Category: Money

Career, finance, money management

power of the pocketbook

Posted on by Amada Acosta Addair in Money

I believe that one should use their resources, when they can, for good.

I am not someone who loves to shop. But, I will shop for good. I will buy items from friends who are in direct sales. I will stop at a roadside stand to support a local business person. I shop the small businesses in my town whenever I can. And… I am the person who will not go to a place if that business does not align with my belief system.

Case in point…

For years, I have avoided places like Hobby Lobby and Chick Fil A because I do not like the causes that they support. I do not hate on them. But, I will never volunteer to go to these places. In fact, if others suggest I will politely decline. I simply say, “I do not patronize that business.” I do not make a big showing of it.

In 2020, the US Supreme Court ruled in favor of a Trump administration regulation that allows businesses to opt out of providing their employees (through health insurance) free birth control. Businesses are permitted to do this if they have “religious and moral objections.”

Prior to that administration’s regulation update, an Obamacare mandate required company health insurance policies to cover birth control. As a result, millions of Americans have had access to free contraceptives. Unfortunately, thanks to this SCOTUS decision, those same people will now incur out of pocket costs for their contraceptive care.

Sexism in sexual enjoyment.

Here’s the problem that I have… viagra and other erectile dysfunction medicines are covered by health insurance companies. Why? Where is the equality?

So what are we to do? Well, I ask each of you to recognize the incredible power of your pocketbook.

Of course, corporations don’t care about our opinions. But they do care about money. They care about you spending your money on their shit. So, stop pending money with corporations who do not support their employees. This year, I will be focusing on encouraging on friends, family, and fans (do I have any fans 🤔🧐?) to use their #Pocketbook #Power by #boycotting companies that do not provide this essential benefit to their employees.

State Action

In 2021 and 2022, this US Supreme Court, now tainted with THREE Trump appointees are allowing States to get in on the action of impeding women’s autonomy. Texas an southern states are limiting women’s right to obtain abortions. These are the same states that think it is perfectly acceptable for people to choose a vaccine that can help save lives!

A way for us to impact these states on s to avoid traveling to them. It also helps to ask organizations to whom we belong to avoid scheduling conventions or programs there.

More importantly, write to the leadership of that state and tell them that you will not travel to those states due to their unfair laws. Remember States benefit from the tax revenue that is generated when you travel and use hotels and spend money there.

For those of us already living in such states we can do a variety of things. We should reach out to our State government officials and ask them to vote against such initiatives. If you have the financial capacity, donate resources to organizations who are working against such initiatives.

How do you use the power of your pocketbook?

You Need a Plan!

Posted on by Amada Acosta Addair in Money

Any goal, whether it’s short-term like going on a weekend trip or long-term like completing a degree, requires a plan. But planning is not easy. It requires, more than anything else, a sense of self determination.

Ever since I was young, I have noted something odd from my Mexican mama… an unwillingness to plan too far ahead into the future. Whenever a plan comes up for the coming year, my mother invariably ends the conversation with “Con el favor de Dios” or “if it is in God’s favor.”

What this means is that she usually would prefer to avoid all conversation of that topic until said event is closer in time.

I didn’t understand that for a long time. I saw it as short-sighted and overtly religious. I would become frustrated by my mother’s unwillingness to grab the world by the collar and shout “THIS IS WHAT I WANT!”

It took me a long time to realize the truth. My mother has never really had the freedom of self-determination.

As the second oldest daughter growing up in a Mexican family led by a single mother, my mother’s life was not her own. Despite her talents as a folkloric dancer, an ability to get a scholarship to the Autonomous University of Chihuahua and a dream to become a teacher, she entered the workforce to assist her mother to earn money in order to support her younger siblings. She provided for her mother’s children from the time she was 18 until she turned 20.

At age 20, my mother had her first child, me. From that point forward, my mom’s entire life was about her children and their potential. She worked difficult blue collar jobs to ensure that her children had everything they needed.

She never had the luxury of thinking about her own goals. She has never been able to even contemplate “am I fulfilled by the work I am doing?” After all, feeding and providing for her children was what mattered. We were her fulfillment.

