How well do you receive money?

By: Liz Wolfe

I recently read a moving and insightful book called 365 Thank Yous: The Year a Simple Act of Daily Gratitude Changed My Life by John Kralik.  It’s a true story of a man who completely turned his life around when he decided to write a thank you note every day for one year.  This memoir is an example of how powerful gratitude can be.

The story that I remember most from the book, though, was one that Kralik tells in the beginning.  He describes how as a young boy his grandfather gave him a silver dollar, telling him that if he received a thank you note, he would send another one.  As long as Kralik sent him a thank you note, the silver dollars would keep coming.  In this way, his grandfather taught him a life lesson in etiquette, while simultaneously illustrating how gratitude generates more abundance.

As the story goes, Kralik did indeed send his grandfather a thank you note, and true to his grandfather’s word, a shiny new silver dollar came back to him in the mail.  Once again he wrote a thank you note, and in return another silver dollar.  By the third silver dollar, however, Kralik had lost enthusiasm for the exchange, and did not send another thank you note, and thus the flow of silver dollars stopped. 

My husband and I don’t give an allowance to our children, so one day my son Julian came to me asking if he could earn some money.  “Sure,” I told him, and he presented a list of activities and how much each was worth.  Getting out of bed when called in the morning and getting dressed was worth 25 cents.  Making a bottle of seltzer was worth 10 cents.  Doing a complete load of laundry, including folding and putting it away was worth $1, etc.

For two weeks, Julian enthusiastically completed tasks, and as he did I dropped quarters in to a cup for him.  I noticed, however, that I was the one reminding him that if he did certain things he would get the money, and I soon tired of that game.  One day I said to him, “When you complete a task, you let me know, and I’ll put the money in the cup.”  I figured if he really wanted the money, he would tell me, plus, I wanted him to be the one taking the initiative.

For a while, Julian accumulated a fair amount of money in his cup, and got to spend some of it.  However, once I told him that he was responsible for letting me know he had earned money, the rate at which he earned it dropped significantly.  In fact, for the past month, he hasn’t asked me for money at all.  He still makes seltzer, he still gets out of bed and gets dressed in the morning, and does a host of other items that we decided on -- but he doesn’t collect on them.

The similarity between these two stories is that in both cases, had the child simply taken the initiative to do the prescribed activity as directed, they would have received more money easily and abundantly.  It caused me to think about how often I “leave money on the table.”  For instance, I have a check for $100 sitting on my desk right now that I just haven’t taken to the bank.  I’ve written in previous blogs about various gift certificates that end up buried in piles on my desk.  I even occasionally delay in submitting invoices for work I’ve done.  People actively owe me money, but I don’t collect on it, just like Julian and his chore money.

If inadequate cash flow is a frequent theme in your life, take a look at how well you are RECEIVING the money that is already out there in the universe waiting to come your way.  While there is a common belief that receiving is easy, many of us could use practice in this area.  Receiving is an action that requires conscious attention.  You can practice receiving by being gracious when people give things to you – compliments, gifts, a seat on the subway, and of course, money. 

I have a personal practice whereby any time anyone offers me money, I take it.  I want to tell the universe that I want money, and that I am ready to gratefully receive it.  That way, like the author’s grandfather, it will send me more.


Liz Wolfe cropped.jpg

Liz Wolfe is a skilled and energetic motivational speaker, coach and trainer. For more than 20 years she has inspired hundreds of people with her passionate stand of abundance: “There is plenty for everyone, including me.” As a coach for entrepreneurs, she empowers clients with her unique system: “A Clear Vision + Purposeful Action – Hidden Barriers = Breakthrough Results.” Lizwolfecoaching.com

Comment

Liz Wolfe

Liz Wolfe has lead trainings professionally for over 20 years. She is originally from Western Pennsylvania where she grew up on a sheep farm. She began her public speaking career as a child, doing spinning and weaving demos at local festivals with her family. In her formative years, she was money poor but resource rich. Her days on the farm supplied her with a wonderful foundation to learn about the abundance of the universe.

She came to New York City in 1987. Since then she has created a successful business with her husband, Jon, that focuses on helping companies and individuals realize their full potential.

