10 Things Every Unlimited Absolutely Knows

There are many roles and attributes that describe the unlimited woman. She wears many hats and sometimes finds herself being as much as she can be to everyone. Yes, she is strong, sometimes weak, she is hopeful, sometimes a little unsure, and yes she is fearless but at times she lacks a little courage. Regardless, of the  emotions she experiences in life, the unlimited woman is sure of the greatness that she possesses.
She's unlimited not because of her titles, but because of the greatness that she is and is destined for. The unlimited woman is unlimited because she has developed and maintains a mindset and a spirit about herself that carries her gracefully through her journey.
There are specific truths that the Unlimited woman is absolutely sure of as she maneuvers through her journey in life and business.
Her purpose, gifts, and mission in life are non-negotiables because she knows how impactful they are to her family and community.
Here are 10 Truths the Unlimited woman believes:
1) She is purposed to lead, nurture, build, and heal others as she is empowered and healed.
2) Despite loss, brokenness, or tragedy, the unlimited woman knows she can overcome and is not designed to be a loss. She recognizes that oftentimes pain from these experiences can produce purpose and give way to healing that is greater than the hurt.
3) The unlimited woman recognizes that her greatness is within her, so is her gift, and that she is greatness.
4) She knows that her mission is not only for her but for others to assist her in moving her mission forward.

5) The unlimited woman knows that she must be aligned with like-minded, forward thinking, mission driven, community-conscious individuals.
6) She knows that she must balance her hard work and commitment with rest, retreat, & restoration.
7) The unlimited woman knows that her actions, requires goals, which require a plan, which requires accountability, intention, and partners who support her in reaching those goals.
8) She knows that her personal and professional development are ever evolving and that growth is always essential.
9) The unlimited woman doesn't stop at "NO" and doesn't use "I Can't", but she uses challenges as an opportunity to evaluate her strategy, for improvement, and to forge ahead. Purpose is a driving force in her life.
10) The unlimited woman does NOT believe that other women are her enemies, in fact, she embraces the uniqueness and strengths of other women.
The unlimited woman ultimately embraces all of who she is and the gifts she is blessed with to use in the world. This woman whether she realizes it yet or not is the woman deep down inside of all of us.  She not limited by any thing that seeks to disturb her from her highest level of greatness. The unlimited woman has replaced the the "I Can't" mindset with a "I Can & I Will" mindset. Everything that the unlimited woman sets out to do will teach her something of value. Are you ready to take the limits off of your life?!

If you are looking to align with other unlimited women and continue to evolve personally, professionally, & take your actions to another level --- Join Heal a Woman to Heal a Nation.
About the Author: Cassandra N. Vincent is the creator of The Cassie Brown Project and loves to inspire women to live their most liberated lives. Connect with Cassie at Unlimited You Weekend April 10- 12, 2015 www.unlimitedactions.com for more.

The Major Mistake You’re Making with Personal and Business Money

If you have a business or a side hustle you want to turn into a business, then let’s talk about a major money mistake that happens often and how to avoid it. Revenue from a business is a great way to rake in more income or the path to living life on your own terms. Perhaps you’re selling a product or offering services. It’s been hard work, many sleepless nights, and skipped outing with friends, but now you’re bringing in revenue. Great! Here is where many start to make this major yet common mistake with their money.

Whether you started the business to supplement income from your primary job or you’re full-time working your business, you may be using some money from your personal account to purchase things for the business and using business funds to handle personal expenses. You’re likely using personal money or income to fund the business anyway right, especially as a new entrepreneur. You’re the first investor. I know I was my first investor. I started my business with personal savings, but I avoided a major mistake when doing this and I want you to avoid it too or correct it if you’re already doing it.The major mistake is mixing your personal money with your business money. Here is why this is a big mistake and can cost you money later.

1) You can’t show positive cash flow. If you’re consistently mixing your personal funds with your business income to make business and personal purchases, it’s hard to show positive cash flow into your business. You won’t be able to properly assess the health of your business and adjust your strategy to ensure continuous revenue and growth. This looks very sloppy and high risk to investors, so they’ll want no part of it. You have to be able to see exactly how much revenue is coming in and the amount of expenses the business has. You should know the exact dollar amount of how much it takes to run your business every month. Are you making that? What’s your profit margin? Will you have enough floater money for your slow months?

