Prosper News: October 2008
These are challenging times, to be sure. How can you keep your business or your personal finances above water? Many are probably wondering if there is anything else they can do to go the extra mile and be more prepared. The absolute best thing you can do is learn. Educate yourself on what is happening in the world and the economy. Take the time to keep current, and then help others learn as well.
Another thing an astute entrepreneur should do is take the time to educate their kids about money and business. If you run your own business, take the kids along and show them the ropes. It is never too early to teach kids about money.
You may have noticed, but schools teach very little on money management and finances. If you are currently working to get out of debt, work through your situation with your children. Teach them how interest (and fees and penalties) on a credit card works. They will appreciate the time with you, and it will help them avoid making any similar money missteps in their life. If they don't learn it from you, they may not learn it anywhere. You will also notice that as you teach others, you become more aware as well.
We strive to provide you with the tools and resources you need to expand your learning and stay ahead of the curve. The more you learn, the better you will be prepared for the changing conditions you will face each day. We are truly in a global economy that is able to change with the winds, and it frequently does! We encourage you to be diligent in studying and learning. Take your assignments to heart, and be sure to fully study the things your coach recommends. If you have a hunger for additional knowledge, ask your coach for a list of recommended books or materials that you could study in addition to your regular assignments. An investment (of time or money) in your knowledge or education is probably the best investment you can make.
To help you increase and continue your learning, we have been working hard to implement the requests we received from everyone in our recent newsletter survey. We received several comments about improvements we can make to the newsletter to better tailor it to your needs and provide more of the information that you are looking for. In response to your requests, we have been working behind the scenes on a revised newsletter with several improvements. It will be easier to read, print, and navigate, and will contain valuable information on the latest trends and issues in today's markets to keep you educated. Watch for the next generation newsletter in the coming months.
Best of success as you progress and learn in the meantime,
The Success Team at Prosper
Success Story/Tip of the Month:
We Have a Fire Lit Under Us
We have a fire lit under us and we are very excited. Up until now we'd done all the things that we were asked to do. We took a long hard look at our finances/debt and had to come to terms with the fact that we were in a bad place. We learned something new every week and were always excited to get the work done just for the knowledge we'd acquire and the changes we'd make. We called our credit card companies and reduced interest on $24,000 to 0%. These two accounts were both 5 months past due, but will now become current within four months.
We also calculated that we could be debt free (credit card debt) by August 2013 following the DOLP System. We also closed credit card accounts that had not been used (but had remained open) for at least 5 years. Our future is now laid out before us. Each month, we pay $1,000 toward old debt, and about $800 of that goes towards the principal!
Our eyes were open to the fact that we could actually really have and see our dream a reality. All this time it's just been a 'dream', but now we can actually see it (goals) and are chomping at the bit.
Thank you for all you've done for us, including telling us some things we didn't want to hear.
—David & Ahissa L.
There are so many ways to handle your debt and finances. We are dedicated to finding the latest tools and techniques to help you prosper. By now you know that is may not always be easy (and we may tell you things you don't want to hear), but we will take you by the hand and show you the steps it takes to become financially free and live your dreams.
If you are truly committed to learning, you can achieve your financial dreams. We are here for you every step of the way. By continuing to learn, you ensure that you are always on top of the latest trends, and that you have the knowledge and skills to find success in any endeavor, regardless of any changing economic conditions.
If there is anything we know for certain, it is that life can change dramatically in no time at all. The economy will cycle up and down. Do not think that because you paid off a debt or made a profit on a sale that you are where you need to be or that you can sit back and relax. You might be sitting pretty today, but what does tomorrow bring? We can help you stay informed through a lifetime of learning, so that you are always ready for whatever changes come your way.
