Economic Power Now!

Why Does Eating Healthy Have To Be So Darn Expensive?

2011-12-11T06:35:00.000-08:00

One of the main goals for my life is to live a healthier lifestyle. That means exercise and diet. I now consider myself a runner after many years of dreaming about it. I run 4-5 miles 4 days per week. I have been smoke free for 10 years. For the last 8 years I have tried to change my eating habits by becoming a vegetarian. Vegetarians live longer, are healthier, and most of all don't suffer many of the diseases of people who consume meat. But why does it have to be so darn expensive? Or is it? My main reason for not changing my eating habits was cost and simplicity of the recipes.

In my desire to become a vegetarian, I joined some online groups, and obtained a simple, realistic cookbook. My children, unfortunately, had to be subjected to my healthy eating pendulum, so they were very skeptical. I started trying a couple of the recipes and tested them on my kids, and they loved them. As a confessed Ms. Krab, here are some tips on eating healthy, Cheap.

Vegetarian on the Cheap
1. Make a decision to change your lifestyle. Change starts with a decision.

2. Tell everyone about your decision. As you stuff your mouth with chicken and other meats say what you'd like to be eating or not eating. Don't worry about the strange looks. Keep speaking it. Your mind, and actions will catch up.

3. Do it slowly. As a best friend of mine reminds me, I jump into things with both feet. That can be disastrous. Take your time. Don't throw away all meat from your home, just commit to not buying anymore.

4. Get a good, simple cookbook. I fell in love with Vegan On The Cheap by Robin Robinson. The recipes are easy and all of them are not more than $2 per serving. Also, 99% of the ingredients can be bought at your local Walmart, Publix, and the Farmers Market. By the way I got the book from my local library and I've renewed it 2x. I will now invest.

5. Calculate the cost. Sure it may appear cheaper to buy meat and already made items. However, in the long run you will end up buying high blood pressure medication, high cholesterol medication, and insulin. Pay now or pay later. Your choice.

It's useless to learn how to give, save, and spend and not live long enough to enjoy it. God wants you prosperous, not just in your finances, but your health also. We can live healthy and cheap. Join me this year in developing a life of total prosperity!

For more information in developing a more prosperous life,visit www.economicpowernow.org

Are Your Money Issues All In Your Mind?

2011-12-10T06:38:00.000-08:00

When I teach personal finances, one of the first things I try to tackle are thought processes about money. There is a strong correlation between your finances, and what you think. Sounds so simple, but it isn't. Your thinking about money, how you handle it, and your potential for earning and keeping it, has to do a lot with upbringing, habits, and what you have said or not said.

How Can You Change Your Money Mind?

1. Recall if you can the destructive words and actions you experienced in your environment about money.

2. Acknowledge that those words and experiences contributed to your destructive behaviors. No condemnation. This process helps you gain internal freedom.

3. Develop the picture of how you want to handle your money-literally. Meditate on it. Dream about it. Focus on it-daily.

4. Journal: Write down how you feel when you think about gaining control of your finances.

5. Read everything you can about how to handle money to achieve your financial goals.

6. Attend workshops, seminars, and if necessary, see a personal finance coach to help with the practical side of money management.

7. Develop a mantra/confession that you say daily a for yourself on how you want to handle money. For example: "I'm out of debt, all of my needs are me, and I have plenty more to put in store."

Changing your finances starts with changing your mind.
Success begins and ends in the mind!

For more information on changing your money mind, visit: www.economicpowernow.org

Does Financing a Car Mean It's More Reliable?

2011-12-10T05:26:00.000-08:00

If you purchase a brand new car then it will come with a warranty that covers major parts and possible mechanical issues that may arise for something like 3years or 36,000 miles whatever comes first. However, most cars are financed for 60 to 84 months, so once the warranty ends, (let's say 3 years) you will have to pay for those problems, unless you buy an extended warranty and most often they are limited in what they cover.
Paying cash for a car is the way to go, but as one mechanic put it, you are inheriting someone else's problem. There are mechanics that are willing to inspect the car for you before you purchase, but they offer no guarantees. The risk is on you.   Either way, once you've determined the kind of car you want, talk to a reputable mechanic to get his feedback on repair history and potential repair costs based on his/her experience before you buy.

