Uber vs. Lyft. Which IPO Will Drive Returns?

Uber vs. Lyft. Which IPO Will Drive Returns?

To date, LYFT investors have suffered losses of almost 35%. As many late-cycle IPOs tend to be – the LYFT IPO was important as a liquidity event for insiders, even though it has cost investors who are new on the scene. Founders and venture capitalists can only hold paper money for so long before they want to turn it into a home or jet or something. This is what I warned about two weeks prior to the Lyft IPO. Click to see that blog. So, is Uber driving along the same road? (more…)

Need to Amplify Sales? Let’s Talk Specifics

Need to Amplify Sales? Let’s Talk Specifics

Vanessa Merit Nornberg is the owner of Inc. 500 winning company, Metal Mafia, and a member of our Board of Experts here at Birthing of Giants. Vanessa is an expert at sales amplification and at guiding sales teams to their greatest synchronization and success. She’s also a columnist for Inc. Magazine, and recently shared an experience that she witnessed on her way to work that perfectly illustrated how to close the most sales. (more…)

Is the Spring rally over?

Is the Spring rally over?

Today, the Dow Jones Industrial Average dropped 460 points, marking the worst day-drop since the 660-point drop on January 3, 2019. And both of these plummets were preceded by the worst December since the Great Depression. Is the Spring Rally over?

The good news is that the recent tax cuts sparked 2018 to the fastest economic growth the U.S. has seen since 2006, at 2.9% and 3.3%, respectively. (more…)

Ask Natalie: Drowning in Debt.

Ask Natalie: Drowning in Debt.

Ask Natalie: Drowning in Debt.

I’ve gotten myself into a huge mess of credit card debt. It’s time to do a clean up job, and change poor habits. This isn’t who I am or want to be. I have so much emotion around money failure. The spreadsheets are easy. The emotions. Damn.

Signed,
Drowning in Debt

 

​Dear Swimming in a Sea of Possibilities,

Remember that negative emotions only inhibit your ability to see and execute a better plan. So, yes, acknowledge the emotions, but don’t sit in a mud puddle of debt, counting the bills and complaining or crying. It’s time to stand up, shower off, and replace the debt collector’s plan with one of your own. (more…)

The Awakening

The Awakening

Happy Spring!  I just love this time of year, especially living in Michigan because our winters are so long!  Looking out at the lake as I write this, I still see ice covering part of it.  The gardens will soon be bursting with life and in full bloom. Such a happy time. 

I’m interviewing experts about credit, debt, and bankruptcy this month because anyone who has ever experienced being in major debt knows how it can suck the joy and the life right out of you.

I’ve been there too, and it was frightening.

There was a time when my husband and I were first married that we experienced this. I was a new financial advisor, and I was pregnant with my first baby.  My husband was unemployed due to a labor strike, and his only skill since age 18 was playing a French horn for the Detroit Symphony Orchestra. To bring home some income, he took a job bartending at a Greek restaurant where he would come home with a few bucks each night. It was so depressing! We got to the point where we were paying our credit cards with the checks you get from the credit card company! The strike finally ended, and he went back to work with a plan.

It was at that point, that we decided that this would never happen to us again.  We made it our goal to do two things:

  • We paid our credit cards off. It took time, but we did it, and we never carry a balance. In fact, most months, my husband has our credit cards paid off before the statements arrive.
  • The second thing we did was to begin building an emergency cash reserve. We started with one month’s expenses, then three, then six, and finally we reached one year’s worth of expenses that we kept in a safe money market account. Now we only get 2% on this money, but it helps us sleep at night, and I love the ability to make home improvements like a new roof, for example, right from our account.

Building up that savings account took time, and besides investing in our retirement plans regularly, it’s one of the smartest thing we ever did. The next time my husband was unemployed due to a labor strike back in 2011, the strike lasted six months. Thank God we had that cash reserve!

I hope you enjoy the interviews this month with our financial experts. We will address the inner and outer workings of debt. Lynnette Khalfani-Cox offers four really smart debt tips in her featured article. I address the deep-seeded causes of debt in my article. You probably know others who can use this information. Please share it with them and invite them to join our Smart Women Community at www.JoinSmartWomen.com

Also, I’d love to hear how you like the shows and what topics you like to hear more of.  You can email me at katana@katanaabbott.com.  I love hearing from you!

Katana Abbott, CFP® practitioner, is a Wealth Coach™, host of the Smart Women Talk Radio™, founder of the Smart Women Companies with over 1 million subscribers globally, inspirational speaker and author of several books. She began her financial planning career in 1987 and became a Certified Financial Planner™ practitioner. In 2003, Katana created Smart Women’s Coaching® to offer financial coaching and educational workshops for women in transition who are dealing with caregiving, death of a loved one, divorce, retirement or looking to create or grow a business.  She founded Smart Women’s Empowerment in 2008 to bring free financial empowerment resources and programs to women around the world through her team of Contributing Experts. To learn more about Katana Abbott visit www.katanaabbott.com.

