Watch this video. If you’re like me, you’ll have to watch it several times to believe what you saw.

The wisdom of awareness often comes one minute too late. It’s easy to miss what you aren’t looking for, isn’t it?

Life is like that. We never think it is going to happen to us. Until it does.

• The day you get the doctor’s diagnosis.
• The day you lose your job.
• The day you become suddenly single.
• The day you retire.
• The day you realize you’ve lost 40% of your investments…again!

Want more guidance? Check out our article Women and Money Mistake # 1.

So how do you survive the attack of the bear market?

Be Aware: If you’re going to walk in bear territory, avoid unnecessary risk. Enjoy the journey, but travel prepared. You can’t predict if, when, or where you might run into a bear. Knowing how to protect yourself  before the attack is vital to your survival. Remember the saying, “Hope for the best, but plan for the worst.”

• Understand the unpredictable nature of the beast.
• Know your options.
• Know how much you are willing to risk.
• Have an escape plan. That’s what fire drills are all about.

Don’t Run. Start to run and fear will overtake you. You won’t win. A rational plan is made with a calm mind. Be aware, make a plan, adjust for current circumstances, and make a choice you can live with. Stand your ground.

Don’t Walk Alone. Making judgments in a bubble of isolation, listening to the financial news channels as your sole source of information, is not wise. Read articles contrary to conventional wisdom and try to understand things from a different perspective. Truth lies somewhere in the middle. A guide who has made this trip before has the wisdom of experience to advise you.

Do you have more bills than money at the end of the month? Do you wonder where your money disappeared? Are you afraid to open your credit card statements for fear of what you will find? When you do, are you shocked by how much you owe, knowing there must be a mistake?

The number one money mistake people make is also the easiest money mistake to fix. Awareness.

Awareness is the first principle of successful living and is the foundation for building a strong, secure financial future.

Money affects every facet of your life. Every single life transition (changes in career, health, marriage, retirement, inheritance) impacts your money and your future.

Not being aware of exactly how much you owe, what you have in available savings, what interest rate you are paying or receiving, or your life priorities, puts you at a huge disadvantage.

Let’s fix that. Right now.

How to Get Started on the Path to Financial Peace

Time for a wake up call.

First Step: Add up all your debts. Everything – credit cards, mortgage, auto loans, college loans, home equity line of credit,  any personal loans. Use actual balances, not monthly payments, to determine debt.

Second Step: Add up all assets. Equity in your home, retirement accounts including IRA’s, 401k and 403b, PSP, etc., bank accounts such as checking, savings, money market, cds, value of auto for what you could reasonably sell it for.

Third Step: Subtract debts from assets.  This is your net worth.

Determining your net worth is a valuable exercise in awareness and should be calculated every year.  If your net worth is not increasing from year to year, your future is in jeopardy.

Want another eye opener?  Look at your annual social security statement from a new perspective. Add up all the reported money you have made in your lifetime.  Where has it gone?  When you realize how much money has passed through your hands, you just may realize it is time to take control.

Awareness – The Key to Success!

Next:  Money Mistake #2 Payment vs. Cost

Needless money mistakes are made either because you don’t know what you don’t know or you practice the art of self-deception through the Ostrich Syndrome. There is a simple solution.

• Become aware of the issues.
• Transform information into knowledge; knowledge into wisdom.
• Make an action plan and dare to begin.

We can help.

Solid Information – Guidance You Can Trust

Our goal is to provide you with solid information you can trust without fear of someone trying to sell you an investment or an insurance product.

Over the next few months, the Swan Journal for Women will provide you with resources and information to end deadly debt and beneficiary blunders; to provide strategies for reducing retirement risks and dealing with sudden money. Credit cards, insurance coverage, beneficiaries, inheritance, retirement rollovers, IRAs, sudden money issues, security sandcastles and banking bloopers cause untold problems that we will help you avoid. So, it is your choice. Who are you?

The Ostrich?

The Ostrich continues to practice the art of self-deception by avoiding the obvious and pretending the problem doesn’t exist; or

The Swan

Secure and wise, you have aligned your values to your life. You know how to navigate from where you are now to where you want to be: financially secure and spiritually strong. You are free.

Sign up for the Swan Journal for Women

If you haven’t done so already, be sure to sign up for the Journal so you don’t miss a single post! The sign up form is in the top left corner of the blog. Learn more about the Journey to Swan decision-making process. Discover who you are, what you want, and how to get there. This SWAN decision-making process provides clarity, answers and empowerment for your future which can be applied to all facets of your life: money, relationships, health, career, and life-balance issues.

Resource: You Need a Budget

The Journey to Swan is the ultimate journey of self-discovery and awareness. Until we meet again, this is Lynn Shepherd, with Guidance You Can Trust.