But, she did create that opportunity for my siblings and I. Understanding that, it has become very important for me to have dreams and goals, create and execute plans, and, most importantly, achieve the life I endeavor. Planning and succeeding have become joyful acts for me. For that reason, I have tried to learn as much as I could about planning for success.

How to plan

Planning for the future is necessary. There are several things that one must do to create an effective plan that will lead to success.

Think of all the possibilities

In our world, just about anything is possible. To begin making a plan, you must start with thinking about what you want. Once you have done that ask yourself “what.”

“What do I want?”

Understanding what you truly want out of life is the most critical thing to making a plan. So start by thinking what. Of all the amazing things in this world, what do i want most? Don’t be shy about it and don’t shrink from the truth. “To thine own self be true.” This Shakespearean quote is powerful because it demands rigorous self honesty. So, be honest, what it is it you want?

Next think, why? Why do I want this? Why is it important to me? This question is critical because it helps analyze whether or not you have the motivation to take the goal from idea to completion. Additionally, it will help you discover all of the ancillary things you can do to further your goal. For example, if my goal is to lose weight, thinking it through may help me identify that working out is nothing the only thing I must do to succeed. By thinking it through, I may identify “eat out less” or “cut alcohol calories” as additional “to dos” to my success matrix.

Write it all out

Writing out a plan can be fuel for success. The act of writing your plan can give you a sense of direction. Plus, it affords you the opportunity to check in frequently on thst goal. According to planning guru, Michael Hyatt, the success comes from the frequent check in.

Break it down

An important result that comes from writing your goals and creating a plan is the ability to break it down into bite size pieces. The break down will help identify all the pieces necessary to accomplish the goal. Returning to my lose weight example, I may determine that four actions will help achieve the goal.

If I see that change in diet, cardio, and lifting weights are the key to success, the break down let’s me pick one to start. So, after breaking it down and writing it out, I may determine that changing my diet starts on 1/1. I would then give myself a month or two to get that under control before I start cardio on 2/15 and incorporate weight lifting on 4/1. The idea behind this is to reduce the stress you create by wanting to do it all. Sometimes when you overwhelm yourself with goal, you don’t complete it because you try to do it all immediately.

Don’t stop

Lastly, to be successful in your goal, don’t stop. Even if you have a bad day or week, give yourself patience and remember that just because you did not do great today or this week doesn’t mean that you have failed. But, it means you have to say to yourself, I’m not perfect and even though I did not do the best today, I cannot stop until I accomplish my goal.”

This is the most important piece because you will mess up. But, if you remember that you cannot stop until you succeed, the occasional missteps will not make you feel like you failed.

Now it’s your turn, tell me…

What steps do you take to succeed in your goals?

Money Matters

Posted on by Amada Acosta Addair in Money

Growing up, my parents did not discuss money with their children. They saw themselves as responsible for their five children, to be certain. They worked hard to ensure that they met their obligations to us, for sure. But, they did not have conversations with us about how money was earned, budgeted, or dispersed.

We understand why parents do this. Most parents want their children to be children. They want their children to grow up without the anxiety of knowing how the adult world operates. But, by doing this, parents fail their children. We miss out on providing their children with the most important education piece of their lives. The education about how money matters.

After all, not everyone will need to understand the complexity of the pythagorean theorem or how to play the violin. But, everyone needs to know how to manage their money and plan for their financial future. The lessons we teach our children about money will help improve their chances of success and happiness in the world. Here are a few lessons that are helpful for our children to learn…

The Importance of Money

In my opinion, the first and most crucial lesson our children need about money is its importance. We must educate our children that MONEY IS IMPORTANT because it is required in order to live in this world. But, we must also inform them that MONEY IS NOT THE MOST IMPORTANT THING IN THE WORLD.

There is a crucial balance in this lesson. We want children to learn that they must work hard to achieve their goals. But, we must also help them learn that simply earning money is not the goal itself. We need to teach them balance. We need them to learn that ambition can become greed.

What’s more, we must teach them that not everyone has had the same education about money as they have. We must teach them that others will value their money more than they value them. We must educate them to be generous but not someone else’s ATM.

