Kamis, 16 Januari 2014

How to save money

w to save money - Nowadays frugality is one of the tips set of household and personal finances in order to keep the surplus . Price increases in fuel prices , especially these days can be a powerful reason for you to save money , to help your business improve financial conditions .
how to save your money
Wasteful habit itself is a lifestyle that is quite difficult to remove . But if you want to try to have a significant impact on your financial condition . Here are tips and tricks on how to save money and set your budget in order to use more useful .
Tips to save moneyDo not buy goods at new placeMake sure you have a friend or relative where you buy the goods . That way you can get special discounted rates are not obtained by others. That way you will save even more.
Needless to celebrate the birthday of another personSaying birthday at a friend or a girlfriend , just through social networks like Facebook or Twitter . That way , you do not need to shell out a lot of money , and keep the attention of your friends and girlfriend .
Do not let your friends play homeYour residence not a hotel where visitors must pay rent rooms and breakfast . If your friends come from out of town , and intend to live in your home temporarily , immediately offer cheap lodging elsewhere . You also do not need to bother to get up early to prepare breakfast .
Ride free internet accessAt some point, you will need internet access . Do not install your own internet at home . Try to find places that provide free internet access as a restaurant . Sit around and enjoy the free internet access .
In addition , you can also get free internet access from your neighbors who do not lock access wi - fi ` ` his . Relax, this is not stealing . In the 21st century , it is the same as asking for a cup of sugar .
Eating at homeIf you frequently order food over the phone or eating out , stop this practice . Cook at home and you can specify the menu itself . Bonus when you do not eat out, you do not need to give tips to waiters . It is extra money for you .
quit smokingYou can save even more if you stop smoking . Not to mention , the time you normally spend on smoking can be used to make money . If you actually smoke , approach your friends who were smoking , and ask one or two cigarettes from him .
Do not carry too much cashOften the amount of money you bring more than you need to store or wherever . If so , you will find it difficult to refrain when you see another interesting product . Bring enough cash when you are out of the house . Prepare ATM card just in case
Donate your time , not moneyDo not be a philanthropist if you are still having trouble finding the money themselves . Let Bill Gates are doing . Yet you can still donate your time to do useful things for others . Remember , time is money too .
So the homeThe best way to save money is to stay home . You do not need cermas as pictured item you want to buy . A lot of fun things you can do at home such as watching TV and cheap breakfast . In six months , you can save some money .
If you are a man , oftentimes play to your girlfriend's houseDo not let your bag should be drained because the streets with your girlfriend . Imagine how extravagant you are , have to buy a movie ticket and a meal . Play to his home will make you more efficient . In addition , you can also free to eat and drink there

Ways to Manage Finance

Family financial management is not easy , even this is often a source of contention between husband and wife . Understandably , as it is said Karyanto Reza , Assistant Vice President Head of Investment , Bancassurance , and Treasury Products Commonwealth Bank Indonesia , money is something that is sensitive , especially when associated with domestic life .
" The issue of dollars is usually originated from the habit of managing differences continued to feel each other properly and end up fighting , " he said in a release received by Business , Wednesday ( 16/10 ) . So that this does not happen , he discussed one by one the tips to build a foundation HOUSE . Here's the explanation :
R = Account Household Needs
Joint accounts or separate ? It is often discussed new partner , especially if each one had their own income . Whatever the choice , the important thing is the openness and joint planning . It is associated with higher expenditures , such as children to school , and others .
According to the survey , many couples feel combine accounts or joint accounts is an easier solution . If income into one , we will be easier to monitor income and expenditure .
U = Debt
Sources tempest is the next household debt . Each individual would have a different opinion about the amount of debt . It would be nice before marriage discuss these issues beforehand , because the debt we owe the pair will be too later .
Consider the separation of property agreement . Do not think badly of this agreement is useful to protect our assets from debt partner . Precaution is necessary especially if the spouse or we owe to the loan sharks that use violence to collect .
M = Monitor
Running a household is like to regulate companies . We need to monitor , create success and achievement standards in order to avoid suspicion . Let us not accuse couple wasteful because often runs out of money monthly .
Get used to sit together to decide the allocation of money . Prioritizing to prepare primary needs such as rent , mortgage , the cost of food, electricity , telephone , water , health , schools , and transportation . Continue with personal needs , clothing , salon , recreation , tourism , and the purchase of luxury goods . Make a list of his and her then negotiated amount.
A = Budget Emergency Fund
Have an emergency fund of 3-6 months and put a number on deposits or savings that have high liquidity alias can be taken at any time . Do not be taken for personal expenses for this fund who would save us from a variety of disasters such as layoff , illness , or other financial household that does not shake .
H = Must Invest Regularly
If the primary needs are fulfilled , the debt is settled , and emergency funding is met , let's think about investing . Set aside from the initial receiving income and choose the right investment instruments . Mutual funds can be an option because it can be started from the very affordable amount of Rp 100 thousand . Get used to having an investment plan for each financial goals eg retirement , children's education , and so on

