My favorite episode of Sex and the City is literally a mini-class on women's finance!
Synopsis
"... At the bank, she's told that she's not a "desirable candidate" for a loan...On a shoe-shopping excursion with Miranda, Carrie realizes she's spent $40,000 on shoes..."
Lesson number five: Live Within, or better yet, Live Below Your means.
It amazed me what a simple principle this is, and yet one that seems so difficult for so many of us to do.
I have set up a budget, or plan for myself each month. I should be able to put away a good chunk of change into my emergency and investing funds. How is it that each month, no matter how much I bring in, something always seems to come up, or some new outfit needs to be bought?
If there is no plan, your money will flow into you, and then right out the bottom of your "boat"- you and I have got to plug the holes girls!
Each month, no matter what the current drama is, because drama isn't seasonal, and doesn't take vacations (and I would like to!), I try really hard to keep to my budget. I live below what I make, so I can put the extra aside. I pay myself first. The money I don't spend today on shoes, Starbucks, CDs, pedicures (oh wait, scratch that I need my pedicures!)- what ever I can live without today, without completely depriving myself of all enjoyment, will get me that much closer to my dreams tomorrow.
Start small, put away something! Give up one thing you can live without, knowing that the money you save can be used to invest. If we invest our way to financial freedom- then, ladies, we can have our Manolos and wear them too!