Deva Sojourn. Thoughts on Rediscovery.

===================================================================

T-shirts, shorts, bathing suits – oh my!! Summer is coming. Are you ready? As you know, Sharon is also a certified Irish Dance instructor in Springfield. There, she works with several lovely ladies, each of whom is a gifted certified instructor in their area of expertise. For this April only, we’ve created a special deal: for only $50 for the entire month, you get a weekly class in each of Yoga, BellyDance and Irish Ceili! That’s three hours of classes weekly for only $50 – this is a $140 value! This is a great opportunity to try these classes out and get a jump start on your summer plans. Call Terri Woodliff at 217-280-0719 for further details or to enroll. Enrollment is limited to the first 50 people. Call now to reserve your spot.

Want to get your finances straightened out, but aren’t sure if Personal Financial HypnoCoaching is for you? Sharon is teaching “Personal Finance 101” at LLCC on Saturday, March 28th. The class costs only $25, and we’ll cover all the basics in the single 3 hour session. See http://www.llcc.edu for further details.

NEW! Coach Sharon offers pre-designed packages for the folks who know what they want to accomplish, but don’t want to be committed into months of hypnosis sessions. Our packages are: Quit Smoking, Eliminate Procrastination, Study Skills, and Kicking Bad Habits. See http://www.devasojourn.com/packages.html for more details. As Sharon always teaches in her Procrastination Elimination class at LLCC, planning is an essential key to success. See the website or contact Sharon at coachsharon@devasojourn.com for more information.

Not sure if HypnoCoaching is for you? Not sure what HypnoCoaching is? If you were an athlete, determined to win an event, or seeking to dramatically improve your skills, you’d hire a coach. That coach would work with you, and be completely focused on your needs and goals. They would also hold you accountable for the commitments you made to yourself. A Personal Coach does the same thing. A HypnoCoach adds in the power of hypnosis to make the process easier, and to allow you the ability to shed your resistance to change in the manner best suited to you. Your HypnoCoach is always on your side, and always your advocate. See http://www.devasojourn.com for more details about our offerings.

===================================================================

In this issue:

Two Thoughts for Readers
Feature Article: The Third of Eight Great Money Habits

===================================================================
Two Thoughts for Readers

“Awake. Be the witness of your thoughts. You are what observes, not what you observe.” ~ Buddha

“To observe without evaluating is the highest form of intelligence. ~ Jiddu Krishnamurti

===================================================================
Feature Article: The Fourth of Eight Great Money Habits
===================================================================

This is the fourth of a series of eight articles I’ll be writing on the eight great money habits I encourage in my students and my clients.

Today’s thought is “Understand Your Investments.”

A million years ago, it seems, I accepted my first professional position in the working world. Yes, I had worked full time to put myself through school, but this was, to my young mind, a much bigger thing. As I selected my benefits, I opted against participating in the company’s 401K. I wish now that I had started immediately, but as a young person with ambitious plans for my money and my life, it wasn’t my first priority. Within two years, however, I did opt in and started socking away 6% of my pay. The choice was made easy at the time, because the company would match two-thirds of your savings, up to that magic number. I made somewhat random selections for my investment options, because I had no idea what I should do, and almost no guidance was given by the HR department. It was far too heavily invested in the stock market, and then after a year, the company started matching the saved amounts with company stock. At the time, I understood that this was to prevent a hostile takeover, but my focus was on the wrong thing – the company’s long term well-being, not mine.

The purpose of a 401K or of any similar program is to encourage and allow easy savings by individuals for the future on a pre-tax basis. The advantages of pre-tax money are clear: simply put, it’s worth more. After tax money that you save has already been taxed, and the gains you make on that money is immediately taxed. At least, that’s how it’s supposed to work. There are a number of states seeking to tax the gains in 401K and other similar plans to make up for expected tax revenue shortfalls. Does that mean that you should stop saving? Heavens, no. It just means that you must stay aware of the changes in tax law and ensure that Yes, that’s a big job, but that’s what certified financial planners and advisors are paid for (if you can afford one). If not, then you choose: it’s your money.

Where IS your money? How much do you have saved? How much do you want to have available each month if you retire? How long do you plan on continuing to work before you retire? Given the state of the economy and the world, will you ever be able to retire? Do you even want to retire? Are you risk averse? Are you a risk taker? Are you cash or credit sensitive? How many different financial institutions do you have money socked away in? How much money do you have in each? Where are your bank statements? Where are your investment statements?

Phew! What a lot of intense questions! But do you know the answers to these questions? Are you ready to evaluate your options? These are the sorts of questions a financial planner or advisor would ask. These are the sorts of questions you really need to know the answers to. And, you need to figure out what’s best for YOU.

