The Darling CEO

Money, Business, and Life Tips for the Working Mom

The Ultimate Gift List for Remote Workers

The Ultimate Gift List for Remote Workers

With the Covid-19 pandemic, more people than ever are working from home. Check out this ultimate gift list for remote workers to find the perfect gift for that special remote worker in your life!

These items are sure to bring a little joy and comfort to the home workspace.

Disclosure: As an Amazon affiliate, we earn a commission made from qualifying purchases. 

Desktop Space Heater/Fan 

Who can argue that it’s important to be comfortable? This little beauty helps you heat up or cool down at your desk, without being an absolute eyesore.

Echo Dot 

An Echo Dot is a must-have for remote workers.  This little gadget can serve as a radio, alarm, timer, phone, thesaurus, calculator, and so much more.   I use my office Echo Dot on a daily basis.  I listen to my daily news (that I curate on the Alexa app), listen to music, and even use it for a Pomodoro timer. I’m such a big fan of Echo devices, I have one in every single room of my house!

 

Yeti Rambler

Admittedly, using a Yeti made me feel a little bougie at first. However, once I used one, I can’t go back. First of all, they legitimately work. They will keep your beverage of choice warm or cold for such a long amount of time.  Way longer than any other cup I have used in the past. But my favorite part of the Yeti? No condensation.  No more water rings to deal with or wipe away.   Plus, they are super durable, easy to clean, and last a long time!

 

Foot Massager and Warmer

Everyone deserves a little luxury in their lives.  This cool little gadget is sure to deliver. It not only massages your feet, but it also warms them up! Perfect to keep under the desk on those chilly work from home days.

 

Noise-Canceling Headphones

One drawback to working from home is all of the potential distractions that present themselves. Noise-canceling headphones have made me so much more productive during remote work, especially with two little ones running around.  When I really need to crank some workout, I put my headphones on and listen put on my Spotify.  These particular headphones are high-quality, super affordable, and have over 50,000 reviews on Amazon!

 

Daily Planner

Working remote requires careful planning to ensure that you get everything done and that you are not overworking yourself.  I  love that this planner not only includes the typical spaces for to-do’s and times to remember, but it also includes reminders for meals, gratitude, and exercise. It’s easy to get caught up in work and end up working for 12-13 hours straight without taking care of yourself. It’s critical that you are planning mindfulness, exercise, and healthy eating into your day so a good planner is a must for any gift list for remote workers.

Desktop Planter Bulb


While it is tempting to have fake plants due to not having to keep another living object, well… alive, live plants have many benefits. Studies have shown that live plants can help increase productivity, satisfaction, and even creativity.  This is a beautiful and low-maintenance way to reap some of those benefits at home.

 

Under Desk Bicycle

A lot of remote workers find that they don’t get the same amount of exercise at home as they do when they are in the office.  It’s important that you are getting exercise in when you can. This under the desk bike helps you stay moving and get some exercise in while you are working away at your computer.   It’s also small so you can easily tuck it away when you are not using it.

 

Personal Fridge 


When I am working from home, I  tend to have to hide from my family. Otherwise, they ask me a million questions and I  end up preparing snacks for three hours. When I  bunker down in my workspace, I  need to be prepared. This adorable personal fridge allows you to keep your food and drink cold without having to sneak into the kitchen.  This model holds up to 6 cans so it is a little on the smaller side, but there are similar models that hold more.

 

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How to Prepare Your Finances for a Recession

How to Prepare Your Finances for a Recession

 

 

Steps to Prepare Your Finances

Get the Full Picture

The very first step that you will want to take to prepare your finances for a recession is to get an accurate picture of where you stand today.  Many people have no idea how much you are actually worth (or in debt). To make a solid financial plan, it is imperative that you start with the truth.

To start, get a piece of paper and calculate your net worth.

On one side of the paper, list all of your assets.  Include any bank accounts, 401k accounts, other retirement accounts, value of vehicles or other equipment, value of your home, and any other asset that you own.

On the other side of the paper detail any debt that you have.  This should include your mortgage balance,  vehicle loan balance, credit card debt,  money owed to friends or family, etc.

Now you will want to subtract your debts from your assets to calculate your net worth.   If it is positive, that means that you own more than you owe.   If it is negative, that means that you owe more than you own.    It’s important to understand this figure as it gives you a good gauge of your overall financial health.

In addition to calculating your net worth, you will want to identify any liquid assets.  A liquid asset is cash or something that you can easily convert into cash.  Your liquidity is essentially the amount of cash that you have available to pay bills and expenses.   In a recession, having liquid assets is good because it means in the event that you lose your job, you will be able to cover your bills relatively easily.

Develop a Budget

The next step in recession-proofing your finances is developing a budget.  A budget serves many purposes. For one, it gives you a very clear view of your finances.   Have you ever wondered where your money goes every month? With a budget, you will know exactly where every dollar goes.   A budget also helps you determine how much you will need in your emergency fund.  

