Are you behaving wealthy? (Image: Thinkstock)
As 2012 begins, you are probably reflecting on different facets of your life and may even be drafting a plan to make improvements. In fact, you may be making a renewed commitment to get your financial life in order this year. If financial independence is your goal, let me suggest the following quick assessment to get you started on your journey to wealth. Grab your purse and answer these seven questions to assess whether you are a woman behaving wealthy.
1. How many different credit cards do you have in your wallet?
Count the number of credit cards (exclude your debit cards). If you have more than one credit card, then you are likely overspending and incurring debt. Debt is the enemy of wealth and financial independence. By spending tomorrow’s money today, you are giving up your future freedom. On the other hand, financial freedom is built from consistently spending less than you earn. Thus, a woman behaving wealthy spends on the basis of what is important and pleasurable to her on her current income. Are you on the road to achieving wealth?
2. What is the value of your purse and its contents?
Add up the value of your purse and its contents. For example, if your purse costs $500, your smart phone costs $350, your wallet costs $200, your cosmetics cost $250, and your iPad costs $750, then the value of your purse and its contents is $2,050. Now, ask yourself if you have invested that amount into savings or retirement accounts over the last month? In this example, if you have invested at least $2,050 in the last 30 days, then you are building wealth.
3. Is your cash organized by denomination and facing the same way?
Open your wallet or purse and look at how your cash is organized. Cash arranged orderly is characteristic of a person whose financial life is organized. However, cash bills in disarray reflect a disorganized financial life. As you know, focusing through clutter and chaos is difficult. Be a woman behaving wealthy and organize your cash, financial files, documents, and accounts.
4. Do you have an up-to-date daily, weekly, or monthly to-do list in your purse?
Whether you maintain your to-do list in a traditional day planner or in an electronic gadget is not important. What is essential is that you have a plan for what you would like to achieve. A current to-do list reflects that you have identified, quantified, and prioritized your financial goals. Researchers have proven that you are 45% more likely to achieve your goals if you write them down. Are you on the road to achieving your goals?
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