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2010 Executive Tidbits
IBM, P&G, General Mills, McKinsey, and McDonald's have the best manager training programs according to Fortune 2009. |
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Check out Keith's other site:
Virtual Writing Coach |
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The
Executive Connection SM
a publication of The Virtual Executive
Coach SM
"Vision + Accountability = Success!"
www.virtualexecutivecoach.com
August, 2009
In This Issue:
1. Preview
2. Executive Summary
3. Making Peace With Your Money
4. Helpful Hints
1. Preview
The Executive Connection explores the creative and analytical
process of business development, team-building, and executive
development. We are an interactive community of executives
and small business owners who desire to network with like-minded
high-performance executives to enhance our knowledge,
skills, and aptitudes in the competitive business world.
Published monthly, the Newsletter offers coaching suggestions
around the topics of: business development, financing,
marketing, networking, incorporations, mergers, human
resources, governmental regulations, and tax laws. Topics
are presented from the perspective of Keith Barton and
represent only his ideas on creating and running your
business.
Because we are an interactive community of executives
and business owners, other viewpoints are welcomed and
may be printed in future monthly newsletters with permission
from Keith Barton.
2. Executive Summary
August, 2009
Dear Executive Connection Subscriber,
This month's newsletter features: Making Peace With Your Money
3. Making Peace With Your Money
Fortune's July Issue has an interesting feature
on how to budget and save in economically distressed times.
Their "easy way to budget" has three "buckets" of money:
1) how much you want to save monthly; 2) recurring credit
card debt and fixed expenses; and 3) daily costs (variable)
for food, weekly spending, incidentals. Rule Number 1
is to pay yourself first. Set aside the maximum allowable
for your retirement, either through a company-sponsored
plan, Simple Employment Plan (SEP) or IRA. Set up automatic
transfers from your checking to savings plans. This way
you budget for savings monthly without it being discretionary.
Next, take a hard look at your recurring costs-e.g. gym memberships, magazine
subscriptions, phone lines, cable, etc. How much do you use them? Do you really need a
broadband connect for your laptop at $60 monthly recurring cost? Other rules of thumb:
- Keep six months cash in a savings account for emergencies or job layoffs.
- Reduce payments on low-interest credit cards and pay off higher-interest cards first.
- Earmark a low-rate credit card to use as a last resort.
- Sit down with your spouse weekly and talk about ways to reduce expenses.
- Set goals instead of assigning blame for spending.
- Set-up separate "mad money" accounts.
- Set-up bank alerts for when bills are due to avoid penalties; move banking to one bank.
- It is not un-American for me to disagree with authority or to share my personal opinion.
- Teach your children how to budget; give them an allowance; don't front them cash.
- Invest no more than 5% in your company stock.
- Keep discretionary spending (eating out, clothes) under 20% take-home pay
- Look at refinancing when rates are 1% lower than
your current rate; plan to live in your house three
years.
Couples conversational starters are:
- What is my biggest money worry?
- What are my top three savings priorities?
- Is there anything I want to understand better about our finances?
- If we had to cut back, what three areas would I choose?
- Are there any important money tasks I'm procrastinating on?
Sign up for mint.com
or quickenonline.com
to help monitor your accounts in one place for free. Set
up online bill payments with your local bank and debit
the amount in your checkbook. Avoid overdraft ($27), credit
card late fees ($34), and credit card limit fees ($37).
Today 74% of kids say they are worried about the economy
and 47% say they would like to talk more with their parents
about the economy.
Helpful Hints:
- Begin your conversational talks with your spouse using the questions in this newsletter.
- Don't focus on our national economy; you can't do anything about it, but you can write your own budget plan for your family.
- Do not spend more than $200 for one item without consensus from both partners.
SUBSCRIPTION INFORMATION
The Executive Connection SM is a free publication.
If you want to continue to receive this Newsletter, you
can SUBSCRIBE
by clicking here or by sending a blank email message
to keith_barton@att.net
with the words SUBSCRIBE TO THE EXECUTIVE CONNECTION in
the subject line.
To
UNSUBSCRIBE click here or send a message to keith_barton@att.net
with the word UNSUBSCRIBE TO THE EXECUTIVE CONNECTION
in the subject line.
Be assured your name and email address are confidential.
We do not sell, rent or share our mailing list with anyone.
Contact Information:
Keith Barton, Ph.D.
Voice: 281-583-5005
Fax: 281-583-5008
Web: http://www.virtualexecutivecoach.com
E-Mail: keith_barton@att.net
(c) Copyright 2009, Virtual Executive Coach SM
and A. Keith Barton, Ph.D.
All rights reserved.
Distribution Rights:
The Executive Connection SM is copyrighted,
but you may retransmit or distribute it to whomever you
wish as long as not a single word is changed, added, or
deleted, including the contact information. However, you
may not copy it to a web site.
Republication of The Executive Connection SM
in paper media is encouraged and permitted by individuals,
organizations and associations, as long as the issue is
reprinted in its entirety, without change, and includes
the contact information.
With advance permission, we are happy to edit an issue
to fit your space requirements. Republication also is
encouraged under other circumstances. However, the advance
permission of
A. Keith Barton, Ph.D. must be obtained in the event that
changes in the text are desired.
The Executive Connection SM
Mission:
The Executive Connection SM is dedicated to
helping first-time business owners and executives to recognize
resistance to change, while they create and manage their
own businesses. My goal is to help you transform your
vision into a successful business venture with the addition
of accountability structures and silent partner.
The Executive Connection SM is a publication
of The Virtual Executive Coach SM and Keith
Barton, Ph.D.
We would like The Executive Connection SM to
be as interactive as possible. If you have feedback, comments,
topics you would like addressed, or can suggest additional
resources to benefit us all, please email us at any time.
Send your e-mail to keith_barton@att.net.
Please forward this issue to anyone you think would find
The Executive Connection SM interesting and
beneficial. Your recommendation helps us keep growing,
and ensures an excellent exchange of information and techniques.
Archives:
You can read previous issues of The Executive Connection
SM in our archive section.
About Keith Barton, Ph.D
Dr. Barton received his Ph.D. in 1972 from the University
of Texas at Austin and has been a practicing therapist
for over thirty years. He is a graduate of MentorCoach
and is accepting new clients.
He has been an adjunct professor at the University of
South Carolina, consultant to Fortune 500 companies in
executive development, founded and managed Texas Community
Living Ventures, Inc., in 1986 for providing group home
services to persons with mental retardation. Keith founded
and has been running a clinical practice in Northwest Houston since 1990.
He writes part-time with the goal of completing one novel
a year. His desire to coach others derives from his passionate
interest in helping others become attuned to their creative
powers of storytelling.
Dr. Barton has training in coaching, cognitive and family
therapy and health psychology. He has published articles,
made presentations and conducted workshops about:
Small Business Development
Employee Wellness Programs
Anxiety and achievement
Stress management
Self-esteem
Communication skills
Leadership styles
Core values in the workplace
Executive Development
High-performance groups
Physician support groups
Writer support groups
© 2009 The Virtual Executive Coach SM
and Keith Barton.
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