The Importance of Budgeting

Children are insatiable. They want everything and they want it now. We must teach them to balance their immediate desires for things with the needs that they will need in the future.

There are several ways we can teach them about budgeting. Some parents provide children with some money that they must then budget. But, without teaching them the valuable lesson of earning money, they do not learn the importance of working for what they have.

Another difficulty of this lesson is that we do not really know what our future needs are. We assume that things will always be as they now are. But, there is just no guarantee of that. Children have that same difficulty. To them, the idea of growing up is not equated with the idea of growing old. They do not envision themselves as older and incapable of earning money. Truth be told, there are some adults who fail to grasp this concept. For that reason, many fail to plan for things like retirement or disability. But, giving a child some education on this will increase their likelihood of successful long-term planning.

The Importance of Charity

Finally, an important lesson that we are failing to teach our children is the need for charity in the world.

While I do think that it is crucial to teach children that others should not use them (I’m thinking gold-digging significant others), I nonetheless believe that for our planet to improve we must push for a spirit of charity in our children. One way that you can do this is by forcing your children to filter through their clothes and toys for the purpose of giving items away. An important component is to resist letting them sell items. As they get older, teach children to give their time to a cause and finally teach them to set aside a percentage of their income to give to charity.

By inculcating children on the importance of budgeting, charity, and money, we can further enhance their education to create the type of society that this world needs and deserves.

WHAT ARE IMPORTANT LESSONS YOU THINK CHILDREN NEED ABOUT MONEY?

Are You An Entrepreneur?

Posted on by Amada Acosta Addair in Money, The Future is Female, Wise Latina

There are people who believe that it would be luxurious to never have to work. They dream of spending days free of responsibilities.

Then there is a different type of person. They recognize that their key to happiness is not to be free from obligation. Instead, their happiness is derived from creation, nurturing, and growth. This is the person who wants to see a vision come to fruition.

This is the entrepreneur!

But beyond being the person who takes on the financial risks and legal responsibilities of starting and running a business, entrepreneurs are people who have a vision for a different future. But, bringing a vision to fruition can be taxing and time-consuming. It requires understanding several things about yourself and your business. If you want to become an entrepreneur, there are five things you need to consider.

Ideas Matter

An entrepreneur without ideas is not an entrepreneur. After all, before you can start a business, you must have an idea of the type of business you wish to have. If you are interested in being an entrepreneur but you are not clear on the type of business you want, use the following list to help you get started:

  • What am I good at? (To have a business, you must have a basis of understanding in the business, ergo, you must have some competence in the area of business.)
  • What do I enjoy doing? (It is not enough to be good at something, you have to enjoy doing it.)
  • How much time will I need to take this concept from idea to executable concept?
  • Who do I know in this field that can serve as a mentor? (Remember, questions are going to come up that you will need to ask someone.)

The idea you have does not have to be revolutionary. You can take a simple idea and turn it into a very successful business. But you have to start developing your idea.

Execution Matters

Entrepreneurship requires starting with a big concept and making it a reality. It means not stopping until you have achieved your desired outcome. Many people get overwhelmed by this. I know I did. At the end of 2020, my husband and I created a retail CBD and smoke shop. When we first got into the building we rented, I was overwhelmed. The space was previously leased by a head shop and the entire space was painted in black!

We renovated it using the colors white and lavender (Party Hat by Behr.) Have you ever tried to paint over black? It was not easy. It took significant time and money. We had no choice but to do the work, one paint stroke at a time. If we had failed at this critical point then we would have not gotten it off the ground. We would not have been able to open the doors on December 12th; so we hustled until the work was done and then celebrated with a grand opening party.

But, that was not the only challenge we encountered. From the moment we conceived the idea, it was a series of moments where execution was critical. Have the concept? Decide on a name for your business. Have a name? Secure the website. Have a website? Decide on marketing ideas.

It keeps going and going. The execution never stops.

