Are you on Track with your Money?

eNewsletter - November 2011, Volume 33

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Upcoming Women's Financial Learning Centre Courses and Events

It's All About Connections

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Dear ,

If you feel like you're living pay cheque to pay cheque, you're not alone.

The Desjardins Group has created the first Canadian personal finance index and its first report suggests Canadians aren't prepared for a financial emergency such as illness or losing a job.

Only 50% of the people surveyed for the index estimated they could last for more than three months without resorting to a credit card to survive and 14% said they wouldn't last a month.

And it's not just those at lower incomes feeling the pinch. Only 55% of households earning more than $55,000 figured they could last more than three months without turning to credit.

If you feel like you're among those who aren't prepared to weather unexpected financial downturns, get a grip on your finances with the Smart Money Essentials Program. Next weekend workshop coming up in Vancouver on Feb 25th & 26th.

Are you on Track with your Money?

Now is a good time to assess your financial health and knowledge. These days there's a chill in the air and it's not just the wintry weather!

Across Europe it has been the chill of economic uncertainty as Europe wavers on the brink of a debt crisis. Here at home, the Occupy protesters are a reminder of discontent that has been brewing over corporate bailouts and executives payouts.

With all this turmoil people are probably wondering about their future. They're asking themselves, do I have a sound financial plan? Is my financial house in order? Do I even know what I'm doing?

We're happy to tell you, in our experience as money coaches, we have found people usually know more than they think they do. So while it's no time to throw caution to the winds, relax a little -- you probably know more than you think.

Here's a five-point check list for the basics:

1) I have completed a net worth statement: I have added up the value of everything I own (my assets) and what I owe (liabilities) to come up with my net worth.

2) I manage my cash flow, tracking money that comes in and all my spending.

3) I have a spending and savings plan so I know money is there to pay the bills when they come due and I can make choices about whether it's more important to save for a designer dress or if I'd rather put that money towards a ski trip.

4) I have built up a good credit history and I pay my credit card off in full every month so I am not paying high interest rates to fund buying that is beyond my means.

5) I have an investment and retirement plan which I review regularly and I seek professional advice because it's worse to remain in ignorance than to worry about asking questions for fear of looking dumb.

If you have answered yes to most of the questions, you're on your way.

You have a handle on your finances and are aware of the some of the key issues that can make a difference between financial security and not sleeping at night because you're worried about paying the bills.

If you didn't answer yes to all, don't be too hard on yourself, you're not alone - but it is time to take control.

Many of the respondents in the Desjardins personal finance index survey who were aged 45 to 64 had no retirement savings plan. And 40 per cent in that age group who were still working had no idea how much they'd need to live on when they retired.

As money coaches, we can help you discover those answers and take responsibility for your own finances. We're not here to judge but to empower you with the knowledge to take control of your financial future.

Call us and take a step towards securing your financial future.

Upcoming Women's Financial Learning Classes and Events

7 Mistakes in Salary Negotiations - Find out the 7 mistakes you'll want to avoid during salary negotiations, and learn great tips on how to E.A.R.N. Your Worth™ - Downloadable Audio

Smart Money Essentials - Weekend Intensive in Vancouver BC Sat-Sun Feb 25th & 26th 2012. Or, start anytime with our Home Study program. If you're tired of worrying about your finances and ready to take control, this program is for you.

Private Practice Finances Made Easy - Home Study Program - This program will help you through any confusion, doubts or overwhelm that you may have about private practice financial management so that you can free up your time and energy to focus on building a rewarding and profitable private practice. 4 session downloadable audios, workbook and simple to use worksheets

Careers - Are you passionate about helping others to manage and make the most of their money? Are you a self-directed entrepreneur who wants to work independently but not alone? If so, we want to hear from you! Train to be an Associate of Money Coaches Canada Inc. as a Money Coach in a 5-day intensive training program in March 2012 on Salt Spring Island, followed by 3 months of experiential mentorship as you successfully launch your practice with our leadership and support.

It's all About Connections

Welcome to our section on exciting events and resources to help women connect with each other and to the opportunities we have to take a leadership role in our lives and in our communities.

Intro to Steadyhand - November 30th, Edmonton

Interested in learning more about Steadyhand? Join Tom Bradley and other members of the Steadyhand team for lunch as they provide an overview of our company, investment approach and fund lineup. We'll also share the guidance we're providing to clients on asset mix and portfolio positioning. Details of the session are as follows:

Date: Wednesday, November 30th
Time: 5:30 - 7:00 PM
Location: Sutton Place Hotel (Rundle Suite) 10235 - 101 St.
Please RSVP if you plan on attending as space is limited: info@steadyhand.com to register

Soul Retreat in the City

In the midst of the noise and demands of office parties, Christmas shopping, and canapés, we invite you to PAUSE. Find the quiet, connect to the spirit and holiness of this season of light by joining us for a mini-retreat. Rooms for reading, journaling and meditation, an open chapel and the labyrinth will all be available, all night. Take part in all or none of the scheduled events.

Date: Friday, December 2nd
Time: 4:00 - 10:00 PM
Location: St. Philip's Church, 3737 W 27th Ave. Vancouver BC
Suggested donation $20 (includes supper). For further information or to register please email soulretreat@shaw.ca or call Tracy Theemes at 604-569-2891

If you have an event or resource you'd like to share with us, email info@womensfinanciallearning.ca to find out about our sponsored links.

Questions? Contact Us

The WFLC Team
www.womensfinanciallearning.ca
Phone: 1-855-877-0977