“Research has shown that there is a link between financial and emotional confidence. The happiest and most satisfied Americans are financially secure. At the same time, those who are the least satisfied with their life are struggling financially. Surprisingly, stress and dissatisfaction can be found at all income levels. Having a high income does not automatically translate into financial confidence. Confidence comes from having a plan and creating financial balance.”
~ A. Brincefield
Financial fear is one of the biggest stressors for women today. It is the things we do not know or do not understand that often can be the most feared. A vast majority of women are fearful of finances and their financial future simply due to a lack of knowledge. And with fear can come either hesitation or rash decisions, which can lead to financial mistakes and thus, more fear.
{How to tell the difference between “real” fear and False Evidence Appearing Real.}
It seems only a short time ago, that I sat in that same place of fear. My financial future was depleted due to a reality of life over which I had no control. I stared into a pretty bleak unknown. I had no idea what questions to ask and was embarrassed and afraid to admit that a middle-aged woman had no idea where her financial world went wrong and no idea how to turn it right-side-up.
Thanks to someone who pulled beside me and helped educate and empower me, I was able to get some stability and begin to rebuild a financial framework that would support my future goals.
I was ultimately so inspired by the knowledge and support of my financial coach, I decided to become a financial planner and coach myself!
Why do I do what I do? I never want another person to stand where I was – afraid, unschooled and paralyzed to move forward. That hopeless place brought me to the place I am today helping others develop a financial strategy to take them step -by-step to making their dreams a reality.
It is my mission to support women so that they do not shy away from thinking about their finances. I want to make sure that women do not allow fear to persuade them to ignore their finances until a crisis hits.
The reality of the financial world seems, to many, a lofty and cold world of numbers, equations and many out of reach dollar amounts. Couple that with words like market instability, inflation, retirement funding and investment risk, many of us will simply become the proverbial head-in-the-sand person on autopilot who ignores her finances.
WHERE DO YOU STAND WHEN IT COMES TO YOUR FINANCES?
“As humans, we love to set goals for ourselves. Some of the most common goals we set involve our health and our money. We may want to lose weight, get stronger, and run faster. Or maybe we want to save more, spend less, and pay off debt… perhaps all of the above? The struggle is that we may not know where to start with these goals. If we did, we probably would have accomplished them already. Working with a professional to create a plan of action, stay accountable, and monitor progress is a great place to start.”
~ Unknown
Are you in the middle, on the outside or simply not even a visitor?
How does that affect your goals and dreams for your life?
What is holding you back from taking a step toward working with your finances?
As a financial strategist, targeting the fear and the unknown is my specialty!
In many ways, financial and physical wellness are parallel; both cause tremendous stress on the body and mind if unhealthy. Yet, when in a healthy state a person’s finances can enable them to achieve things in life they may have never thought possible! and without stress!
Just like with your physical wellness, achieving financial wellness can require a coach or trainer. A professional coach/ financial strategist can provide knowledge, outside perspective and accountability. By beginning with goals, the strategy is tailored for you, for your life and for the destination where you want to arrive.
Think of this as your financial fitness!
The strategy becomes the financial journey with the target being the financial destination.
Financial journeys come in pieces that often require stops along the way as well as adjustments and acquiring new things to continue further. Here are a few tips as you choose to embark on a journey such as this:
- Your Money Mindset matters!
- You must start with what you have in your hands. Let’s be honest, you can only work with what you have and a real, honest evaluation of this is needed. This can be a hard first step but when you honestly know what you’re holding on your balance sheet, the fear lessens.
- You must set clear goals and benchmarks. Journeys do not focus solely on destinations, but the next step in the journey. A financial journey must have manageable benchmarks in the strategy that target the ultimate destination. Remember numbers are not goals, and goals are not just numbers! Setting realistic goals and measurable benchmarks along the way make the journey so much easier.
- You must have a plan. Short term or long term, this is crucial. You would never embark on a long trip without some sort of plan. This would have you wandering aimlessly and wasting precious resources. Likewise, embarking on a financial journey toward financial wellness requires a plan. This plan should be based on the life goals that are personal to you and your family. It is within this plan, that the strategy is formed to meet your goals.
- You need a partner. This person should not be someone who talks TO you, but who talks WITH you. Someone who may have journeyed there before and has experience and knowledge to help guide and keep you accountable along the way. I call them “financial guardrails!” This accountability can mean the difference between a successful journey and one that derails before it ever begins.
- You must be able to measure your progress. Tracking progress and evaluating the effectiveness of your strategy keeps you moving in a forward direction toward the destination. Like tracking miles, benchmarks and deadlines are crucial as well. Progress keeps us moving forward and gives us encouragement. It is the place we look back to where we came from and can high-five ourselves for making it!
Financial wellness is a very attainable and manageable goal. But like anything worthwhile it requires change and sometimes just a little hard work and grit.
As you look at your financial world now, make a choice to face the fear and get real. Wellness and stress relief will be the result and you will be so glad you embarked on this journey. I am so thankful to represent a culture that believes in people first and in which caring for them is a number one priority.
I’d love to be your travel companion as we create a financial strategy together for the future you dream of!
To Your Financial Health!
Dee
Dee Dillingham is a financial strategist and representative for Consolidated Planning, a full service financial advisory firm, located in Summerville, SC. Dee is a former educator and business owner who loves to work with women, women in business, young entrepreneurs and young professionals to help create strategies to achieve goals and help create a financial future they want. She is a mom of 2 and grandmother of 3 and is passionate about seeing others achieve their goals and become passionate about a future they desire and seeing them develop an attitude of success with their financial world.
Links:
deirdre.dillingham@cplanning.com
