Ready to transform your life but unsure about the financial implications? Discover how to initiate a money reset that helps you achieve all your aspirations.
Is it time for a financial reset? Reflect on your life and career goals, especially in the wake of the pandemic. Many individuals have left their jobs for better prospects, switched fields, retired early, or launched new ventures. Notably, financial expert Jill Schlesinger has seen a surge in inquiries on her radio show, Jill on Money, from those eager to make substantial life changes without compromising their financial security. Her insights culminated in the book “The Great Money Reset: Change Your Work, Change Your Wealth, Change Your Life.”
In our conversation, Jill examines the pandemic's effects on people's goals and the realization that former aspirations may no longer fit the current landscape. She outlines actionable steps for making significant decisions, whether relocating or shifting from full-time to part-time work. The initial step? Scrutinizing your financial situation. Tune in to learn how to assess your income, assets, and debts to turn your new goals into reality.
Questioning traditional views on financial success is crucial. Jill emphasizes that defining what financial stability means to you can provide flexibility in your next steps. Is owning a home essential for financial stability, or could renting and investing in retirement accounts be a smarter choice? Should you transition from full-time work to complete retirement, or is part-time work during retirement a viable option? Jill addresses these important questions and more.
Another critical aspect of financial health is managing your spending. This doesn’t mean sacrificing all the little joys in life. As Jill puts it, “I’m not saying that skipping your morning latte will make you rich,” but it does involve evaluating if your expenses truly add value to your life. We explore the emotional drivers behind spending, why impulse purchases often fail to alleviate these feelings, and ways to reduce spending without feeling deprived.
Boosting your wealth is not just about cutting costs; it's about increasing your income too. Jill offers her expertise on negotiating raises or benefits effectively by being clear about your needs, understanding your company's position, and advocating for your worth without burning bridges.
In our Mailbag segment, we hear from a listener concerned about managing an elderly relative's estate plan and whether legal assistance is necessary. Another listener wonders if a social security number is required for independent contractor work. In Thrive, we highlight the habits of super savers.
Catch more of Jill's insights in a previous episode discussing investing, healthcare, and financial management for women. For more of her expertise, check out her first book, “The Dumb Things Smart People Do with Their Money.”
Don’t forget — FinanceFixx is launching another program! If you’re seeking personalized financial advice and a plan for your future, the next session begins on April 4th.
