I am regularly hearing from clients and friends about how the negative and foreboding financial news is making people anxious. If all the doom and gloom has you worried and confused as to what to do, you are not alone.

It feels as though inflation is rising by the day. Reports are showing inflation rates never seen in our lifetime. And it’s not isolated, it’s global. Phone calls home will inevitably include a discussion about the price of petrol and groceries. Summer is the time many of us ex-pats travel to our home countries to see families and friends. This year I have seen a spike in online chats where people are talking about how flight costs are the highest some have ever seen and they are looking for advice or tips on how to fly for less.

https://www.raemona.com/post/why-now-is-the-time-to-get-your-finances-in-order-to-offset-inflation

I often get asked why I left my 19-year career behind to do what I do now. The answer is complicated and multifaceted. I had a successful career in finance. I was paid very well and, from the outside, it looked like I had it all. But the truth is that I was constantly exhausted, and eventually realised that I didn’t feel content. I wasn’t happy and I wanted more from life. I wanted a life where I felt like me again, and I wanted to do something meaningful. So, I left the high paying corporate finance career that I’d worked so hard for – and entered the world of entrepreneurship.

Some of the most shameful or stress-inducing events in life are being fired from your job, losing your income, or not having enough money to pay your bills. Worrying about money is the number one cause of stress globally for men and women. And knowing that, is it any wonder arguments over money is the number one cause of divorce worldwide?

We fear not having enough money or losing our jobs. Our money values and mindsets can feed these fears. And they are so deeply personal. And often so deeply embedded in us and our way of thinking and being, that we are not even aware of them.

Yet job losses, salary reductions, redundancy, divorce, surprise costs, inflation etc are a common part of living in today's world. At least some of those stressful events will happen to us at some point in our lives.

It’s time to break down our biases.

Much of the research around how and why women feel the way they do about money management isn’t surprising to us women. According to statistics, 81% of women said they’ve personally been a victim of negative stereotypes – including about their investing abilities. And while this is extremely sad, it’s not surprising to most. I, too, have experienced this firsthand on more occasions than I care to remember, even though I am a finance professional with the experience and qualifications to back it up.

Did you know that money is the number one cause of arguments in marriages?

It’s the second leading cause of divorce globally. According to a Kansas State University study, arguing about money is ‘by far’ the top predictor of whether a couple stays together or not. Researchers found arguments about money tend to take longer to recover from and are more intense than other issues.

I was recently asked for some suggestions around what people should not do with their money, so here are some small steps we can all take to ensure we are managing our money well on a day to day basis.

I am an obsessive planner who thrives on being busy. There I’ve admitted it out loud! There is nothing I like more than a good plan! It gets me excited, keeps me feeling grounded and sane, gives me a sense of purpose but most importantly for me, it focuses my mind.

Are you worried about your job security? And so wondering what your financial situation would be should you lose your job?

Or maybe you are thinking of changing careers or becoming an entrepreneur and are not sure if you can afford to be without an income for a period of time?

Here are some simple steps you can take to provide clarity over your financial situation so you can better focus on figuring out your next career move.