3 Reasons Why We Don't Prosper Financially

Pop Quiz!!! I’m sure most of us have vivid memories of an elementary school teacher making this announcement. I used to cringe. Have no fear! This quiz will be quick and painless. Please answer the following questions…

1.       Who is the wealthiest African American female?

2.       What basketball legend became a billionaire last year?

3.       Which hip hop artist was reported to have made $3 billion from the sale of their product line to Apple?

4.       What does the acronym FIN stand for and do you know your FIN?

5.       What is your FICO score?

6.       When will you be debt free?

I’m sure you answered Oprah, Michael Jordan and Dr. Dre respectively to the first three questions. But what were your answers to the last three questions? Did you have an answer? I usually try this little experiment as an ice breaker at my seminars and workshops and no matter what 3-4 questions I ask about pop culture, the participants are engaged and shouting out the answers. Then, as you’ve probably figured out, aren’t as quick to answer the questions that pertain to their personal finances because they don’t know. My job as a Money Coach isn’t to make anybody feel bad. It’s to help us become aware of this mindset and realize that it’s more important to understand and have an active role in their own lives. In other words…know what’s going on with YOUR money! This is particularly important for women.

You see, there are three reasons why people do not prosper financially:

1.       Lack of financial literacy. Fewer than 2 in 10 women feel “very prepared” to make wise financial decisions. Half indicate that they “need some help”, and one-third feels that they “need a lot of help”. (Financial Experience & Behaviors Among Women 2010-2011 Prudential Research Study) Not to mention, in 80% of the nation’s households women are the primary decision makers regarding purchases. (People Support, as cited on www.womanmotorist.com) However, women are least likely to have a financial planner or money coach.

2.       Lack of a written financial game plan. The average life expectancy for women is 81 years, compared to 73 years for men. (The Social Security Administration) The fact that women are less likely to sit down with a professional to map out their financial future is very dangerous because even though women have longer life expectancies, when asked how much they were aiming for in retirement savings, women aimed lower, with a median goal of $200,000 versus $400,000 for men. (Retirement Fitness Survey 2010) So it’s even more important for women to make sure they are on track for retirement. Most people I sit down with are more concerned with running out of money in retirement than dying too soon. It’s still important though to address both concerns.

3.       Lack of accountability. Life is full of ups and downs...peaks and valleys. Statistics show nearly two-thirds of U.S. women ages 40 to 79 have already dealt with a major financial “life crisis”, such as a job loss, divorce, death of a spouse or serious illness. (AARP, “Understanding Women’s Financial Needs and Behavior” 2007 survey) So having a money coach who has a vested interest in your financial success is essential to helping you navigate the twists and turns that life can bring about.

As you can see, women have a very specific set of needs when it comes to creating a financial strategy. If you have financial concerns, need to ask questions or would like assistance in taking inspired action to create the life you desire, please send me an email. I pray this information was helpful. Brightest blessings!

Misty Muhammad

Financial Strategist/Money Coach

muhammadmisty@gmail.com

How to Stay the Course

How can you storm past the obstacles in your path to success? 

Imagine you're running a race on an obstacle course. If you keep your head down and merely jogged you won't have the momentum you need to jump the hurdles (knocking them down won't make you lose points in this race) or scale the walls.

To achieve your ultimate success without being knocked off-course, you'll need two tools:

•      Endurance
•      Destination  

Fuel for the Journey

The best athletes know that rest is as important as practice. In order to knock obstacles out of the way, achieve your goals, and stay the course, take time daily to refuel and recharge. How you feed your mind is just as important as fueling your body. Consider who you're around, what you read and what you listen to as your fuel. We don't want to run our race on empty. Let's build our endurance muscles for those obstacles by feeding our mind and body with the best ingredients and let's educate ourselves on how to best meet our goals.  

Maintain Your Momentum

Although some love moving fast! It's not always best to go from 0- 80, however once we build our momentum and get our energy flowing we're able to regulate the ebb and flow. Some hurdles call for a high leap and others a strategic climb, however, all require momentum. Whether the goal is to lose weight, start a business or save money, you have to be consistent. Hurdles will come, like gaining 2 pounds this week or those super cute pair of shoes on sale, however working diligently with the finish line in mind (even if it's not in view) will help keep you on track.  