As soon as you sense a recession, it’s time to start a budget. There are millions of budgeting tools out there that you can use. My advice is to keep it as simple as possible.  A blank sheet of paper works just as well as a fancy piece of software for most people.

In a nutshell, you will want to list your income and subtract your expenses.   If the remaining number is positive, that is good news and means that you have money remaining each month to pay down debt or put into savings. If the remaining number is negative, this means that you are spending more than you are earning.  You are likely relying on credit card debt or eating into your savings which is not good for your financial health.   If you are you in this situation, you will want to assess your expenses and look for opportunities to save money and spend less.

Figure Out Your Emergency Fund

After you develop a budget,  you can now figure out how much should be in your emergency fund.   An emergency fund is just like it sounds, it’s a savings fund that can be used for emergencies such as loss of a job, hospital bills, or anything where you would need to pay a large sum of money out.   An emergency fund is the most important step to surviving a recession and securing financial well-being.

Most experts suggest that you keep at least 6 months of expenses in your emergency fund. This will help you weather a loss of income until you can get back on your feet.   To figure out the amount you will need, simply take the number of your total expenses (your total expenses from the budget you created in the step above) and multiplying that by 6.

For example, if your total monthly expenses equal $2,000 then you should have $12,000 in your emergency fund ($2,000 x 6).

Fund Your Emergency Fund

If you are like most Americans, you may not have the required amount in your emergency fund just yet. If you don’t have that much saved already, it’s time to start saving.  The amount required for your emergency fund may seem daunting, but it is possible, even if you are living paycheck to paycheck.

First, go back to your budget and figure out where you can cut some expenses to start saving more money.   Become very frugal if you fear that a recession is coming on. Limit your eating out,  use coupons to cut your grocery bill, and find free or low-cost entertainment. Look for any opportunity to start saving money and plow that money into your savings account instead.

You should also look to increase your earnings in order to save for your emergency fund.   Picking up a side hustle or working extra hours at work can help you put extra money directly into your saving account.

With the gig-economy in full force, it has never been easier to earn extra money. If you need side hustle inspiration, check out the $100 Startup or 100 Side Hustles both by Chris Guillebeau.   He provides such practical and easy strategies to increase your income quickly and effectively.

Another great way to fund your emergency fund is to sell your unused things. You likely have something laying around that you don’t use anymore that could bring in some cash.  Old designer purses, unused technology, old toys, and clothes are all great ways to bring in some cash. Sell these items on sites like Craigslist or LetGo to earn some money and clear out clutter.

Update Your Resume

Even if you love your job, it’s always important to have an updated resume.  You never know what life will throw your way (like a viral recession caused by a global pandemic).

Ensuring that you have an updated resume and updated LinkedIn profile can give you a head start in the event that you lose your job.

You should also look to keep connected to your external network.  Start casually connecting with old work friends,  comment on acquaintances LInkedIn post, anything that you can do to stay connected to people.

Hopefully, you won’t need to utilize your network or resume to seek out a new job but it’s never a bad thing to be ready.

Pay Off Debt

Another smart way to prepare your finances for a recession is to pay off as much debt as possible.  if you are in a good place with your emergency fund, take any extra cash and start paying down any debt.

I’m a big fan of Dave Ramsey’s Snowball method for paying off debt.  The snowball method is basically paying off your smallest debts first, regardless of interest rate.  This is especially smart if you have a lot of different debts. This method can help you free up cash by eliminating payments that are going out each month.

This method is also very motivating. Once you start paying off debt it gets you energized and encouraged to keep at it.  My husband and I  personally used this method and we.have paid off all of our debt including our mortgage in just 6 years. It was difficult, but it is possible.

One of the biggest things I  hear is “I don’t have the money to save”.  Well, that is the whole point. You will never have the money to save if you don’t change something. You have to make small changes and nothing should be more motivating to make these changes than the risk of an economic recession.

Your future self would be very grateful for any steps that you take today.

What are you biggest roadblocks when it comes to finances?   Have you taken any steps to prepare your finances for a recession?

 

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Must Read Personal Finance Books for Women

Must Read Personal Finance Books for Women

Disclaimer:This post contains affiliate links. As an Amazon affiliate, we earn from qualifying purchases made through these links. 

Looking to check out some personal finance books?   Look no further.  These books are guaranteed to help you improve your personal finances.

The Total Money Makeover- Dave Ramsey

I  love Dave Ramsey. He offers such easy to understand and no non-sense practical advice.  This book will walk you through his “baby step” process to start building wealth.  My husband and I  have followed this plan and we are completely debt-free (including mortgage free) at 34 years old.   His plan works if you are wiling to follow it.

