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 The
Money Management Newsletter: Managing
Money
Financial fitness is a team effort
Compiled by the Money Management Editor, with files from NC and InvestorEd.ca
The Money Management Newsletter
Recent studies say money is one of the leading causes of disagreements
between couples. It also contributes to daily stress and can impact emotional
and physical health. Taking a proactive role in your finances can help
improve your overall quality of life. Here are some steps to help:
1. Share financial decision-making.
Financial fitness is a team effort. Don't hand over the reins to your
partner simply because 'they are better at it". Share your lifestyle
goals and discuss how you plan on getting there. Chances are you have
different routes in mind which, if misunderstood or poorly communicated,
could cause money disputes. Understanding 'the big picture' will also
help keep stress at bay.
2. Don't go it all alone.
Third-party advice may help bridge the gap and give you a much-needed,
fresh perspective on your finances. A good adviser can help you get on
track and stay focused and this will make you feel more in control.
3. Ease into it!
Getting financially fit is simply a matter of having the right educational
tools. First, tackle the basics and then build on this foundation over
time and with experience. It's like beginning a new exercise program;
start with small steps, things that are easily accomplished. Boundaries
are pushed a little farther every time new comfort levels are reached
until eventually it becomes second nature. The best part about it is that
you won't have to don spandex to do it!
Get financially fit to help you make more informed financial decisions!
Check out free, objective educational resources on like Focus On ... a
more in-depth within the Fiscal Agents
- Learning Centre and at Investing
Basics.
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, Fiscal Agents Money Management Newsletter
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