MANGROVE REALTY ASSOCIATES
Lori Madden, MANGROVE REALTY ASSOCIATES
Email: [email protected]

Learning to be Financially Responsible

by Lori Madden 06/02/2019

Budgeting is not always an easy chore to keep up with but making sure you are aware of where your money goes, and how much you need to cover your monthly expenses, is something you need to be on top of. If you are in a relationship and share the finances, then budgeting gets that much more challenging. Open and continuous communication can help you in the budgeting process, but what really helps is when a couple has shared financial goals and a similar view of the value of money. 

Past to Present Money Matters

The attitude about money that you grew up around shapes how you view and act with your money. Whether there was a lack of resources, or there was always more than enough to go around, this past experience makes up your view of money. You may have been taught that to be of worth, you need to be making a certain amount of money. Or maybe you were told that if you wanted something you needed to go out and earn money to get what you wanted. Or you could have watched others around you waste their money and then suffer later for lack of savings. Whatever the circumstances that led to your current thinking, you can change a poor attitude about money or build on a good sense of financial responsibility. The key is to understand that money in and of itself is just a tool. 

Economics 101

Money as a tool means you need the knowledge of how this tool works and then some idea of how you want to use it. The bigger picture of how money works in the world is what macroeconomics explains but what it comes to is this; supply and demand. For example, when you go grocery shopping, you take what you want from the store, and as you leave, you give them money, something both parties agree has value. 

Master the Right Tools 

If you are part of a couple, find a way to talk through each person’s ideas and feelings about money. Keep in mind money is a tool and you are in charge of telling it where to go and what to do. Master the tools for money management and build your future together. 

Pick a time this week to write down what you think about money and where your money philosophy comes from.

About the Author
Author

Lori Madden

As a Florida native growing up in Sarasota, I have seen my hometown grow from a sleepy coastal town to a highly sought-after destination along the shores of the Gulf of Mexico. After working in Chicago for 5 years, I returned to Sarasota and saw it through a new lens and really began to appreciate what makes Sarasota so desirable, including temperatures that allow for year round outdoor activities including tennis (a personal favorite), golf, boating, kayaking, fishing, paddle boarding, or just relaxing and/or shelling on our pristine sandy shores, including Dr. Beach’s #1 beach in the United States for 2017, Siesta Key! Sarasota’s cultural amenities are many and diverse, appealing to a wide range of arts lovers. Downtown Sarasota has become a destination in itself, drawing many new developments for those who want to be within walking distance of Main Street's offerings and the picturesque bayfront and marina. Foodies will find an eclectic mix of locally owned and operated restaurants offering something for everyone, and there are now Farmers Markets every day of the week in various locations throughout Sarasota, but the Saturday morning Farmers Market in downtown Sarasota draws the biggest crowds. Since 1988, my passion has been selling real estate, representing both buyers and sellers. I have been recognized by my clients and customers for an uncompromising work ethic and dedication to helping them achieve their real estate goals. Relying on my experience as a real estate paralegal and being highly organized, I am able to help make the transition between contract and closing a smooth one for my clients. With an eye for interior and landscape design, I've been known to pitch in and help Sellers minimize and/or reorganize their belongings in order to stage their home to maximize its sale potential. I specialize in out of state buyers looking for their piece of paradise along the Gulf Coast and make it a priority to keep them up to date on our quickly changing local real estate market. I welcome the opportunity to share with you all Sarasota and her surrounding islands have to offer!