“BUDGETING YOUR WAY TO SUCCESS” BY MADELINE FRANK, PH.D.

Forbes magazine said, “78% of workers live paycheck to paycheck”.

Several of my university students have told me “their finances are a mess and their mortgage loans on their cars and houses are too high. They felt overwhelmed by their finances.”   I shared with them my Momma’s wisdom of budgeting and banking for their success.

You have overdrawn your bank account for the third time. Your rent check has bounced, your power bill check has bounced, your monthly insurance payment has bounced and your car has just broken down. Your bank has charged a transaction fee of $35 per bounced check. This is the fastest way to double what you actually owe by adding all of these extra charges. 

My Momma, Romayne Leader Frank, a lawyer and counselor, taught her clients and me how to budget our money. During my high school years Momma taught me to make a budget of my expenses, to keep a ledger of the money going into the bank and the money to be paid out for expenses. She also taught me to put my entire paycheck, after taxes were deducted from the pay check, in the bank. Then I would pay all my bills and take out only the necessary amount for food and necessities. The remaining money went into my savings account. As a college student in New York City, I always had a job to help me pay for tuition, apartment rent, utilities, and food. 

So, let’s get started and think this out together. You want everything in your budget. Whether it’s your personal or business finances, you have to have a plan in place for your success and you need to learn to budget your money.

What are the eight questions you need to answer to build your budget?

1.  Are you withholding enough money from your wages to pay for taxes?  

2.   How much money do you earn each month after taxes?   

3.   How much is your rent or mortgage payment each month?   

4.  How much is your power bill, gas bill, water bill, sewer bill, telephone, cell phone and  insurance for your apt/house, self and for the car each month? 

5.  How much does it cost to put gas in the car each week to go from home to work and then return home? Multiply the total amount by 4. 

6.  How much does it cost in groceries each week? Multiply the total amount by 4.   

7. How much will it cost for entertainment and new clothes per week? Multiply the total amount by 4.                                                                        

8.  Are you budgeting for unforeseen consequences such as family emergencies, loses not covered by insurance, emergency travel and other events? Include an amount per week and multiply by 4.

All your expenses need to be included in your budget. Once you have written down your total amounts for your bills/expenses per month you subtract them from your monthly pay check that you will be receiving after taxes. The amount that is left is the beginning of your rainy-day fund to invest for your future to eventually buy a car or a house.

The concept is to spend only what you have and to stay on budget. You cannot buy frivolous things that you do not need and cannot afford. You have to stay within your budget.

By having your budget in place, you will know exactly how much money you have left over every month to begin saving for your future.

Remember you cannot spend what you do not have.

By following these steps and learning how to budget your money, you will be budgeting your way to success.

This is the fourth article of my series on teaching you, to take hold of your finances. 

Madeline Frank, Ph.D., DTM is an Amazon.com Best Selling Author, speaker, business owner, teacher, John Maxwell Team Member, concert artist, and parent. She helps businesses and organizations "Tune Up their Business". Her observations show you the blue prints necessary to improve and keep your business successful. Her latest book "Leadership On A Shoestring Budget" is available everywhere books are sold. 

If you need a speaker contact Madeline at: mfrankviola@gmail.com

GUARANTEEING YOUR FINANCIAL SUCCESS BY MADELINE FRANK, PH.D.

When I was engaged to be married, my Momma, Romayne Leader Frank, a lawyer specializing in Family Law and Real Estate, was getting ready to give a speech to the Women’s Club on “Women’s Financial Success”.

My Momma asked me to listen to her speech to see what I thought of it! Momma spoke of the need for women to have credit in their own name, not in their husband’s name, their former husband’s name or their father’s name but in their own name.

Momma had clients who were widowed, divorced, and single who suddenly had no money or credit in their own name. The credit card and bank accounts were in their deceased spouse’s name, their divorced husband’s name or in their father’s name which meant they did not have any money or credit in their own name and were unable to pay their bills and take care of themselves and their families.

Momma said women should always have their own separate checking, savings, and credit card accounts in their own name so they would never find themselves without a way to support themselves and their loved ones.

