Most women are up against more and different financial challenges than men. On average, they unfortunately still don't earn as much as men do, and chances are that they are more likely to take time off during their careers to raise children. Furthermore, women tend to invest less than men do.
All this results in financial difficulties and hardship for many women later in life.
1. Most married women leave financial matters to their husbands. So, if you are married, don't leave the financial planning to your husband alone. Because marriage should be a 50/50, or win-win situation anyway you must always stay involved as an equal.
As I already mentioned in a previous article that I wrote, never give control over your money to someone else! I can't stress this enough. I've have seen people go down financially before my very eyes because of this fatal mistake. Lucky for one person that she's my own mother! At least me and other family members can support her, because my father doesn't.
She left all the finances in the hands of my father that unfortunately didn't know the very first thing about controlling and handling money. He had absolutely no money management skills whatsoever.
And then they separated after 30 years and the financial downward spiral started.
If you're not involved in your day-to-day family finances, you're putting yourself at risk.
So if you're married and you let your spouse handle all the financial matters, you're at risk if your spouse dies or becomes seriously ill or if you divorce. Know the details of your family's finances, investments, debts, retirement savings, etc. Discuss your savings options with your husband and learn your financial options.
Don't turn your investments and financial affairs over to a broker or financial consultant either without keeping track of what is being done with your money and being involved in investment decisions. Never give control of your money to anyone else. NEVER!!!
By the rule of thumb men should save 10% of your gross income each year. Women however, should save at least 15%. This is to account for their longer life expectancy and the loss of salaries many women face when they raise their children.
Now I know that for many women 15% is a lot of money. It all boils down to money management again. To gain wealth and financial freedom, you should always ?pay yourself first? and then live on what's left and not spend first and save what's left at the end of the month.
The The great Henry Ford once said:
?You don't get rich by that what you earn. You get rich by what you don't spend.?
If you're a home-mom with only your husband working, you can open up a spousal IRA in your name. Your husband can contribute to it and you'll both have more money during retirement.
2. Make sure that you have enough investments. Now I don't necessarily mean stocks, options, futures or commodities. Depending on your knowledge about the stock market, these may not be suitable for you ?cos they do bear certain risks. What I mean is having policies like mutual funds or life insurance to cover at least five years of income. 80 ? 90% of all investments should be invested in secure and long-term policies!
Half of all marriages end in divorce, and three quarters of all women are eventually widowed. Good investment policies can also account for an unexpected illness or accident that can impair your finances. If your employer doesn't offer it, obtain individual coverage youself. What is also a good idea is to have up to 3 monthly salaries stashed in your bank account that you can get hold of quickly?just in case!
3. Never cash in on retirement funds! To many people end up cashing in their retirement fund balances (whether it's a 401 (k) or any other retirement plan) when they change jobs.
Still others take out loans against their balances, permanently reducing the amount of earnings they would have accumulated.
If you want to accumulate wealth, tax-deferred retirement plans like 401(k) plans are a great way to do it, but resist the urge to tap those funds before retirement ?cos that's not the idea of a retirement plan!
Also people that emigrate into another country cash in their retirement balance and wast it for things like the move, the flight into the new country, new furniture or a new car ?cos the old one wasn't worth taking along anymore, etc.
That's not the idea of a retirement plan either! If you change countries you should know 2 things:
- Is it temporary? - or it it permanently?
If it's temporary, then leave your money where it is and let it grow earning interest.
If it's permanently, then you can cash in whatever you've accumulated so far and reinvest it in another retirement plan in the country you're now living in.
And if you have an even better idea?great! Well done! As long as you don't squander you retirement plan flushing it down the drain!
All the best!
Ricky Schmidt
1.Mulching protects your garden topsoil from being blown away. It also provides nutrients as it decomposes and improves the appearance of your gardens. Mulching has other benefits and is one of the most recommended gardening tips by gardeners and farmers alike.
2.Healthy plants are more disease resistant. Plants are like people, a person with a strong immune system can combat diseases. A healthy plant does the same.
3. Pests can be eradicated by cleaning the plant with a watery solution of soap. Just make sure to rinse after. This gardening tip is best heeded for fruit bearing trees or edible plants.
4. Using compost fertilizers are a great way to have healthy plants. It is also a great way to save money on expensive fertilizers. Non -organic fertilizers also tend to leave chemical residues that can accumulate in garden soils and harm not only the plants but the gardeners as well. They cause toxins to go to the water supplies. Another gardening tip recommended not just by farmers and gardeners but also by environmentalists.
5. There are several plants that are only suitable for a specified climate, a certain kind of soil or can only grow with certain plants. You have to know what plant grow in the conditions you have in your area this is for you to avoid unnecessary purchases. This is a money saving gardening tip.
6.Landscaping is a good investment which can double the value of your home. This is one gardening tip that can earn you money.
7. Growing grass on bare ground is an easy way to make your home look better and appreciate in value. This is one gardening tip that promotes earning money while growing grass legally.
8. Aside from looking great in your home, trees also provide some sort of protection from direct sunlight exposure and strong winds.
9. Vines on the walls, fences and overhead structures also would offer some protection and would also look great.
10.Flowers are beautiful, but they are also expensive. Get one that is resistant to many elements. Flowers from your local community already have developed resistance to conditions present in your area.
11.For most gardens plants, their roots go only as deep as 6 inches. Putting fertilizer deeper than that would be a waste of money. Put them shallower as they seep down when the plants are being watered.
12.Earthworms are important to plants. They till and aerate the soil for the roots to breathe. Non-organic fertilizers can kill them. This gardening tip dates back to the old days of gardening.
13. Having several kinds of insects that are beneficial to your garden would be good. These insects can be encouraged to stay by having diverse plants in your garden.
14. Spot spraying weeds with household vinegar, instead of using commercial weed-killers, can eradicate them. This is another environment friendly gardening tip.
15. Avoid putting too much mulch on tree trunks; this would encourage unwanted pests to reside on them.
16. Use plant varieties that are common to your area or have been taken from an area with similar conditions.
17. Be sure to know the plants that are poisonous. If you are intent on growing them, make sure to have the necessary cure available in your household. Take note of this gardening tip, it can save your life.
18. The best time to water plants is during mornings.
19. Before planting a new plant in your garden, you must consider its height and size when it matures. This garden tip can help you save money in the future.
20. Newly transplanted plants may require special attention during its first week. This is to reduce the stress and shock it got during transplantation.
And last but not the least of the gardening tips...
21.Plants are living entities. If you want them to grow in your garden you have to treat them as such. They need to be taken care of. They are like your pets, you look out for them. In return you get that feeling of contentment watching them thrive.
A good way to take care of them is to consider that plants might have some feelings too.
Both Ricky Schmidt & Jeffrey Seymour are contributors for EditorialToday. The above articles have been edited for relevancy and timeliness. All write-ups, reviews, tips and guides published by EditorialToday.com and its partners or affiliates are for informational purposes only. They should not be used for any legal or any other type of advice. We do not endorse any author, contributor, writer or article posted by our team.
Ricky Schmidt has sinced written about articles on various topics from Finances, Investing and Trading and Finances. Ricky Schmidt's website http://www.stockbreakthroughs.com was created out of frustration in trying to decode books, magazines and newsletters on the subject, which are supposed to be for beginners but are not because they're too difficult to understand. T. Ricky Schmidt's top article generates over 33100 views. to your Favourites.