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This week I am reading an interesting book called “The Power of your subconscious mind” by Joseph Murphy, PH.D.D.D.

Although I have read tons of books on the power of prosperity this one sums up how to attract wealth very well and it states the following: “True source of wealth” your subconscious mind is never short of ideas. There are within it an infinite number of ideas ready to flow into your conscious mind and appear as cash in your pocketbook in countless ways. This process will continue to go on in your mind regardless of whether the stock market goes up or down, or whether the pound sterling or dollar drops in value. Your wealth is never truly dependent on bonds, stocks, or money in the bank; these are really only symbols necessary and useful, of course, but only symbols. The point being is that if you convince your subconscious mind that wealth is yours, and that it is always circulating in your life, you will always and inevitably have it, regardless of the form it takes.”

Here is a daily exercise: three times a day for five minutes each time say to yourself the words, wealth-success, and finally once before going to sleep. Most people would use this affirmation “I am wealthy” however this doesn’t work because your subconscious mind knows and feels you are lying. By just saying the words wealth-success has incredible powers, it represent the inner power of the subconscious mind.

Now this may sound silly or very simple but just try it for 40 days and experience for your self what happens.

Let us know what happens!

We know that the messages we say to ourselves, our inner critic, are so important. We are all deserving — not entitled — deserving. It all starts with loving and honouring yourself and who you are. The more you feel worthy, the more that you will receive.

Do this exercise and start to feel it.

All of our best,

Sandra & Maritza

I met with this man yesterday who comes from a financial background. He started his own company that is very successful and is in many countries around the world.

We began to talk about Women & Finances and he was very interested on my views and what I am doing with workshops and the site, collaborating with Maritza and so on.

WOMEN HAVE THE POWER – I do not know the exact percentage however I can safely say that women represent nearly, if not 50% of the potential investors in Canada. What does that mean? It means that some women today are independently wealthy and in some cases may be the “bread winner” and out earn her husband.

I read an article that women, if not already, are the larger group of the two that have money to invest. Most women due to their lack of awareness, fear and so on, do not invest for themselves and “hold onto money” for they do not know which investments to go into.

It really comes down to empowering ourselves and learning to take back the power: Ask as many questions as you need to until you understand, be accountable and responsible for your actions, and just get to know what is in your financial closet so that it is serving you in your best interest. Whether you are male or female, you need to determine your spending habits. Are you spending more that you earn?

I feel what is really intriguing the corporate world is that women need to step into their role as a financial person. It truly is about baby steps. Some of the financial institutions recognize that building a solid relationship with their women clients is so valuable to how women respond. Women are all about the relationship whereas a man usually wants to know about ROI.

The Corporate world is listening so speak your truth and be true to who you are!

Maritza and I are there to support and guide.

All our best,

Sandra

Here is my message to all women- we represent almost one half of the population here is Canada. We have the financial “clout”. This issue is that most women hand it away by not taking accountability and responsibility for their role in their own finances. It is much easier to blame your brokers, insurance people, financial institution. To be frank THE ONUS IS ON YOU to ask the questions and get the answers fully answered to your liking.

Then take all of this info and make it your own!

SPEAK UP AND OUT!

All my best,

Sandra

This question came to Maritza while reading an article by Suze Orman. We have been dealing with debt and for this question period we wanted to focus on rebuilding your credit. It is truly my belief that you can change your financial position in a very short period of time. It is about taking baby steps — it may take some time.

Question: How can we rebuild our credit after it has been damaged by unpaid debts or we had to go through a bankruptcy? The answer, according to a recent article written by Suze Orman, is to get a prepaid credit card. Instead of going to a bank, she recommends going to a credit union and apply for a secured credit card.

For those that do not know what a secured credit card is, here is a more detailed definition:

A “secured credit card” is a credit card used to build a good credit record for people with a damaged or poor credit score or for people with little or no credit history. A secured credit card requires a security deposit in order to be able to establish a line of credit. Typically, the line of credit you qualify for will be equal to the amount of money deposited with the bank or financial institution that issued the secured card.

For example, you can open a $500 secured card line by depositing $500 in an account associated with the credit card. Many secured cards charge fees for opening the account, and then charge fees for accessing your funds. In some situations, a prepaid debit card with a credit builder option may be a less expensive way to build credit.

Secured credit cards are also referred to as “prepaid credit cards“.