 

You Are a Badass at Making Money: Master the Mindset of Wealth by Jen Sincero 

I absolutely love all of Jen Sincero’s books. She tells you exactly what you need to hear in a straight forward and encouraging way. She is like your best friend that always gives it to you straight but is always in your corner.    This book does exactly that but with your finances. She tackles things like mindset, fears around money, and different ways to make money.

 

Rich Dad Poor Dad: What the Rich Teach Their Kids About Money – That the Poor and Middle Class Do Not! by Robert T. Kiyosaki

You may already recognize this book as it is one of the personal-finance classics.  The author tells of his experience learning money lessons from his father (who struggles with money) and his best friend’s wealthy dad.  He illustrates how wealth and poor pole think differently. It’s a must-read personal finance book for everyone.

 

The $100 Startup: Reinvent the Way You Make a Living, Do What You Love, and Create a New Future by Chris Guillebeau  

So many people think that the best way that you can become a millionaire is by saving money but the wealthy know the real key is increasing their income. Particularly, increasing the number of income streams that they have.  Starting a side hustle is a great way to earn more and diversify your income.

Chris Guillebeau makes this process so simple with the steps he lays out in the $100 startup.  He walks you through how to set up an extra income stream with less than $100 and minimal effort.

 

Smart Women Finish Rich, Expanded and Updated by David Bach 

You can’t have a list of top personal finance books for women with Smart Women Finish Rich. This book by David Bach is a New York Bestseller many times over.  This book has been helping women improve their finances for many years.  He provides simple and easy to follow directions to help create a personal finance plan. He teaches you basics concepts in a way that is easy to understand and provides practical steps that you can take right away.   It’s a must-read for any woman.

 

The 30-Day Money Cleanse: Take Control of Your Finances, Manage Your Spending, and De-Stress Your Money for Good by Ashley Fernstein Gerstley

This book is a must-read for anyone that wants to change their relationship with finances quickly. And this book is amazing at just that!  The author will help you identify obstacles and causes to you may be overspending and walks you through how to stop your bad money habits.   It’s a great jumpstart for anyone that wants to take some meaningful change towards improving their personal finances.

 

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January To-Do’s for Successful Working Moms

January To-Do’s for Successful Working Moms

Call me crazy but I love January. I love the feeling of renewal that comes from a brand new year. I am energized and motivated to take on the year.

Every January, I try to capitalize on this energy and motivation and knock off some tasks that help me start the year off right as a working mom.

Here are January to-do’s for successful working moms…

Declutter

We have a large family so our children get so much stuff for Christmas. To top that off, my daughters birthday is in January as well so even more stuff. Yay. During January, I try to get rid of as much stuff as possible. Old clothes, toys, magazines that have piled up, toys, old makeup, anything and everything that is not nailed down. Check out The Life Changing Method of Tidying Up by Marie Kondo. Kondo provides very practical tips on what and how to get rid of your clutter.

Deep Clean

You can either outsource this or do it yourself but one to-do that should be on every working moms life is to deep clean your home. Once you have decluttered it is the perfect time to clean. I’m talking clean that you never have a chance to get to like baseboards and washing walls. This will allow you to start the year off with a truly fresh and clean space. It will also take some away some of the mental load that can eat away at you.

Set a Budget and Savings Plan

If you are like me, you are experiencing a spending hangover in January. I am so sick of spending money by the end of December, I am just ready to get back to a budget and start saving again. Take advantage of this feeling and sit down and set a budget. Start by reviewing your spending for the last year. Where did your money go? Reflect on where you could have saved more and spent less. Now set your budget for the next year. Make sure that you are paying yourself first and setting aside money in your budget to save. Start the saving program as early in January as possible either through your employer (via a 401k) or your bank (IRA or a traditional savings account).

Set a Goal

Every year I set a personal development goal for myself. Motherhood can be so daunting. When you are working, raising children, taking care of a home, taking care of a marriage, etc. it leaves very little time for you. It can be easy for moms to feel like they have lost themselves. Each year I set a goal solely for myself. This gives me a reason to do something that I enjoy and gives me fulfillment and satisfaction as I march towards achieving it. A couple of goals that I have completed are reading 100 books in a year and learning Spanish. Find something that you enjoy doing and set a stretch goal for yourself. Make sure that you keep that promise to yourself and make a plan to achieve it. And remember, a happy mom/wife/employee is a good mom/wife/employee!

Organize Your Schedule

The end of the year is a free for all. There are so many demands on your time with the holidays, school events, and work deadlines. After all of that, now is the perfect time to reset and organize your schedule. Go through your calendar and block out time for everything that you need to get done. Make sure that you are carving out time for your goal and for just doing nothing. I make sure that at least one day out of each weekend we block out our calendar to do nothing. Those are my favorite days (and my kids) and would likely not happen if I wasn’t intentional on blocking out that time.

