As the new year approaches, I've started to re-assess all of my finances. I approach this with the intention to improve my money management. This includes: savings, college fund, household budget, expenses, and discretionary income for hobbies and entertainment. I plan to bring in 2016 with this goal high on my list of priorities.
I earn my living working for a large financial institution. It's not uncommon to attend webinars or workshops on finances. Although I work in ISD (Information Systems Department) within the company, it still makes sense to be educated in the world of money, right? Well, our company sure thinks it's important. So much so, that they hosted a webinar event (for women) to empower us.
"Empowering You to Live Well Financially", the name of the webinar, was compacted with valuable information on finance. Led by speakers, Kathy Murthy and Jean Chatzky, they each shared their knowledge and their transition to becoming empowered, enabling them to make the important financial decisions/changes that changed the trajectory of their lives.
The overarching message was Women Gaining Financial Power. Summarized in four parts, I found my take-away in the third part. But before I move on, let me share the four parts in getting empowered to live well financially:
- Gain financial power - action steps to gain control over your finances
- Overcoming obstacles - pushing out your old way of looking at money
- *Follow 5 habits - action steps put into practice frequently and consistently
- What to do at any stage to get on track - guide as you approach each stage in your career (start | mid-career | retirement)
As I mentioned, my big take away was, "Following 5 habits." I feel these habits will drive all else. As a result, I wanted to share them with you:
- Spend less than you earn
- Savings - make it a priority (#1)
- Investing - make is a priority (#2)
- Protect what you've built (ex. insurance, property estate tax, etc.)
- Give back in a meaningful way (share knowledge, discuss with the girls/women in your life, learn more)
I hope you find something of value that makes you feel empowered. Let's make 2016 the year we gain financial power!
Do you have any thoughts about money and your future?
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