A Story of Money and Love ~

After a speaking engagement on money and personal finance, I was approached by a small group from the audience. The ring leader wanted to argue that people only need love; That money isn’t important. I listened and explained that I could be wrong, so let’s do an experiment. I asked the ring leader to give me her purse and for the next 24 hours she could live on love. We would all meet her back in this exact spot, this time tomorrow, and she could report back on living on love. Now, not surprising, she didn’t take me up on the offer. I knew she wouldn’t. Why? Because you can’t wipe you’re a$$ with love. Nope, you’re going to want toilet paper, and toilet paper costs money. The things that keep us alive cost money. The things that enhance our lives cost money.

 I don’t advocate the love of money for money sake. No, no, no. I do advocate that each person know what they value, develop skills to successfully handle their money, and be in integrity with their values regarding their money. Think choice and responsibility.

 Money is neither good nor bad. Money is simply a means of exchange between human beings.

So because I love you, I am going to give it to you straight.

 Money and Love from Your Open Gate:

 Fact 1:  Handling money and personal finances is a part of the human experience.

 Fact 2:  The majority of people have either not been taught how to handle money and finances in a healthy way or just don’t want to.

 Fact 3:  By not integrating this key component into their life in a healthy way, people create struggle.

 Why not create a Financially Fantastic Life instead?

From Boomers to Millenials, the steps are simple:

 $ Have a budget and stick to it

$ No consumer debt

$ If you have consumer debt ~ Pay it off! ASAP!!

$ Have an emergency fund ~ Take your monthly expense * 6

$ Your emergency fund is for emergencies ~ Don’t spend it on stuff, vacation, etc., don’t invest it. It just sits there in a simple savings account waiting. And when something happens, and stuff always happens, you will be oh-so-happy that it is. You will love having that money there waiting for you!

$ Remember, for consumer stuff, if you can’t pay cash for it, you can’t afford it

$ Save a little something of everything you make. Start with 10% and work up to 15%, 20%

$ Think long-term

$ Know what you value and stick to it

 Money and Love: Start where you are today, take small steps and keep going.

Here is a great article from Fidelity about Money and Love:

 
Fidelity ~ Valentine Day Talk