Smart Money: How to Invest your Income Tax Refund

2016 is fast approaching which means income tax season is coming! If you are like many Americans who receive an income tax refund, you have already estimated your refund and you're anxiously awaiting W-2s! So while you are mapping out what you could potentially do with your refund (if you get one), make sure you prioritize. Put the most important things FIRST: life after tax season! There are several things you can do to maximize the use of your refund and position yourself for life after refund. Including (not limited to):

• invest in bonds
• invest in stocks
• pay your current bills up for 6 months
• buy & pay up your life/health insurance for a year or two
• start a business
• DO NOT buy or finance a vehicle, jewelry, anything from Aarons, Rent-a-Center, etc!

Let's focus on two options: business and insurance. In 2013, I received an income tax refund of $1,118 and started my natural product line. I invested those funds to start a business that I was passionate about without going into debt. Another great option is life insurance. Life insurance is a great investment tool to have in your portfolio (not term or whole life). When you receive your income tax refund, pay it up for year or two! No new "bills," and your life is covered!

Let's take a look at some numbers for me. I am a 25 year old female, no tobacco usage, with no medical issues, and I have not been prescribed any medications in several years (since a bad stomach flu in 2012). I also have a four year old son that I want to protect. Here are a few options available to cover me and my son for a year (these numbers are for 12/17/2015):

Foresters
Smart UL $250,000: $1,275.31
20 Year Term: $484.60

AIG
Elite Index II $250,000: $817.60
20 Year Term $250,000: $186.50

Mutual of Omaha
Guaranteed UL $250,000: $$1,144
20 Year Term $250,000: $452


These are just a few options that I have available. Keep in mind that permanent insurance is customizable, and the right agent will customize a protection plan that fits your needs and your budget. Stay tuned for more information about how to customize your life insurance to fit your needs and your budget. Be blessed!

~Shanta Wilkerson

PRODUCTIVITY + HEALTH + PROGRESS

PRODUCTIVITY + HEALTH + PROGRESS

If you follow me on Facebook, you know that I recently purchased a "new" car, and I've put quite a few miles on it! Not only are those miles on my car, they are also on my body! What happens when an individual does tremendous amounts of driving and spends hours in their car? Fatigue, exhaustion, and poor eating habits. My body is still recovering, but these are things that I must do in order to succeed in life & business. With this realization, I have challenged myself to do more, better!

Productivity is very important. With all of the driving and movement that I have been doing, there are other things that I did not get done! I didn't manage my time effectively and it caused me to be less productive over the last 27 days than I should have been (but family comes first!). Since I use Google for so much, I decided to start using the Google Calendar to help me stay on task. IT IS FANTASTIC!! I can map out  my day/week on Saturday evening before bed, and I receive notifications on my cell phone and my tablet. I get more done now that I have active alerts. I still love the Passion Planner for long-term goal setting, but I need something to alert me when it's time to shift activities.

Health is equally important for on-the-go entrepreneurs! I know that I need to have healthy eating options available! Most grocery stores sell individual fruit & yogurt or veggie trays and personal salads. No, you can't eat salad while driving, but there are also wraps in the deli that you can pick up. If you go to Publix, you can have a few made before you hit the road. Keep a cooler in your car with your treats. If you ride alone like I usually do, keep a smaller cooler on your passenger seat within reach for easy "snackcess!"

Don't try to defeat the road!!! When you feel your muscles getting stiff, pull off into a rest area and stretch. That five minutes of rejuvenation will save you a lot of physical pain and potential money when you finally arrive! Also, make sure that your vitamin B and Iron levels are within the normal range before your trip. Low iron along with poor eating habits, and lack of adequate rest was the cause of my extreme fatigue. I missed an epic symposium because I was unable to drive the 2 hours to get there. I actually checked myself into a Best Western and didn't wake up for about 4 hours (best sleep ever)!

PROGRESS: I recognize my shortcomings and how dangerous they have been for my body. I realize that I can not accomplish anything or raise my son if I am not here. It is very important to manage time effectively and take care of your body. I am mapping out my weekly/monthly schedule in Google Calender to ensure that I am able to do what I need to do, and I can reschedule anything that is not an immediate concern. Lets all be more productive and healthy from here on out!

~Shanta

I am SUPER WOMAN (but geeze am I tired!)

I am SUPER WOMAN

(but geeze am I tired!)

 

 

The quote pictured above is the truest statement of the year! I am a self proclaimed Super Woman, and my kryptonite is trying to do EVERYTHING myself! I do not delegate well, and it causes me to do a bunch of things half well. While I do admit that I do the juggling act pretty well, I don't like the feeling of constant pressure and not being able to actually enjoy my efforts! I need BALANCE! I know many people can relate to this, and I think the following are key ways to get past your Super Woman/Man syndrome!

1. Delegate: Stop trying to do everything yourself! You are an intelligent woman/man, therefore you have other intelligent women/men around you. Let them help! Trust me, if it makes you less stressed, they will take your instruction and help willingly!
2. Prioritize: Make lists of all the things that need to be done and prioritize it. What things need to be done? What things need to be done by you? What things can be postponed? What things are completely unnecessary? When you finish this list you will see how much time you really have and how much time you've wasted!
3. Schedule: Get a good planner, and schedule your day. Best practice: Schedule your week Saturday night or make your schedule for the following day before bed (Schedule Monday on Sunday). This way, you are clear on what needs to be done the following day, and you are prepared for the inevitable "unexpected time expense!"
4. Set goals: The best way to hold yourself accountable is to set goals and put a definitive date on it! This is an area where I am weak. I procrastinate at times and it

These are things that I am implementing in my own life as well. The Passion Planner is an EXCELLENT tool with prioritizing, goal setting, delegation, and scheduling!! You may even be able to get it for free (like I did)! Even if you do pay for it, it is well worth the expense to have a planner that is so intuitive! I'm getting the bound version next year! Let's take this journey together! As I continue to shake off this Super Woman complex, I know it will make me more effective in every area of my life.

~Shanta