Does everyone in your family know how to manage money?

You won’t believe the number of stories I hear about husbands passing on and either their widows know nothing about money and spend like it is going out of style, or they realize the financial pickle their husbands left when they passed but very covertly covered up.

So. Many. Stories.

The bottom line is if everyone in your family is unable to manage money, you’re going to create problems even though you squirrelled away millions and feel as though it is enough when you die.

If you can’t manage $100, you can’t manage a million.

Money management or financial literacy is LEARNED.

Everyone has to learn it. Everyone!!!

Just because you have money, come from a rich family or become rich overnight (lottery) or via work, doesn’t mean you know what to do with it.

Just because you are educated or come from a good family doesn’t mean you know how to manage it.

You need to learn it and everyone around you needs to learn it.

What’s the point in making all this money thinking you set your family up for life only to after you pass, watch then basically destroy it?

(Well in hindsight you’re gone so maybe it isn’t something you’d think about.)

If you don’t educate your spouse, your children and make sure that they learn basic money management and principles, you are part of the problem.

They may not want to learn (initial reluctance to take over this adulting responsibility, or maybe they think it is too difficult or a “man’s” domain) but this is utter nonsense. Persevere.

Even with your kids – you may be “protecting” them but you’re really not. You’re handicapping then for the future and for their life, even if you have millions to pass on!!

As for women – LEARN about your money so you can be independent. So you are confident, secure and a badass woman no matter what happens because at the end of the day you cannot rely on any one else

Your spouse, your parents, your siblings, your cousins, your children, your friends, the government —- I don’t care who they are – you CANNOT and SHOULD NOT rely on them or put the burden on them to take care of you.

Ultimately you have YOU at the end of the day. If someone offers help, that’s great! Accept it with grace and gratitude and be thankful you’ve got an amazing network.

But don’t rely on it. You don’t know their situation or the demons they’re fighting. You may see superficially that they’re doing well but maybe they’re like swans, paddling like queens and kings but kicking furiously underwater to stay afloat.

Rely. On. YOURSELF.