Family Financial Planning Tips

How - even income seems less scar continues yes . It looks like you have to start preparing proper financial planning to avoid the financial problems of this kind90201643 Shutterstock Family Financial Planning Tips
Tips on financial planning for a new family
Most new parents experience errors in their family financial planning financial planning so as uncontrollable . After every payday , the money has run out while the moon is still running for a few more weeks ahead . Most families rely on the shoulders of the financial life of the husband , while the wife's job to manage the family planning so that no matter how well the husband's income to provide for the family .
But with household tasks that have been piling up , making the Mother 's do not have time to put it aside just doing financial planning . Here are some tips that we can describe to facilitate family financial planning Mother set easily and precisely .Do not spend money for purposes which are not beneficial
Women synonymous with ' shopping' . If it 's busy shopping womenfolk could forget the time without thinking about how much it costs and money that has been squandered . If you need to shop , as much as possible record purposes you need at home . Let the little ones milk , spices , diapers , laundry soap , toothpaste , and so on . Surely you 're not in need of new clothes , new shoes , or a new perfume , right? Wear the existing first home

Sabtu, 09 November 2013

6 Tricks to Pay for Long Lasting

You've heard the term seven-point salary? However on 7's "coma", Of course, this is not because the salary the person is under the minimum wage, but because of lifestyle than the pole peg. Basis of the coma that you experience are actually the wrong financial management. Robert Pagliarini, MSFS, CFP, author of The Six-Day Financial Makeover and president of Pacifica Wealth Advisors, Inc., Offers a system to control your finances:

1. Create a spending report
The only way to check is to check the finances, where the departure of your money. Write down everything you spend for a week. Most people would not be surprised to see such a large expenditure rent, gasoline or insurance. That people are more shocked when he saw many small expenses such as movies, coffee with my friends or buy DVDs. Once accumulated, the amount so much too!

2. Apply envelope management
Some people go through methods that are often considered ancient. Each week, take some money from an ATM or a bank (according to your budget, or less than that), then for, for as needed. Spend money only from those funds during the week. You would not think how much you can save this way.

3. Defer expenses

There are several types of expenditures that can be postponed temporarily, for example, delaying a vacation or new car trade. By delaying these expenses, you will get extra money for more pressing needs.

4. Cancel
Cancel expenses you do not use. For example, you register a member of the gym, but never use your membership. Anyway, just being realistic, if sport is not a priority you, better use the money for another membership. The same thing can you apply for the extra costs of the additional channel pay TV that you never watch.

5. Reduce
Any expenses that you cancel the extra savings in your wallet, suppose you have a habit of eating with the family on Sunday afternoon, You can reduce this tradition to eat with only two weeks. Another way to eat together every week, but by choosing a restaurant that is not so expensive.

