“Money, money, money…”
Today we talk about money mindset. While some people seem to spend way too much time thinking about money, others seem not to think about it enough. However, no one would disagree that money is a necessity.
Unfortunately, many of us are not taught the skill of managing money or how to adapt to our changed money circumstances at different times in our lives.
Fran Hughes, director of Intuitive Money and Womens Money Forum has a passion for working with women to better understand and manage their money. Fran joins us in today’s episode to share her top tips around money mindset and managing money when you have a family.
Some of the highlights from this episode include:
- Managing money starts with your money mindset, your expectations and values.
- We should not be afraid of money. Money is just an enabler.
- What you can do now to prepare yourself financially for when you have children in the future.
- How to navigate issues that may arise when two individuals with two different money mindsets form a couple.
- The key to ‘the juggle’ around money is managing expectations and having open communication. (See, we’re not the only ones who know the importance of managing expectations!)
- Fran’s top tips for ‘The Money Juggle’:
- Plan ahead and set realistic goals
- Set up a ‘baby bank’ account and start storing away savings to fund the time off work
- Be kind to yourself – it’s ok to live within your means
- Track your spending and determine where you can reduce spending
- Prioritise – what’s important to you? “Quality over quantity”
Listen to our 7 ways to outsource household responsibilities for our advice around money and time.
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