Quote of the Day: Know what you have and where it is. Laurie Fitterer, my financial advisor
I write for our local women’s magazine, called Her Voice. I love that title. I found my voice by getting published in Her Voice. In my most recent article, The Power of the Purse, I encourage women to fully understand their financial status. If you’d like to read the article, click here. It is on p. 32 & 33. Click on the text to enlarge it.
I feel especially proud of this article because I used to be one of those women who gave away her power over money. My husband earned the money, had control over the money, and worked at a bank. In part, I believed he had better knowledge of where to invest it. In part, he liked having the control. When we got divorced, I had anxiety about figuring out what I had and where it was, and needing to do it under great emotional strain. I went from knowing very little, to understanding my investments.
Laurie advises us to know who is on our professional team, attorney, accountant, banker, etc. Don’t wait until a crisis occurs to find out who they are and try to figure out what you have. If you’re single, find out the best way to use your money. Develop a relationship with these professionals, and never believe that you need to talk yourself into trusting someone. If you have a bad feeling about someone, find a different person to help you. You always have options.
Money and finances are important for all adults to understand. I don’t think any of us got enough education on this as we were pushed out into the world. Laurie said that most college students get bombarded with credit card offers and quickly get into trouble. Be money smart, and never give away all the power over your purse.
Journaling Prompt: Write about money.
Mary, I just recently realized you wrote for Her Voice! I have been meaning to ask you about it! I have it in my bag to bring to work – haven’t had a chance to read it yet with sessions galore but I think this week will be the week! Can’t wait to read about your take on finances… my husband and I are thankful very money savvy for being so young, and yet we’re always looking at ways to improve. Hoping to learn a thing or two!
xo,
Laura
Mary, I’m so gratified you wrote this, and I think it’s fabulous this magazine gives you such discretion in the topics you write about. It’s a wonderful collaboration. I credit your editor for being so generous, and you with coming up such awesome topics for your articles. They are always so well done and your lakes area is all the better for it.
Good article Mary! And you are so right. I need to completly read your article (everytime I start, I get interupted 147, 000 time. You know how it goes). That issue was really good and I loved the “Sheconomy” angle. Keep up the good work!
Mary, I look forward to reading your article. And what an important topic it is that you’re writing about. I know too many women who’ve allowed financial relationships to devolve into power plays, always with the woman in the subservient position of agreeing, never questioning or asking why. Most of these women are now in dreadful financial situations, too late aware they should have gotten involved sooner. My hub and I share and discuss, two verbs that work.
That’s great advice.
I particularly love the quote:
know what you have and where it is.
Thank you all for your empowering comments. How money is handled, discussed, and used is a good indicator of the kind of relationship you’re in. Ask questions. Don’t be afraid. Be the driver on your own financial road!
From my friend and financial planner, Laurie via an email…
Hi Mary, I am so humbled (is that a word?!) and seriously moved by your words. We have gotten so much positive feedback/comments from the article….even have spoken with married women who said they are going to act! Way to go…such a great message. Again, thank you. Thank you for your trust. Have a great day~ Laurie
Hi Mary,
Your followers might be interested in Barbara Stanny’s blog. bararastannyblog.com She has written a couple of good books on becoming financially successful through overcoming your inner demons. Also, John and I were talking about money over breakfast this morning…about how he wants to teach his kids how to make money. I talked about how I wish someone had taught me about all of that (and of course, this was BEFORE I read you article) You did it again!
Joy
For anyone who might we wondering, Joy is my sister, and it seems we have a mind link. Thanks, Joy, for the blog suggestion. I think I’ll check it out. And, yes, we were sadly under-informed about money in our education and home.
Mary, you loook so wise in the photo.
Goes along perfectly with $$ talke.
Blessings, dear one.
P
Excellent advice. I’ve always had some semblance of power with my money, just because I was single for so long. Now that I’m married, I tend to let my husband handle all of that, but lately we’ve been working together. I think that’s important. After seeing what my mom went through, having to learn everything when my dad got so sick and then passed away…I’d rather have a firm grip on things now then wait until I’m forced to.
Thanks for the comment over at my place. I’m looking forward to getting back in the swing of things! I hope you’re able to get your drama back in working order soon! Here’s to fall 🙂
Happy week,
Jen
sometimes it just becomes a habit, and then years go by and there it is , the where do I start.
I’m guilty of this.. when online stuff started becoming the way , he started doing at at work as something he could do, while I did other things, and now it is the dance we do and I do sometimes worry about it.
having said that , I don’t feel less in control but, still.