The Money Diet
How to Achieve Financial Independence on a Limited Income
(KANSAS CITY, Mo.) -- Are you living from paycheck to paycheck? Are you always short of cash? Does money just seem to disappear?
The first diet for women who want to tone up their flabby financial positions has been developed by Stowers Innovations, a Kansas-City based publishing house and forum for the philosophies, beliefs and practices of self-made billionaire James E. Stowers.
The Money Diet is designed for women with limited financial resources who want to get on the road to financial independence.
"Most of us have more wants than we have money," says Stowers, a struggling mutual fund salesman in 1952 who is today one of America_s wealthiest men and a leading philanthropist. "This creates the challenge of deciding what has priority."
Although most women have a finite amount of money to work with each month, Stowers says paying herself first should be a woman_s number-one priority. "Even before paying the rent or mortgage, why not invest 10 percent of your gross income in your financial future?"
How does the average woman accumulate wealth?
In his book "Yes, You Can _ Achieve Financial Independence," Stowers says if you can change the way you think about spending money, you can get ahead financially, even on a limited income. "I estimate I saved $1,070 a year by taking a peanut butter sandwich to work every day instead of eating out. And another $300 using freeon-street parking instead of paying a garage $25 a month."
The Money Diet is a woman_s thought-provoking guide to making healthy financial choices:
- Can_t live without your store credit card? You might be surprised to know
the interest rate on retail cards is typically 3 percent higher than a bank card
or around 21 percent
- Want to eat better without spending more money? Cooking from scratch is up to
6 times cheaper than frozen convenience foods and mixes.
- Concerned about high utility bills? Unlike your microwave, 80 percent of the energy that goes into stove burners dissipates into the surrounding air
- Ever wondered what happens to the money you save on coupons? If you wrote yourself a check for that money, five dollars saved each week at the grocery store would yield $260 by the end of the year.
- Will you or your husband get a raise this year? By investing all or part of it, you could make your money grow instead of raising your present standard of living.
- Don_t have a lot of willpower? There_s probably one impulse item in your grocery cart that could be removed before you get to the cash register
- Can you learn to do your own nails or give up brand-name clothing? Breaking a few non-essential few spending habits can help you find extra money each month.
- Love getting an income tax refund? You might want to double-check your withholding. A refund is not free money; it_s the money you lent the IRS
at 0 percent interest last year.
- Did you know the time period between when your credit card statement is mailed and the balance is due is shrinking? And Americans pay more than a $50 billion annually in late fees? Adopting a cash-only policy could prevent you from falling into a credit card trap.
- Just can_t seem to get ahead? Money can be transferred directly from your checking account into a mutual fund where it will grow. Most people are less likely to dip into a mutual fund than a savings account.
Stowers Innovations (www.stowers-innovations.com) (1-800-234-3445) was founded in 1990. It is the exclusive publisher of "Yes, You Can _ Achieve Financial Independence," James E. Stowers_ award-winning book illustrated by Mad magazine cartoonist Paul Coker. Other financial aids include Stowers Financial Analysis, a series of detailed, interactive worksheets that give users an in-depth look at where they stand financially today and what actions they might take to improve their financial positions, and "10 Proven Ideas That Could Improve Your Financial Position," a free pamphlet of the most important principles to staying out of debt, living within a fixed income, and growing personal financial worth
Stowers Innovations, Inc.
James E. Stowers
James E. Stowers is founder and chairman of the board of American Century Companies, one of the nation's leading investment management firms with nearly
$85 billion in assets and one of Fortune Magazine's 100 Best Companies to Work for in America. He started the company in 1958 with two mutual funds and initial assets of only $107,000.
A soft-spoken Midwesterner and self-made billionaire, the 78-year-old Stowers has
long been a champion of the small investor. He is the author of "Yes, You Can_Achieve Financial Independence," now in its third printing. This award-winning, easy-to-read book shows people how to manage their money, regardless of their current financial situation.
In 1990, he founded Stowers Innovations, Inc. (www.stowers-innovations.com),
a Kansas City-based publishing house and forum for the philosophies, beliefs and strategies that helped Stowers become one of the country's wealthiest men.
In 2000, Stowers and his wife, both cancer survivors, contributed more than $1 billion to create Stowers Institute for Medical Research in Kansas City, Mo. The Institute conducts basic research into complex genetic systems to unlock the mysteries of diseases and find the keys to their causes, treatment and prevention.
Stowers holds two degrees from the University of Missouri, a bachelor of arts degree in arts and sciences and a bachelor of science degree in medicine. He was an Air Force fighter pilot during World War II. Stowers was named 1992 Entrepreneur of the Year by the University of Missouri-Kansas City's Henry W. Bloch School of Business. He and his wife, Virginia, live in Kansas City, Mo. They have four children and five grandchildren.