"Little by little, one travels far." - J.R.R. Tolkien
The Unspoken Truth About Money
Money, like politics and religion, often remains shrouded in silence, a taboo subject we hesitate to discuss openly. Yet, for young women especially, it's arguably the most crucial topic we should be addressing. In our information saturated world, why do we still shy away from prioritizing our financial well-being? If the bank balance is positive, if we don’t have any significant expenses due tomorrow, if we are making our credit card or loan payments, life is ok. But what about the future??
The Silent Thief: Time Creep
You've likely heard of "lifestyle creep," but let's introduce a more insidious concept: "time creep." Imagine yourself at 50 (as impossibly far away as it may seem), looking back at all of your Sephora, Starbucks, and Amazon purchases thinking, "What do I have to show for my mindless spending (aside from potential credit card debt)? Why didn't I plan better?" This isn't just a hypothetical scenario; it's a harsh reality for many.
A Forbes Advisor survey from late 2023 revealed a startling truth: 81.6% of 2,000 U.S. adults surveyed had regrets about their financial choices. The most common regret? Not saving enough for retirement, a regret shared by nearly one-fifth of Americans.
The Shocking State of Financial Planning
What's the most common approach to personal finance and planning? Shockingly, it's NOTHING AT ALL. The Schwab Modern Wealth Survey from 2024 paints a grim picture: only 36% of Americans have a written financial plan. Are you part of the majority hoping things will magically improve? Or are you passively consuming financial articles, occasionally checking your balances, and calling it "planning"?
Let this sink in: without a solid, mindful plan, you will NOT achieve your retirement or short-term financial goals. It's not just about the distant future; it's about the life you're building right now.
A Call to Action
But fear not! Here are small, actionable steps you can take TODAY that will instill the confidence you need to succeed. The best part? They require LESS THAN AN HOUR of your time:
Leverage Technology: Check if your bank's app allows you to track income and expenses effortlessly.
Embrace Professional Tools: If your bank's app falls short, reach out to us at contact@raisingrockefeller.com for access to our Command Center planning and budgeting app.
Secure Your Future: Verify your enrollment in employer-offered retirement accounts. Self-employed? Check out this link.
Create a Surplus: Identify adjustments needed to have extra cash at the end of each week or month. This surplus is your ticket to financial freedom.
Keep The Momentum Going
Stop sticking your head in the sand or leaving it to your partner. It's not just about money; it's about crafting the life you dream of, one small step at a time. Tomorrow will be here much sooner than you think! Take your first steps today with the call to action items above and watch your path unfold to a brighter, more secure and confident future. If you have difficulty or questions with any of the action steps above, please email me at: gokce@raisingrockefeller.com.
