Make a Date with your Money.

Have you noticed how shocked and surprised folks appear to be when someone takes the time (generally on a financial planning show, or financial segment on a talk show) to total up their income, expenses and debts. It’s like they are meeting their money, or lack of money for the first time. I am sure you are very familiar with your money, but if you are not, its time for you get re-acquainted. Your money is one of those things that will completely turn on you if you ignore it.

Your money tries to connect with you each day, begging you to open up those envelopes that show up from the credit card companies, the loan companies, the brokerage houses, those money love letters telling you how it’s doing. Ignore them at your peril.

One way to stay on good terms with your money is to set up a standing date. Decide to meet every week for a couple of hours, maybe on a Saturday morning. This time together will allow you to get the inside scoop on your money. You do want to have a long and loving relationship, don’t you?

Oh yes we all know the cursory information about our money, but have we ever gone past the superficial level?

There is a lot to find out.
How much money do I really make?

How much money do I owe?

How much money have I saved? Am I keeping enough?

How much money am I spending on a daily or weekly basis?

What am I spending it on?

Where are the holes in my money bucket? What’s leaking out?

What sort of investments do I actually have?

Are they the right sort of investments for me and my long-term or retirement goals?

Is my money really working for me? Am I allowing it to be all that it can be?

Will my money be there for me when I am old and grey? Will there be enough?

All of these answers will come spilling out, as your dates progress.

During your dates sometimes you will need to take notes, implement programs, all to make sure that you are getting the correct picture of your money.

I’ll offer some things you may want to bring on your dates, or some activities that both of you will enjoy engaging in.

On the
first date – your goal is to determine just how much income comes in each month, and just how much you owe in credit cards and loans.

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"No matter who you are, making informed decisions about what you do with your money, will help build a more stable financial future for you and your family." Alan Greenspan