I recently had a couple call me in tears. They had been married for 2 years, were living away from their families and had just found out they were expecting their second child. While they were so excited to have a family they felt like they would never be able to make their family dream a financial reality. She was staying home with their toddler and he was finishing an advanced degree. They were buried in student loan debt and slowly racking up credit card debt. They wanted to take control of their finances; they just didn’t know how.
After spending the last 5 years presenting a Family Finance 101 to hundreds of couples preparing for marriage and working with many of them one-on-one after their marriage, I discovered that our generation is struggling with a serious problem. It’s the same problem that this couple was facing as well as many others.
Satisfaction, Freedom and Purpose.
A new survey conducted by the National Endowment for Financial Education (NEFE) and Parents Magazine reveals two in five (41 percent) of millennial-age parents rate their financial health unsatisfactory, while another 40 percent say financial strain is putting stress on their relationship with their spouse/partner. The survey also finds that almost half (46 percent) say financial concerns are keeping them from having another child, and nearly one in five have more than $25,000 in debt.
Not saving enough, living paycheck to paycheck, debt, job uncertainty and concern over their partner’s spending behaviors top their list of concerns.
It’s pretty clear how we got here. For years we have been told that all we need is a degree and high paying career to be happy. We are encouraged to work as hard as we can to save up a large amount of money in hope of retiring at 65 and enjoying our old age.
The problem is many don’t.
So many of us have seen our parents work tirelessly towards this goal only to end up with no clear path to retirement, and often having sacrificed relationships with their spouse and kids.
So if you don’t feel that you are in control of your finances or on a solid path to wealth you are not alone.
But what is stopping you from creating that life? Is it fear? Is it knowledge? Is it accountability?
It was for me. 5 years ago my wife and I had just had our first child, I was just starting my career and the stress and anxiety of being a new parent was crushing me. But after reading hundreds of personal finance books, completing my MBA in finance, spending time with countless mentors, and completing my 10,000 hours working with couples just like you it finally started to click. I began to grasp budgeting, saving, automating my bills, paying down student loans, creating a plan for my career and most importantly discovering what wealth really meant for me.
For too many people wealth is a number on their bank statement. They derive their self-worth from their net worth. But if there is one thing that I have learned in the last 5 years its that wealth is so much more than a number. Money is a large part of your wealth but it is integrally connected to your health, family happiness and career satisfaction. All of these work together to become your wealth. I have identified six cores that you have to build your wealth on.
Each of these cores have to be strengthened and harmonized if you want to build true wealth in your life.
But why am I telling you this? You see just like I wanted this couple to have the peace and security for their family, I want the same for you. The pain in their voice is a reality for thousands of couples who feel like their finances are out of control. There is nothing more rewarding than knowing that I have control over the future and finances for my family.
But the question that thousands of couples are still asking is- how do we get there?
This is where I can help.
I can personally join you on this journey. After every talk that I give I get at least one email from a young couple asking for me to help them get their finances organized. Because of this demand I wanted to create a program designed specifically for young parents that shares with them all that I have learned in my first 5 years of marriage and parenting. I wanted it to be an affordable and effective coaching program. I didn’t want to be a financial advisor in a Sear’s suit sitting in mahogany paneled office. Unfortunately most of these advisors are looking for people that already have money that they can invest. I wanted to help those who are not already wealthy to build the habits and mindset to be wealthy and to build the type of wealth they want. I wanted to create the type of program that works for the average person, the average family. I wanted to provide new parents with the short cuts, the blind spots and the wisdom that can save them thousands of dollars and hundreds of hours of wasted time.
Welcome to Designable Wealth.
A step by step coaching program specifically designed for new parents to organize their financial life and begin to build the wealth they can imagine. It is where I can bring all that I have learned and continue to learn to those on the same journey that I am on.
I have poured my heart and soul into the program and I am confident of the value that it can bring to you.
The program consists of 12 virtual meetings and 9 hours of one on one time in addition to tons of resources to help you on your journey.
You will learn how to track your spending, identify your core values and priorities, establish your financial goals, create a budget, get out of debt and most importantly establish a strategy to communicate openly and effectively about money with your spouse.
I am confident that after you take this course you will have the tools you need design your wealth. The question you need to ask yourself is how much is financial peace worth to you? How much are you will to pay to discover and design your wealth? The average person spends $280,000 in interest payments during the course of their lifetime. What if you had a plan to keep this money in your pocket?
It’s up to you to make the decisions that will impact your life.
What would your life look like 6 months from now? What kind of freedom could you have? These are questions that you must answer. Now is the time to design the wealth you want. Click on the contact tab to schedule a call today. I hope to speak to you soon.
Not ready to design your wealth?
Here are a few free resources to get you started on your own:
Follow me on Facebook and Instagram for daily inspiration for your wealth
Weekly Blog on topics that will help you build your wealth
Designable Wealth Assessment Quiz to see where you stack up
Personal Finance 101 Templates to help you get organized
Take Back Your Finances in 7 Days an eBook to help you start