From The Speaking of Women's Health National Conference
Invest in yourself, because your earning power may be your greatest asset. Keep it strong with continuous education and training. Remember that good physical and spiritual health will enable you to do fulfilling work longer.
Have a plan - make sure you set your goals and adjust your attitude. Determine your cash flow and set a course on how to fund your goals.
Work on what you can control: analyze expenditures, prioritize spending and set up a direct deposit account for funding goals. Be an educated consumer.
Eliminate the anxiety of living "paycheck-to-paycheck" by having an account with at least three months' worth of fixed expenses invested, so it is available for an emergency.
Carry cash whenever possible. Why? Psychologically, it is harder to spend cash, than to use a credit card. This way you can eliminate credit card debt and borrow sparingly.
Take advantage of tax benefits - any vehicle that assists you in building wealth should be utilized, such as tax-deferred retirement plans, education funding plans and home ownership.
Whatever you can get for free - take! And take it as early as possible. Taking advantage of benefits packages at work can be a great assistance - make sure you get the full match on your retirement plan, use the flex spending account and read the benefits book for other items available to you such as health club dues or tuition reimbursement.
Make sure your investments fit your goals. Don't invest in the stock market for a goal that is only a few years away. Likewise, don't keep long-term funds in a money market account where you will earn very little. Be sure to simplify, diversify, and rebalance your accounts each year.
Get peace of mind by protecting your family. Be sure someone knows where your financial documents are kept and have adequate life, disability and property insurance. Be sure your will is current and that you have signed a living will, a health care proxy and a durable power of attorney.
Create a financial team with you as the "Captain." Professionals, such as bankers, financial planners, lawyers, accountants and insurance people, can help you devise your plan. However, you set the direction and must always be the decision maker.
