Finance$ with a Female Focu$ "it’s NEVER just about money!” Brought to You by money management Counselors/FI$C a non-profit Serving door & Kewaunee counties since 1994 |
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Greetings to some awesome women! Newsletter #12 Pinch me, but did we just jump from putting away the Holiday Decorations to Summer in a blink of any eye? It seems only yesterday we started this year looking past the money and walking ourselves backwards to the root of the issues that money always seems to be on the tail of. Which makes me question is money “the tail wagging the dog” of life? Hmm, we’ll save that for another month. Anyway, here we are in June and we have barely scratched the surface of our journey. So this month we are going to dive right into our parents. I saw that eye roll; they are not necessarily the scape goats for all things wrong in our lives or are they? You’ll need to read further to find out. This month we hope to offer an opportunity for you to gain a lot of insight on those parent relationships. We hope this month’s newsletter brings reflection, a fresh perspective and an opportunity for personal growth and much conversation. Happy Reading and Happy Summer everyone! Until next time, always remember “the choices are always yours to make…because it’s never JUST about money.” |
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Your financial family tree: What our parents teach us about money written by J.D. Roth "I write often about our money blueprints, the set of subconscious “scripts” that define our behaviors and attitudes toward money. Society at large — our friends, co-workers, the mass media — plays a role in writing these scripts, but most of our money blueprints are inherited from our family — especially our parents. In a way, it's as if our money blueprints are a product of our financial family trees. Our grandparents passed their feelings about money to their children, and these children instilled their habits and attitudes into us. When I look at my own relationship with money, it's easy to see how my present actions and attitudes — even at nearly fifty years old! — were inherited from my parents. " Excerpt from Article | | |
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Science Says You Really Can Blame Your Parents For Your Bad Money Habits By Molly Triffin “Our research shows that the money patterns we observe in childhood are the primary source driving our financial decision-making later in life,” says Edward Horwitz, Ph.D., CFP®, associate professor behavioral finance at Creighton University Heider College of Business. This childhood imprint of how to deal with money cuts both ways. If you have solid financial habits—spending within your means, for example, or nipping small debts in the bud—you may be able to attribute this to smart money lessons picked up from your parents. If you tend to make fiscal mistakes, however, or stick your head in the sand to avoid budgeting and bank statements, mom and dad may be the reason. "-A quote from the article | | |
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Suggested Readings In selecting our books we want to focus on our 2019 theme of our Emotional Journey with Money. Since our money issues and/or habits are directly linked to our emotional wellness. We hope our couple of book selections will serve as good reads to help you establish your own foundation to take on your Emotional Journey with Money. |
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Make Peace with Money: Redefine Your Relationship with Money, Master Your Personal Finances, and Discover True Wealth Written by certified financial coach Lorna McLeod, will help you do just that. In her younger years, Lorna experienced a number of financial difficulties herself. She assumed, like many of us do, that she was doomed because she was bad with money. But the truth was actually simpler: She’d never learned money management skills. Inside this book, you’ll learn:Common financial misconceptions that lead even the wealthy astray ...Whether or not you’re currently at war with money. How self-limiting beliefs sabotage your efforts and keep you in a state of anxiety. How to move from a state of insufficiency to one of sufficiency. The benefits of discovering your purpose and how it relates to your money. How to choose ease over struggle … even when it doesn’t seem possible. How to carry your new-found peace with money out into the world and make a real difference. (Amazon) | | |
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Protecting Your Parents' Money: The Essential Guide to Helping Mom and Dad Navigate the Finances of Retirement Wall Street Journal “Love and Money” columnist Jeff D. Opdyke offers a compassionate and highly effective handbook designed to help elderly parents manage their money. Protecting Your Parents’ Money is the essential guide to helping Mom and Dad navigate the finances of retirement, covering such topics as understanding Medicare, preventing elder fraud, and the hunt for a quality, affordable retirement home. Protecting Your Parents’ Money is a book everyone should own, as members of the Baby Boomer generation find themselves dealing with the many financial problems surrounding aging parents, and face their own future as seniors. (Amazon) | | |
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Can I Break Free From My Parents' Financial Mistakes? By Trent Hamm "The way your parents handled their money is going to affect the way that you handle yours and not always in the ways that you think. It is important to realize that your parents’ mistakes do not have to be your own. Additionally, unless you are careful, you may not benefit from the successful way that your parents managed their money while you were growing up. It is important to take time to really think about how to handle your money and how your family history affects you. "-A quote from the article | | |
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How to break your bad financial habits in 2019 By Michelle Singletary "I meet a lot of people who have spent years making a financial mess of their lives. They come to me deep in debt. They often have little money saved. Their retirement portfolios — if they have one — are so low that they better hope they stay healthy enough to work into their 70s. What strikes me most about these folks is their deep regret for not knowing better. " Excerpt from article. | | |
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52 Week Money Challenge By Money Management Counselors The 52 Week Money Challenge is an incremental savings plan that will help you save money throughout the year.The concept is simple: start the year off by saving a dollar the first week, and then put away an additional dollar each week after that. At the end of 52 weeks, you'll save $1,378! | | |
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Door County ADRC Aging Mastery Financial Fitness Class June 11th, 2019 10:00am located at the ADRC in Sturgeon Bay |
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