> CREDIT CARDS
> Finances for Women
Personal finances for women takes the worry out of financial goals
Finances for Women: Most of our mothers probably relied on our fathers to handle personal finances, but as the workplace has changed, so have our families. Today, women earn almost as much as men and are sometimes the sole breadwinner in their household. That means it is just as important for modern women to know how to manage their money as it is for them to know how to set a table.
Contrary to popular belief, managing your personal finances is completely possible, if you remember several key tips. These tips are a basis for goals you may set with your family or partner to secure your financial
What does it take to manage money effectively? Self-esteem, self-confidence, and determination - qualities that every woman can develop. Ignore the myth that money is too complicated for you to understand or that becoming more knowledgeable about personal finance is boring and tedious. You are the best person to manage your money because it is only you that can assess the relative values of your needs, dreams, goals and shortcomings in the financial
Use these tips to prioritize personal finance for women
Tip number one: It is never too early to plan for retirement. No matter how certain you are that your husband (or future husband) will provide for you, you never know what misfortunes could befall your family. Saving as an individual will protect you and your family in the future. Also, with all the baby boomers who will be collecting Canadian pensions soon, there is no guarantee anymore that the federal government will take care of us in the future, and with all the downsizing going on in companies every year, you may end up with very little savings from an employers 401K plan. Look around. Consider investing. It is never too early to plan ahead, but it will be too late before you know it.
Tip Number Two: Know the basics of credit card
management. Keep your balance low when compared to your total
amount of credit. The average American has eight to ten credit cards, but only use three or four. Three is usually a good number, keeping two accounts active and one available for emergencies. And when you do get rid of inactive cards, remember, it is not enough to cut up your cards, you must cancel them as
Tip Number Three: Bite the bullet and come up with a budget. Most people think budgeting involves depriving ourselves of lifes pleasures, but what it really does is help you fit as many luxuries into your life as you can...and not regret it later. According to Tracy Longo, author of "The 10 Minute Guide to Household Budgeting" (Macmillan Spectrum, 1997), budgeting is not just paying bills. "It's about viewing financial actions in a realistic light, and considering the short- and long-term costs and benefits of decisions," and in the end it is really just a matter of simple math, based on keeping the amount you spend lower than the amount you earn. There will always be the surprises that life throws at us, but with enough planning, the steepest mountains will look more like bumps in the road. Create a wish list. Prioritize your wishes against your needs. And then stick with your goals. It gets easier as time goes by.
Of course, budgeting and reducing credit card balances are harder if you are already in a sticky situation with your finances. But thats why CanadianCreditCenter exists. The excellent companies listed here can help you work with creditors, plan for your future and develop the self-reliance and tenacity you will need to get your financial situation on the right track.
Need Canadian Credit Help Now? Visit our Product
Page for Canadian Credit Services and Suppliers.