Decisions and Consequences
Wives what a week this has been and its not over, yet I am excited about the course of this week.
As a Wife CFO and CEO, mommy I was partially focused this week on ensuring the twins had a GREAT time with my mom and brother. They arrived last Saturday which was a complete surprise for the twins. My husband and I love surprising the twins with family coming in or our traveling to see the family.
Let’s get real – so when family comes then you have to pay extra close attention to the household finances and what is happening with business. Let me tell you how this went:
1) From the outset my mom said, I don’t want you and the husband going to no extra expense for us. Come on, you don’t think I agreed! I love my mom, she keeps it real and wants to keep us flowing on our path.
2) I knew one of the challenges would be to keep my husband from wanting to go out to eat every night. That’s just him especially when family is in town. WOOHOO – I worked this. We had already decided the meal plan for most nights – what we would cook and do as a family. I loved it. So there was one meal that we ate out at the beginning of this week. The other nights we alternated cooking. I tell you what, my brother is an excellent cook – always has been. He cooked dinner for us one night and it was the best! (He and I are not twins, but if you saw us you would think so).
3) I prepared for interviews this week and forgot to confirm an appointment for my husband’s business. It turned out okay though because I rescheduled her for two days later.
4) Evaluated an opportunity to have a vendor booth and decided to attend the event and network but not incur the expense of a booth due to it not being the right audience for booth; however it would be great for networking and getting know people.
Busy week and GREAT opportunities are happening for various legs of Money Talk Matters, LLC which Wife CFO is a part of. I am pressing forward and making sure I buckle down and GET it DONE NOW not later.
Remember, every decision has a consequence. How are you handling your role as a Wife CFO today? What you decide impacts family – immediate and sometimes far away.
Planning for the week ahead
When you are in the Wife CFO hat is always important to have plan when it comes to the family’s finances and the many roles it play.
As I look towards this upcoming week – which no doubt started today, I look at the following:
1) What are the errands that I need to take care of this week?
2) What the expenses I will have this week?
3) Is there something I need to purchase for the twins when it comes to school or extracurricular activities? When you have some busy kids, there could always be something.
Then I shift to my other hat of CEO/CFO and say what decisions do I need to make about business:
1) Are there articles that I need to write and submit?
2) Do I need to place a marketing ad on a site that is within my target market? What is the cost, how many will see it and what could I expect in the way of a return on my investment?
3) Do I need to connect with other business professionals that are like-minded?
4) Are there any seminars that I need to conduct this week?
How do you plan your week or are you a wife that deals with things as they happen? Share your comments.
Saturday Reflection
Wives, yesterday was loads of fun and I must stop and share what happened. The expenses that were already accounted for on Saturday were as follows:
1) My retouch – of course that was not going to be an appointment I skipped since I had several meetings this upcoming week. Cost $115.00 (that includes tip).
2) Kids bowling league – They go every Saturday morning. Cost $14 total (they both are on the league). Would not miss that because you get charged when you miss a class.
3) Game Center – Kids were allowed to play in the game center after bowling. I had already set aside $3.00 in quarters for them.
4) Hubby wanted to purchase some lightbulbs. For some unknown reason most of the lights in the kitchen burned out last week. Solution: Dollar Store! Total $6.00
5) Then for the several items that needed to be replaced on grocery list – ended up being $22.00
Was I pleased that more was not spent. Of course I was because that meant everyone stayed with their boundaries – even though once he and the twins finished running around, they were saying what about lunch.
Solution: Came home and prepared lunch! YEA! I was very proud of everyone.
Question: Can you and your spouse work together for the GREATER good when it comes to money?
Saturday Hat – CEO/CFO
This morning I got up at 5am with the CEO/CFO hat kicking in strong. Got up and came downstairs to the office so I wouldn’t disturb anyone. Opened up the laptop and turned it on and of course, the ideas came flowing in.
I am sure some of you are living this very life. One of the first things on my list for this morning was to review a couple of documents and respond to emails. Yes there were emails waiting for me – didn’t matter that it was Saturday.
