Financial Fitness for Women

by financialmom

in Financial Advisor, Financial Plan, Money

Post image for Financial Fitness for Women

This is the time of year (other than New Year’s resolutions) when women really think about fitness, as bathing suit weather is coming!  A lot of women, including me, are going to be very surprised when we jump right into summer (since Wisconsin apparently is skipping spring this year).

Don’t let yourself be caught unprepared when it comes to your finances!

Where to Start

Fitness starts with a decision to make a change. For women this often happens because some event occurred, or is about to occur, and we decide something has to change.  We become motivated.

The challenge for most women seems to be just where to start. I receive calls every week from women who know they need to do something about their financial situation, but have no clue where to begin.

Here’s where you begin. You have to assess where you are. The interesting thing is most women have at least a vague idea of where they want to be, but they have no idea where they are right now.

I know it can be tedious, but you have to do the work of assembling all your financial documents in one place.  Your first task is to put together a one to two page document that summarizes where you are today – your assets, your debt, everything.

Where You Want To Be

Now that you have a clearer idea of where you are, you need to decide where you want to be. This is the financial goal setting stage.  And I don’t mean vague goals like “I want to retire early,” or “I want to get out of debt.”

Every goal needs to have a number and a date attached to it. You need both short term and long term goals to keep the ball rolling.  Having only long term goals makes it hard to keep your focus.

Change Your Habits

Once you have the clear picture of where you are, and the written goals of where you want to be, you need to decide how you are going to get there. You may need to change some of your financial habits to get to your goals.

Typically you will find areas where you are spending too much money, and could be using that money for paying down debt, or investing for your future.  As Dave Ramsey likes to say, “Live like no one else, so you can [later] live like no one else.”

Stay the Course

Keeping fit is a daily commitment. Financial fitness is the same thing.  You need to keep your eye on the prize (your financial goals), and do the work every day.  If you make a mistake, don’t beat yourself up too badly.  Just resolve to do things differently next time.

Many women find this process overwhelming. This is where a trusted financial advisor to coach you can be invaluable.  I would love the opportunity to help you on your financial fitness journey.

Financial Fitness starts with a decision to make a change.

New Profile Pic 2599R Financial Fitness for WomenPamela Otten is CEO of Pamela Otten LLC, a Registered Investment Advisor. She loves to work with women business owners and entrepreneurs, and women in transition due to job change, death, or divorce. Pamela will help you set and reach your financial goals, educate you to understand your investments, and teach you how to do more charitable giving. Pamela is a Qualified Kingdom Advisor (, trained and committed to integrating biblical principles with her investment advice.

cc smallest Financial Fitness for WomenPhoto Credit – Pink Sherbet Photography

Financial Planning, Investment Advice, and Investment Management provided through Pamela Otten LLC, Registered Investment Advisor.

The opinions voiced in this material are for general information only, and are not intended to provide specific advice or recommendations for any individual. To determine which investment(s) may be appropriate for you, please consult your financial advisor prior to investing.


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{ 1 comment… read it below or add one }

Robert Seth May 14, 2011 at 5:34 pm

Nice article Pamela! I think it has applicability beyond women. We all need to do this on a regular basis. By the way, I think Spring is skipping Western Washington this year too. Thanks for the tip and the reminder!
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