Financial Success means different things depending on how you feel about money. Certified Financial Planner and author, Karen Lee says our emotions around this topic run so strong that disagreements about money are a top cause for divorce. Karen sees these problems every day in her practice and her new book –– It’s Just Money, So Why Does It Cause So Many Problems?
–– teaches people how money can either be their best friend or their worst enemy.
Culturally, women are still urged to find a man to give them financial security. That same outdated attitude plays into the lack of equal pay for women, even though many are the sole support of their families. Women as a group are definitely not as well off financially as men, Karen says. Many of us depend on the men in our lives to support us and then if he dies or divorces us, we are unprepared.
Dr. Nancy and Karen discuss differences in saving and spending styles and how experience and emotions can make you over-spend or hoard your savings. Karen’s personal definition of financial success is having enough income from investments to be able to choose to work or not. For her, it’s freedom from having to earn. For others, financial success is the security of knowing they have enough income to live out their lives.
There is much more. Listen to other tips on how feelings affect our financial habits and check out Karen’s websites: www.karenleetalksmoney.com or www.KarenLeeandAssociates.com for more great financial information.
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