Are you there yet?
Have you ever tried to answer rapid-fire questions about finances, ladies? It can be a way to reveal what you know inside and out, as well as the areas that you’ve still got to work on adding to your financial knowledgebase. Let’s see how quickly you can answer these financial questions:
How Much Do You Spend Per Month?
If you’re not able to quote a number off the top of your head, then it’s time to get this figure sorted out. Only by knowing how much you spend on average every month can you determine if you’re saving any money or not. As I tell women regularly, saving is the key to meeting your financial goals. Speaking of which…
What is your Newest Financial Goal?
It’s wise always to have a financial goal, such as paying off your school loans. Otherwise, you might just fall into a lifestyle of spending and saving haphazardly rather than taking control of how you use money to reach the things you really want in life.
What is Your Monthly Saving Rate?
Just like you ought to know your spend rate, ladies, you also need to know the average amount you save per month. Knowing this number can help you figure out the answer to the previous question too. If you have trouble saving any money most months, I can help you make some small and simple changes that will fix this.
How Much Is Owing on Your Credit Card?
If you’re scared to check your credit card balance, you’re never going to be able to get it to zero. Only once you know the exact amount can you make a realistic plan to reduce it. This involves getting your spending more under control (the first question above) and likely making the credit debt reduction your newest financial goal.
Before you go
Want to know your Money Type? Take the Quiz
Take the quiz and find out which money archetypes are influencing your patterns and behaviours with money.
Is it the Magician or the Warrior or is it a combination of a few others? They all play a role. Curious?
Getting to know your archetypes, harnessing their strength and working with their weaknesses will help you fast track your wealth growth.