A man is not a financial plan
Which of the three following statements is true for you?
- My man will make sure we are financially sorted for the future
- I’m living week to week with no contingency or plan in place for the future
- I have a plan for my financial future and am contributing to that now
Please know that as a coach I’m never here to judge you. But if you answered ‘yes’ to statement one or two I’m going to encourage you to consider ‘why’ you choose these options for your life.
I’ve not written a big blog for you this week, instead I’ve just summarized some key ideas and action steps for you to consider.
A man is not a sound financial plan
Society has changed. The vowels taken at marriage increasingly crumble due to numerous pressures couples and families now face. Let’s be honest, divorce rates are higher than they ever have been.
Credit is readily accessible and divorce is not often not about separating assets but about dividing debt.
Your partner could lose their job, become unwell, go through a mid life crisis and leave you or you could decide to leave them.
Even the most beautiful marriages and committed relationships can sadly come to an end.
The other end of divorce can sometimes include women keeping themselves stuck in relationships they no longer love, or are no longer healthy for them because they feel unable to financially survive independently.
Regardless of what future generations believed or how unique your individual situation, a man is not a wise financial plan and I encourage you to re-think this view… even if you are in the most loving wonderful relationship. It’s not about creating doubt or uncertainity. It’s about always making sure you and your family will be financially comfortable.
Living week to week
People increasingly live pay check to pay check with no contingency plan in place. Having been in this situation a few years ago between business start up’s this personally scares the crap out of me. Especially being a mother of five teenagers who all have various, often surprising expenses and like most families we also have mortgage.
I’m all for living in the moment but we need to start thinking beyond today.
Here are two key recommendations I’d make for all mothers and women who want to start creating their own financial certainty and plan for the future.
Taking responsibility for your financial future
Firstly, consider having some kind of insurance, even if just basic so if you become unwell you and your family will be cared for. There are a wide range of family friendly insurance brokers who can help you. I can recommend two lovely women brokers. If you get stuck send me an email, I’d love to share their details with you.
Start considering how much you need to fund your ideal future or how much you would need if you found yourself without your partners support. Start a fund today, even if just a small contribution each week and start creating a more sound financial future.
In New Zealand our employers gratefully contribute 3% to employee superannuation funds. Many countries offer similar savings incentives. Take full advantage of benefits like these if you are able to.
We don’t just land in an amazing financial situation, it’s something we purposefully create each day.
You get to choose and create your future, always.
I’d love to know what you think about this topic and ideas you can share for other readers about how you take responsibility for your financial future.
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Tina is mother to five teenagers and coach to busy women who want more happiness, balance and success in their lives. You can ask Tina questions about this article or about coaching with her [email protected] Visit www.raisingdelight.com for more information about coaching programs to suit your lifestyle.