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Financial Profundities |  |
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Hello and welcome to Financial Profundities, an ad-hoc e-newsletter designed to expand your knowledge on a variety of topics that impact your money and your life.
Me telling you that the Dow Jones Industrial Average fell nearly 700 points earlier this week, after this information has appeared on every news medium available, is likely to garner a "no shit Sherlock" reaction. Which is the way I reacted to the reason given for Monday's precipitous drop; apparently, the American economy is in a recession! Many of us acknowledged the recession months ago and others of us have been feeling the effects of it even longer. But now, it is declared "official." Duh!
At times, stating the obvious can be amusing. It can also be jarring. And jarring can be beneficial. I think some good can come from Monday's official pronouncement that our economy is in a recession. From my viewpoint, it may be just the jolt people need to (finally?) re-think the way they work and how they work - in any economic environment - taking useful cues from successful freelancers.To start, successful freelancers do not make assumptions about stability. Therefore, the volatility of the market doesn't affect their psyche or their finances in the same way it does traditional 9-to-5ers who presume secure, steady employment. Second, they tend to have multiple clients and therefore multiple streams of income; to fund their livelihood, they don't rely on one source, or one employer. Third, they are always looking for the next gig; complacency is not a viable option. Most people describe our current economic environment as "bad." I do not and I say that fully aware that today's unprecedented conditions have had a devastating impact on some people, especially if they have lost their jobs, homes, and faith and confidence. The market is always volatile; it is just more noticeable when times aren't good. "Bad" times, however, force you to pay attention in ways you can easily overlook during "good" times; "bad" times remind us that the freelancers way of living and being should be adopted by non-freelancers as well. We would all benefit.
Session One: "Half Full" is a 45-minute open call. The financial crisis has affected each and every one of us, even if not equally. Tough times such as these provide a fertile ground for sharing, learning, and growing. As we wind down 2008 and gear up for 2009, we are hosting this call-in to provide a platform for you to share how you have responded to the financial crisis - what changes, tactics, and/or ideas are you employing to help you confront your financial challenges? Whatever you are doing or experimenting with to convert your slow-downs or setbacks into opportunities just might be what someone else on the call needs to hear or try... and vice versa! Join us on Tuesday, 9 December at 8:00 p.m. for the "Half Full" call-in.
Session Two: "Mortga ge Hell No More" is a 60-minute tele-seminar session designed exclusively for mortgage holders who are in need of their own bailout plan. My guest this evening is Harold Ford, president of Global Real Estate Holdings, specialists in foreclosure consulting and workouts with banks.
If you answered "yes" or have a relative or close friend who would answer "yes," this is a session you won't want to miss. You will learn what you can do to save your home and regain your peace of mind, and/or gather valuable information on behalf of someone for whom you care deeply. Join us on Wednesday, 10 December at 8:00 p.m. for the "Mortga ge Hell No More" tele-seminar.
Modeled after the workshop of the same name, we offer the Stop Treating Your Money So Poorly Workbook (tm). It is a 48-page workbook, which consists of ten worksheets that will provoke you to think about money differently, inspire you to identify and examine your habits and help you make the choices that are right for you, at the right time and in the right way. The workbook is $24.95; the PDF downloadable version is $19.95; both can be purchased directly from Sterling's website. Virtual training support is also provided with your purchase.
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