MoneyBags Life Blog
On September 20, 2014, come and say hello to Wendy and get your copy of MoneyBags: A Guide to Teaching Your Kids About Money autographed at the Johnson County Junque Jamboree! Wendy and team will be on-hand from 12 pm until 2 pm at the Ned Shed Tent during the jamboree to discuss our favorite subject of teaching money. Come and share your favorite MoneyBags Moment with the team!
The Johnson County Junque Jamboree begins at 7 am in the Vienna public square. Join more than 140 vendors that will be set up around the square, selling antiques, crafts, repurposed items, jewelry and more during the day-long event. For specific information about the Junque Jamboree, call Gary Hacker at 618-771-6877.
Join Wendy on September 20, 2014, for a MoneyBags book signing event sponsored by John Forbes of Forbes Financial Group. Wendy will be signing copies of MoneyBags: A Guide to Teaching Your Kids About Money from 7:30 to 8:15 am at the Southern Illinois Women’s Health Conference on the John A. Logan College campus in Carterville, Illinois.
For more information about the Women’s Health Conference or to register for the event, please visit www.w4hw.com.
For information on Forbes Financial Group , please visit www.ForbesFinancialOnline.com.
MoneyBags hit the front page of Southern Illinoisan Newspaper’s Business section this week.
The article by David O. England can also be found online at the Southern Business Journal at the following link:
http://thesouthern.com/business/local/england-a-rare-buy-recommendation/article_e4a02a78-8bfc-5349-af38-415d8a79319f.html
Hello MoneyBags Managers! In case you missed the live radio broadcast of Wendy Gillespie, MBA, CFP® chatting about MoneyBags: A Guide to Teaching Your Kids About Money on David England’s Eye on the Market radio show, all is not lost.
Our friends at Eye on the Market have posted the segments for your listening pleasure and convenience. After speaking about MoneyBags, Wendy also has a discussion about retirement planning. Take a listen to the segments below and don’t forget to share with your friends. Click the title name of this blog post to enter the post and click one of the sharing options: Facebook, Twitter or Pinterest.
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egment 2
Special guest-author Wendy Gillespie MBA, CPF answers questions about writing her book MoneyBags: A Guide to Teaching Your Kids About Money. http://goo.gl/AEmZuU
Segment 3
Wendy Gillespie answers a critical question-What is it that Investors do not get when dealing with planning for retirement? http://goo.gl/sL2bHc
Here’s to filling your MoneyBags!
Since my book was published, much has happened as the months have ticked away. You may have noticed that my blog posts have been rather sporadic. It was my intent to at least connect with you monthly, but as we all know, life happens. The day that I receive the first copy of MoneyBags in my hand, during my celebratory lunch, I received a call from my doctor who informed me that I had several worrisome abnormal lymph nodes in my chest. This did not come as a large surprise, since the doctor had been running several test on me to find out what was causing my weak vocal cord, which in turn, caused my voice to drop down to a whisper. As she ruled things out, it finally became clear that I had Lymphoma.
After I was diagnosed, I took a step back and was grateful for all the insurance (ingredients) I purchased on myself for such a scenario. Chapter 7 talks about the Money Hierarchy Cake. Level 2 is the Ingredients Level, which is where you pick up insurance. I immediately began taking an inventory of my insurance. Not only did I look at medical, but also life, and disability insurance. It should be no surprise to you, but I am also glad that I have my “old lady insurance” (i.e. long term care) in place too. Working in the insurance industry, it is hard for me to comprehend that my health went from super preferred nonsmoker (the best health rating) to uninsurable (not eligible for coverage) over night.
Like everyone else, I don’t like dishing out the money to pay for the insurance premiums, thinking I would never use it. However, logically I knew it was better to pay the premiums than to have something happen and no coverage in place.
As I reviewed all of my policies in detail, I can tell you that I had peace of mind knowing that if I had to walk away from being a financial advisor and unknown author, that financially, I was going to be just fine. Furthermore, I looked at what would happen if I were to die. Sadly, I don’t have kids, it was not in the cards for me, but I do have a substantial amount of life insurance on me for many reasons. I always joke with my clients that if I die young (when my insurance premiums are cheap) that someone should win the lottery. When I review the beneficiary designation on my life insurance policies, I think about what an impact I can make on where I decide to distribute the money. Even though my parents don’t need the money, I can ensure that they will not need money if I am gone. I have some charities that I allocate to as well as people who are important to me.
Gratefully, I am happy to report that not only am I now cancer free after six rounds of chemo therapy, but I also have regained my voice. Going forward I have a lot of ground to cover. I am looking forward, with your help, in helping parents teach their kids about money, by spreading the word about MoneyBags!
Here is to filling your MoneyBags!!!
Wendy
Wendy Gillespie, MBA, CFP® will be a guest on David O. England’s radio show “Eye on the Market” on Saturday, September 6th at 10:05 am CDT.
To listen to the live broadcast, visit David’s website at http://davidoengland.com/eom-network-radio/ and click the “Listen Live” link.