There are dozens of books available on personal investing, and while many of them are valuable, you need to select the one(s) you use with a critical eye. Just as you wouldn’t run out and buy the first car you see, you need to evaluate the authors and their particular points of view. Read up on these “experts” and their track records. All of this information will be available on the internet. When you find the expert you feel best about, then start buying books and reading. You need to create your own financial stability in your own way, not someone else’s.

Speaking of which, the same must be said about financial professionals. Be careful about who you select and why you select them. Your brother’s sister-in-law’s cousin might be a great guy, but if he is employed by a financial institution and is selling their products, then you’ll find that he’s loaded you up on those. Independent is usually best when it comes to financial professionals. Oh, and more importantly, these folks are required by their certifying authority to maintain certain levels of continuing education annually, and there will always be information available on their practices, history and any possible disciplinary actions that may have been taken. Again, it’s your money, and you are the only one who can or should keep an eye on it.

Your investment options will run the gamut from simple savings accounts in a bank to high-risk stock based investments. Often, high-risk will be accompanied by high-yield, but not always. It’s no different than the race track, where people will spend hours evaluating drivers or jockeys before placing their bets. That’s what an investment is: a bet that things will improve over time. What level of risk are you willing to assume? If you are promised a guaranteed 20% return on your investment, turn and run. The old adage of “if it sounds too good to be true, it is” holds here. You have the right, and the responsibility to be picky, and to choose wisely.

I’m always harping on thinking, aren’t I? There’s a reason. We, as humans, have a choice. Do we blindly muddle through our lives, or do we take the luxury of awareness in each moment, and the choices that bring us there and to the future?

Just as I advocate planning when it comes to simple purchases, plan when it comes to your investments. Don’t assume that your HR department knows best, or that others have your best interests at heart. Don’t assume that since you’ve heard nothing about your investments, everything’s still good. It’s your money, and you want it to be there in case of emergency, or when you retire and want to do something new with your life. Any and all research you do in support of planning your investment strategies and growth and viability is well worth the effort and time invested.

Allow yourself to be patient and to be true to yourself. Remember to take at least five minutes every day to simply be by yourself and breathe. Allow yourself to indulge in a moment of thought, reflection and planning when the mood strikes. As a wise old engineering student once taught me, “It’s more effective to measure twice and cut once than it is to rush and waste your time doing the same thing over again.” It’s your money, your choice. Allow yourself to simply succeed on your own terms, to live in peace, abundance, and joy. One day, one decision at a time, remaining aware of your choices and your feelings. You CAN get there.

And, as always, if you need help, I’m available. It’s what I do, and it’s what I love to do.

Sharon.

===================================================================

This is the third of a series of eight articles I’ll be writing on the eight great money habits I encourage in my students and my clients.

Today’s thought is “Buy Smart.”

I still remember the first time someone said “Work smarter, not harder” to me. I was at work, it was about 10:00 at night, and we were in the middle of the various day’s close procedures. You see, I financed my college education by working full-time while going to school full-time. Believe me, there were weeks when I had to decide if I spent that week’s $5 on food or putting gas in the car (this was back in the day when I had a car that got 35 miles to the gallon, and a gallon of gas was still around a buck, as was a pack of cigarettes), I never would have survived those days without two things: obsessive food shopping planning, and my mother’s habit of emptying her pantry of half-used peanut butter jars and assorted sundries every time I came home to do laundry (thank you, Mom!).

Anyway, that statement really struck me. Up until that moment, I truly had been a person who thought that the harder you worked, the better things got. Something that came easily just wasn’t the same. The worst part about that statement was that it came from an employee who had this habit of asking “Why?” every time I set a task to him. I will credit him with saying it to me (although I’ve long since forgotten his name), and with the change it brought in my life. I can’t say that I’ve not been guilty of working too hard for something since, but I did apply the tactic to many other aspects of my life, especially money.

What does “Buy Smart” mean?

There are very simple answers. And they all boil down to this simple truth. It’s your money. You get to choose how to spend or not spend it.

Do you spend because your emotions rule your wallet, or do you think about your purchases before making them? Do you spend money because you must for necessities or because you feel obligated? What is the difference between a necessity and an optional purchase? How do you make these distinctions? How do you retain control of your money? Yes, yet again, mindfulness is the key. Not in some New Age vague sense of the word, but in the pragmatic awareness of your actions, thoughts and feelings of the moment. That is what I mean when I use the word “mindfulness” in relation to money.

So, on to the practical thoughts. Let’s start with coupons.

Ah, yes, coupons, those lovely bits of shiny colored paper that promise you 50 cents off your next purchase of toilet paper. Doesn’t sound like much, does it? But, when combined with a dozen other similar coupons, you have over six dollars to spend on something else. Coupons are readily available in your newspaper, at the supermarket, in your mail, and online. Retailers and manufacturers WANT you to spend money on their products, and they use coupons, discounts and package offers to draw you in and entice you to buy. Online retailers will even offer free shipping for purchases over a certain amount (it’s often less expensive to go with the shipping and forego the additional purchases, so be careful about that).

