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Re: Women and Financial Wellness

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Message 11 of 21
I've been married several times and also single with kids. I was always better off when I was not married even though my single income was less than our combined income. Men are expensive! Without a man, I paid off my home and invested. I will never marry again.
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Re: Women and Financial Wellness

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Message 12 of 21

I am 91 years old and have lived my entire life debt free (except for cars). If I couldn't pay for it now I didn't buy it now -- I waited until I could pay for it. I guess socially I am a misfit because I never dressed in the latest styles nor lived in a nicely decorated home. Although often the pickin's were quite slim, I had peace in trusting God for my daily bread. Living within my means afforded me a clear and happy mind, less day-to-day tension, and freedom to enjoy my environment. 

Wilma Jane Baskins-Chacón

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Re: Women and Financial Wellness

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Message 13 of 21

Know where your money is going when you spend it.  Try not to overspend, make sure all your bills are paid before you spend your money on extras.  Do your best and trust in God.

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Re: Women and Financial Wellness

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Message 14 of 21

My best advice to young women today is don't get married right away!  IF you are going on to College find a career; do somthing that you have a passion for, that may be something you want to do the rest of your life even if you do marry.  Learn more about yourself.  Earn a living and save money, maybe for a trip of a lifetime or whatever else you may want.  There is so much in life to enjoy before you settle down.  You will appreciate having a family later.

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Re: Women and Financial Wellness

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Message 15 of 21

Both my great-grandmothers, grandmothers & mom worked outside the home & they always said a woman should be able to take care of herself & not be dependent financially on anyone.   When I got my first real job in my early 20's, my Grammie encouraged me to start saving then & there for my financial future.  I took her advice.   I am grateful I did.    

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Re: Women and Financial Wellness

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Message 16 of 21

I am also in your position. Had irresponsible parents. Learned from them what not to do. My best friend had parents who counted every penny. Thou they made same amount of $, the difference in their lifestyles was stunning. Never forgot. 

    From the ppl I know, it is the husbands who like to spend. 

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Re: Women and Financial Wellness

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Message 17 of 21

I am widowed, 67, and still working.  I thought when my husband died, I was up to taking over everything.  I found there was a lot I didn't know.  Not on purpose, mind you.  He and I shared both dues, but like all people there were some things we liked do more than others.  I did the financial stuff so when he died I was prepared.  But I wasn't prepared for the change of attitude towards me that came after his death.  It was like a flood gate of financial people were prepared to "relive me" of my financial burden.  Lots and lots of good deals came my way!  Many women do not want to take care of their own finances.  I know many.  And there are men too, who have told me they don't like to do the work.  It is surprising to me, but then again I have learned much by hard knocks as probably many of you have.  I have found there is no like or dislike involved, or shouldn't be, it's about your future and how important you are to yourself. One of the biggest eye openers I received was from a person who was sent to look at my finanaces after my husband's death.  He said he was not use to not selling the house, the cars, finding the spouse a job that had never worked before, and tell them there was no life insurance, while still trying to get the kids through school. Shocking revelation to me because I thought everyone worked the way my husband and I did.  When I counsel both young women and men now, I tell this story and tell them this things:  Save something, live frugually, when you want something wait a few weeks and see if you still want that toy, if you still want it, then look at the one you want and take a step down, big is not always best, hoarding is not healthy, tomorrow comes sooner than you think, think about it now, stop being Scarlet O'Hara, don't think about it tomorrow do it today, death is the great equalizer, stop coveting-that person may NOT be as well off as you, stay out of debt, if disaster hits you'll be ok, learn to walk away, pay attention to the red flags in you head. Make sure you have back up gumption, girls, to pull it off.  If you have to learn it, then learn it. No one escapes these realities.

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Re: Women and Financial Wellness

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Message 18 of 21

Save your money.   You do NOT need that piece of clothing you already have 10 of, that new phone. What you do need is the money these items represent.   And believe me, there will come a time when you look at all this stuff and wonder 'how do I get rid of it.  What in the world was I thinking.'   You need the money in savings, 401K, more than you need that additional piece of junk.  Money in the bank is freedom, much more so than a dress on a hanger.

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Re: Women and Financial Wellness

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Message 19 of 21

Yes, as Scarlett says, "tomorrow is another day, " and if you save and invest your money now, you will have it to spend then.  My husband and I have both retired on state pensions (for which we paid out of our paychecks each payday for 25+ years).  We also started Roth IRA's and he is putting all of his earnings from a part-time job working in radiio (a lifelong dream) into both his and mine (sometimes there are tax code advantages to being married).  Once our state offered a deferred compensation option (no match), we followed the advice of an older friend who told us to dive in, not tiptoe.  So, we started with as much money as we felt we could sqeeze out of our daily expenses.  We then added every raise we got until we had 3 children in daycare and ran out of room to stretch.  When we retired, we rolled these over into self-directed IRA's, and I now have over $200,000 in mine.  When we turn 70, we plan to also file for Social Security.  My watchwords back when I was a working woman were that "I hope to grow old and die." and planning way ahead on money has made the "growing old" part of that financially secure.

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Re: Women and Financial Wellness

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Message 20 of 21

@trouble0902 wrote:

Save your money.   You do NOT need that piece of clothing you already have 10 of, that new phone. What you do need is the money these items represent.   And believe me, there will come a time when you look at all this stuff and wonder 'how do I get rid of it.  What in the world was I thinking.'   You need the money in savings, 401K, more than you need that additional piece of junk.  Money in the bank is freedom, much more so than a dress on a hanger.


@trouble0902 I admire your diligence but I have one point to make.  You are alive right now.  I make it a point to do half and half spending and saving. If I want to take a trip or buy a gift or a special item I do it.  I could have saved a lot of money on all of the trips that I took my parents on but they are both gone now and I can never get those days back and those memories are worth more to me than anything I own.  So save for tomorrow but live today!

Life's a Journey, not a Destination" Aerosmith
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