Sabtu, 17 Maret 2012

Financial Management

Financial management entails planning for the future of a person or a business enterprise to ensure a positive cash flow. It includes the administration and maintenance of financial assets. Besides, financial management covers the process of identifying and managing risks.

The primary concern of financial management is the assessment rather than the techniques of financial quantification. A financial manager looks at the available data to judge the performance of enterprises. Managerial finance is an interdisciplinary approach that borrows from both managerial accounting and corporate finance.
Some experts refer to financial management as the science of money management. The primary usage of this term is in the world of financing business activities. However, financial management is important at all levels of human existence because every entity needs to look after its finances.

Financial Management: Levels

Broadly speaking, the process of financial management takes place at two levels. At the individual level, financial management involves tailoring expenses according to the financial resources of an individual. Individuals with surplus cash or access to funding invest their money to make up for the impact of taxation and inflation. Else, they spend it on discretionary items. They need to be able to take the financial decisions that are intended to benefit them in the long run and help them achieve their financial goals.

From an organizational point of view, the process of financial management is associated with financial planning and financial control. Financial planning seeks to quantify various financial resources available and plan the size and timing of expenditures. Financial control refers to monitoring cash flow. Inflow is the amount of money coming into a particular company, while outflow is a record of the expenditure being made by the company. Managing this movement of funds in relation to the budget is essential for a business.
At the corporate level, the main aim of the process of managing finances is to achieve the various goals a company sets at a given point of time. Businesses also seek to generate substantial amounts of profits, following a particular set of financial processes.
Financial managers aim to boost the levels of resources at their disposal. Besides, they control the functioning on money put in by external investors. Providing investors with sufficient amount of returns on their investments is one of the goals that every company tries to achieve. Efficient financial management ensures that this becomes possible.
Strong financial management in the business arena requires managers to be able to:

  • Interpret financial reports including income statements, Profits and Loss or P&L, cash flow statements and balance sheet statements
  • Improve the allocation of working capital within business operations
  • Review and fine tune financial budgeting, and revenue and cost forecasting
  • Look at the funding options for business expansion, including both long and short term financing
  • Review the financial health of the company or business unit using ratio analyses, such as the gearing ratio,profit per employee and weighted cost of capital
  • Understand the various techniques using in project and asset valuations
  • Apply critical financial decision making techniques to assess whether to proceed with an investmtn
  • Understand valuations frameworks for businesses, portfolios and intangible assets

