Archive for the ‘Wealth’ Category
Why is financial literacy a necessary skill for couples in today’s evolving world? According to a survey done by the Huffington Post in 2012, the #1 cause of divorce was NOT infidelity but Financial Stress (and this is a worldwide trend!) Surprised? Well, don’t be. Financial compatibility is very important to the overall health of a relationship because it is a powerful indicator of how other areas will manifest. Is money used as a tool to control and manipulate OR as a tool to empower and create a more loving relationship?
A couple’s mindset on money matters often influences their individual and collective approach to life in general, their faith and how they worship God, their parenting styles, how they show emotions, their spending/saving habits, how they accumulate and view debt, how they solve problems, their relationship with in-laws and other extended family members, their ability to plan, be responsible and the actions (or inactions) they take. 
Is financial literacy important for couples? You bet it is! The present economic climate has changed the dynamics of most relationships, there’s a lot of unpredictability in the business and work environments. Coupled with the fact that women are increasing becoming more educated, thus taking advantage of more career opportunities, the dynamics in most homes have changed.
Furthermore, the era of clearly defined responsibilities for each party in a relationship are fast coming to an end. Most men are no longer the primary breadwinner. Not because of choice or abilities but because of opportunities available and the rising cost of living! Yes, it is indeed time to make ‘money-talk’ part of your ‘pillow-talk’. There’s a pseudo reversal of roles and in some cases, a total blurring of lines regarding the roles for each person in a relationship.
We all know what happens when members of a team have no clear ideas of what constitute their roles/responsibilities: CHAOS, RESENTMENT, STRESS, BREAKDOWN OF COMMUNICATION etc. Besides, we now live in a ‘purpose-focused and empathy-driven economy’ in which more and more people are turning their passions into businesses and taking the non-traditional routes to financial independence and freedom. This often takes a toll on the financial stability of a family. Financial stress is real and must be addressed in time before it degenerates into something more serious!
Here are some general money tips for married couples:
1. Couples must seek to understand and appreciate that they each come from different backgrounds, with different ingrained perspectives of money and wealth management. However, they must willingly and consciously create a common-ground and evolve a united vision that accommodates their respective values, backgrounds, personalities and goals. Each party needs wisdom, a spirit of discernment and a deep sense humility in order to navigate the resulting mesh of cultures and perspectives;
2. As a matter of priority, women must begin to take a more proactive role in the overall financial well-being of their families. This is a role that has been traditionally reserved for only men. Now, more than ever, men seek partners in progress and not merely dependent spouses. And vice versa. Both parties must respect the fact that each person brings value to the relationship. You have something to offer, even if you are a stay-at-home mom/housewife, your ideas and insights are worth more than gold! A team of two offers better perspective than a single individual. Working together also reduces physical, mental and emotional stress and conversely, increases the couple’s ability to bond with and respect each other.
3. Couples must focus on what they want to achieve with money rather than money in itself. Establish the short and long-term goals of the family and also your individual goals. Be specific in mapping out your plans on the type of life you want to live: the home(s) to purchase, cars, children’s education, budget for caring for your loved ones (parents, siblings, family members), mechanism for giving back to society/charities, tithing, set aside funds for fun, entertainment, travel and leisure, professional and personal development/education, retirement and legacy plans (wills, estate planning, trusts) etc.
4. Set boundaries and have clarity on what are acceptable ‘money behaviours’ and what constitute unacceptable ‘deal breakers’. Hold each other accountable and establish consequences;
5. Always act in the overall interest of your family and know when to compromise and make necessary sacrifices;
6. Family budgets: Have a personal budget and also have a family budget. Most importantly, ensure that they both align (note: your personal money goals must not be at variance with the overall family goals, if they are, seek ways to integrate them). Do not become slaves to money by working your whole lives without creating time to spend together; working for hours to pay for a mortgage without actually spending time to create wonderful memories in the home, buying gifts without giving your hearts and placing unreasonable monetary demands on each other, just to keep up with appearances! Make sure that you have a healthy balance between enjoying what money can buy for you and the glorious God-given gifts of love, laughter and life;
7. Have plans and time-lines for moving through the 3 silos of wealth: i. Financial Stability ii. Financial Independence and iii. Financial Freedom. Communicate and be clear on what each phase means to you. Hire a Financial Advisor and/or Money Coach to guide you. You do not know it all! And a third party often offers a unique and insightful perspective;
8. As soon as you get married and/or have children, it is no longer about YOU! You are now part of a team and that team is only as strong as its weakest member. There should be no room for selfishness or anything ‘self’. You must work as a team or risk total failure and misery. This is time to think about various risk management strategies: wills, estate-planning, insurance, long-term care(especially if you have kids with special needs, have a high-risk career or have a family pre-disposition to certain diseases). And hire a financial advisor, money coach or wealth consultant when necessary;
9. Your plans are not permanently carved in stone. Revisit, revise and refine them. Life happens, just don’t let it ‘happen’ to you. Be the one in the driver’s seat. Financial freedom for couples is less about ‘money’ and more about learning to communicate, to take control and have mastery of both the financial and non-financial areas of your life. It is about building good habits and becoming a ‘guru’ at matching your supply to your demand (with lots of room to indulge and have fun!)