Destination = Vision

We know the finish line is there however, we can't always see it. You already know where you’re going so on the other side of a mountain of debt, is financial freedom. On the other side of that paperwork is a non-profit status so you can serve in a greater way.  You know exactly where you're aiming to be, so let's view the markers along the race letting you know where you are. Writing your goals and having an accountability community is so important. Share your vision, it doesn't mean everyone will agree with you however you can find that partner to help you stay accountable to your ultimate goal. You may have heard, "get an accountability partner" before, however its particularly impactful when you're faced with obstacles or stumbling blocks on your path towards success. Make the time, ideally a few minutes each day, to visualize your success. Imagine it! Feel the joy! Truly building out the experience in your mind will help to make it a reality.

Building your endurance for the journey and keeping the vision of your ultimate success will ensure that you turn mountains into molehills.

How will you build your endurance to overcome your current obstacles? Let us know in the comments below. 

About the author: Sister Mothyna James-Brightful is a self proclaimed “Self Love Revolutionary”. She has spent the last decade empowering women and girls to live authentic lives. Sister Mothyna is the Visionary Director and Co-founder of Heal a Woman to Heal a Nation. Sister Mothyna is co-author of Because I am a Queen...100 Affirmations for Daily Living and author of Engage.Inspire. Prevent. Educating Teens on Sexual Violence. Stay connected www.hwhn.org: Twitter @mothyna

Don't Wait for the New Year

Can you believe it’s already November which means 2014 is right around the corner! This is often the time of year we begin to think about doing things “anew”. Many are preparing for the launch of the New Year. We're thinking about the resolutions that we might make, let alone keep. Whenever, I think about the start of a new season, I reflect on the meaning that season will have in my life. Who should I meet? What new endeavors should I take on or let go of….

Recently, I was having a conversation with a good friend who selected a name for her soon to be born baby girl. She selected a name that she loves! The name honors both maternal and paternal grandmothers (much to their delight) but is also has an amazing meaning. In essence the name means “With grace and highly favored by God.” WOW! Powerful and truly a beautiful name. Of course, it made me reflect on the meaning of names. With a name like “Mothyna”, I’m constantly asked…what does that mean? Well, while I have never seen it anywhere else, which means I’ve never found a meaning for my name, I tell folks all the time that I’d like to think it means something akin to “the one whom God has blessed to bless others.” J I’m striving. Ok, so yes the point is that I don’t know… it could mean that or something not so flattering. However, going through this experience with my sister-friend made me think, what is the true meaning of a name? How do we go forward to realize that meaning or can we?

How many times have we met some beautiful lady with a name like Grace yet she is an overly judgmental person or a man named Malik and he is certainly anything but king like? I’m a huge fan of names with GREAT meaning. I believe when selecting a name for a child or person, a name should inspire that person to stretch their potential, but isn’t that only the starting point? The true meaning of a name will be known when that person establishes a legacy through the way that they live. No one looks up the “meaning” of Jada Pickett Smith’s name or Albert Einstein’s and then says this is who they are? Rather we look to their actions, their contributions to the society and the world in general. Quite frankly, it appears those who will tell the “meaning” of your name are those you have touched. Here at HWHN we continually share the meaning of Mrs. Vivian Ryan. To us her name means far more than “lively”. It means the realization of a dream, faith in the potential of the young, quiet elegance and strength. Why? Because if it were not for Mrs. Vivian Ryan and the faith she had in a young 22 year old, HWHN as you know it, would not be here today. For women like Mrs. Ryan, who have nurtured the true meaning within women like us we are forever grateful.

Our actions are as much our definition as the words we may strive to live up to. Thus, the true meaning of ones name lives in the amazing potential for greatness that exists within them. Whether you “hate” your name or love it, its true value grows from within- that essential part of you. So what does your name mean? Are you just living up to your potential or blowing that concept out of the water knowing that your potential is boundless? Are you getting rid of the people, places and things that are limiting your growth? Don’t wait until the New Year, to begin anew, rather each day, brings a new season. Each day is an opportunity to define the meaning of your name. Today is anew…

About the Author: 

Sister Mothyna James-Brightful is a self proclaimed “Self Love Revolutionary”. She has spent the last decade empowering women and girls to live authentic lives. Sister Mothyna is the Visionary Director and Co-founder of Heal a Woman to Heal a Nation. Sister Mothyna is co-author of Because I am a Queen...100 Affirmations for Daily Living. Stay connected www.hwhn.org: Twitter @mothyna

Communicate Your Ideas with Impact

“Good ideas are not adopted automatically.