I have over the years called our families accounts yours, mine and ours. The same name as the Lucille Ball and Henry Fonda Movie “Yours, Mine and Ours.” In the movie the title referred to children though not to money. Over the years, I have shared my Momma’s wisdom with many other women and men. Her speech was well received by me and all the young women and young men I have shared her principles with. Her speech has stood the test of time.

What are the 6 secrets my Momma, Romayne Leader Frank taught for women and men to be financially independent? 

1)   Open a savings account in your name at a secure bank, that is insured by the Federal Deposit Insurance Corporation, and start immediately to put your money in it to begin your nest egg. When I was 8 years old, Momma smiled at me and said we were going for a new adventure to the bank. She took me by the hand and we proudly walked into the bank. Momma introduced me to the teller at the bank, Mrs. Jay and asked me to hand in the $2, I had been saving. That day the teller entered my $2 into my new passbook, typed in my name on the outside of the book and explained, I would receive interest every day for the money I put in the bank. Every couple of weeks Momma would take me into the bank so I could add in the money I had saved from doing my chores. I enjoyed watching the money grow in that savings account. Momma taught me not only to put my chore money but later my future paychecks into my account to start saving for the future. By the time I went to college, I had saved a nice nest egg for the future.

2)   Open a checking account in your own name and put your money in it. 

3)   Get an American Express and or Visa Card at a low interest rate in your own name. Begin to use it immediately and pay your bill as soon as the statement arrives in order to establish your credit.

4)   Before purchasing your home, have a professional title search done to make sure there are no liens or prior owners. When you buy your home, make sure your name is on the title and spelled correctly.

5)   If you have a mortgage on your home, pay the bill on time. If the interest is too high, ask the holder of your mortgage to lower the interest rate. Always ask for a fixed rate mortgage. This will prevent your mortgage from being raised to a higher interest rate in future.

6)   If you buy a car make sure the title is in your name. If you are paying the car off each month pay the monthly charge on time. If the mortgage on your car is too high, talk to your mortgage company and have your mortgage rate lowered. Make sure you have a locked in fixed rate mortgage. 

This article is the third of four articles on teaching you, to take hold of your finances.

If you need a speaker contact Madeline at: mfrankviola@gmail.com

Madeline Frank, Ph.D., DTM is an Amazon.com Best Selling Author, speaker, business owner, teacher, John Maxwell Team Member, conductor, and concert artist. She helps businesses and organizations “Tune Up their Business”. Her observations show you the blue prints necessary to improve and keep your business successful. Her latest book “Leadership On A Shoestring Budget” is available everywhere books are sold. If you need a speaker contact Madeline at: mfrankviola@gmail.com

  

Curb Your Spending Habits & Save for Your Emergencies by Madeline Frank, Ph.D.

Your car just broke down and you don’t have the money to repair it! Don’t you wish you had an emergency fund to pay for it?

What's your first step?

Gabby and Jay are going to tell us how they did it! 

For one-week Gabby and Jay tracked every receipt and purchase they made including the ones for their computers. They kept all their receipts and expenses and wrote them down in a note book. They included every purchase they made even small purchases for sodas, snacks, lunches, dinners, breakfasts, groceries, going to the movies, purchasing snacks, gas for their cars, cigarettes, and any other items they purchased that week. Jay and Gabby also wrote down their weekly spending for pay pal accounts, group on offers, credit cards, game accounts and iTunes accounts on their computers.

Gabby saved all her receipts for one week and totaled all her receipts. She looked at her first couple of receipts and realized she had gone to Starbucks with her friends 5 times that week spending $4 a day for Coffee, a total of $20 for the week. She decided to go to Starbucks with her friends three times the next week, and invites her friends to share coffee at her house two days a week, and puts the $8 she saved into her Piggy Bank to start her $1000 Emergency Fund. In a months' time Gabby realizes she will save $32 and in 6 months she will save $192 towards her $1000 Emergency Nest Egg Fund.

