Archive for the ‘Finances’ Category

People Find ‘Balancing Motherhood’ Using the Strangest Search Words

November 9, 2007

In WordPress (the software I use to write this blog) there is a great feature that tells you all the search keywords people use to find your blog. Most of mine are pretty normal: they are about kids and being a mom, but some of the keywords are strange. Here’s a sampling:

  • magnets to go to sleep
    I did write about how my son wanted to go to bed with magnets, but I find it odd that someone would search for magnets to go to sleep.
  • moms need money
    Amen, Hallelujah sista’-friend. Yes we do need money! We can have more money if we manage our finances properly. Read my financial posts here.
  • sad about motherhood
    This one really struck me. I just hope that what I write here helped this person. It’s a tough job and can be sad at times, but overall it’s the greatest job on earth.
  • what women carry in their purses
    Yes, this one is very popular. I’m not sure if it’s women trying to find one of the articles that was written in “O Magazine” or in “Real Simple” magazine, but I get this one a lot. Read my post about what’s in women’s purses and get a link to view photos of strangers’ purses.
  • goodie reverse trick or treating
    OK, I thought I coined the phrase “reverse trick-o-treating” in my Halloween post, but I guess some other brilliant person thought of it too.

10 Reasons Why Suze Orman Rocks!

November 6, 2007
  1. She’s THE symbol for women and finances
  2. She empowers women
  3. She says it like it is
  4. She wrote the book on Women & Finances
  5. She got herself out of $250,000 in credit card debt
  6. She says the best financial planner you’ll ever meet is the one you see in the mirror
  7. She’s out there championing women to learn more about finances and take control of their money and their futures
  8. She wants women to take care of themselves, first
  9. She says, read financial magazines, listen to financial radio shows, and watch financial TV shows. I.E. educate yourself
  10. Trust no one, she says, no one except YOU!

Related links:

Financial Education for Women and Girls

October 25, 2007

I’ve been writing about women and finances for a few months now, posting topics as I find them. Increasingly, it is easier and easier to find information –it’s everywhere, screaming at women to do something about our finances. Even while on vacation, I still couldn’t get away from the topic of financial education for women. While reading the “Asheville Citizen-Times,” I found an article by Marle Bartlett about a free seminar about the top 10 financial mistakes women make.

The article starts:

“A 52-year-old woman is $10,000 in debt because she ‘helped out’ her family — including a son who earns twice her income. A 78-year-old widow, married to a banker for more than 50 years, never learned to write a check because her husband took care of all their finances. A woman in her 20s wants to get married but is afraid to tell her partner that she is a compulsive shopper, and thus always broke.”

Powerful statements. Sad statements. Reality for some. For many.

Linda Saylor, a certified financial planner, says that women are uneducated about finances. The deadliest combination, she adds, is when women have a lack of financial education and “help” their grown children.

Saylor, from A. G. Edwards, offered a free seminar called, “Avoiding the Top Ten Mistakes Women Make with Their Money.” I wish more companies would offer sessions like these across the country.

Early last year, Rice University was commissioned by The Women’s Resource of Greater Houston to conduct a pilot study to determine the effectiveness of TWR’s free financial literacy seminars. The facts, according to the Rice Web site:

“In 2005, 1 million women declared bankruptcy—150,000 more than the number of men in the same year. Women work an average of 12 fewer years than men, get less in Social Security and retirement and live longer. Roughly 90 percent of women will be solely responsible for managing their finances at some point in their lives.”

The University concluded:

“The results of the Rice study showed that TWR’s seminars are having a measurable impact on the participants. On average, grades increased from less than 50 percent correct on the preseminar test to more than 70 percent on the postseminar test.”

Women need to get ahold of our finances and become educated about them too. We also need to make sure that financial planning classes can be taken in high school. Melody Hobson, from “Good Morning America,” whom I wrote about yesterday, has said that she is frustrated that young people can take home economics and wood shop, but can’t take financial planning classes. I have to agree. If we want women to know more about finances, we need to start with girls. Now.

Keep your eye open for financial seminars in your area. Google it. It’s how I got started. If you can’t get to a class, buy a book, go to the library. Just start today.

What Stay-at-Home Moms Need to Know About Money

October 5, 2007

Parents” magazine has a good article for every stay-at-home mom (and working moms too) about what we must know about our money. The article is a quick read, but has several key points:

  • Know your worth
  • Stay in the loop
  • Have a spending plan
  • Make sure you’re insured
  • Keep money in your name
  • Stay marketable

But, the most important piece of advice is a quote they hightlight in the second page of the article:

“If you’re a stay-at-home mom, you shouldn’t hesitate to insist on having an equal say in financial matters. Taking care of yourkids and the household is just as important to your family’s economic health as your husband’s job is.”

This is true of working moms too — we must be an active participant in our family’s financial plans. Women need to become knowledgeable about our finances so we can participate and know where our money is going and how we are going to save for retirement. I’m going to keep preaching this until the cows come home. Until I see the cow, I’ll keep sending the message to women about becoming knowledgeable about money. Hurray to those of you who are there already — you are the model for the rest of us to follow.

It’s Not Too Late — Or Too Early To Plan For Retirement

October 2, 2007

In a few of the women’s magazines that I read recently, I found financial-based ads targeted at women. Even a pamphlet of sorts has been inserted in more than one of the titles I read.

I tore out one from Wachovia because it has a lot of valuable information in it. The ad says:

“91% of women say their most important financial goal is not outliving their savings.

So there’s a problem when only 12% of them are confident they’ll be able to do it. “

This is key — I believe women are interested in their financial future, but let their spouse take most of the control. That, or they are just overwhelmed with the task, afraid they will never be able to afford to save enough. They shut down and don’t do anything — or don’t do enough.

The Wachovia brochure that accompanies the ad, titled “A Woman’s Guide to Her Financial Future” acts as a personal questionnaire, asking women to “sum up how you feel about retirement,” and “picture yourself 10 years from now. What are you doing?” There’s also a checklist of what you’re currently doing financially toward your future. It’s broken down by age: “in your 20s and 30s, in your 40s and 50s and in your 60s and 70s,” and gives great reminders of what you should do at each stage in life.

Of course Wachovia is doing this to get your business, but I’m glad that someone is doing this for women. While we flip through photos of the latest fall fashions we can be reminded that we are in control of our financial future and need to move on it now.

If you are interested in more about the brochure of Wachovia you can contact them at: wachovia.com/women or 866-244-8698.

  • Read my past posts about women and finances.

    Editors note: I was not paid to write about Wachovia. I only write about topics I feel are relevant; if they include a product or company it’s solely because I feel it’s warranted in the post.