Posts Tagged ‘financial mistakes’

postheadericon Time springs forward but what about your finances?

I tell you what readers, I was not ready for the clock change.  Mind you I had been dealing with the sneezing and coughing like so many others over the past weekend that I was not paying attention to the time. When I realized that the time had changed it was Sunday night at approximately 8pm when our daughter said she and her brother were going to do something in the Spring. I went OOOOH No. She of course said what Mom? I told her that the clocks changed and we were supposed to move them up an hour.

What have you done about your finances as you prepare for spring? Are your finances springing forward and on the path to removing financial obstacles or are staying in those same financial habits that is causing turmoil in your home, affecting your job and your health? The choice is yours. Why do I say that? Well, think about it like this as long as their is income of some sort coming into your hands, you can make better decisions today that affect your future.

You can remove financial mistakes and input sound financial principals that put you on the road to financial independence, becoming a saver and an investor. What are you waiting on? Why wouldn’t you want to be a save and an investor? It is high time to think big picture and for the future, not just short term. Please, please quit looking at your financial mistakes. Looking behind is causing so many to miss financial opportunities that are in front of them or they believe they deserve to be in debt and not out of debt. Either way, its a bleak picture.

Think about how much fun you could have this spring if you got your finances in order. Vacations! Picnics! Trips to the Beach and much more!  I tell you what I’ve already begun thinking about some extended weekend trips for the family. Why not! You can create memories like never before and have a lot of fun in the process.

Spring forward your finances are waiting on you.

postheadericon First Family Barack and Michelle Obama in the Marriage Fishbowl

I was watching CNN a few days ago when they were discussing the NY Times Reporter’s interview with The First Family regarding their marriage and it is very evident they are in what I like to call “The Marriage Fishbowl”.

The Marriage Fishbowl is clearly where everyone is watching your every move that the husband and wife make. Did he do this? Did she do that? What was the response? How do they handle this or that? Being in the marriage fishbowl will cause your marriage to be critiqued by some, praised by others, some will remain silent in wonder, there are couples that will try to live up to your representation of marriage and much more.

With Barack and Michelle Obama, clearly based on the interview facts are facts:

1) He had not lived in the home full-time since 1996. So being in the position they are in now is a good thing. Togetherness.

2) Date night is important to them. Yet it was criticized because of how he did it a year ago.

3) Family is important to them and he makes time for his wife and daughters despite being The President.

4) It was shared that there was a very stressful time in their marriage.

Life Lessons to Accept:

1) We all have a role in our marriage. When the other spouse is not there full-time, we take care of business and do what needs to be done especially when there are children involved. You do not let things fall apart.

2) Marriage takes teamwork. Communication is very important. Not arguing but talking with cool heads.

3) Wives and husbands are to support each other in their individual and mutual goals. VISION is important and know where you are going.

4) Date night is important because it gives you time to enjoy your relationship and each other.

Money was not a topic but I want to interject. Discussing money is very important and would alleviate financial mistakes. Because that too is something that is watched when you are in “The Marriage Fishbowl”.

What do you think it takes to make a marriage work? Leave your comments.

We will discuss “The Marriage Fishbowl” again.

postheadericon Asset or Liability?

I felt this needed to be shared here.

Congratulations you are with the one you love. It is safe to say you have spent a lot of time together getting to know each other. You are engaged and planning the wedding of a life time. I remember exhibiting at bridal shows and all the brides going from booth to booth with family members and friends discussing specific items. It warmed my heart as I thought about these couples preparing to open a new chapter in their life.

As you are beginning this new chapter, I would prefer that you walk down that aisle with insight versus being in the dark. Before I continue, there are some of you that might believe you are prepared and could say “I Do” right now. We are about to find out. Understand this part will be fun but there is a serious side to it. Do not discount what you write. I ask that you be honest as you answer the question.

The purpose of this exercise is to open your eyes in an area that is one of the leading causes of divorce. It is to make you truthfully look at yourself and recognize where you could need some help and be more forthcoming about your financial picture.

If you have 5 or more yes answers then you are an Asset to yourself, will be the same in your marriage and will more than likely not keep financial secrets.

If you have 5 or more no answers then you are a Liability to yourself and will be the same in your marriage if you do not take steps to become a better financially oriented person.

If you have an equal number of yes and no answers, then you are in the middle of the road. You probably would benefit from some additional unbiased guidance to ensure you enter into your marriage with a goal of financial success and not failure.

Take out a sheet of paper and number from 1 to 10. Then write Y or N beside it after you read the question.

Are You An Asset or Liability?

(1) You have talked with your fiancé about your debt? Yes or No

(2) You have always paid your bills on time? Yes or No

(3) You believe that you and your fiancé should have separate accounts once married? Yes or No

(4) You know how to talk about money during engagement? Yes or No

(5) You have managed money well as a young adult? Yes or No

(6) You are a shopper and your fiancé has no idea? Yes or No

(7) If your fiancé lost his job once married, you would stay the course? Yes or No

(8) Would you be willing to share with your fiancé what you are being paid? Yes or No

(9) You would admit to your fiancé if you had a previous bankruptcy? Yes or No

(10) If your fiancé is bringing debt to the marriage, will you still marry him? Yes or No

(11) Do you believe that financial mistakes can be forgiven? Yes or No

(12) Would you keep financial secrets from your fiancé? Yes or No

Did you wind up being an Asset or a Liability? An asset means useful or desirable thing.
When you enter into your marital relationship even in the beginning you should be an asset bringing value. Or did you wind up being a liability which means debt owed. If you are a liability, you can take positive steps to change that for yourself and your relationship.

The above questions are to help you focus on a very important part of marriage. This was an eye opener and know that The Debt CAN Stop At The Altar. This tool can help you even face the reality that you need to begin talking with your fiancé about money even if you find it painful.

Copyright ©2009 – Dr. Taffy Wagner – Permission granted to use and reproduce with proper citation.

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