November 12, 2015 § Leave a comment
We all know how the costs can add up around each special event and holiday. How can we be thankful on a budget? We can and if we are careful we can lift a lot of stress for our shoulders and make the day more about gratitude for all of our blessings and way less about us.
Food – Reward cards, loyalty programs, coupons and cash-back may all be ways to get the turkey and side dishes more cheaply. According to the Bureau of Labor Statistics, September turkey prices have historically been LESS expensive than the price of turkey in November. Though it is already November you can still save money now by stocking up in the weeks prior, when there are deals on canned or frozen veggies. Try not to buy things the day before you need them. In a frantic, last-minute search of the store we tend to overspend.
Sharing – If everyone brings something to Thanksgiving dinner, expand what the potluck needs may be so that people bring a COUPLE of dishes instead of only one. ‘Sharing is caring,’ right? Supercharge the concept, accepting how others prepare favorite dishes, so that you can save on money and hassle and allow them an opportunity to give to others. Let others help in the festivities, my friend.
Décor – Studies have shown that the average family spends $100 on decorations for each holiday. You may have the luxury of doing even more than that. BUT you could make this a cost-effective holiday by making this cozy chic. Instead of buying everything, think more creatively.
Having a lot of company with not enough matching dishes? Use mismatched plates for a chic and cozy look. Use the amazing talent of kids in your circle to help with décor. Have the kids decorate paper or even fabric napkins. Use brown paper as a table runner and have the kids decorate that as well. Collect cones and branches from the neighborhood, or lovely red Winterberry from the roadsides for displays around the house. We are blessed in this region with a bounty of beauty right out our door. You can make the house festive for free. Get on Pinterest and get some excellent and cost-saving ideas.
It doesn’t cost anything to be thankful. Gratitude is a matter of the heart, my bud. Remember the why of the holiday and relax. (CR11159)
May 3, 2012 § Leave a comment
A study called Women, Money and Power, conducted over several years, examined women and investing with a particular view towards the kinds of educational material women like for financial concepts. Additional research provides some significant findings on the learning styles of men and women.
The Facts- I’m not addressing the sociological reasons for any of these issues because that’s not the point here. The point as I see it is that I meet women every day who face these facts every day. . The Earnings Gap-Women in the workforce earn on average 77 cents for every dollar men earn, which adds up to a LOSS of about $300,000 over a woman’s lifetime. Work Patterns- Nearly 24% of women work part time, are likely to spend 12 years out of the workforce and forego jobs with benefits for family responsibilities. As a consequence of the previous facts there are both retirement savings and a Social Security earnings gap that is concerning.
The Challenges– In addition to the financial data noted above, there are life events that are thrown in the mix: starting a business or new career, being part of The Sandwich Generation – meaning you have grown kids and aging parents to care for, as well as possible changes in martial status through divorce or widowhood. Another challenge is a gap in women’s financial literacy. When surveyed 90% of women feel that financially insecure. Many women have no idea where to start to figure out what they need for retirement savings. We also have been blessed with generally longer lives than men. So far, the facts add up generally to less money, longer lives and we a feeling of inadequacy to the financial task before us
What Women Want- Women want to know how, and where, to start. We want to learn in a pleasant and personal way. And we want to know how to invest for our age and our unique goals. We want an advisor, if we use one, who engages us as a coach, someone who will help when we have conflicts with our partner or roadblocks in communication. And we want to understand many aspects of our money including philanthropy, savings for our kids or grandkids, as well as investing for our future.
Be STRONG– We are women. Like men, we face hurdles. Everybody’s got something, pookie. Yeah, we want a great future but we are often passive and don’t advocate for our learning needs. We sometimes put up with poor information, over-our-head talk or crappy help.
Girl, you need to care enough about your own future to demand great help, advocate for clear understanding and make sure you do what needs to be done, and find tools or people to help you know what’s going on with all of your money. GI Joe was right. Knowing is half the battle. And as you know more you’ll develop the confidence you need for managing your financial future and to help you teach your daughters and sons about money.
August 25, 2011 § Leave a comment
7.) Have a budget. Wikipedia says that the word “budget” is from the old French word for “purse!” What’s not to love about that?
University VP of Finance Natalie Krawitz describes a budget like this: “The budget is the numerical representation of an action plan for a specified time period.” It is that simple: numbers that represent actions = budget.
Just like many styles of purses or many types of future plans, there are all kinds and styles of budgets: simplified, detailed, paper or electronic, even budgets for planning a certain event like college or your summer vacation. Need help finding a budget that works for you? Surf the web, and type in budget.
August 15, 2011 § Leave a comment
5.) Organize the paper- Where in the world is…the important stuff? Take control of your money in part because you can find the account statements and checking account records when you need them. Toss old paper. Know the investments account numbers and where they’re held, agencies for your insurance, the types of accounts at financial institutions, etc.
To compile all your information on one form check out my form Taking Control of Your Records available on my web site (NorumbegaFinancial.com) under the FORMS and TABLES tab, or http://norumbegafinancial.com/assets/TakeControl.pdf
Once you have the records in order you may want to let a loved one know where you have filed the papers as a back-up in case of illness or emergency. You may also use this record-keeping task as part of your family’s annual ‘what are our financial goals’ talk – which I hope you have every year- with your honey bunch.
August 4, 2011 § Leave a comment
4.) Learn the lingo – There are some common financial terms that you should know and that I know you can learn, even if you don’t really care that much about all of the details of finance. Since my husband loves car stuff, I’ve heard terms like carburetor, manifold and the like spoken of enough that I’ve learned a little about those items without doing a lot to learn it. Just hearing the words spoken of by someone I love have gotten the terms in my head. I’m not a mechanic, (I mean really?) and I don’t pretend to be one simply because I understand the basic terms, but I sort of understand what’s being shared with me when we talk and I can help think through problems when we talk.
I’m sure you’ve also observed how quickly kids learn words and terminology . Words that you may not want them to learn they may quickly remember simply by being exposed to new terms. I think this makes the point that you can become familiar with the financial terms that are fundamental so that you can be the boss of your money world.
Over time, and adding just a bit of knowledge to your foundation, you’ll know who’s pulling you leg and who’s doing things in a way that seems right and good for you. The kinds of basic lingo, or terms to know, for instance, is being able to explain what a mutual fund is and how it differs from a CD.
However you learn, whether reading about it, talking to someone or getting a kid’s picture book, please do this.
May 26, 2011 § Leave a comment
5.) Don’t let others disrespect you – demand helpful advisors
When you have an advisor you have a helper. My clients have ready access to all this information because I help them learn how to be in control of their money. From budgets to tougher emotional decisions, from names of great accountants to wonderful attorneys, whatever I can do is done for a bright and well-planned financial future.
Do you know how many folks I work with who tell me that they have no idea what’s going on with their money because their present person doesn’t speak with language or they never see them.
Don’t let advisors who are supposedly there to help, disrespect you instead. If you don’t know what the heck they are saying what are you doing business there? We are all different so there are CPAs, attorneys and financial advisors for every type of person. Advocate for yourself! Find the advisor that speaks to YOU! Insist on it!