Gabby continues looking at her receipts and realizes she bought 3 packs of cigarettes a week at $5.50 a package, $16.50 a week. Gabby says, "I spent $66 a month on cigarettes. If I cut down my smoking to a pack a week I can put $11 into my "Piggy Bank" for my Emergency Fund each week and in a month's time I will have saved a total of $44 in my "Piggy Bank" toward my $1000 Emergency Nest Egg Fund. In 6 months I will have saved $264 toward my $1000 Emergency Nest Egg Fund."

Gabby says, "If I continue to go through my receipts and eliminate the items I don't need or cut down other expenses I will have my Emergency Fund in place in less than 6 months. By cutting back on Cigarettes and coffee I've already saved $76 this month. I will go through my receipts and look at what else I can eliminate or cut down on. My goal is to have my Emergency Fund in place in 6 months. I am determined to do it!"

Jay has saved all his receipts for one week and totaled all his receipts. He looks at his first set of receipts and realizes he has 5 days of lunches at $8 a lunch for five days and he's spent $40 on lunches this week. He says, "If I bring a bag lunch to work three days a week, I can save $24 to put in my "Tin Can" to start my $1000 Emergency Nest Egg Fund. In a month's time I will have saved $96." Jay then goes to his computer receipts and realizes he's spend $45 a week on his computer for his PayPal accounts, Groupon offers, credit cards, game accounts and his iTunes account. He says, "Do I really need these accounts, are they going to help me get my Emergency Fund up and running? These purchases are bleeding away my hard earned money. I'm going to close these accounts. That way I can put $180 a month into my "Tin Can" to save for my $1000 Emergency Fund. I will go through my receipts and look at what else I can eliminate or cut down on. My goal is to have my Emergency Fund in place in 6 months. I know I can do it!"

So, what are the three steps for you to save for your $1000 Emergency just like Jay and Gabby?

Track your spending for one week. Keep all your receipts and expenses for the week, writing them down in a note book, and at the end of the week add them together to get your total expenses for the week. Include every purchase you make even small purchases for sodas, snacks, lunches, dinners, breakfasts, groceries, going to the movies, purchasing snacks, gas for your car, cigarettes, and any other items you purchased that week. Also list your weekly spending for pay pal accounts, group on offers, credit cards, game accounts and iTunes accounts on your computer.

2. Evaluate each of your receipts, just like Gabby and Jay did, and decide if it is a needed expense or not and start putting your saved money into your Emergency Fund "Piggy Bank or Tin Bank".

3) Look at your computer receipts like Jay did and decide if your weekly pay pal accounts, group on offers, credit cards, game accounts, and iTunes accounts on your computer can be eliminated or cut back. 

Jay turned off his pay pal account, his Groupon offers, his game accounts, his iTunes account and stopped spending his credit card money on things he didn't need. 

Jay said, "These purchases are bleeding away my hard-earned money."

By following these three steps and being determined and disciplined to do it, you will be like Gabby and Jay, able to set up your $1000 Emergency Fund.

You can also save on gas for your car each week by being aware of which gas station has a special day for saving 5cents for each gallon you purchase. In our City it's every Thursday. What day is it in your City or town? Every penny you save can go into your $1000 Emergency Nest Egg Fund. The sooner you start the sooner you will have your $1000 Emergency Fund in place.

This article is the second of four articles on teaching you, to take hold of your finances.

If you need a speaker contact Madeline at: mfrankviola@gmail.com

Madeline Frank, Ph.D., DTM is an Amazon.com Best Selling Author, speaker, business owner, teacher, John Maxwell Team Member, conductor, and concert artist. She helps businesses and organizations “Tune Up their Business”. Her observations show you the blue prints necessary to improve and keep your business successful. Her latest book “Leadership On A Shoestring Budget” is available everywhere books are sold. If you need a speaker contact Madeline at: mfrankviola@gmail.com

PENNIES TODAY EQUALS PROSPERITY TOMORROW by Madeline Frank, Ph.D.

Developing the discipline of saving and investing is paying yourself first.

My friend Stewart taught his teenage daughter to save 40 cents out of each $1 she earned, beginning with her first job. She continued to do this through high school, college, and with her jobs as an adult. She now is the proud owner of two condos. Learn to save your money for your future car, house, condo, or other necessity and teach your family and friends to do this too.

