The Sidechick Financial Plan: Money Lessons from Olivia Pope

Let me start with a simple yet important statement.  Ladies, we are financially responsible for ourselves at every  relationship stage no matter whether you’re married, separated, single or the “side chick”. *Thoughtful Pause* I should take this opportunity to discuss how you deserve to be so much more than some man’s getaway when he’s angry with his wife.  I should be telling you not to be his plush pillow when he wants to escape his responsibilities  or his sounding board when he needs to vent.  I really SHOULD tell you how bad it is to become the backbone to a man who doesn’t have the courage to leave his responsibility.  I really should just say that cheating is wrong!  Oh wait… I did just say it huh?!  Oops!  Let me just stick to the subject that I set out to discuss.

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Like half of America, SCANDAL (yaaaaaas!) has all of me right now.  Without fail, every Thursday night I tune into ABC in full support of Shondaland and all it’s side chick shenanigans. But by 11:04 PM I’m denouncing their behavior faster than Olivia Pope answers that burner phone she got courtesy of Fitz.

This past Thanksgiving I got to thinking about how foul ABC was for depriving us of a new SCANDALicious episode.  At that very moment it dawned on me that Queen Side Chick (Olivia Pope)  is actually a great case study. *cues royal music*  Liv is actually very smart with the way she has taken control of her finances.  She could actually teach women everywhere a thing or two.  So in honor of Scandal, here are some Money Lessons From Olivia Pope.

1. Master Your Craft:

Olivia is well educated and experienced in her field of study – law.  She is such a strong asset that she seems both in-expendable and unbeatable.  You have to be so good that  people seek out your talent and pay top dollar to have you on their team.

2. Become a BOSS:

Many girls grow up with the “What’s his is mine and what’s mine is mine” philosophy. With both divorce and unemployment rates climbing, we simply don’t have the luxury to think like that.  Liv has made her own money, started a successful business, accumulated a collection of killer contacts and built a stellar team, all while wearing a designer trench coach (all hail the gladiators in suits).

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3. Have a Back-up Plan:  

It’s always smart to have a back-up plan (preferably one that includes getting your own man) but … moving right along.  Miss Pope’s has a wall safe in her office with all her emergency stash in it. It’s always wise to prepare for financial set backs and keep a stash of cash some place safe where it can be accessed quickly.

4. Plan for Retirement:  

It’s unlikely that you will be joining Fitz and Liv in their extravagant Vermont home.  But you should be planning for your own retirement.  A 401(K) or Roth IRA are a great way to begin planning for your later years. There are a number of options available for future financial planning.  Consult with a financial professional, then get one and save.

5. Get Life Insurance:  

Sidechicks aren’t the only people partaking in risky behavior.  These days it’s important to protect your children and your family with a Term Life policy.  Make sure the payout will cover any tax obligations, pending debts, college tuition, and maintain their current quality of living.

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While I will NEVER condone taking a page from the “Sidechick Playbook” … SMH (Shaking My Hair), it’s not a bad idea to take a closer look at this financial plan and see what you can implement.  Tell me how it turns out for you.

Meanwhile, I’m still BUILDING Wealth in My Stilettos
Tretta

Tretta Bush is an entrepreneur, managerial accountant, speaker and personal finance trainer. Her mission is to gracefully usher her clients into financial freedom through commitment and education, one day, one decision, and one dollar at a time.  If you are ready for financial freedom connect with Tretta on Facebook.com  or Twitter.com.

 

 

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  • http://www.thatmakessense.net/ Pam

    And there it is! I’m loving this blog post. I am not a Scandal watcher (nor a side chick), but this post speaks volumes and one can learn a lot.