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Money matters: Are you really on top of your finance game?

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Quote by T Harv Eker on financial thermostat karmic ally coaching



When I was a youngster, it was fashionable in my set of friends to be broke before the end of the month and then like a true group, we would pool in our resources and plan outings with minimal cost while we waited for our parents to shell out the next month’s pocket money.

It’s not unusual to look back at our carefree childhood days and remember the safety net that our parents provided. What we often forget is the money management lessons that they might have imparted too, including the scolding that preceded the negotiations and bargaining when one asked for extra dole outs.

My parents allowed me to ‘earn’ the extra cash by reading books from their amazing collection and providing them with book reviews. It is another thing that I developed a lifelong love for books and cannot imagine my life without my literary companions.

I’ve recounted the story in my blog post Negotiate to Win which is also a tribute to my late father who not only awoke a love for literature in me but made me understand the value of work as I earned my way to my first cassette recorder. It was also a lesson in financial literacy for me!

As an adult, I often wish I could do similar negotiations and tap into abundance but the truth is that one has to learn money management skills. I learned the income and saving part as a child. The expense side and figuring out how to balance a budget came soon enough when I entered the workforce.

One thing that I did learn early on is that how much we make is not as important as what we do with what we’ve got. In other words, getting the most out of our money is the key to proper money management.

April is Financial Literacy month and I’ll be focusing on areas of money and finance awareness. The objective of this blog series is to help you, no matter your stage of life, to start working towards achieving your financial goals. Some of your goals might require a certified money manager or an investment adviser to guide you. Those professionals will have a longer term view of your finances and the big picture and such decisions are outside the scope of this post.

Instead, we will look at your current stage of financial management skills to get you thinking about areas where you can help yourself manage your wallet.


Are you game for an honest financial practices self-assessment?

Everyone loves a good quiz and self-assessment. Let’s look at your financial practices.


Financial Literacy Self Assessment Karmic Ally Coaching

Financial Literacy Self-Assessment


Total your score: 0 points for each never; 1 point for each sometimes; 2 points for each always


How did your Money Management Score Go?

26 – 36 points suggests you are practicing good money management skills.


15 – 25 points suggests that you are doing well in some aspects of money management but can improve your money management skills – join me for my April teleclass.


0 – 14 points suggests that you need to improve your money management skills – join me for my money teleclass.


I  shared some more tips in my April 2016 teleclass on 3 important actions you need to manage your money. I invite you to sign up and listen to the replay. (Sign up for this free class below.)

So how did it go? Did you learn something new about yourself? Anything that you feel you can change this week? Do share in the comments box below! Remember to listen to the replay of my teleclass!


Finance teleclass invite from Karmic Ally Coaching


I want to get my money ducks in a row!

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12 Responses to “Money matters: Are you really on top of your finance game?”

  1. Tamuria says:

    I wish I knew you when I was younger and less money wise. I seem to have things worked out pretty well now (I did the test and scored 26) but it sure took me some years and some hardships to get it right. It’s great you are offering free resources, like your teleclass, to help people.

    • Karmic Ally says:

      We learn from experience, Tamuria. I wish I had known you too in our younger years! 26 is a good score. One way to improve on it is to see which of the other practices you can start using. It will make your money management even better. April is Financial Literacy Month and the teleclass is my way of trying to help.

  2. So much of my early life was focused on money, that I had to really release that issue and not obsess so much about it. I used to carry a little notebook around with me and literally write every penny I spend down in it. I was counting my money at age 5. I got a good score on your quiz and have committed to myself to be smart with money, but not to always focus on it. If I really want something in my life, like doing a workshop or even taking a trip, I now choose it, as a way of choosing myself. My parents always struggled with money and I think a lot of my early concern about money, came from them. It can still be a trigger for me, and I’ve learned it is possibly one of my doubles in my life and has a great ability to teach me about myself and myself in relation to others. Wouldn’t life be grand if money wasn’t our human issue! Thanks for the great post, Vatsala! You can see that money is just one of those issues I’ve arrived here to explore this lifetime it seems.

