Money, Money, Money

Wot's in my walletImage by Joits via FlickrHow are your finances? You hear that question everywhere.

Do you have reserves (which used to be called savings)?
Do you have retirement monies – a 401k perhaps?
If you have children do you have education savings?
Is your credit card debt under control?
Do you own property?
What is your debt to earnings ratio? How much should it be?
Do you keep a record of your spending?
Do you stick to a budget?
Do you have college loans?
Do you look for bargains?
Do you shop with coupons?
Do you buy store brands?
Do you have health insurance?, life insurance?
Does everyone in your family have health insurance?, life insurance?
Do you have pets?, Do you budget for them too?
Do you have investments?
What do you invest in and how do you choose your investments?
Do you use an advisor or a stock broker?
Are you very involved with your investments or do you rely on your broker?
Do you own gold?
Do you grow your money slowly but surely, or are you waiting to win the lottery?
Do you have an accountant?
Do you pay your taxes?, on time?
Do you have someone go over your taxes?

It goes on and on. Trying to be savvy about your finances is complicated and requires good habits and discipline. Some people seem to pick it up naturally. Some of us don’t. Following the steps to good financial health is essential to having a solid future but a percentage of us have trouble with this. Some of us have emotional issues around money and spending. We need financial therapy. Maybe high school would be a great place to teach this, not just in “home-ec” (do schools still have “home-ec”), but as a serious course that continues into college. Maybe we should start in elementary school. Can the everyone be financially health, or does the financial health of some depend on the financial dysfunction of others?

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