Creating financial freedom is easier than you might think. Here are 5 simple habits that will help you get further ahead, remove money stress, and live your life by design, not by default.
Why Cultivating A Positive Relationship With Money Is The Highest Form Of Self-Care
If money were your lover, how would you describe your relationship? M. I. A., non-committal, or head over heels in love? When I lead a “Let’s Talk Money for Women Only™” workshop, I open with this question. The knee-jerk reaction for many attendees is a nervous giggle. Relationship with money? It’s an in-animate object, what are you talking about?
Results Leave Clues
If there is a gap between where you want your finances to be today and where they are, your relationship with money needs work. Ask yourself these questions:
- Does your debt balance make you nervous, or cause you to lose sleep?
- Have you asked for a raise, or if self-employed, raised your rates?
- Do you spend money on others before buying what you want and/or need?
- Can you have a money conversation without stress?
- Have you had a relationship break down because of money disagreements?
If you answered “yes” to questions 1, 3, or 5, and “no” to questions 2 or 4 you will benefit by developing a better relationship with money.
HAPPY NEW YEAR!
As we close out 2018, I’d like to ask you a question: What does the New Year mean to you? For many, the New Year represents a fresh start – a chance to hit the reset button, start something new, or maybe do something better. Some folks call this making New Year’s Resolutions. Others call it setting goals. Unfortunately, whether it is a goal or resolution, most are forgotten before February 1.
How To Succeed And Stick To Your New Year's Resolutions
Do you really want a different outcome in 2019? Then, guess what – you have to do things differently! Here are 5 simple steps you can take today to keep your New Year’s Resolutions and achieve your goals. Popular categories for New Year’s Resolutions are to improve health, finances and relationships. That is why gym memberships, and subscriptions to finance and relationship sites soar in January!
Do you know anyone with a debt problem? A colleague presented the following case regarding a young couple with a debt problem to me and asked for my input. Since debt problems come up frequently, especially with younger clients, I thought sharing their story might help someone else in a similar situation.
The Debt Problem
“I have a couple, married a year ago with a baby. She has a school loan of $80,000 and he brought in $40,000 in credit card debt. All savings of $20,000 has been depleted by baby in hospital. They both have jobs, paying a total of $75,000 and trying to get second jobs. Suggestions? I've never run into this sort of debt problem before in clients. Thanks!”
The family dynamics in this case are pretty intense. Having a baby has its own level of stress, both emotionally and financially. When you compound it with a budget already strained by debt, I can only imagine what else is going on. I am going to walk you through my process and as I do, please think about how you would advise this couple. If this was your son or daughter (and your grandchild) how would you want them guided? Unfortunately, having a debt problem is common. Before I can dive into “advice mode”, I need to do a little digging.
Five Simple Tips To Avoid The Death Tax “Is your estate plan up to date and complete?” Although I am not an attorney, this is one of the first questions I ask clients when we begin our relationship, and during a financial planning review. If your answer is “no” and you want to avoid the…