campaigns : Campaign Archive

Dear Appreciated Clients and Friends,

This past Sunday was Mother’s Day, a special day to honor the mothering energy of us all, AND it marks the day we can plant tomatoes! Somehow, given my love of home-grown tomatoes, this all makes perfect sense to me!

Barry and I have moved into our new home. Well, let’s more correctly say we are living in our new house. There is still much to do to make it home, and we are thrilled.

Outside, we are surrounded by fresh dirt. Yards and yards of rich soil, exposed as a result of the many reasons to dig when building a home. I can look outside at all this fresh dirt and feel overwhelmed by all of the work that lies ahead. Or I can look outside and enthusiastically envision possibility and potential…and ripe tomatoes!

I chose possibility and potential. How about you?

Enjoy spring and chose to make it full of the possibility of prosperity,

Mackey

Business First!

Take care of your business and your business will take care of you.

Obvious? Of course. Sounds like common sense. But this simple concept is not always easy to practice and here’s why: Putting the business first often means putting you, the business owner, last.

I was advising a manufacturing client as they negotiated a contract to grow their business by 50% over the next twelve months. Cash was already tight, and this new growth would stretch their vendor relationships even tighter. Our cash flow forecast indicated an increasingly negative cash flow for the next five months.

The business had one owner, a woman who had purchased the business fifteen years ago. She had invested heavily into the business over the years, both in terms of stock and loans, and like most entrepreneurs, the business was her primary asset and source of cash flow. She had her eye on an oceanfront condo and needed cash for a down payment and increased cash flow for the mortgage.

We were in the process of negotiating with two banks for an increase in the line of credit and to restructure current debt obligations to provide cash flow for the new contract. If we factored in an increase in salary or dividends for the owner to meet her goals, we would stretch the business’ ability to service the debt. Additionally, her bank would likely frown on this cash drain for personal use, as their objective was to fund business growth.

So who was going to get to the top of the priority list? The business or the business owner? After talking with her it was clear that the business had to come first. This new contract was going to, at a minimum, quadruple business profits. In the long term, it would increase both her cash flow and the value of her largest asset, her business. In the short term however, plans for the new beach house would have to be put on hold.

Expanding our concept a bit: If you take care of the business, it will take care of you… and the other stakeholders, your team, vendors and creditors.

Example: Business is tight due to increased price pressure and competition. You have an under-performing employee. Do you keep the employee or free him or her up for a new opportunity?

Let’s go back to our original premise. If you take care of the business, it will take care of you and the other stakeholders. Keeping a non-performing employee puts the paychecks of your high-performing employees at risk. The greater good is the heath and wealth of the business. The under performer has to go.

Successful entrepreneurs adopt this mantra, knowing that the business always comes first. Be bold enough to be wildly successful. Your business is the center of your personal wealth creation and accumulation. When the decisions get tough, stay focused and keep your eye on the greater good…a business that is healthy and growing. The business, in turn, will provide generously for all the stakeholders.

Preparing for Weddings - Are YOU Getting Married This June?

Marriage is an important step in anyone's life and brings many challenges with it. One of those challenges is the management of your finances as a couple. The money decisions that you make now as a couple can have a lasting impact on your financial future together. Careful planning of your finances can ensure that together, you achieve financial success.

Budgeting your money
When you were single, you managed your finances in a way that was comfortable for you and that you understood--no one had to approve or disapprove of your financial decisions. Now that you are married, however, both you and your spouse have to agree on a system for budgeting your money and paying your bills.

Discuss financial situations
You and your spouse must discuss your respective financial situations and expectations, and take stock of your individual assets (what you own) and liabilities (what you owe). Revealing your financial situation is an important step when budgeting as a couple. If either of you has a financial problem, it is best to identify it now and begin solving it together. This is the time to address questions such as what do each of you earn, and what additional sources of income do you have? What do you own? Will both of you work now that you are married? Who will hold title to property acquired before and after the wedding? In addition, be sure to disclose all of your financial commitments. If you pay child support, let your partner know the amounts. If you have to repay student loans, discuss that as well.

Discuss financial goals
After you discuss your financial situations, you should discuss your financial goals. You can start by each making a list of your short- and long-term financial goals. Short-term goals are those that can take anywhere from three to five years (e.g., saving for a down payment on a home or a new car). Long-term goals are those that take more than five years to achieve (e.g., saving for a child's college education or retirement). When you have each determined your individual financial goals, you should review your goals together to achieve common objectives. You can then focus your energy on those common objectives and strive to attain those goals (short- and long-term) together.

