4 Tips for Women to Face Financial Planning Without Fear

4 Tips for Women to Face Financial Planning Without Fear

Whether you’re in your teens or nearing retirement, it’s never the wrong time to start taking control of your financial future. Of course, the sooner you start, the better off you’ll be later in life. Just realize this: If you don’t take control now, your finances will always control you. Facing your financial planning with fear will only leave you in situations where you’re right to be afraid.

It’s time to embrace your financial future—to figure things out now so that you can rest easy later. Ready to face your fears? Let’s go.

Learn Your Money Personality

Everyone addresses money issues differently. That doesn’t mean your specific money personality is wrong—it just means you have unique strengths and weaknesses. Knowing whether you’re a Champ, Tortoise, or Whirlybird gives you a head start on what you’ll need for your financial planning.

Knowing your money personality also helps you to work together with your partner and the rest of your family so that your strengths and weaknesses can balance each other. Working together for a stronger, healthier financial future is something all families should get behind.

Find Your Independence

Working with your spouse or partner to achieve financial freedom is a fantastic idea, but don’t forget to work toward your financial independence, too. No one can know what tomorrow will bring. If your financial health is too tied to your partner’s, you could end up back at square one in the event of a death, divorce, or health emergency.

It’s great to make plans together, especially as you’re starting out. However, be sure to update your financial plans as you get older so that you can prepare for anything that life might throw your way. This includes your own retirement fund, adequate life and health insurance, emergency funds, and up-to-date wills.

Rip Off the Band-Aid

Once you start digging into your finances, you may discover several issues that are painful to face. Do you have a bankruptcy or foreclosure in your past that affects your credit score? Are your credit cards maxed out? Did you do a bit of comfort shopping and leave yourself short on bills a few times this year?

Whatever it is you don’t want to face—now is the time to face it head-on. Without fearless attention to these items, you could end up burying yourself under a mountain of debt with no way out. You deserve more than that! You deserve freedom and independence from money fears.

Money Is Fun

Sure, money is a necessity to get through life. That fact alone can cause people to face financial planning with dread. How can you have fun if you’re too busy figuring out mortgages, savings accounts, and life insurance plans?

The truth is, you might need money to pay for the necessities, but you also need it for fun. If you approach your finances with the right attitude—and without fear—you can plan for both the necessary and the shopping. The retirement fund and the vacations!

To make money fun, set goals for yourself and be sure to get a reward when you reach certain achievements. If you save up $10,000, then splurge on those shoes you’ve been eyeing. If you pay off a credit card, go out for a delicious meal with your loved ones. You’ll see very soon that reaching financial goals equates to fun, and that will be your driving force.

Of course, we’re always here to help you, whatever stage you’re in with your financial planning. We want you to know that money can be fun, and we’ll work hard to help you reach a place where you believe it, too. Ready to get started?