Care2 Tool Bar

  • To sign up for the Care2 Tool Bar go to -->

Monday, January 7, 2013

Here is to being back at growing the economy.

It has been way too long since I dedicated this blog to Economic Empowerment.
A Financial Planner Admits Her Money Mistakes
by Joanna Shoemaker

blonde runner

Today’s post is part of a new series called “Life by De$ign,” which explores non-traditional choices that women make in order to make their finances work.

I’m a 33-year-old financial advisor, and you can call me Joanna. I invest and manage millions of dollars for people.

So why am I moving my husband and two toddlers into my dad’s house? 
 Because we've been living beyond our means, (LBOM). Like the shoemaker's kids who go barefoot, I tell other people what to do with their savings while my family has none.

LBOM, or the "L-Bomb," as I like to call it, began when my husband and I bought our first house in 2005. We thought that to be "real adults" we had to buy a house. It was the height of the market, and we'd been outbid on four previous offers. Our desperation to buy caused us to act irrationally.

After using all of our savings for a 5% down payment, we took on a mortgage payment that ate up 30% of our net monthly income. I suggest to clients that it should never be more than 20%.

Six years and two babies later, our monthly expenses are $12,000 while our net income is only $10,000. After three months of putting my kids' daycare payment on a credit card and seeing our revolving debt snowball to $40,000, something had to give. And it was our pride.

While I may have to see my 75-year-old father in his underwear, at least my kids will have shoes.
In addition, there is also>>>>
 Dear Reader, I have subscribed and post it this here for your consideration.
Barbara, thank you for subscribing to my new monthly newsletter. You will receive new career tips, insights on the latest workplace trends, guest contributors, interviews, quotes, and answers to your most pressing questions. All of this exclusive information will help you better promote yourself! My core belief is that to be successful today you have to be accountable for your career and take charge of your life. This fall I will be releasing my second book called "Promote Yourself: The New Art of Getting Ahead", a five year project that will unveal the secrets to getting ahead at work. I also just launched my new website ( ), which contains all of my best career material. I hope that you will find a lot of value from this newsletter and be sure to forward it to your friends and colleagues.
Engage in career-related discussions with me on

Connect Digest
This Weeks Best Conversations from our Small Business Forum

Now View, Share & Post Updates. Because business is social.  See the new feature.
Answer: I always start with a circle around where I live and grow it outward. I contact the people I do business with. It helps get the word out that you are in business... See the full thread
Add your answer | Want Help with Marketing & Advertising? Ask a question here
Related article: How to Advertise Small Business and Attract New Potential Clients

Answer: Now I’m going to let you in on the most important, and most often overlooked aspect of social networking: It’s not about selling... See the full thread
Add your answer | Want Help with your Social Media? Ask a question here
Related article: 12 Top Tools to Manage Your Social Media Marketing