Accredited Investors Wealth Management®’s Post

Financial enablers are those who provide money in a manner that shields the recipient from taking responsibility or achieving independence. To clarify, I am not referring to supporting minors, I am specifically addressing situations in which an adult child, relative, or friend is capable of working or financing their own lifestyle but chooses not to or is too lazy to work and earn their own money. While there is nothing wrong with being generous and helping others financially, enabling sends a message to the recipient that they're not capable of doing things on their own. As a result, they lack ambition and purpose. In the long run, this condition harms not only the enabler’s finances but also the financially dependent individual, who never learns to be responsible with money. Here are some signs that you may have transitioned from generosity to enabling: 👉🏼You have given so much and so often that your loved one is no longer trying to make it on their own. 👉🏼You give money to others even though you can't afford it, or even though it harms your own financial stability. 👉🏼You feel a sense of resentment or anger about giving the money but don't know how to say "no" when asked for more money. If you're unsure whether you're crossing the line between generosity and enabling, ask yourself these questions: "Will this monetary gift help or hurt?" "Will my giving make this recipient more independent or more dependent?" Things like education, career counseling, etc., will move a recipient toward independence, but bailing out their credit card debt is not helping. Do you think you've been a financial enabler? Happy Thursday! ©LiftedFinance #moneydisorder #financialenabler #chosetosayno #generousity #financialdiscipline #highlights #personalfinance

I Felt Like Crying. When I Held My Baby Girl In My Arms! It felt out of this world. Many individuals delay building a family due to financial concerns. I’ve always told my clients - “Money Should Not Stop You From Building Your Family.” While it's important to be financially prepared, it's equally crucial to remember that family is about much more than money. It is one of the most emotional and relational aspects of life. The love and companionship shared with family members are irreplaceable treasures that no amount of money can buy. The support and encouragement from a loving family can uplift you during the toughest times. Think about the moments that you’ll spend together, the laughter you’ll share over meals, the comfort of a hug after a long day, and the joy of watching your children grow. These experiences create bonds that become the foundation of a strong family. The memories you create, from simple everyday activities to significant life events, become cherished moments that last a lifetime. Remember, your family can enrich your life in immeasurable ways, far outweighing any financial concerns. So, don’t focus solely on finances when it comes to building a family as it will overshadow the joy and fulfillment that it brings. All you need to do from the financial lens is to assess your finances, create a budget, and build an emergency fund to provide a safety net. As a CA and financial advisor, I can help you create a balanced financial plan that supports both your financial goals and family aspirations. #FinancialConcerns #Family #CA

"When you’re neurodiverse, community can be a big resource for getting your finances in order. You don’t have to tackle financial wellness alone, and opening up a discussion may provide reassurance about where you stand.” #BraveWealth #BraveTribe #BraveCollective #neurodiverse #neurodiversity #finance #PersonalFinance Read more now: https://bit.ly/3wDjNPi

DEPENDING ON "RICH" FAMILY MEMBERS It feels like I saw them as a getting money opportunity instead of thinking of making mine. While I was in school I saw collecting money from those older than me as an easy way to go through school and this limited my thinking of earning extra, although I appreciated every helped I received on the way, but I had to outgrow the mentality that immediately I'm broke I've to look for someone to call for money. This mentality is called the entitlement mentality whereby you feel you deserve to get the things you ask from people and if you didn't get it, you tag them as being wicked. I have this family member that not every time I ask him for money I get it, at times he told me I wasn't in his budget, I remembered a time I wanted him to lend me a particular amount of money, and I think he asked for interest or something or he didn't accept, I really cannot remember. I felt he was wicked and I didn't like it at all, but growing up financially has made me understand a lot about money. These experiences made me to start asking myself how I could make money and things I could do stop my depending on people for money. I've realized that this is actually a society thing where we expect to get money from our "rich" family members at times without being considerate, it took me intentionally learning before I could outgrow such mentality. Not that people or family members shouldn't help, but we shouldn't get to the stage of a total dependency. Outgrowing that mentality made me to start taking certain responsibilities and learning certain financial lessons. GIVING WITHOUT BOUNDARIES I understand how important giving is for us as believers but it's important to learn to set boundaries in giving. One bad money mistake I made was borrowing to give someone or borrowing so I could lend them money. It was a very bad decision and I had to deal with the consequences. I know you've a good heart and you always want to help but I think there should be a place of setting boundaries. Certain people would take advantage of your constant giving and just like me, some people would be totally dependent on you instead of taking certain responsibilities. I hope you've learnt something? If yes, I'd love to learn what stood out for you in the comment section. Thank you. #themodupeblessing #moneylessons

Although its not nice to think about, how would you manage financially if someone in your family was unable to earn money, or became ill or were to die prematurely? We explain how you can financially protect yourself and your family and safeguard the wealth you have built up over the years. https://lnkd.in/eishbTuR

