Lately, I've been reading the book "Money, A Love Story" by Kate Northrup. The author introduced me to an interesting term - prince charming. It doesn't seem to be connected with finances and money at first glance, but let me explain it as we dive into it. A prince charming of your finances is something that you rely on when it comes to your money concerns. It might be a person that provides for you or something that you bank on happening to make you financially secure. The thing is that you can't let it go because you think you won't get by without it. It's your friend but at the same time the enemy that oftentimes holds you back.

Knowing the definition I want to ask a question. Have you ever thought what's your prince charming? Have you ever been trapped by it? I'm quite convinced you have, but little did you know about it. In most cases, you don't think about it until something bad happens and you lose it. Your prince might put you on easy street and make you less worried about the difficulties of life. Who doesn't want to be happy, having another person or thing to take care of you financially? You don't have to answer. This kind of support is more than good, but if you rely on it too much the consequences may be devastating. Putting all your eggs in one basket makes you a gambler. Since nothing lasts forever the chances that the prince won't be there in the future and you will be left completely high and dry are quite big. Let's try to make up some examples, so you can picture it in case the concept still goes over your head. Many women completely devote their lives to their families, neglecting their professional careers and delegating financial matters to their husbands. What might go wrong? Unfortunately, a lot, since the probability of getting divorced or, god forbid, widowhood is high. Being emotionally charged doesn't help at all, so it's better to minimize the problem before it's too late. You don't want to be left alone and responsible for providing for your family having no skills and knowledge to do that, do you? It's no big deal if you did something about it once your husband was around and you got the handle on it, but let's say you didn't and now you need to figure it out being completely down and out. Do you see the problem now? That's just the example, but whoever is your prince charming you don't want to charge him and put the pressure of being the only one to provide for you. You should never rely on others to bail you out. But don't get me wrong. It's great to have supportive family and friends, but never abuse their goodness.

Let's try another example. Given that you have a prestigious position in a company or even your own business that allows you to live the high life. You enjoy the job, but it's something that requires a rare set of skills that aren't really demanded on the market apart from your company. Even though you earn a lot of money now, your business is a trap. Once you lose it you're at the end of the rope. Your business is your prince charming that keeps you in a bubble that you don't need to do anything about your financial security because you do well now.

Hopefully, these examples gave you a clue about what prince charming might be. Now it's up to you to figure out yours. If you don't have one that's great, but keep that in mind so you'll never be trapped by it in the future.