Words: Annelise Bretthauer, CFP®
Money is a tool for intentional living. The physical piece of paper or number on the computer screen isn’t what’s valuable, it’s the options, the experiences, the nourishment that money can offer that’s meaningful. Financial freedom is empowering and thriving financially lightens our stress load.
For those of us managing chronic illness, money can feel heavy. The cost of management doesn’t end at the doctor’s office, it includes the lifestyle changes, food, supplements, mental health challenges, adjustments our family makes, the list goes on and on.
We build our team of care partners that include our doctors both traditional and alternative, our support system between friends, family and therapists and even the administrative staff at our health insurance company or doctor’s offices but we forget an important voice. Your financial partner.
The thinking partner that helps you make a financial plan, implement the plan and adjust when life hands you those inevitable twists and turns.
If hiring a financial thinking partner isn’t in your budget yet, that’s entirely okay! You can start with this simple weekly habit to start building wealth. Have a financial planning meeting with yourself (and your spouse) every Saturday to look over your spending from the previous week.
This habit is key to building wealth because it gives us an opportunity every single week to course correct.
The credit card bill becomes overwhelming because it’s almost impossible to know how much we’ve spent during the month if we haven’t been keeping track. Having a financial planning weekly meeting with yourself (and your spouse) gives you the opportunity to hold yourself accountable.
Here is how to do it:
Look at every transaction that occurred over the past week and ask yourself these 3 simple questions.
1.Does my spending align with what is important to me? For example, if nutrition is important to you and you see that you spent very little at the grocery store but your shellac mani pedi looks great, that may be a place to take note.
2.Am I on track to spend less than I earn? Am I saving money? Our savings goals will be different, some of us may save $10 a week and others may save $1,000 a week. The important part is that we have a habit of saving money to build wealth.
3.What adjustments do I need to make for next week? Maybe you know you have a large expense coming up so this week is a, “make coffee at home” week and save where you can. Maybe it’s as simple as just overspending last week and now you have the opportunity to adjust. Or maybe you were very diligent and this week you give yourself permission to treat yourself with something you don’t usually buy next week.
As chronic illness warriors, we’ve all worked through struggle and pain towards creating a lifestyle that better supports our body. I support you to do the same for your finances. As spoonies, we understand intimately that life is a marathon, not a race. Building positive financial habits starting in small simple ways allows us to use the money to live more intentionally.
About the Author
Annelise Bretthauer is a CERTIFIED FINANCIAL PLANNER™ professional and business owner who helps families navigate their world when facing chronic disease. She is a Crohn’s Disease warrior herself and is on a mission to further conversations about money and personal finance in the chronic disease community. Along with working one on one with clients, she is creating a number of free courses and a personal finance guide planner for our community. Join her tribe at www.RiseUpFP.com or follow her on Instagram @AnneliseBretthauer to be the first to know when these resources launch.
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