2) You’ll pay more in taxes. The IRS will think you have a hobby not a business that means money lost as they deny legitimate deductions. They will only allow deductions if you can clearly show that the expenses were for business. You don’t want the nightmare at tax time of sorting through old receipts and combing through bank statements trying to determine if something was a real business or a personal expense. Definitely not.

How to AVOID this:
1) Have separate bank accounts. You should have separate savings and checking accounts for your business. Only use the business account for business expenses and only use your personal account for personal expenses. It looks more professional, you will look like a real business owner if the business name is on the check or debit card. The money can be clearly tracked and the IRS is less likely to audit you or deny deductions. One of the first things I did after officially filing my paperwork was to go to a bank and start a business checking account. I felt so official once I got the debit card. I kept looking at my business name on it and smiling.

2) Pay yourself a salary. If you’re thinking but the whole reason I started this business is to supplement my income, no worries. You will be cutting yourself a check like an employee. You own the business so simply write yourself a check or transfer the money from your business checking account to your personal checking account. Start off with however much you need $25, $300, $3,000. Just be sure not to go overboard. Leave funds in the business to cover operating costs at minimum.

3) Create separate budgets.  Design a personal budget that is completely separate from your business budget. Of course include your salary line item and if you give funds to your business every month include a business line item as well. Also, account for the salary and income in your business budget. Budgets will help you see what your operating costs are for the business and operating costs for your household. You can then make sure those aforementioned line items make sense.

4) Use separate tracking software. You know I’m a big proponent of tracking your money. Track your personal and business income and spending, just don’t use the same account or system. You can use something like Excel and have separate files and folders for the business vs. personal funds. Or use accounting software such as Mint or Quicken for personal and Quickbooks or Xero for business funds. I like Mint for personal and Quickbooks for business.

About Dr. Maria James
Dr. James, The Money Scientist, has expertise with designing income management, debt management, and wealth strategies to help you live your best life. She is the founder of Pocket of Money, LLC and the creator of The Wealth Protocol™. Dr. James has also been a guest financial expert on ESSENCE, WEAA, Madame Noire and more. Connect with Dr. James in Baltimore, MD at the Unlimited You Weekend, April 10-12, 2015. Visit www.unlimitedactions.com for more details.

Is Your Money Prepared for the New Season?

Summer is coming to a close. Every year you prepare yourself for cooler temperatures, getting children ready for school, school buses on the road, and to rake leaves and warm the car in the mornings. As you prepare for the changes to your routine you also need to get your money prepared for new expenses and do a financial fitness check up.

1) Check your home. Check the insulation on windows and doors. No or insufficient insulation will allow heat to escape and your heating bill to climb unnecessarily. Can we say major money leak. Also check the insulation in the walls of your home, that is important to trap the heat too. If you're renting have your landlord do a check. I once had two months of a $300 gas and electric bill. The culprit? A living room window was cracked at the top and was letting my heat escape. If you see a crazy jump, something is wrong, start checking.

2) Do a financial check up. There are several things that would be good to check during this time. Do at least these three.

Net worth. You've been steadily working on growing your money for several months. Calculate your net worth to see how you're doing. Is the number a little bigger? If so you're moving in the right direction.

Spending plan. How well is your spending plan working? Determine if you need to shift your plan, such as increasing or decreasing target amounts for specific categories. Did you plug all money leaks? Perhaps you decided to keep a subscription when you made the plan, but looking back realize you really haven't been using it. Well then cancel it, cut it from the plan and shift the money towards something else. Put the money towards a category you're struggling with sticking to the allotted amount, savings, paying down debt or investments.

How much closer are you to your goals? The numbers will show if you're making progress towards your goal. Are you on track to complete your goal by the deadline that you set. If not what can you adjust to stay on track.

3) Shop smart. We know the best times to purchase clothes is at the end of a season when there are big discounts as stores prepare for the change in inventory for the new season. However, if it is unavoidable and you have to buy new fall gear for yourself or family members try this. Shop at thrift stores and discount chains. You'll be able to find cool new things at a much lower cost. Many times there will be items with the tags still on them. You just have to dig around a bit. Look for online deals and coupons. Don't use your credit card. I repeat don't use your credit card. 

About the author:

About the author: Maria James has a compassion for people that makes her involvement in Heal a Woman to Heal a Nation a sure fit. She is a biomedical scientist who is public health conscience and has always worked for the betterment of others. Maria is the founder of Pocket of Money, LLC which provides tools and tips to help you take control of your money and live your best life. Dr. James is our resident Money Scientist.

