Newsletter
Issue XIII: Footsteps Along the Path
-A Newsletter by Clear Path Financial Education Services
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This
edition of Footsteps Along the Path was initially issued by Clear
Path Financial Education Services which has now become Kuehn
Financial Education Services LLC. For more information about
Kuehn Financial Education Services LLC, please email Clear
Path Financial Education Services believes: In this issue: * Article: Marrying Money * A Knowledgeable Consumer is Powerful * Seminars Worth Your Time Visit www.clearpathservices.com Marrying Money "It is astonishing how little one feels poverty when one loves" - John Bulwer "One who thinks that money can do everything is likely to do anything for money" - Anonymous "You cannot control your emotions, you cannot control your money." - Warren Buffet Marriage is the human relationship where truth is held most dear. Little white lies and omissions of truth can alienate lovers. Money is emotional and holds many underlying beliefs and values. Couples soon realize they bring different perceptions of money into the union, which need discussing. Also as financial hardships rock a marriage, many spouses remind themselves, "we married for love, not money." However, as money related emotions differ, conflict arises. How do you deal with money and marriage? Two activities are helpful. First, talk about money. If money is not a looming issue, the conversation will be as nonchalant as discussing the weather. If finance is a sore spot, the discussion objective needs to be a new solution, not a rehashing of repetitive arguments. Yes, this is easier said than done. Secondly, exploring why you feel so strongly about money beliefs is key. Look at your family upbringing. What did your parents unconsciously imbed in you about money? This is called examining family of origin. Anyone who has taken advantage of therapy,for a variety of reasons, will be familiar with this. There is credence in "opposites attract." A credit card junkie marries a die hard cash only spender. Viewing the obvious money management activities of your spouse stops short of understanding. For example, a husband may feel spending money lavishly on family members and celebrations shows he cares. The wife may feel "waste not want not" and portions a small amount of savings for family affairs. Ask your spouse to share why s/he feels this way about money. So may people feel money is an objective resource, it is not. Money should flow to what you value and what you value is what you personally appreciate. The wonderful outcome of knowing where your spouse is coming from is: couples who share financial decisions share the financial success or failure. This understanding fosters truth and trust. Finally, you are a team in money management. You may not always get it right ... but you are a union. That is so exciting! A Knowledgeable Consumer is Powerful Business owners are familiar with income statements and balance sheets. As a consumer, we may not think in such terms. Income statements reveal revenue or salary income and expenses or bills. Hopefully at the end of the month money is left over, called profit or savings. Balance sheets indicate what we own along with how much we owe. Hopefully, we calculate our equity as greater than our financial responsibilities, called positive net worth. Unfortunately, our household budgets may show a loss and our net worth may be negative. With this said would you rather be income statement rich or balance sheet rich? Many people appear wealthy because of a good income and many luxuries. But, as Clear Path always teaches, "it is the difference between your earning and spending that accumulates wealth." Big incomes often times equate to big homes, big cars thus big debt. But, the folks who are balance sheet affluent focus on wealth accumulation through equity and investments. In a nutshell, the rich are balance sheet oriented and the middle class is income statement oriented. Seminars Worth Your Time July 10: Path to a Financially Thriving Business 2:00 pm, Glendale Public Library, 5959 W. Brown St, Glendale RSVP at 623.930.3572 Are you master of your own destiny with visions of business prosperity, but financially struggling? Do you find it difficult to meet your personal expenses while expanding your business? Do you cringe at developing concrete financial goals with a strategy to reach them? Is debt draining your current cash flow? Do you know the exact service rate that will make your company profitable? Join Debi Kuehn MBA, owner of Clear Path Financial Education Services, for an interactive workshop exploring how revenue, profit, net income, cash flow and credit intermingle to create the reality of a moneymaking company. Learn what you need to consider before growing your business to the next level. This bottom-line approach to financial information will increase your net income! The workshop is excellent for start-ups, businesses on the edge of expansion and those strained monetarily. Deborah A. Kuehn is the owner, educator and consumer advocate of Clear Path Financial Education Services. Clear Path believes knowledge is power and prosperity. PH: 623-580-9293 
Written by Deborah A. Kuehn, MBA All rights reserved Clear Path Financial Education Services is a registered trade name Issue XIII June 11, 2004 Back to Footsteps Along the Path List |
