A Man is Not a Financial Plan

February 19, 2014 § Leave a comment

You are a sweetheart

February and the celebration of Valentine’s Day always seems to me to be a good time to talk the importance of loving yourself enough to take care of your money.  Studies find that if you have confidence in yourself, if you think you are worth the effort, you WILL take care of your money. And I want you to do that, to believe you can do this and then to DO IT.

To that end I want to remind you that ‘A man is not a financial plan.’ This is a trademark phrase of the Women’s Institute of Financial Education, WIFE. We say this to make a point, to urge you to care for yourself as you do for others, to take responsibility even if this is an area in which you have little knowledge or familiarity. It is not said to scold or nag you, or to make you feel guilty.

It is said because it is true. People are valuable as human beings and not for their money. You are important because of who you are and not for what you can do for someone else. It is true in another key way: your money is your responsibility.

What this does not mean is that you have to shoulder all the responsibilities of the finances by yourself if you are blessed to have a partner. But neither should you do nothing and ignore it all.

So what should you do? If you’re married, talk about money together. Because it’s your money, decide on a money plan that fits both of your lives.

Don’t wait until some special time in the future. Don’t avoid this as if it is painful. You can learn this. It may need to be explained differently than you are presently hearing it. But you can learn what you need to know to be in control of your money.

Make a budget. Or, check on the budget and make sure things are going as planned. If you DON’T have a budget, make one. They are a delight as they help you control the fun and future plans. Budgets are GOOD.

Talk about retirement together. Retirement planning is typically the biggest part of creating your money map or financial plan. What lifestyle were you anticipating once you retire? How much income will that lifestyle require? How much is saved presently and at what rate are you saving? How much more might you need to save to achieve your goal? At what age do you want to stop working? What about your spouse? They may want to keep working? Will you be moving? Lots of things to work through so that your plan is specific to YOU and realistic.

Take responsibility for a portion of the money tasks. Pay certain bills, make calls or do the internet investigation needed for your investment accounts. Talk together about the whole picture but personally take a role in your money life.

Men are amazing and wonderful. But they are not alive only to give you money and act as a wallets for your spending pleasure. They are people to love and respect and they deserve intelligent partners who handle adult responsibilities adorably.

Get your free ‘A Man is Not a Financial Plan’ bumper sticker at http://www.wife.org/ CR9798

 

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