Several years ago, I sat down with an MLM insurance company rep. I know what you're thinking. "Girl, run. It's MLM!" Well, it was one of the best things I ever did. This is where I learned about paying off debt with the snowball method. I also learned the importance of getting life insurance. Best of all, they explained the difference between whole life insurance and term life insurance. It was the beginning of a new awakening for me. At the time I didn't think I had a need for a lot of the products they offered, but boy did Sept. 11, 2001 change my perspective...
Not only was Sept. 11, 2001 one of the most traumatic days in U.S. history, it was the day I went into labor. My son was stubbornly born Sept. 13, 2001. That week I learned that my neighbor was missing. She was on one of the top floors of the towers. Sadly, she didn't make it. Before this tragic event, I had bumped into her at the supermarket. She told me she had switched careers, was finishing up her degree and was now handling estate planning for a prestigious firm. She told me that she had so much life insurance that she would become a millionaire if her husband passed. That stayed with me, but not for the reasons you think.
Two years later, my son was diagnosed with PDD-Nos on the autism spectrum. He is now 10 and his progress is amazing, but he is not like my other kids. As I get older and sicker every day, I am looking into term life insurance because someone will need to care for him and the other kids. I don't want a financial burden on anyone that would be caring for any of my kids. Several of the kids say that they want to care for their brother, but that's now. What happens when the conversation involves husbands and wives?
This is a conversation I have over and over again with countless parents. Are we prepared? At this time, I can't afford premiums for whole insurance. I know what you're thinking, whole insurance has some value. Term life insurance will end when you stop the payments. I think some life insurance is better than nothing at all. I've seen tragedies happen to people and how it devastates them in every way, especially financially. Just like I have an action plan in case of an emergency like Sept. 11, I need to plan for this. His Dad is still in denial. He lives in the here and now. I'm lucky I have gotten him to open a checking acct, a 401K and build credit. We're talking baby steps people!! He has insurance from his job, but that would not be enough. I don't know if it's because we both come from "old school" hispanic backgrounds. They don't like to talk about death. (Fortunately, my parents became Americanized and have both life insurance and their burial plots taken care of). Not dealing with death doesn't mean it's not going to happen. It just means you'll be caught unprepared and it can destroy the life you have built.
This is what I have been thinking about lately. So, I have decided to payoff the mortgage as quickly as possible. I am going to post what is owed and the payments that are made. I think this will be a big encouragement and inspiration to complete the goal. My amazon and hubpages income has increased, so I will start adding that to the payments. I'll keep you posted on the new income streams I have found, so you can benefit too!
Friday, April 20, 2012
Save Cash With a Splash - 5 Ways To Do It Right!
If you're like most small businesses today you're looking for leverage to increase the bottom line without loading up at the top. Yes, it's possible. You decide.
1) Barter Services
There are a number of ways to barter what you do or sell for what you need. There are even companies that make their living by brokering barter services and products for a percentage in the middle. For a local barter company in your area, just Google 'barter service "My Town"' to find someone local.
Let's assume you are a muffin shop with a growing customer phone room. You need to hire, but you need to furnish too -- each and every call center station. Why not barter the cubicle furniture, new or used for a few muffins or bagels per day? They're just crumbs now -- but profits a coming.
2) Interns
For entry level or even specialist tech work, why not hire an intern from you local college or trade school? You've never seen the enthusiasm that an intern can bring to your company until you hire one. They are ready to work 'day one', aren't looking for vacation time or pay and certainly add a lot to the lunch room chatter. Our youth is our future. And sometimes, just sometimes, they will become your next great employee, manager or leader. Besides, they're looking to you as a mentor. You can't go wrong on this one.
3)Expectations
Not everyone is motivated as you are. Many just need their pay check to meet their car payment. Fit your employee's needs and motivation to the job you expect them to fill. There is nothing more deleterious than to expect more than someone is willing or capable of providing.
For them, you may just be supplying the child care expenses or the extra cushion for retirement. How can you expect a hero when your employee has different needs. Edison said: “Genius is 1% inspiration and 99% perspiration". Don't expect inspiration and only get perspiration. Let's be fair. It's your job to find the geniuses.
4) Negotiate
There is nothing honorable or purposeful in business if you don't negotiate your price for business products or services. Stand up! Negotiate! Fight for rights! That's right. For example, companies that carry your overnight deliveries, your bottled water, your coffee and recyclable shredded paper, they want your business. Don't lay down for their first offer. That's their offer to improve 'their bottom line'. It does nothing for yours. Shop around. Get bids and contract proposals. Expect that they have a better offer up their sleeve and you will usually get it. I know you just want to succeed, but so do they. And do so -- on your back. Negotiate for your survival and succeed!
5) Finance
Never, never, never have only one banking relationship. Every bank has a bottom line and a different set of needs at different times and under different circumstances. None of which you can predict or adapt. At one moment, your 'main bank' may have open arms at another their competitors down the street are more inviting. Who, are you in business for, them or you? Don't lock your allegiance to any one bank. They don't see you in this same warming light. Be the commanding customer --- not the fondling fool.
Charlie Stone is a banker by day, blogger night. Having recently started his first blog, a family story, he is always ready to shell out advice. However, he also takes good advice when he can it. When he needed new dental insurance this past year, a friend suggested that he check out http://www.
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