Money Talks - Get in on the Conversation

By: Liz Wolfe

A hot topic these days is why the “1%” have accumulated so much wealth.  Perhaps you’ve seen the video that went viral demonstrating, with impressive graphics and mind-boggling statistics the chasm between the nation’s wealthiest and the bottom 20 percent.

So how did 1% do so well?  Is it because they greedily and purposely hoard wealth to keep it away from the rest of us?  Are people poor because they are lazy or financially irresponsible, especially when on public assistance?  Does the government unfairly favor the rich and big business?

Here’s my question:  who cares?

How much money they have has nothing to do with how much money you have.  There is an unlimited amount of money available to all of us, and the key is not figuring out why they have more than you do, but rather why you don’t have as much as you want. 

Here are some common ideas about money that keep us from creating as much as we want:

#1 –Money is a “thing” or a fixed entity

Money is energy.  Dollar bills and coins are merely symbols of the life energy we exchange and use as a result of the service we provide to the universe and to each other.  Thinking of money as an object restricts our ability to create it freely.  By learning to acknowledge it as energy, you will have unlimited access to it.

#2 –There is a limited supply; if wealthy people have too much, it takes away from my supply.

Back to reason #1.  There can be no limit because money is not a fixed entity.  There is an unlimited supply.  How much someone else has does not affect how much you have now, or will have in the future.  Ever!

People from the poorest and most difficult backgrounds — Steve Jobs and J.K Rowling are two — have found great fiscal success.   The top 1% didn’t stop them.

#3 –Money is directly related to personal worth.

People have the mistaken notion that you have to "deserve" money.  Wealthy people, the argument goes, shouldn't have so much, because no one "deserves" that kind of money. Who came up with this idea of “deserving” anyway?  To say “all that I deserve” puts a limit on it.  How do you know if you deserve it? Who decides if you deserve it?

Money is neutral.  It doesn’t care if you deserve it or not.  You have as much money as you have created up until now. End of story.

#4 – It is more noble to be poor than rich, and rich people are selfish.

Stories often portray the rich as unfeeling and stingy, and the poor as benevolent and generous.  While true that the working class gives more to charity proportionate to their income than wealthy people, it’s not true that all rich people are selfish.    

#5 – You have to have money to make money. 

Since money is energy, it can be created from nothing.  Don’t believe me?  Try this.  Just ask someone for money,   someone that you know will give it to you. You ask, they give, and you have it.  There!  Created from nothing!

#6 – Money is good – wait, no, it’s bad...

We’re told “Money makes the world go round” yet “money is the root of all evil.”  “Money can’t buy happiness”, but we’re convinced that we’d be happier if we had more of it.  No wonder money seems so perplexing.  We’ve received mixed messages about money that are confusing and incorrect!

#7 – We are not skilled at receiving money. 

Actually, we’re usually not skilled at receiving in general, but money in particular presents challenges for people.  It stems back to reason #3 (we don’t think we deserve it) and reason #4 (if we accept it we’re not good people.) 

I have a personal policy – whenever anyone ever offers me money, I take it.  I want the universe to know that I am open to receiving money at any time.  So, I always say yes!

It’s all about perspective

The makers of the video I mentioned before despair at the chasm between the top 1% and the bottom 20%.   However, if we took the bottom 20% of the US demographic and compared just that portion to the demographics of most "developing" nations, it would likely fall in, if not the top 1% then at least the top 10 or 20% of a graph of all those nations.

Think of it this way.  First, put yourself somewhere on this scale:

Affluent

Prosperous

Managing

Struggling

Impoverished

Destitute

Most "middle class" people put themselves somewhere around “managing” or “struggling”. Now, think about the photo of that child that UNICEF sends out when soliciting donations – the one that hasn't eaten for a month and has a distended stomach and two parents with AIDS. Now, compare yourself and your situation to that child, and place yourself on the scale. Compared to that child, you're affluent.

Back to my original point.  How much the 1% has, while certainly unbalanced, is irrelevant to how much money I have the OPPORTUNITY to create.  For that, we’re all on equal footing.


