Matt Sapaula is a financial coach, host of the “Money Smart Show” podcast and Chicago’s coach on MSN’s “The Invested Life.” Sapaula, a proud member of the U.S. Marines Corps, says he understands the financial plight of some single moms because he, too, is a single parent.
“I didn’t learn about money until I got out of the military after serving eight years on active duty and after two years in the reserves,” Sapaula tells rolling out during a visit to the Chicago office. “It took 10 years for me to figure out how to handle my personal finances.”
Here, Sapaula offers three tips for women to take control of their financial situation.
1. Be proactive about your pocketbook now, or you will pay later. “For some women, money is a very confusing topic and is intimidating, and oftentimes, women may sweep things under the rug thinking that money problems will heal themselves,” Sapaula explains. “Bills, lack of investment, and a lack of planning for the future will catch up to you.”
2. Get a financial coach to help you to understand and correct your financial woes. “Dealing with money in isolation is one of the worst situations that you can put yourself into.
3. Avoid broke people. “Surround yourself with the right people, who earn what you wish to earn. If you want to make $100,000 [per] year, surround yourself with $150,000 [per] year people. If you don’t, you’ll end up having the broke person kill your dreams.”
Video: Matt’s Advice for Women
Matt Sapaula is on Twitter @MattSapaula.