Nice Girls Don’t Get Rich has been on my bookshelf for several years. Then, around May the get-your-finances-in-order-bug hit me. This book is a great read, but it is slightly outdated. In college, I used to be a big fan of Suze Orman and her show. Then she started selling prepaid debit cards that are not good. Finance has interested me in the past, but I have not made it my sole priority… and I have finally decided to get my act together.
That’s the reason I started reading Nice Girls Don’t Get Rich. I wanted this book to be my starting point for financial literacy. Throughout the book she shares the mistakes most women make and then she shares coaching tips to remedy the situation. A lot of the anecdotes flabbergasted me, but others–not so much.
Don’t marry for money. You can borrow it cheaper. Lois P. Frankel
At 28, I really had not considered my financial situation that seriously. I mean, my dad has taken care of everything up to this point, and I figured that when I got married, my husband would continue. (I know some feminist is reading this and getting really upset.) Sorry, I’m simply saying that financial literacy was not my top priority when I was in school. I was told to balance my checkbook, but that’s about it.
The most foolish thing I’ve ever done related to money was spend too much of my life worrying about whether I had enough or didn’t have enough, I always felt I never had enough. I cheated myselfout of living in the moment, and I’ll bet I die with a lot left over. Lois P. Frankel
I never factored in that I wouldn’t be married by now with my white picket fence and 2.5 kids, so basically, I need to get stuff done on my own.
The last couple of months, my student loan debt has annoyed me. Like most Americans, I’m being passive aggressive about handling it—well, not anymore! My personal debt (credit cards etc.) is under $10,000. Compared to most people I know, that is really good. I plan on having it paid off by Christmas. Student loan free by 2016! Who’s aggressive now?
I urge everyone: before leaping into a business, get your finances in order. Have a personal budget. Put money away in savings. Pay off debt, or better yet, don’t acquire it. Avoid debt at all cost. You can run a successful business with Student Loan debt. It’s possible, but you have to be strategic about your planning.
I learned that most millionaires spend 10.5 hours a month on their finances. This girl was spending about two hours. Hangs head I’m buckling down and staying focused. Are you financially literate? Do you invest your money? Is there 3-6 months of emergency funds in your savings account? Let’s get real about our finances. Share your finance stories with me.
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