To find out more go to credit unions to search for one in your area. Request that the credit issuer will report your payments to at least one of the credit bureaus – Two well known ones in Canada are Trans Union or Equifax.

I recently asked for my credit rating from Trans Union – this is free — I wanted to know how I stood in the “eyes of my creditors”. I received it and now I want to run through it with someone. I saw a lot of 0s which I believe is good. I too need to find out!

AS FOR THE CLOSET… once you have dumped everything out of your closet and decided what you are going to keep then you can begin to rebuild. It will take some time. Decide how much you will put into this endeavour of rebuilding. Once you know your budget and how much you can spend – you will know how much you will budget for new items. You must be committed to sticking with this number. Like the prepaid credit card, you will only be able to spend that $ figure that you have committed to.

One day you will look at your closet and say – how did I do this? I have a full closet and I know where everything is and I feel good about this.

Take the baby steps to rebuilding your credit history!

All our best,

Sandra & Maritza

I wanted to share this story for some, if not many, will relate. When I heard this story it confirmed for me the need to create a financial empowerment workshop. It’s ALL ABOUT YOU and we want to break things down to the simple so you can make really good decisions for you and your family.

My best friend was at dinner with another group of friends to celebrate a few birthdays. She was having a conversation with this woman friend, 32 or 33 years old, who has recently been separated (in the last year or so). It was fascinating to her that this woman shared that she had to bring in an accountant to show her everything from A to Z to do with her finances. She left everything to her ex-husband – EVERYTHING. She did not know anything about mortgages, her accounts, paying bills. I mean she knew nothing.

As my best friend relayed the story to me she looked at me and said, this woman is the perfect candidate to come to your workshop.

For many there is some awareness of their finances, however there are a lot of women who really have no clue.

Taking back your power is really a choice. Let us be part of this and empower you on your journey of financial awareness.

We also want to tell you that the 2bempowered site will be changing it’s look to incorporate additions – make it user friendly.

Please send us your questions and we will address them.

All of our best,

Sandra & Maritza

Time To Consolidate

For months now, Sandra and I have been discussing how to organize your finances by likening it to “your closet”. Our intention has been to break things down to the simple so you understand certain financial terms, how to read statements, and so on, so that you can make sound financial decisions in your best interest. We know that by taking back your power you are no longer threatened by this or at least less threatened.

It does take baby steps and for some this process of looking in the closet can seem overwhelming. So we want to break this process into even smaller steps by choosing topics and providing tools and suggestions that we hope will guide you to a better financial position. It is said that the journey begins with one small step under your feet. (I really paraphrased that!)

Let’s take the first step together. This week we want to focus on your Larger Debt: Credit Cards, Mortgage, and Entertainment AND then learn how To Take Your Bills And See Where You Can Consolidate Them.

1. Credit Card Debt – We have talked about this before. You can call you credit card company and see if they will lower their rate. Otherwise you can check to see what other cards there are. Make sure you look at the fine print of switching. The larger question is how are you using this card? This is something that you want to use only for what you can pay off at the end of the month. By consolidating you will be able to pay this down. Credit card used wisely can help you build a credit rating.

2. Mortgage Loans & other Loans – In the US the housing market was really affected last year during the “mortgage and loans crisis”. Everyone is at fault here – banks loaned to people that really were not in a position to carry a loan, people borrowed thinking that their property value will keep going up and will always be worth more than the loan itself and/or that they are making such good money only to lose their jobs.

I suggest you call up your mortgage company and talk to your representative on how they can lower your monthly payments. I personally did this and I lowered my monthly mortgage by half! Otherwise put together a plan when you consolidate that will move you on a path to becoming deb-free!

3. Entertainment Expenses – this is one of the hardest ones to track for there is so much “just spending without thinking” that is done.
Where can you cut down your spending? If you are like me and Sandra and love to socialize, start by going to less expensive restaurants to eat, or higher end yet less frequent. You can invite some of your friends over for a nice home cooked meal. Rather than eating lunch out every day for $5-10/day, bring lunch 2-3 times per week. Also, rather than stopping at Starbuck’s for a morning coffee, drink one at home and try and cut down to 2-3 times per week. These are habits that seem hard to break. You will find two things, first is that you are saving money by nature of cutting back, and second you can substitute some of these choices with more healthy ones, for instances, drinking more water, taking a walk at lunch with a friend/colleague rather than going out for lunch. You will enjoy the conversation and you will also be incorporating some exercise- good for your body and mind!

