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THIS WEEK'S TOPIC:
Is it time to strengthen your financial foundation?

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IN THE NEWS:

* ONLINE STORE SPECIAL: Signed copies of all three books for $39 -- Rich Minds, Rich Rewards, Listen to Your Life and What's Really Holding You Back? http://www.valorieburton.com/bookspecial.html

* LISTEN TO YOUR LIFE DVD NOW AVAILABLE in the online store!
My new 8-session television seminar based on my books Listen to Your Life and What's Really Holding You Back? is now available on DVD for just $29. It includes a downloadable study guide and a 20-minute Bible-based bonus teaching about how to overcome self-doubt and fear. Go to http://www.valorieburton.com/dvd.html

* NOW SCHEDULING 2006 SPEAKING ENGAGEMENTS!
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THIS WEEK'S TOPIC:
Is it time to strengthen your financial foundation?

"Finish your outdoor work and get your fields ready; after that build your house." - Proverbs 24:27

Dear Friend,

I have been enjoying vacation all week, watching the sun set over the Potomac each evening and unwinding from a hectic summer. I hope all is well with you. In keeping with taking the week off, I am sharing a message that I wrote to you in January. This was also our topic for the July telegathering, which yielded the highest attendance of all of our telegatherings this year. Enjoy ...

In the poll that many of you have responded to on ValorieBurton.com, one of the most common obstacles to success that many of you identified is money. Whether it is too much debt, damaged credit, lack of savings, or not having enough income, financial challenges can be very stressful and discouraging. The stress and uncertainty of not having a firm financial foundation can make it difficult to see how you will ever bring your vision to fruition, but don't let money become the obstacle that keeps you from realizing your potential. It is critical to your success strategy to focus on building a firm financial foundation to support your goals. In fact, it is a strong foundation in every area of your life that empowers build the life you truly want more easily.

Ask yourself, "What are the three worst financial choices I have made in the past?" and "How could I avoid making similar choices in the future?" It is easy to beat yourself up for mistakes, but a better approach is to simply acknowledge poor choices and seek to make healthier choices starting today. Here are 10 smart choices that will help you create a stronger financial foundation, less financial stress and the freedom to enjoy your life more fully:

10 Smart Choices that will Improve Your Financial Foundation

1. IDENTIFY PAST CHOICES THAT HAVE LED TO FINANCIAL FRUSTRATION OR STRESS - AND STOP MAKING THOSE CHOICES, STARTING TODAY.
One of the most important choices you can make with your money is to learn from your past choices. Use failure and frustration as a learning tool for future success.

2. PAY OFF CREDIT CARDS BEFORE OTHER DEBT.
High balances on revolving debt, such as credit card debt, negatively impact your credit score more than loans that are scheduled to be paid off in a set number of months or years such as a car loan, student loan or mortgage. One of the fastest ways to improve your credit is to pay down or pay off your credit cards.

3. STOP USING YOUR CREDIT CARDS UNLESS YOU CAN TRUST YOURSELF TO PAY THEM IN FULL EACH MONTH.
The average American household carries more than $8,000 in credit card debt with no hope of paying it off in the next 60 days, according to the most recent statistics. Make a decision to live within your means, using the money you have rather than money you have to borrow.

4. CHANGE YOUR LIFESTYLE IF NECESSARY.
Sometimes building a strong financial foundation requires sacrifice. If you need to "downsize" your lifestyle so that you can become more financially strong, do it! When you have a purpose and vision, and understand the importance of a firm financial foundation, it is empowering to make tough choices such as keeping your old car for a while longer, waiting to buy a bigger house, or curbing the shopping sprees while you save to buy your own home.

5. GET INSURANCE (health, life, home or renters, auto, and disability) THAT YOU FEEL CONFIDENT WILL MEET YOUR NEEDS IN THE EVENT YOU NEED TO USE IT.
No one ever expects a crisis, but it is comforting to know that in the event of one, your finances won't be completely destroyed. An illness, fire, or accident is stressful enough. Make sure you are covered in the event of unfortunate circumstances.

6. ESTABLISH A FINANCIAL CUSHION OF SIX TO 12 MONTHS OF EXPENSES.
Make this a priority goal and begin saving towards it, even if it takes you five years or more to reach your goal. Knowing that financial ruin is not a couple of paychecks away is a very empowering feeling. It will often keep you from making decisions out of fear and empower you to make decisions based on your purpose and vision.

7. INVEST TIME IN YOUR OWN FINANCIAL EDUCATION.
One of the main causes of financial problems is what I call "financial illiteracy." Some companies make a great deal of money off of the financial ignorance of otherwise intelligent people. Spend two hours or more per month learning about wealth building, debt elimination, investing, and real estate. Read books or articles. Attend a seminar. Learn from those who handle their money well. The more financially literate you become, the better off you will be.

8. REFUSE TO BE AN EMOTIONAL SPENDER.
Have you ever spent money on your children out of guilt? Or in an effort to win the affection or admiration of others? Do you shop when you are feeling down? Do you buy things you can't afford because they make you feel better about yourself? Have you co-signed on credit cards or loans even though your intuition told you not to? If so, you have engaged in "emotional spending," an expensive habit. Recognize your propensity to spend emotionally and make a decision to change your behavior. Wait 72 hours before making a decision about an impulse purchase. Question your motives before spending money. And make sure you spend your money in a way that reflects your vision and purpose.

9. HAVE A VISION. SET GOALS!
Last week, I challenged you to create a vision for the five key areas of your life. One of those areas is your finances. One of the reasons it is important to have a vision is because it serves as a reference point for where you are headed. When you are building towards something specific, it is easier to tell when you get off track. If you have no vision or goals, you often don't even realize you are on the wrong path until something goes terribly wrong!

10. PUT MONEY INTO PROPER PERSPECTIVE.
Having money can certainly make life easier, more convenient and less stressful. But always remember this: If your biggest problems are money-related, consider yourself VERY blessed. Money problems can be fixed. There are other more important things in your life - your relationship with God and the people you care about, your health and your integrity, to name a few. Don't allow financial frustrations to ruin your relationships, cause you to be angry with God, do things that compromise your integrity, or stress you out to the point of causing high blood pressure, panic attacks or other health problems. Count your blessings and remember that life's richest rewards will never be found in material things.

My challenge to you this week:
Re-read these 10 smart choices. Then decide what changes you need to make to build a stronger financial foundation for your life. Write them down and take action!

Journaling assignment:
What past choices have led to financial stress or frustration in your life? What could you do differently to eliminate this stress and frustration in the future?

Until next time ...

Warm wishes,
Valorie

P.S. Encourage your friends and family by sharing this newsletter and invite others to subscribe! Just send them to
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Valorie Burton, a life coach and speaker, is the author of Listen to Your Life, Rich Minds, Rich Rewards and her latest, What's Really Holding You Back?. She has been interviewed by CNN, InStyle, Self, Real Simple, Ebony, Essence, Black Enterprise, The 700 Club, The Los Angeles Times, and hundreds of other media outlets nationwide.
Subscribe to her FREE, inspirational e-newsletter at www.valorieburton.com.

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Please feel free to forward the Rich Minds, Rich Rewards E-Newsletter to friends and colleagues, but please forward in its entirety. The Rich Minds, Rich Rewards E-Newsletter is written and distributed by Inspire, Inc. Copyright (c) 2005 Valorie Burton. All rights reserved. http://www.ValorieBurton.com .

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