My Momma, Romayne Leader Frank, taught me in high school to make a budget of my expenses, to keep a ledger of the money going into the bank and the money to be paid out for expenses. She also taught me to put my entire pay check in the bank, to pay all my bills, and to take out only the necessary amount for food and spending money. The remaining money went into my savings account. As a college student, I always had a job to help me pay my tuition, my apartment rent, utilities, and food.

 So, start today to save your pennies and begin your prosperity for tomorrow.

This article is the first of four articles on teaching you, to take hold of your finances.

Madeline Frank, Ph.D., DTM is an Amazon.com Best Selling Author, speaker, business owner, teacher, John Maxwell Team Member, conductor, and concert artist. She helps businesses and organizations “Tune Up their Business”. Her observations show you the blue prints necessary to improve and keep your business successful. Her latest book “Leadership On A Shoestring Budget” is available everywhere books are sold. If you need a speaker contact Madeline at: mfrankviola@gmail.com

Communication Road Blocks You Can’t See On Your Own by Madeline Frank, Ph.D., DTM

Are there some elements preventing you from connecting and communicating with others? You have a great potential inside of you! How can you unlock it?

Are there are some elements preventing you from connecting and communicating with others? For example, having a thick southern accent does not help you in New York City to get your dream job in public relations. Or maybe having a Brooklyn accent in Alabama. Your accent is costing you!

What other things can distract people that you are trying to connect with? Moving like a panther can be distracting when you are trying to get your message across to close a sale! Use of verbal filler words um, ah, like, you know are also a deal killer and detract from connecting with people. Sometimes you don’t even realize what you are doing and people won’t tell you.

People don’t know what they do, until it is pointed out to them. My husband and I saw one of these communication distractions in a recent revival of Lerner and Loewe’s “My Fair Lady” in New York City. Eliza Doolittle speaks with a thick cockney accent selling flowers outside of Covent Garden. Professor Henry Higgins, an expert on improving accents, hears Eliza speak and compares her voice to a “bilious pigeon”. Eliza immediately imitates expertly, the sound of the pigeon. As he speaks in his clear speaking voice, Eliza realizes her thick cockney accent is not helping her sales. 

She listens when he says his address. She has saved her money and visits Higgins hoping to engage his services for speaking lessons. She’s decided she wants to invest in hiring Professor Higgins to make a better life for herself. Higgins sees a challenge and has a wager with Colonel Pickering, a linguist and agrees to assist Eliza to improve her speaking to help her get a better job.

The audience watches fascinated as Eliza Doolittle changes, step by step, as Professor Higgins mentors her. 

On reflection, Professor Higgins, pin pointed a few things that Eliza needed to modify to improve her speaking skills. He did not overwhelm her. Higgins observed her, offered critique, encouraged her to change specific things, had her practice them, and then he listened again.

Just as there may be little things you are doing wrong, a coach, can help you pin point a few things to modify to improve your performance.

Graduate concert at University: 

One of my students, Mandie, at the university was preparing for her graduation recital. She was practicing in the hall with her pianist, Jay. The pianist was covering up her beautiful playing on the violin. The balance between the instruments was not right! 

I immediately stopped the rehearsal! 

I went over to the piano, put the lid down, to soften the piano, and asked the pianist “very softly”, to play softer when the violinist was playing so as not to cover up the violinist’s beautiful phrasing. 

Then I worked with them showing them, how to reshape the musical phrases with a full controlled range of dynamics and accents.

As we worked together to paint a picture of the music with beautiful phrasing, the two musicians began listening and supporting each other and playing together as a team.

 After working with them for 30 minutes, I walked to the back of hall to listen and experience what the audience would hear from the two performing. It was an amazing transformation. The violinist and pianist were making beautiful music together, that their audience would enjoy! 

The key is to find a coach, or mentor who is an expert at the skill you want to excel at.

 Coaching others to improve their speeches: 

When I’m coaching a beginning speaker student to write out their first speech, they ask me, what do I do first?

I ask them: 

1) What is the purpose of your speech? What do you want your audience to do when they leave your speech? What is your “Call to Action?” 