A suggestion is that the next time you want to buy something, stop take three deep breaths, think about it and ask yourself is this going to support my financial decision to be more savvy? Instead of your finance controlling you, you control your finances. As always we love to here from you.

Check and see what government programs exist.

The greatest awareness is KNOWING THAT IT CAN ALL CHANGE WITHIN 6 MONTHS OR A YEAR! It begins with you taking accountability and responsibility and then make that choice. We are here to support you along the path.

All our best,

Maritza and Sandra

Sandra and I wanted to kick-start 2010 by first asking you to take a look and see what you learned last year and decide what still is missing. Maybe some things regarding your finances will remain the same while other areas need improvement. We suggest you review again some of our past articles and ask us lots of questions so we can better assist you. Let’s take the “closet approach” which Sandra and I have adopted and start getting rid of old patterns that are not working for you. Here are some questions that can assist you with discovering what to do next.

1. What do I really want?

2. Do I really understand my finances i.e banking, interest rate, late fees, mortgage loans, insurance, financial statements? If you are still having some difficulties please review our past article or please send us your questions we are here to support and empower you.

3. What is my relationship to money? Do I honor it or not? What are my beliefs around money? These are very important questions.

4. How do I take control of my finances? For example, I want to be responsible for my outcome but whom can I trust?

5. What type of resources are missing, in order for me take control of my finances?

6. What is my emotional state of being right now? For some of us we are an emotional spender. If we are serious about our finances and being abundant we must understand “why” we spend the way we do. How can we break this cycle?

By answering these questions you will begin to understand more clearly where you are at financially – FIRST TEAR APART THE CLOSET, KNOW WHAT’S IN THERE, DECIDE WHAT YOU WANT TO KEEP AND WHAT YOU WANT TO DISCARD/GIVEAWAY (donations??) AND THEN YOU ARE IN A MORE EMPOWERED AND AWARE STATE TO MAKE SOUND FINANCIAL DECISIONS.

Both Maritza and I have done this over the last year to give us a more clear idea of where our finances are at so that we can make sound financial decisions for each of us, and our respective families.

It’s baby steps … You Can Do It.

All our best,

Maritza and Sandra

2010 IS A TIME FOR ACCOUNTABILITY AND RESPONSIBILITY – TRUTH For so many years you have passed on the responsibility of your finances to others — this way you can “blame” others, the market, or whomever crosses your path for not bringing you to the place you want to be financially.

I am determined to shake you up and empower you to take back your power – to at least, in the minimum know where you stand, where your money is and in the most become an active part of this process.

We will continue the format – articles one time per month and questions asked and answered the other time per month. You will see something new every two weeks.

I am looking forward to creating workshops for women regarding financial empowerment. I want to reduce the fear around your finances. I believe it starts with building a trusting and wonderful relationship with you.

Thank you for letting me and Maritza into your lives. We love hearing from you — your questions and feedback.

Happy New Year. 2010 is going to be a great year – abundance in all areas.

The next article is about setting intentions: be clear. This will include being responsible for your choices and actions.

Enjoy your two weeks, until then….

All our best,

Sandra & Maritza

Suze Orman article
I am so behind in my magazine reading that I was reading the O Magazine from Thanksgiving. In there was the Suze Orman section. A woman was asking her for assistance regarding finances.

In the article this woman says that she has given her life savings to her close friend and she heard that her friend recently lost her job and she was concerned that the friend may “dip” into the money and she did not know how to ask her friend for the money back without insulting her.

I CAN TELL YOU SUZE ORMAN WAS NOT SO KIND IN HER RESPONSE!!!

Suze Orman told this woman to WAKE UP AND TAKE BACK YOUR POWER AND TAKE FULL RESPONSIBILITY FOR YOUR FINANCIAL WELL BEING. She asked the woman why she will hand away her entire life savings, putting it in the hands of a “stranger”; Does this woman not know what is best for herself – more so than her friend??

It was interesting. Now, I will not yell at you (like my financial advisor did to me), however I will tell you, encourage you, to take back your power and be fully responsible for your financial outcome. You can do this and it is important to be aware of where your money is going and how it is being invested, are you living beyond your means, are you creating debt, good debt, how is your credit and so on.