Now is also a great time to grab control of your work calendar. Go through each meeting that is on your calendar for the new year and make sure that it needs to be there. Meetings tend to stick around a lot longer than they are actually needed. Now would be a good time to trim the fat and get rid of non-essential meetings. You should also schedule time to actually do the work. I work in a corporate environment so I sit on conference calls all day. If I don’t block off time to actually do the work, I would be bringing that home with me today. Block an hour or two a day during your MOST productive time of day to do deep work.

What are your January To-Do’s for Successful Working Moms? What do you do in January that helps set up success for the remainder of the year? Leave a comment below!

 

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Start a Side Hustle in 7 Days

Start a Side Hustle in 5 Days!

Disclosure: This post contains affiliate links for which we earn a small commission on your purchase at no additional cost to you.

We know that having a side hustle is essential to financial security and building wealth. The more streams of income that you have, the more you are able to avoid financial setbacks and save money over time.    But how do we actually get started on our side hustle? Follow this simple plan to start a side hustle in just seven days.

Day One: Determine Your “Why”

Before you start a side hustle, sit down and think about your long term goal. What are you trying to cause in developing a side hustle. Being crystal clear on your purpose will help you get through the inevitable hard times of having a side hustle.

Day Two: Identify what you are passionate about or good at?

Ask yourself what do you like doing?   What do you get excited about?  What do people ask you questions about?   Making quick money is cool, but having something that you really enjoy doing is critical to ensuring the long term viability of your side hustle. If you do something that you hate doing, you will eventually burn out and end up resenting your side hustle.  You are better off finding something that you are pretty good at and really enjoy doing.

Day Three: Create a Plan

What value will you add and how will you do it?  Will you be providing in-person services or doing online consulting?   Will you use social media to get customers or will you advertise in your local paper? Put pen to paper and start mapping out your plan and strategy

Day Four: Test Your Concept

This is probably the most important step.  You need to validate and test your side hustle concept. The best way to do this is to test it out on a real life client. If you are offering a service, provide a free service in exchange for their feedback.   If you are selling something,  sell a few samples.  You can also perform some market research by asking friends, family, and prospective customers on social media.   Tell them as much as detail as you can about how you plan on offering your product/service and pricing and get their thoughts.   A little feedback early on can ensure you are on the right path and people would actually be interested in your product.

Day Five: Make a Plan

Now that you have validated your concept, it is time to start making a more detailed plan.

You will want to answer the following questions:

  • What products/services will you provide?
  • What will your pricing be?
  • How will you market your products/service?
  • What will  your startup costs be?
  • What is your projected income?
  • What challenges can you foresee?  How will you overcome these challenges?

 

Day Six: Set Up Your Side Hustle

Now that you have a plan it is time to get things ready.  This is the time when you should secure your social media accounts, domain and website, business cards and other marketing collateral, etc.   Try to bootstrap your side hustle as much as possible.  Spend as little money as possible and as you start making more money you can always invest in things that will help you expand your business.  Set a budget and stick to it!

Day Seven: Start!

At this point, you should be ready to get started.  Go out and start offering your product and service. Don’t worry about being perfect at this point because you won’t be.  You will learn and refine your skills as you go on.  And always remember, everyone started as a beginner!  You will get better and learn with each mistake that you make along your journey. Have grace with yourself and push forward.

There you have it, how to to start a side hustle in just seven days.   You are well on your way to the financial security and wealth potential that a side hustle provides!

Ready to start a side hustle? What part of the side hustle journey do you struggle with or have questions?  Leave a comment below!

 

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Want To Be a Millionaire? Start a Side Hustle

Do you want to be financially secure and ultimately wealthy?  You need to increase your streams of revenue and one of the easiest (and quickest!) ways to do that is to start a side-hustle. According to a study by Tom Corley, most self-made millionaires have generated their income from multiple sources.  Think about any wealthy person and you will likely see that they have money coming in a multitude of ways (e.g. business income, dividends, rental income, investments, side-hustles).

Why is having multiple-streams of income important?  Most importantly, it protects you in the event of a job loss.  If you lose your job for whatever reason (downsizing, illness, injury), having a side-hustle or supplemental source of income will allow you to ride out the waves and stay afloat.  Most financial setbacks occur because of a loss of income.  Having a side hustle provides you with some insurance against loss of income.

Secondly, having a side hustle allows you to earn extra cash that you can use to save and invest. The law of compound interest tells us that the earlier that we can save, the more we will earn.  Therefore, having a side hustle (ahem, now) allows you to take advantage of time. For example, starting at age 23, you need to put away just $14 per day to reach $1 million by age 67. Wait just seven years, age 30, and you have to increase that amount by 50%. Hold off until age 35 and you’ll have to save more than twice as much as at 23.  Investing a little bit as early as you adds up quickly!