10. As you adapt to the ever-changing economic and environmental realities, make sure that all your actions are hinged on basic universal/faith-based principles of love, respect, reciprocity and accountability. Build your financial foundation God, on the divine and universal principles. Make your plans from a place of deep faith, contentment, wisdom, abundance and authenticity! Avoid a head-space and mentality of selfishness, consumerism, ego and lack/mind-poverty. Remember, if the biggest problems in your relationships are money problems, you really do NOT have any serious problems! Celebrate your health, your family, your friends and your passions. Money is merely one of many fruits in life. It is a tool and NOT an end in itself! Focus on the seeds, on the roots and you will enjoy a joyous, purposeful life. Look around and within you, count your blessings and enjoy your relationships.
In conclusion, couples must rise to the occasion and be consciously involved in charting and implementing a joint financial plan, together. They should develop a financial blueprint, be on the same page in order to build sustainable wealth, live a fulfilling life and leave an enduring legacy behind. If you plan well together, you’ll plug your ‘leaks’ and discover that you ALREADY have more than enough.
Interested in learning more tips about navigating financial stress? Send us an email (info@wholewomannetwork.com) and sign up for WWN’s Financial Literacy Program for couples. We use Faith-based Principles of wealth, Neuro-Linguistic Programming, Adlerian principles and plain old ‘common-sense’ to change your money blue-print/DNA and redefine your ‘wealth’ mindset.
Money is not just tangible, it is also an energy. Discover how to live a happy, purposeful life of abundance and not one of ‘lack’ (no matter how much you earn). Learn how to view ‘money’ as a conceptual tool and gain mastery over it!
“A family that Prays together, Plays together, Saves and Invests together, most likely stays together and happily so! Time to make ‘money-talk’ part of your ‘pillow talk’, resolve your money matters today before they become serious life matters tomorrow! ” ~Whole Woman Network~
Live beautifully, live passionately, live freely.
————————————————————————————————————————————————-
Remember, you are not ordinary, you are divinely unique.
You are WOW (Wonderful One-of-a-kind Woman)!
w(H)olistically Yours,
————————————————————————————————————————–
The preceding is a guest post from Juliet Ume, MBA –Wealth Management Consultant & Life-Coach at Whole Woman Network. Juliet is an avid Life Connoisseur and a passionate advocate of WomEntrepreneurship, Investment & Financial Literacy for women. Her mission is simply to engage women to return to ‘wholeness’ and live Healthier, Sexier, Wealthier Lives using Faith-Based, Scientific and Common-Sense principles! Follow her on Twitter: @wholewomaninc, @julietumeinc
Related articles
- How to Help Your Kids Be Financially Literate (ally.com)
- Jacob Gold: Let’s Talk Money (huffingtonpost.com)
- Money is the new pillow talk (uswitch.com)
- Couples’ Money Secrets: Financial Counselors Reveal Tales of Lies and Debt (dailyfinance.com)
Kick off the New Year with a “90-Day Challenge to a Healthier, Sexier, Wealthier YOU!”
Posted on: January 1, 2013
- In: Beauty | Health | Inspiration | Wealth
- Leave a Comment
“Take the first step, and your mind will mobilize all its forces to your aid. But the first essential thing is that you begin. Once the battle is started, all that is within and outside you will come to your assistance.” ~Robert Collier~
2013 is finally here, a brand New Year !!! From all of us at Whole Woman Network Worldwide, we wish you all a very Joyous and amazing New Year. May you have the best of Health, Opportunities, Memories, Abundance and Love. Thank you for your support, love and participation in our various programs in the past year. Our growth and success would not be possible without you. We appreciate each and every one of you spread across Canada, USA, UK, Nigeria, Ghana, Kenya, Jamaica, South Africa…..
In line with our mission at Whole Woman Network to act as catalysts and motivate women of colour around the world with a compelling call to action, we invite you to participate in our first challenge for the year.
Let’s start off by asking these questions: What is your W.O.W? That is, What are you ‘willing to change in one week’ to get your life on track? What area of your life do you wish to improve the most? What area would have the most impact on all other areas of your life? Health? Relationship? Career/Business, Finances? Spirituality? Physical? Socio-Emotional? Map out your 2013, take action and join WWN’s ’90-Day Challenge to a Healthier, Sexier, Wealthier You.’ Let’s share strategies, action-steps, principles and tips on holistic living. Our 90-Day Program is a common-sense and holistic approach to taking control of your Health, Image, Finances and Relationships…At the core are principles of ‘Self-Love and Self-Accountability.’ Start your New Year with the right attitude!
You will need the following:
1. A Sense of Commitment & Positive Attitude; 2. A Piggy-bank; 3. A Body-Weight & Food Scale 4. A Daily Journal; 5. A Measuring Tape.
Over the next 90 days (from January 1 to March 31st, 2013), we will work together as a community to achieve our individual/collective goals of Healthier, Sexier, Wealthier lives. (This challenge is open to all members, in North America and those resident Internationally).
Your Next Steps:
Step 1: Send us an email to: wholewomannetworkinc@gmail.com with the Subject: WWN 90-Day Challenge. The body of the email should have: Your name, phone number, mailing address and why you want to participate (the first 5 people to RSVP get a FREE gift!!)