Prepare an annual budget
The first step in developing a financial future together as a couple is to prepare an annual budget. The budget will be a detailed listing of all your income and expenses over the period of a year. You may want to designate one spouse to be in charge of managing the budget, or you can take turns keeping records and paying bills.

Create a cash flow system
After you have developed a budget, you should create a system for managing your monthly inflow and outflow of cash. It is a good idea for both you and your spouse to become involved in this process--at least at first--so that both of you have a clear understanding of the costs of running the family and household.

Cash flow systems like the one described below are simple and painless to operate. Once they are established, you will find that making financial decisions becomes much easier because you have done your homework.

Save a percentage of your earnings
When figuring out your budget, savings should be considered one of your monthly expenses. Think of savings as a fixed payment (like a car payment) that must be made every month. If you don't and you wait until the end of the month to save whatever you have not spent, you'll find that nothing ever seems to go into your savings account. A good rule of thumb is for you and your spouse to save 4 to 9 percent of your combined gross earnings while you are in your 20s and then double that savings percentage as you reach your 30s and 40s. In some cases, a dual-income couple may be able to live off one spouse's salary and save the other salary.

Build an emergency cash reserve
The savings that you accumulate can serve as an emergency cash reserve. Ideally, you should have in savings an amount that is comfortable for you to fall back on in case of an emergency, such as a job loss. A common formula used for calculating a safe emergency fund amount is to multiply your total monthly expenses by 6. When determining how much cash should be in your emergency fund, a major factor is your comfort level. If you and your spouse feel secure with your jobs and are confident that if you lost your current jobs you would be able to find a new one fairly quickly, an emergency fund of three times your monthly expenses should be sufficient. However, if either of you has an unpredictable income, you may want to have an emergency fund that is equal to 12 times your monthly expenses.

Andy Pulsfort is enjoying a well-deserved week of vacation. Be sure to watch next month when he returns with the next column of Practical Prosperity.

Go Green!

Attention Green Heroes Let's CHAT!

Are you a Green Hero? Are you someone taking action to protect the environment? Then stand up and be counted! Share your story and how you are making a difference for the world.

The following is an example of what we are doing in our office to help the environment:

We use recycled copy paper. Recycle pop cans and bottles. Turn off lights in an unused room. Recycle toner cartridges and used batteries. Used paper is being shredded and recycled. We use ceramic mugs to drink our hot tea or coffee instead of paper cups - rewash and reuse.

I'm sure there is much more we can be doing....what are you doing to help the planet? Please share your ideas with our readers and let's start a monthly chat about it! If we all pull together, we can make this a much better place to live. Thanks so much for sharing your thoughts. Please send your emails to me at Pam@CultivatingProsperity.com. We will post your e-mails in June so be sure to check-in next month!

By Pam Vargo

Buy the Book!

The Dynamics of Money

Mackey’s new audio book, the Dynamics of Money, gives you the power to discover your personal key, unlocking the door to your true potential
for unlimited prosperity. Through the power of the Narrative Tradition of The Enneagram, you will hear the three exemplars of each of the nine
personality types sharing their unique perspectives on the subject of money and prosperity.

Order Your Copy Today!

The Intersection of Joy and Money

Warning!! This book will:

●    Expand your confidence around financial decision-making.
●    Increase your prosperity consciousness.
●    Create a more prosperous and abundant life.

Change your relation with money today!

Hear Me Speak!

Wednesday, June 11, 2008 Convention for Unity Churches in Phoenix, AZ

Workshop: "Prosperity Planning Teams - How to Expand Money Consciousness in the Leadership of Your Church"

Mackey will be joined by the Rev. Pat Williamson of the Unity Church at the Wigwam Hotel in Phoenix, AZ. Come join the beauty of the desert as Mackey and Rev. Pat guide you through Prosperity In Action.

Monday, June 23, 2008 at 6:00 PM - Parnell Memorial Library in Montevallo, AL

Mackey returns to the Parnell Memorial Library for a repeat engagement of Cultivating Prosperity. Please join her if you will be in Alabama to hear her thought-provoking, easy to understand theory to "Stay the Course" and stay on target with your financial plans.