27% have less than 1 month – Do You?

This may surprise you – almost half of Canadians have less than 1 month of expenses saved in case of emergency. In BMO’s newly released Rainy Day Survey, It is clear that savings is still a major challenge. One-third of Canadians are living pay-cheque to pay-cheque. I know from my clients that many of you are earning well over $100,000/year and are still struggling. You are juggling expenses, debt, and lifestyle choices. You don’t have a money life plan and are trying to manage complex finances in your head. The percentage of people with enough savings to cover a change in financial situation, job loss, illness, injury or major home or car repairs is up 8%, to 27% of Canadians, according to the annual Rainy Day Report. However, this survey also shows us that with two-thirds of Canadians using savings through an emergency, and almost half of Canadians with less than three months emergency savings, many Canadian families face potential financial crisis. Ready to create a better Money Life? 1. Get clear on what your life costs and what you earn 2. Decide what you really want your life to look like 3. Match your money to your goals. Need help? Let’s talk....

I Am Being Misunderstood

  I hate when I screw up. The last few weeks have been exciting, upsetting, challenging and interesting. I stepped out with a big message – a new way of talking about money. How we spend money How we make decisions about money A new blueprint for money – one that is by you, for you I have had a lot of really positive feedback and I really appreciate those who have seen the most recent webinar. I have also had some negative feedback, and to be honest even the positive feedback has been different than I was expecting. The emails I sent got a lot of attention – unfortunately, some of the attention was not on the topic I was trying to bring up. The money message I have is about personal responsibility, so it only makes sense that I take responsibility for my part in this misunderstanding. I screwed up. I sent a couple of emails with language that seemed like I was launching an attack on the coaching industry. That was really not my intention, and on reflection, I understand why some interpreted it that way. For that I accept full responsibility. So, let me clarify. Here is what you really need to know. I am a part of the coaching industry and have benefited from the coaching I have purchased. I have many wonderful colleagues in this industry and I recognize the value coaches bring to the clients we work with. I, like you, have made money mistakes. Some of my best examples have come out of decisions I have made in the last few...

The Decision To Be Made

What big decision do you need to make? If you are struggling – with your money, your business, your weight, your relationships, there is a big decision that you have not made. It may be a decision about moving towards something – a new business venture or new partnership. But more often than not, it is a decision requiring you to move away or separate yourself from something. Staying or leaving a business or personal relationship or a program, changing a part of your business or leaving your business all together. Change freaks us out. The fear of the change process, even the possibility of something really good coming out of it, will stop us from taking action. So, instead we get mired in the problem. We worry, we fret. Again and again, the impossible problem is solved when we see that the problem is only a tough decision waiting to be made. ~ Robert H. Schuller When you feel stuck in a problem or situation, start by digging into it. Explore the problem and why you are avoiding making a decision. Consider the options and possible solutions. Define and Clarify the Issue Start by asking yourself these questions: How is that a problem? Keep asking that question until you get to the root of the problem. What are the consequences of doing nothing? What would you gain or lose? What are the consequences of making the decision? What would you gain or lose? What changes do you need to make or action do you need to take to make it happen? Generate Good Alternatives Hold a brainstorming session...

I feel broke

We can’t afford it.  It comes out of the mouths of families all over the world.   We say it about big things and little things.  We say we can’t afford a three-week trip to Europe but we also say that we can’t afford to buy a coffee, a pair of shoes or the cereal the kids are begging for.  What do we really mean when we say We can’t afford it?  In North America, We can’t afford it has become the catch phrase to replace real money discussions.  It is the fallback position of many families who don’t know what is happening with their money. It often has nothing to do with their capacity to actually pay for something. It is a big lie.  Most families can afford to do and have many of the things they want if they choose to make those things a priority. They may not want to spend money on that particular choice, but they could afford it if desired.  We can’t afford it gets used to avoid having to examine priorities and have real conversations about money. We can’t afford it.  What does it really mean? I feel broke. I don’t know if we can afford it. I don’t want to spend on that. I don’t want to think about money. I don’t want to make a decision. It isn’t a priority. I feel scared about our money. We are spending our money elsewhere. And, occasionally, it actually means that it is beyond the current financial capacity of the family. “Money is like water. Money flows through all our lives, sometimes like a rushing...

If money was your friend, would it want to hang out with you?

When you meet someone new who you connect with, you explore the idea of a friendship.  You get to know each other and spend time together.  You find out about how the other one is and how you are together.  You try on the new friendship to see if it is comfortable. Now think about that friend you have had for years and years.  How do you treat them?  You check in, and arrange to spend time together.  You attend to each other, care for each other and look out for each other.  If something goes wrong – a misunderstanding, an upset, you address it and make it better. If you think of your money as a friend – new or old, how do you treat it?  Would your money say you are a good friend?  What would it say about how you treated it and what you expected from it?  What would the conversation sound like? What if, instead, the conversation could sound like this? Imagine if you start treating your money like a friend.   You spend time together and attend to it.  You are kind and curious and you address it if you mess up.  How would you both feel then? Loved these ideas? Want to talk about how to do more to make friends with your money? Set up a time to chat with Karen....