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Product Details
| ISBN-13: | 9781468545210 |
|---|---|
| Publisher: | AuthorHouse |
| Publication date: | 01/31/2012 |
| Sold by: | Barnes & Noble |
| Format: | eBook |
| Pages: | 108 |
| File size: | 177 KB |
Read an Excerpt
LIFE According to Me
My Life ExperiencesBy Eileen Gonzalez
AuthorHouse
Copyright © 2012 Eileen GonzalezAll right reserved.
ISBN: 978-1-4685-4523-4
Chapter One
Finance According to Me* * *
This topic is the most painful one for me. I have experienced the feeling of not knowing what to do, seeing no way out, feeling my chest get tight and my shoulders tense, and my soul crying out as I'm unable to think about anything else but the current situation. Financial burdens can bring you to your knees, robbing you of your happiness and your peace, and they invade your sleep and interrupt your would-be happy moments in life. Nothing seems to be working, and you feel trapped. The walls around you seem to cave in. I know these feelings way to well. Financial problems cause stress; people can become ill, resort to crime, commit suicide ... I am no expert on the topics of crime and suicide; however, I know desperation, and I also know that my faith and focus keep me going when everything else seems to tighten its grip, trying to suffocate me. It's funny how you can gear yourself to be positive and stay focused—and then here comes your mail with bills and collection notices. Your stomach drops and heart pounds hard ... For a few moments, all that you are doing to get to the right state of mind goes out the door, and fear tries to grab hold of you once again.
As I mentioned earlier, I am still dealing with past mistakes, which have a way of creeping up at times, sometimes all at once. As I write this, I am dealing with issues that I know I must face and resolve in order to get where I want to be. I have the map as to where I am going and the tools needed to get there; I just need to clear the road from some debris left as a result from my mismanagement of money. Remember, no one did this to me ... I did this to myself, and as such, it is my responsibility to repair the damage and get on track with my life. This is where self-pity goes out the door; you must be prepared to be strong and take action.
As far as my "lack of money," I knew that I needed to do something, but procrastination seemed to be my best friend, and I would put off getting my act together until tomorrow. My sister, who is wonderful at finance, set up a cash flow/expense template for me and explained the intention behind it. I have been using this template for several years; however, I only used it mainly for budgeting, which is not how it was meant to be used, and you will see why I say this.
This cash flow/expense template is set up as a checking account and includes the following columns:
• Check number
• Date of transaction
• Transaction
• Payment/debit
• Fees
• Deposit/credit
• Balance
My sister recommended I do the following: (accounts referred to as buckets)
• Open a day-to-day checking account.
• Open a bills checking account.
• Open a mortgage checking account.
• Open a savings account.
• Keep track of all incoming deposits and expenses on a daily and weekly basis.
By doing this, I would be able to manage my money in buckets, and if done properly, I would always have money to cover my expenses and prepare for the future.
This is how the template works:
Bills account:
• Know your bills (such as utilities, loans, credit cards) as well as their due dates.
• Total these up and divide by four weeks to get the weekly dollar amount you need.
• Deposit/transfer the weekly amount needed to your bills account/bucket.
Mortgage account:
• Divide your mortgage by four weeks to get the weekly dollar amount you need.
• Deposit/transfer the weekly amount needed to your bills account/bucket.
Day-to-day account:
• This account should be for such day-to-day activities as buying groceries, shopping, medical co-payments, dinners out, movies ...
Savings account:
• You should begin saving a percentage of your salary on a weekly basis.
• Savings should include several months of security money in case of unemployment or other life events.
Looking at this layout, it should be simple to follow; if you can pull this off as listed above, you can be in total control of your expenses and prepare for a better future. However, I said earlier, I used this more as a budget rather than a tool to get ahead. All I did was move money from bucket to bucket to accommodate or catch up with an unexpected expense. This is not using the template to its full potential. I know this template works because at times I have used it correctly, when focused on vacation. I would determine how much I needed to save and set the plan in motion, capturing the salaries that were expected by certain dates and figuring out expenses. It works ... but you need to be focused. This template will only work if you work it.
One of the reasons I decided to share this with you is because this goes back to a missed opportunity on my part. I was given a tool and shown how to use it, yet I decided to use it in a way that did not help me get to where I needed to be. Remember what I said at the start of this book: it all starts right now. You are faced with a decision, and what you decide will affect your future.
1. If you don't have the money, then don't spend the money.
You may be ashamed to admit that you are short and either hold back on paying a bill or use your credit card knowing you will not be able to recover. There is no need to be ashamed of admitting that you are short on cash. The people you are trying to impress are not impressed at all, and furthermore, it won't help you get the money in the end. Impress yourself by sticking to your goal.
