Chapter 43 talks about PROFIT. This word people often feel the need to say in a whisper, since so many people have made them feel unclean for wanting to make a profit on their creativity and hard work. The freedom to pursue profit is what makes the American Dream become a reality. Today Taylor spoke up for herself and other artist, when Apple decided that they would not pay any of the artists their royalties for the three month trial period of their new streaming service, which they will charge $10 a month. In her words, Taylor explained to Apple “….with all due respect, it’s not too late to change this policy and change the minds of those in the music industry who will be deeply and gravely affected by this. We don’t ask you for free iPhones. Please don’t ask us to provide you with our music for no compensation.”
As you shop, remember your local business owner. Think about how bleak shopping would be if these unique stores cease to exist because they cannot make a profit. Imagine just a sea of Wal-Mart’s or only Amazon on the internet. This country actually has laws to avoid Monopolies since it kills competition in price and selection. When you think about mom and pop store prices being high, stop and ask yourself, why? Mom and pop store owners, up and coming artist, and inventors that are trying to get the word out, need small platforms to launch their ideas. Taylor Swift did not start out as a millionaire and Apple forgot that they started out of a garage of a young computer innovator. Gratefully, Taylor reminded them of the big picture and they have since agreed to see things as she does.
Three cheers to Taylor………Hip hip horary, hip hip hooray, hip hip hooray
Thank you all! Thanks to you, MoneyBags reached its goal of 200 Facebook Likes by midnight on December 31, 2014! This shows the power of goal setting. With that in mind, the following statistics from Personalplan.com1, quoting a Harvard Business study, sheds light on the power of goals.
83% of the population does not have goals
14% have a plan in mind, but are unwritten goals
3% have goals written down
The study found that the 14% who have goals are 10 times more successful than those without goals. The 3% with written goals are 3 times more successful than the 14% with unwritten goal.
When thinking about goals, Dr. Edwin Locke’s theory of SMART goal setting is quite valuable and can help you create your goals. Under his theory, your goals should be Specific, Measurable, Attainable, Relevant, and Time sensitive.
So, in 2015, here is your MoneyBags Mission: Welcome 2015 by thinking about what financial goals you would like to accomplish and write them down SMART-ly. Then, talk to your kids about setting up and writing down their SMART goal for 2015! Don’t forget to check in on your goals periodically throughout the year to see where you are in accomplishing them.
Here is to filling your MoneyBags!!!
“A must buy for any parent…”, says David O task management for teams. England, host of Eye On the Market in his recent Market Minute. We are very excited and appreciate David’s support in our mission of helping parents teach their kids about money. If you agree with our Mission, please help us get the word out by sharing MoneyBags with your friends and family. Take a listen to the spot here:
To learn about David O. England, visit his website by clicking his logo below:
It is official! “MoneyBags A Guide to Teaching Your Kids About Money” has won two Mom’s Choice Awards (MCA) – Gold , in both the Adult Books and Educational Products categories!
“The MCA evaluates products and services for children and parents. The program is globally recognized for establishing the benchmark of excellence in family-friendly media, products and services. The organization is based in the United States and has evaluated thousands of entries from more than forty countries.”
After a rigorous evaluation I am both honored and excited that MoneyBags received the highest awards in both categories entered. Going forward, the book and website can display their respected logo.
Thank you for all your support so early in my journey to education kids about money. Please help me spread the good news by sharing this post via Facebook, Twitter and Pinterest!
When I reflect back on my childhood memories of this creepy holiday, I have several memories. As a kid, what a cool day! Not only do you get to dress up as your favorite character, but you go knocking on doors for free CANDY!!! Plus, for several years I would march in a night parade with my baton group. We had cool glow sticks taped onto our batons so people could see our awesome skills and the older girls twirled FIRE! I always liked this parade, well, that is until the one year the grim reaper came up from behind and scared me of out my shoes! Then, going forward, I was super skittish and always checking over my shoulder for creepers.
As I got older, the holiday just kept getting scarier. When I was in high school, Southern Illinois was the Halloween capital team project management tools. Every year, they would have a record breaking number of people make the trip down to SIU’s campus for their street party. I loved walking through the crowds looking at all of the costumes and just the sheer number of people that came for the holiday. I am excited all over again, since I have found the Disney of haunted hayrides – The Dead End Hayride in Wyoming, Minnesota. Last week I enjoyed the scary and creepy hay ride and maze.
As an advisor, when Halloween arrives, I think of the Money Monsters! Money Monsters are the sneaking creepy things that seem to take money out of your pocket, such as a car that breaks down, or a sick pet that needs to go to the vet. Sometimes, it may be a lost job, or maybe medical bills. The good news is, like garlic for a vampire or a night light for the ghosts in the closet, the best way to chase away the Money Monsters is to build a good cash reserve. Once you have a pool of money set aside for the unexpected surprises, like the grim reaper that scared me, if you are prepared (looking over your shoulder), it makes the Money Monsters look like someone dressed up in a costume.
Parents, this is a great time of year to sit down with your kids and walk them through the Money Monsters and the power that cash reserves has over them. To help your kids anchor this lesson, consider taking some time out of your busy schedule and play a board game that involves money (Chapter 14), such as Monopoly, Pay Day, or Life. As you play the game, talk to them about the amount of cash that they have and to plan ahead for problems that they may run into in a couple of turns. To ensure that the games teach good money habits, make sure to click on the Resources tab and print off the MoneyBags game tweaks.
Wendy did appear on the Miller in The Morning Show to discuss MoneyBags, but sadly the audio for the show was lost. Instead, here is a picture of Wendy getting ready for her on air debut. We hope you enjoy!
On September 22, 2014, from 4 PM until 7 PM, visit the Anne West Lindsey District Library in Carterville, IL, for a MoneyBags book signing event. Wendy Gillespie, MBA, CFP®, and the MoneyBags staff will be on hand to sell and sign copies of MoneyBags: A Guide to Teaching Your Kids About Money. Invite your friends and come share your favorite MoneyBags Moment!
Watch Wendy Gillespie, MBA, CFP® appearance on the WSIL TV’s morning show on September 22, 2014. Together with Jalay Gray they discuss Wendy’s book “MoneyBags: A Guide to Teaching Your Kids About Money” during the morning show.
Chapter 43 talks about PROFIT. This word people often feel the need to say in a whisper, since so many people have made them feel unclean for wanting to make a profit on their creativity and hard work. The freedom to pursue profit is what makes the American Dream become a reality. Today Taylor spoke up for herself and other artist, when Apple decided that they would not pay any of the artists their royalties for the three month trial period of their new streaming service, which they will charge $10 a month. In her words, Taylor explained to Apple “….with all due respect, it’s not too late to change this policy and change the minds of those in the music industry who will be deeply and gravely affected by this. We don’t ask you for free iPhones. Please don’t ask us to provide you with our music for no compensation.”
