Minding Your Money 360 - Quick tips to manage your money for success

Today on the Minute – Do Your Kids Do What You Say or What You Do?

It’s a simple question especially when we talk about money.

Today on the Minute – Do Your Kids Do What You Say or What You Do?

It’s a simple question especially when we talk about money. It’s no secret that to this day, they don’t teach kids about money in school.  I don’t understand why – why money education is not a part of the curriculum from grade one though college. No one argues it's importance to the well-being of the members of our society. Yet despite this, it's not found in most schools at any level so that means (parents) that the ball is in your court.

Take a moment and think about your kids – you were once one. What did you do? Did you do what your parents said, did you rebel and do opposite or did you find yourself doing what they did? In either case, it’s now up to you to be a role model – to understand and at least practice the basics so that if they are watching they have something good to model. If you don’t know the basics, this is not the time for excuses. At a minimum, visit my website at PSWORTH.com and sign up for the Minding Your Money Movement so you can get a weekly dose of the basics. And, if you really want to get on top of things quickly – take a class, read books and take action to put your skills to the test. The time for sitting on the sidelines and ignoring your money or blaming others has passed. If you’re a parent or you have kids that look up to you – it’s time to get your financial game together cuz you can bet, kids are watching.

And, that’s the minute for today. You know I love helping people with all aspects of their money. Check out my website at www.psworth.com and visit the home page to learn more.

Thanks for listening and as always remember that minding your money really is the path to a richer life!

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It’s Friday and time for the Word of the Week! Our word this week is Celebrate.

I chose celebrate because it’s the one thing I always advise people to do when they reach a goal.

It’s Friday and time for the Word of the Week! Our word this week is Celebrate.

I chose celebrate because it’s the one thing I always advise people to do when they reach a goal. I advise them to take a moment and celebrate their victory – to in essence refuel for the next leg of the journey and that’s what I’m doing today. Today I celebrate episode 500. As I look back on the minute, I don’t I could have imagined writing 500 of anything, let alone 500 episodes that have been listened to over 150,000 times – now that’s something to celebrate.

I am so truly grateful to all of you for your support and as a celebration gift to you, I have decided to extend the minute in a way. Some of you have asked for more and I have decided to write a weekly newsletter simply called Minding Your Money (MYM) for short, that will take a part of the minute and expand it – take it to the next level and give you ideas you can implement to make your money work harder for you. This newsletter will only be available by subscription and the subscription is free. To sign up for your copy go to my website www.psworth.com and sign up on the homepage. You work hard for your money, isn’t it time it started to work for you?

Our word of the week: Celebrate. I am so excited and I can’t wait for the next 500.

And, that’s the minute for today. Don’t forget to sign up for the MYM newsletter and send your questions to me at [email protected].

Thanks for listening and as always remember that minding your money really is the path to a richer life!

Today on the Minute – Does Your Net Worth Equal Your Self Worth?

Or are they two very different things? I think we all know intuitively...

Today on the Minute – Does Your Net Worth Equal Your Self Worth?

Or are they two very different things? I think we all know intuitively know that they aren’t equal each other but when things aren’t going well financially, we sometimes have a tendency to fall into this trap – the belief that we are in this spot because we somehow deserve to be there – that we are not worthy. And then the vicious cycle begins, when we feel that we aren’t enough or that we’re not good enough, then we start to fear that we will never have enough. And, that fear becomes a self-fulfilling prophecy ensuring that we will never have all that we need.

Then something happens and we break out of the cycle – but the change is only temporary because we haven’t dealt with the core problem – the belief deep down inside that are self-worth equals our net worth and the hidden attitudes and beliefs that keep it in play.

So what can you do to break this cycle? Start by really getting in touch with your money story. What’s causing you to let money or the lack thereof to rule your life, your attitudes and your values? Money is an inanimate object. It is not the ruler of your life. So stand up! Take back your power and put money in its place. As long as you let money rule you, you will stay stuck.

And, that’s the minute for today. You know your money mindset is a powerful influence on everything you do and we have coaching programs to help your work for you. Contact us at [email protected] to learn more.

Thanks for listening and as always remember that minding your money really is the path to a richer life!

Today on the minute – 3 Habits to Make Your Money Work for You in Your 60’s

You already know I’m obsessed with making money work. Being a 60 something...

Today on the minute – 3 Habits to Make Your Money Work for You in Your 60’s

You already know I’m obsessed with making money work. Being a 60 something is exciting especially if you’re prepared financially. That means that you have an emergency fund, savings set aside for retirement and you have a plan that is in place. If this isn’t true, then it’s time to play catchup. Here are 3 habits to make your money work for you when you in your 60s:

Pay off debt. If you have any lingering debt, now is the time to pay it off before you retire. For most of us, income will be less when we retire and the fewer bills you have to pay the happier you will be and your money you have saved will last longer.

Avoid taking Social Security too soon. I know the temptation is to take it as soon as possible but if you can wait, it could be worth it since your benefits grow 8% for each year you wait. For example, if you retire at age 62 in 2016, your maximum benefit would be $2,102. If you retire at age 70 in 2016, your maximum benefit would be $3,576. That’s a $1,474 difference or over $17,000 per year.

Adjust your plan and your investments. Now is the time to make any necessary changes to your plan such as moving to a different place, retiring later or earlier and re-computing the amount you will need. And, it’s time to do the same for your investments. If you have been very aggressive, consider toning it down but not too far because those funds may need to last you 20 to 30 years.

And that’s the minute for today. Think you might need some professional help. Well, don’t do it until you read my guide, “How to Find and Hire Financial Help.” Get your copy by visiting www.mindingyourmoneyminute.com and clicking on the shop tab or button.

Thanks for listening and as always remember that minding your money really is the path to a richer life!

 

Today on the minute – 3 Habits to Make Your Money Work for You in Your 40’s

But first, I want to invite you to check out the resources on our newly designed website.

We have a ton of calculators to help you with everything from savings to investments to calculating how much you need to save for retirement. So pay us a visit and click on the coaching tab and then calculators.

You already know I’m obsessed with making money work. Being a 40 somethings is a little more complicated – you don’t feel as young as you used to – more mature – but you don’t feel old either. It’s an in-between space and it’s easy to get off course. But this is a critical time in your money life and it can be the best time of your life, so here are 3 habits to make your money work for you when you in your 40s:

Develop a plan. If you don’t already have one – this is the time to get one. Figure out as much as possible what you want to do moving forward and create a plan to get you there. This may also be the time when you get some professional help.

Increase your income. Look for ways either through your current position, a side hustle or other passive income sources to bring in more money. And, as you bring in more money channel it into the places that your plan suggests.

Become a conscious spender. Resist lifestyle creep. Chances are you will have grown accustomed to a more comfortable lifestyle and you will be facing all types of temptations from every side, including where you live, your kids, your social life and entertainment. But it will be important to keep your goals in mind and if retirement is one of those, to plan appropriately.

And that’s the minute for today. I love helping people with all aspects of their financial lives. If you have a question, send it to me at [email protected].

Thanks for listening and as always remember that minding your money really is the path to a richer life!