MC's Perspective
  • Home
  • Blog
  • About
  • Subscribe
  • Toolkit
  • Groups
    • Group Insights
    • Group Intake

Five hard lessons I learned about Money

30/11/2021

0 Comments

 
Picture
Talking about finances has become something I really enjoy doing. It used to be an extremely uncomfortable topic for me. However, I realized that we can only do better when we start having honest conversations about money. In our quest to accomplish financial independence, there are a lot of great things that we can do.
 
In this blog post, we will explore the five lessons I have learned about money over the past years.
 
#1: Have a healthy relationship with money
It took me a while to realize that I did not have a healthy relationship with money. Thinking about my finances caused me a lot of fear and anxiety. I used to say that my greatest fear was being broke. These feelings dictated how I treated money in my life. I was overly conservative with spending my money and was hesitant to make bold money moves like investing my money.
 
Strategies to consider
  • Reflect on your relationship with money
  • Identify the decisions you are making based on negative feelings around money

Resource
  • Your relationship with Money
  • Taking charge of your finances
 
#2: Save your money
Growing my savings was one of the first lessons I learned on my path to financial independence. I knew that I had to be disciplined about saving my money to get out of my constant lack. I started with saving a small amount and increased over time. Being able to achieve my saving goals has helped me become financially independent.
 
Strategies to consider
  • Set your saving goals
  • Create an emergency fund
 
Resource
  • Good money habits
  • How to grow your Savings
 
#3: Spend money on the right things
For the longest time, I held onto my money and did not want to spend it. Over the last few years, I have learned that I need to spend my money on things that make me comfortable, help me grow and live a great life. It took me a while to learn this valuable lesson.
 
Strategies to consider
  • Identify the things you want to invest in for your growth
  • Invest in yourself and things that grow your money
 
Resources
  • 5 things for yourself that are worth spending money on
  • My experience making difficult Financial Decisions
 
#4: Learn about finances and grow your knowledge
There is a lot we can all learn about finances. I had to seek out information about finances as I started making my decisions when I moved to Germany. Talking about money was not an open topic when I was growing up. Many people that I speak to also share similar experiences as well. I have prioritized educating myself and learning about financial strategies that are new to me.
 
 Strategies to consider
  • Identify an area of your finances that you want to learn about
  • Seek out ways to learn more
 
Resource
  • Build your Toolkit: Achieving Financial Wellbeing
  • What I am doing differently with my money in 2021
 
#5: Know your status and set financial goals
At any given time, it is particularly important to know what your financial status is. Knowing your income, debt, expenses, and other aspects of your finances is the minimum. It might feel scary to take stock of your status. However, having clarity will help give you some peace. Once you know where you stand today, it will be easier to plan for the future. As part of your goal-setting process, ensure you have your financial goals as well.
 
 Strategies to consider
  • Take stock of where you are financially today
  • Set your financial goals
 
Resource
  • What is on your financial vision board?
  • Start your financial planning - six simple steps
 
Final Thoughts
To accomplish financial independence and growth, we need to be very intentional. The great news is that we have the power to achieve our financial goals.
 
Time for Reflection
  • Do you know your financial status?
  • What lessons have you learned about finances recently?
  • What is one big financial goal that you want to accomplish in 2022?
0 Comments

Your comment will be posted after it is approved.


Leave a Reply.

    Picture

    Author

    Marie-Christin Anthony
    -Learning and sharing

      GET the monthly newsletter

    Subscribe to Newsletter

    Categories

    All
    Events
    General
    Her Career
    Her Finances
    Her Growth
    Her Plan
    Her Relocation
    Her Story
    Her Toolkit

    Archives

    January 2023
    December 2022
    November 2022
    October 2022
    September 2022
    August 2022
    July 2022
    June 2022
    May 2022
    April 2022
    March 2022
    February 2022
    January 2022
    December 2021
    November 2021
    October 2021
    September 2021
    August 2021
    July 2021
    June 2021
    May 2021
    April 2021
    March 2021
    February 2021
    October 2020
    September 2020
    August 2020
    July 2020
    June 2020
    May 2020
    April 2020
    March 2020
    February 2020
    January 2020
    December 2019
    November 2019
    October 2019
    September 2019
    August 2019
    July 2019
    June 2019
    May 2019
    April 2019
    March 2019
    February 2019
    January 2019
    December 2018
    November 2018
    October 2018
    September 2018
    August 2018
    July 2018
    June 2018
    May 2018
    April 2018
    March 2018
    February 2018
    January 2018

    RSS Feed

    JOIN THE LIST

Subscribe to Newsletter
  • Home
  • Blog
  • About
  • Subscribe
  • Toolkit
  • Groups
    • Group Insights
    • Group Intake