stack of papersYou may remember my friend Rosemary from my previous post called Funding Our Parents Retirement.  She is a lawyer who recently left DINK-hood to become a mother.  Before Rose became a successful lawyer, she was a successful banker.  When we worked together on the same team we had a co-worker named Matthew.

His weight was excessive and his organization was nonexistent.  Depending on the day, the season, and the temperature we could smell something “not quite right” coming out of his office.  The one time that Rose went to his apartment she saw several stacks of papers all over his living room, kitchen, and hallway.  Any type of newspaper, magazine, or flyer she could think of, he had piled up in his one bedroom apartment.

I always attributed his disorganization to the fact that he was a bachelor and a bit of a pack rat.  I attributed his extra weight to the fact that he was always eating out; which again, I thought was because he was a bachelor.  One day Rose mentioned to me that people rarely have only one aspect of their life out of control.  People who don’t control their weight, or their clutter, may also not control their finances. If someone is financially irresponsible they are often irresponsible in general.  It is not a financial fault; it is a personal trait that needs some correcting.

One day we could have it all…a great job, an expensive home, and a lovely family.  But, with one single mistake it could all come crashing down. When we lose control of one thing, if we don’t regain control of it, we could lose everything we have.  We witnessed this with the dot com crash as well as the current economic financial crisis.  If any of us have ever experienced a run of bad luck, we know how hard it can be to regain control over an uncontrollable situation.

I would like us to all think about our personal life, and how our personality controls our financial situation.  Maybe your good (or poor) financial habits are just an overflow of our personality traits.

Are you a “neat freak” who always has to control everything? Do you keep impeccable financial records?

Are you a “go with the flow” person who never plans anything?  Is your definition of a budget…Spend it if you have it?

If we want to make financial changes in our lives, we should try to make a general macro change. The individual micros will all fall into place. Organize your closet, and then your checkbook.

(Photo By Cishore)

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Tahnya is a Certified Financial Planner and former Investment Advisor turned marketing and communications professional She holds a degree from Concordia University, is debt free and currently works in the field of digital marketing.


This entry was posted in Finance 101, Goals by Kristina Tahnyak. Bookmark the permalink.

Avatar photo About Kristina Tahnyak

Tahnya is a Certified Financial Planner and former Investment Advisor turned marketing and communications professional She holds a degree from Concordia University, is debt free and currently works in the field of digital marketing.

MANAGE YOUR MONEY TOGETHER

Here are some simple guidelines for DINKS to build wealth:

1) Collaborate: Meet regularly to talk about money, set goals together, track and monitor them.

2) Understand and respect your partner. Take time to understand your partners values about money.

3) Watch the numbers. Get a budget, monitor your spending and track your net worth.

4) Max your retirement. Maximize contributions to your tax deferred retirement accounts.

5) Invest in stock. Stocks perform better than bonds or cash.

6) Avoid high interest debt. Credit cards and title loans are financial cancer.

7) Diversify. Don't put all your eggs in one basket.

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