Looking for the Deep-Seeded Debt Cause

Looking for the Deep-Seeded Debt Cause

As a Wealth Coach and a Certified Financial Planner, I’ve been helping women discover their deep-seeded debt cause and showing them how to take charge of their money for over 30 years. For the last 11 years, I’ve been focused on mindset or what I call our money personality. There are five different money personalities we might possess: Love, Security, Value, Recognition, and Status. 

Each of us has a money personality that was formed very early in our childhood.  It was formed from what we observed and what we were told as children. Those experiences truly had a profound effect on us and they still do to this day.

Think back to when you were growing up. What were you told about money?  What did you observe?

Did you hear things like money doesn’t grow on trees? Or that you have to work hard for money? Maybe you heard that rich people are selfish and that it’s better to give than receive? Did you feel or observe things like scarcity, fear, abuse, neglect, or loneliness?  Dig deep and think about what ideas about money were formed as you grew up.

I’ve heard so many different stories from women on how and why they have ended up in debt. Here are some examples of the five money personalities:

The Love personality may be trying to fill a hole in her heart and find herself over spending, buying multiple items or spending in order to belong. She doesn’t feel emotionally connected to it, almost like it is monopoly money.

A Value personality may feel like she is not good enough, and find herself over-giving, rescuing others, giving to the point of resentment and creating debt as a result of things just happening to her.

The Recognition personality may feel that she needs to prove herself, so she goes for the big win. If it doesn’t work out and she ends up in debt, she might find herself doing it again trying to prove she can fix it. She may be slow in responding to difficult money situations, so a small loss becomes a bigger one.

Someone with a Status personality may feel that no matter what she has it’s never enough, so she too runs up debt, often from compulsive spending, picking up the tab, buying expensive items regardless of current bank account. She may feel she needs to have the best and doing everything to the extreme.

Since a Security Personality desires to be safe and independent, she doesn’t usually have debt. If she does, it may have been caused by something out of her control. This type of experience would only confirm her fear that no matter how much she has, she may lose it all. So she will work to get rid of it as fast as possible and do anything to not let it happen again.

I’m a Recognition personality, and my challenge is big thinking, risk taking, and never giving up. Early in my career, I found myself in debt, and my solution was trying to fix it with one more big idea.

My husband is a Security personality, so he was horrified by my big ideas and risk taking. It caused many arguments and unnecessary stress during the early part of our marriage. It wasn’t until we sat down together to talk about this very topic that we realized that we were the perfect team!

The result? Instead of feeling challenged or judged by his “micromanaging,” I began to cherish the fact that he cares so much about taking care of all the little details around money management.  It’s worked amazingly well. We have now been married over 30 years!

He now sees my big ideas as a positive area to discuss and explore. He would never have taken the risk to buy our house on the lake or make some of our higher risk investments without me. Today, we work together on everything. We still get triggered by each other’s money personality characteristics, but we are able to calm down, breathe, and listen before we react.

If you are having a hard time controlling your spending, asking for what you are worth, or feeling like no matter how much you have, it’s never enough or that you never know when it may all just disappear, relax, it’s not your fault.

The great news is that you can heal your relationship with money and the fact that you are reading this today is perfect, because the first step is awareness.

Learning WHY you feel the way you do about money or WHY you spend it even when you know you shouldn’t is part of the healing process. When we are triggered, our little girl pops up and begins to run the show. Yes, a little 3, 5 or 7 year old ends up trying to protect us from getting hurt again.

What is the solution? Do the work to find out what experience triggered those disempowering feelings and behaviors that are happening today. You can then begin to release, forgive, and ultimately shift into a whole new awareness with new behaviors and coping skills. I do this type of work with women. You can learn more HERE.

Don’t forget that you can take our free course, Unlock Your Financial Power, where there are exercises like the Money Quiz and Release and Receive in the Key #2 – Discovery section to help you begin this process!  If you would like a more personal approach, click HERE learn about coaching.

Katana Abbott, CFP® practitioner, is a Wealth Coach™, host of the Smart Women Talk Radio™, founder of the Smart Women Companies with over 1 million subscribers globally, inspirational speaker and author of several books. She began her financial planning career in 1987 and became a Certified Financial Planner™ practitioner. In 2003, Katana created Smart Women’s Coaching® to offer financial coaching and educational workshops for women in transition who are dealing with caregiving, death of a loved one, divorce, retirement or looking to create or grow a business.  She founded Smart Women’s Empowerment in 2008 to bring free financial empowerment resources and programs to women around the world through her team of Contributing Experts. To learn more about Katana Abbott visit www.katanaabbott.com.

 

Don't forget to download your FREE ebook ,The Five Biggest Money Mistakes Women Make and How to Fix Them!

 

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