The first exercise is a mental exercise: let’s begin by dropping all that shame, the stress, the feelings of not measuring up, of missing opportunities – let’s let it go. This is a true first requirement of the process of getting clean – when we hold on to an image of ourselves as not as financially savvy enough, we have no room to become financially savvy.
Start thinking about five positive money-events that you created in your life. Did you set up and start funding a 401k? Did you save every week for that trip to the Caribbean? Did you write a check to the charity event last month?
WE WANT TO CELEBRATE WITH YOU! TWEET US ONE OF YOUR FINANCIAL CELEBRATIONS (@GATHERGROWGIVE) TO CELEBRATE THE GREAT THINGS YOU HAVE ALREADY ACCOMPLISHED!
The second exercise is more concrete: we will need to gather all financial documents-both electronic and physical – together. Some of this is hard. Maybe you are super upset at yourself for buying that stock in your 401K so you’ve been throwing out the statements as soon as they come in. Maybe you have a tax bill you can’t pay right now so you’re ignoring it. Here’s a list to get you started:
- Mortgage statement
- Credit cards
- Renters insurance
- Home insurance
- Car insurance
- Car payment
- Life insurance
- Health insurance
- Investment accounts
- Private school bills
- Mobile Phone
- Long term care
- Bills from family that you're paying
- Loans made to others
- Bank statements
Are all your bills in paper form or electronic, or a mixture of both? Pickone. We advise clients to be completely electronic – you can always print out docs, but bringing everything on to an electronic format makes bill paying, tax filing and budgeting so much easier. Take some time this week to get all bills sent electronically. Most checking accounts make this easy – find a bank that offers low or no fee checking with bill pay services.
Notice how you are feeling as you go through this process of gathering. Are feelings of stress or anxiety coming up for you? Write down what you are feeling. Perhaps when you look at that life insurance bill your heart sinks to your stomach because you’re 2 months late in paying the premium. Notice the feeling and then let it go. Remember:
YOUR FUTURE VISION YOU CREATED, AND MOVE ON.
Grab your journal to reflect on what you've discovered!
List 5 POSITIVE money-events that you created in your life. . .
DIVINE ASSET MANAGEMENT LLC
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Dani Hughes & Valerie Sanchez
Co-Creators of Divine WealthWise Exchange