The Healthy Wallet
Improving the financial health of society
www.TheHealthyWallet.com
Do you control money, or does it control you?
Hello everyone, thanks for stopping by The Healthy Wallet’s blog. I’m someone who was born without the “saver” gene (just like 98% of us!). I’ve spent years living pay to pay, always with good intentions, but never feeling like I was getting ahead. As my salary grew, so did my financial obligations… nagging credit card debt, lines of credit, and student debt. My credit score was decent, but I was always a bit stretched. Intellectually, I knew what to do. Spend less, save more, be smarter with money and invest. I read several books on the subject. I would do well for a while, and then I’d be back where I started. It was like trying to lose the same 20 lbs. over, and over, and over again! I often scratched my head at what I was doing wrong; I mean, I rarely frequented expensive restaurants, my social expenses were reasonable, I wasn’t a clothes hound (but I did buy stuff), I had a limited selection of footwear, and I often brought my lunch to work. Isn’t that how we get spending under control? Well, it just wasn’t enough. And while I was making the payments, it seemed like I carried debt around on my shoulders like Atlas. The more I earned, the more debt I had. Revolving credit, like credit cards and lines of credit, was my downfall. My dreams always seemed out of reach. There had to be a better way!
So, not only did I go in search of the “tools” to complete my money success toolkit, but I also realized that I had to plug the hole in my toolbox. First, I stopped blaming everyone else for my lack of financial education, and took responsibility. I’m the one who got me into this mess, and I am the one who will dig myself out of it. Of course, all of this would have been easier if I were taught better money habits at an early age. But, few parents, teachers and mentor have that knowledge to offer. A-ha! Therein lies the problem. At school, we are taught skills to earn an income (usually at a j-o-b), but not the skills to manage that income. After all, it’s not what you earn, it’s what you keep.
Well, I choose to look ahead, not in a rear view mirror, and decided that I’ll work on myself first, and then reach out to help others, both young and old. And helping others is why I created The Healthy Wallet.
Keep in mind, fixing money challenges is not like fixing a leaky faucet (even though it feels like your money is dripping away!). Whereas a leaky faucet can be often repaired in one try, improving one’s money skills is a lifelong pursuit… and it can be a tough program to stick to for people who have struggled a long time or have deep emotional issues with money. I have spent — and continue to spend — time working on myself daily. I pat myself on the back when I do well and learn about myself when I slip up (but, I don’t dwell on it or berate myself). It’s just like someone having finally lost those 20 lbs., making conscious choices every day to keep them off through proper eating habits and exercise. You might have a night of overindulgence, but the goal is to get right back in the saddle the very next day.
My passion is to improve the financial knowledge of society. More specifically, I want to help trigger the wave of change pertaining to people’s lack of basic financial knowledge. After all, not only would we as people would be much happier if our financial houses were in order, but our economies would be stronger for it too. Instead of being slaves to money, our money will work for us. This applies to everyone regardless of financial goals, whether the goal is to be a multi-millionaire, or just wanting to feel financially secure and sleep soundly at night.
So, I’ll be sharing my trials, my shortcomings and the lessons I have learned when overcoming the obstacles. My focus is the three dimensions of money: earning/receiving, spending/managing, and saving/investing. So, why are all three important? Think of it as a three-legged table; if one of the three legs is weak or non-existent, the other two can’t adequately support the table.
Want to know more about how to eliminate your money worries? Stop fighting with your spouse about money? Stop sweating when the credit card bill arrives? Then go to my Money Mastery For Life page and get ready to gain some peace of mind regarding finances… for once and for all!
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Contact: ma[at]money-mastery-for-life.com
While I live in Toronto (Ontario), Canada, much of what I write about applies equally in the US, Australia, Germany, Italy, England and other parts of the world. We have much more in common than we think. So, let’s work together to raise our collective financial IQ.
Have a prosperous day! – Marla Anne
Marla Anne at The Healthy Wallet
