30. 👑 The wealth advice you may have never heard

Libby says she sees this all the time with insurance. People who thought they canceled their payments and for two years didn’t notice $300 a month coming out of their account. Has this ever happened to you?

We have busy lives that can cause us to be distracted, which is why she recommends setting regular dates with your money. Then as things shift around your money you can change or adapt your strategy to fit with your new reality.

Be your own corporation. Libby refers to each person as their own mini corporation.

We have revenue coming in, expenses going out. We have utilities, mortgage, kids in school and then variable costs such as; uber eats, vacations, online shopping.

As a corporation you need to determine your short and long term goals. Libby is a huge proponent of getting your plan done because it forces you to get the data. What is your mortgage rate? How much are you paying for the things in your life? How much money do you have in each of your silos? What are the fees you’re paying?

It’s the same with business owners for subscription costs, software prices and freelance fees. Don't forget those free trials you signed up for that begin charging you in no time.

Libby says when she asks people what their costs are, it's not uncommon for them to have no idea because they haven’t studied their data.

Once you've collected the data around your money and determined your financial goals, you’ll be able to create a financial plan and program, either yourself or co-create one with a financial expert.

This is why having a regular date with your money is so important in your business and personal life. It will give you the data needed to be able to create, and stay on top of, a financial plan based on your unique needs and desires.

Increase your money IQ. Libby says over the years she has had many clients who've struggled with money conversations.

Sometimes it’s because their parents had poor money management and her clients are afraid they'll end up the same. There are so many different reasons people won't talk about money including; societal norms that speaking of money is tacky, not wanting to stress their kids, or worried about their kids knowing how much money they have.

She strongly encourages people to learn about and demystify money management. You can go on YouTube, or Google to search out teachings but she adds, you have to be a careful what country you're living in and find somebody who teaches from your tax jurisdiction.

When it comes to working with financial experts Libby says she’s been told by many people that they are intimidated by their broker, they don’t understand what their broker is saying, or think their broker is too busy to bother. Libby’s advice is “your financial people work for you and if they don't make that abundantly clear, go and find someone else that you like, that you trust, that understands you and where you're at financially".

Increasing your money IQ is the first step in learning how to make your money work for you and achieving your financial goals faster.