Trying to keep up in social situations where you’re expected to spend, spend, spend can be stressful, writes money expert Talia Loderick. Here are some things you can do to ensure you meet your financial goals without being a party pooper #moneysavingtips #financialgoals #moneysaving #savingtips

Unexpected life changes knocked Amy for six 😔 Read on to hear how Amy went from a six-figure business to a negative net income. Last week, I finished working with an incredible mother of four. She had previously built a thriving business and lived life on her terms. During the pandemic that fell apart with divorce adding to the stress. Leaving her with no income, low confidence and feeling like a failure. 💡 StepChange Debt Charity reported that the pandemic saw more people than ever before entering debt for the FIRST time in their lives. I know you can imagine how this must feel - going from being at the top of the mountain to having to ask for help. This is more common than you may expect. Many of your “contacts” are struggling to make ends meet, and lack the confidence to do what they may have been doing before. Financial problems impact not only your bank balance but also your confidence and self-efficacy, especially when thinking about shame and embarrassment. A MAJOR part of my work over at Mind Over Money® is working with people to: ➡️ First: build the confidence and self-belief to make a change. ➡️ Second: upskill and fill the gaps in their finance knowledge. ➡️ Third: send them on their merry way, hoping they never return! Amy pushed through the discomfort to look at her bank account, ask for financial support and invest in learning to develop new skills and get back into making money. In the next few weeks, she will generate an income through property and not rely on financial aid. ⁉️ Are you aware of the connection between crippling confidence and financial problems? #Money #Business #Confidence #FinancialWellbeing #FinancialEducation #MindOverMoney Mind Over Money® ============= Ring the 🔔 on my Profile to get more insights on: 🧠 Money Psychology: Why We Do What We Do 💪🏽 Financial Avoidance and Control 🚀 Ethically Earning and Charging More 💸 Data-Driven Biz Optimisation ❤️ Financial Vulnerability  ——> Helping you improve financial wellbeing and support through strategic interventions. 📧 Send a DM to hear more about my work.

You can’t control how your loved ones manage their money ... Influence, yes, but control, no! Because we all know that when it comes to finances, some people take better care of their money than others ... Some people have the habits of a spendthrift, some people are frugal, some are generous, some are stingy, some are inexperienced, some are responsible etc. For someone wanting to make their Will, a loved ones’ relationship with money can be a huge source of concern and cause them to delay getting their affairs in order❗️ While there may be a strong desire to financially provide for family members (like a spouse, partner, children), you may get stuck on how much to leave them because of the very real risk the wealth you have diligently acquired could be misspent. But fear not ... I routinely let my clients know that they don’t have to leave money DIRECTLY to their loved ones. They can instead make use of Trusts. ➡️ A Trust arrangement can leave more financially responsible individuals, or professionals, in charge of managing the inheritance of your loved ones, amongst other things. So don’t have to let the questionable financial decisions your loved ones have made in the past (or continue to make) delay you from making a Will and getting your affairs in order. Send me a message, if you would like to know more about Trusts, or getting your affairs in order. #Wills #Trusts #EstatePlanning

Playing your cards close to your chest. Well, when it come to money, some families take that to heart. But is it really the best or only approach? Think about it - why do we treat money like some clandestine affair, shrouded in secrecy? Has that been a cultural relic, passed down through the generations?  It often is the case. And more importantly, does this cloak of silence still serve us, especially when we're planning to pass on wealth to our children? It’s time to question the relevance of this tradition. Staying quiet about money might have seemed the right way once but in today’s world where financial literacy and responsibility are expected, is it doing us any favours? Especially, when we expect our heirs to not just inherit the wealth but to manage and grow it wisely. It’s time to rethink the secrecy strategy. Instead of leaving these conversations to chance or sitting in the Solicitors office, let's proactively engage in wealth transfer planning. It's not just about the numbers; it's about the narratives, the intentions, the values that shape our family's legacy. I think your family will thank you for proactively talking about these things just as much as the facts and figures. Imagine receiving your inheritance without ever understanding its origins, its purpose, or the values it represents. It's like receiving a key without knowing which doors it unlocks. Without open dialogue, we risk leaving our loved ones adrift, uncertain of their responsibilities and the significance of the legacy they're meant to carry forward to the following generations. So, why wait? Break the silence and start those conversations today. Whether your fortune is vast or modest, the stories behind it are invaluable. Your family deserves to know, to understand, and to continue the journey you've embarked upon. Let's rewrite the script on money, making communication an essential part of our multigenerational wealth. If this resonates with you and you’re unsure how to start – why not schedule a 60 minute clarity call with me. We can look at what are the key issues you want to communicate and how best to do that.  Email me on linda@culbonecoaching.co.uk to arrange today.

#PersonalFinance | The phrase that may best sum up the conundrum is – between a rock and a hard place. This is the woes of Generation S or the Sandwich Generation or people who have their parents on the one hand, their children on the other and themselves in between. Experts guide these strained souls on how to manage their finances to care for their parents, support their kids and tide over for themselves too.