    • Karmic Ally says:

      Our early money memories are based on our observations of how our parents handled it and not many people realize how a cash crunch in childhood affects our own money management style ranging from being miserly to spending lavishly. The right approach is to find a medium path and treat money as a means to an end and not an end in itself. Thanks for sharing your experience with us, Beverley.

  3. Reba Linker says:

    Lovely post, Vatsala. I really appreciate your statement: “how much money we make is not as important as what we do with what we’ve got.” There is a drive on the internet these days to charge exorbitant prices for our services, as if that is how we validate ourselves – and I am having an ‘allergic reaction’ to that mentality, which I think goes hand in hand with our culture’s driving us to achieve outer markers of success – goals that might not even be our own! This is certainly a rich topic (pun intended) to explore, and thank you for giving some space to vent about a pet peeve! Blessings, Reba

    • Karmic Ally says:

      Welcome to The Karmic Ally Coaching Experience Blog, Reba. I do so agree with you about the internet drive. I would prefer being offered a product or service at a reasonable price point rather than one which makes me close the browser despite all those thousands worth of bonuses which I would never use. I read an article by a respected marketing professional sometime back advising people to stop doing it because the customer was getting wise to it.

      I’m happy you felt my blog was a safe place to vent a pet peeve. There are lots of other people who feel the same way.

  4. I am at a place in my life where money is not an issue. If we had more we would use it to help family more. It was not always the case & in my first marriage we had a fluctuating cash business & I did not know how to manage that.

    Often we think if I only have more income, then, but that is not the case. It really is about how you manage what you have. I had to learn this & got a good score on this test.

    • Karmic Ally says:

      With experience we learn to manage our money better Roslyn. I read a long time back that having more money would not help in saving because our expenses would rise to ‘fill the gap’ or rather we would spend more based on our purchasing power and this was visible in 2008 when a lot of otherwise high earning professionals faced their own financial crisis with debts that had to be serviced and low savings. I’m not surprised you got a good score!

  5. Kimberly Bost says:

    I love that your parents paid you to read books and report on them! I may try that around here, although my son already loves to read…
    I definitely have some things I can improve on! I, too, wish money weren’t a human issue! Since it still seems to be, it’s wonderful you are doing this!

    • Karmic Ally says:

      I sometimes think my parents used it as a double ploy to make sure we children watched less television and discover the world of literature while ‘earning’ our extra pocket money, Kimberly. 😉

      Money is an energy and currency to help us get what we really need but in today’s world, it seems to be an end in itself. Managing what we have and appreciating the true abundance of life makes the going easier.

  6. Denise says:

    Very timely! Thank you for a non-intimidating financial/ personal growth post. I thought your quiz was very good and helpful.

    • Karmic Ally says:

      Welcome to The Karmic Ally Coaching Experience Blog, Denise. I’m glad you found the quiz helpful. At my blog, I try to keep things non-intimidating. 🙂 The idea of creating pain for the reader and then jumping in with a Super Hero solution isn’t my style. 🙂

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I believe the world would be a better place if high achieving professionals accepted setbacks and challenges to their careers as Wake Up Calls to embark on a Journey where their empowered course correcting actions create a New World Order that encompasses achieving their career aspirations & potential with authentic life balance.

I work with driven, passionate, talented and ambitious professionals who’ve hit a speed breaker in their business or career create their desired breakthrough reclaiming control of their situation with customized strategies and tactics that deliver results.

When my clients first reach out to me, they are not in a very happy place, needing clarity about themselves, their desires, chosen vocation and what will give them peace of mind. They are drawn to me for the very reasons that I highlight in Who Is Karmic Ally Coaching.

Their professional problems are playing havoc with other areas of their life. They know they need to take radical steps to change the status quo but they also know they need support and accountability to get them their desired result.

I really get it, because I’ve experienced that dark night of the Soul. I know firsthand the outcome of getting lost in my work rationalizing decisions that were detrimental to other aspects of my life.

I’ve struggled with and won battles of stress management, corporate politics, life balance and career decisions to emerge in a place where I can confidently say that I live my desired life according to my personal Manifesto and have created a business that provides me with a platform for my desired lifestyle and self-expression for myself. I want that for you too!

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Email: Vatsala(at)karmicallycoaching(dot)com Phone:91 9818517664
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