What should you do?

1. Paying cash is always best. If you have been a victim of the unstable job market, these days it's   better to own than finance.

2. If you pay cash, don't spend it all. Keep 20-50% of the purchase price in a savings account for   repairs. Be realistic, and prepared, there will be repairs.

3. If you don't have the cash to pay for the vehicle in full, by all means see if you can do short term financing that includes a warranty. Your local credit union and some dealerships offer that option. Do it with the goal to pay off the loan as quickly as possible. That is a last resort.

Car shopping armed with wisdom as opposed to desperation is advised, whether you finance or pay cash. An informed consumer, is a powerful consumer.

For more information and upcoming workshops on personal finances, visit: www.economicpowernow.org

The Luxury of Life Insurance

2011-11-03T18:36:00.000-07:00

For the last nine months in addition to providing financial literacy programs, I have worked as a life insurance agent. Mainly to supplement my income and help families gain the protection that they need in the event of an untimely critical illness or death. As a financial educator and coach, I find that many people do not include life insurance in their budget. I am often told that it is a luxury. If purchased, it is the first item to go in the event of an economic crisis. Understandably so. I mean you can't see it, touch it, or feel it's impact-until you need it. When I would try to get people to purchase life insurance I would compare it to car insurance. But honestly, there is no comparison. You will eventually see, and experience the repercussions of not having car insurance much sooner than not having life insurance. For instance, no car insurance, you lose your license, and you cannot drive. That's the law. However, there is no law regarding life insurance. If you die and you have no insurance, the burden is then transferred to the love ones left behind.

Two days ago I met with a woman to work with her to get life insurance. At the beginning of October, her husband was killed on the interstate when walking back to his car after helping a stranded driver. He was the sole provider for the family, and he had no life insurance. Two weeks ago, a colleague of mine finally convinced a stubborn 52 year old woman not to allow her life insurance to lapse. She reluctantly kept it and a week later drove herself to the hospital complaining of chest pains, only to die of a heart attack. She had life insurance-reluctantly.

In the field, I hear the dumbest reasons for not having insurance. The main reason is affordability. I listen to this sitting in a home that is filled with all the luxuries money can buy i.e, Smart Phones, IPhones, IPads, 42inch flat screen televisions, named brand clothing and shoes, and cable television.

I am well aware that everyone, including myself is having a difficult time financially. In the last two years I've had to eliminate every luxury item from my budget. And honestly, I am still having a difficult time. However, we have to change our mindset. The bottom line is that you are going to die. You don't know when and neither do I, but it's going to happen. Plan accordingly. Redirect some of that luxury money to life insurance to take care of your loved ones; especially if you have children under eighteen who depend on you to survive. It's your responsibility. Unlike car insurance you won't lose your license and your ability to drive. Not having life insurance will cause additional heartache and suffering in an already tough situation. Do yourself and your loved ones a favor, get life insurance. It's a necessity, not a luxury.

Park the Debit Card!

2011-01-13T09:26:00.000-08:00

Starting tomorrow, January 14, 2011, I am leaving the debit card at home for one week. Anyone want to join me? My reasoning: Debit Cards in the long run, cost more than cash. You don't feel the pain associated with frivilous spending using a debit card as you do using cash. Cash makes you think and consider the true need for the item you are about to purchase. Cash, when it's gone, it's gone; with Debit Cards that's not always the case.

The real reason I decided to do this was when I called to pay my electric bill. I usually pay my bill with a check, but today, I wanted to use my debit card, I was traveling and could not get to the company, plus it was just more convenient, I thought. However, when I tried to use my card I was told that I would be assessed an additional $3.95 convenience fee. To be honest I felt my bill was too high to begin with, I was not at all excited about paying them a fee for the convenience of using my card. How many convenience fees should we pay companies to access our money? Really.