2. Bills need to be paid.
Debt is your financial obligation; you might not be able to pay all the money you owe, but you can set up a payment plan. This will help you appease the collectors. (Don't keep adding to the bill.)
3. Saving money.
Saving money is not always easy, especially if you live check to check. I know this firsthand. But think of what unnecessary expenses you might be able to eliminate and then save that money. It might not be a lot, but you will begin to put money aside. You should aim for 15 percent of your pay (for example, 15 percent of five hundred dollars is seventy-five dollars). Test what percentage works for you and commit to saving money.
4. Security.
You have no security when you depend on others or things. Jobs can be lost, and nature can cause damage. The stock market crashes. You could have an unforeseen illness or accident. You can only depend on yourself, on what you can provide or accomplish. Therefore, you must analyze your situation, plan ahead and take action to ensure that you are not caught off guard.
Money is important in my life, as it is in yours. Without it, we you are unable to have the essentials. However, I have learned that my focus should not be on money but on what I want in life. Some of you, like me, associate money with greed and a false sense of happiness. I felt that money was important for appearances, superficial stuff. All my life I heard that money was evil, and that there aren't many rich people in heaven. My perceptions on this topic changed dramatically, especially after reading The Science of Getting Rich, by Wallace Wattles, and It's Not About the Money, by Bob Proctor, who essentially tell us not to focus on money but on what we want out of life. Wanting more does not make any of us greedy people, and it does not take away our right to heaven (or whatever afterlife you choose to believe in). I am sure that the ability to get into heaven has nothing to do with how much money or power a person has but with how much love is in one's heart—and how much that person shares and gives back to the world. If we measure a person by the love she shares and not by what she has, then I guess it should be as easy or difficult for a poor person to get into heaven as it is for a rich person. You see, greed is in the heart of the person, regardless of having or not. If your heart is full of greed, you won't share or love, as you will see others as wanting to take from you, thus feeling the need to hoard all you can for yourself.
I don't pretend to know exactly what a good person is; however, I believe that a good person helps others just because ... It could be by giving money, providing physical help, listening to those who have no one to talk to, and so forth. Sometimes a hug is all a person needs, and you might be the one to give it. Good people are quick to help and slow to judge. I think this is true with people from all walks of life, whether rich, poor, getting by ... I used to resent people with money, thinking that they must have done something dishonest to get so much. We see it every day; people love watching successful people have problems. We tend to enjoy when these so-called successful people are in the spotlight due to their misfortune. Why is that? Do we really enjoy seeing people hit rock bottom? Or is it that we feel they took something from us? Whatever the reason, it's wrong. Our focus must be on ourselves, on what we need to do to get to where we need to be. Focusing on those who have more than we have only makes us focus on what we don't have, which will only keep us feeling frustrated, without the energy or ability to move forward. For me, those feelings are gone. I no longer resent people with success. Instead, I now admire those who succeed. I'm interested in what they do differently, and I try to learn from them. I do my best to pay attention to how they speak and observe how they carry themselves. I am not concerned with how much the other has, only with how much I feel I am worth—and what I need to do to get my share. What did they do ... and can I do it too?
Be open to learning from those who succeed!
What do I want financially? I have learned that it's not really a dollar value I need; it's the things I can do with money. This concept I learned from listening to my heroes.
• Financial security (savings, retirement, emergency money)
• Travel
• Entertainment (Broadway shows, concerts ...)
• Shopping
• Education
• Health
I want the freedom that comes with having money. It's not about having more than others or power over others. It's about living the life that makes my family and me happy. Can that desire be bad? Absolutely not. On the contrary, it is bad to want it and do nothing about it. It was important for me to get to know me and understand what I want out of life. Knowing this helps me focus on my goals and stay on track. As I stated earlier, I am still working on making improvements in my life, and this is the area of "improvement needed most." However, I am on the right path, as I am aware that right now I have the power to get myself on track. I know what I need to do, and I know that procrastination is no longer acceptable in my life.
It is important to recognize any negative feelings you might have at this very moment and replace them with faith (whatever that might mean to you). Just because this moment is painful does not mean that you can't overcome it. You can, as you are equipped with the tools needed to succeed. You must remain focused despite whatever challenge is surrounding you. Take on this challenge with the same dedication you apply to your job. While at work, you focus on your goals and/or your employer's goals. Therefore, treat this personal goal with the highest priority, as if your boss were evaluating you, and dedicate yourself to attaining it. Nothing is more important than getting yourself on track with your life. This is as true for you as it is for me.