Liz Wolfe cropped.jpg

Liz Wolfe is a skilled and energetic motivational speaker, coach and trainer. For more than 20 years she has inspired hundreds of people with her passionate stand of abundance: “There is plenty for everyone, including me.” As a coach for entrepreneurs, she empowers clients with her unique system: “A Clear Vision + Purposeful Action – Hidden Barriers = Breakthrough Results.” Lizwolfecoaching.com

Comment

Liz Wolfe

Liz Wolfe has lead trainings professionally for over 20 years. She is originally from Western Pennsylvania where she grew up on a sheep farm. She began her public speaking career as a child, doing spinning and weaving demos at local festivals with her family. In her formative years, she was money poor but resource rich. Her days on the farm supplied her with a wonderful foundation to learn about the abundance of the universe.

She came to New York City in 1987. Since then she has created a successful business with her husband, Jon, that focuses on helping companies and individuals realize their full potential.

What Is Your Money Personality?

by Stacy Francis, CFP®, CDFA

Personalities are as different as snowflakes. And our personalities around money are no exception. Deborah Price, money coach and author, suggests there are eight money personalities that people fall into.

By understanding your own personal mythology and the history behind your current money type, Deborah believes you will become conscious of patterns and behavior that are preventing you from having the life you desire.

Read below to learn to understand how your money personality was formed and what you can do to change it.

The Innocent The Innocent takes the ostrich approach to money matters. Innocents often live in denial, burying their heads in the sand so they won't have to see what is going on around them.

The Victim Victims are prone to living in the past and blaming their financial woes on external factors. Victims generally have a litany of excuses for why they are not more successful, and they are all based on their historical mythology.

The Warrior The Warrior sets out to conquer the money world and is generally seen as successful in the business and financial worlds. Although Warriors will listen to advisors, they make their own decisions and rely on their own instincts and resources to guide them.

The Martyr Martyrs are so busy taking care of others' needs that they often neglect their own. Financially speaking, Martyrs generally do more for others than they do for themselves.

The Fool A gambler by nature, the Fool is always looking for a windfall of money by taking financial shortcuts. Until the Fool becomes enlightened she will continue to attract money easily, only to have it quickly slip through her fingers because she’s simply not paying attention.

Creator/Artist Creator/Artists often find living in the material world difficult and frequently have a conflicted love/hate relationship with money. Their negative beliefs about materialism only create a block to the very key to the freedom they so desire.

The Tyrant Tyrants use money to control people, events, and circumstances. The Tyrant hoards money, using it to manipulate and control others. Although Tyrants may have everything they need or desire, they never feel complete, comfortable, or at peace.

The Magician The Magician is the ideal money type. Using a new and ever-changing set of dynamics both in the material world and in the world of the Spirit, Magicians know how to transform and manifest their own financial reality.

Any of these sound familiar?

Read more about the games we play with our money and our "types" of relationship with money in Money Magic: Unleashing Your True Potential for Prosperity and Fulfillment by Deborah Price.

Stacy Francis is president and CEO of Francis Financial, Inc., a fee-only wealth management practice dedicated to investment advisory services for women, couples and those experiencing divorce. She is also the founder of Savvy Ladies®, a nonprofit organization that educates and empowers women to take control of their finances.

1 Comment

Stacy Francis, CFP®, CDFA

Stacy Francis is the Founder, CEO and President of Francis Financial, Inc., a Wealth Management and Financial Planning firm. With over 18 years of experience in the financial industry, she is a CERTIFIED FINANCIAL PLANNER™ (CFP®), a Certified Divorce Financial Analyst™ (CDFA™), and a Certified Estate Planning Specialist (CES™). She is the Co-Director of the Association of Divorce Financial Planners’ (ADFP) Greater New York Metro Chapter and a member of the Women Presidents’ Organization (WPO) and an honoree member of the Private Risk Management Association (PRMA). A nationally recognized financial expert, Stacy has appeared on ABC News, CNBC, CNN, PBS Nightly Business Report, The Today Show, Good Morning America, Fine Living Network, and The O’Reilly Factor. Stacy attended the New York University Center for Finance, Law and Taxation.

