Tag Archives: money management

money management

National Bank of Arizona sponsors ThriveTime Challenge

National Bank of Arizona (NB|AZ) announced its sponsorship of the second annual ThriveTime Challenge, a statewide financial literacy initiative that aims to educate high school students about money management.

ThriveTime Challenge, founded by the 2013 NB|AZ Woman of the Year Sharon Lechter, is a tournament involving playing the award-winning ThriveTime for Teens board game. The board game was named the 2010 Creative Child Magazine Game of the Year and takes players on a financial rollercoaster where they must make crucial life decisions like buying cars and paying for college.

“We were honored to sponsor the ThriveTime Challenge for the second year in a row,” said Deborah Bateman, executive vice president and director of wealth strategies at NB|AZ. “Financial literacy is an important initiative to NB|AZ and we are pleased to support a program that encourages responsible money management beginning at a young age.”

Each participating school hosted its own single-round tournament and winners from each school progressed to a state-level competition on April 20 at Arizona State University West campus in Glendale.

The top three finalists of the state competition received scholarship dollars ranging from $2,500 to $5,000, and the home schools of each finalist received $1,000. Participation in the tournament was free for all participating schools and students.

For more information about the ThriveTime Challenge, contact Angela Totman at angela@pyff.net or visit www.thrivetimechallenge.com. For more information about National Bank of Arizona, visit www.nbarizona.com.

Sharon Lechter - headshot

NB|AZ names Lechter 2013 Woman of the Year

National Bank of Arizona (NB|AZ) announced Sharon Lechter as the winner of its fourth annual Women’s Financial Group (WFG) Woman of the Year Award. The award, designed to honor outstanding professional women throughout metropolitan Phoenix, was presented to Lechter during a ceremony last week.

Lechter is a local businesswoman, investor and financial literary activist whose philanthropic work has helped establish, educate and train professional women in the Valley. Lechter is the founder and CEO of “Pay Your Family First,” a money management program aimed to increase financial literacy among youth. She also is the co-author of “Rich Dad Poor Dad,” a financial self-help book that has sold more than 26 million copies worldwide.

“As host to the Women’s Financial Group, National Bank of Arizona continues to demonstrate its dedication to building a stronger community for us all,” Lechter said. “I am deeply honored and humbled to be chosen as the 2013 Woman of the Year and pledge my continued support of the bank’s efforts to encourage and ignite results driven collaboration among the fabulous women of Arizona.”

Woman of the Year Award finalists included Dena Patton and Stella Shanovich. Patton is the co-founder and president of “The Girls Rule Foundation,” has sat on the board of NAWBO and regularly coaches women on entrepreneurship, confidence and building business. Shanovich is a partner at Grant Thornton where she spearheaded “Women at Grant Thornton,” an in-house networking and leadership organization for professional women.

“At NB|AZ we take great pride in supporting local professional women who are making a positive impact in their communities,” said Deborah Bateman, executive vice president, director of wealth strategies of National Bank of Arizona. “We received many nominations for women qualified for this prestigious award and are honored to recognize Sharon Lechter as our 2013 Woman of the Year.”

All nominations for the Woman of the Year Award were reviewed by a selection committee comprised of industry leaders and the National Bank of Arizona Women’s Financial Group Advisory Council.

For more information about NB|AZ and the Woman of the Year award, please visit www.nbarizona.com.

Sharon Lechter - headshot

NB|AZ names Lechter 2013 Woman of the Year

National Bank of Arizona (NB|AZ) announced Sharon Lechter as the winner of its fourth annual Women’s Financial Group (WFG) Woman of the Year Award. The award, designed to honor outstanding professional women throughout metropolitan Phoenix, was presented to Lechter during a ceremony last week.

Lechter is a local businesswoman, investor and financial literary activist whose philanthropic work has helped establish, educate and train professional women in the Valley. Lechter is the founder and CEO of “Pay Your Family First,” a money management program aimed to increase financial literacy among youth. She also is the co-author of “Rich Dad Poor Dad,” a financial self-help book that has sold more than 26 million copies worldwide.

