Are you a Financially Empowered Women? (422 hits)

Are you a Financially Empowered Women?

One of the most common false impressions in this society is that higher levels of income automatically translate to greater levels of prosperity. This fallacy couldn't be further from the truth. In actuality, the real truth is, the more money we make the more money we spend. In fact most people spend 10% more than they make each year.
As a financial money coach, I hear it all the time." I don't make enough money to invest; I can barely pay the bills ontime." These words are often spoken by six figure wage earners.

So what does a Financially Empowered Women look like?


12 common characteristics of a Financially Empowered Women



She says, NO to a new pair of stilettos on sale. She lives in a modest home and has built up substantial equity. She starts a college fund for her children when they are infants. She has a 401K and an IRA, and contributes the maximum amount regularly. She prepares meals instead of dining out three or four times a week. She is a risk taker and has investments in stocks, mutual funds and real estate. She saves and budgets for yearly vacations, and pays cash rather than charge it to a high interest credit card to be paid off in installments. She pays off her credit cards in full each month. The only debt she has is her mortgage and she adds extra payments to it each month. Part of her personal financial plan is to pay it off in 8 to10 years. She has an emergency fund of six to nine months set aside in a high interest money market account. She has adequate health, life, disability, and home insurance. If she is in a relationship, she is fully involved in all money management decisions and has a thorough understanding of the wealth building process.

We all want to feel empowered to make spending choices. Frequently I hear, "I deserve this new outfit, after all, I work hard for the money." This is often an excuse or justification to spend more than we make. The problem with this thinking is that it often leads to financial management confusion and a displacement of your financial goals.
Having a spending and savings plan will not take away your ability to make personal money choices; it will create clarity so you can make more informed decisions with your hard earned paycheck.
Achieving financial freedom will ultimately depend on your commitment to consistently applying financial management principles.

Do you want to build a comfortable worry free retirement?
Begin controlling your future today by initiating a sound financial plan to meet your objectives.

Posted By: sonia Sutherland-Cruz
Thursday, September 25th 2008 at 5:06PM
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