What is Your Money Mode?

You work hard for your money. You have plans and dreams for now and for your future. Sometimes we are so busy generating revenue that we do not think about how we can preserve it or use it to ensure we have a solid financial future. Let’s look at your money mode. 

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Increase is the Key to Better Cash Flow

The purpose of your company’s product or service is to meet a need, solve a problem or create an experience. Focusing your energy and effort on increase allows you to grow top-line revenue and profitability, which creates healthy cash flow.

Here are ways to bring increase into your company:

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Get Your Financial Systems Together

As a women business owner, it is important to leverage your business for less worry and more ease.

To do that, it is necessary to develop and maintain financial systems that give you confidence in your financial stability while having funds for your lifestyle and allowing you to leave a financial legacy that is meaningful to those you love.

If this sounds good to you, follow these steps to get started:

Be Clear: Being unclear keeps you stuck. There is no payoff for that. Clarity sparks action to do the right things in the right order at the right time. Get clear on your income, your expenses, what your goals are and, of course, write them down.

Be Resilient: Develop resilience by overcoming big setbacks and navigating the daily distractions, disappointments and doubts you encounter when you don’t get the financial results you expected. Know that there will be setbacks in your business. Plan for them. Have more credit than you need and always have reserves.

Be Courageous: Talking about finances with your business or life partner can be uncomfortable. Heck, sometimes talking to your accountant can be a little daunting. Be willing to be uncomfortable, ask a lot of questions, ask for what you need and get whatever support you need to achieve your goals.

Be Practical: Simon Sinek says, “It’s the magical partnership of the person with their head in the clouds and the person with their feet on the ground that creates progress.” Make sure you have a financial coach, consultant or partner to assist you in getting all your financial systems in place to thrive each day in your business. Get partners who champion your success.

You have so many talents to share. Follow these steps to ensure that you can continue to bring your gifts as long as you like.

Crazy $exy Money 

Can money be sexy? This is all about the CRAZY, the SEXY and the MONEY.

Celebrate this, ladies! We can make it, save it, spend it, invest it and enjoy it. One of the greatest gifts today is the freedom to be as creative as we want and make money doing the things that we love. Isn’t that CRAZY?

The fact that we can do business in a home office and not have to live the traditional regimen of 8-5, 9-6 or 10-7 is fascinating. Think about it. Even if some of you have a traditional work lifestyle, there are options trending that are making it more lifestyle friendly. Having a business that is lifestyle friendly? I call that SEXY!

Now that we’re clear that we are all crazy and sexy let’s talk about the money. Times are changing and it is important now more than ever to start understanding the changes coming. There will be market adjustments. Your money is subject to losses and fees. Now is the time to at least look at creating that lower risk bucket. The key is looking at your future goals and plans.

In reality, more money will be needed at retirement. Would you rather live with less money or what you’re accustomed to? Many assume less. LIFE Happens. Think about it.

What if you could actually take 10 percent of your annual income today and invest in a 10-year plan that will reduce future taxes, provide protection in a health emergency and grow with compound interest, not subject to loss with lifetime income attached? Would you do it?

The wave of your financial future is here. Let me educate you on a system that could be life-changing for you. That’s Crazy $exy MONEY for you!

The Power of 10

With so much conversation about money and ideas on what and where to put it, do you ever just want to ask the question, can you HELP me?

Then we start talking about it to friends and now as a group, we are all the expert.  Sometimes with everyone acting as the expert sharing what they thought did or didn’t work, has now become more like the old game we played as kids called “Telephone.”  The words passed from ear-to-ear change and ultimately the information is incorrect. We may hear about someone’s unfortunate outcome with an annuity. When the person was actually put into a plan that wasn’t correct for them in the first place. They only know the pain of their particular experience. After hearing all of this you now become mentally paralyzed.  In reality, there are some great annuities that will pay you for the rest of your life and can be transferred to a beneficiary:  Win-Win.

Example: An income of $100,000

How about that saying of putting 10 percent of your money away annually for retirement?  Let’s put away $833 a month for the next ten years.  It almost seems unattainable. First reaction, “Oh my gosh, are you kidding me?”

Now if I say to you, let’s create a plan for ten years based on your income of $100,000 and fund it with $10,000 annually with guarantees that you will not only have growth capped, meaning that there will be a ceiling and a floor so that you never lose principle. Growth is compound and guaranteed; one that will offer you a larger amount to pull from in case of an emergency, will reduce future taxes and pay you a tax-free income for life. WHAT WOULD YOU SAY?

We need multiple streams of income going forward. Are you ready?

 

How to Translate Your Vision to Dollars and Sense

Your vision doesn’t capture your heart until it captures your wallet. –Andy Stanley
How excited would you really be if you knew that your cash flow and profit aligned and truly supported your vision and values? Would you be more passionate about growing your company? Business needs cash flow like you need oxygen. It is vital for your company to grow well. Creating clarity allows you to make more money AND keep more of what you make. Here are four ways to grow your business well.

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Your Financial Sandcastle

Is your financial sandcastle sturdy or is it washing away? I had the pleasure hearing Michael Bernard
Beckwith, founder of Agape, speak about goals using a sandcastle analogy. It made me think of how we as a population can be that way with our finances.

It is time to take innovative action with regard to our finances, especially this new year 2017. There are actions that were taken before the election that will be game changers as we, as a country, move forward.  

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IRS Institutes Private Debt Collectors

calculator-1044173__340Close to 20 million people owe a combined total of $400 billion in back taxes to the IRS. Several million taxpayers have payment arrangements, and another 7 million people owe tax payments. In the latter part of 2015, Section 32102, Fixing America’s Surface Transportation (FAST), was put into law. This act requires the IRS to use private debt collectors for delinquent debts.

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Managing Bills/Paperwork for Someone You Care About

accountant-1238598__340Do you or someone you know have the responsibility to manage a family member or friend’s bills and/or important papers? Do you review the information to make sure everything being paid is needed?

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New Filing Deadlines/Penalties for Forms W-2 and 1099

1657641Last year legislation was passed regarding 1099s and other forms issued by employers. When The Trade Preference Extension Act of 2015 passed, it increased the late filing and failure-to-file penalties for several forms. Fees will be charged if forms were not filed by the due date, not having all the needed (or correct) information, and also if the intended recipient of the form did not receive it timely. Depending on the failure, the penalty increased from $100 to $250 per return. Businesses who purposefully do not follow the filing requirements fees will double, from $250 to $500. If a company intentionally has filing failures, the fee charged is $1,000 per form, with no cap on possible penalties.

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