 | | Feminine Financial Checklist | | | | To keep yourself on track to healthier personal finances,
start here by setting due dates for your own financial to-dos. Click the button
next to each item to add it to your Yahoo! Calendar or
print out this checklist of
to-do's and check off each item as you complete it. Get ready to
face your
financial fears today!
For more information on each item, refer back to Suze Orman's article: "
Career Pitfalls Women Face and How to Avoid Them". | |
|  | |
| | Max out on your retirement savings options.The good news is that women live longer than men; the potential downside is you may need your retirement income to
last significantly longer. That means saving as much as possible while you're working. If you have a 401(k) at work,
you're nuts if you aren't contributing enough to get the maximum company match each year. That's free money you can't
afford to turn down. But if you are also eligible for a Roth IRA (income below $95,000 if you are single; below
$150,000 if you are married and file a joint tax return), I want you to only invest in your 401(k) up to the amount
that gets you the max employer contribution. Then fund the Roth IRA up to the annual $4,000 limit ($4,500 if you are
at least 50 years old). After you have the Roth taken care of, you can boost your 401(k) contribution up to its annual
limit, which is $14,000 this year for those of you under 50, and $18,000 if you're over. And if you are expecting to
take some time off to raise a family, contributing to your 401(k) while you can is all the more important. | | | | | |
|
|
| | Have an eight-month emergency cash fund.The harsh reality of today's work environment is that no one is guaranteed a permanent job. This is why it's so important to
have an emergency cash fund that covers eight months of your living costs. That way if you get laid off-or hey, decide to
take a break and look for a better job-you will be able to cover your basic living expenses. | | | | | |
|
|
| | Keep at least one credit card in your name only.If you are married, I still want you to have at least one credit card that is solely in your name. Remember, your ability to
get a good interest rate on a car or home loan, or even a good car insurance rate, is tied to some extent to your FICO
score. And a good FICO score depends in large part in having not only a favorable, but also a traceable, credit card
history. If you are widowed or divorced (sorry for being glum, but you need to prepare for any of life's "what ifs"), you
want to have a FICO score of your own. If it's tied entirely to your husband's, you will be in a financial pickle. | | | | | |
|
|
| | Make sure you have enough life insurance.If anyone is dependent on your income-be it children, a spouse, an elderly parent-you need a life insurance policy that
will replace your income in the event you unexpectedly die. Don't blindly buy a policy offered by your employer. It may be
good, but it always pays to comparison shop. You can start shopping for a term insurance policy right here at Yahoo's Life
Insurance Center. | | | | | |
|
|
| | Own a home outright.The most financially empowering move you can make is to own your own home, free and clear of the mortgage. Talk about
security! It's also a smart move given the propensity for older workers to be pushed into retirement a bit earlier than
anticipated. Whether you are single or married, once you reach 50 or so and are in a home you intend to retire in, speed up
your mortgage payments to get the loan paid off ASAP. By taking care of this big expense, you will have a ton less financial
worry when you do retire. | | | | | |
|
|
|
