These are the 5 pieces of advice that Jonathan DeYoe deems to be most important in the lives of women.
Educate yourself about personal finance
- take classes
- attend seminars
- learn about budgeting
- learn about investing
- learn about emergency funds
- learn about insurance
90% of women care for their own finances by themselves at some point in their lives.
Know the specific issues that face females in financial planning
- women tend to live longer
- traditionally, women earn less money for the same work as men.
- women are about twice as likely to act as caretaker to a parent than a man is
Go through the financial planning process, & remember to pay yourself first.
- you will learn about tradeoffs
- you will learn about good and bad behaviors
- live your life by design, not by default
The main rule of financial planning: Spend Less Than You Make
Stay involved and understand where your investments are
- be involved in the planning
- understand your investments and savings
- start planning early