5 Money Lessons Women Must Learn

5 Money Lessons Women Must Learn


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5 Money Lessons Women Must Learn
By:
02 Dec 2016
Business

1. Money is an emotional topic.

Many people are uncomfortable talking about money—and women are especially prone to think of the subject as taboo. But avoiding the subject means missing opportunities to learn more about it take control of your finances.

Especially with your financial professional, don't be shy. She needs to understand your budget (income, expenses and debt), money-related goals (buying a house, paying off debt) and current investments. Be honest so they can provide an accurate plan.

More importantly, you and your spouse need to communicate about money whether it's the joint checking account, paying off debt, monthly spending or planning for the future. No financial plan is going to work if you're not communicating.
 

2. Reviewing beneficiaries is important.

When was the last time you reviewed beneficiaries? If you can't remember, it's time to go through every bank and investment account and insurance policy. Many women don't take care of themselves as they should. They end up being the primary caregivers of not only their children, but also their aging parents, yet they fail to think about what will happen financially with their children and parents should they pass away. This is especially true if you've gotten divorced. You wouldn't want to die and have your ex get your hard-earned money! Not sure where to start? Call a financial professional to guide you.


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Rahul Raj

Rahul Raj

This lazy StoryTeller forgot to write something about itself.


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