Mary Hunt - The Financially Confident Woman

The Financially Confident Woman:
The Least Every Woman Needs to Know to Manage Her Finances and Prepare for the Future .
Copyright 2008 by Mary Hunt.

Ebook edition created 2012

All rights reserved. No part of this book may be reproduced or transmitted in any form or by any means, electronic or mechanical, including photocopying, recording, or by any information storage and retrieval system, without written permission from the publisher.

Tiptionary, Live Your Life For Half The Price, Debt-Proof Living, Live the Plan!, Cheapskate Monthly, Rapid Debt-Repayment Plan, Rapid Debt-Repayment Plan Calculator, Freedom Account and Everyday Cheapskate are registered trademarks of Mary Hunt.

ISBN 978-1-4412-3805-4

Library of Congress Cataloging-in-Publication Data is on file at the Library of Congress, Washington, DC.

This book is designed to provide accurate and authoritative information on the subject of household and personal money management. It is sold with the understanding that neither the author nor the publisher are engaged in rendering legal, accounting, or other professional services by publishing this book. As each individual situation is unique, questions relevant to personal finances and specific to the individual should be addressed to an appropriate professional to ensure that the situation has been evaluated carefully and appropriately. Money- and time-saving tips are offered for entertainment only. Neither the author nor publisher represent in any way the viability or accuracy of anything offered herein. Readers test and try at their own risk. The author and publisher specifically disclaim any liability, loss, or risk that is incurred as a consequence, directly or indirectly, of the use and application of any of the contents of this work.

Cover Design: Jeremy Hunt, SDMFX.com

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DPL Press, Inc., P.O. Box 2135, Los Angeles, CA 90723;
Special Sales: 800-550-3502. Visit us at DPLPress.com .

All scripture quotations in this publication are from the Contemporary English Version Copyright 1991, 1992, 1995 by American Bible Society, Used by Permission.

The internet addresses, email addresses, and phone numbers in this book are accurate at the time of publication. They are provided as a resource. Baker Publishing Group does not endorse them or vouch for their content or permanence.

This book is lovingly dedicated to
Posy Lough
a confident woman
whom I am blessed to call my friend,
colleague and mentor.

Also by Mary Hunt

Debt-Proof The Holidays

Tiptionary 2

Debt-Proof Living - Revised and Updated

Live Your Life For Half The Price

Everyday Cheapskates Greatest Tips

Debt-Proof Your Marriage

Debt-Proof Your Kids

Tiptionary

The Complete Cheapskate

Money Makeover

The Best of Cheapskate Monthly

Table of Contents

Introduction

I t was my junior year of high school, second semester. I was down to the wire and in desperate need of just one more elective to fill my class schedule. Any class that promised an easy A would do. Little did I know that my class decision would go on to become a defining moment in my life.

Imagine spending three hours a week in a dark and dreary classroom where the energy-saving teacher wont allow the lights to be turned ona teacher with all the personality of a dial tone who drones on and on about a subject that is so painfully boring you pray for a sudden attack of the stomach flu as a way to escape.

Welcome to beginning bookkeeping.

I barely made it out of that class with a passing grade and then only because I actually showed up for every class. The whole thing was one big unintelligible blur. The teacher spoke a different languageone he forgot to teach to his students. I didnt know a debit from a credit on the first day of class or the last day, either.

What I did learn was that I could not understand anything about money and finance, and I had no plans to try to overcome this situation in the future.

Hindsight shows a much clearer picture. I know now that the problem wasnt my inability to learn. The problem was that from the first day of class I lost my confidence. As long as I believed I could not learn this subject I was a lost cause. And every day of that long semester I reconfirmed my belief, right through the torturous final exam. From that day on I would avoid anything having to do with accounting, balance sheets, accounting records and the dreaded reconciliation. I lumped all money management under the dreadful heading of bookkeeping.

I know now that the words I spoke to myself turned into my thoughts. Every thought was imposed on my subconscious and emerged as an attitude. That is when the words became powerful in my life. I had such an aversion to anything having to do with numbers. What I believed became a self-fulfilling prophecy. Without confidence that I could learn and understand how to manage moneyboth in deed and on paperI was a exactly what I believed: A money idiot.

For much of my life after that disastrous bookkeeping class I lived under a dark cloud of worry that I would become financially destitute and homeless. I worried that eventually Id find myself living under a bridge. As irrational as that might seem as you read it, according to a recent survey Im not the only one of us whos ever had such a thought. Nearly 90 percent of women in this country admit they are financially insecure and worry about that bag lady thing, too.

Ladies, we need to talk. We dont have to accept financial insecurity as some kind of life sentence. And that constant and gnawing fear of becoming destitute? Forget it! We can do something about this.

We were created uniquely to birth children, to run households, to resolve problems, steer committees, host big events, and on and on it goes. Why do we struggle so when it comes to this matter of money? Its not for a lack of intelligence. The problem is we lack confidence. Were not sure where to start, who to ask or what to do.

Financial confidence is a choice. Its a matter of learning simple financial principles, then consciously applying them over and again until they become automatic responsesfinancial habits.

No matter how crazy youve been with money Im pretty sure Ive got you beat. And I have it on very good authority that with Gods power you can change. I hope that makes you excited about the future, makes you stop throwing away your bank statements, and gives you confidence that you can become the title of this book. At the very least, I hope you dont regret you bought it.

My journey into the credit-card abyss began quite innocently. I would never have considered my behavior irresponsible. I was simply agreeing to have it all now and pay for it later. I was pushing the envelope, living on the edge, going for the gusto because I would only go around once (obviously every marketing genius dreams of consumers like me). Throwing caution to the wind and living spontaneously were my definitions of enjoying life.

Me, irresponsible? No way! I was progressive, inventive, and creative. The challenge was that in order to carry off this persona I needed moneylots of it, and more than I happened to have at the time. I was driven to find new and better ways to mortgage my future; otherwise, I might be forced to stifle my marvelously whimsical tendencies and sudden inspirations.

I learned the hard way that irresponsible financial behavior eventually brings financial devastation. Activities meant to make me soar clipped my wings instead and sent me hurling into a pit of despair. My plan for freedom became my own prescription for bondage.