Next on the list is to evaluate an invitation to have a vendor booth at a local event. So I will be weighing exposure, cost, what is my expected return on investment and cost of materials needed for vendor booth. TIP Wives: Every opportunity that is presented to you is not for you. We must not be anxious INSTEAD weighing all the factors and making an informed decision. Even in the last quarter, you must have a plan when it comes to your business.
As a CEO/CFO you must know the big picture. See not only am I CFO of my own business, I also am in the marriage.
So I slightly shift to the Wife CFO for a minute and look at what is happening this weekend – regarding extracurricular activities and looking at the week ahead. Breaking it down – what are we doing this weekend where money is being spent and how does it affect existing budget?
The other side to that is also, what is it that hubby has planned for the kids that I don’t know about yet that involves if any spending money.
True enough, I see that we are out of a couple of items that need to be purchased. Even though they were not accounted for, does not affect the budget in a negative way. Hmm, that may not always be the case for some – preparation and being aware of your finances is key.
Prior to leaving for my meeting, I will make sure everyone is on the same page for the day. Stay within the financial boundaries, don’t fall under the pressure of spending if you decide to go window shopping instead have fun looking at model homes.
Mid-day these hats come off and I get to be mom hanging out and having a mommy and daughter day. WOOHOOo and loooking so forward to creating more memories with our twins. What about you! Share what your Saturday is like.
12 Ways to Slash Groceries
Wife CFOs – I know one of the things we are always looking for is a way to reduce spending and utilizing that money for either a bill or a way to jump start our savings or emergency fund.
Therefore, today I want to share some ways to slash your groceries. My husband and I have done many of these because we discovered we were just throwing away too much money when it came to groceries and eating out.
1) Use coupons and watch for double coupons if possible. That means look at all the coupons for the local grocery stores. There was a time when two of our grocery stores were offering triple coupons. Granted that was many years ago and it was fun watching them battle it out.
2) Buy bulk items where you get the most from your money. We have a Sams and Costco membership. All of their products are not the same and the quality is different.
3) Stockpile shopping - I must admit I try to do this when I can. Remember when they were saying all the computers were going to crash and all that stuff – I was very against stockpiling. Every since we have had the twins, I am a big fan of stockpiling, especially when the sales are tooo good to pass up.
4) Drugstore purchases - think about this. How many of you have a drugstore directly across the street from your local grocery store? Have you ever compared the pricing of some items? Hmm, I have and there is a savings at the drugstore. Furthermore, the drugstore has its own coupons and sometimes the deals are tooo good to pass up.
5) Cooking at home – let’s get real. We all know we save money and eat healthier when we cook at home. Enough said!
6) Meal plan - this can be a lot of fun planning your meals for a week or two weeks. Whenever we do this, I notice that we save money and I don’t have the urge to call my husband and say, honey… I don’t feel like cooking can you stop and pick up dinner on the way home. That could cost anywhere from $20 to $40. Hmm, that was one meal when we could have purchased MORE groceries.
7) Biggest size is not always the most economical purchase. My husband and I have been in the grocery and did the comparison and said see smaller is better – you actually get more. Take a little extra time and compare.
When you are checking out, make sure there is not an error in the price when it goes through the scanner. I have experienced an error being made between the shelf price and what is in the system. Sure this could take a little more time on your part; however, if you purchased something because it was such a BARGAIN ensure that you get the bargain.
9) GENERIC – if you are stuck on purchasing name brand, you already know you are paying for the name. Doesn’t necessarily mean better. What is the difference in price between generic and name brand? Yes, I know that there are some things you cannot go generic on but there are a lot of things that you can.
10) Avoid convenience food – I’d also say comfort food to. When we eat based on convenience it also causes us to gain weight. Take the time to prepare your own pizzas and make it a family fun night.
11) Rain checks - when you plan to purchase certain items and they are not there, be sure to get your rain checks. I remember my husband getting rain checks for one of our favorite items and then I got some too.