Speaking of online, since we are all connected via the internet nowadays, look to your favorite manufacturer’s websites for printable coupons. Spend an hour every weekend collecting coupons and organizing them by product, type, and date of expiration. Go to websites such as couponcabin, retailmenot, anycoupons, dealio, and onlinecoupons to view, select, print or use coupons or discount codes available there. Google or Yahoo search “online coupons” and you will find dozens of providers. You have no excuses for not finding sources, only now you have to make the time commitment to wade through all the options and select the best ones for you. Yes, it takes time, but it’s your money.

Buy top quality used items.

In 1989, when I purchased my first condo, I needed appliances. I purchased a new stacked washer/dryer unit at Sears on clearance, and I purchased a used refrigerator. My Dad helped me install the washer/dryer unit – thank God I was still skinny and limber – the upshot was that I had to be behind the unit to install it, and then climb over the top. Yes, Dad made sure I didn’t fall, but boy did we laugh a lot. I sold the unit to the purchaser of my condo when I moved in 1992. The refrigerator came along with me through 2007 when I moved to Illinois, when I finally replaced it. I replaced the compressor once, and that sturdy little Kenmore unit kept chugging along through all the moves and all the years. Finally, I decided to upgrade and buy a much more energy efficient unit for the basement. Nearly 20 years out of a used unit? Yes. I firmly believe that if you shop carefully, and purchase wisely, used can make sense. For me, I never buy used cars anymore, but that’s just me. Since I tend to keep cars for at least 10 years, purchasing only new cars makes more sense for me. Others swear by used cars.

Goodwill, Salvation Army, consignment shops, Craigslist, are a few of the sources for good quality used products. Honestly, the Salvation Army ticks me off in terms of the quality they demand of donated goods, but then when it hits the store, I’m thankful. Let someone else pay the full retail and then move on to their next purchase. Their movement is your gain.

Research.

I’m always harping on thinking, aren’t I? There’s a reason. We, as humans, have a choice. Do we blindly muddle through our lives, or do we take the luxury of awareness in each moment, and the choices that bring us there and to the future. Hopefully, the answer is both for all of us. If you’ve made any large electronic purchase in the last year, I’m sure that you put the time into researching the best options for yourself, and found the best pricing either locally or online. We tend to do those things for ourselves. You can do the same with other purchases as well.

When a retailer such as Circuit City goes out of business, they cheerfully advertise that everything must go. But, when you walk in the store, really think about the prices. I found very little that was cheaper than I could find at Best Buy or Office Depot. It was frustrating to me, because I walked in ready to spend money, and I think I bought one $7 piece of hardware. I was ready to spend more, but since the deals weren’t there, I didn’t. How often do you find yourself sucked in to a store or website that promises discounts or incredible value for the money, and you find yourself mindlessly spending? Think about it. You’ll be surprised. Any and all research you do in support of planning a purchase is well worth the effort and time invested.

Planned Trips

The final thought today is to promote the idea of planning all of your trips that will involve purchases, errands, or chores. If you’ve got to buy food, run to the bank, drop a package at the post office, pick up dry cleaning, and put gas in the car, can’t you do all those things in one trip? More importantly, can you plan that one trip as a large circle? Will the frozen peas really melt if you get to the dry cleaners and gas station on your way home? The effort here is to maximize your results while minimizing your time shopping, and minimizing the amount of gasoline, time, money and effort you expend on these mundane tasks.

If you have trouble remembering everything you want to accomplish, write a list on a post-it note and stick it to your dashboard. In my Eliminating Procrastination class, I also offered that the students could stick it to their forehead, but that would mean writing backwards so that they could read it in the rear-view mirror. If you have multiple sub-tasks within your trip, just use multiple post its. Lists really do help you plan your purchases and reduce impulse shopping and unnecessary expenditures. They are not just for those suffering from obsessive compulsive disorder, believe it or not. Besides, if you write it all down, your brain is free to wander and think about other more important things, like it wants to anyway. This way, you indulge in your daydreaming, and still accomplish all of your goals.

Allow yourself to be patient and to be true to yourself. Remember to take at least five minutes every day to simply be by yourself and breathe. Allow yourself to indulge in a moment of thought, reflection and planning when the mood strikes. As a wise old engineering student once taught me, “It’s more effective to measure twice and cut once than it is to rush and waste your time doing the same thing over again.” It’s your money, your choice. Allow yourself to simply succeed on your own terms, to live in peace, abundance, and joy. One day, one decision at a time, remaining aware of your choices and your feelings. You CAN get there.