Money Musings 💭 I want to celebrate YOU!
It’s time to celebrate!!! 🥳
We did it! Regardless of how messy, different than planned or [insert descriptor here] your year turned out, you did it. Another trip around the sun.
It’s so important to celebrate how much you’ve accomplished and grown in the last year. I asked you to share your wins, big and small, and there is so much to celebrate. 👏 👏 👏 Here are some highlights:
Added one month to the emergency fund
Used savings to take time off work
Opened a Roth IRA
Started an emergency fund
Hit a savings goal
Earned a 32% pay increase in 2 raises
Lived below means
Saving $20 per month for daughter
Hit $50K in 403(b)
Paid down debt / made progress on debt
Negotiated debt to manageable payments
Paid off a medical bill
Maxed out HSA contribution
Bought a washer and dryer
Living on one income so husband can stay home with daughter
I am so grateful that I get to join you on your money (and life) journey. In 2023 I'm excited to celebrate your wins with you and support you when there are bumps in the road.
Here are some of my highlights this year:
I launched my second book, Financial Adulting
We added two new team members to the Fiscal Femme team!
I implemented a 4-day work week (wrote about it here!)
I took multiple vacations where I didn't work (this might seem small but it’s a big deal for entrepreneurs!)
I completed my CFP education requirement (more on this soon!)
We grew our support system at home so we could continue our weekly date nights and generally spend more QT as a family
I discovered family I didn’t know I had and applied for dual German Citizenship (results still TBD!)
Feeling grateful! Here’s to another great year of financial adulting together.
MONEY MOVE OF THE WEEK
SET YOUR MONEY INTENTION FOR 2023.
New Year, fresh start.
If you were to sum up your ideal financial life in one word (or even phrase), what would it be? 💰 There are no wrong answers.
Ease? Freedom? Confidence? Whatever you choose, you want this to be a word that elicits a positive emotional and physical response. It makes you feel good.
Mine is satisfied.
Remind yourself of this money intention often. Make it the background of your phone, have it pop up with your morning alarm clock and share the word with your money buddies. Make it a good one, because when we set intentions they usually come true!
YOU GOTTA SEE THIS
DEFINE RECESSION MARKET BUZZ WORDS.
If you know me you know I can’t stand most financial jargon. It can make important financial concepts unnecessarily confusing and unapproachable (I've been known to rename jargon words with more fitting names 😆).
Given the stock market's roller coaster state (to say the least) over the last few months, I’ve heard a lot of investing jargon thrown around to describe what’s happening. I wanted to demystify some of the words here in case you run into them!
Market volatility. Think turbulence. A lot of ups and downs. ↕️
Bear market. When an index, stock market or bond market is decreasing. Usually 20% decrease indicates a bear market.
Downturn. A period of stock market decline.
Correction. A decrease (often of 10% or more) in an investment from its highest price. The trajectory usually continues upward after the correction. The idea being the price was too high and needed to be "corrected."
Panic selling. A selling of investments (often widespread) due to fear or panic. Often based on rumor rather than analysis.
Sell off. A large amount of a certain investment or market as a whole is sold within a short period of time. This will typically result in a decrease in prices.
Any other words you'd like explained? Hit reply and let me know.