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www.valuecapitalfunding.com 800-944-6280 AUGUST 2020
THE
Financing Forum
Friendships provide some of the most important learning experiences of our lives, and when it comes to friendship, I couldn’t be luckier. I grew up in Rockland County, New York — specifically New City. We moved there from Queens, and the first friend I made was Len when I was 6 years old. Barry, my older brother and Value Capital business partner, had become close friends with Len’s older brother, and through social osmosis, I became close with Len. That was 48 years ago. As the decades have passed, we’ve gone to college in separate states, met our future wives (my then girlfriend, now wife, introduced her best friend to Len and they married!), and had our kids. Even before cell phones and emails were the norm — we managed to stay in touch and remain close. Today, even our kids are friends with each other. Through births, weddings, and funerals, we’ve been through a great deal of life together. I think it’s critically important for us to maintain those relationships in our lives, even when the hardest part is staying in touch during adulthood. Friends enrich our celebrations and make our most difficult challenges a little easier. We don’t always have to profess admiration to support one another either — we just have to be there. My father passed a few years ago, and one of the most encouraging things I remember was the way Len looked at me at the funeral. When you’ve known someone for that long, you can read volumes in their facial expression. Len A TRIBUTE TO LIFELONG FRIENDSHIPS Happy Friendship Week! Value Capital Funding … Get To Know Us Better. Value Capital Funding specializes in helping small-
knew my father well, and he didn’t have to explain how well he understood what the loss meant to me for me to feel his condolences. I could say just the same about Rob, another lifelong friend of mine. Len is a year older than me, so he attended middle school before I did. He met a lot of new people, including Rob. I met him not too long after. That was 43 years ago. Rob and I share very much the same story as I do with Len, although I introduced Rob to his future wife by accident, recognizing her as a classmate while visiting Florida on vacation … and she turned out to be very good friends with my future wife. (The world operates in funny ways, doesn’t it?) I’m a fanatical tailgater — for the uninitiated, tailgaters are people who spend hours in the parking lot outside of sport stadiums, pre-gaming before the event. Len and I attend games a few times every year, but as New York Giants season ticket holders (pre-pandemic), Rob and I used to tailgate every week. How often do adults set aside seven to eight hours to spend with friends anymore? I always knew it was rare and felt lucky to have Rob around, but during the pandemic, it’s something I truly miss. I know how difficult it is to maintain our closest friendships right now. For some, moving weekly hangouts to Zoom has been a very strange experience. But, as unusual as it might be, it can mean a lot to reach out to the people we care about and sustain friendships in these unusual times. And if you’re looking to make new friends, remember that the most important part is being there. Spending time (safely!) with other people, even just a little bit, can make all the difference. Happy Friendship Week!
business owners nationwide restructure their business debt. This results in payments that are 40%–60% lower than what they are currently paying, without damaging either their personal
or business credit. 90% of applicants are approved, and payments are lowered within just days of initial contact with us. We show you what your new debt payments will be so there’s no guesswork involved. Please visit our webpage at ValueCapitalFunding.com/debt-restructuring to learn more about how these strategies can help your business today. At Value Capital Funding, we don’t accomplish the impossible — we only accomplish what seems impossible.
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Happy Financial Awa TEACH YOUR KIDS SAVING TECHNIQU
BATTLING MENTAL HURDLES
“A budget isn’t what you can’t do. It’s permission to spend based on what you want to do.”
3 Habits Entrepreneurs Use to Excel During COVID-19
Why did some companies thrive during the COVID-19 pandemic while others had to shut their doors forever? The answer is simple: Successful companies embraced creative solutions to overcome the obstacles of the shelter-in-place orders. Creativity is key to a profitable business. Innovative problem-solving is how business leaders come up with new ideas, address unexpected issues, and inspire their teams during difficult times. Here are a few habits that resourceful entrepreneurs share. THEY MAKE A SCHEDULE. Though it may sound counterintuitive, structuring your day actually improves your ability to be creative. Establishing a schedule in advance allows you to avoid having to make small, inconsequential decisions. You won’t be distracted by wondering when you’ll get lunch or if you’re missing a big meeting. It’s all already on the calendar. Reducing daily decisions gives you more time to think about what matters and helps you dedicate more of your mental energy to solving problems or refining big ideas. THEY TAKE TIME TO RECHARGE. This doesn’t mean spending all day watching Netflix. Recharging your imagination is an active process. If you’re feeling creatively drained, go to a place that inspires you. This could mean taking a walk around a park, going on a hike in the woods, or visiting your local library. Immersing yourself in others’ ideas can also help recharge your creative batteries. Swing by an art museum, pick up a new book, or treat yourself to a solo movie date. Ask yourself why a particular piece of art inspires you, what makes it worthwhile, and if you would have done anything differently. THEY PRACTICE CREATING. You don’t have to wait for inspiration to strike. Cultivate creativity by making something every day, even if it has nothing to do with your projects at work. Doodle during lunch, sing along to the radio during your drive home, or write a few sentences of a short story each night. Don’t worry about whether these personal projects are “good,” just focus on bringing them into the world. Practice makes perfect. If you believe that creativity is something that only a select few are born with, then you might find yourself struggling to be imaginative during difficult times. However, when you view it as a skill that can be strengthened, you’ll develop habits to see you through what might otherwise be a creative drought.
