Some women handle their money brilliantly all the time- in a perfect world. It is crucial to be connected with your finances. However, most of us are in dark about our finances for reasons like misunderstanding terms or not being involved enough. Luckily, there is always time for you to become engaged. The tips below will help you become involved with your personal finances:
- Do you let your husband or partner manage money without your involvement? Change happens all the time in relationships, don’t start learning about your finances while you are in shock.
- Do not sign your joint income tax return without reading it. Make sure you understand and thoroughly read your income tax return. If you need to, consult a professional; but don’t rush into signing anything.
- Do you use your husband’s financial advisor, even if you don’t really like him, know him, or can’t stand him? At your next meeting with your Advisor, ask yourself how much YOU were engaged in the conversation. If not, consult with your partner and try to find an Advisor both of you can be engaged with.
- Ask for confusing terms to be explained. Don’t let uncertainty and being uncomfortable get in the way of understanding your finances.
- Not taking enough risk. We women tend to be more against taking risks. Women live longer lives; we retire with two-thirds the retirement savings of men. This calls for greater risk taking to earn a higher return. Many women HAVE to push themselves to do this.
- Not seeing your money as a means to express your values. Value is defined as a person’s principles or standards of behavior. Many women express their values through the products they buy, the way they spend their time, and the companies they work for. However, few women view their investments as a tool for expressing value. Today, the new industry can represent a way for women to have their money work at more than just earning a financial return.
It is time for you to become engaged and find success in your finances! Take control now! Did you find this email helpful? I’d love to hear from you, please post feedback to Financially Savvy Women Fanpage.