As I write this I have a HUGE smile on my face. I am sitting on the porch listening to my neighbors (both parents and kids) laughing as they play with the new tetherball in their backyard. This tetherball is very special, since they told me that they bought it with their Family Saving Jar money (Chapter 2)! Woohoo! Way to save that change and create a MoneyBags Moment!
<img class="alignleft" style="width: 269px; height: 189px;" alt="MoneyBags Moment, Pennies" src="http://moneybagslife best team management apps.com/wp-content/uploads/2014/04/4-20BlogPic-300×238.jpg” width=”300″ height=”238″ />My sister has a rewarding job, as a Foster Care Case Manager working directly with foster kids, but today I got a frustrated text from her asking for some wisdom. Basically, one of her foster kids traded two video games ($50) for a bag of chips ($1) and of course she felt he got a bad deal. Did he? I think he was hungry and negotiated with something that did not meet his primary needs (The Plate Level of the Money Hierarchy Cake – Chapter 7). So for him, it was better to eat than to keep the games.
However, I also see my sister’s concern and desire to help, protect, and nurture him. I told her that this is a cheap mistake. It’s a MoneyBags Moment. She now needs to explain to him that both items have a dollar value and she needs him to understand the dollar amount of each item. A poor trade is one bag of chips ($1) for two video games ($50). A fair trade would be 50 bags of chips ($50), for the two games ($50), a good trade is 60 bags of chips ($60), and an awesome trade would be for a semi-truck full of chips ($1500). The sooner he learns this the better he will be a making deals (Chapter 46- Bartering).
Here is to filling your MoneyBags!
Wendy
MoneyBags is happy to announce that MoneyBags: A Guide to Teaching your Kids About Money is now available and immediately shipping from the Beaver’s Pond Press online book store.
With a retail price of $19.95, MoneyBags: A Guide to Teaching your Kids About Money is the perfect gift for new parents and a trusted resource for existing parents on how to teach their kids about how money works. The 52 lessons are easy to understand and explained using real world stories and experiences to which parents and kids can relate. Commit to teaching your kids one lesson per week and you will:
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Teach them how to manage money,
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Learn with your kids how to eliminate bad money habits,
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Teach them to spend their money wisely and save prudently for their future,
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Eliminate the nickel and diming of your kids saying, “I want this, and I want that.”
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Teach them to have respect and be responsible for things, and
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Create a new cycle of wise money management that can be passed on to future generations.
Click here to purchase MoneyBags from Beaver’s Pond Press and join the MoneyBags Mission to help put your kids on the path to future financial freedom.
MoneyBags Sample Chapter
I started this unexpected journey in early 2009. I was surprised when I saw a good friend, who was smart and a good parent, but he struggled when teaching his kids the basics in how to handle and think through money decisions. I then looked back at his upbringing and it all made sense, he only knew what he was taught by his parents and he was passing his limited knowledge on to his kids. So, I began feverishly writing all the things that I had learned. The lessons just poured out one right after another. Pages and pages of money lessons, but then I ran into a couple of problems, there is so much to know and how do I organize the information? More importantly, how do I make it simple and fun?
I then went to my good friend and executive coach at the time, Nancy Imholt, and explained to her this need I had in writing this book. She listened, smiled and got it! She saw a bigger vision than I could at the time. Then my passion became a dream.
I spent my spare time over the next couple of years, writing, researching, obtaining feedback, making changes, began blogging, and focusing on completing the book. At times, the finished product seemed so close, but then there would be a setback, from having no time for writing, to editors that did not connect to me or my vision. Through Nancy, I found my publisher, which linked me up to key people to help me through the process from editors to book designers, and so on. I also had to seek out people on my own to design the logo, web site, illustrations, and other countless tasks.
I was also blessed with cheerleaders. Many of my friends and colleagues have been encouraging, positive, and even anxious as they look forward to the completion of the book I have been talking about for so long. Carlos Rodriguez and Amber Appel have been my biggest supporters. They joined MoneyBags LLC, even though there is not a penny of profit. Their help, input and support is priceless! Also, my future success of the book now depends on me being able to take a little more time away from the office, so I am grateful for Carla Keck, who is my right hand and has my back at every turn. With her at the wheel, I can confidently take time to spread my vision.
So, after many years and numerous edits, within in a few short days the book will be complete. The website will be live. I feel like a little kid at Christmas. I am about to burst from the excitement and anticipation of the long awaited arrival of MoneyBags in my hands. Oh, the overwhelming feeling of delayed gratification! This important money lesson is covered in Chapter 25 of the book. It talks about the famous researcher, Walter Mischel, and his marshmallow test. It explains his findings and the importance of having self-discipline to not always grab, but to realize the bigger reward for waiting.
Here is to filling your MoneyBag!
Wendy
On September 20, 2014, come and say hello to Wendy and get your copy of MoneyBags: A Guide to Teaching Your Kids About Money autographed at the Johnson County Junque Jamboree! Wendy and team will be on-hand from 12 pm until 2 pm at the Ned Shed Tent during the jamboree to discuss our favorite subject of teaching money. Come and share your favorite MoneyBags Moment with the team!
