“I have learned to be content whatever the circumstances. I know what it is to be in need, and I know what it is to have plenty. I have learned the secret of being content in every situation, whether well fed or hungry, whether living in plenty or in want. I can do everything through him who give me strength.” Philippians 4:11-13 (NIV)

Dear friend,

One of the most common obstacles to success that many of you identified is to balance your finances. Whether it is too much debt, damaged credit, lack of savings, or not having enough income, financial challenges can be very stressful and discouraging. The stress and uncertainty of not having a firm financial foundation can make it difficult to bring a vision to fruition or to live. It is important to prepare well for all seasons of life and build a firm foundation in our finances. Try to avoid the past mistakes that led to financial struggles. Learn from them and find better ways to secure your finances. Challenges in finances affect not only your ability to reach your full potential but it also affects your well being, your family, your health and all things that you are involved in.

Read books that will educate you about money or seek advice or professional help. At one point or another in our lives, we all struggle with money. The most important thing is to try to make smart choices that will help you to stabilize that area of your life. Here are a few suggestions that may help you begin to make smart choices.

1. LEARN TO LIVE WITHIN YOUR MEANS. Everybody can make this choice and use what you can afford for your daily needs. Avoid wanting what you can’t afford, if it is an item, restaurant visit or anything else. You know better than anyone what is in your pockets or bank. Try to use what you have. Avoid using credit cards unless you have a plan to pay it off. High balances on revolving debt, such as credit card debt, negatively impact your life and credit score more than loans that are scheduled to be paid off in a set number of months or years such as a car loan, student loan or mortgage. One of the fastest ways to improve your credit is to pay down or pay off your credit cards.

2. REFUSE TO BE MANIPULATED. People sometimes tend to look at their neighbors or circle of friends and compete with their life circles. Don’t let anybody or anything manipulate you into financial commitments that you can’t afford. Manipulation can also come from TV commercials and other advertisements we see everyday.

The “disease to please” is the main cause of saying “yes” too often. Don’t allow others to make you feel guilty because you won’t do what they want when it does not fit within your purpose and vision for your life. When you allow others to manipulate you, resentment may begin, even though you allowed them to influence you. Simply refuse to allow attempted guilt trips to sway your decision in any area in your life including dealing with money. It is necessary to help others whenever you can. Everyone has needed help at times. Just be careful in your decisions and your budget. Don’t co-sign debts that one day might completely ruin your life. In each decision consult your inner voice. When in doubt, seek professional advice.

3. SAVE FOR EMERGENCIES. There will be times in life where we face emergencies. This might be sickness, loosing a job, or any other situation that will require our immediate attention. If you have an emergency account, it is comforting to know that if one arises, your finances won't be completely destroyed. Make sure you are covered in the event of unfortunate circumstances.

4. INVEST TIME IN YOUR FINANCIAL EDUCATION. One of the main causes of financial problems is inadequate knowledge of dealing with money. Make time to educate yourself. Learn about wealth building, debt elimination, investing, and real estate. Read books or articles. Attend a seminar. Learn from those who handle their money well. The more financially literate you become, the better off you will be. With books and the internet available today, one can learn with minimum costs. Some libraries and organizations offer free seminars and courses on money issues. Good Christian studies can be taken at www.crown.org. There are multitudes of organizations and institutions. Just be careful not to fall into the hands of scams.

5. CHANGE YOUR LIFESTYLE IF NECESSARY. Sometimes building a strong financial foundation requires sacrifice. If you need to "downsize" your lifestyle so that you can become more financially strong, do it! When you have a purpose and vision, and understand the importance of a firm financial foundation, it is empowering to make tough choices such as keeping your old car for a while longer, waiting to buy a bigger house, or curbing the shopping sprees while you save to buy your own home.

6. REFUSE TO BE AN EMOTIONAL SPENDER. This is another way of being manipulated… by guilt, showing off, or other reasons. Have you ever spent money on your family, friends or children out of guilt or in an effort to win the affection or admiration of others? Do you shop when you are feeling down? Do you buy things you can't afford because they make you feel better about yourself? Have you co-signed on credit cards or loans even though your intuition told you not to? If you have, this was an example of “emotional spending". It can be an expensive habit. Recognize your propensity to spend emotionally and make a decision to change your behavior. Question your motives before spending money. And make sure you spend your money in a way that reflects your vision and purpose.

7. SET FUTURE GOALS Without a proper goal and vision one can easily wander without achieving much. Goals will motivate you to budget better and seek means to accomplish your vision. Don’t wake up each morning wondering ‘What on earth will I be doing today or tomorrow.’ That is a dangerous road. Instead have some plans and take steps towards your plans with inspiration and prayers. Sometimes goals might change and that is okay as long as you are on your way for a better tomorrow.

8. PUT MONEY INTO PROPER PERSPECTIVE. Having money can certainly make life easier, more convenient and less stressful. But always remember this: If your biggest problems are money-related, consider solving them….starting today. There are other more important things in your life - your relationship with God and the people you care about, your health and your integrity, to name a few. Don't allow financial frustrations to ruin your relationships or accountability. Yes, money makes life easier. But how you make your money also intervenes with your peace and morality. Count your blessings and remember that life's richest rewards will never be found in material things.

9. BUDGET When we plan where our money is to go, we can make the money go further. Everybody needs a budget. Don’t ever say, “I will wait until I have enough money to make a budget.” You’ll never have enough for more money might mean more needs! Make smart choices today and start moving in a new direction that will empower you and those around you. It is never too late to have a fresh start. Straighten your finances as a new beginning for a better you.

As I was writing this newsletter, I thought, ‘Hmm….a cup of chai-latte at Starbucks will inspire my writing, so I took a short ride. Instead of Starbucks, I found myself at a boutique observing a beautiful dress in the show window. From my car, I imagined the matching shoes and purse I’d carry with it. I walked to the boutique and took the dress. As I looked at it I remembered my newsletter and started to laugh…..for this was an unbudgeted trip! The young lady in the shop looked at me as if I lost my mind.

As I was about to go and try on the dress, my attention was drawn to the music playing over the speakers. It was too corrupt for my ears. I walked to the young lady and asked her if she can change her music. Now she truly thought I might be crazy. The Japanese are very respectful people, so she obliged me. I purchased the dress without budgeting for it, knowing well that I would have to make appropriate adjustments. So our budgets don’t always work perfectly, but having one will help determine our limits.

10. MAKE A LIVING WILL We all think we will live long lives and that death is in the far distant future. But the truth is no one can predict the time of their death. A situation may arise where you can’t speak for yourself. It is better to write out your will and have it filed with an attorney and with people that you trust. A will doesn’t necessarily mean you have money to leave to someone. It can go beyond that. It may be used to insure your very last wishes are fulfilled.

Young myself, I too, was not concerned about a living will. Yet after realizing it is one of those important things to do, I finally made one. Just in case anything happened to me or my health declined, it would be important for my family to understand how to better care for me and my properties. If we did plan well while living, why not plan for those times when we can’t speak for ourselves?

An Advance Medical Directive (AMD) should also be included in your will. The US citizen Terri Schiavo should be a reminder to us all. Put your wishes in writing instead of letting someone else decide for you in matters pertaining to your own life or death.

Till next time,