Making time for money

Filed Under Tips & Tricks | May 26, 2008

Sheila Walkington

Last month in our first Mums ‘n Money column, Sheila Walkington, the money coach for Money Matters and co-founder of the Women’s Financial Learning Centre, looked at the big picture of money management. In her second column, Walkington talks making money a priority:

Many women struggle to prioritize money. And yet, if we make the time to take care of our finances, our finances will take care of us. So let’s have a quick look at why something so potentially beneficial often falls off the to-do list.

When time and energy are in short supply, we need really good reasons to spend them. And for many of us money management, as a task, isn’t very compelling.

But a slight shift in perspective can transform a dull or daunting task into an empowering act, which makes it something you can feel good about. And that makes it far more likely to get done.

Top 10 Reasons for Managing Your Money:

  1. You want freedom and getting control of your money will translate into freedom for you.
  2. You want security and well-being for your family.
  3. You want to realize a dream such as being a stay-at-home parent, starting your own business, buying your dream home…
  4. You want to work less and have more family time. It’s possible that a little financial planning is all you need to make that happen.
  5. You want to stress less. Managing your money reduces stress. Not managing it, contributes to stress.
  6. You want to create more opportunities for yourself and live well with the money you have.
  7. You want to take care of the ones you love.
  8. You want to be able to help others.
  9. You want independence.
  10. You want to get more out of what you have, and stop wanting!

When we associate money management with a deep held value or a goal, we are far more likely to prioritize it. That not only helps to keep it on the to-do list, but it helps to get the job done.

And it doesn’t have to take that long. As little as 10 minutes a day can make the difference between living the life you want and living a life that you feel stuck in.

Sheila Walkington is the money coach for  Money Matters and the Co-founder of the Women’s Financial Learning Centre: www.womensfinanciallearning.ca. If these columns are striking a chord and you want to delve a little deeper sign up for the WFLC’s free e-zine Financial Empowerment Quarterly.

What sort of money questions do you have? Email Sheila and who knows, they may show up in a future column!

 

Leave a Comment

Let us know what you think or share your great finds with us so we can share them with other Vancouver mothers!