MoneyWiseWomen

Is it ever TOO early to talk about money?

By Dr. Bonnie Eaker Weil

My immediate, short answer to this question is “no.” But of course it's more complicated than that!

I'm not suggesting you ask for a breakdown of the other person's assets or that you inquire as to how much they make. And I'm not setting forth the idea that you lead your first date with questions about finances, bills, debt, etc.

Finances and budgets can be touchy subjects, so it may seem completely counter-intuitive to discuss money-related issues early on in a relationship, but this is exactly when it needs to happen. You need somewhat of a foundation to a relationship before you start discussing some of these tougher subjects.

Inflated Economy

It's no secret that recreational spending is down across the board but it has also forced people to put a halt on some big ticket items – things they may actually need – until things pick back up. And – as I mentioned last week – these necessary “pent up purchases” are are starting to be acted upon and may provide the necessary fuel to bring the economy out of the doldrums.

USA Today reports that post-recession, the industries that “fell hardest may see a big rebound.” As with many things recession-related, there exists some severe disagreement among economists as to how much pent-up purchasing power exists and when it will be unleashed on the much-needed economy.

The Million Dollar Question

Did you hear about the rancher who won $232.1 million in the lottery?

23-year-old Neal Wanless bought his winning ticket on May 27^th in the town of…no joke…Winner, South Dakota. It’s one of the largest single winner jackpots in history. After taxes, Mr. Wanless will take home a lump sum of $88.5 million.

When stories like this come out, it gets people thinking. They can’t help but wonder what they’d do with all those millions. But, here’s the real million dollar question:

How would you be if you won the lottery?

To get my drift, go back to something you’d do with the money. One common response is “pay off debt.” That’s an action, a task, so what will that bring to your life? How will you be when you no longer have debt? The feelings you’ll have and the ways you’d live your life are what I call “essences.” Try making a list of what you’d do if you won the lottery and then next to each action or task, write the corresponding essence describing how you’ll feel and how you’ll live.

Learning About Credit Reports & Scores from Gerri Detweiler

Last night I interviewed Gerri Detweiler, President of Ultimate Credit for the monthly Money Wi$e Women Get Smart Teleseminar. WOW! Gerri is a wealth of knowledge about everything relating to credit reports and scores. The one-hour interview went by way too quickly! I learned several things from Gerri that I want to share with you.

Watch out for Pent up Purchases!

By Dr. Bonnie Eaker Weil

We're all a little pent up. Even if the recession hasn't affected us financially (although, odds are it has, in some way!), it's likely all we're hearing about, even as some commentators suggest we're finally seeing the light at the end of the tunnel. So it's no wonder we'd want to do something to make ourselves feel a little bit better about this predicament that just seems to be wearing on and on. It's justifiable, right?

Well, yes and no! When the answer to the “how do I make myself feel better” question is “go shopping,” we've likely got a problem.

What You Wear Affects People’s Perception of You at Work

Over the past five years I’ve seen every type of clothing attire at work, from business suits to low cut tops and jeans to gym clothes.  Through it all I’ve had a lot of women ask me about the connection of clothing and career success.  Based on two surveys, it appears that “casually dressed workers may be risking career success for the privilege of being comfortable” according to Marcia Heroux Pounds.