Another way that having a side hustle can get you a ticket to millionaire status is that earnings from your side hustle can be used to create yet another source of income, such as rental property or other businesses.  For example, through your side-hustle as an online instructor you are able to save enough money to purchase a rental property.  Now you have income from your day job,  income from your side hustle, and a monthly income coming in from your rental property. You can then take the money from the rental property and invest in dividend paying stocks, thus creating a FOURTH stream of revenue.  You can go on and on reinvesting and creating additional stream of revenue which increases your wealth and creates additional financial security.

With technology and the gig economy, the barrier to entry is the lowest it has ever been. Anyone can create a side hustle to bring more money in.  It’s as easy as posting on your town’s Facebook page that you can rake leaves or shovel snow.  You can also take advantage of services like Shipt and Doordash.   Even a few hours a week can add up over time and create financial security for you and your family.

Do you have a side hustle?  How has having a side hustle improved your finances?   Leave a comment below.

 

Have a Debt-Free Christmas

Have a Debt-Free Christmas

Disclaimer: This post may contain affiliate links which means that if you purchase a product using a link I may receive a portion of the proceeds at no additional cost to you.

The holiday season can be disastrous for your finances and leave you with a giant debt hangover if you aren’t careful.   Americans racked up more than $1,000 in debt during the 2018 holiday season.  What is even worse, 28% of shoppers weren’t even done paying off debt from the prior year. They just keep piling on more and more debt. They haven’t yet learned how to have a debt-free Christmas.

The holidays are a time of celebrations and festivity, but that doesn’t mean that you need to ruin your finances. It is absolutely possible (and easier than you think) to have a debt-free Christmas and holiday season by following these simple and proven tips.

Tips on How to Have a Debt-Free Christmas

Save All Year Long

Technology makes it incredibly easy to save money for your holiday spending.  Most banks have a way that you can auto-save during the year (meaning that you automatically move money into a savings account).

You can also check out apps like Stash and Acorn which provide a way to micro-invest.   Micro-investing is saving money and investing a small amount of money at a time. Even if you save only $20 a week, you will have over $1,000 over the course of a year.  Every little bit that you save helps and will provide you with enough cash to have a debt-free Christmas.

Stick to a Budget

Creating and sticking to a holiday budget helps you avoid debt during the holiday season.   Sit down and write down every gift that you will need to buy and a budget for each gift.  Not only will this help you stay on track financially allow you to have a debt-free Christmas, but it will help take some stress off when you are actually doing the shopping. Knowing that you already have money set aside for a gift is empowering and takes some anxiety out of the shopping experience. It allows you to put your energy into finding the right gift, rather than how you are going to afford it.

When it comes to budgeting, don’t stop with gifts.  Spending around the holidays ramps up in other ways such as entertaining costs, travel costs (including gas!), and clothing expenses. Make sure to factor in these expenses when you are setting a budget as they tend to creep up but can be pretty significant.

Another tip when it comes to budgeting, make sure that you keep a record of how much you spent and reflect on it in January. This should be the starting point for how much you should aim to save for the next holiday season.  Take that amount you spent, make any adjustments, divide it by pay period and you have how much you need to set aside for next year.

Homemade Gifts

Some of my favorite gifts that I have ever received are homemade and personal. Instead of buying things for people, look for ways that you can make homemade gifts or gift experiences.  Not only will this save you money but it will be much more memorable for the recipient. Seriously, how many candles can one get?  Not very crafty? You don’t have to be, you can get a ton of inspiration from Pinterest and Instagram!

Use Reward Points

Another way to have a debt-free Christmas is to utilize those unused credit card rewards points that you have sitting around. One Christmas, I was able to knock off about half of my Christmas gifts by just using credit card points (that I didn’t even realize I had).  Credit card points and rewards can add up quickly so make sure to check out how much you have available.

Side Hustle

With the gig economy, it is incredibly easy to find ways to supplement your income or earn a little extra cash for the holidays in order to have a debt-free Christmas.   Become a Shipt driver or deliver for grub hub in the months leading up to the holidays. The beauty of these types of side hustles is that you can work them around your schedule. You can work for an hour of 12 hours, whichever works best for you!

Have a special skill or interest? You can also do some side jobs or provide some coaching to others in your field. Starting is as simple as posting on your local Facebook page.

An ancillary bonus is that not only do side hustles allow you to make extra money, but they also keep you busy so you actually spend less too.   It’s a win-win!

Unused Gift Cards

Everyone has old gift cards lying around. Maybe you only have a few dollars remaining on them or they are to stores that you don’t shop at.  Get them out of your junk drawer and put them to good use.  Sell unused gift cards on sites like Cardpool or Raise.  You can sell them for cash or for other gift cards that you can use for gifts.

Check your old purse, junk drawers, and your car glovebox. These add up very quickly!

Clear Out Clutter

Similarly, the holidays serve as a great time to clear out old stuff to make room for the new.  Hold a yard sale,  sell at a consignment shop, or use the Facebook marketplace to get rid of old items.   If you have kids, look for children’s resale shops like Once Upon a Child which gives you cash on the spot.   The sale of your old items can add up quickly and supply you with enough cash to avoid holiday debt. Plus, you get rid of things that are just taking up space!