March Is Women's History Month - Share Your Story

This year's theme for Women's History Month is "Weaving the Stories of Women’s Lives." In the coming months, Savvy Ladies would like to highlight your story. We’ve all had victories and defeats in our financial lives – sharing your wisdom from personal experience is a way to help support and encourage others in the Savvy Ladies community.

Please share your personal experiences, “aha!” moments and lessons learned by either leaving a comment below or sending your story directly to me at lisa@savvyladies.org

lisa-64px
 

Lisa Ernst Executive Director

 

10 Secrets to Masterful Business Networking

by Alison BW Pena

1) Ask your best clients, colleagues and friends the most effective place(s) they network for business. Allow them to introduce you into their community. That simple action already increases your Know, Like and Trust factor.

2) Pay to network. That said, most paid networking groups allow prospective members to attend 1-2 meetings FREE before they decide or have a non-member price for events. Check them out before you commit.

3) Do your Google research on the group and event. Then go forth and network.

  • Meetup.com, eventbrite.com, BNI, Chambers of Commerce, search online for your audience (i.e., business networking, women’s networking...)

  • Who is on the membership roster? Would you like to know them?

  • What is the topic of the activity and does it sound fun or interesting?

  • When do events happen – mornings, 9-5 pm M-F or weekends? Ideally, you want networking to be at a time when you are at your best.

  • Does your target audience go to these events?

  • Do professionals who serve your target market attend the network?

4) Schedule 1-2 networking events each week and go. Networking is a muscle that atrophies when it is not flexed. You don’t have to be perfect. You can’t say the wrong thing to the right person or the right thing to the wrong person.

5) With each conversation, you hone your capacity to open and deepen your connections with people. You get clearer about what aspects of your work are most important to them. That shapes what you say next to them or a person like them. That can guide your marketing copy.

6) A person is not only their profession or business. Asking about family, hobbies, restaurant or travel recommendations is not a technique. The more common touches you have with the person you are talking to, the more likely they are to become a client or refer you to one, partnership or friend.

7) Don’t try to meet everyone in the room. I aim to truly connect with 3 people at every event. Anything more is a bonus. If you notice there are more than 3 people you are eager to get to know, that is a group you might consider joining.

8) Get to know the connectors (especially if you are an introvert). You will notice people who easily make organic connections for themselves and others. They exist is EVERY group and are what I call circles of influence. Their ripple effect is HUGE!

9) If you go to a networking group or event, connect with 3 promising-looking people and that network does not resonate with you, it’s OK to leave.

10) Your time is valuable. Think of networking as a kind of play or dance. What’s the next move? Network consistently and you will find YOUR best practices for connecting as you discover people and networks you truly enjoy. Have fun!


Affluence is not a mindset. It’s not a destination. It’s not a fixed dollar amount. And it’s certainly not just for rich people. In fact, affluence is more like a secret code. Which means that whoever you are, wherever you live, whatever the numbers in your bank account, you have options. You can choose lack, scarcity, and “not enough.” Or you can choose affluence.

Alison believes that true affluence is having the time, money, freedom and aliveness you desire. She helps entrepreneurs, business owners, professionals shift into bounty, wealth, purpose and new possibility.

Money Talks. Are You Listening?

by Liz Wolfe

A hot topic in the news these days is why the “1%” have such a disproportionately large amount of accumulated wealth in comparison to other 99%.  Perhaps you've seen the video that went viral (almost 7 million views to date) that demonstrates this with impressive graphics and mind-boggling statistics.

So why do the 1% have so much more than the rest of us? Is it because they greedily and purposefully hoard it to keep it away from the rest of us?  Is it because poor people are lazy or financially irresponsible, especially when on public assistance? Is it because the government unfairly favors the rich and big business?

Here’s my question. Who cares?

How much money they have has nothing to do with how much money you have. There is an unlimited amount of money available to all of us, and the key is not figuring out why they have more than you do, but rather why you don’t have as much as you want.

Here are some reasons we have trouble creating more money in our lives:

#1 – People think money is a “thing” or a fixed entity

Money is energy. Dollars bills and coins are merely symbols of the life energy we exchange and use as a result of the service we provide to the universe and to each other. Thinking of money as an object restricts our ability to create it freely. By learning to acknowledge it as energy, you will have unlimited access to it.

