FINANCIAL WELL-BEING S T R AT E G I C G O A L A R E A
ADVANCE
PROGRE$$ not perfection WRITTEN BY: SABRINA MELGAREJO, GF, FINANCIAL COACH
Every day, women confide in me to discuss their finances and I would say at least 90% of the time, those women have negative emotions when it comes to their money. Whether they feel they don’t have enough money to enjoy their life, they feel trapped by debt, they are constantly comparing themselves to others who may appear to have more money or they don’t feel capable of handling their finances by themselves - I’ve heard it all. If that sounds like you, don’t stress - it’s not your fault! Growing up in school we were taught how to identify metaphors in novels and memorize the periodic table but we were never taught financial literacy, something that we would have to use every day for the rest of our lives. Regardless of our past, we can always improve ourselves moving forward and that is what matters. This is the key to the success of myself, my clients and what will be successful for you too - the PNP mindset. The Progress Not Perfection mindset is what I instill with every one of my clients. Having this mindset means you are focused on how to improve yourself each day little by little as opposed to wishing you had this subjective “perfect” financial situation. Every individual has a different definition of “perfection” - for some, that’s having a lot of nice cars, for others, that’s having a lot in your savings account. You yourself might have changed your definition of perfection over time too. In high school, being perfect with money may have been having a lot in your bank account. In your late twenties, being perfect with money may have been having a lot of money invested. Our definition of perfection always changes but our consistent determination to improve ourselves doesn’t have to. 10 Phoenix of Alpha Sigma Alpha
Wondering how to measure progress in your finances? Net worth! Here's how to calculate it:
1
2
Calculate your assets a.k.a. things you own like cash, the balance in your bank accounts, investment accounts, homes, cars (even if you owe money on your home/car, you can still include it as an asset if you own it). Calculate your liabilities a.k.a. things you owe like credit cards, student loans, mortgage, car loans.
3 liabilitiesassets Take your
and subtract your - that's your net worth number
Don’t freak out over your number. Remember, we are focusing on progress not perfection. This number is just a starting point. Regardless of how low you might think it is, as long as you are improving it over time, you’re killing it! If you calculate your number and you are stressing, reach out to me and I will get rid of that fear ASAP.