Meaning of Financial Management

Meaning of Financial Management
Financial Management means planning, organizing, directing and controlling the financial activities such as procurement and utilization of funds of the enterprise. It means applying general management principles to financial resources of the enterprise.
  1. Investment decisions includes investment in fixed assets (called as capital budgeting). Investment in current assets are also a part of investment decisions called as working capital decisions.
  2. Financial decisions - They relate to the raising of finance from various resources which will depend upon decision on type of source, period of financing, cost of financing and the returns thereby.
  3. Dividend decision - The finance manager has to take decision with regards to the net profit distribution. Net profits are generally divided into two:
    1. Dividend for shareholders- Dividend and the rate of it has to be decided.
    2. Retained profits- Amount of retained profits has to be finalized which will depend upon expansion and diversification plans of the enterprise.
Objectives of Financial Management
The financial management is generally concerned with procurement, allocation and control of financial resources of a concern. The objectives can be-
  1. To ensure regular and adequate supply of funds to the concern.
  2. To ensure adequate returns to the shareholders which will depend upon the earning capacity, market price of the share, expectations of the shareholders.
  3. To ensure optimum funds utilization. Once the funds are procured, they should be utilized in maximum possible way at least cost.
  4. To ensure safety on investment, i.e, funds should be invested in safe ventures so that adequate rate of return can be achieved.
  5. To plan a sound capital structure-There should be sound and fair composition of capital so that a balance is maintained between debt and equity capital.
Functions of Financial Management
  1. Estimation of capital requirements: A finance manager has to make estimation with regards to capital requirements of the company. This will depend upon expected costs and profits and future programmes and policies of a concern. Estimations have to be made in an adequate manner which increases earning capacity of enterprise.
  2. Determination of capital composition: Once the estimation have been made, the capital structure have to be decided. This involves short- term and long- term debt equity analysis. This will depend upon the proportion of equity capital a company is possessing and additional funds which have to be raised from outside parties.
  3. Choice of sources of funds: For additional funds to be procured, a company has many choices like-
    1. Issue of shares and debentures
    2. Loans to be taken from banks and financial institutions
    3. Public deposits to be drawn like in form of bonds.
    Choice of factor will depend on relative merits and demerits of each source and period of financing.
  4. Investment of funds: The finance manager has to decide to allocate funds into profitable ventures so that there is safety on investment and regular returns is possible.
  5. Disposal of surplus: The net profits decision have to be made by the finance manager. This can be done in two ways:
    1. Dividend declaration - It includes identifying the rate of dividends and other benefits like bonus.
    2. Retained profits - The volume has to be decided which will depend upon expansional, innovational, diversification plans of the company.
  6. Management of cash: Finance manager has to make decisions with regards to cash management. Cash is required for many purposes like payment of wages and salaries, payment of electricity and water bills, payment to creditors, meeting current liabilities, maintainance of enough stock, purchase of raw materials, etc.
  7. Financial controls: The finance manager has not only to plan, procure and utilize the funds but he also has to exercise control over finances. This can be done through many techniques like ratio analysis, financial forecasting, cost and profit control, etc.

Sabtu, 10 Maret 2012

Savvy Stuff : Top 10 Financial Tips

Begin improving your finances right now with our Top 10 Financial Tips.

1. Be realistic.

Time spent developing a budget is time well spent.
A common error people make when they’re planning their household budget is to list unrealistic dollar amounts. If you spend $500 at the grocery store each month, then it isn’t reasonable to list $300 in your budget.
Keep a spending journal for at least two weeks prior to creating a budget for your family and yourself. This will help you establish realistic numbers. A comprehensive budget will not only tell you where the money is going, it can give you a map to tightening expenses. Also, it will allow you to put more money away for your short-term and long-term goals.

2. Know the difference between luxuries and necessities.

Knowing the difference between a “want” and a “need” can help you save money.
Many of the items we spend money on are things we want. If you don’t have to have it in order to survive, then it is a want. If the item doesn’t fit comfortably into your budget, you need to set it aside until your budget is ready to handle the purchase.

3. Don't bet on the next bonus.

Until the money is in your account, don’t spend it. Many moneymaking ventures are not guaranteed, and it’s not wise to gamble with what “may be.”
For instance, stocks may or may not double within a year, so to plan your budget around what might happen or what you hope will happen can leave you in the lurch.
Focusing on your present financial state will help you reach your financial goals in a more realistic fashion.

4. Keep control of your money.

You earned it, so you should know how it is being spent. When you let someone else control your money, you are putting yourself at risk. A divorce, serious illness, or death can place married individuals at risk.
When you know the details of your family's finances, investments, debts, and retirement savings, you are more likely to come out of a negative situation on top. Not knowing can produce a lot of heartache and financial strain that could easily have been avoided.
If you are single, you should know what your broker or financial consultant is doing with your money. Your involvement will help negate any questionable activity that could have a negative impact on your future finances.

5. Think before acting.

Make wise buying decisions. Consumers’ spending decisions are processed “5% by the numbers and 95% by emotions,” according to Connie Kilmark, a financial counselor and consultant in Madison, Wisconsin.
It is critical to make decisions based upon need and not just by what you want. When you sign a loan or lease, you are locked into a payment that may not give you the room needed for financial emergencies like illness, auto repairs, etc.
To avoid over-extending yourself think before you act. Before you sign on the dotted line for a large ticket item, such as a house or a car, you should examine your budget and rent or borrow the item to ensure that your purchase will be a true fit.