Step 2: You receive a confirmation email from Whole Woman Network with a Letter of Engagement detailing your agreement to the commitment required for the 90-Day Challenge. Participants also get added to WWN’S confidential FB Forum for group discussions.
Step 3: Schedule a one-on-one meeting with a WWN Life-Coach to set your S.M.A.R.T goals and expectations.
See below for some key highlights of the challenge.
Each participant receives (For those resident in Canada only):
-A complimentary visit to a Nutritionist/Diet
itian (Chosen by WWN);
-Free WWN branded Tee-shirt for the daily work out sessions;
-A Free WWN-branded daily journal to track your progress;
-Free 1-hour consulting session with a make-up/image/style expert;
-Free attendance of an interactive financial literacy workshop on any topic of interest: investment, debt management, insurance etc;
-A free inspiring book on any of the following areas: women’s health, beauty or wealth management;
-Daily life-transforming tips and coaching nuggets and a network of support from a diverse community of like-minded women;
-A celebratory wrap-up lunch at the end of the 90-Day Challenge with lots of prizes , great networking….And much more!
So ladies, the ball is in your court. Do you really desire a healthier, sexier, wealthier life in 2013 and beyond? Then, take the FIRST step today and say ‘hello’ to the best version of you!!
A huge thank you to the various Subject Matter Experts and partners for sharing their resources. Also, our gratitude to the sponsors of the ’90-Day Challenge’ for donating the wonderful prizes and gifts.
Live beautifully, live passionately, live freely.
———————————————————————————————————————–
Remember, you are not ordinary, you are divinely unique.
You are WOW (Wonderful One-of-a-kind Woman)!
w(H)olistically Yours,
Related articles
- New year, new you (heraldbulletin.com)
- 9 Steps to A Healthier Lifestyle (lorensworld.com)
- 10 Steps to a Healthier, More Beautiful You (dailyglow.com)
- Happy New Year! 2013 Inspiring Others (apertureofmysoul.com)
A personal finance guide for women of colour: ‘miscellaneous expenses’.
Posted on: November 28, 2012
- In: Inspiration | Wealth
- 2 Comments
“Thanks WWN for reminding us to stick to our personal and family budgets. But you seem to forget our extended family system here in Africa. Funerals, weddings, birthdays, relations soliciting for help (and they do it as if it is mandatory)! How do we trim down the spending? I tell you, it is a large chunk! ‘Miscellaneous’, you may call it, but it is often larger than the monthly family expenses.” ~Uche O. U~
Managing ‘miscellaneous expenses’.
The importance of developing a personal budget cannot be over emphasized. However, it is often the issue of sticking with budgets that overwhelm most people. Planning and executing budgets are even more challenging in environments where cultural ties are strong and the extended family system exists. The beauty of the extended family system cannot be argued, but if the associated responsibilities are not managed properly, the result may be high stress levels, breakdown of relationships, high debt loads and the ‘Iroko Tree’ syndromes and/or the ‘Stolen Luck’ syndromes, just to mention a few.
(Refer to this post for more insights on the ‘Iroko Tree’ and ‘Stolen Luck’ syndromes).
A critical factor that makes sticking with personal budgets difficult is the state of the economy; stagnant growth, high unemployment rates and a ‘middle-class’ that is in fact the ‘working poor’.
For women of colour, (living in their home countries and in the Diaspora), the topic of personal budgeting should be addressed in a holistic way. They are often catering to multiple interests and carrying varied responsibilities, sometimes as ‘co-bread winners’ for their parents, siblings, cousins, nephews and other members of their kith and kin. It is not strange to find one person responsible for the tuition fees, medical bills and rent of other people in her extended families, besides her primary responsibilities to her nuclear family. It is no wonder that this topic resonates deeply with many.
In individual conversations and group coaching sessions among women across different cultures Caribbean, African, Persian, European, Latin American and so forth, miscellaneous expenses associated with extended family members, remains a huge obstacle to achieving balance with personal budgets.
Here are some basic principles for managing ‘miscellaneous expenses’
- Make a budget so you have clarity on your earnings and immediate household expenses;
- You can plan for uncertainty because there’s already the certainty of an uncertainty happening. Make provision for miscellaneous expense (based on historical estimates). You can budget for miscellaneous expense by actually including it and earmarking an amount (Fixed monetary sum or as a percentage of your earnings);
- Track your miscellaneous expenses over a few months and then track gradually over a year. Categorize them: What are you spending most on-Burials/Birthdays/Weddings/’Aso-ebi’/Gifts/School fees/Personal loans/Social events/Medical Expense/Daily living?
- Try sticking with your budget for at least one month, and if any extra expenditure arises, you roll them over to the next month.
- At the end of each month, check for variations between your estimates and actual spending.
- Re-Prioritize: How important are these things to you? What can you forfeit, what adds value, what is essential and what is non-essential?
- Make a list of who the recipients are. Prioritize your recipient list. High up on your list may be your parents, siblings, mentors and those who sowed positive seeds in your lives. You may add them to your monthly fixed expense, depending on your situation.
