Being The Ringmaster Of Your Wallet-Part 2

After posting the last blog, I felt compelled to offer some additional thoughts on matters of money management. Before you start thinking, "Oh what would he know?" please know that I do not consider myself an expert in any way. I have come to realize, however, that the greatest limiting factor to many people who want to live out their passion has been their poor financial choices. I meet at least one person per week who will say, "I always wanted to..." and when I ask why they didn't, the answer is usually related to some poor financial choice or a lack of financial planning.

When I got married, the greatest financial advice I got was "If both husband and wife are working, live on one income and put the other into savings." My wife and I didn't quite get that far, but we did always try to live as close as possible to one income. It became one of our guiding principles as we purchased a car, looked at buying a house and making other financial decisions. Today I look back and see that one piece of advice as being the key to having a great deal of financial freedom now.

If you're looking for some more qualified sources to help you get your "financial ring" in order, here are a few I have found helpful:

Clark Howard-His stated passion is to "Help you spend less, save more and avoid getting ripped off."

Dave Ramsey-Author of Total Money Makeover

Crown Financial Ministries-Offer free financial counseling

Natl Fdn. for Credit Counseling-Lots of helpful hints on managing debt and making wise financial choices.

Being the Ringmaster of Your Wallet

In these tough economic times, several people I know have been adding a 4th ring to their circus-a financial ring. If you think your finances don't affect your performance in your other rings, consider these scenarios:

• Most financial counselors advise families to have 6 months of savings available in case there is a job loss or catastrophe. Having very little to "fall back on" can affect your job performance because you are motivated primarily by fear of losing your job instead of doing the best job possible. You also limit your ability to take a better job, start your own business or work on a higher degree, especially if it involves a temporary reduction in income.
• A lack of savings can affect your relationship ring. When a spouse or child talks about something involving money, your ability to listen clearly is sometimes limited. Again, it's the fear factor.
• Not having a healthy cash flow is definitely detrimental to your "self ring." Due to increased stress levels, people often eat less healthy, exercise less and limit medical attention to emergencies only. Talk about the wrong things to do!

If your financial ring is lacking quality acts, remember-you're the Ringmaster. Even if the lineup has had many bad acts, you can change at least some of them immediately. The audience might not be cheering wildly, but at least they won't be booing you again. Other acts may require a major overhaul, and taking small steps today will make the difference in the future.

Many poor financial decisions are based on impulse purchases. If that's the case for you, remember the line from Juggling Elephants-The ringmaster always reviews the next act before bringing it into the ring. Ask yourself if the intended purchase makes sense in your lineup-will it help you accomplish your purpose for that ring? Working on this ring may help you get more standing ovations in the other rings of your life as well.

Purpose Without A Lineup is Useless

I was astounded to read of the innovations made by companies like Nike, Reebok and other gear companies in preparation for the Summer Olympics. They included things like:

• Replacing a shoe's heavy structural materials with support threads (think steel cables on a suspension bridge).
• Swimsuits that compress a swimmer's body at key points to reduce "form drag," making the swimmer smaller and faster.
• Zoned venting in certain athlete's outfits
• Adjustable screw in spurs that can be raised or lowered on an equestrian's boots. (It reduces about 4 pounds of weight per boot)

A call out quote on the last page of the article caught my attention. It read, "Innovation isn't helpful unless it's tied to a powerful company that drives it somewhere." A Juggling Elephants application of that quote might be Purpose isn't helpful unless it's tied to a lineup that drives it somewhere.

We can clearly identify our purpose and create all kinds of value statements or desired outcomes, but if we don't create a disciplined plan of action that carries it out, we are fooling ourselves. Nike, Reebok and other companies know that for the athletes to win using their gear, they have to expend every possible resource to help make it happen. Does your lineup reflect a desire to have some "winning moments" in the coming days?

Read the entire article in Fast Company.

Another Award for Juggling Elephants

The audio book of Juggling Elephants has just been recognized as an Earphones Award Winner by AudioFile Magazine. Here's the review that appeared in their May issue:

The message in this audio's clever title is that we can get more done when we don't try to do the impossible. The refreshing ideas and suggestions will be great medicine for listeners who feel beleaguered by too much work, not enough time, and not enough appreciation from their families. With charming writing, the authors stress the need to balance the energy we invest in the three rings of life--work, relationships, and personal renewal. Narrator Oliver Wyman shows why his work is so admired--he reads both dialogue and exposition with such skill that listeners will want to lean in closer to relish the sounds, as well as to absorb the full measure of the authors' timeless guidance.

To learn more about the audio book, go to http://www.amazon.com/Juggling-Elephants-
Easier-Important-Done-Now/dp/0143142712/ref=ed_oe_a

6 Unpleasant Types of Workplace Performers

Whether you use these types as a guide of "who not to be in the workplace", as an analysis of your work team, or just for a laugh, they are quite insightful. Enjoy!

http://hotjobs.yahoo.com/career-articles-the_6_most_
annoying_coworkers_are_you_one-431