12) I’d also say plan your trips – so when you are out get all your shopping done at once. That saves on gas.
These tips can cut your grocery bills. I’d say make a game out of it and see how much you can save from month to month. Have fun!
You are more than welcome to comment and share a tip on how you save on groceries!
Unexpected Expense Arises
I know we have all been faced with unexpected expenses and it is all about how you handle, whether it goes away or something else presents. Therefore, I want to paint a picture and you write in and tell me what you would do. Remember a couple of things before you write in:
1) It’s all about how you present the information
2) Do not leave out any details so a wise and informed decision can be made.
Scenario: The refrigerator went out in Jane and Roger’s house. Her husband, Roger called a repairman to come and tell them what was happening. The repairman came in and said to fix the refrigerator would cost them $575.00. Roger tells Jane it would cost $575 to fix the refrigerator and he could go buy one for $720. Jane says the $575 would wipe out their cash and to find out what is the repairman’s charge for telling the what was wrong. Roger talks with the repairman and he says $55. As Jane approaches the hallway, she hears the repairman saying he could fix it for $400 cash!
Jane and Roger do not have $400 cash in the home, also Jane had just finished paying their other bills. So Jane pays the repairman the $55 and he leaves. Jane and Roger sit down to discuss what is going to be their next course of action –
1) Do they try to get the $400 and get their refrigerator fixed?
2) Do they go to a local store and purchase a refrigerator hoping they can get credit – thereby creating some debt?
What would you recommend and why?
Norms
Wives, I have not been a person who likes to go along with the norm. So when I saw this article today about “Five new normals that really will stick” – I can’t say that I was pleased. Why? Because what is considered the norm does not necessarily mean it is a good thing.
Let me give you an example of one of the “New Normals”
1) Long-term unemployment – Says, “With the jobless rate standing stubbornly close to 10%, it’s tough not to wonder if high unemployment could be a long-term fixture of the American economy”. What do I think about this – let’s not pull any punches – I do believe if anyone wants a job even in these difficult times they can find one. Sure, it might not be the job they want but when it comes down to paying bills, putting food on the table and keeping on – there are jobs at McDonald’s, retail outlets needing shelve stockers, etc. I have spent a little bit of time reviewing even some of the online job sites and there’s work out there. People have to decide what is important to them!
2) Saving over spending – People have overspent for too long. I must say this is one of the ones that I could see happening and SHOULD have been happening prior to this economy shift. I know it is difficult to save and that is the reason I started the 24 week Savings Financial Challenge. We have to start SOMEWHERE! When you choose not to save you tend to open the door for emergency to happen and you will be caught unprepared financially.
I have not ever been one to follow the crowd and do something just to please a group. When it comes to your being the Wife CFO be honest with yourself about what the financial picture is, what changes and/or adjustments need to be made. Do not let the media dictate to you, how you should handle your finances or your marriage.
Do what is opposite of the norm in order to get a better result. The norm I believe tends to box you in and say there is only one way things can happen! Hmmm, not true! There is more than one way to accomplish what you want done. Put on your thinking caps as they say and brain storm for a more creative way!
Forgiveness
Wives, I interviewed Enrique Pascal last week on Money and Marriage Xposed and this Brother shared the real about forgiveness. We didn’t even get to the forgiveness and finances part; however what he shared was dynamic when it comes to individuals and marriages.
I want you to listen to this interview if you struggle with unforgiveness because he clearly gives you a step that you can take to make it better. Furthermore, he shared about why marriages are under attack. Let’s face it they are even moreso now than I think they have ever been before. I agree with what he has shared and hopefully within the next few weeks will have him on for Part 2 and address the remaining issues.
Go to this link below and I highly recommend just listening and then listen a second time with pen and paper. Below is the link to listen to Enrique Pascal teach on forgiveness. I have not ever heard forgiveness taught like this and you deserve to hear it for yourselves. What was shared could definitely impact your relationship.