Gift Exchanges

Another great way to cut down costs and have a debt-free Christmas is to look for ways to do gift exchanges instead of giving everyone a gift. For example,  instead of buying for all of your cousins, suggest a gift white elephant gift exchange and limit the price to $25.   This reduces your costs but can also be a ton of fun.  Our family does one and it is always fun to see what everyone bought and try to figure out who bought it.  You can also set themes around it to make it even more memorable and fun such as homemade gifts only, local sports, or cozy winter nights.   It’s the perfect way to reduce the amount of money you spend and the time that you spend shopping.

By following these steps, you will easily have a debt-free Christmas. One that you can enjoy guilt-free.

What are your tips to help you avoid holiday debt?    Leave a comment belOW

Need an emergency fund? Check out the reasons why you MUST have an emergency fund. 

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What I learned from Joanna Gaines…

What I learned from Joanna Gaines (well from her book)

 

I just got back from a wonderful vacation in beautiful Northern Michigan.  Despite chasing two lively toddlers around, I was able to read a book.  Yes, a real book. For enjoyment. Consider it a summer miracle.

 

I digress.

 

Before hitting the roads, I grabbed “The Magnolia Story” by Chip & Joanna Gaines with Mark Dagostino.  I got the book fully intending it to be just an easy read for the beach. Little did I know that Joanna would teach me some important business and life lessons…

Let Go

Joanna and Chip’s story taught me that you need to let go in order for life to work its wonders.   Joanna was conservative by nature but she let go when she met Chip and it made all the difference.   Caution is important but there is something to be said for just going for it.

The Road May Take Many Turns

Chip & Joanna’s entrepreneurial story took many different twists and turns.   Just because you do something now, doesn’t mean you are stuck with it and that you can’t start doing something else later.  Chip was a serial entrepreneur and all of these little business adventures helped him refine his skills and identify his true passions.   If you don’t know where you are going, just start. You are never going to get to your destination if you never board the train in the first place.

Make the Most of It

Joanna and Chip had numerous mishaps and obstacles throughout their journey.  No matter what life threw their way, they always seemed to make the most of it and actually end up a little bit better off than when they started.  For example, if it weren’t for Chip getting duped into buying a dilapidated houseboat, they would likely never have their show on HGTV. The same show that gives them the opportunity to impact and inspire millions of people across the world. I’m a huge believer that your attitude creates the outcome. You can choose to be the victim or you can choose to overcome. Chip & Joanna overcome.

Do What is Right for You & Your Family

It was so refreshing to see that Joanna struggled with the decision to close up her first shop and stay at home with her babies. That is a very personal decision and something that only you can decide for yourself.   The lesson is, do what feels right at the time.   If that means to stay in the workforce, stay. If that means stay at home, stay there. Ultimately, she heard a voice tell her that it was time to stay home and that is what she did.   And that is cool because that worked for her.  Do what works for you.

Be Kind to People

Chip & Joanna just seem like really awesome, really nice people.  There are stories scattered throughout the book of Chip & Joanna helping someone out in need whether it be giving a homeless man a place to sleep in the middle of the night or keeping a couple kids out of trouble by giving them some work for the night.   I wholeheartedly believe that if you put good out into the universe, you get it back tenfold.  Chip & Joanna are testaments to this.   They have had some incredible breaks in their lives.  If I were to guess, this was not by chance.

Seize Opportunity

Chip & Joanna never seemed to hesitate to seize a business opportunity whether it be opening up a retail store or buying their next house to flip. In business, the spoils go to those that take a chance and seize the opportunity. This is why I’m such a big believer in everyone having an emergency fund. This way, when life gives you an opportunity you have the means to take advantage.   There was a point in the book where they were $5,000 shy of a life-changing business venture, luckily, Joanna had been stashing some money aside and had exactly enough.  Without that little cushion, life could look very different for them.

Use Debt Carefully

Chip is a big fan of using debt to fund his business ventures. I agree that debt does have a place in business. If you are in business for any amount of time, there may come a time when you need to use it.  However, I caution you, use it carefully. Only use debt when you need it and never take out more than you can cover.  Always have a backup plan because the banks can call their line at any time and it may not have anything to do with you or anything you can control.  Chip & Joanna were heavily leveraged in order to fund the development of their dreams. The made their payments on time,   borrowed responsibly, all the things that they were supposed to do. Unfortunately, this was right at the height of the financial crisis. The government forced their bank to essentially cut their line of credit leaving Chip & Joanna on the brink of financial ruin.   The lesson is, debt is good but use caution when using it.