- There are people on your list who should be weeded off that list or educated on money matters before adding them back on. (Someone in the Diaspora gave an example of a cousin, a university undergraduate, who had asked for financial assistance to buy some back-to-school materials. From her part-time earnings, she sent her a few hundred dollars, only for her cousin to rudely inform her that the money was not enough to buy her MAC line of cosmetics, much less her designer line of tee-shirts. And she was even admonished by this said cousin for not taking up over-time hours like her other nursing colleagues! Compare this to someone who needs financial aid for a medical condition or to pay tuition fees. The difference is as clear as crystal).
- Study and analyze the seasonality of requests and activities, when are the highs and lows: Holidays/Beginnings of school term or semester/Particular time(s) during the year? Adjust your budget accordingly to align your cash-flow with these timelines.
- Be clear on the difference between a loan and a gift to people, especially to family members.
- Avoid loans to family members/friends unless you truly trust them and/or from the onset, you are ready to write-off the amount. This helps you in two ways: i). it helps to preserve the relationship should they default. Ii). it eliminates the cash-flow flow problems that may arise for you if the loans are not paid back.
- People need a hand-up and not a hand-out, know the difference!
- Consider giving certain people bulk sum of money to either start a business/go to school/learn a skill, so they become truly independent rather than encouraging and enabling them to become perennial beggars. A one-sided relationship often ends badly with a lot of resentment because every human being has an innate need for self-actualization and self-mastery.
- If #.13 above is a challenge to undertake alone, consider pooling resources together with other friends/colleagues/family members, in order to achieve these worthwhile goals. You may also consider collective giving i.e. something that serves a group or community rather than individuals, such as setting up cottage industries, micro-loan programs, building or renovating schools, health care and skill acquisition centres.
- Hold yourself and others accountable so you may create the right balance for your overall well-being. Also, remember to put yourself on the list!
—————————————————————————————————————–
The preceding is a guest post from Juliet Ume, MBA –Wealth Management Consultant & Lifestyle Coach at Whole Woman Network. Juliet is an avid Life Connoisseur and a passionate advocate of WomEntrepreneurship, Investment & Financial Literacy for women. Follow her on Twitter: @wholewomaninc
Related articles
- Personal Budgeting: Build Your Budget (quicken.intuit.com)
- Finding Your Personal Budget Strategy (apartmentguide.com)
- Demystifying the ‘Iroko Tree’ and ‘Stolen-Luck’ syndromes (wholewomannetwork.org)
- Personal Budgeting: Keep More Cash (quicken.intuit.com)
- In: Inspiration | Wealth
- 3 Comments
Milicia excelsa tree (Iroko) at IITA-Ibadan (Photo credit: IITA Image Library)
-Iroko Tree Syndrome: A belief that you are financially better than everyone around you and once they ask you for any form of help, you gradually (and willingly) assume the role as their sole source of sustenance and help them with just enough to get by and never get up. And by extension, you expect eternal servitude from them and make yourself beyond reproach. This is a belief steeped in ego, greed and self-importance. (This is also referred to as the art of over-rating oneself!)
- Stolen Luck Syndrome: A belief that you are unworthy of success and that there are those who have been either been blessed with or have ‘stolen’ your luck and so they owe you a piece of their earnings. Thus, you willingly and clearly relinquish all sense of personal responsibility to others. An idea steeped in mental laziness, envy and a defeatist attitude. (It is also referred to as the art of purposeless living!)
“It takes courage and wisdom to give and receive; it is not only that we give of yourself, time and resources that counts, more importantly, it is ‘HOW’ we give. Give with graciousness and an open heart and be humbled for a chance to serve God in others. To do otherwise robs the receiver(s) of self-respect and diminishes their dignity. The same goes for those on the receiving end: ask with grace and a humble spirit, for no one owes you anything, nothing is a birthright…It is better to say no with grace than to ‘give’ with disgrace. Remember, your widow’s mite is always enough”. ~Whole Woman Network~
Principles to manage the ‘Iroko tree’ and ‘Stolen Luck’ Syndromes:
- You cannot give what you do NOT have, do not attempt to play God in people’s lives. Give and receive unconditionally, and not as control tool or mechanism for self-inflicted bondage or slavery;
- You cannot please everyone and it is NOT your responsibility to do so. If you give because you seek to please, you will end up drained, depleted and depressed and everyone ends up unhappy and/or unfulfilled;
- As long as you are clear in communicating your boundaries, they will be respected. People will operate within established boundaries if you are unambiguous in your communication and consistent in your actions. It is your responsibility to teach others how you wish to be treated;
- It is always better to give from a place of joy. If you feel people should be eternally begotten to you because you’ve come to their aid, or you feel resentful/used/manipulated after giving then you have to take a step back and evaluate why you give;
- You always have a choice to say either ‘YES’ or ‘NO’. Learn to exercise both from a place of power and not a place of fear of what people will say or think (refer to #2 above);
- We are all created equal before God. You are no better or worse than someone else. We simply have different opportunities and skills. Our overall mission in life is to serve one another in different ways with dignity, grace and respect;
- Teach people to fish and don’t just hand out fishes (Note to giver: ‘You don’t have enough fishes to give everyone who asks’. Note to receiver: Nobody owes you anything; no one has ‘stolen’ your luck! Your hands are also blessed, so receive with humility and bless the giver);
- If you want to build wealth, you must make sacrifices. Focus first on helping yourself, so you may be in a better position to help others in sustainable and meaningful ways;
- Don’t deplete your ‘Goodwill bank account’ with frivolous requests. Learn to differentiate between what is important/essential versus what is not essential;
- As difficult as it may seem, sometimes people really come to you for help because they have no other recourse. Life can be difficult and challenging especially in this harsh economic climate. Some people truly need the help. Be empathetic, sincere and do the best you can under your particular circumstance. In the end, it comes down to creating a balance between your well-being and your duties/responsibilities. HIS grace is sufficient for us all.
