As women we should have a better handle on money management habits but instead we have a better handle on the excuses that we use. It is time to eliminate the excuses and recreate new patterns that are life changing.
Here are 5 excuses and some suggestions on how to break them to start your financial stability for the upcoming year:
1. I don’t understand finance – if you really don’t understand finance then take some initiative and learn. It is almost 2015 and women are no longer in the dark ages; we are out in the forefront and on the front lines, so don’t be afraid to ask for help and to ask questions.
2. I don’t have enough money – this may be an actual fact of your life, you may not make “enough” money to save but only you have the power to change your situation. Figure out how by; negotiating for a raise, find a better position, work more hours, or establish a business on the side doing something you love.
3. I have to pay off my debt first – yes you need to pay off your debt but don’t let that be the only financial priority that gets your attention. If you are 30 and under now is the time to start saving. You can repay your debt but put at least 10% aside for your savings too. It’s okay to work towards more than one financial goal at a time.
4. I can always save later – This is a misconception because that is not always true you may not get a chance to save later. If you start early enough you can make smaller monthly contributions towards your nest egg than playing catch up. Let compound interest do the heavy lifting for you.
5. I don’t have enough to save and buy what I want – Prioritize your spending, the biggest spending you do should be the money you put in your savings; pay yourself first and then use what’s left over to purchase what you want. Saving for your future is the biggest need you will ever have and should be your first priority.
Want to learn more about becoming financially stable? If so contact me today.
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Mavis Kelley, CHHC, AADP is a Certified Integrative Health and Wellness Life Coach specializing in nutrition, health, well-being, fitness and lifestyle design. For more information or to schedule a breakthrough session, please contact her at: Mavis@nspirehealthyliving.net or visit her website at: http://NspireHealthyLiving.com.
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