#2 – People think there is a limited supply; that if wealthy people have too much, it takes away from my supply.

Back to reason #1. There can be no limit because money is not a fixed entity. There is an unlimited supply. How much someone else has does not affect how much you have now, or will have in the future.  Ever!

There are too many examples of people from the poorest and most difficult backgrounds, who found great fiscal success (like Jobs and Gates and Rowling) to give any credence to the notion that the top 1% could somehow keep me from earning as much money as I want.

#3 – People think that money is directly related to their own, personal worth.

People have the mistaken notion that you have to "deserve" money and therefore justify why wealthy people shouldn't have so much, because no one "deserves" that kind of money. Who came up with this idea of “deserving” anyway? To say “all that I deserve” puts a limit on it. How do you know if you deserve it? Who decides if you deserve it?

Money is neutral. It doesn’t care if you deserve it or not. You have as much money as you have created up until now. End of story.

#4 – We are told that it is more noble to be poor than rich, and that rich people are selfish.

The interesting thing about this is that you can probably do more good with money than without it. However, stories often portray the rich as unfeeling and stingy, and the poor as benevolent and generous.

#5 – People think that you have to have money to make money.

Since money is energy, it can be created from nothing. Don’t believe me? Try this. Just ask someone for money. (Someone that you know will give it to you.) You ask, they give, and you have it. There! Created from nothing!

I read a story once about a woman who did a seminar where they were instructed to go out in to the world and just ask people for money. They did not give any reason for wanting it, or tell people they were in a seminar, they just asked for it. When all the participants returned, they had collected thousands of dollars, which the organization then donated to a charity.

#6 – We receive mixed messages about money

We’re told “Money makes the world go round” yet “money is the root of all evil.” “Money can’t buy happiness”, but we’re convinced that we’d be happier if we had more of it. No wonder money seems so perplexing.

#7 – We are not skilled at receiving money.

Actually, we’re usually not skilled at receiving in general, but money in particular presents challenges for people. It stems back to reason #3 (we don’t think we deserve it) and reason #4 (if we accept it we’re not good people.)

I have a personal policy – whenever anyone ever offers me money, I take it. I want the universe to know that I am open to receiving money at any time.  So, I always say yes!

The makers of the video I mentioned before compare the bottom 20% of the US economic strata with the top 1% and despair at the vast chasm separating the two. However, if we took the bottom 20% of the US demographic and compared just that portion to the demographics of most "developing" nations, it would likely fall in, if not the top 1% then at least the top 10 or 20% of a graph of all those nations.

Think of it this way. First, put yourself somewhere on this scale:

Affluent

Prosperous

Managing

Struggling

Impoverished

Destitute

Most "middle class" people put themselves somewhere around “managing” or “struggling”. Now, think about the photo of that African child that Unicef sends out when soliciting donations - the one that hasn't eaten for a month and has a distended stomach and two parents with AIDS. Now, compare yourself and your situation to that child, and now place yourself on the scale. Compared to him, you're affluent.

Back to my original point. How much the 1% has, while certainly unbalanced, is irrelevant to how much money I have the OPPORTUNITY to create.  For that, we’re all on equal footing.

Liz Wolfe has lead trainings professionally for over 20 years. She is originally from Western Pennsylvania where she grew up on a sheep farm. She began her public speaking career as a child, doing spinning and weaving demos at local festivals with her family. In her formative years, she was money poor but resource rich. Her days on the farm supplied her with a wonderful foundation to learn about the abundance of the universe.

She came to New York City in 1987. Since then she has created a successful business with her husband, Jon, that focuses on helping companies and individuals realize their full potential. 

3 Comments

Liz Wolfe

Liz Wolfe has lead trainings professionally for over 20 years. She is originally from Western Pennsylvania where she grew up on a sheep farm. She began her public speaking career as a child, doing spinning and weaving demos at local festivals with her family. In her formative years, she was money poor but resource rich. Her days on the farm supplied her with a wonderful foundation to learn about the abundance of the universe.

She came to New York City in 1987. Since then she has created a successful business with her husband, Jon, that focuses on helping companies and individuals realize their full potential.

