1. What Every Woman Needs to Know about MONEY

2. Thank you FINRA
This program is provided through a grant from the Financial Industry Regulatory Authority (FINRA) Investor Education Foundation and the American Library Association (ALA). The grant is distributed as part of the Smart library® initiative, an ALA program. This project is in its sixth year of educational partnership with libraries across Colorado and the country.
Marsha Yelick CFA(retired)
Financial Programs Consultant
Ext 831

3. Women CAN manage MONEY! Major Themes Women and money go hand in hand!
Gain control of your financial affairs.
Learn and practice basic money management skills.
(Earn more than you spend.)
Major Themes

4. How well do Americans manage their money?
Consumer debt?
Retirement savings?
Balanced budgets?
People & Money

5. Short term decisions build to long-term goals.
Savings vs. Debt
Short term decisions build to long-term goals.
US Saving Rate

6. Do women manage money differently?
Women & Money

7. SURPRISE! Women are… Female Advantage
Better at the daily financial tasks
More responsible
Better investors
(higher returns)
Female Advantage

8. The Female Advantage(s)
More suspicious of “deals”
Take more time (slower)
Weigh alternatives
Do the research
Admit mistakes
Are risk averse
Have discipline
Ask questions
Are calmer
Have goals
Possible Reasons

9. What else is special (related to money) about being a woman?
(The young…
Young & Old
and the old of it!)

10. Disadvantage 1 Women still earn 77% less than men
Female Disadvantage(s) Part 1 (the young)
Women still earn 77% less than men
(on average – not equal work)
Reasons:
Part time
Interruptions
Careers of low pay
Disadvantage 1

11. Women live longer than men – and they are alone in old age.
Female Disadvantage(s) Part 2 (the old)
Women live longer than men – and they are alone in old age.
Reasons:
Life expectancy is five years greater than men
Women are younger than husbands
More than 40% are divorced
Disadvantage 2

12. Financial MISTAKES that make a HUGE difference $$$...!
Major Mistakes (that everyone makes)
Not saving for retirement…
Not having cash reserves for emergencies…
Not keeping a
budget…
Avoid MISTAKES

13. Financial MISTAKES that make a HUGE difference $$$...!
Major Mistakes (that WOMEN make)
Avoid MISTAKES

14. Checklist for all to follow…
Let’s have a PLAN
Thanks to Suze Orman, Women & Money

15. Attend to all things CASH
Create a budget & follow it
Track every dollar spent
Start building cash for emergencies
Balance your checkbook
Look for good short-term rates
Weeks 1 - 5
Spend money on others, Top page 6: Activity slide – pause for 2 minutes. (Search for happiness in spending $500).
Ask for responses to see if any fit into categories of creating happiness and wellbeing.

16. Weeks 6 - 12 Attend to Consumer DEBT
Have at least one credit card in your name only.
Understand your credit card bill and reconcile each month.
Create plan to pay off any balance (high rates first).
Understand FICO scores and find yours.
Weeks

17. Attend to YOUR Future Weeks 12 -24
Start saving regularly for retirement – aim for at least 10% of earned income.
Investigate any employer 401(k) options.
Learn about investments.
Discuss all retirement planning with current family members.
Weeks
Feel financially secure, middle Page 7 to middle of Page 8: First four of the list of things that increase financial security and additionally add to physical wellbeing.

18. Attend to your paperwork (or computer files).
Create the emergency file.
Get and give directions for all critical accounts and documents.
Create “must have” documents.
Review insurance coverage.
Weeks 1 -24
Feel financially secure, middle Page 7 to middle of Page 8: Last four of the list of things that increase financial security and additionally add to physical wellbeing.

19. to improve financial skills
Attend to on-going habits
to improve financial skills
Make it a habit of reading one financial article at least once a week.
Read a financial book every six months.
Talk to your daughters and granddaughters about money matters.
Common Cents

20. Common Cents Experiment with online calculators. mycalculators.com
choosetosave.org
finra.org/Investors/
toolsCalculators/index

21. totally dysfunctional
Ignore these…
Egg Money
Shopaholic
Common Cents
totally dysfunctional
Conclusion: Page 10: Interconnectedness and interdependence of all factors that contribute to wellbeing.
DUMB BLONDE

22. Five-part Basic Financial Education
Take free classes at the Library
Five-part Basic Financial Education
Everything you need to know to manage your own personal financial affairs.
Common Cents

23. Thanks for attending!
BE MONEY SMART
FOR LIFE