"What Money Has Taught Me About Personal Power"

In September 2009's O Magazine Suze Orman shares the great many lessons money has taught her. I think we can all learn something from these...

1) Power comes from who you are, now what you have

2) Money has no power of its own

3) Self-Worth builds net worth

4) Do what's right, not what's easy

5) Ignorance is not bliss where money is concerned

6) How you respect your possessions says a lot about how you respect yourself

Her article ends with,

"Take the time to learn the lessons that your money can teach you, and you will be on the path to building lasting and gratifying internal power."

For the full article: http://www.oprah.com/money/Money-Lessons-from-Suze-Orman

Why Must We Worry?

Dear Friend, Don't worry, be happy In every life we have some trouble When you worry you make it double Don't worry, be happy~Bobby McFerrin

And This, Too, Shall Pass. Life is about embracing change.

The phrase "And This, Too, Shall Pass" has numerous said origins. Some say it was engraved on a ring created by a subject of King Solomon for the King to wear to bring him out of depression. Another take says a minister revealed the phrase to an Indian Prince for the same reason. Even President Lincoln called upon the phrase. Eckhart Tolle suggests to us in A New Earth the deeper meaning of the words is that everything in life is transient - fleeting.

So, too, I suggest to you that whatever you are dealing with right now - in your professional life, in your personal life or in your social life - remember "And This, Too, Shall Pass." It is easy to get caught up in the drama of the moment. It is easy to fall victim to the unending negativity. Today it is about the economy, yesterday it was about _______________ tomorrow we shall find another mishap over which to lament.

And yet, where will this worry get us? That is just it. It uses up our energy, wastes our time, and depletes our sanity! When we fall prey to worry we relinquish our power. Did you know that over 85% of the population is worried about something? Worrying keeps us from enjoying life. Most of worrying is just wasted energy. A study in Clinical Psychology & Psychotherapy found that 85 percent of the things we worry about never occur!

Make It Happen

This week I'm asking you to:

• Take a longer perspective - look long range.
• Evaluate each "big worry" and ask yourself, "Can I impact this situation?"
• If yes, take action! Consider what one or two actions you can take this week to ease your worry and put you in a proactive role.
• If not, contemplate the Serenity Prayer

The Serenity Prayer God grant me the serenity to accept the things I cannot change;

courage to change the things I can;

and wisdom to know the difference.

• Allow the phrase, "And This, Too, Shall Pass" to provide some comfort to you - that indeed the hard times will abate.

The Virtuous Life - Frugality

Dear Friend,

Industry, perseverance, and frugality make fortune yield.

-Benjamin Franklin

Benjamin Franklin identifies frugality as one of his thirteen virtues. He glorifies saving money and wasting nothing!When you think of modern day examples of frugality who comes to mind? For me it's, Warren Buffett, Sam Walton, and Mother Teresa. They each, in their own way, illustrated to the world their need for less. Warren Buffett - lives in a modest house in Omaha and has vowed not to ruin his children's lives by giving them too much money upon his death. Sam Walton - although extremely wealthy and successful drove an old pick-up truck. Mother Teresa made her life's work about service to others. Rather than celebrate her awards with fancy and expensive dinners she insisted the money go to people in need. In essence each of these people could have used their vast wealth and resources to amass possessions. Yet they didn't - they gave lots away and spent far less on themselves than they could have. I believe there are three simple ways we can bring frugality into our lives today.

Save - Spend less money than you have Tip 1: Take an inventory of your money in and money out. Review your credit card statement and see where you can cut back.Tip 2: If you have debt, come up with a plan to pay it off.Tip 3: Put into place some fool proof systems to save your money. For example direct deposit of a certain percentage of your pay check into a savings account.Tip 4: Seek professional help to create a process. Search the FPA database for a financial planner in your area. Exercise Restraint - Spend money on what you need, not what you want Tip 1: If you see something you want to buy, put it on hold and then if you really want, need, and can afford it - go back and buy it!Tip 2: See if something that you already have will make do - rather than purchasing a new item.Tip 3: Don't put yourself in situations where you want to spend money - spend time walking with friends, hiking in nature, tutoring, reading a book, and enjoying the simpler things in life. Share - Generosity is a cycle that must begin with us Tip 1: There are many things that we throw away that could easily be shared with others. Some items include: books, furniture, clothes, purses, and sporting equipment.Tip 2: Each month make a conscious decision on how you will share what you have with the world. This can be done through money, time, or even sharing your services. Take stock of what you can give and as Oprah says, "Give Big or Go Home!" Take Action Challenge: My request is that you review the three steps above and evaluate what you need right now. For example, if you need to save a little more money begin putting together your plan. If you need to show some restraint, perhaps you can ban all unnecessary mall visits or curtail e-buying for a month. If you need to be more generous decide how will you bless the world with your time, talents, and possessions. Take two minutes right now to search your life to see what action you need to take to be more frugal in some area of your life . Once you've decided upon your action, tell a friend and give yourself a deadline so that you have some accountability. May you be successful in this journey. Blessings to you, Margaret. P.S. Encourage your friends, family, and colleagues by sharing this newsletter with them and invite them to subscribe! Direct them to www.MargaretPundmann.com where they can sign up. Margaret Pundmann is a life and business coach, speaker, and author of numerous articles on living your most powerful life. Stay tuned, this October Margaret's first book on powerful living will be available for pre-order.