Maritza and I want to reduce the fear around finances and let you know that so much of what you do on a daily basis is no different then how you will take care of your finances. We have likened your finances to your closet for we know that a woman takes pride in her closet (ok sometimes it gets messy in there) and takes time to know where everything is placed – where she can find it. Sometimes it means reorganizing the closet, getting rid of things and then adding things.

We look forward to empowering you to find your way along your path of financial awareness and knowing in 2010.

We want to wish you an abundant 2010! May all of your dreams come true. First, you must take accountability and responsibility for your choices.

All our best,

Sandra and Maritza

LOOKING TO EXPAND THIS ….
When I started this part of the blog I felt really strong that women need to take more accountability and responsibility in their life for their finances.

I have had the opportunity to talk to financial planners and they are looking to reach out to women. I have talked to them about creating the relationship first. It is my firm belief that in order to reduce the fear around this area, women need to understand that in so many ways they are already making the “financial” decisions – food shopping, organizing, taking care of the house and so on.

I am determined to shift the paradigm in women’s minds and open them up to this. We will continue to answer your questions so that you can make sound financial decisions or at least start you on your way to more awareness.

I am conducting a focus group/workshop with a group of women and I will give you their feedback as well as my own.

On behalf of Maritza and myself we want to wish all the families celebrating this holiday a safe and wonderful one. We also want to wish you a very happy and healthy, peaceful and abundant New Year.

2010 is a great year – make it a great abundant, financial one!

It begins with a choice to make a change and see your whole world begin to shift. I have taken my finances from a place I wasn’t too happy to a much better place for me and my family. I am grateful and know this will continue.

I am open to abundance and receiving. The more I receive the more I give!

All our best,

Sandra & Maritza

Maritza shares her personal financial “ups” and “downs” and how letting go of WORRY has moved her to fulfill her passion:

Do I worry about my Finances??
I will answer that question by giving you my story. The first quarter of 2007 (Jan. – March) was an outstanding year for me and my husband. We were doing excellent with our investments: As a partner with a commodity hedge firm on Wall street I earned good money and my husband and I opened up our own restaurant, serving unique authentic food and style. We owned a couple of rental buildings as well as a couple of prime real estate land in the Dominican Republic. We made another big and excellent investment — we invested in two amazing breath-taking condos by the water facing NYC and the Statue of Liberty. It was great!

Until….
A couple of months after the market crashed!! What happened next was very interesting.

In business, we lost our major investments due to the market crash in the hedge firm therefore substantial amount of my cash flow dropped. The restaurant sales went down about 35-40%. The phenomenal investment of the two condos were no longer a great deal and became a financial nightmare. We actually ended up losing 50% of our down payment on the combined condo investment of $2.3 million. Our family saving was slowly decreasing. My husband and I no longer were generating a strong income to run our finances.

Worry?

NO. I had just finished reading a book called Psychogenesis: Everything Begins in Mind by Jack Addington a few months prior to our own finance crash. Thank God I did for it was really helpful. The main point I got from this outstanding book was don’t worry, all worrying does is hurt you in and outside. Worrying does not speed up the process nor will it support what you are worrying about and make it stop. So why focus on that instead focus on what you want and the solution. My husband and I did just that. Today I am happy pursing my vision to open my own company Quasar OMw which focusses on Empowering Women. My husband is still doing what he loves, real-estate. Is our current cash flow situation the same? No, however we are happy living our passion and we both believe in abundance. To me the key lesson in all of this is Don’t Give Up! Learn, grow and remember that we can choose to change things — be of service and you will succeed.

Our beliefs have shifted, we let go of worry and our financial life is moving in a healthy direction.

—

WORRY AND GUILT ARE WASTED EMOTIONS… I decided many years ago to let these emotions go. It takes time and practice and if you can catch yourself and remind yourself then you will do it more often and readily.

As life is about choices we do have the choice to be in the moment. We’ve talked a lot about your closet and like your closet — when you stand in the middle of it and look around you make your decisions in the here and now what you will wear — not tomorrow rather right now. And that outfit you wore yesterday that you may worry didn’t look so great — guess what, yesterday is finished, done.

Be in the now when it comes to ALL of your decisions. With your finances, you may have been a worrier, or come from lack (I am always in debt, how am I going to pay for this or whatever) — that was yesterday or even your last thought and THIS thougth can be about gratitude for what you do have. As you shift your beliefs, feelings and thinking, you shift your outcome. Start now!

All our love,

Maritza and Sandra

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