Why we would rather talk about our Sex Life than our Financial Situation


If your Financial Plan is your spouce, You’d better get your head out of your Sandy Ass.

Yes, I am one of those, you know, one of those women who never kept track. I’ve always made money and I’ve always spent money. Occasionally over the past 30 years, my husband would bail me out of a large credit card and then I’d go on feeling lighter for a few months and then back at it. Spending more than I made. Not tracking anything really. But one January 3 years ago, I decided to see if I could actually WAKE UP Financially and see what that looked like.

Well here’s what I discovered.
Money was a huge Blind Spot for me. I decided at a very young age that I would never financially rely on a man, and honestly need a man. (events from my past that formed this limiting belief) So I proceeded to make money, spend money and not pay attention to it.

At the time when I wanted to see just how ‘screwed’ I was, I was so far in debt, more than most of you reading this combined with your spouse’s debt, that’s how far I was. And here’s what I did to pull myself out of it.

I had to openly admit I was screwed Financially and that was hard so I went looking for advice from 3 professional sources.
• My business banker
• My Chartered Accountant
• And a Financial Coach (to figure out how I see money as an energy in my life)

I started immediately to keep every receipt (with no judgement or guilt of spending) from everything I spent for one month. This analysis alone will floor you. But it’s probably the best thing you could do for yourself. YOU HAVE TO GET AN HONEST REAL PICTURE OF WHERE YOU ARE AT AND WHAT YOU SPEND DAILY.

Then I looked at what I had saved for my retirement, what I had for contracts on the books going into that year. As I work for myself, I do not have a regular paycheck to rely on. Let alone a regular RRSP contribution. I took this info to my CA and he literally laid out a plan for me to pay off the highest interest cards I had, cut all of them up and put me on a small monthly salary. I wiped out my personal overdraft, as I was never out of it working with ‘real’ money. I figured, I lived the same way in my overdraft, I could live without it. My banker did not want me to do this but I did. (Cut that interest and extra fees)

I sold my new Jeep, bought an old reliable car and backed out of a huge monthly car payment. Stopped buying so many groceries and wine. And crashed some of my RRSP’s (I know not the best thing to do) and paid off all my credit cards. By July I finally had for the first time in 22 years. Actual money in my business bank account. I went from having 4 credit cards to having one for travel, hotels, and rental cars.

And I learned how to open an excel spread sheet. Go figure. I cannot tell you how liberating it is to look at your financial picture and feel proud about yourself. No one ever wants to talk about money. We’d rather talk about our sex life than talk about money. That’s where my Money Coach came in. He had me look at how I see and value money. What it actually means to me. So over time, I started to see it differently.

I am not a financial guru, but I am willing to look in the mirror. So my question to you is, are you willing to?

Linda Edgecombe, Hall of Fame Speaker
[email protected]

Linda Edgecombe
Canadian Speaker Hall of Fame