Sunday, July 19, 2009

Was I intimidated by money?

Was I intimidated by money? Absolutely! I held this belief that I could never manage money because the terms used to describe money and money management were difficult. It was like a foreign language to me. I didn't have any experience with money and I was scared of it. I was scared of all of those money related terms that I didn't know and I felt that people who knew about money didn't have the time of day to explain it to me. Ultimately, I had to overcome those unhelpful beliefs to get financially literate and get out of debt. It just takes time and seeking the answers to your money related questions.

Did I think I am smart enough to learn about money and finance? Back then I wasn't sure. I felt that I needed a finance degree to understand money. This is one big myth. The guys on Wall Street are no better than you! They just spent the time learning about money and made different career choices. Also, as a woman I held a belief that money was a man's job and should be left up to a man. Oh my gosh, that is just an outdated belief and ladies you should be in full control of your money and learn about money. I am dealing with my mother right now who hasn't a clue about money now that my dad is gone. Please, please, please ladies don't let this happen to you. You are smart enough to learn about money! I wish that everyone learned about money is school. If everyone knew about money and money management I think that there would be less debt and less divorces over money. But that is my opinion because I have seen the suffering first hand in my own life and lives of family and friends.

Action Items:

1. What do you do with loose change?

2. How are you paying off your debt? What income are you using (main job, extra income, savings, investments, moonlighting etc.)

Best wishes,


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