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Articles for Moms is written by Lori Radun, , Certified Life Coach and founder of True To You Life Coaching

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Personal Finance

November 2006 coaching corner What is a Healthy Money Manager?

Smell the Coffee and the Cookies Too!
One Minute Coaching Corner - Personal Finance
11/15/06
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Dear Lori,
wheel of life

In this mid-month, mini newsletter, we will explore one of the 8 major areas of the Wheel of Life. This month we will focus on Personal Finance.

In 2007, we are going to do something different with the One Minute Coaching Corner. Since this newsletter is all about you, I'm going to give you the opportunity to receive coaching on your issue of choice. How does this work? You simply email me your question that you would like addressed and I will feature one question/answer per month. Chances are, if you have a concern, others share that same concern or struggle.

Since we only have this month and next month before the New Year, I am going to start collecting questions now. So please click on the link below and submit your question you would like answered. P.S. You question is completely anonymous. P.S.S. Don't get silly now and ask me something like why we don't have world peace.

I want coaching on this question

What is a Healthy Money Manager?
A coaching peer and I have been reading and working through a wonderful book by Barbara Stanny called "Overcoming Underearning". As a coach, it is critical we stay on top of our game in all areas of life, so my focus this past month has been on personal finances.

Last year, when I conducted a survey of my readers, financial struggles was the number one issue moms were facing. With an increasing number of stay-at- home moms and single moms, managing our finances is even more critical. So I wanted to share with you what I have been learning.

Being a healthy money manager requires that we do both the inner and outer work.

The inner work requires that we examine and transform our thoughts, feelings, beliefs, attitudes and decisions about ourselves and our money. Believe it or not, this is the most important work because, almost always, at the root of financial issues is an emotional issue.

Whether it's thoughts of scarcity, feelings of deprivation, or beliefs that you don't deserve to be financially secure, your attitude about money has a profound impact on your financial picture. Ask yourself these questions.

  • What negative thoughts or fears do you have around money?
  • What feelings come up for you when you think about your current financial situation?
  • What do you believe about your ability to manage money and make money?
  • What attitudes about money have you held on to from childhood?
  • How do you feel about the financial decisions you make on a day to day basis?

In conjunction with the inner work, the outer work includes what we do with the money we are blessed with, and how we go about making the kind of money we deserve. Some examples of outer work are spending less, saving more, budgeting your money, giving back to God, investing wisely, negotiating higher pay, and making sure people respect your work and adequately compensate you for your talents.

If you (and your spouse) concentrate on being healthy money managers, you will be rewarded with financial security. When you can demonstrate that you can handle the money you have, you will be gifted with more. God appreciates and values good stewards of money.
Last Month's Sound Off Responses
Question was: What is your best money saving tip for the holidays?

My best money saving tip for the holidays is drawing names for gift giving. We throw all the adults (in our case...the brothers, sisters, and their spouses. Nieces and nephews still get gifts as does Mom) names in a hat and then everyone chooses a slip of paper with a name. Make sure someone keeps a master list...Mom is a good choice since she is not in the drawing. My husband's family has done this for years and it really is a money saver not to mention a stress buster. You are only thinking of one gift instead of trying to come up with ideas for many people. --Joan

One way to save is to shop Toys R Us with friends during the "Buy 2 get the 3rd free" events because it is much easier to reach those minimums and then we figure out who owes what in the parking lot. This works especially well if you have kids about the same age. Better if you have more than one child! I have also been thinking about holiday entertaining when filling out fundraiser forms. This year I am supporting our MOPS group and providing an easy breakfast of Butter Braids for Christmas morning. I am providing munchies from frozen chocolate chip cookie dough throughout our week of company while supporting our school! --Sheila

Thank you to all who participated and shared these valuable tips for others.

If you are interested in being more intentional about creating the kind of life you'd like to live, I am offering a 60 minute "discovery" session for a 50% savings. The cost to you is only $37.50 to help you evaluate your overall satisfaction in 8 major areas of life and set goals that help you move towards greater satisfaction in life. Please feel free to contact me if you have an interest.

Blessings,

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Lori Radun, CEC
True to You Life Coaching, LLC

phone: (630) 236-7142

 

 

 

 

 
True to You Life Coaching™ Phone: (630) 236-7142 Email: lori@true2youlifecoaching.com