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Women and Money – Our Relationship Part 1

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I recently attended the 7th Annual Total Woman Business Conference.  This year’s theme was FINANCES.  Traditionally, women have been under-paid as workers and even as business owners.  One of the presenters, Joyce Moy, encouraged us to examine our relationship with money.   She stated emphatically “you are in business to make money!  If not, it’s a hobby!”.

She has a very commanding presence and made a dynamic presentation.  Some points that struck a nerve for me were:

    • saving a minimum of $3/day will equate to $12k by the end of 1 year
    • if I fill a water cooler bottle with loose change – it equals about $4k
    • distinguish wants from needs; this sounds elementary but our consumption driven society encourages us to get it now or be left behind
    • ensure that your needs for basic survival (rent/food) are met – without it you will have many sleepless nights

She ended her presentation with a great goal setting acronym:  SMART; it can be applied to any goal setting exercise.

Specific:  set a specific target; i.e. I will save $1k

Measurable: you should be able to easily evaluate whether you have achieved your goal

Achievable: outline the steps that must be taken to reach your stated goal

Realistic:  your goal should be executable

Timeline: set a time for achieving your stated goal

Personally, I struggle with writing my goals down – financial and otherwise – preferring to keep them in my head.  After this inspirational talk – I’m going to write them down and post it next to my vision board!

Do you have written goals – financial and otherwise?  Do you periodically review and adjust them?  How do you celebrate an achieved goal?

Your comments are welcome and appreciated!

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