim Tams! They were made with a choc filling and each biscuits was then dipped and coated in more chocolate. You get the picture.
Anyway, the scene is set where a young man strolling on a beach on a hot summers day finds a bottle on the beach. When he unscrews the cap, a genie pops out and offers him his one wish. He says to the genie, “I want to be cool and I want to be rich”. So, the genie obliges by turning him into a packet of Tim Tams and sticks that in the fridge.
The advert finishes with a couple of attractive girls opening the fridge and are pleased to find the nice cool and rich Tim Tams as their afternoon snack. Win, win I think.
The point of this story is to draw your attention to the fact that if you cannot succinctly define what it means to be wealthy you may find it a bit of a struggle to become wealthy.
I have expanded on what I mean here: What does it mean to be wealthy Lorwai TAN recording
In essence there are two aspects to consider; firstly the tangible or material wealth. Secondly, and equally important is the intangible, and it encompasses qualities such as good health, happy and fulfilling relationships with most importantly being at peace with yourself.
The dictionary defines (material) wealth as “an abundance of valuable material possessions or resources”. These resources allow you to be financially free which means you are able to live a lifestyle of your desire without having to work or rely on someone else.
To determine if you have an abundance of valuable material possessions, follow this simple exercise. Take a piece of blank paper and draw a line down the middle. Heading one column, write “assets” and the other “liabilities”. This is the quickest way to determine your nett worth. It is basically what you own (free hold) minus what you owe ie how much of that is tied to loan repayments (debt). Hopefully you come out with a positive (in the black) rather than a negative (in the red) number.
So the name of the game is to increase your nett worth. And surprisingly one of the habits you want to cultivate is that of being able to receive with thanks and gratitude the good that comes your way. This may include the odd compliment! Learn to be an excellent receiver and do not deflect or downplay its value.
Remember the Universe is there to do your bidding so if you want material gain, don’t keep turning down the good things that come your way. The Universe will do as instructed!
Success: Plain Hard Work or Just Lucky
Do you marvel at how some people seem to have all the luck, a Midas touch where everything that they attempt is a success on the first pass?
We are dazzled and mesmerized by the apparent ease with which they achieve what they set their minds to do, and right before our very eyes it all seems to happen.
As for the topic of this article, I ask if perhaps there may be a combination of both involved?
Just to illustrate, in Max Gunther’s book How to Get Lucky, he listed some of the characteristics and behaviors that “lucky” people have. Here are 5 of them that anyone can use to get lucky!
1. They prepare and plan
It is just that we do not see the thinking, planning, that operates quietly in the background.
2. They take calculated risks
This means researching and weighing up of their options, and seeking advice from someone who has done and succeeded at what they want to achieve and then taking action.
3. They put themselves in situations where they meet people
Where there are lots of people, there are the seeds and kernels of opportunity. But remember to engage these people and let them know who you are and what you can do for them. If this sounds like networking, it is.
4. They know when to cut their losses
There is nothing sadder than wishing that a bad investment decision will do a Lazarus and rise from the dead. If it is bleeding your cash reserves dry, off load it. Learn from the experience and move on.
5. They have a belief in a Higher Power
I interpret this one as having a sense of destiny and a belief that by being financially successful, they can make a positive contribution in the lives of others.
Now, substitute the word “they” for “I” and step up to the plate.
Yours in health, wealth and happiness