Gen X & Gen Y – Dialing Financial 911

by Manisha Thakor

Six Reasons Why Gen X & Gen Y Need Some Serious Financial TLC  

  • They’re scared: They’ve entered their adult years during a gut-wrenching economic and job market. With unemployment over 9.5%, they’ve seen their parents struggle. Over 7 out of 10 Americans are now living paycheck-to-paycheck.

  • They are making poor decisions: As a result of that fear they are not making the best long-term decisions for their futures. A recent ICI study shows only 34% of investors under age 35 are willing to take substantial risk with their retirement money – the exact time in their lives when they should take that risk.

  • Something as “simple” as a 20-year head start can give you 5x more money: Let’s take 2 people. Jane starts saving $5,000 a year at age 25 for her retirement every year until age 65 and gets an average return of 7%. Jane has a $1 million nest egg by retirement. Joe starts saving $5,000 a year at age 45 for retirement every year until age 65 and also gets an average return of 7%. Joe has $200,000 in his next egg. That 20-year head start gave Jane 5x more money. That’s why learning the basics of personal finance – how to budget, get out of debt, and save so you can get that retirement fund funded in the key early years is so vital.

  • Young adults consume information differently so there’s a delivery challenge when it comes to education: Studies shows that young adults want their financial education delivered in a 21st Century way. They want it web-based with robust, interactive tools. And unlike their “I’ll do it myself” parents, these emerging adults want help and guidance.

  • Nearly half of Gen Y has below average financial fluency: A study by The National Foundation for Credit Counseling showed that nearly half of this generation did not understand how to save and budget and that 45% of them have no savings!

  • The financial world is geometrically more complex: Part of the reason for the above statistic is due to the fact that financial literacy is not taught in schools as a core life skill. Young adults often rely on parents who were brought up in “financially simpler” times and aren’t equipped to help. They are also bombarded by so many more unrealistic media images about what “normal” lives are like.

So, what’s the solution?

If you or someone you love is a Gen X or Gen Y-er… encourage them to self-educate.  Here are some of my favorite personal finance sites – all of which I’ve either written for or read regularly myself:

What about you – any additional resources to recommend to Gen X & Gen Y?

[For more MoneyZen in your life, follow Manisha on Twitter at @ManishaThakor, on Facebook at /ManishaThakor, or visit MoneyZen.com.]

Comment

Manisha Thakor

From Manisha's linkedin profile page:

Manisha Thakor is the Director of Wealth Strategies for Women at Buckingham Strategic Wealth and The BAM Alliance. 

Manisha and her colleagues provide both evidence-based wealth advisory services for high-net-worth households and core asset management solutions for women and families nationwide with $80,000 or more in investible assets. 

An ardent financial literacy advocate for women, Manisha is the co-author of two critically acclaimed personal finance books: ON MY OWN TWO FEET: a modern girl’s guide to personal finance and GET FINANCIALLY NAKED: how to talk money with your honey. She is on Faculty at The Omega Institute and serves as a Financial Fellow at Wellesley College. Manisha is also a member of The Wall Street Journal’s Wealth Experts Panel, a member of the 2015 CNBC Financial Advisor’s Council, and wearing her financial educator’s hat serves as a part of TIAA-CREF’s Women’s Initiative. 

Manisha's financial advice has been featured in a wide range of national media outlets including CNN, PBS, NPR, The Today Show, Rachel Ray, The New York Times, The Boston Globe, The LA Times, Real Simple, Women’s Day, Glamour, Essence, and MORE magazine.

Prior to joining the Buckingham team, Manisha spent over twenty years working in financial services. On the institutional side she worked as an analyst, portfolio manager and client relations executive at SG Warburg, Atalanta/Sosnoff Capital, Fayez Sarofim & Co., and Sands Capital Management. After this she moved to the retail side and ran her own independent registered investment advisory firm, MoneyZen Wealth Management. 

Manisha earned her MBA from Harvard Business School in 1997, her BA from Wellesley College in 1992 and is a CFA charterholder. She lives in Portland, OR where she delights in the amazing Third Wave coffee scene and stunning natural beauty of the Pacific NorthWest. Manisha’s website is MoneyZen.com.