When one door closes, another door opens.
I am certain you've heard the quote above. Well, I have spoken to people who have gone through layoffs, and the majority of them said that at first they were afraid to lose their jobs, yet once they did, they were free to pursue the jobs of their dreams, to go back to school, or even to open their own businesses. They would have not been able to do any of that out of fear of risking what they had at the time. Sometimes life gets tough and an opportunity is right there waiting for you; you just need to see it and grab hold of it. However, you can't see it because your focus is on the current issue. You are blinded by the problem and are unable to distance yourself from the problem and see what is really happening. I believe that God and the universe intended you to have everything you wanted. Not having it does not mean you don't deserve it. It means you have not opened your senses to seeing it, hearing it, and receiving it.
I look at the events of my life and compare them with a huge, devastating storm that knocked down the house, leaving debris all over. In this devastation, my husband and I were left picking up the pieces one by one. There was no one to help us, as each one had his or her own issues to resolve. The debris (too much debt) that was left was too heavy to carry and couldn't be carried off (paid off) at once. Instead, we had to cut through to make it easier to carry (send smaller payments). As we did this, this we were clearing the path to make room for the reconstruction of the house (rebuilding our credit). We were then able to build the house stronger (financial independence) against storms.
In my example:
The storm equals mismanagement of money, which equals the cause.
The debris equals delinquent bills and collection notices, which equals the effect.
I made this comparison by watching my husband working in the yard. He was fearful, for the trees were old and did not look sturdy against heavy winds. He had a plan; he had a little money, so he hired someone to take down a couple of the largest trees, and he took out the others, knocking them down himself. Then the yard was left with many trees on the ground, and we had little resources to clear the yard. He got help from family, cutting the big trunks into smaller chunks and pushing them aside. Each weekend, I watched him go outside and work in the yard. He was on a mission, to clear up the yard with little to no expense. As I looked out my bedroom window one day, I saw that he was almost done. His determination had paid off, and the goal was almost completed. I knew that he would not turn away from his goal until it was completed to his satisfaction. This is the same determination we must employ with all our other issues ... including debt.
With every challenge we face, there is opportunity. Open your mind. Be prepared to see and hear; don't miss opportunity when it shows up.
Many years ago, I worked for an insurance company that allowed me to work from home, which at the time was great, for it allowed me to be with my kids and attend school functions without missing a beat at work. I would have never left that job, despite not liking whom I worked for, not making good money, and not having growth opportunities. I would have held on just to be able to stay with my kids. Well, after three years, I was part of a layoff. I was called into a mandatory meeting in which I was given a package containing my rights, information and a two-week severance check. When I got home after receiving the news, I went to my computer and found that my access had already been removed. All that was left was to follow the instructions provided and pack all the equipment and work documents, returning them to headquarters the next day. As I packed the work equipment, I felt as if I were in a procession to a funeral of an old friend. I was heartbroken, not knowing what my next step would be.
Despite the heartbreak and the paltry two-week severance package, the job did not leave me stranded. Actually, it taught me valuable skills. I was capable of working independently, with little to no supervision, and due to my experience with management, I had formulated in my mind that I wanted to lead—and do so as I envisioned leadership to be, which was more of a partnership with my team. That layoff, sad as it was, was a step forward for me.
Being let go from the insurance company actually allowed me to try different jobs, which prepared me for my current position as a manager at the company where I'd wanted to work for years. All the steps that followed my layoff were in preparation for the job of my dreams. Now, I realize that things can change in a blink of an eye, and that tomorrow I might be in a different situation than I am today, but I also clearly understand that with change comes opportunity. Today I understand that the key to being successful in my finances is to be responsible and learn how to manage my money effectively.
(Continues...)
Excerpted from LIFE According to Me by Eileen Gonzalez Copyright © 2012 by Eileen Gonzalez. Excerpted by permission of AuthorHouse. All rights reserved. No part of this excerpt may be reproduced or reprinted without permission in writing from the publisher.
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Table of Contents
Contents
Preface....................ixIntroduction....................xiii
Finance According to Me....................1
Parenthood According to Me....................11
Tough Choices According to Me....................15
Love According to Me....................19
Work/Career According to Me....................21
Determination According to Me....................25
Health According to Me....................29
Helping Others According to Me....................31
Positive vs. Negative Feelings According to Me....................33
Faith According to Me....................39
Deception According to Me....................47
Lessons Learned....................49