I must admit, I have become somewhat addicted to my debit card, but for some reason today I decided that guess what, it's my money and I will not pay anyone to spend it! These days cash has gotten a bad wrap. In fact, 8 out of 10 people do not carry cash. Cash is not the problem. It's our lack of discipline, planning, and organization that is the problem. How many of you out there are receipt hoarders? Do you really record every transaction that you make with your Debit Card? Guess what, you might forget. Plan accordingly, carry cash. Join The Center in a fast on Debit Cards. Let's kick this addiction with CASH!!

Get Organized-Financially

2011-01-10T10:40:00.000-08:00

Since we are at the beginning of a new year, I thought we should discuss a topic that is probably on everyone's mind-getting organized. Most of us try to start the new year off with new and goals and plans for our lives, but how much time do you spend getting organized, financially? Let me pose a couple of questions, and if you can immediately put your hands on this information, you are probably organized. Let's see.

1. What is your net worth?

2. How much is your life insurance policy ( at work and outside of work) and with what company?

3. What are your total liabilities?

4. Where are the last seven years of tax returns?

5. Do you have your Social Security statements?

These are just a few things you should have at your fingertips. For example, what if someone offered to pay off all of your debts if you could tell them to the penny how much you owed? It would be crucial to know the exact amount. I talk with people daily, and most often they have no idea of their net worth or total liabilities. People, these are things that must be at your fingertips, both online and in a fireproof filing system. If you are a couple, both parties must know where the information is located and be able to access it as needed. It makes no sense to develop goals for your finances if you have no idea where you are currently. You must know where you are so that you can plan your next route.

We at The Economic Empowerment Center, Inc. want to help you get financially organized. Contact us to schedule a Get Organized-Financially workshop where you will receive the tools necessary to get your finances in order this year. Commit this year to not only say what you want to see happen in your personal finances, but DO what it takes to make it a reality!

It''s Not What You Know, It's What You Execute

2011-01-01T12:40:00.000-08:00

2011 is here and for lots of people it was a much anticipated fresh start. 2010 for some was a difficult year, and for some it was a year of dreams come true. Whatever category you find yourself in at the start of this year, not one of us can deny that we have a lot to be thankful for. Last year when The Ecnonomic Empowerment Center, Inc. expanded to Jacksonville, FL the underlying premise was to to provide financial literacy programs for youth and adults that would empower them to take control of their personal finances. Seminars, workshops, and individual counseling sessions were held to educate participants on the financial habits needed to realize their goals.

However, this year the goal is quite different. We at The Center have found that knowledge is everywhere. We are living in a knowledge based society. The internet, social media sites, and networking provide us with an overload of information. I had a meeting scheduled with a prospective client and the day of the meeting he canceled. His reason, " I know all of this already, I have tons of books, I just have to do it." This comment got me thinking-you know he is right. In most cases we know that some of the financial decisions that we make are not sound. We know that car payments, credit card debt, and second mortgages are not the way to go. We know that we should live on a budget. We just don't do it. It makes absolutely no sense to pay for information and not use it. Unfortunately, we do this every day. Years ago we could blame our parents for not providing us with the financial know-how needed to survive in this country. Now, I'm not so sure. The information is out there. Budget templates, software, courses, it's out there.

You hold the key to your financial future. YOU. Stop blaming others. Stop making excuses. Stop being lazy. Stop procrastinating. Just do it. All the know-how in the world won't change your financial picture. It's not what you know, It's what you execute. Begin today. Commit to obtain the knowledge needed to excute and draw the financial picture your want to see in your life.

The Economic Empowerment Center, Inc., is here to help. Attend the Money Management 101 course held at UNF every Monday everning from 6:30-8:30 pm beginning January 24, 2011. Contact UNF @ 904-620-4200 to register.

Cell Phone Rip Off!!!!