“As host to the Women’s Financial Group, National Bank of Arizona continues to demonstrate its dedication to building a stronger community for us all,” Lechter said. “I am deeply honored and humbled to be chosen as the 2013 Woman of the Year and pledge my continued support of the bank’s efforts to encourage and ignite results driven collaboration among the fabulous women of Arizona.”

Woman of the Year Award finalists included Dena Patton and Stella Shanovich. Patton is the co-founder and president of “The Girls Rule Foundation,” has sat on the board of NAWBO and regularly coaches women on entrepreneurship, confidence and building business. Shanovich is a partner at Grant Thornton where she spearheaded “Women at Grant Thornton,” an in-house networking and leadership organization for professional women.

“At NB|AZ we take great pride in supporting local professional women who are making a positive impact in their communities,” said Deborah Bateman, executive vice president, director of wealth strategies of National Bank of Arizona. “We received many nominations for women qualified for this prestigious award and are honored to recognize Sharon Lechter as our 2013 Woman of the Year.”

All nominations for the Woman of the Year Award were reviewed by a selection committee comprised of industry leaders and the National Bank of Arizona Women’s Financial Group Advisory Council.

For more information about NB|AZ and the Woman of the Year award, please visit www.nbarizona.com.

After A Long Recession, Over-Spending May Be Tempting

After A Long Recession, Over-Spending May Be Tempting, But Consumers Beware

The desires of the American consumer have changed over the last few years. This concept is not difficult to imagine since the United States has suffered it’s worst economic downturn since the Great Depression. People have been forced to appropriately distinguish the difference between needs and wants.

Prior to the recession, the American consumer was living an unsustainable lifestyle while real estate prices were escalating. People were spending money as if they had their own personal printing press. In reality they did, it was called a home equity line of credit. Excess access to money created an irrational consumer, one who boasted of the ability to customize goods, cars, clothes, jewelry, etc. Consumers got to the point where they became addicted to the process of buying something new, just because they could.

Today, most people feel the opposite; they have a new respect for money and they feel that less can be more and that frugality is the new chic. Perhaps a near-death experience, economically speaking, is just what the consumer needed in order to fully respect the tremendous responsibility of proper money management.

Unfortunately, many people have a short-term memory. They will quickly forget their valuable lessons as the economic landscape slowly improves. They will feel they sacrificed when they had to, but now that things are economically improving, they will feel they can reward themselves. As wrong as this rationale is, millions of consumers will have a sense of entitlement as we enter this holiday season.

Target, the nation’s second-largest retail chain, told the Financial Times recently that it predicts this holiday season should be its best in three years. Target bases its prediction on the enormous pent-up demand of the consumer.

Consumer spending of course is a double-edged sword. On one hand, you want consumers to spend; they represent 66 percent of the nation’s GDP. On the other hand, you want Americans to save more because it creates more economic stability.

This holiday season will be interesting to follow. My hope is that the consumer spends prudently and does not fall back into the same spending trap as before.

Jacob Gold AZ Business Magazine Sept/Oct 2010

Jacob Gold, President Of Jacob Gold & Associates

Describe your very first job.
My first job came in high school, when I worked at a retail clothing store at the Paradise Valley Mall. I learned to appreciate and respect all customers, and that they were always right.

Describe your first job in your industry.
While studying economics at Arizona State University, I realized that I wanted to follow in my grandfather’s and father’s footsteps and become a financial adviser. Fortunately, my father gave me an opportunity to begin working at his company in order to gain experience. I learned that all things of great quality come over time and you must be patient with yourself.

What were your salaries at both jobs?
I made $4.75 an hour at the clothing store and less than $15,000 my first year out of college.

Who is your biggest mentor?
My father, Bill Gold, has been the biggest mentor of my career. He taught me lessons of money management and business skills that otherwise would have taken me decades to learn on my own. He also gave me the encouragement to start my own company and to write my first book.

What advice would you give to a person entering your industry?
The responsibility of managing the investments for major corporations and individuals is not for the faint of heart, especially after the economic collapse of 2008. You must be able to analyze situations, create a strategy and then be able to effectively communicate your conclusions to others.

If you weren’t doing this, what would you be doing?
If I was not a financial adviser, I would surely be teaching economics at a college or university.

Arizona Business Magazine Sept/Oct 2010