“How confident do you feel about your financial future?” Since just the thought of that question makes me feel a little uneasy, I’d say not very confident. Every time I read an article telling me how vital it is to budget your money or to build an emergency fund, I get a pang of guilt. And I’m not the only one with avoidance issues.
Research suggests that while 60% of women worry they won’t have enough money to last through retirement, only one in three Americans have a detailed budget. But let’s be honest: Setting up a budget and monitoring our spending habits can be tough. We fear a budget will be restrictive and time-consuming to plan out, so it ends up on our to-do list for tomorrow, day after day. But
However, when done right, setting up a budget and getting control over your money can feel super empowering and can help you reach your financial goals with ease. Taking the time to find a budget that works for you can even help you plan for the occasional splurge (guilt-free)!
To quote My Domaine’s lifestyle editor Sophie Miura, “Drafting a budget is like going to a gym class after vacation: You know it’s going to be tough, it might make you feel a bit guilty, but it’s always worth it in the long run.”
If you’re one of the 92% of women who want to learn more about financial planning, it’s time to get your finances on track. Here’s a simple step-by-step guide — consider it a money map. Your new financial future starts here.