2010-09-01T07:57:00.000-07:00

I pride myself on being frugal. I make every attempt to stay informed about good deals. I have had my cell phone carrier for at least 7 years. I have been very satisfied with their coverage area, service, and thought the pricing was comparitively low; until recently. Could someone please tell me why I am paying $9.59 per month in surcharges and $33.56 per month in Government Taxes & Fees!! I am also paying an additional $4.99 per month because I did not enroll in their automatic bank draft program.

Now I know for most of us IPhone, Blackberry, and Droid users this may mean nothing. "So what," you may say, "I have a phone with all of these great Apps and it is sooo cool."

A couple of months ago I met and spoke at length with a first generation multi-millionaire. He lives debt free, drives a paid for vehicle (has never had a car payment-ever), and has a plain old cell phone. No apps, no email, only talking and texting capabiity. His stated that he had a laptop and an office whereby he could check his email, and he didn't need to be bothered with it on his phone every minute of the day. He had a set time of day to respond to email,s and if it was urgent the person could always give him a call.

Wow! I thought all successful people had the latest and greatest phones to keep on top of thier company and/or jobs. As a business owner, it seems to be expected that you have a Blackberry or some other type of Smart Phone. You can't be serious if you don't. Talk about adult peer pressure. But what if you had a plain old cell phone. You could talk. Hence the name cell PHONE. I can't attribute the excessive taxes and fees to the features of my phone, but I do know that I can have the same features for much less.

I'm thinking of switching to Metro PCS. They offer unlimited talk, text, and all of the other features we love for a set price per month. Taxes and surcharges are built in the price. This is not an advertisement for them, beause I have not made a definite decision. I made mention of it to show that you don't have to pay the ridiculous price to have a phone. In some cases, cell phone bills are as high a weekly grocery bill for a family of five. There are options gang. Explore them all before making a decision. Sometimes we just need to get back to the basics. It's a PHONE guys. Just a PHONE.

Giving Back

2010-08-23T19:26:00.000-07:00

Today I was reading in Success Magazine, September 2010 about Giving Back. As I read, I realized something- you can become financially independent by giving.

When I talk with people about giving I am always told "I don't have enough to give," or " when I hit the lottery I will give," and lastly, "when I get my finances straight, I will give." However, if you survey people who are financially independent they will tell you that they had a giving program in place BEFORE they became wealthy, not after. When you give, you will receive. That's just God's law. Let's examine how giving benefits you BEFORE you become wealthy.

1. Studies show that when people give to others it makes them feel better. They have a greater release of endorphines.

2. People who give live longer. The release of endorphins builds your immune system, boosts recovery from surgery,and helps you sleep better.

3. People who give are more positive in their lives. Giving allows one to take the focus off themselves and place it on other people, thus their problems are minimized.

4. Giving can help you discover your passion.

Giving doesn't necessarily have to only be money. Your time is a precious commodity that can be given to help teach people to read, feed the homeless, or mentor a wayward child.

Monetarily speaking, a giving plan should be a part of every budget, no matter your salary. You don't have to give big, but you must give. Everyone one that I counsel and every financially successful person that I have studied, has always had a giving section of their budget. Oprah, Michael Dell, the Kennedy's, all gave BEFORE they became millionaires. In fact, most successful people attribute their success to their giving plan. Giving with the right attitude, will yeild a return. There's no doubt about it. It's God's law. Consider implementing a giving plan in your budget. Try it. It may be challenging at first; just know nothing worth doing is easy, but it will be worth it.

Contact The Economic Empowerment Center, Inc., http://www.economicpowernow.org/ for help with implementing a giving plan in your budget. Make giving a way of life. Start today!

Common Man Prosperity

2010-08-13T10:10:00.000-07:00

I was in church on Wednesday, and the pastor talked about this subject. I thought it was a subject to ponder so I had to share it.

In life we are taught to list our dreams, develop vision boards of what we want materially, socially etc. We are encouraged to purchase magazines and cut out pictures of the things we want, like cars, homes, boats, vacations etc. Dream Big we are told-and so we do. There is nothing wrong with dreaming big, nothing at all. But honestly if you are having a difficult time meeting your basic needs, perhaps that should be a goal FIRST. I mean really, if your are utilizing overdraft, can't celebrate your anniversary or spouse's birthday, obtaining a Mercedes AMG, may not be something you want to focus on- yeYET.