6. Use cash instead of credit.

If more than 20% of your monthly net income is going to pay credit cards and other loans, there are signs of financial problems in your future.
When you use a credit card and don’t pay off the balance at the end of each month, you spend more on your purchases. The interest earned on your credit cards will limit the amount you can save over time. Use cash to make your purchases or only buy what you can afford to off when your bill arrives and you can avoid credit card debt that will prevent you from reaching your financial goals.

7. Be credit savvy.

Credit is not evil, but it must be used wisely and judiciously. In order to avoid common pitfalls of debt, consumers need to read the fine print, pay on time, and limit the amount of credit they have. If you miss a payment or get another account, credit card companies can make money.
Even though you have signed up for 0% APR interest, there is no guarantee that the amount will not be revoked. Missing a payment can cause the 0% APR to be revoked, so it is important to be organized and pay your bill on time. Credit card companies can even use late payments with other companies against you, so be on point at all times.
Also, don’t cancel cards once you’ve paid them off. Creditors consider a consumer’s credit history, including the length, when offering interest rates.

8. Don’t ignore retirement.

Saving for retirement at an early age is a win/win situation. You will have to save less if you start early, and your savings will have longer to grow. Start early and save at least 10-to-15% of your income, if you plan on accumulating the wealth you need to live comfortably later.
Work with a financial planner when determining which savings option is best suited for you. Not all savings are guaranteed, such as 401K and stocks, so choose a savings option that is comfortable for you.

9. Examine your options.

When you select a shorter repayment term on a home, you avoid paying two-and-a-half times the value of the item. A 15-year mortgage can help you save money and build wealth. Before you buy, balance what you can afford with the healthiest option available.

10. Roll it over.

If you change employers, you should roll over your 401(k) balance into an Individual Retirement Account (IRA) rather than cash it out. Cashing out incurs penalties, rolling over maintains your wealth building efforts.
Make sure you make a direct rollover from your previous employer to the financial institute where you have opened your IRA, if you want to avoid giving your previous employer 20% for taxes. Many times a past employer will cash you out after a certain period, so act promptly.

Financial Tips and Advice

Money Management Advice

  • Prepare a comprehensive budget taking into account all living costs and repayment amounts you have to make. This is the most important thing to do before you spend any money
  • Plan gift buying ahead of time. You will often find suitable gifts at lower prices at sales and you can avoid the rush before holiday periods, such as Christmas time.
  • Plan buying a house one or two years beforehand. This will enable you to investigate the most suitable sources of finance, and arrange to satisfy requirements such as a history of saving with a particular institution.
  • Be aware of interest free periods on items, check the type of borrowing, is it if you pay it off in the time period no interest, if you do not pay off in time the interest may go back to the start and you will be paying at line of credit charges, it is like a credit card and interest will compound
  • Credit card payments, interest charges, interest compounds, don't rely on minimum payment, if you do use credit you must know by your budget that you can afford to pay it back and not incur interest or too much interest.
  • Before lodging an insurance claim for the cost of repairing damage to your car, check the future loss of no-claim bonus which this might involve. The insurance payout you receive could be more than offset by the loss in your no-claim bonus.
  • You may be able to pay insurance premiums by the month instead of yearly, without incurring a penalty for doing so. It should be easier to pay a small amount each month than a large amount once a year.
  • Organisations such as credit unions sometimes have special group arrangements with insurance companies so members can buy home, contents or life assurance at a discount.
  • Remember if you buy a mobile phone that it may be on a contract — be careful of this and any disconnection fee if the contracted amounts are not paid

