Setting up your financial survival kit!

Have you ever worried about your financial future in your relationship?

Have you put all of your trust in another … your partner, your husband, your wife, your anticipated inheritance, your financial advisor or the economy?

Have you put your trust into waiting for the white knight to ride in on his horse and drop a big bag of money in your lap … or men; that you will find a rich woman who will be the goddess of your fantasies and save you unto eternity?

We can all assume that we will be taken care of, until we come face to face with the shock of our personal situation … stunned by the reality of how much we don’t know.

No one is going to care more about your finances than you do

Not having a handle on your finances means you can never really live life on your terms. I’ve learned the hard way by putting my trust in financial advisors and ‘well meaning’ mentors who were super interested in lining their own pockets! It wasn’t until I got really serious about controlling my financial future and finally setting my financial freedom date, that it was game on! Turning 50 was the catalyst.

What’s the cost of not being financially self reliant?

Getting myself back on my feet after the 1987 stockmarket crash was one thing. Setting a financial freedom date was another. Leaving your finances to someone else is a recipe you could come to regret. Having a lack of knowledge and not educating yourself can put you in a vulnerable position. The reality of being confronted with financially devastating circumstances that weren’t planned, can come as an extraordinary blow to living your Ultimate Champagne Life. In Australia, just yesterday, a transport company announced the loss of 1,000 jobs! Suffering an unexpected job loss or finding yourself navigating a divorce, a partner’s unexpected serious illness, a parent’s debilitating illness such as dementia, or a family member’s sudden passing … they are just some of the circumstances we could find ourselves in, which weren’t part of the plan.

I had a cup of coffee with a friend earlier this week and returned to find $1,000 worth of damage had been done to my car; a dent down the passenger side with a series of massive scratches and several lines of white paint … and no note!  There will always be circumstances that aren’t part of the plan!

Putting your financial survival kit in place will put you back in charge of your life … you will be on the road from survival to ‘thrival’!

3 simple steps … from survival to ‘thrival’ with your finances!

• 1. Accept the past and let it go – it’s time to get serious about your financial future. If you are someone like me, whose eyes glaze over the moment someone starts spouting out loads of numbers and financial terminology, stop right there. Getting overwhelmed by so much information and not knowing where to start can be a justification for not taking action. Don’t let that stop you. Procrastination is just an avoidance of risk. Before you move forward with any advice, check  the ‘13 savvy investment questions to ask before you hand over your money.’  (You’ll find them in Chapter 5 of Champagne Life on a Beer Budget).

• 2. Take stock and take control – take charge of your financial life! It’s a constant work in progress, so turning a blind eye to your financial health won’t resolve anything. With every new choice, you’ll be clearing another layer of the financial fog. I meet women at the gym who are completely oblivious to what’s happening with their family finances. They just leave it all to their husbands! It’s so important to take charge now and get serious about your financial future. Move forward one step at a time, along the path to self reliance.

• 3. Get organised with your financial ‘thrival kit’! – calculate your net worth, – plant your money tree, – create a sustainable shopping plan, – take action with increasing your ability to earn, – increase your savings, – educate yourself to invest wisely for your retirement and set your financial freedom date. Protect your wealth and plan your legacy.

Shared by Maree Wrack

www.champagnelifebeerbudget.com