One of America’s big name money coaches, Jean Chatzky, has released a new book on financial independence called, The Difference. I haven’t read it yet because as of today at 11am until 10:59am on Saturday, she is offering a free download of her book at Oprah.com! I think this book will have great ideas on how to change from living paycheck to paycheck to living in comfort.

The Difference consists of 8 key elements:

1. Happiness and Optimism

Some people think money buys happiness, but according to Chatzky, being optimistic leads you to success because it enables you to solve problems, create ideas, consider long range consequences and come back and try again if you miss the first time.

2. Resiliance

This refers to the ability to recover and keep it moving; acknowledge your mistakes, let them go and turn your focus to things that you can control. Overcoming obstacles will always be a trait that leads to success.

3. Connectedness

This element deals with social capital; the asset created when relationships between people lead to positive action. Make time for people and put yourself forward as a leader. One connection could change your life!

4. Passion

According to Chatzky, passion is the key element that moves people from a life of financial struggle, to one of financial success. If you feel as though it may not be feasible to do what you love, she wants people to know you can learn to love what you do.

5. Intuition

Over the years of past experiences and patterns, information tells us that if one thing happens, something else is likely to follow and we feel these in our gut! Listen to these hunches and don’t search for them, allow them to come naturally.

6. Habitual Saving

I always used to feel the need to spend every penny I made, but when I put my financial goals down on paper, I found joy in saving. You don’t necessarily have to penny pinch, but finding a balanced way to reach your goals will make you financially stable in no time!

7. Invest

When I read The Difference‘s snippet on Investing, it reminded me of last week’s article from Brad Lamb on Investing. If you missed it, CLICK HERE to read. The wealthy understand the need to take risks in the market, in good times and in bad, in order to make their money work as hard as they do.

8. Gratitude

The Karma Kickback. Be thankful for everything you receive as a result of your hard work and in return, give back in the little ways you can. Volunteering can really put things in perspective for you. When you think of your job as a gift, you focus on what life might be if you didn’t have it.

Don’t forget to download your free copy of this book today and remember, finance isn’t the easiest thing to think about but if you face it and set goals, you WILL be much better off in your future! 

PS It’s never too early and it’s NEVER late!!!!

xoxo, 

Lowe

“Be thankful for what you have; you’ll end up having more. If you concentrate on what you don’t have, you will never, ever have enough.”

Oprah Winfrey

Whether you spend your money on clothes, booze, cabs across the city, pampering yourself or tipping every worker in a club (*sigh) frivolous spending is an unhealthy way to get into debt fast. It’s time to go on a diet!

The DEBT DIET, featured on Oprah.com is a step program to help you face your financial health. Here it is broken down:

1. ACKNOWLEDGE YOUR DEBTS

Stop running or hiding, just deal with it!  Write down everything you owe. You can print out this worksheet

2. CUT BACK

Get a polish change instead of a manicure, a long shot of espresso instead of a double, plan to do your own hair instead of going to the salon. These are all ways to save and still live your life!

3. SET A DEBT GOAL

With the money you save on the minor changes to your lifestyle, take that amount you save, whether it be $5/day or $10/day and pay off debts weekly or monthly. $5/day is $150 a month!!!

4. STOP SPENDING

Leave your credit card at home so you don’t start buying bottles of champagne in your drunken state…(don’t ask L )

Also, the little purchases add up. Be aware of what you are going to buy and make a list so you don’t start buying things you don’t need.

5. CREATE A MONTHLY SPENDING PLAN

This chart is relative to your income. If you don’t have a fixed income, like me, I have a personal spending plan that I call THE ENVELOPE SCOPE

**Click here for a more detailed spending plan**

6. HARD WORK PAYS OFF

Don’t be lazy. In fact, getting a second job can keep you busy, social, and can help you save loads of money! I would save bags of dough if I had a part time job at Starbucks!  (WOW! I just gave myself an idea!)

7. PRIORITIZE YOUR DEBTS

Figure out which debts are more important and focus on paying them first, but make sure to communicate! Call and set up payment plans, this will help you stick to your goals and will force you to find the money.

8. UNDERSTAND YOUR SPENDING ISSUES

Living beyond your means can cloud your perception of reality.  You don’t have to spend tons of cash to feel good and look good!!