This weekend I spent a good eight hours at the Apple store with a severely damaged disk drive… so one bit of advice today is… always back-up your computer! Maybe I’m the only one who doesn’t (or at least not more than once a month). But as I saw people come and go as I sat there waiting to see if my “corrupted files” could be saved, more than half of them were having the same problem. It got me thinking about what else I needed to back up? The most common answer I get from 40-something women is …your finances.
I thought this woman had a great perspective on having a back-up plan. It may go without saying for today’s 20-somethings, but financial independence is still the best independence and the best place to start “backing up”.
On maintaining your own finances…to maintain you!
“I’m a big believer in backup plans. You have to take care of yourself. You got to know where you stand. You need to have your finances in order if you want to have your life in order. Otherwise, you could be left in a situation that you’re not prepared for.
People need to start financial planning in their twenties. You need that whether you’re married or single or whatever. It makes you a stronger woman and a stronger couple.
When you get married you have maintain your own life and start a new life with your spouse. Financially, you need to have your own account but have a joint account as well that you can sit down and discuss your financial goals and your life. It will give you a sense of independence. I think that my independence helps keep us together. People have to realize that. It’s exciting.” – 40-something, married, 2 kids, former beauty industry marketer, now owns her own business
I think it’s important insight that financial stability can be a conduit to a better you and thus better relationships. We know it but always a good reminder. Some 90% of women will have to support themselves as women live longer than men and the high divorce rate.
While many women still say that money did not make them happier, the reverse is often not true. The stress and worry of not having enough money, having debt hanging over your head and not knowing the state of your finances definitely contributes to not being happy.
Just being organized about your finances can have a beneficial effect. Awoman I interviewed last week believes that your wallet can be a tool for distressing your life. Sort of “a happy wallet = a happy you.”
Since she started organizing her wallet she has had a weight lifted off her and feels more in control of here life. She swears by it and has recommended it to a few friends who found the same effect. So start planning the big picture…but one small step you can take to feel a little in control …clean up your wallet!