Love & Money : 25 Financial Tips for Couples

The way we earn, spend, and save money is a practical expression of our most fundamental beliefs. When our priorities are out of sync, money can become the great divide in an otherwise harmonious relationship. 
By working together toward financial freedom, money can cease being a source of conflict and become a way to express our highest values, while providing comfort and security to those we love most.
Here are ways that you, as a couple, can improve your relationship with money.
While dating
  1. Learn to have fun without a lot of money. A bike ride, walk in the park, home-cooked meal, free concert, or ice cream cone are just a few of the opportunities available to enjoy time with your lover without spending a lot of money.
  2. Pay attention to your partner’s financial habits. Just because your beloved is a lot of fun and a good kisser does not mean that she is fiscally responsible. Before you commit yourself, learn how your partner handles the big issues of real life, including financial matters.
  3. Discuss your dreams and goals with your partner. Almost everything you will do during your lives together will cost money. Make sure your partner’s goals are compatible with yours.
Living Together
  1. Don’t move in by degrees. Some people leave their toothbrush one night, then a few changes of clothes, and before they know it, they’ve moved in. Have a discussion with your partner about leases, household expenses, and other important matters before you make your decision.
  2. Create a written living-together agreement. Clarifying your intentions in writing will help you to avoid misunderstandings and costly disagreements later. In most cases, your agreement will be enforceable in court.
  3. Plan carefully before you borrow with your beloved. Determine in advance who will be responsible for debts incurred during the relationship. In the absence of an agreement, each partner is generally responsible for debts for which she has signed, often without recourse to the other partner for repayment.
For Newlyweds 
  1. Time your marriage to minimize taxes. If both you and your beloved are employed, the "marriage penalty" may force you to pay more taxes as a married couple than you would if you were single, so marry the following January rather than December. However, if one spouse earns most of the money, you’ll enjoy a "marriage bonus," paying less tax as a married couple than you would as two single people, so a December wedding might be wise.
  2. If you are paying for your own wedding, pay cash instead of going into debt. Have the courage to care more for the reality of your joint finances than the symbolic ritual of a lavish party. Consider having a small get-together to memorialize your love, and then throw a larger party when you can afford it.
  3. If you receive monetary gifts on your wedding day, don’t spend them all. Set aside as much as you can to invest for shared dreams, such as a house, business, or children.
  4. Review your investments. Determine if you need to change your investment allocations to meet your joint goals. Your partner’s assets can provide you with some investment flexibility that you could not achieve while single.
Joining Your Financial Lives
  1. Create a workable structure for your financial lives. Who will be responsible for paying bills, filing invoices, balancing the checkbook, and researching large purchases? Establish a division of labor that suits your talents and needs.
  2. Celebrate your differences. If one of you is a saver and the other a spender, create a budget that allows for both. If your partner is a bargain-hunter, put him in charge of the spending part of the budget, while you invest the savings.
  3. Confide in your partner. Keeping financial problems to yourself is destructive to the openness and stability of your relationship. Discuss your worries with your mate and ask her for practical suggestions and support.
  4. Rank your financial priorities. Where your individual goals coincide, make a list of the steps it will take to accomplish those goals. Where they collide, figure out which you can live without and how to combine the rest with your partner’s plans.
Starting a Family
  1. If one partner will stay at home while the other works full-time, discuss the model you will use for your finances. Will you pay the homemaker a salary for her services? Have a spending limit for purchases, like a corporate buyer? Create an arrangement that shows respect for the most important job on Earth: raising a wonderful human being.
  2. If you haven’t already, now is the perfect time to prepare your will. You don’t want guardianship issues to be settled in court if anything happens to you. Ask a friend or relative if he would be willing to be the legal and/or financial guardian for your children after you’re gone. Then, follow through by updating and signing your will.
  3. If you stay home, keep up your career skills. Work part-time to maintain your skills and contacts, or go to school part-time to improve your financial prospects. Maintain your skills so you can ease your transition to the workplace.
  4. Contribute to your child’s Roth IRA. Children, like many other taxpayers, can contribute up to $2,000 of their earnings to an IRA. If your children have part-time jobs, encourage them to save the money in a Roth IRA, perhaps by "matching" the funds they contribute. Roth IRA contributions can be withdrawn tax- and penalty-free and used for college expenses. Earnings can be withdrawn as well after the IRA has been open for five years, but they are subject to tax.
Relationship Skills for Financial Success
  1. Organize regular "money meetings" to discuss your financial situation, dreams, and goals. Use this time to brainstorm creative solutions to problems and generate ideas to improve your future.
  2. Work with your mate’s personality, instead of against it. One of you makes financial decisions instantly, while the other one deliberates for days. One of you hates paperwork, while the other has anxiety if every blank is not filled out completely and perfectly. Focus on a positive outcome, not the method of traveling.
  3. Don’t ignore your partner’s needs. It may not be important to you, but if it’s important to your partner, it’s important to your partnership. Treat your partner as a business associate, not a dumping ground. Hear what your partner is saying, consider it, and respond.
  4. Join an investment club, or form one for your family. Investment clubs are social gatherings where the members can learn about finances together. It’s a great opportunity to share good times and learn how to invest at the same time.
  1. Talk about the money differences you had with your prior spouse. That way, your new mate will learn more about you and will know where you are coming from when differences arise in this relationship.
  2. Be polite to your partner’s ex-spouse. He or she is the lion at the gate guarding your partner’s relationship with his children. Don’t indulge in vengeful or petty actions that may keep you from your larger goal of a happy stepfamily.
  3. Don’t let the children come between you. It takes special vigilance to keep children from prior marriages from fueling disagreements. Discuss in advance how you will share responsibility for children who live with you and how their expenses will be handled.

