Dear Girlfriends,

Most women are surprised to learn that even though I run my own businesses, I haven't paid a bill in over nine years. This situation leaves me in a precarious position. If something happened to Steve - my CFO for all three companies and the Miller household - not only would I be devastated personally, I would be paralyzed financially. So feeling this vulnerability recently, we scheduled a family meeting for a little tutorial.

I admit I was totally lost when he opened Quicken TM. But after a few minutes, I was pretty confident that I could do this, again. Of course, managing the finances and dealing with payroll for the companies is a bit more complex, but at least I know I could cobble things together in case of an emergency. Could you? Or, could he?

In many families, one spouse or the other takes care of managing the family budget. But it is the one who has forfeited this task that suffers greatly in a crisis. Talk about compounding a problem! If something happened to one of you - don't you agree that managing the budget and locating your investments should be the LAST thing that surfaces as a worry or a challenge?

I'm not a detail person. To me, balancing the checkbook and paying bills is like watching paint dry. I don't plan on taking over this duty (much to Steve's relief), but I'm comforted to know I can if I ever have to.

Could you use a refresher course? What about your mom or dad? Could they benefit from a quick walk through of their investments, statements, and commitments?

Step five in securing your freedom to choose: Liberate yourself from ever saying, "I don't know how. He took care of the money."

Re-learning the basics,
Ellen

Posted by Ellen on March 6, 2007 11:55 AM  |  Category: Work/Life Balance and the Debit Card