5 Ways To Eat Out For Less

by Manisha Thakor

Tough economic times present an interesting financial conundrum for our tum-tums.

During rocky periods it’s natural and healthy to want to seek out friends and companionship.  Breaking bread and having a good chat is a wonderful way to release work/life stress. But given our busy lives many of us end up spending time with others while eating out… which can really add up.  So here are 5 simple things you can do to eat out for less.

1.    Share an entree or make a meal out of appetizers: In modern America food portions have become so super-sized that the average meal can feed at least 2… and sometimes even 3 people.  To avoid any surprises when the check comes, be sure to see if the restaurant charges a split entree fee. On a related note, some appetizers are so large they could easily fill you up as an entree and they generally cost half as much as a main dish.

2.    Be sure to ask how much the specials cost before ordering: This a major hot button of mine.  How many times have you found yourself in a restaurant when the wait staff describes a succulent sounding dish?  You go for it, only to find yourself fighting the urge to hurl when you see the bill and find out the price.  Personally, I think it’s a sign of financial self-confidence to politely ask “and what do those specials run?” so you can make an informed decision. It can be awkward to do it at first – but trust me, the whole table will appreciate it, and you’ll be a trendsetter.

3.    Soup, it does a body good: A nice bowl of hearty soup (think gumbo, beef stew, tortilla soup, or chili) often costs a lot less, contains healthier ingredients, and fills you up as much as a regular entree.

4.    Think before you drink: Beverages – alcoholic and even non – are very high margin products for restaurants.  At a minimum, think twice before doubling down.  If you can, savor one drink throughout the meal.  And if you’re really trying to cut back, go to nature’s best… a glass of tap water.  Doing this can easily shave 20% or 30% off your bill (not to mention pounds off your waist line!).

5.    Do lunch: If you have a really strong urge to meet friends at a fancy new restaurant, try doing it at lunchtime instead.  Prices are much lower, portions are more realistic, and you’re less likely to run up a costly alcohol bill.

What about you – any other suggestions you’d add to this list?

 


Want more financial love? You can follow Manisha on Twitter at @ManishaThakor or on Facebook at /MThakor. Manisha Thakor, personal finance expert for women, can be reached via her website, MoneyZen.com.

Comment

Manisha Thakor

From Manisha's linkedin profile page:

Manisha Thakor is the Director of Wealth Strategies for Women at Buckingham Strategic Wealth and The BAM Alliance. 

Manisha and her colleagues provide both evidence-based wealth advisory services for high-net-worth households and core asset management solutions for women and families nationwide with $80,000 or more in investible assets. 

An ardent financial literacy advocate for women, Manisha is the co-author of two critically acclaimed personal finance books: ON MY OWN TWO FEET: a modern girl’s guide to personal finance and GET FINANCIALLY NAKED: how to talk money with your honey. She is on Faculty at The Omega Institute and serves as a Financial Fellow at Wellesley College. Manisha is also a member of The Wall Street Journal’s Wealth Experts Panel, a member of the 2015 CNBC Financial Advisor’s Council, and wearing her financial educator’s hat serves as a part of TIAA-CREF’s Women’s Initiative. 

Manisha's financial advice has been featured in a wide range of national media outlets including CNN, PBS, NPR, The Today Show, Rachel Ray, The New York Times, The Boston Globe, The LA Times, Real Simple, Women’s Day, Glamour, Essence, and MORE magazine.

Prior to joining the Buckingham team, Manisha spent over twenty years working in financial services. On the institutional side she worked as an analyst, portfolio manager and client relations executive at SG Warburg, Atalanta/Sosnoff Capital, Fayez Sarofim & Co., and Sands Capital Management. After this she moved to the retail side and ran her own independent registered investment advisory firm, MoneyZen Wealth Management. 

Manisha earned her MBA from Harvard Business School in 1997, her BA from Wellesley College in 1992 and is a CFA charterholder. She lives in Portland, OR where she delights in the amazing Third Wave coffee scene and stunning natural beauty of the Pacific NorthWest. Manisha’s website is MoneyZen.com.