Financially Real

4 Steps to Get Financially Real and Find Your Money Happiness

4 Steps to Get Financially Real and Find Money Happiness #Infographic | www.TheHeavyPurse.com

When I mention financial literacy to most people, they are often unfamiliar with the term. There are lots of fancy definitions as to what financially literacy means, but to me, it is being able to use your money confidently in the real world. Sadly, this is something many people struggle to do. Everyone wants money, but few use it confidently or in a way that will help them achieve the life they want for themselves.

This is one of the many reasons why I chose to become a financial advisor. I wanted to help people see money as a gift as I was taught to do and to use it to create joy in their lives and others, regardless of their circumstances. In order to do this, you have to get Financially Real. Sometimes that means confronting hard truths, like debt, emotional spending and more, but it is worth the effort.

I asked Tanya create an infographic outlining the basic steps on how to get Financially Real so you can begin the process of reclaiming your financial power. Even just starting will change how you handle your money and ultimately help you find your money happiness.

4 Steps to Get Financially Real and Find Your Money Happiness #Infographic | www.TheHeavyPurse.com

How are you getting Financially Real?

Shannon

April 13, 2015  •  16 Comments  •  Financially Real

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  1. Monday, April 13th, 2015
    "40% of Americans will never have a net worth in excess of $10,000." That statistic is a flat out shame. Even someone who earns 25k a year will have a million dollars in income flow through their hands over a 40 year work history. You would think they would be able to at least save 10k of that.
  2. Monday, April 13th, 2015
    Knowing ourselves is really the most important aspect of financial journey. Doing this enables us to target problems head on and to reach goals more easily. I agree that it can help us find true happiness.
  3. Monday, April 13th, 2015
    Awesome infographic Shannon! That 70% stat is just staggering. It just goes to show, once again, that the amount of money you make doesn't dictate how wise you are with your money. I'm sure you run into this quite a bit, but I remember helping people who were making six figures who were paycheck to paycheck and in a fair bit of debt simply because they didn't make it a priority to teach themselves about how to manage their money. I love the first step as well - pointing out the necessity to know where you're at. You can't make decisions about something you have little awareness of.
  4. Monday, April 13th, 2015
    I think the one key thing here is to definitely outline what is most important to us overall, not anyone else! I'm happy I at least have a net worth over 10k. That's something, right? :)
  5. Monday, April 13th, 2015
    "40% of Americans will never have a net worth in excess of $10,000" this was shocking to me! I suppose those who continue to have mortgage debt forever and ever and car loans on depreciating assets probably will always have a low (or negative) net worth. After all, I'd bet houses are a big part of many people's net worth calculation.
  6. Monday, April 13th, 2015
    Understanding your financial reality is huge. I can't tell you how many meetings I have with clients who lay out their 5 or 10 year plans for me but on their current money trajectory, there is NO way that they can achieve those goals. It's easy for all of us to wish and dream, but unfortunately our financial resources are finite and will not allow for us to achieve everything we want, but it doesn't mean we can't still have a great life, we just need to have a realistic and financially healthy one.
  7. Monday, April 13th, 2015
    The statistic that “40% of Americans will never have a net worth in excess of $10,000? really is shocking. I think part of the reason for this is that a lot of people believe themselves to be an exception to the rule. This illusory "superiority" makes people think their spending/saving habits don't pertain to the general rule. Great job with the infographic!
  8. Monday, April 13th, 2015
    #1 is HUGE.....but it's actually a two step process. First you have to accept that you even have limits.....then you have to come to grips with what they are. I keep telling Vonnie that unless we win the lottery, we will always have to budget and have constraints on what we can do....that's just the reality.
  9. Monday, April 13th, 2015
    I'm actually not shocked that 40% of people will never have a net worth of $10,000. I read an article a while back about how many retirees still carry student loans. I think so many Americans are trained in the payment mentality and never expect to own very much. I think we got financially real once we got fed up with payments. Although we still pay for mortgages, I hope to never owe anyone again for assets that don't create income.
  10. Monday, April 13th, 2015
    I love the infographic! I may have to pay Tanya to make me one sometime. But anyway I like your suggestion of making a roadmap. I am constantly trying to roadmap - or "bridge" as I like to call it - my goals. I refuse to resign myself to only having x amount of income the rest of my life. If I can't afford something I always ask "how can I make it affordable?" Or when a goal seems impossible I try to break it down into logical (and realistic) steps.
  11. Wednesday, April 15th, 2015
    I love the infographic! The fact that 70% of people live paycheck to paycheck is hard to understand. You're right - people aren't being "real." They are living a fantasy and not planning ahead at all. Some people live paycheck to paycheck because that's all they can afford, but a whole lot of them live that way because they choose to.
  12. Wednesday, April 15th, 2015
    Great infographic. 40% counting on the lottery or inheritance...oh boy! Sadly I believe that stat since a fellow co-worker said that and while I thought she was kidding at first, she sounded pretty serious. The chances of winning the lottery are so slim, it's really a bad idea to consider it a retirement plan. Same with living paycheck to paycheck. I know many who earn a good income, yet somehow still live that way. They absolutely need to get Financially Real!
  13. Wednesday, April 15th, 2015
    Clearly I'm not the only one, but I found that “40% of Americans will never have a net worth in excess of $10,000” to be startling and scary. I wonder how much of that is related to mortgages or student loans, and how much of that is related to consumer debt. Too many people are choosing to live paycheck to paycheck because of their out-of-control spending. Your infographic is a great guide to finding your way back to reality and creating a better future.
Shannon Ryan SHANNON RYAN, CFP®
  • Meet Shannon

    "As a Certified Financial Planner, it is my passion to help individuals and families build a healthy relationship with money. I look forward to helping you raise financially confident kids.” - Shannon Ryan
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