What do women in business consider their biggest money challenge? As a Certified Money Coach, I conducted a survey last week to get feedback on that money question and others. In response to: “What’s your greatest challenge with money” - not surprisingly the two highest responses by percentage were “not enough” and “not saving enough for the future.” When women replied to what the reason was for the lack of money 55% said they were focused on surviving today, followed up by 23% “not saving or investing for the future.”
I understand the whole focused on today reality. Been there. Especially when raising a family, working like a maniac and trying to squeeze a little fun out of life. When I talk with young women especially, too many aren’t saving ANYTHING for their future. But, they’ll take $40.00 and blow it on a meal out, a new purse, beauty products (look in your bathroom drawers and see how much money is sitting in there!!)
In order to change the “not enough money” piece we have to take Action – preferably NOW. I’m not a financial advisor, I’m a Money Coach with a 20 years in the field of Psychology & Addiction. I know it FEELS good in the moment to BUY something, but take a breath, think about whether that purchase is going to do anything for you when you’re 70 or 80 and right NOW start an investment account or a savings account with an automatic deduction of $20-50 a month. You won’t miss it and in ten years those beauty products will be dust and you’ll have money saved!!