Money Matters

A sad reality of entrepreneurship is that money does matter. The old adage that states that you “need money to make money” is an old adage for a reason. You will need to have some seed money to start the business you endeavor. Here are some places where money will need to be spent as you start your business:

  • Business formation (registering your business with your state, trademarking a logo, etc.);
  • Business marketing (purchasing a domain, doing your own website or hiring someone to do your website, preparing and creating signage, flyers, loyalty cards, etc.)
  • Business basics (leasing or buying a location, purchasing products, hiring employees, basic hardware, and point of sale software); and,
  • Business management (employee training, bookkeeping services, and general tax issues.)

There are a large number of places where you can spend money on your business. But, by determining what things you can and do enjoy doing, you may be able to save yourself some money.

Planning Matters

You will notice that in this article, planning comes after execution. But, this is the only time that it will. Planning is what helps you take your idea to full concept. Planning will help you ensure you have a roadmap for your idea’s success. It will help you create reasonable timelines and it will help you budget correctly. In fact, planning is the piece that ties all of the others together.

While it is true that not everyone is great at planning, there are some things that you can do to help you in the planning phase.

Time Matters

Of all of the things that you need as an entrepreneur, the most important is time. After all, you cannot start and grow a business unless you are willing to put time into your business. You must nurture your business every step of the way.

An important caveat, you should not be the only one working your business. For example, if your entrepreneurial concept is a restaurant, you cannot be chef, waiter, dishwasher, and front of house all at once.

If you try to be the jack of all trades, you will end up being the master of none. But, if you select one piece of the business that you can do exceptionally well and hire others to do the other things, you can success. For that reason, I recommend that you devote your time to the things that you a)enjoy and are good at, and b) will help you level up your business. The other things should be delegated.

What words of advice do you have for entrepreneurs?

2020: Made to See

Posted on by Amada Acosta Addair in Loving the Land, Money

20/20 was previously associated in my mind with perfect vision. Prior to 2019, I longed for the clarity that the number brought.

But after the year that was last year, I know see 2020 as the Christmas Carol of years. The ghosts of America’s Christmas past (slavery/racism), present (pandemic), and future (climate change), came into the forefront.

And, much like Ebenezer in the well-known tale, we have an opportunity to turn this shit around. The forewarning should be heeded. This is the impetus for us engage in best practices.

Anti-racism

I am not trying to pretend that I am an expert in anything. So please do not take my tips as anything more than well-meaning suggestions. To work on your own thinking the best thing you can do is look for content from various mediums.

One of the things that I do to break my own stereotyped or unbalanced thinking is to read. So try it. Read books about how to combat racism or that re-educate prior thinking. I also seek out documentaries and positive films. Watch movies that highlight the potential of people of races other than your own. And most importantly, think before you speak. Force yourself to think differently. Be kind. Be sensitive. Don’t joke about people’s differences. Look at others as fully realized people. Don’t make assumptions about other people.

Pandemic

I don’t foresee my life returning to the “pre-pandemic” normal. No. I have learned too much. Instead, I see myself adopting new practices that were learned in 2020 to maintain my health. First, masks. It goes without saying that I will continue to wear masks and socially distance until I complete the round of vaccines. I encourage all to do so. But, even after that I will continue to incorporate them into daily life. I intend to wear masks out in public anytime I feel under the weather. I do not intend to return to the practice of shaking hands. Most importantly, I intend to maintain the practice of being grateful and kind to all front line workers.

Climate Change

Although climate change always feels monumentally large, remember that everyone must make changes in their behavior to improve our planet’s health. During the lockdown that started in March, the planet saw small improvements to the carbon emissions. This was a surprising benefit of the pandemic. But, it did encourage me to think more about the planet’s nonhuman inhabitants. I placed food receptacles out for squirrels and birds in my backyard. I have continued that practice into the winter. I have had the benefit of seeing bluejays and cardinals even into December.

Of course, feeding a few small creatures is not enough. Other things that I am trying to do are using my vehicle less and being less wasteful. Other opportunities that we can all take include: buying local products to reduce your carbon footprint, donating to worthwhile causes, and participating in waterway or roadside cleanups. Plus, the most important thing we can all do is encourage corporations whose products we buy to make more environmentally conscious choices. After all, it is corporations that are the biggest contributors to climate change.