Are you waiting for a crisis?

Too often women wait for a crisis before they will become smart about money?

“A crisis, by definition, is a quick and sudden change marked by instability and chaos. Put another way, a crisis is an event that feels as if the universe is trying to shake you into action. And sadly, it often does take a crisis to wake women up and get them moving – anything from divorce or the death of a spouse to a staggering tax bill, or winning the lottery (Yes even windfalls create crises).” –Barbara Stanny Prince Charming Isn’t Coming

As a Financial Advisor for Women, I have seen this all too often. Women are often referred to me in the throes of divorce, or are emotionally grieving due to the loss of a loved one. At times like these, every financial decision can have a serious long term impact on your financial future. While understanding your financial life is essential, especially during these times of crisis ,this is NOT the ideal time to become engaged.

I encourage every woman to take that first step. That step is simply to become more aware and knowledgeable as to what you have and how it can work for you.

The Prince Charming Myth

“Dispelling the myth that someday our prince will come is the most important financial decision we will ever make” – Barbara Stanny Prince Charming isn’t Coming

 

Unfortunately, this is a decision that countless women have yet to reach. In a survey of 23,000 women, the majority grew up with the expectation that someone else, usually a man, would do the financial planning in their lives. However, when women discover they like taking charge, they feel more secure and self-confident when they understand what is going on behind the scenes and know enough to make informed financial decisions.

A Positive Outlook on Your Finances

“Don’t cry about money. It never cries for you.” – Kevin O’Leary

You must have a positive outlook about your finances. You control your money, not the other way around. Never cry over something that YOU control. We all value money, but the emotional attachment to it can interfere with our choices. When something goes wrong, think of solutions to the problem. Never allow your emotions to render you powerless.