3 Habits of Millionaires You Should Adopt

We’ve all seen the lists that come out every year naming the wealthiest people in the world and the country. The billionaires and millionaires, individuals whose net worth are in the millions and billions not the people who simply make millions (yes there is a big difference). People who build wealth tend to be focused. They keep their eyes on the prize and most think big and outside the box. These traits combined with some other key habits are exhibited by millionaires and are the reasons they have and keep their millions.  Here are some concrete habits you should adopt.

Habit #1: Millionaires are frugal.

When people think of the word frugal most go straight to the concept of being miserly, instead of careful with money or not wasteful.  Usually a frugal person is considered to be a cheap person who tries to skimp on everything. However, let’s turn that on its head. Millionaires are some of the most frugal people. You may immediately think, yeah sure they are…that $500,000 car and multi-million dollar home is really frugal. But it’s true, millionaires are frugal. For example, I watched an interview where Warren Buffet, the second wealthiest person in America at a net worth of $58.5 billion, said he’s had the same wallet for twenty years! Twenty years! If anyone can afford a new wallet then Warren Buffet can right. However, it’s not just about the fact that he could afford it. He spends on what he truly enjoys and is frugal about everything else. That’s the true luxury in frugal living (the motto you see blasted on this site). Spend as extravagantly as you want on the things that you love and be frugal with the things that are not as important to you. Sure, millionaires have very expensive items and toys but they made sure to have the income or assets to pay for those toys before they purchased them. No credit used. No debt incurred.

Habit #2: Millionaires keep it slow and steady.

You don’t see millionaires trying “get rich quick schemes.” There are proven methods to build wealth and increase your net worth and they aren’t quick or overnight, with the exclusion of inheritance or winning the lottery. The term is “build wealth” for a reason, you must build it. You will need to use long-term money solutions such as a 401(k) and investments outside of retirement accounts to build wealth. Continuously contribute to retirement accounts to reach your nest egg goal; yes you should know how much you will need, the exact dollar amount. You have to know what the prize is to keep your eyes on it. Investing takes time to see steady gains. The average return on investment in today’s market hovers between 9-10%. I would need to write several articles to explain details about investing, but basically you need to leave the money in the market for years to see such returns. 

Habit #3: Millionaires buy assets not liabilities.

When you get your paycheck and you make a list of the things that you’re going to buy, what is on that list? Is every item a liability, something that you will spend money on that doesn’t make you any money? If yes, then you’re falling into the cycle that many of us do. We use all of our income to purchase liabilities and don’t spend any money on purchasing assets. Assets are things that bring in money without you putting additional money, time and energy. Millionaires work on continually acquiring assets or investments that can bring in money. Create a plan on how and when you’ll purchase more income generating assets.

Pair your determination, focus, and knowledge with these habits so you too can start building wealth and raising your net worth. You can do it. 

About the author: Maria James has a compassion for people that makes her involvement in Heal a Woman to Heal a Nation a sure fit. She is a biomedical scientist who is public health conscience and has always worked for the betterment of others. Maria is the founder of Pocket of Money, LLC which provides tools and tips to help you take control of your money and live your best life.

Successful vs Unsuccessful People

Your habits and mindset has a great influence on your success, success with finances and life. The above infographic has been circulating after MaryEllen Tribby posted it on WorkingMomsOnly.com. It goes through some great tips and habits that you should institute if you want to be successful and some that you should drop to avoid not reaching success (notice I didn't say failure). There are definitely some key elements that should be highlighted.

 

1) Continuously gather knowledge and learn things that will help you move forward. When trying to accomplish a goal, learn all that you can about the subject. Learn about the tools and resources available to you to assist with accomplishing your goal. Unsuccessful people don't actively gather information and don't act on the knowledge that they do have. There's a vast amount of information available to help you master your finances and reach financial success. Actively seek it out and apply the knowledge when you acquire it.

2) Giving to others is necessary. Don't horde what you know and don't try to step on others to reach your goals. Many people have a fear of letting others know what they know, of giving to much away. You want others to help and promote you without doing the same for others? It doesn't work that way. Share information and tools and others will be more likely to do the same with you. If you come across a great resource for saving money, cutting costs, etc share the wealth and let others know. 