Live beautifully, live passionately, live freely.
———————————————————————————————————————–
Remember, you are not ordinary, you are divinely unique.
You are WOW (Wonderful One-of-a-kind Woman)!
w(H)olistically Yours,
© Whole Woman Network
Related articles
- Living a Prosperous Life (upliftingchrist.wordpress.com)
“Money has some rules attached to it. And if you follow the rules, you’re going to have more stability in your life than if you don’t follow the rules. Doesn’t matter if you’re a man or a woman. The rules are the same: You need to have a plan for how you use your money, you need to have a healthy credit identity, you need to have emergency money and some insurance. I think it’s really important that we come to realize that life is about balance, that it’s not all or nothing. It’s not spending every waking moment thinking about money or spending no time thinking about money, Managing money isn’t really that hard. It requires some discipline and there is some detail involved, but in reality it doesn’t take that much time and the payback is huge.” -Gail Vaz-Oxlade
Why Financial Literacy For women? 
The prevailing socio-economic climate makes financial literacy more relevant than ever. Financial well being is critical in order to achieve a balanced life. This is because it affects other areas such as; self-worth, coping ability, mental health, physical and socio-emotional states. There are many reasons why financial literacy for women is very important:
- Increasing life expectancy among women
According to Statistics Canada, women outlive men by an average of 8 years. At some point in their lives, women would be solely responsible for their financial decisions. It may be due to the loss of a spouse, or even through divorce, separation etc They have to start early to develop skills that will serve them well much later in life.
- The most commonly cited reason for divorces is financial incompatibility
According to the Huffington Post, the No. 1 reason marriages end in divorce: Money problems. A strong financial background by each party in a relationship, with respect to budgeting, debt management, wealth creation and saving, fosters better communication, reduces the burden of stress on either partner, increases the chances of achieving joint and individual goals and invariably creates healthier relationships, overall. Financial Literacy and independence among women also reduces the possibility and extent of abuse in a relationship. And in cases where abuse occurs, women with a healthy financial awareness/means are better positioned to explore and exercise their options.
- Trans-generational wealth transfer (Baby boomers generation)
A sound Financial knowledge is critical for those women who receive any form of inheritance from their parents or grand-parents. There is an enormous amount of inter-generational wealth transfer to women (as widows, offsprings and care-takers).
- Women are increasingly becoming more educated than men
This leads to more opportunities but invariably also means women are acquiring high debt loads via student loans. Financial Literacy is key to managing these debts so they do not lead to poor health and high stress levels, thus wiping off the gains of a good education.
- Social consciousness among women to give back to the community
There is an increasing need to volunteer, make charitable donations and contribute to the society. This is particularly common among the 40+ demographic. This need for fulfillment, connection and commitment to good causes can be achieved with a knowledge of wealth creation and management as it helps to provide the flexibility, time-freedom and resources needed. You cannot give what you do not have.
- Managing the different life stages: widowhood, divorce/separation, single parenthood, empty-nest etc
A sound financial base is becoming increasingly important in order to successfully navigate the complex nature of the present family structures and life-cycles. There are more single parent household more than ever in history and the challenges also need to be addressed. According to the Women`s Legal Action Education Fund, the percentage of single-parent families, headed by women who live in poverty is 52%!
- More women are becoming primary breadwinners in their families
The harsh economic climate has led to a reversal of roles in many households. New money management skills are necessary to adapt effectively to these evolving family dynamics.
- More women are choosing self employment/entrepreneurship as career paths
Women who operate in the fluctuating entrepreneurial or independent contract environment calls for a different mindset and set of money management skills when compared to the more stable 9-to-5 world.
- Due to increasing life expectancy, more women are now in the ‘sandwich generation’
A lot of women are now primary care-givers for both their immediate families and also for their parents and grand-parents. The financial stress associated with wearing these multiple hats is enormous.
- Lack of a systematic financial literacy culture
No one is immune to bad money habits. As women become more educated and successful, there is the danger of also acquiring more debts and responsibilities. And if this exists within a society where most household debts are at an all time high, financial insecurity and instability become the norm, even among college-educated and professional women.
- A need to create awareness for holistic behavioural changes
Women are often the primary nurturers and are critical in shaping the characters of children. A sound foundation of financial literacy among women would enhance the general societal culture and help leave a legacy of sound financial culture to upcoming generations.
Overwhelmed and wondering where to start? Take these next steps:
1. Get a copy of Gail Vaz-Oxlade`s book: `It’s Your Money: Becoming A Woman Of Independent Means.`
2. Read the book and identify 3 tips that are most relevant to your situation.
3. Apply these tips in your life and track your progress.
(If possible, find an accountability buddy so you do this as a team and help keep each other on track).
