The first question to ask here is:

'do you know where you money goes?'

Most women shy away from completing a budget - because the results might be embarrassing. Everyone knows how much they spend on big ticket items like rent, mortgage payments, car repayments etc, but the majority of people are stunned by the amount of money they can't account for.

Ask yourself - is it more comfronting to find out where your money goes now - while you can do somehting about it - or do you wait unitl you are retirement age and you have to rely on charity because you can't afford to live?

This problem is mainly caused by individuals not being able to distinguish between what they need and what they want - we've been socialised to want everything we see. The key to freeing up money in your budget is to prioritise ruthlessly!

Is it a need - or is it a want?

Keep that phrase in your head and play it like it's a broken record - you'll find that you don't spend as much.

Hint: If you feel you absolutely MUST have an item, examine the price and then calculate how many hours you'll have to work to pay for it. Rationalising each purchase makes your decision personal and tangible, and directly relates it to what you are doing with your life.

Saving is a lot like physical fitness - we all know what we should be doing - saving for emergencies, eliminating credit card debt, socking away money in our super funds etc - but knowing how to fit it into our lives isn't easy.

Addwealth for Women have developed a number of strategies that can easily help keep you on track to achieving your financial goals.

Why wait to be wealthy? Call Addwealth for Women today on 08 9284 3144 or register online at www.addwealthforwomen.com.au

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