5 Tips to Improve Your Wealth in 2016

Did you know that women control 27% of the world’s total wealth, regardless of the source, whether they created it themselves, inherited it, or manage wealth created by their spouse. The numbers are staggering.

Whether you are single, married, or divorced, it is time to take control over your financial future. Improving your ability to build wealth is not only good for you as an individual, but is essential for the economic well-being of your children, families, and communities.

You educate a woman you educate a community.

You can start the new year off on the right financial footing, and give yourself a little boost on any money-related resolutions you might want to keep next year.

Five Tips to Improve Wealth in 2016

1. Be curious. Knowledge is empowering and ignorance promotes dependence. Knowing how to manage your personal finances is a wholly necessary skill. Take advice, by all means, delegate, but please do not give up on your financial responsibilities.

2. Let go of the Cinderella story and the lottery win fantasy. It still surprises me how often intelligent women can cling to fantastical expectations which completely handicap them when it comes to real financial planning. Ladies, no man will save you for financial problems. There is a price to pay.

3. Invest in your health. Focus on your physical, mental and social well being. The real wealth is in the health and well being of your body, mind and social interaction. While the increase in disposable income may translate to a higher standard of living, it could also lead to increasing health issue.

4. Set daily goals and devise an incentive plan. “Resolutions, by their very nature, are goals, but they too often take the form of broad proclamations that lack both specificity and a plan for implementation. So, rather than setting high-level, abstract goals, determine what daily habits you’ll need to change in order to gradually improve your financial situation and develop incentives that will prevent you from abandoning your quest prior to fulfilment

5. Keep good records. If you don't keep good financial records, you are probably not claiming all your allowable income tax deductions and credits. Set up a system and use it all year. It will help you when it's tax time.

Remember, the sooner you take charge the sooner you can start working towards achieving better results, especially in the long term.