Ladies, let today be the day you take action towards a Healthier, Sexier, Wealthier YOU!
(Sources: Vanier Institute for the family, Statistics Canada, Canadian Human Mortality Database, TD Economics, Women`s Legal Action Education Fund, Huffington Post).
—————————————————————————————————————————————————————————————–The preceding is a guest post from Juliet Ume, MBA –Wealth Management Consultant & Lifestyle Coach at Whole Woman Network. Juliet is an avid Life Connoisseur and a passionate advocate of WomEntrepreneurship, Investment & Financial Literacy for women. Follow her on Twitter: @wholewomaninc
Related articles
- Top 10 Money Tips to Achieve Financial Literacy (prweb.com)
- Youth Financial Literacy Novel Receives Widespread Critical Acclaim (prweb.com)
- Women Get Better with Money As They Age (money.usnews.com)
- The Hidden Costs of Being a Woman (money.usnews.com)
- Managing money the Maori way topic of hui (radionz.co.nz)
- In: Events | Wealth
- Leave a Comment
Are you an Independent Consultant or Advisor in the Financial Services Industry? Then join us at the Independent Financial Brokers’ Fall Summit:
Dates: Tuesday, November 6th (8:30 am to 5.45 pm);
Wednesday Nov 7th (8:30 am to 3.15 pm), 2012.
Place: Toronto Congress Centre, 650 Dixon Road
Fee: IFB Members – $169 / All others $210
KEYNOTE SPEAKER – Tues. Nov. 6 @ 8:30 a.m. – Nora Spinks, CEO of the Vanier Institute of the Family presents ”Communicating Across Generations.” 
For the first time ever, there are five generations in the workforce (soon to be six or seven); each with their own perspectives, experiences and attitudes. If you are looking for new clients, this is the pool of prospects you are fishing from. Effectively communicating across generations can be frustrating or exhilarating. Learn skills and techniques that will help you navigate generational diversity so you can facilitate connections, enhance communication, and effectively serve new generations of clients.
KEYNOTE SPEAKER – Wed. Nov. 7 @ 2:15 p.m. – Jasmin Bergeron presents ”The WOW Effect!” 
To face the omnipresent competition, brokers will have to find innovative and creative ways to find profitable clients, extend their offering, and provide higher value to clients. To succeed, it is imperative to possess several abilities in business development, win-win selling and customer value creation in order to differentiate yourself effectively. It is in this perspective that the session “The WOW effect!” was developed. This interactive session is based on practice and applicability. It has been developed with numerous successful brokers to adapt it to your needs and expectations. During the presentation, strategies, examples, and real-life success stories will be suggested to make your experience as valuable as possible.
Plus…over 35 great presentations to choose from.
Don’t miss the ‘Evening of Laughs’ featuring rising star, Gilson Lubin. Tickets only $26.95 for buffet dinner, comedy show and transportation!
Kick off the fall season with WWN’s “90-Day Challenge to a Healthier, Sexier, Wealthier YOU!”
Posted on: September 21, 2012
- In: Beauty | Health | Inspiration | Wealth
- 1 Comment
In line with our mission at Whole Woman Network to act as catalysts and motivate women with a compelling call to action, we invite you to participate in our last challenge for the year. Let’s start off by asking 3 questions:
1. Are there areas of your life that you desire to improve upon? 
2. Are you ready to get off the fence and take a step towards the life you dream about?
3.What is your W.O.W? That is, what are you ‘Willing to do in One Week‘ to change your life for the better?
Over the next 90 days (from September 21 to December 21), we will work together as a community to achieve our individual/collective goals of Healthier, Sexier, Wealthier lives.
Your Next Steps:
Step 1: Send us an email to: wholewomannetworkinc@gmail.com with the Subject: WWN 90-Day Challenge. The body of the email should have: Your name, phone number, mailing address and why you want to participate (the first 5 people to RSVP get a FREE gift!!)
Step 2: You receive a confirmation email from Whole Woman Network with aLetter of Engagement detailing your agreement to the commitment required for the 90-Day Challenge.
Step 3: Schedule a one-on-one meeting with a WWN Life Coach to set your S.M.A.R.T goals and expectations.
See below for some key highlights of the challenge.
Each participant receives:
-A complimentary visit to a Nutritionist/Dietician (Chosen by WWN);
-Free WWN branded Tee-shirt for the daily work out sessions;
-A Free WWN branded daily journal to track your progress;
-Free 1-hour consulting session with a make-up/image/style expert ;
-Free attendance of an interactive financial literacy workshop on any topic of interest: investment, debt management, insurance etc;
-A free inspiring book on any of the following areas: women’s health, beauty or wealth management;
-Daily life-transforming tips and coaching nuggets and a network of support from a diverse community of like-minded women;
-A celebratory wrap-up lunch at the end of the 90-Day Challenge with lots of prizes , great networking….And much more!
So ladies, the ball is in your court. Do you really desire a healthier, sexier, wealthier life in 2012 and beyond? Then, take the FIRST step today!!
In the words of Robert Collier:
” Take the first step, and your mind will mobilize all its forces to your aid. But the first essential thing is that you begin. Once the battle is started, all that is within and outside you will come to your assistance.”