What about the Common Man things. Like celebrating your spouses birthday the way he/she always wanted. What about taking a family vacation for one week to Disney or a cruise.? What about being able to have two functioning paid-for vehicles that you are proud to drive? What about being able to respond to a family emergency that would require you to purchase a plane ticket? What about going out to eat as a family once per week to take the pressure of the spouse who cooks? What about being able to pay the household expenses when the bills arrive in the mail? What about a 6-12 month emergency fund if you lose your job? Common Man stuff.

Now I'm not telling you to forgo your dreams- no way. I have plenty. However, I'm merely suggesting that you focus on some very basic Common Man goals first, on the way to the big ones. You've gotta crawl first before you run. Set some Common Man goals for you and your family and work on those first. If you are found to be faithful with little, you will receive much.

What Is Money?

2010-08-13T09:50:00.000-07:00

This blog was contributed by Zeneta Richardson:

Ask someone to define money and many will tell you it's something they don't have enough of. Some will say the more you have the better off you are. Others would say it's the root of all evil. It could be all or none depending on your relationship with money. Like a marriage, understanding is the key to a healthy relationship. In order to have a healthy relationship with money the first thing to do is understand what money actually is. Money has more than one meaning and more than one purpose. Money is a medium of exchange, a unit of account, and a store of value.

• As a medium of exchange money is used in place of a barter system. For example, you need a flatiron and the only thing of value you posses is a fax machine. That means you will have to find someone with a flatiron who is willing to trade it for your fax machine. That is if you both agree that the flatiron and the fax machine are of equal value. In short, money is a convenient way to facilitate the exchange of value of goods and services.

• As a unit of account, money interprets prices, cost and profits. For example, you want to buy a diamond watch. If the watch is only $20, you can be certain that there are no real diamonds in that watch. The value of the diamonds is based on the amount of money one must spend to buy them or the amount of money one can make by selling them.

• Money is also used as a store of value. The money you make today, if not spent but invested wisely, can retain or increase its value over time.

Knowing the function of money in society is one of the first steps towards using it to live your best life. Develop a healthy relationship with money now, and it can take care of you forever.

Racisim Is An Economic Issue?

2010-07-08T19:10:00.000-07:00

I was listening to a message from a very well know pastor on finances. One statement he made was, "Racism is economic and not cultural." Wow! I literally had to pull over on the side of the road and meditate on that. Racism is economic. Why? We could discuss all day the sociological reasons for poverty. However, when you think about it racism is truly an economic problem. Of course we can cite instances of cultural racism, too many to name. However, there are instances of economic racism in our country. Just think about it. Better schools are in districts where the income per household are higer. Better stores are in areas where the income per household is higher. Be honest, how many beer billboards or cigarette billboards do you see in the more affluent areas of town? I'm not prejudice by any means. However, when we talk about financial education, this is something to ponder.

So what do we do? Educate. I am not saying that education alone will do the trick; but education with the proper implementation techniques, will empower people to begin to look at their situation and take control of their finances by getting the information they need. Racism definitely has its roots in economics, but education can destroy those roots. Start now by getting yourself, your children, your children's children the personal finance education that they need and deserve.

The Best Graduation Gift-Ever

2010-05-05T19:45:00.000-07:00

This June my eldest daughter Jania will graduate from high school. This is one of the many milestones that our children will face. Graduating high school, then college, then marriage. Hopefully in that order. As parents we want to be sure that we are equipping them for life in the "real" world. But honestly what exactly does that entail? Is it talking about the "birds and the bees," admonishing them to stay away from alcohol and drugs, or encouraging them to focus on school and getting good grades so that they could have a career that they enjoy and pays well? I would say all of that is correct. Unfortunately, one thing we neglect to teach in detail is personal financial management.

