2022 Goal Series: Financial

Hi friend,

Let's talk money.

It's the first Friday of 2022 and I'm done holding back on this topic.

Did you know that women, on average, have less than half the net worth of men? Men, on average, have a net worth of $12,000. The average woman's net worth is around $5,500.

We need to lift the secrecy that surrounds money. Let's come together to talk about our current situation, concerns, worries, hopes, and goals around our financial life. Money ultimately gives us flexibility and that's what I want for each of you.

You may not know this about me, but I have a PhD in Economics. I really enjoy geeking out on personal finance and investing. BUT I don't have a ton of time to devote to my finances. My goal is to automate my finances and investments as much as possible to keep me life running smoothly.

As for my own financial goals this year, here's what I'm planning to work on:

1. Achieve 20% savings rate off of pre-tax income
2. Reduce average monthly expenses by 5%
3. Review investment account allocation weekly
4. Schedule a day off twice a year to do financial housekeeping (transfer old 401k, etc.)
5. Set aside funds throughout the year to pay for summer camp (ouch, so $$)

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If you need some additional ideas for you own 2022 financial goals, here are the money habits that I find very helpful. Every single one of these came out of an expensive mistake:

• Max out my 401(k)
• Automatically transfer money to my investment account each month
• Automatically pay my minimum credit card payment (just as a backup, I still pay them off every month)
• Check my credit score regularly via Credit Karma
• Check expenses once a month via Personal Capital
• Set up automated alerts from my bank on my checking account balance

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Do you have financial goals for the year? I'd love to hear what you are thinking about!

Just a reminder - I want to help you reach your goals this year! Here are opportunities to get additional support:

1) The Parent Lightly Facebook Group is a great source of community and additional ideas.

2) I'm excited this year to offer 1:1 coaching. Since this is a new thing, I can structure this however you like, whether it's one session to get you started or ongoing weekly/monthly check ins to keep you on track. If you're interested in this, just email me and we can chat.

Let's have a great 2022!

Beth @ Parent Lightly

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