A huge thank you to the various Subject Matter Experts and partners for sharing their resources. Also, our gratitude to the sponsors of the ’90-Day Challenge’ for donating the wonderful prizes and gifts.
Live beautifully, live passionately, live freely.
———————————————————————————————————————–
Remember, you are not ordinary, you are divinely unique.
You are WOW (Wonderful One-of-a-kind Woman)!
w(H)olistically Yours,
Related articles
- Personal transformational leadership (everydayleader.wordpress.com)
- 7 things I wish someone would tell me (femmetotale.wordpress.com)
- Learning with a Life Coach (thequirkycreative.wordpress.com)
- See the glass half full or empty? Why Optimists are Happier, Healthier & Wealthier! (forbes.com)
I recently attended an event that taught me some key business lessons such as delivering exceptional service, generating client engagement and creating a lasting impression. And most importantly, getting those unsolicited ongoing referrals from satisfied clients!
It was a special baby shower for a friend (her first baby at 44 years)! The event planner, who was her 23 year old niece, did a fantastic job of organizing everything perfectly: the venue, décor, food, music, exciting games etc. Some highlights of how she achieved this are:
- Prior to the event, she communicated with the guests (all good friends of the mom-to-be), a couple of times after the initial invite. She articulated her desire to provide an unforgettable and truly special experience for her client and solicited our help. Thus, she was able to get suggestions/ideas from us on what her client values and also got our total buy-in on the project. She did this effectively by creating a private Facebook group where she kept us all engaged, connected and shared updates;
- During the event, she introduced herself to each of the guest individually and shared her appreciation for our input. She made sure that each guest got a personalised gift bag with a thank you note;
- Post-Event, she followed through with an update when the baby was delivered and sent pictures on behalf of her clients to each of the guests who had attended the baby shower.
- She under promised and over delivered-the event itself was a great success but most importantly, she was wonderful in communicating her passion and enthusiasm for her craft;
- She definitely lived the mantra ‘Excellence is a habit, for how you do one thing is how you’ll do all things’. This is because although she was doing event planning as a hobby, she still took it seriously and gave each client her very best;
- The greatest business lesson I learned from her was that she saw the event as a networking opportunity and followed up with an engaging and well written letter. (I have her permission to share an excerpt below):
“It was a pleasure meeting you a week ago at the baby shower of my Aunt. I have a small favour to ask. I’m looking to continually grow my services, and to build awareness and good-will, so I’m looking to do more events. So are you aware of any body that would be interested in my services and who would benefit from and be aligned with my vision of holistic event planning that I shared with you?
I can tailor the event to what they truly value, and still make it very interesting and unique.
If you know or come across someone who would be interested, do let me know. It would help me out a lot. If you don’t know of any group of people, that’s perfectly fine, and it was still a great pleasure meeting you this evening”……
Needless to say, like most of the guest I was enthused by the quality and level of service she provided: her professionalism, creativity, deep respect and understanding of the client and guests. And of course, her fire and positive energy!
We have all become strong advocates for her services and go out of our way to refer clients to her. Unfortunately, she is now back in school for her Master’s degree and has put the business on hold for now. However, I can tell you that she has a devoted group of satisfied clients, ready with wallets at hand, just waiting for her to say the words: ‘Open for business!’
Client Engagement and follow-up can be helped with the use of Social media. Examples of how companies use it today as a PR tool to create awareness, engage customers and drive sales abound all around us. In today’s world, every customer is truly King or Queen and they know it! A misstep to a client may cost you millions especially if that one client has tens of thousands of followers on Twitter, Facebook, Tumblr etc.
You must treat every single customer along your entire value chain (both internal and external), as if you were about to lose him/her i.e. that without them your business ceases to exist.
The end result is a devoted client base that is loyal in their patronage and become strong advocates of your brand/products/services.
——————————————————————————————–
The preceding is a post from Juliet Ume, MBA –Wealth Management Consultant & Lifestyle Coach at Whole Woman Network. Juliet is an avid Life Connoisseur and a passionate advocate of WomEntrepreneurship, Investment & Financial Literacy for women. This is a post for the YRSBiz Blogging Circle. The York Region Small Business Club helps small businesses in York Region connect online and in York Region. Their goal is to provide free or low-cost opportunities for local businesses to connect and engage with each other and ultimately to help small businesses succeed.
Related articles
- Personalized gifts make the best baby shower presents (personalcreations.com)
- How to throw the perfect baby shower (personalcreations.com)
- Value Proposition – Engage the Prospective Attendee (eventmanagerblog.com)
- In: Inspiration | Wealth
- Leave a Comment
At the end of this blog post, reflect upon these concepts and answer 3 key questions:
#1. What is your Brand Equity?
#2. What is in your CBA and RBA Accounts?
#3. How strong are your Connections/Networks?
For a lot of Wealth Management Professionals, the goal is to get people to have a plan and invest for their future. Developing a financial plan is the easy part. For the most part all that is needed is a good knowledge and understanding of the clients’ investment goals, time horizon, risk tolerance and so forth.
The more challenging part is when there are not enough resources to invest. Or as a friend rightly told me: “I know I should put away a lot more in my RRSP, TFSA, Non-Registered accounts….but after the bills are paid, I just don’t have any more to put aside, I wish I could invest something other than money”! This played out again as recently as today.
