MoneyWiseWomen

A Financial Minute with Jenifer: Have Faith! (An excerpt from the book "A Financial Minute")

Just because you’ve made a commitment to change your financial habits and have started to create new belief systems, that doesn’t mean your financial fears have vanished. You might still feel some doubts about how to put money to work for you and whether you’re up to the challenge.

So why does faith matter when it comes to our money?

Holiday - and Post-Holiday - Finances

By Dr. Bonnie Eaker-Weil

The holidays will likely be a little different for many families this year. With less money to go around, more anxiety and a number of other contributing factors, the season is primed for let-downs, both financial and otherwise.  Fortunately, with careful communication and self-investigation you can be prepared – and prepare your family – for what's to come this season and beyond.

The Gift of Time

I live in the Puget Sound area in Washington State and we've been getting blasted with snow for the past week. Because we live up a hill it's almost impossible to drive up and down our driveway. My busy life pretty much came to a STOP on Friday, December 19. And, it's been a good thing. Instead of feeling overwhelmed and busy, busy, busy I'm enjoying quite time with my husband and pets (Mynx, Missy and Scruffy). I've had lots of time to take a DEEP BREATH. It's a rare gift -- the gift of time. No need to make an excuse for staying home, rubber stamping, reading a book, playing cards and playing in the snow. 

I'm grateful for the most amazing Christmas gift I've received in many years -- the gift of time. I wish each of you the same gift and a wonderful holiday season!

Warmly,
Marcia

A Financial Minute with Jenifer: Chuck, Merrill or Raymond?

When it’s time to invest, to whom will you go? To a friend, or a friend of a friend? Broker or CFP? Paid hourly or on commission? The uncertainty of how to answer these questions is often what keeps people from doing anything at all.

Woman's Story Shows Financial Abuse is a Threat

An English woman's story sheds light on a different kind of abuse emerging: financial abuse. The woman, Seon, tells a UK paper that she endured violence and jealousy, as well as emotional and psychological abuse. An example she gives has her husband forcing her – when she became pregnant - to tell the state the baby was a product of a one night stand so she could claim support from the state and he wouldn't have to contribute financially. When she wanted to leave him, he would then threaten to expose her for fraud.

That was only one of the ways he proceeded to control Seon financially. He would also force her to put all the credit cards and bills in her name, since she had better credit. By the time she had another kid, she was scared to leave for fear of not being able to care for her children. She had no confidence or self-esteem and felt worthless. In 2005, she built up the courage to finally leave him.

Abusers often use monetary means as another way to control their victim, and it can be very effective. This is why I encourage women – no matter what kind of relationship they're in – to be involved and conscientious of the financial decisions going on. It can be as simple as engaging your partner in a conversation concerning the household (or your individual) budget(s) or it can be as in-depth as having your own, guilt-free bank account.

I encourage committed couples to do just that – to each have a separate bank account from which discretionary purchases can be made. Not only does this remove the guilt that sometimes comes when purchasing something for yourself, it better equips each person to be financially responsible and to stand on their own two feet.

Dr. Bonnie Eaker Weil has been an internationally acclaimed relationship therapist for thirty years. New York magazine named her one of the city’s top therapists and Psychology Today named her one of America’s best therapists. Her most recent book, Financial Infidelity, is available on Amazon.

A Financial Minute with Jenifer: Bull, Bear or Sheep?

You probably thought I was talking about what kind of market we're in, didn't you! Actually, I was referring to our attitudes about the state of the economy.

A Financial Minute with Jenifer: "I Now Pronounce You..."

“Money? My husband handles our financial stuff, I don't mess with it.”
“If my wife didn't take care of our checkbook, I'd be in serious trouble.”
“My partner and I have completely different attitudes about money, so we each do our own thing and hope it all works out.”
“If I could just get my (husband, wife, significant other) to see things my way financially, we'd be ok.”

How To Continuously Improve Yourself

Jim Rohn, an American speaker and author once said, “Never wish life were easier, wish that you were better.”  A successful career woman wakes up in the morning and realizes that every day is a learning opportunity.  And, she thinks up creative and cost effective ways to continuously learn and grow.  How?

First, think of yourself, as a product:  That’s right!  View yourself as a competitive product…a product with features, benefits, assets and liabilities – all waiting to be improved year-on-year, carefully differentiating yourself from others and marketing your assets.  Companies spend time every year listening to their customers’ needs and then they work on upgrading and trying to improve their products so they can sell more in the marketplace.  This is the same process women should follow to improve themselves each year.