2) What stories do you have to support this speech? 

Then I ask them to write out their stories and then write out a one-line point of the story. (Tell a story, make a point. Then tell another story and make another point.)

Every top performer, communicator, or professional understands finding a qualified coach or mentor helps them reach their goal faster.

Building the habits of improving your speaking and communication skills will improve your life professionally.

Madeline Frank, Ph.D., is a 2014 Certified World Class Speaking Coach. She has been coaching and mentoring business professionals to be champion speakers for over 7 years. She is an Amazon.com Best Selling Author, speaker, business owner, teacher, and concert artist. She helps businesses and organizations "Tune Up their Business". Her observations show you the blue prints necessary to improve and keep your business successful.  Her latest book "Leadership On A Shoestring Budget" is available everywhere books are sold.  

If you need a speaker or coach contact Madeline at: mfrankviola@gmail.com

How to Move Forward When You Are Burned Out by Madeline Frank, Ph.D., DTM

How many of you have felt burned out or in a rut?

Maybe you have started a project, a relationship, or something else, and you have lost your excitement for it!

I’m reminded of a story by Joseph P. Klock about “A group of refugees about to flee a war zone by hiking over some of the most rugged terrain in their country. As they were leaving, they were approached by a frail, old man and a sickly mother carrying an infant. The leaders of the group agreed to take them along with the understanding that the men would take turns carrying the baby, but that the mother and the old man would have to make it on their own.”

“Several days into the journey, the old man fell to the ground, too exhausted to continue and pleading to be left behind to die. Facing harsh reality, the leaders of the group reluctantly agreed and started on their way.”

“Suddenly, the young mother placed her baby in the old man's arms” as he lay prostrate on the ground. She said to him, “It is your turn to carry the baby!”

The young mother continued walking away with the other refugees. A few minutes later “she allowed herself to look back”.

“She saw the old man stumbling along the trail with the baby in his arms.”

The young mother gave the old man a purpose in life. She needed him to carry the baby. When the old man suddenly had a purpose in life, he became empowered with a burst of energy he did not know he had.  He was determined and motivated to bring the baby to safety. His purpose and goal were set.  He was needed and empowered to get the baby to safety!

Did you notice at the beginning of the story the young mother was described as “sickly”? 

The journey fleeing from the war zone to bring her baby to safety and bring the old man to safety gave her a purpose, and the energy and strength she needed to move forward! The sickly mother was transformed to one filled with strength, energy, and purpose. She was filled with hope! 

People are social creatures. They do not go through life alone. Every living thing needs to feel wanted, needed, and loved. Everyone needs hope and purpose!

So, what does this mean for you?

How do you continue forward to get out of your rut?

1)   Go help someone else. It won’t come natural to you. Just do it!

2)   Feed the homeless, go to a local shelter and lend a hand. Do something for someone less fortunate who needs help. It’s time to shake up your world.  

Helping other people we care about is crucial to moving us away from our rut!

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Madeline Frank, Ph.D., DTM is an Amazon.com Best Selling Author, speaker, business owner, teacher, John Maxwell Team Member, conductor, and concert artist. She helps businesses and organizations “Tune Up their Business”. Her observations show you the blue prints necessary to improve and keep your business successful. Her latest book “Leadership On A Shoestring Budget” is available everywhere books are sold. If you need a speaker contact Madeline at: mfrankviola@gmail.com

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Great Leaders Just Do A Little Bit More by Madeline Frank, Ph.D., DTM

What do great leaders care about? What is important to them? What do they have in common?

John C. Maxwell says, “Leaders come into any situation, no matter how down it may be, and they have the ability to help people see the light at the end of the tunnel. Leaders see the problem as an opportunity.”

Great leaders often emerge from the ashes of great turmoil and desperation. The greatest leaders understand that they are not the solution, but they are a catalyst to help people envision prosperity and take action toward pursuing their goals. 

Prime Minister Winston Churchill was elected to the position of Prime Minister during the darkest days of World War II when all signs pointed to inevitable defeat by the Nazis. 

His speeches inspired hope, pride, and the motivation to fight for their country! 

