I came across this article from Money magazine September 2018 issue. I want to share it with you to learn together some good pieces of advice from Bethenny Frankel, CEO of Skinnygirl (www.skinnygirl.com). This article was written primarily by Jennifer Calfas. Here I summarize some important points that edify me. I which you too find some edification from it. I am sure that you can find the article on the website of Money magazine. I don’t have any affiliate with the author, I am convinced these four steps elaborated in her article are good steps for me to practice as a seeker of financial freedom. For further reading get the article from Money magazine. I love that magazine. Here is a summary of the conversation interview of Jennifer Calfas with Bethenny Frankel.
Bethenny Frankel is a serious and focused businesswoman. She doesn’t do thing half way. She gives all of herself to the task she is assigned to. She said to Jennifer: “if am going to give my all, then I am not doing it.” Bethenny also said to her reporter. “If I make you a drink, I am going to be sure it’s the best drink you ‘ve ever had.”
Wow! What a personality, I understand why Jennifer quote: “she is a perfectionist. Nothing wrong with that. Always give the best you have to others. When you know, you have the best in you.”
Bethenny’s career brought her to Apprentice, House Wives, and Shark Tank. But it was not always easy financially for her. To get her financial freedom, she follows four rules in her life. Let us delve into her four rules right now.
CONTROL YOUR DEBT
In the previous life, debt prevents her from doing the things she wants and being a businesswoman. Before her big freedom, she couldn’t pay her rent in NY city. She had no money management skills. She spent money out of control with a sense guilty conscious. She moved from cash to credit card, the bad habit of spending worsens.
She consolidated all her debts and credit cards in search of a financial solution. Pay your debt. Start with the smaller to the larger one. She reminds us to not buy things we do not need. Follow the great advice of Warren Buffet “If you buy things you do not need, soon you will have to sell things you need. “It is true control of your debt.
MAKE WORK WORK FOR YOU
Her work philosophy is “Work hard, and don’t waste anyone’s time.” She said working efficiently makes you a valuable asset to any business you are working for or any project you’re working on. And could result in faster promotions and better wages. But mobility within your own career has a lot to do with pushing to get what you want and knowing your worth. “Try to create a situation where you add value, and the whole thing comes to a place of yes.” Do something, that you love, a job that you enjoy doing, and something you are good at. Most people sit back, and wait for things to happen for them, and complain when they don’t get them. Don’t be that person.
INVEST IN YOUR HUSTLE
She was divorced at the time she got the opportunity to be part of the Housewives of New York. She is a visionary. She used the platform of Housewives of New York to promote her business and it works. Then, she opened the door as a pioneer for other women to take advantage of their reality TV as a platform to boost their entrepreneurial endeavor. She said, “Everybody else just had to play catch-up after they saw what I did.” She also said, “I have failed many times, but I’ve always learned more from my mistakes.”
I will also add in regard to the wages that you earn from your work, pay yourself first. Anytime you get paid., save first and spend the rest, not spend first and try to save after. That’s what many people do, don’t be that person ask your job to deposit 10% of your paycheck to a personal saving and cash the rest. (Read the book the richest man in Babylon. I don’t have any affiliate with the publisher. I just do it out of my goodwill for you. Enjoy the reading).
One thing that I have learned from George S. Clason. Saving to invest in a profitable business is a very import remedy. One of the best and affordable away is investing in a well-established marketing and networking business. After many trials and errors, I found one that resonates with my investment needs. My readers can check this affiliate link to start investing in your journey of financial freedom. Align yourself with great companies and a great community of successful people and you will see great things will start coming into your life.
SPEND WISELY AND GIVE BACK
Today Frankel consider herself frugal. She spends money on thing that brings value to her and those who live around her. Giving back to others is also a way to her financial freedom. She gave millions of dollars’ worth of food, water, gift cards, and emergency supplies to those who were affected in Puerto Rico by the hurricane. She traveled to Guatemala to work on relief efforts to help the country that was devasted by the deadly volcanic eruption. She raised the money among her friends’ celebrities. She said, “People now are so much more educated, and they want to know where their money is going. Even if it’s a dollar. Is it a bottle of water a nail, a piece of wood? And I gave them that. I gave them that financial freedom and power to say you’re giving money, and here’s where it’s going.”
Shelove Tilus, Minister & Entrepreneur.
Shelove Tilus is the Pastor and Founder of Croissance Ministries and Host of Croissance Radio Podcast on Live Facebook (Creole broadcast every Saturday at 11 Am). He has a BA in Psychology, an MA in theology and a license in Life Insurance. He is a happy father of four boys and happily married. His life’s mission and moto are: “Love God and changing lives one soul at a time.”
Jennifer, Calfas. “Find Your Financial Freedom! With Bethenny Frankel.” Money, Vol, 47, no 7, Sept. 2018, pp. 38 -45