MoneyWiseWomen

Buying a Car Painlessly

Buying a new car can be painless if you do your homework. The last two cars we’ve bought have been kind of a spur of moment decision. Actually, my husband, Steve and I have talked about the make and model of car we wanted but that’s about it. A couple of weeks ago I came home from running errands and announced to my husband I wanted to buy a new car. Our 1999 Jeep Grand Cherokee had 143,000 miles on it and had done a great job for 12 years but I was ready for a new Jeep. That’s all it took to get Steve on the hunt for a Jeep Grand Cherokee. And today you can do your home and shopping in the comfort of your own home on the Internet. Steve began by visiting www.truecar.com , a website that helps consumers determine the true price of a car. You simply enter the year, make and model of the car you’re looking for and you’ll get the sticker price listed at local dealerships. You’ll also get a graph with the best local price along with great, good and market prices.

A Letter to Santa

Do you remember when you believed in Santa Claus? You would write a letter to Santa asking him to bring your favorite things on Christmas Eve. Let’s roll back the years, sit down with a cup of tea, put on some Christmas music and write a letter to Santa. Let you imagination go wild and spend some time daydreaming. What lights your fire? What are your dreams and goals? Do you have a bucket list? If so, imagine yourself doing some of the things on your bucket list. Think of this as a type of dream board.

Weathering a Financial Storm

The stock market is bouncing up and down like a beach ball; people continue to lose their jobs and their homes; bankruptcy is on the rise and people are accumulating more debt. According to a recent study, people who are happy and content live longer. Let’s look at a few steps you can take to weather the financial storm pounding the country – and ensure you’re living a happy life. 

Are You Prepared for a Disaster?

A few weeks ago the stock market went haywire as people reacted to our nation’s financial mess. Last
week the Eastern United States suffered through Hurricane Irene’s wind and torrential rain. Both events are a reminder to be prepared for disasters – both natural and financial. Unfortunately many people don’t take time to prepare instead they react. In this month’s newsletter I’m sharing some steps you can take to be prepared for natural disasters:

• Get an evacuation box, which should be fireproof, lockable & light enough to carry. Prepare a written inventory of your assets and liabilities, including account numbers, locations, contact information, etc. In addition, you should make a photocopy of your driver’s license, Social Security card, birth certificate, marriage certificate, passport, will, insurance policies, home and automobile titles. Don’t forget to make copies of this information for everyone in your family. In addition, keep some cash or traveler checks and extra checks. Another idea is to scan this information onto a disc. Keep a copy of the disc in your evacuation box and another copy in your safe deposit box. There are also lots of companies that provide online records storage. 
  

Learning from the Experts

 
Nine years ago – on August 2, 2002 I stepped outside my comfort zone and took early retirement from my Public Relations job with the Social Security Administration after reading the quote “Our purpose is life is find our gift, perfect it and give it back to others”. My gift was founding Money Wise Women to educate and empower women to live financially healthy. In the past nine years I’ve hosted 66 Money Wise Women conferences, wrote and published The Money Therapist: A Woman’s Guide to Creating a Healthy Financial Life, created the Money Wise Women blog, and began hosting Money Wise Women Get Smart Teleseminars. Since I worked for the Federal government for 26 years starting my own business and a non-profit organization was definitely a stretch outside my comfort zone. I learned how to build a successful business from professional experts. Today many of these women are my mentors, colleagues and friends.

Women often think they have to do it alone (whatever IT is), but it’s a myth. There are a ton of resources available on every topic under the sun. Money Wise Women Get Smart Teleseminars are a free resource sponsored by the Direct Selling Education Foundation. In the past several months I’ve interviewed extraordinary professional experts. These amazing and talented women freely shared their wisdom and expertise. I know everyone who listened to the interviews benefited from the tips, suggestions, ideas and resources shared. Below are just a few of the tips:

Top 10 Things You Owe Your Family When Shopping for Life Insurance

Whether it’s just you and your spouse or your family consists of a houseful of kids, a top priority for your peace of mind is having the right whole or term life insurance to make sure your loved ones are protected. Because there are so many options available, it’s easy to put off making a decision if you are overwhelmed with your choices or don’t properly understand them. The following 10 suggestions can help you make the right decision for you and your family.

Money Saving Tips for This Summer’s Road Trips

When I was eight years old – long, long ago (in 1963) my family drove across the United States in our Volkswagen van. Back then I had no appreciation for seeing the sights of our amazing country. I’m sure I probably complained that I’d rather be home with my friends than traveling the countryside with my family. Until my father sent me the vacation photos I had only a few memories of that summer.
My husband and I just took a two-week road trip and discovered some beautiful countryside. On the first day of travel through eastern Oregon we saw the sign (and crossed over) for the 45^th parallel. I learned something new – it’s the half-way point between the Equator and North Pole. On our drive from Boise, Idaho to Park City, Utah we saw farmers spraying their crops from planes. I was fascinated because I didn’t think farmers did that anymore. We also saw the Great Salt Lake – it’s huge!! We were introduced to southeast Utah on our drive from Park City to the Grand Canyon. The scenery made me wonder if John Wayne was going to ride up on his horse. I looked for him for several hours, but he didn’t show up. Darn! I learned later that many western movies were filmed in this area.

Graduates -- Learn to Live Financially Healthy

College (and high school) graduations are right around the corner, but perhaps the most important learning of all is still come – learning how to live financially healthy.   
 

1. Give Yourself a Spending Reality Check. Notice there’s no mention of “budget”? Budget reminds me of self-denial and regret, much like the word diet. A spending plan allows you to create your own personalized plan. This is perhaps the most important step for students who have relied on their parents and/or student loans to get them through school. We're a nation of spenders and we spend unconsciously. Begin by tracking your spending. Use a small notebook or blank checkbook register and write down everything you buy with cash, check, ATM card, debit card, and credit card for at least 14 days (30 days is better). Most people discover at least one thing they’re spending more on than they realized. Simply writing it down will likely prompt you to spend 10% - 20% less.
   

Invest in Yourself & Live Financially Independent

 

One of the most important things you can do to create a healthy financial life is invest regularly and automatically. If you’re not already investing, don’t wait another day. Don’t wait because time is not in your favor. Unfortunately women think we have to be perfect and know everything before we start to do anything. Simply investing $50 per month will help you create financial independence.

It’s important to understand the difference between savings and investing. Saving money won’t make you rich, but it will be there when you need it. Savings are when you put your money in checking accounts, savings accounts, certificate of deposits, money market accounts, U.S. Savings Bonds, etc. Investing involves more risk, but if you make good investment decisions, your investments will yield higher returns over time than savings. Investing is when you put your money in stocks, mutual funds, bonds, etc.

Why Women Experience Money Malfunctions

This isn’t the first time I shared this topic, but I think it bears repeating. Why are there so many women who don't have their financial act together? I think there are lots of reasons, but the main reason -- women are nurturers and caregivers. We take care of everyone, but ourselves. We take care of our children, husbands, partners, grandchildren, and parents. Why? Because we've been programmed by our families and society -- to give to others first and wait to see if there's anything left over for us. For years I thought I was selfish if I did something for myself. It took forever to get past that feeling of selfishness. It didn't change until I read this definition: Selfish is when you are not doing something someone else wants you to do.