Jeff Kornfeld’s son once told him that — and he’s absolutely right. A lot of people feel constricted by their finances and are tempted to “free” themselves through using credit. And, to be fair, almost everybody has looked at a credit statement to find purchases they had forgotten about. But a budget is a wonderful, lifelong friend, not a prison warden! We can use classic, time-tested wisdom to create simple, effective saving plans no matter how young you start. It can be tough to talk to kids about finances because, well, it can seem boring. But an easy analogy can push the conversation forward. If you have grandparents or great- grandparents who lived through the Great Depression, you might remember them using envelopes to save money. Each envelope would have a different goal written on it (“Bahamas trip,” “new car,” etc.), and every paycheck or every month, they’d put cash away into these envelopes. It’s an old-school method of saving money, but it works because you always pay yourself first.
And, the thing is, you don’t have to use envelopes any more. You can elevate that method with modern tools:
EVERYDOLLAR is a free budgeting tool designed by celebrity businessman and American radio show host Dave Ramsey. It’s tailored for zero-based budgeting, where your expenses equal your income. You can create unlimited budgets, track transactions against your budget, and receive virtual email support. These budgets are much like virtual envelopes that tell you how much you’re putting away and how much you have left to spend. The paid EveryDollar Plus program will allow you to connect your bank, view account balances from within the app, and receive call-back support and coaching calls. MINT is a free personal finance and budgeting tool from the makers of TurboTax. Not only will it bring together your bank accounts, credit cards, bills, and investments all in one place, but it can also help keep track of your credit score. Additionally, it includes budgeting tools that show every category of where your expenses are going and how to stay on track with your goals. Getting an instant look at your finances has never been easier.
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S THIS MONEY UE
areness Day!
TAKE A BREAK
INGREDIENTS • 8 oz penne or fusilli pasta • 2 tbsp olive oil • 1/4 tsp red pepper flakes • 1/2 tsp sea salt • Pepper, to taste • 2 tbsp lemon juice • 3/4 cup crumbled feta cheese PEACH AND ARUGULA PASTA SALAD • 2 large fresh peaches, diced or sliced • 1/2 medium red onion, thinly sliced • 1 pint heirloom cherry tomatoes, halved • 1 cup corn • 6 cups arugula, packed
DIRECTIONS
1. In a large pot of boiling water, cook pasta for approximately 9 minutes or until al dente. Drain pasta and place in a separate bowl. 2. In a small bowl, whisk together olive oil, red pepper flakes, salt, pepper, and lemon juice. Drizzle the dressing over the pasta and toss with the feta cheese. 3. Add peaches, red onions, tomatoes, corn, and arugula to the pasta mixture. Lightly toss to mix well. Add more olive oil, lemon juice, salt, and pepper to taste.
POCKETGUARD is a free personal finance and budget tool that focuses on what you most want to know: how much you have left to spend. It does all the hard work of crunching numbers — accounting for bills and saving goals — to tell you how much is left “in your pocket” for the day, week, or month. You can track your budget for all your wants and needs, save for goals automatically, and even identify and cancel your subscriptions (from Amazon Prime, Netflix, etc.). It’s one of the sleekest financial tracking tools out there. We hope these resources help you and your kids better understand how to navigate their first baby steps into the financial world. It’s never too early or too late to practice designing a budget so your kids can achieve the things they most want to do in life!
Inspired by AmbitiousKitchen.com
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Inside This ISSUE
1 2
A Tribute to Lifelong Friendships
Cultivating Creativity to Optimize Efficiency in 3 Steps
Teaching Your Kids About Saving Money in 2020
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Peach and Arugula Pasta Salad
Engaging Indoor Activities
3 Activities to Keep You Busy STUCK INSIDE?
CHANGE IT UP If you’ve been putting off rearranging or reorganizing a room in your house, then a day at home is a great chance to get started. Switching up the layout of your stuff gives your home a fresh new look and provides you with an opportunity to deep-clean your space. If you have a patio or porch, then try sprucing up those outdoor spaces with new furniture, potted plants, or trendy decor. Just imagine how satisfying it will feel once everything is in a new place and sparkling clean. Even when you’d rather be outside enjoying the last days of summer, these indoor activities will keep you entertained and give you something fun to look forward to!
Summertime means getting out of the house to enjoy the sunshine and the bright blue sky. But even during this great time of year, you may have to spend some of these precious days inside, not outside. Rather than scrolling through social media or reminiscing about better days, here are a few ideas you can use to turn a day spent indoors into a fun summer memory! GET CRAFTY You’re bound to have a few materials floating around the house that you can use to create a new art project or even start a new hobby. If you have extra sheets of paper lying around, then give origami a go. Do you have a shirt you don’t wear anymore but still love? Turn it into a new pillow cover or
a bag. You can also create fun garden decorations by painting rocks, making a wind chime, or repurposing an old boot into a new plant holder. You never know — whatever you choose to do could become your next passion. PLAN YOUR NEXT VACATION Spending the day inside might just be the perfect time to plan your next vacation. Use this time to calculate the expenses of the trip, such as travel, board, food, and souvenirs. You can also research and figure out where you’re going to stay ahead of time, whether that be a hotel or an Airbnb, to optimize your experience. Once you have the groundwork done, you’ll have a better idea of how your trip will go and be able to focus on the fun stuff when the time comes!
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