The Emotional Bank Account

Updated insider information by Chellie Campbell, author of “The Wealthy Spirit: Daily Affirmations for Financial Stress Reduction” 317-November 13 “You leave home to seek your fortune, and when you get it, you go home and share it with your family.”—Anita Baker Sometimes when I speak to groups, I tell my story of having come to Hollywood to be a star. I pause, look around the audience and ask, “Anybody recognize me?” There is usually a good laugh at that, but once a hand shot up in the back of the room and a shout rang out, “I do! I do!” I looked out into the audience, recognized the speaker and said “Thanks, Mom!” That was one of the endless deposits Mom and Dad made into my emotional bank account. Sometimes the “Bank of Mom … [Read more...]

Live within Your Means

Updated insider information by Chellie Campbell, author of “The Wealthy Spirit: Daily Affirmations for Financial Stress Reduction” 316-November 12 “Annual income twenty pounds, annual expenditure nineteen nineteen six, result happiness. Annual income twenty pounds, annual expenditure twenty pounds ought and six, result misery.”—Charles Dickens Notice that you can add any amount of money to this formula and the result is the same. If you make a million dollars a year but spend $1.2 million, you’re in just as much misery as the person who makes $30,000 and spends $32,000. The problem is over-spending. Human beings are basically just desire machines. It sometimes seems we can’t get enough of anything. I know it’s impossible for me … [Read more...]

Read All the Fine Print

Updated insider information by Chellie Campbell, author of “The Wealthy Spirit: Daily Affirmations for Financial Stress Reduction” 315-November 11 “Education is when you read the fine print. Experience is when you don’t.”—Unknown After my bankruptcy, I needed to reestablish good credit, so I applied for a “secured credit card.” This is a credit card that is issued when you put money in a savings account at the bank that issues you the card. The credit limit on the card is equal to the amount of money in your savings account. With time and a good credit history, they may periodically raise your limit without requiring that you deposit additional funds in savings. (Of course, they are dealing with people with problem credit, so they … [Read more...]

The Benjamin Franklin Close

Updated insider information by Chellie Campbell, author of “The Wealthy Spirit: Daily Affirmations for Financial Stress Reduction” 312-November 8 “Much ingenuity with a little money is vastly more profitable and amusing than much money without ingenuity.”—Arnold Bennett When I can’t decide whether or not to do something, I use a sales technique called “The Benjamin Franklin Close.” (I don’t know why it’s called that.) I take a piece of paper, draw a line vertically down the middle of it, and label the left hand column “Pro” and the right hand column “Con.” I write down all the reasons I can think of for taking the action in the left column, then all the reasons for not doing it in the right. By the time I am finished, it is clear … [Read more...]

Need and Want

Updated insider information by Chellie Campbell, author of “The Wealthy Spirit: Daily Affirmations for Financial Stress Reduction” 311-November 7 “It’s possible to own too much. A man with one watch knows what time it is; a man with two watches is never quite sure.”—Lee Segall “Let’s go shopping—I need to buy some clothes!” I told my friend, Shelley. “Need?” she asked. She caught me. “Well, no,” I admitted. “I already have clothes, so this isn’t about need. It’s really about having some fun at the mall!” “That sounds good,” she replied. “Let’s go!” We often overuse the word “need.” It’s been mentioned by various prosperity teachers that using the words “need” and “want” create a feeling of lack and limitation rather … [Read more...]