I talk a lot about wellness, yet probably not enough about a key area of well-being in all our lives – financial well-being. If we are not well in our financial house, that can bleed into basically every other area of our life. Because the truth is, money is an essential component of our modern existence, so rather than fight it, ignore it, resist it, or wish it into abundance, it’s extremely important to educate yourself on what will create financial wellness for you and your family today, and well into the future.
Enter Worth It: Your Life, Your Money, Your Terms, by Amanda Steinberg, Founder and CEO of DailyWorth and WorthFM. This gem of a book not only gave me an important wake-up call (You’re turning 38! Where’s your retirement fund??), I’ve never in my life been so excited to save, so ready to say no to fleeting experiences in favor of creating super sexy savings galore!
Watch this video to hear my enthusiastic review…
Here are some of my big personal takeaways:
- Having a clear picture of your finances means knowing your Networth. Knowing this will help guide your goals and decisions.
- I am way past due in creating a robust retirement account. Thankfully, it’s not too late, and part of that process has already started with the creation of my doTERRA business as an additional income stream to my coaching practice. As I am the opposite of risk averse (my money type is “visionary”), a smart business is a good financial root for me to have.
- There’s a difference between good debt and bad debt. Good debt includes things like education and business investments, that increase in value over time therefore contribute to your wealth. Bad debt applies to things that decrease in value and therefore do not contribute to your wealth.
- Save while you pay off debt, because having a $0 balance on your credit card doesn’t matter if you have no cash for your life.
- Saving is fun fun fun!
- You can still have shopping and playing money even while you save, sustain, pay down debt, and build wealth for the future.
Now it’s your turn! Share in the comments below (or on Facebook) – How do you feel about your financial well-being? And read this book!