6 Savvy Financial Tips for Women to Succeed

Women are increasingly becoming involved in family finances, and the decisions that go with them. Women have long been involved in the shopping aspects of family finances, and in frugality. However, with a greater number of women earning money, and more women — including those that stay at home — interested in using money to make money, it seems natural that women would be more interested in participating in major money decisions. However, finances are still seen as traditionally male turf. Here are some financial tips that women (and men!) can use to improve their situations:

1. Don’t Let Someone Else Direct Everything

A stay at home spouse deserves a say in how the money is spent. Someone staying home is sacrificing to provide real value to the family, and, even though our society doesn’t recognize these contributions with a pay check, they are still important for the family’s overall financial well-being. No matter your situation, make it a point to be informed, and be involved in family financial decisions.

2. Get Educated About Money

A recent study pointed out that many women are still uncomfortable with investing. A big part of that is a lack of knowledge about how investing works. Take the time to learn about how money works, and about how different investments work. You can learn in bite sized bits, tackling a concept a day, until you feel comfortable with money, and with making money decisions. You might even decide to take a little more risk with some of your investments.

3. Fund a Retirement Account

Many women rely on their partner’s retirement account for the future. However, it is important that you have a retirement account in your name as well. If you have a job, make sure some of that money goes into a retirement account. If you do not have a job, talk to your partner about a spousal IRA. You can still have a retirement account, even as a stay at home spouse.

4. Consider Your Own Financial Needs

It is common for women, especially mothers, to sacrifice for others. However, you need to make sure that your finances are under control. Before paying for your child’s college, consider whether or not your own retirement is in good shape. You might even want to pay to finish your own degree, so that you are prepared to work if the need arises. You can’t truly help others financially until your own finances are sold.

5. Know Your Worth

Learn more about what your skills and experience are worth in the job market. Know your worth, and learn how to ask for what you’re worth in a professional manner. Many women accept less money than their male counterparts because they are afraid of rocking the boat. (Take realities, such as the recession, into account during a salary negotiation.) Additionally, if you are a stay at home spouse, develop confidence in your worth as a member of the family.

6. Look for Support When Necessary

Don’t be afraid to look for financial support when you need it. This may mean working with a financial planner who can help you create a roadmap to financial freedom. It can also mean joining a legitimate investment club. If you are nervous about financial decisions, look for ways to find help and support, and look for legitimate and helpful sources of information.

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