My love affair with money started with an article I had read in a German newspaper some months ago. The topic – women and old age poverty. It was such an eye opener as it described my situation to a T and it propelled me into action with such strength that I have done a 360 since then.
Until that moment my relationship with money was - what I thought - an easy one. We existed side by side, interacting on a regular basis, yet without much depth or major plan. Knowing what I know now, I realize that this relationship is vital to my wellbeing and that I need to be fully involved and committed.
So, this post is not about numbers and stats, but about taking responsibility of your money. Taking the first steps. I believe being proactive with your money will built a stronger you and will provide you with more clarity, confidence and control of your life overall. To be proactive, it is important to learn as much as possible about money.
It starts with you
🌱 ask questions, tons of them to a great variety of experts, family and friends.
🌱 truly take responsibility of your own finances and don’t wait for somebody else to do it.
🌱 explore and expand your beliefs around money – you might be surprised at what they are.
These are of course just the first steps to get started with, with many more to follow. Ready to do more? Discover your net worth and get an overview of what you have. Often this is where many women get stuck because of a fear what they might discover. Remember the mindset I talked about – this is where it comes in. Do a little detective work and find out what your beliefs are and why you might be afraid.
A great eye opener is also reviewing your cash flow. Simply put – what comes into your bucket and what goes out. I love this exercise, because it is not just about money – it also allows you to understand your spending habits. Subscriptions you can cancel, one too many insurances. A great way to do some house cleaning.
Now the fun part comes – asking yourself what your life goals are. What are your dreams? Short term – long term? Get very specific, write them down. Identifying and prioritizing your goals will act as a motivator to dig further into your financial details. It is also a start to creating a plan that you can turn your dreams into a reality.
Now many months into this journey I can say that it is bringing me much joy and strength. I am also convinced that it’s a matter of necessity for women to take responsibility of their finances. Taking charge of your money means you are taking care of yourself and charge of your life. So, go ahead and make a difference in your life!