Friends With Money

by Galia Gichon on October 29, 2007

I attended the LADIES WHO LAUNCH Live event last week. It was very inspiring being with more than 700 women in one room all with their own businesses! Plus, it was the first time I sold pre-order sales of „MY MONEY MATTERS” boxed kit, www.mymoneykit.com .

This week’s newsletter came to me as I realized how important your network is for your business and your personal finances. “Friends With Money” was the title of a movie but there is something important to the title. Read below for more on how your friends and support network can help change your personal finances. It also starts with being organized. Sign up for FR-EE TELECLASS: “FIND MORE MONEY JUST BY GETTING ORGANIZED” on 10/30. Also, if you are working with a financial planner, you have to read the latest article on MY BLOG with more questions to ask her.

“Friends With Money” was the title of a movie but there is something important to the title. Consider examining the outside influences in your life: your support network, your friends, even your family. Make them as positive as they can be. I am not telling you to dump your current friends and find ones with money. However if you feel stuck and in a rut, chances are there are some habits and attributes of your friends that you admire and can learn from. Plus, there might be habits of your friends that are not a positive influence. Remember, you are the only one that can change your financial situation. Even if you inherit money, you still need to manage it. If you are married to someone who earns a lot of money, your situation could change. So stop making excuses and start doing things differently. Not sure where to start?

1) Read a book. You don‚t have to read the book cover to cover. But read a chapter that looks interesting. Start with one of Suze Orman’s or Jean Chatzky‚s books or Personal Finance Toolkit .

2) Take a class. I have a seminar coming up on 11/7 “7 FINANCIAL STEPS EVERY SELF-EMPLOYED WOMAN NEEDS TO KNOW” , bring a friend. Register for a teleclass: “FIND MORE MONEY JUST BY GETTING ORGANIZED” . Take a class at your local community center. Even if you can‚t make all the sessions, you will leave charged about your money.

3) On the negative side, stop spending so much time with friends that have bad money habits (for example shopping too much or hanging out drinking $12 cosmopolitans)

4) Many of your friends have great money behaviors that you want to learn and start practicing yourself. Start weekly coffee sessions to motivate each other how you can support each other (i.e. savings contest).

5) Read a blog of someone that is trying to change their financial habits. Some are very motivating. On MY BLOG , I discuss some clients, plus many more relevant articles. I came upon these two recently and thought they had a lot of merit as well: www.geezo.com, a social networking site for your money and www.wesabe.com, similar to an online quicken.

6) Join an investment club. What a better way to surround yourself with people that want to see their savings grow and learn about investing!

Check out “MY MONEY MATTERS” kit.
Tools to Build Peace of Mind and Long-Term Wealth
www.mymoneykit.com.

If you are not already a subscriber, I invite you to subscribe to my FREE weekly e-mail newsletter at DownToEarthFinance-On@zines.webvalence.com for smart tips to save more money and independent advice about mutual funds and retirement or or visit Down-to-Earth Finance.

{ 1 comment… read it below or add one }

SeeLaHSeeSYoU! November 16, 2007 at 11:29 am

It’s so weird how things work. I was just talking to my mom about this very topic (letting go of friends with bad money habits) and now I’m reading about it on your site.

I really need to make some changes with my finances and you’re right…it does start with me.

Thank you and keep up the good work.
See

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