3) Accept responsibility for your failure. The fact that this is listed on the successful people side of the graphic says a lot. You cannot reach success without some failures. Don't give up in the face of failure. Learn the lesson and use that failure as a stepping stone to do even better. Say you wanted to pay off your debt and made a plan to do so but along came an emergency and you had to incur more debt. Establish an emergency fund so you'll be better prepared next time and move forward.

About the Author: Dr. Maria James
Maria James has a compassion for people that makes her involvement in Heal a Woman to Heal a Nation a sure fit. She is a biomedical scientist who is public health conscience and has always worked for the betterment of others. While an undergraduate student at Johns Hopkins University she co-founded an organization called STOP, which taught basic self-defense to women and children. Her has a passion for diverse communities led her to live in Costa Rica for three weeks to learn more about the culture and community. Maria also continues to pursue her other interests which include, Spanish and finance. Maria also founded the business Pocket of Money, LLC which provides tools and tips to help you take control of your money and live your best life.

Why New Year's Resolutions are Dangerous to your Money

Many people look at new year's resolutions as a good thing. They make vows to get healthy, save more money, spend less money, give up vices or bad habits and more. Do these all sound great to you? Most people would say yes. However, all of the above are bad resolutions. Why do you ask? Because they are all too vague! What exactly is meant by get healthy? Are you resolved to eat healthier? How? What exactly is meant by save more money? How are you going to do it? How much is more? You have to create a specific plan if you want to achieve these goals. Making vague resolutions is setting yourself up for failure. Do these three steps to make concrete financial resolutions or goals.

1) Write a plan.
Write out what your resolution is. That's the what. Then get very specific as to how you are going to achieve it. What the steps necessary to achieve this goal. For example, say your resolution is to start saving for retirement. Look up what that entails. What is the first step? You need to know about different types of retirement accounts such as 401(k), 403(b) traditional IRA vs Roth IRA, SEP IRA for those who are self-employed. Learn the advantages and disadvantages, money going into the account pre-tax vs contributing after paying taxes on your income. I would go into the differences but that's is an entire blog article itself. Then write out how to start the steps to start these accounts. How much you're allowed to put in etc. You see where I'm going get very specific, write out a detailed plan.

2) Set a date.
For each step in your plan, write a deadline. When are you going to accomplish each task? Writing it out without saying when it should be done is a good way to ensure that it never gets done. Giving each step a deadline will also allow you to avoid getting overwhelmed by the steps and tasks. You'll be able to complete them in an orderly fashion with less stress. Staying with the example from above, if your first step is to learn the differences between retirement accounts, by what date are going to have that accomplished? Put the deadlines on your calendar as a visual reminder so you ensure they get done. Remember each task accomplished takes you closer to your financial goal.

3) Set a dollar amount.
Every financial resolution should have a specific amount attached to it. You have to have a number that you're working towards. At what number can you claim success. If you're resolved to save more money. How much money do you need to save per month, per year? Make it specific. For example, I will save $1,000 this year. Now you have a number. Now you have a concrete endpoint for when you have accomplished the goal. If we stay with the retirement example, a goal with a dollar amount would be: I will contribute 20% of my income. You know how much you make and how much should then be contributed. 

About Your Author: Maria James has a compassion for people that makes her involvement in Heal a Woman to Heal a Nation a sure fit. She is a biomedical scientist who is public health conscience and has always worked for the betterment of others. While an undergraduate student at Johns Hopkins University she co-founded an organization called STOP, which taught basic self-defense to women and children. Her has a passion for diverse communities led her to live in Costa Rica for three weeks to learn more about the culture and community. Maria also continues to pursue her other interests which include, Spanish and finance. Maria also founded the business Pocket of Money, LLC which provides tools and tips to help you take control of your money and live your best life. Meet Dr. James at our 2014 Unlimited You Conference April 11- 13, 2014 www.hwhn.org.

Happy New Year!

Hey there!

We are thrilled to say Happy New Year! We want to start off the new year in true gratitude, so thank you for being a part of our family. Last year was good to us. It wasn't easy but it was good. It had it's challenges but also its triumphs. With your help 2013 was powerful yet, we know that greatness is still available. We're clear that 2014 will be unrecognizable, because while we have big plans there bigger plans in store.

We encourage you to join us in knowing that you are Unlimited! That your future, your dreams, your goals are bigger than you can see right now. The impact that you're going to make in 2014 will surpass the limits that you see. We would love to be with you during the journey.

So let's go! Let's make 2014 the year that made a difference in our limitless life. 

In Sisterhood,
Maria, Monokia, Adia and Mothyna