MONEY: Learning, saving, investing. How can we understand more? Start with No More Shame!
It’s time to start asking some questions, ladies!
Tell me how you feel about this.
I, for one, can not stand when someone else knows more about my money than I do. I commit to not be embarrassed to ask questions about MY MONEY any more.
Yes, its true. I don’t like owing anyone any money. I don’t like to have any debt of any kind.
If we go out to dinner and you pay my portion of the bill and I am to pay you back? Within 24 hours you are paid in full.
I don’t like paying the bank any sort of interest. I don’t even like owing money on my mortgage because I literally want to be totally debt free!! Yes, I understand that some don’t consider this to be a debt as its also usually your largest asset but I HATE paying interest! #debtfreeby55
I don’t want to OWE anyone anything and I want to have a perfectly free conscience to live my life in the fashion that I want to, do what I want, travel when I want, work when I want, be generous with whom I want, invest in what I want.
How much do you know about you or your families finances? I mean, how “competent” or “aware” do you feel you are around this topic?
You have personal bank accounts to pay your personal bills. Do you read these statements when they come in to see if all the transactions are in fact yours? Do you see where you are spending your money? Sometimes this can be alarming. Trust me, I know. I always thought we ate so healthy and we “never go out to eat”. Yeah, right. Black and white. On the paper. Statements don’t lie to me. I lie to me! HA!
Credit card statements. Do you know what kinds of interest rates you are paying on your outstanding balances? Do you know what kinds of annual fees you are paying on your cards? Do you know what kinds of “benefits” you have available to you if you have any sort of mileage or points programs? Are you using them?!?
Business statements. Do you look to see where you are spending money in your business every month? Membership fees? Websites, domain names, photo editing sites, database programs, all of it? Are people paying your invoices on time? Are you paying your invoices on time?
Mortgage payments. Have you ever considered paying more on your mortgage every month in order to buy down your balance even quicker? Depending on what kind of a mortgage you have, this might be an option for you and any additional payments you make over what you must pay every month can be applied directly to principal. Now THAT’s just smart… paying the bank less? Hell yes!
When the investment + retirement statements arrive every month (or quarter) do you open them and read over them (alone or with your partner) to ensure that your money is invested in the ‘right’ places? Do you see for yourself whether your portfolio is set up to invest in companies or funds that you actually believe in? Ethically aligned with you and your values?
If you have an investment advisor, how much are you paying them for their services every month? Is it monthly or is it per transaction? Look at what you are earning every year vs. what you are paying them every year… knowledge is power.
Right now you might be choosing to hide from your investment/retirement statements with worry that your money is all gone. I get it. I totally get it! It might appear that way, but STAY THE COURSE! Have you heard of dollar cost averaging?
I want to start conversations around all of these topics with you every week. Talk about something new every week. Are you interested in hearing more on these topics? Maybe I will be interviewing people, maybe I can speak to local and international business women who work in investing their own money and we can learn from them how to ask the right questions. I KNOW I WANT TO LEARN MORE! DO YOU?
I am not an investment specialist nor a genius when it comes to savings. I simply want to learn more and be more aware. I want to open my mind to what sort of MONEY OPTIONS are available to me and US so that we can make educated decisions.
Burying my head in the sand doesn’t interest me. Learning more and taking action does.
Are you interested?