Overview: 

Introduce you to the concept of budgeting with the understanding that your financial decisions are dependent on your emotional behavior.  

• Women tend to set goals using their emotions as much or more than logic. 
• We’ll discuss how budget making relies on 80% emotion and only 20% math. 
• We’ll show how the logical SMART goals need to be adjusted to accommodate the emotions of WOMEN. 

Benefits:

• Use our natural emotions to better manage our money decisions
  • Work with our given strengths and not against them
  • Creates a comfortable environment for money discussions
• Encourage you dig into your saving and spending habits
  • Find areas that are holding you back from succeeding at your goals
  • Can’t fix what we don’t know or understand
• Focus on achieving the life you want to live
  • You don’t want to have “bag lady syndrome”
  • Allows you to grow toward your goals
  • Be secure and independent
  • Comfort and confidence in yourself

Videos

The Pareto Principle 

Key Points

• We need not only our logical thinking, but also our emotions to create goals that resonate for us
• If we align our spending with what is important to us, we can improve our overall happiness and will being
  

Setting SMART Goals 

Key Points

• This is the rational way of making a decision or setting goals
• Logically, this structure gives you the focus and direction you need to achieve your goal
  

Setting WOMEN Goals

Key Points

• Using your own emotional words gives you ownership that you can apply to your decisions
  

Join the exclusive SMARTER WOMEN CommUNITY

Once you have completed this course, you'll be smarter than when you started. We'll be here to help you continue your journey. You'll be able to join our SMARTER WOMEN CommUNITY on Facebook where you will:

• have discussions with other SMART WOMEN
• encourage each other in your budgeting journey
• hear from Pam and Catherine with FB Live Sessions
• and MORE!

Groundwork Questions

Here are some questions and possible answers to get your juices flowing. In your workbook, write down your thoughts and feelings around these ideas. There are no wrong answers! Choose what fits you best - an emotional or rational answer.

1. What is the benefit of setting a SMART goal?
   1. You intentionally define something important to you
   2. You have specifics to help you reach your goals
   3. You become a smarty pants
      
2. How does adding WOMEN emotions help define your goal?
   1. Because money is emotional
   2. Emotions are information that can propel you toward your goal
   3. Because Your Financial Mom said so
      
3. What is an area in your life where the Pareto Principle applies? Twenty percent - 20% - of your effort equals 80% of your gain.
   1. Food 
   2. Clothing
   3. Budget - 20% about the numbers and 80% about the emotion
      

Workbook Activity

Now that you have thought about the SMART WOMEN concepts, let's practice! Work on the activities in your workbook on page 7.

Here are some Goal Examples to help spur your imagination.

• Make no more than two trips for groceries per week.
• Spend less than $100 for all the kid’s school supplies in August.
• Cut down to two total streaming services per month, excluding Amazon. (We're just being real here - and attainable!)

Once your goals are defined, put them in a place you will see them every day.