Indie Business Blog

Borrowing Dumb Oh Dumb

A few days ago, I caught a recent segment of ABC's Good Morning America. Host Robin Roberts (one of my favorites) interviewed GMA's financial contributor, the president of Ariel Investments, Mellody Hobson. Mellody was sharing her "Borrowing 101" tips.

          

After confirming that credit is hard to come by these days, Mellody offered "solutions" to the dilemma, including that you should consider asking a friend to co-sign for a loan if you can't get a loan on your own. Huh?

Top Ten Tips For Teaching Children About Money

One of the best things about being Indie is teaching children about money from an entrepreneurial perspective. I love showing my kids the connection between our business and our ability to care of our current and future needs as a family.

          

This past Monday, along with some of my fellow Mocha Moms, I was called upon by award winning journalist Michel Martin, host of NPR's Tell Me More, to share some of my best tips for teaching children about money. You can listen to the show audio here.

When it comes to money, we have to be vigilant and steadfast in teaching our children. We must arm them with a money mindset that helps them avoid ending up on the short end of the next economic meltdown. It's important for everyone, but especially for those of us who are not relying on a traditional job to secure our well being. To that end, I offer my tips for teaching children about money.

What's Your Hustle?

Recession Notwithstanding, Not Everyone Is in a Panic

Years ago, I dated a guy with an unstable job history. When I expressed my concern, he replied, "Don't worry, I'll always have a hustle." I was mortified. To me, "hustle" was a word used to describe pimping and illegal gaming activities. Today, that guy is an officer in the military, but he's not stopping there. He also owns a successful entertainment company. He has a career and a "hustle," and you need one too.

         

Today's New York Times contains an article quoting a Goldman Sachs economist: "The labor market is clearly deteriorating, and it's likely to keep deteriorating." Goldman Sachs forecasts that the unemployment rate will continue to rise, peaking at nearly 7% in 2009. That's 7% of Americans without a traditional job.

Oh, yeah, you need a hustle.

Your Money Mindset: Is it Making or Breaking Your Small Business?

A Frugal Mindset Is Money In the Bank

For Indies, financial success is about stretching every penny to cover as much as possible, both on the home front and the business front. Frugal principles are not complicated, but because they intersect with our emotional connection to money, they can be difficult to implement.

          

Growing up, my parents taught me very little about money. In my years as a corporate attorney, money flowed freely from my employer's account to mine, and then on to fabulous vacations, expensive dinners out, trendy clothes and extravagant gifts. Until I became a small business owner, I was never really concerned with the fact that, at some point, money actually runs out.

How to Cut Your Grocery Budget In Half

Save Big, and Have More Left To Grow Your Business

According to money coach Alvin D. Hall, families can save the most money by cutting the family grocery budget. I agree, and joined Alvin and Michel Martin, host of Tell Me More on National Public Radio, to share my best tips on how you can save money on your grocery bill.

          

While you're listening to the show, print out "Donna Maria's Top 10 Tips for Using Coupons," which they posted at the site under the show link. Carry it with you so you are constantly reminded to save as much as you can. As always, special thanks to Real Coupon Queen for teaching me how to save money using coupons!

The less we spend on groceries, the more we have to pay ourselves first, and put the rest back into our businesses!

For more money saving tips, subscribe to my blog feed. And check out these other money saving posts:

Five Ways to Recession-Proof Your Business
Financial Contentment: You Can Achieve It!
How to Pursue Profit
Ask Not What the Economy Can Do For You
The Best Credit Card
Video: Saving Thousands With My Coupon Organizer

Five Ways To Recession-Proof Your Business

Go Back To Basics In Tough Economic Times

Even if we are not officially in a recession, the rising cost of everything means that people are more closely watching their spending these days.

         

As a small business owner, this means it's more important than ever that you double up efforts to make your business as recession-proof as possible. Here are 5 ways to do it.

Financial Contentment: You Can Achieve It!

3 Steps To Financial Contentment Through Entrepreneurship

Today's USA Today reports that people are cutting down on everything from gourmet coffee to designer jeans in order to save money during these challenging economic times. But these days, it takes more than cheap coffee and jeans to build a comfortable nest egg.

          

It takes good old entrepreneurship. And the more I work with Indie Business owners from all walks of life, the more persuaded I am that there are specific things entrepreneurs must do to maximize the chances of achieving the financial contentment that comes with using our God-given talents and gifts to generate income in our a business of our own. Here are 3 of them.

How To Pursue Profit

It's Not All About The Cash

Today, the Washington Post reports that home foreclosures are moving forward at a record pace. I can understand people's pain and frustration. What I can't understand is why anyone is at all surprised.

          

This mortgage crisis was completely foreseeable. The consequences of greed always are. The lenders showed horrendous greed by specifically designing lending products to entice people with shaky credit to buy more house than they could afford. The buyers showed how greedy they were by exchanging long term pain and heartache for short term gain. How predictable that it was all too good to be true.

Top 10 Reasons To Buy Indie

Buying Indie Is Money Well Spent

I am the founder and president of the Indie Beauty Network so it will come as no surprise that I think my members make the best products in the world. Whether you want candles, sugar scrubs, perfumes, essential oils, lotions, body oils, hair care products or mineral makeup, you can find it all at the Indie Beauty Network.

          

Sure, you can buy your personal care products from the local Big Box store, but before you do, consider these Top 10 Reasons To Buy Indie.

Making A Giving

Smart Philanthropy For Indie Business Owners

As Indies, we like the idea of aligning our business with charitable causes that help those in need. As people, we enjoy helping others. As business owners, we enjoy the tax deduction.

          

But how can we be sure that our donations really get to those who need them, and are not lining the pockets of those who run the organization? Today, ABC News reported on the issue, and so will I at Indie Business Radio, where I'll be joined by guest Indie co-host Lela Barker of Bella Lucce and Maggie Keenan, owner and principal of givingadvice.

Join us at 1:00pm EST on Indie Business Radio.com to discover how to choose a complementary charitable cause for your business, and how to avoid being scammed.