Happy FamilyYou probably have a pretty great life. A nice home, car and job. You look after your loved ones, pay your bills on time, and maybe even save for the future.

It is likely that you are also concerned about your money life.  Despite the fact that 43% of North Americans spend more than they earn, that is actually a symptom of the root problems.

I have put together a list of the 3 big mistakes I have seen many mid- and upper-income families make (and admittedly these are mistakes I have made and have learned so much from).

  1. “Ignorance is bliss” – Not knowing how much it actually costs to run your life.

When life gets busy, and tracking expenses is a pain.  Between the credit cards, debit card and numerous payments that need to be made, keeping a handle on it can feel hard.

It is likely that you were never taught how to manage your day to day money.  The banks are very happy to give you more credit, so if you go over a bit, it isn’t the end of the world, right?  But then the debt starts to creep up and up.  If you don’t know how much it costs to live your life, how do you know if you can afford it?

A great step to take is to consider the spending areas you might have been forgetting.  You will likely think of including your mortgage, utilities and groceries in your spending but don’t stop there.  Be a detective – scan your credit card and bank statements for additional frequent expenditures like your Costco membership, dog grooming and gas for the regular trips to the in-laws.  These are things that cost money and may get missed in calculating your regular monthly spending.

By simply understanding how your money moves through your life, you may identify some problem areas. Making small changes could help to avert a financial challenges in the future.

  1. “If I ignore it, it will go away” – avoiding the money conversations.

ostrich-head-in-sandAvoiding focusing on something when it feels challenging is a natural response.  Many people will put off working on their finances for months and years to avoid being uncomfortable.

Are you being the proverbial ostrich with its head in the sand?  Whether you are ignoring your individual finances, or avoiding money conversations with your spouse, the challenges won’t go away until you take action on them.

Avoiding can not only perpetuate the problems, it can add additional problems like feelings of guilt, shame and blame.  It is not surprising that money and the feelings that can get associated with it is a huge factor in the divorce rate.

The important thing to do is to start taking small steps.  Book small chunks of time – even 30 minutes will get you moving forward.  Organize your paperwork. Pay bills and transfer funds. Review  what has been done and what is coming up.  Work with your partner and cheer each other on.

  1. “Being stuck in the muck” – Not having a goal or dream to focus on

We spend all sorts of money on things that we don’t need, or even want because we don’t have a compelling reason not to.

When we don’t know how much our life costs, and we are avoiding the subject, we start to believe that it will always be like this.  We forget to dream.

Get really specific about what you want.  What would you rather spend your money on?  By setting a clear goal, it is easier to “learn to say no to the good so you can say yes to the great” as Jon C. Maxwell put it.

Having more money, less stress and more choice are the hallmarks of making friends with your money.  Small steps and a clear plan makes a huge impact. When you change how you handle your money and how you feel about it, it can change your life.


I invite you to spend some time this week looking at your money life to see if you are making any of these 3 mistakes.  If you are, don’t beat yourself up, remember awareness is the first step, and now you can begin to make friends with your money.

My mentor says that money isn’t the most important thing, but it touches everything that is important.  Changing how you manage your money life will create ripple effects through all of those important parts of your life.

If you know you are making one or more of these mistakes and can’t seem to  figure out how to get out of it, click here to sign up for a F.R.E.E. 15 minute Find Your Hidden Money Call!   This is a great opportunity to get a great strategy to implement immediately, and a game plan to take you from where you are now to the confident money life you really want.

I made room in my calendar to take nine (9) Find Your Hidden Money calls and they are filling up so don’t miss out.  Grab your spot now.

Click here to schedule your Find Your Hidden Money Call

%d bloggers like this: