Financial habits # 2
March 8, 2022
I’m Miriam Neff with Wise Women Managing Money-and I’m Valerie Neff Hogan
M Many of our financial actions are habits. Food and clothing shopping. Entertainment, eating out. When we’re overspending, its easy to keep going on autopilot.
V Bad idea. Its easy to coast, but trouble lies ahead. Here’s a suggestion. Answer the question: ‘Why?’ What matters to me in the long run? Much spending is for short term things, food, entertainment. Those can destroy our long term goals. Having 3—6 months expenses set aside in savings is wise. In turbulent times, its survival!
M One thing we can count on is that financial realities change. Employment, health issues, divorce and widowhood. Assessing financial habits regularly is wise. Rarely do these changes NOT impact our personal finances. Being willing to change? Necessary.