They must be driven into practice with courageous patience.”

~ Hyman Rickover

      

How many ideas do you have percolating, yet you’re stuck, overwhelmed, and in inaction? What stops you?

     You want your ideas to have an impact – on your business, family, community, or the world. IMPACT^© is the mnemonic for a system I developed that represents the sequence of thoughts and actions that help you position your ideas for profit.

I - Initiate your idea.

Apply critical and creative thinking to choose the idea on which you’ll focus. Then capture your idea details.

M - Mold your message.

Organize your details to give structure to and gain clarity about your idea.

P - Plot your strategy.

Develop your idea implementation strategy. Work with a trusted partner who can see what you may overlook.

A - Attention…command It.

Use techniques that capture people’s attention so that they’ll hear your message and help you implement your idea.

C - Communicate for action.

Employ effective communication and presentation skills to convey your idea and garner necessary support.

T - Terminate assertively.

Ask for what you need to move your idea forward.

     Great ideas occupy smart brain cells. Follow a system to make an IMPACT^© with your ideas and position them for profit.

Author: Sylvia Henderson, Implementation Strategist, helps individuals and teams get out of their heads and into action with their ideas, for profit and purpose. Clients call her the “Clarity Queen of Ideas”. Using her design thinking process called IMPACT©, Sylvia helps you get clear about, develop strategies for, take action on, and be accountable to your ideas. Sylvia’s is the author of multiple books including "Hey, That's My Idea!", and hosts a cable TV program on implementing ideas. Turn your dreams into dollars, concepts into cash, and ideas into impact with Sylvia’s expertise & experience to guide and encourage you.

90 days Until 2014! Are you ready?

Wow! There are only 3 months left in 2013! This time of year we prepare to gather with loved ones and we realize the year is quickly coming to a close. Let's plan to push hard in the final 90 days of 2013! Setting clear goals for the next 90 days is great way to start.

Set Clear Goals....

Often we declare a desire to get fit, get out of debt, get more organized or finally start that business. Many of us come up against real challenges bringing those desires into reality. Thus too often it remains an elusive dream. We must elevate our dreams to goals. The difference between a goal and a dream is a set lifeline. (Example: I will finish my business plan by Feb. 1, 2013.) Well, did you? As we set goals to help us reach our dreams, every action is bringing us closer to the reality we truly desire. Therefore, we are breathing life into creating our future. In order to achieve our dreams we must set goals that breathe life into our very existence, which all connects back to our unique purpose in the world. So instead of a deadline let us set Lifelines when we are moving toward our dreams.

Have you ever said, "There isn't enough time in the day"?  In reality we have the same about of time as billionaires, world class athletes or your favorite 5 year old. Life isn't about time-management. Can really manage time? Rather, let us focus on managing what you do in the time that you have. Instead of setting large vague goals by the end of the year, start with goals you can accomplish within each quarter. There are 4 quarters in a year, comprised of 3 months each, which is a roughly 90 days a quarter. Set goals per quarter which is not as intimating as a whole year and allows you to push yourself. Let's go 90 days left!

For every goal set, make sure you've noted milestones along the path. A milestone reminds us that we're on task to reaching the big goal. Sometimes we think we're not hitting the mark because it doesn't look the way we think it should. However, you won't know unless you've created markers are milestones along the way. Think of it this way, this is not a sprint rather it's more of a marathon. In every marathon, there are markers along the path. Those signs are a reminder that you may not have reached the finish line yet but you're one more mile toward accomplishing your dream. At each mile, there is a crowd to cheer you on and each mile feels like a win. Too often we come closer and closer to our dream yet we don't even know it because we haven't taken the time to celebrate our small wins along the way. Celebrate your wins!

Start now!!! I've said this a few times already but it's worth repeating. We all have dreams, yet there may be negative chatter in our heads saying we can't do it. Or it's too big and we sometimes give into that voice and say we'll do it later. "I'll start in January" is a favorite stall tactic. WHY? Start now. We'll never be less busy. There is no guarantee we'll have enough money later. The only guarantee we have is NOW. Give yourself the gift of your dreams and start in the present. It may not be easy but you are worth it. Remember, success and failure are both products of our thoughts.  So remember set clear lifelines for your goals. Identify milestones in the beginning of the process and most importantly start now.