Work Hard

No question about it, Chip (and Joanna) has an awesome work ethic.  One of my favorite quotes from the book comes from Chip,  “Whenever I’ve been down financially, I’ve just picked myself up and worked a little harder. And whether it’s a little luck or God or a combination, everything seems to find a way of working itself out eventually.”  Good things come to those that work hard and stick with it.  As a parent, it is equally important to instill good work habits into your children.  We want to give our kids the world, but the best gift that you can give them is the ability to be humble, work hard for what they want, and be content if it doesn’t come right away. I think that Chip & Joanna are doing a great job of that.

Stop Cleaning the House

I picture Joanna’s home as Pinterest perfect at all time,   everything is tidy, everything has its place, everything is beautiful and in pristine condition. She is Joanna FREAKIN Gaines for Pete’s sake.   One of my favorite parts of the book is when Joanna came to a revelation that she couldn’t keep up with keeping a perfect household all the time.   Say what?!   Joanna’s kids spill cheerios and write on the walls too?!   I am not alone, I am not a failure of a mother and wife.  If she can let the housework go for a bit and spend some more time with the kids, the rest of us can.
I loved this book so much. It was entertaining and read like a story but it taught you so many meaningful life and business lessons. While I didn’t get to speak to them personally, I felt like it when reading their book.  I recommend it for literally everyone.  Check it out on Amazon!

Have you read The Magnolia Story?   If so, what are your thoughts?  What lessons did you learn?  I’d love to hear, drop a line below!
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What I Learned from Joanna Gaines. Business & Life Lessons from the "Magnolia Story". A book review by DarlingCEO

4 Ways to Quickly Start an Emergency Fund

4 Ways to Quickly Start an Emergency Fund, Even if You’re Broke!

In our last blog post, we talked about how important it is to have an emergency fund set aside for life’s little surprises.   Having an emergency fund affords you freedom and peace of mind, which are priceless. Now, let’s take a look at how you can quickly start an emergency fund, even if you are living paycheck to paycheck.

Calculate Your Savings Need

The goal is to have at least 6 months of expenses saved in your emergency fund.  Don’t know how much that is? Take a minute and figure it out.  Add all of your expenses (housing expenses + car expenses + utilities + gas + groceries + childcare+ any other required expenses) and times that by 6.   That number is your goal.   Write it down really big and circle it a few times (no really, write it down REALLY big and circle it).

 

Let’s look at an example: 
Rent: $1,000
Car Payment & Insurance: $350
Utilities: $100
Cell Phone: $100
Gas: $100
Groceries: $350
Total: $2,000

$2,000 * 6 months =  $12,000

You should have at least $12,000 in your emergency fund.

Now take a look at your current savings situation. Do you have enough liquid (cash or easily converted to cash) savings to cover that?  If so, kudos to you!    If not,  you are in the right place! Starting an emergency fund is not as hard as you think.

Open Your Emergency Fund 

Many of us have our savings accounts where we have our checking account. Horrible idea.  Humans are not very disciplined creatures (or at least I’m not). If you see it, nine times out of ten you will spend it.
For this reason, open your savings account at the most inconvenient bank in the world.  Find the bank that your grumpy neighbor works at and open it there (or where an equally repulsive person works). Make it absolutely tortuous for yourself to go there and make a withdrawal.  The goal is to put money in easily but never take money out.
You will want to open up a basic bare-bones savings accounts. Most banks have a minimum opening deposit which is typically around $25 so make sure to bring that with you.  Also, be prepared to pay a small monthly service fee until you are able to meet the minimum balance threshold.  No worries, you will be able to avoid that in no time!

4 Quick Ways to Fund your Emergency Fund

1. Pay Yourself First

The very first check that you write on payday should be to yourself. Before you pay anyone else, you should make a deposit into your savings account.
Before your paycheck drops,  figure out how much you can realistically set aside each pay period. Even if you can save just a few dollars each paycheck, it is better than nothing and gets you in the habit of saving.
A little bit adds up quickly. Never underestimate the power of getting into the habit of saving.

2. Cut One Unnecessary Expense

Another quick way to start saving is to cut one expense immediately. Almost all of us have areas where we can cut expenses.   It could be your daily Starbucks run,  sushi with the girls,  a streaming service that you no longer use, etc.
Find just ONE thing that you can eliminate and immediately divert that money into your savings account.  For example, say you cancel a subscription, put that money into your savings account asap.  Don’t think, just put it in your savings account.

3. No-Spend Month

I never said it was going to be pretty, but I do promise it will be worth it.  Another way that you can quickly start an emergency fund is to have a
no-spend month (if you really can’t commit to a month choose a lesser time period like a week two-weeks).
What is a no-spend month?  Essentially a no-spend month cuts out all unnecessary expenditures.  You can still spend money on necessities but you cut everything else out. Painful? Yes. Effective? Yes.
This is an awesome way to not only jump-start your savings but also to reset your mindset on spending.  You really learn the difference between a want and need during this time period.   All of the money that you save, put that into your emergency fund.