Hanging around with a group of women always brings up interesting and fascinating ideas and scenarios. So here we were, a bunch of thirty and forty-something year old ladies on a lunch break and bemoaning how we all wanted to quit our day jobs and pursue causes, businesses and hobbies we were most passionate about. The list included shopping trips, vacations across the globe….you get the picture! The limitation of this was of course that in the real world bills abound, mortgages have to be paid, tuition fees and student loans were beckoning etc etc.
So, in simple words, you need a regular stream of income to survive and the conclusion is that without money, a lot would not be achieved. Unfortunately, there was not enough to go round or so we assume. What is missing in this snapshot is that most people measure their net worth only in traditional terms- cash and other tangible assets. This is a limiting outlook in more ways than one.
So, my question is this: ‘What if money was not the currency of exchange in the world’? What if instead of measuring our Net Worth in Dollars and Cents, it was measured strictly in terms of Skill Set, Networks, Character and Reputation? What if there was a way to translate your passions, power or influence into a commodity? Before you go rolling your eyes and snorting your nose at my question, consider this: Nowadays, the concept of ‘personal brand equity’ is becoming more and more relevant.
The best people to illustrate this concept are athletes and celebrities and the seemingly incredible endorsement deals they get. Most executive and lifestyle coaches would be quick to point out that for the most part, you are only as good as your networks and relationships. In today’s fast changing world of social media, the twin concepts of ‘Who you know’ versus ‘Who knows you’ are a huge part of our Net Worth (Think ‘Twitter’, ‘Blog Followers’, Alexa rankings….). My point is that traditional ways of assessing personal net worth and even business valuations are evolving.
What is your Personal Brand Equity? What are in your CBA and RBA Accounts?
Brand Equity
How do you perceive yourself? How do others perceive you? Is there a gap? Who are you? What is important to you? What do you represent? Are you authentic? What value do you bring to the table? What is the premium you’d be paid simply for being you? Are you a person of influence? Even without money, do you know you can still make things happen, you can get people to take action and thus accomplish a lot! Do you know that your Net Worth includes the monetization of your passions, skill set, character, reputation and network/connections.
Character Bank Account
This is a measure of who you are in any given situation. Are you someone of integrity, are you consistent, creative and dependable? Are you a value-drain? Or are you a value-adder (You solve problems, proffer solutions, generate ideas, create synergy,
Relationship Bank Account
This refers to a measure of your connections. How strong are your family, social and professional ties? Do you form single, breakable, transactional threads or do you build interwoven strands of solid bonds? Do you only call people when you need something from them or do you really keep in touch with your network and look out for other people’s interest? Are you practicing reciprocity in your connections? Are you a crap magnet, an energy sucker or do you have a positive magnetic personality?
The caveat in all of these, is not only to identify these non-cash assets but to consciously begin to monetize them!
Measuring your Brand Equity, CBA and RBA Accounts
To measure your Net Worth in a cashless society, just think of the above in terms of regular bank accounts and be objective in your analysis: Are you in surplus, marginally breaking even, perennially overdrawn or totally bankrupt?
Imagine that you were a stock. In the portfolio of life, what are you? Are you a blue-chip, value stock, growth stock, penny stock or just plain junk?
Unlike the real world, the alternate cashless society is somewhere that you have the power to be as wealthy as you desire. The beauty is that at some point, there is an intersection between the two and you can be paid a premium for everything you’ve developed and built up in your cashless world. It may be here or in the after life but know that it will have value someday and somewhere!!
I would like to end this post with one of my favorite slogans. It is an apt tagline by Scotia Bank and it is simply this: “You’re richer than you think”.
Yes, ladies, in more ways than you possibly know!
Live Beautifully! Live Passionately! Live Freely!
————————————————————————————————————
Remember, you are not ordinary, you are divinely unique.
You are WOW (Wonderful One-of-a-kind Woman)!
w(H)olistically Yours,
BLOGGER BIO: The preceding blog entry is from Juliet Ume, MBA –Wealth Management Consultant & Lifestyle Coach at Whole Woman Network. Juliet is an avid Life Connoisseur and a passionate advocate of WomEntrepreneurship, Investment & Financial Literacy for women. Follow her on Twitter: @wholewomaninc
Related articles
- Compute Your Net Worth Once a Year – 2012 (americanclarion.com)
- Net Worth Cheat Sheet (divacfo.com)
- Is Your Net Worth Upside Down? (moneymanager.com)
The Whole Woman Network is excited to preview the logo for our Financial Literacy Program!
We’ve started the initial process of getting it Trademarked and hopefully WWN will have the rights to use the Trademark signage in a few months….
P.S: A huge shout out and our heartfelt ‘Thank you’ to Shiva, Parisa, Zoya, Neda and the entire amazing team at Glamourgate Inc, Richmond Hill. Awesome job ladies!!!!
In the mean time, here’s a sneak peek:
Related articles
- The Results Are In: Financial Literacy Education Has Positive Impact (theallaccessblog.org)
- Free Books for Financial Literacy Programs (askthemoneycoach.com)
- Group changing lives by improving literacy (mysanantonio.com)
