You’re already working on maintaining a good attitude, communication and commitment with your spouse, your boss and your kids. What about your bank account?
Get on the right foot with your finances: The savvy lady leaders at Citi’s Women & Co. shared their tips on forming a healthy relationship with money.
Commit to your budget. Be realistic about your spending habits, and set a limit for yourself. Monitor your budget and spending habits closely and regularly, and be prepared to change your budget to adjust to any lifestyle changes that may occur.
Communicate. Discuss your financial situation with your spouse/partner, financial advisor and yourself. Share any feelings or experiences that may shape your attitude towards financial activity. Communicating your financial flaws and past mistakes will help you determine the most effective way to save, spend and budget.
Be involved. It is important that you are involved in your finances — and if you have a spouse/partner, you both should be on the same page with creating and maintaining a financial game plan. Remember, knowledge is power, and by knowing all the financial facts of your life, you will have a much better sense of control.
Honesty is the best policy. Be honest and realistic about your goals, as well as the sacrifices you’ll need to make in order to meet them. Maintaining a budget and financial plan will be extremely difficult if there’s any denial or disagreement with your loved one about money. It is possible that what you consider a “want,” your other half considers a “need.” Be honest about what you want, need and expect from your budget, and understand what meeting those wants, needs and expectations will require.
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