4. Start a Side Hustle

I am a huge believer that everyone should have more than one source of income. Having more than one source of income gives you disposable income to add to your savings.
There are a ton of resources out there to help you identify what the best side hustle is for you.  Everyone that is looking to start a side hustle should read The $100 Startup by Chris Guillebeau.  It is an awesome book and walks you through how ANYONE can start a side hustle TODAY.
Now that you know why and how to start an emergency fund, go ahead and start right away!   Your future self will thank you.
Leave a comment below.  What steps do you plan on taking first?   What struggles do you foresee in getting your emergency fund started?
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7 Reasons Why You MUST Have an Emergency Fund

Why You Must Have an Emergency Fund

Updated: April 2, 2020

Disclaimer: This post contains affiliate links. We may earn a small commission from purchases made from the links. 

Why do you need an emergency fund, exactly?   Well consider this- life is going great- you are living the dream, you can pay all of your bills on time, and you STILL have a little money left over after each paycheck for your weekly Target splurge. You are feeling comfortable with your finances.

Then BAM! The carburetor goes out on your car. You are stranded on the side of the road stressing about how you are going to pay for the repairs.  Your financial security is gone in an instant.

Sound familiar?

We have all been there at some point in our lives. Most Americans are not adequately financially prepared for life’s little mishaps. In fact, only 62% of Americans have $1,000 in savings to cover emergencies and 21% don’t have a savings account at all.

Let’s take a look at 7 reasons why you MUST have an emergency fund set up.

1. Illness/Injury

Unless you are Superman, there will likely be a time where illness or injury strikes. Illness/injury is a financial double whammy because not only does being injured or sick impact your ability to work, but it is also super expensive. In the United States, a simple trip to the ER can set you back thousands of dollars. Even Superman succumbs to kryptonite, so be prepared! This is one of the most important reasons to have an emergency fund because this is one of the most common reasons a person’s financial plan goes off the rails.

2. Loss of Work

You are awesome! You are a rockstar at work and everyone loves you.  Despite all of that, chances are that you will involuntarily be out of work at some point in your life. Whether you are laid off, need to take some time off to deal with personal matters, or are forced to quit due to the working environment/conditions, there is a very real chance you will have to deal with this during your career. Unfortunately, loss of work = loss of income.  Having an emergency fund can help alleviate some stress during these periods of time.

3. Housing Emergencies

Call me crazy, but housing is one of those must-have items and can be hella expensive.  Expenses pop up when you are least expecting them (and least prepared for them!). If you are a homeowner, everything will break at the same time. Like, that is definitely going to happen at some point, if not at multiple points in your life. When my husband and I moved into our home, we had a major basement leak, furnace issues, hot water tank issues, etc. Those things are not cheap, yo!

If you are renting, you are at the mercy of someone else. The owner may decide to up and move leaving you totally in the lurch and in the need of a ginormous security deposit for another place, moving costs, and more. Yuck! You never want to worry about where you and your family will sleep.

4. Needs of Loved Ones

We are nice people so we absolutely adore our friends and family. We would do anything to help them out. Unfortunately, we sometimes do have to do anything to help them. Life happens and stuff comes up for our friends and family. Sometimes, these needs are so dire that they have no one else they can turn to. It is important to have that financial security so you can not only help yourself but also help someone else (disclaimer: I want to make sure to add, if you give to someone else before you are financially fit, the reason better be super-duper important, I’m talking life or death here).

5. Children

Speaking of loved ones, children are really expensive. They are little cash-guzzling machines – diapers, formula, food, toys, car seats, clothes, more food, schooling, the list goes on. This stuff adds up and it adds up quickly! Not to mention, you have to pay to have the little nuggets in the first place. Whether you grow your family by having children or adopting, you want to make sure that your mind is fixated on the momentous joy of growing your family and enjoying them, not worrying about money.

6. Death

Alright, I’m going to be depressing for a minute. Life happens and unfortunately, death happens. You want to make sure that you have adequate finances if, Lord forbid, you have to deal with the death of a loved one. So many people are forced to make sacrifices in honoring those they love  or dealing with their grief because they do not have adequate financial resources. You will have enough to deal with during these moments, finances should be the last of these worries.

7. Opportunity Strikes

I’m going to redeem myself here and get us back on-board the happiness train. Like everything else we discussed, opportunity can often strike when you are least prepared for it. We need to make sure that we are in the position to seize any opportunities that come our way. This may be a new business venture or a great job which may require relocation expenses. Never let lack of financial resources get in the way of fully realizing your awesomeness. An emergency fund allows you the security to take advantage of opportunities that may come your way.

Having an emergency fund affords you infinite freedom and security to deal with the game of life. Now that we know that this is super-duper important, check out this post to find out how you can quickly start an emergency fund even if you are living paycheck to paycheck.

Drop a comment below. What situations have you encountered that you needed an emergency fund?   What challenges do you have in setting up an emergency fund? We would love to hear!

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