I speak with countless parents who have sent their children off to college only to have to reel them back home because of poor financial decisions. Honestly, whose fault is that? Our schools are so bombarded with teaching to pass the FCAT that the basic life skill of personal finance is taught only in an elective course, and given about two days of focus out of an entire semester. So the responsibility falls on the parents. Unfortunately, us parents have had to attend the personal finance school of hard knocks. Tell me, is that what you want for your children? Do you want to leave your children with the money management legacy you have received? Give them a leg up. If you are not sure how to teach it, enroll them in a program.
The Economic Empowerment Center offers Money Management 101 for Juniors and Seniors in High School. Do your child and yourself a favor, equip them for the "real" world. Contact The Center today to schedule a program for your Junior or Senior. It is truly a worthwhile investment.

Your Credit Score

2010-03-28T22:09:00.001-07:00

Now more than ever the discussion of credit scores are widespread. Youth to adults are more concerned than ever with thier credit score. Companies are popping up promising a quick fix to repairing a damaged credit score, but how legitimate are their claims? How and why do we have a FICO credit score, and how accurate is it in determining one's ability to take on or pay off debt? What impacts your score? Is it timely payments, too much open credit, or no credit at all? These days it appears that every financial decision you make impacts your score-positively or negatively.
There are people that pay their credit card and other debt prior to providing for thier family's basic needs, to protect their credit score. But how do you protect your score?How do you keep it from goin down, and how do you legally increase your score? Knowledge is power. I invite you to attend The Economic Empowerment Center's workshop entitled, "Your Credit Score" where you will learn everything you need to know about the Credit Reporting System, and how to survive and bounce back after a credit disaster. For more information visit our website: www.economicpowernow.org or

Marital Bliss

2010-03-12T09:33:00.000-08:00

Do you realize that the #1 cause of divorce is finances. More couples split, argue, and commit adultery because of financial issues in their marriage. Pre-Marital counseling has become big business. In fact, most churches will not marry a couple if they have not received proper pre-marital counseling. But do they ever provide pre-marital financial counseling? I believe some do but I'm not certain that it is as in-depth as it should be.

I am divorced mainly because of finances, and I strongly suggest that before you plan that big day; before you buy the ring, before you announce to the world that you will spend the rest of your life with someone, GET PRE-MARITAL FINANCIAL COUNSELING! It is the best thing you can do for you and your mate. In my business I talk with couples who commit to one another for the rest of their lives, but they don't trust each other. They hide money from one another, bills, debt; and yet have families together. It's amazing! How is it that we can align our physical bodies, claim we love one another and not be truthful about one another's finances? Then when a divorce is filed, we find that our mate was not being honest; they hid money or bankrupted the family. Do yourself, do your mate, do your financial future a favor, GET PRE-MARITAL FINANCIAL COUNSELING before you make another move.
Trust me, you must do everything you can to learn about the financial past, present, and future habits and intentions of your prospective life mate. An investment on the front end can save you thousands of legal fees and heartache on the back end. Contact The Center for more information.

Should Teenagers be given a credit card?

2009-12-18T12:30:00.000-08:00

A couple of days ago, I was speaking with a friend of mine when she stated that she was going to allow her soon to be 18yr old daughter to have her first credit card. Her reasoning was that it would teach her how to manage money and provide security for her in the event of an emergency. Wow! How ridiculous!

We as a country are in excess of 1Trillion dollars in debt. We live on credt and where has it gotten us as a nation? Further in debt! It is my firm belief that yes, we should have some sort of monetary emergency fund, but a credit card should not be it. A credit card provides instant security or rather a false sense of security. We have become such a microwave society that the concept of teaching our children to SAVE is foreign and seen as something to do in addition to having a credit card; when in fact it should be the most important part of the money management. However, it takes to long to save. It requires patience, and discipline and we as a society are lacking in those two areas.

Instead of encouraging our children to depend on money that doesn't belong to them, we should be encouraging them to save a small portion of what they earn, to create the kind of financial security that cannot be guarenteed by a credit card. VISA charges you interest for their security, why not teach them how to earn interest instead of paying.