Money is Your New Spouse ~ 3 Ways to Have a Love Affair With Your money
Planning comes as second nature to women.
From the time you're a little girl, you plan your career, wedding, who you want to marry, what kind of house you want to live in, how many kids you want and even what the kids will look like.
On the flip side, making provisions for long-term financial security is usually not in all those plans you've made.
If you did not pay attention to how you spent and began saving from a young age don't worry it's never too late to start.
According to The Huffington Post, 51% of American women live without a spouse.
That means you have to plan for a future where you may be the only person you can depend on. In this new future, your money is your new spouse.
Through sickness and in health till death do you part, your finances is who needs your love.
Like any other relationship, you have to put in the work to make the best of it and make it last.
A long and fruitful courtship with your finances is ahead, starting with these 3 steps:
-1) Pay Attention - What you give your attention to grows
Review your retirement and investment accounts regularly.
Evaluate your wants versus needs.
Pay attention to due dates to avoid racking up late fees and piling up debt.
Set goals and create a budget.
Live within your means.
-2) Respect your money and your money will respect you
Keep track of interest rates on credit cards, mortgages, loans, etc.
Stop spending the equity on your home. It's not a piggy bank.
Pay off debt like it's an emergency.
You don't earn money just to pay bills. Use your money as a tool to make choices about what you value.
Don't be reckless with your investments; become best friends with the stock market.
Follow rule #1 for dating the stock market - Don't do anything you will regret the next morning.
-3) Develop an understanding of your finances
Understand your expenses
Understand your income
Understand your taxes
Understand your company benefits
Understand your deductibles and limits on your insurance
Keep beneficiary information up to date
Know your numbers! Know your NET Worth
- This attitude is critical if you want to attract more wealth and prosperity in your life.
Subconscious beliefs about money direct your behavior. You may have been told money is the root of all evil and you can't take it with you.
Having money doesn't buy you happiness; not having it can bring you misery.
Consider your own core values, not someone else's to establish healthy new monetary beliefs.
Understanding your true purpose in life is critical to how you manage your wealth.
Purpose opens your heart to give you clarity and focus; without it you will find your money randomly disbursed and disorganized, creating more anxiety and stress.
Make these 3 steps your new mantra if you want to reap the full benefits of this relationship.
Implement at least once a day into your daily routine for a full week to make it a habit.
Remember, putting things off until tomorrow that you can start today, won't help the cause.
Be proactive, be intentional, avoid procrastination; take actions that can help to create your best life.
Love and nurture your financial relationships, because your cash flow will be faithful and stay with you until the end.
PARIS Financial Planning specializes in providing financial planning solutions for women.
Contact us for more information about our education, management, and wealth building services.
Take the first step. Let's get acquainted. I listen and inquire about your goals, past and present experiences and family concerns.
Tell me your story and I will design a plan based on your goals, your purpose, your values and what's important to you.
Schedule your FREE 30-minute Strategy Session Today!
PARIS Financial Planning provides successful women with conservative strategies to grow their wealth during accumulation/savings years to protect their wealth during their retirement years and tax-advantaged strategies to distribute their wealth during their life and upon their death.
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