Before speaking at the House of Commons and giving his most famous speech, Churchill walked among his people, rode on the subways with them, and asked them what they thought of their country and what they wanted him to do to protect it! 

 “Never, never, never, never give up —in nothing, great or small, large or petty—never give in, except to convictions of honor and good sense. ... Never yield to the apparently overwhelming might of the enemy”. 

Churchill inspired and motivated his nation to act with these words! They were the fuel that the citizenry needed to achieve a victory. 

Prime Minister Margaret Thatcher in 1979 became the new leader of Great Britain. Her country was bankrupt, had rising unemployment, rioting in the streets, rising inflation, and crippling labor strikes. 

Thatcher understood that government was not the solution to the problems her country was currently facing, run-away government power was the problem. 

She immediately worked with her team of like-minded experts, to privatize all nationalized industries such as utilities, aerospace firms and the National Freight Company. These enterprises were sold at favorable terms to promote private enterprise and reduce government power, promoting the rights of individuals who would pay mortgages on their new properties. 

Public housing was sold to its tenants at discounts to promote home ownership of individuals who would be property owners paying a mortgage on their new properties.

Great Britain prosperity was crippled by labor unions with their intimidation and strikes. Prime Minister Thatcher stood firm against these unions by bringing the coal industries and the steel industries under proper balance. 

She was a problem solver putting her “faith in freedom, free markets, limited government, and a strong national defense”.  She was a servant leader, inspiring, encouraging, motivating, and giving hope to Great Britain. 

President Ronald Reagan, the Great Communicator was a servant leader. He valued and connected with people wanting the best for them. In President Reagan’s State of the Union speeches, he told the stories of everyday people who would be sitting in the gallery by his family. As he told their stories he would ask them to stand up.

Michael Deaver was deputy chief of staff for Ronald Reagan for 30 years. Deaver said, "Ronald Reagan was one of the shyest men I'd ever met." Deaver was asked, "Why Reagan had such rapport with the press corps?"  He replied, "Well, Reagan basically liked people, whether they were part of the press corps or whether they were just ordinary people. That comes through."

Reagan cared about people regardless of their occupation or position in life. Deaver said, "Everyone liked being around Ronald Reagan because he loved people and connected with them. He understood that relationships were the glue that held his team members together- the more solid the relationship, the more cohesive his team."

Dan Quiggle said, "Ronald Reagan spoke plainly and genuinely to the American people- from his heart and with genuine sincerity about what he believed was best for America and for the world."

Ronald Reagan understood that connecting with others was the first step toward being able to lead. He asked questions and listened attentively; wanting to find out answers and common ground with the people they connected to. 

At Walt Disney World® Resort, Lee Cockerell was the leader at the helm for over 10 years. He was a servant leader. He says, “everyone is important. Make your people your brand.” Show them appreciation, recognition, and give them encouragement. He also says, “Give people a purpose, not just a job. To become a better leader, infuse quality, character, courage, enthusiasm, and integrity into your workplace and into your lives.”

So, what can you do today?

1)  Value people every chance you get. Show them appreciation and respect, no matter if they are the janitors in the building or are your teammates. Everyone matters and is important to you.

2)  Listen more. No one ever grows tired of talking about themselves. Show them you care about them and like them by listening carefully to their responses.

3)  Give people hope, inspiration, encouragement, and motivation to do a good job for your company. Give people purpose and empowerment.

One quote I like to live by is from Art Linkletter who said, “Do a little more than you are paid to, give a little more than you have to, try a little harder than you want to, aim a little higher than you think possible, and give a lot of thanks to God for health, family, and friends.”

What one thing will you do starting today to step up your leadership just “a little bit more”?

Madeline Frank, Ph.D., DTM is an Amazon.com Best Selling Author, speaker, business owner, teacher, John Maxwell Team Member, conductor, and concert artist. She helps businesses and organizations “Tune Up their Business”. Her observations show you the blue prints necessary to improve and keep your business successful. Her latest book “Leadership On A Shoestring Budget” is available everywhere books are sold. If you need a speaker contact Madeline at: mfrankviola@gmail.com