I get asked most of the time how can I start to be more active with my money. Sometimes it is a wife asking how she can get more involved since her husband takes care of everything, and she has no idea where all their money is. This can be very scary, what if something happens to your husband? OR What happens if he isn’t managing the money right? You don’t want to be scratching your head trying to figure out why you thought you’d be retiring, but you just had to borrow money from your parents or declaring bankruptcy. You might think I’m exaggerating, but I’m not. I’ve seen it happen and if you don’t believe me, just do a little search.
Now the other times, the women who ask me, are on cruise control. They get paid, pay their bills, and whatever money is left, they shop with, spend on themselves, or maybe save a little. Think of it like you wake up, go to work, come home, and go to sleep. And repeat for 30 years until you can hopefully retire. You are on cruise control with your money and with your life. It’s time to get off this hamster wheel and live your life, not just go through the motions. And what will help, is taking charge of your money so you can use it to help live the life you want and deserve. Remember it’s not about making more money or saving more money, it’s about the lives you can change with that money. So I’ve come up with a money detox to get you started.
You’ve heard of a health/juice/diet detox, so why not a Money Detox? Let’s apply the same concept to make small changes with your money, which can lead to drastic changes with your life goals. Instead of removing one thing from your diet, we will add one thing a week that deals with your money.
Here are my Top 12 Money Detox steps to telling your money whose boss:
Month 1 focuses on your cash flow.
Next week, we will go through Month 2, which deals with your finances and investments.
Jessica Weaver, CFP®, CDFA™, CFS®
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