Twas the night before MENOPAUSE………hysterical

Tis the season to be merry.

So take a look at this fabulously funny spoof on a Christmas poetry tradition.

Twas the night before menopause….

 

Enjoy!

What are you waiting for?

Procrastination. It is soooo human. It is sooo seductive. If we  just put something off, we feel like we don’t have to stress about it. But, if we delay, dawdle, postpone, ignore, we actually deceive ourselves.

Why? Procrastination is magic. It is based on illusion. 

Illusion?

Yes. Because  you think that it costs you nothing to drag your feet.

But procrastination is amazingly costly!!!!!!

The longer you wait, the more you lose. The longer you dawdle, the more you squander your self respect.

This is especially true if you put off focusing on your money and its role in your future. The longer you wait to take steps to improve your finances, the more money you lose.

Good news. If you stop procrastinating, you could have your money working for you. Your Hot Flash Stash of Cash could be building up for you.

Bad news. If you continue procrastinating, for instance ignoring your credit card debt, you will squander amazing amounts of your money on interest payments and fees.

Sooooooo………….Stop procrastinating. Start to take control.

If you, yourself,  can’t get past the seduction of delay, (and can’t DIY within a month of reading this), consult a professional.

Conferring with a professional should not be a strange idea. After all, you turn to a professional to cut and style your hair, or paint your toenails. You go to  a professional to take care of your teeth…….So, if you don’t floss daily, that dental professional can help you, no matter how challenging the problem.

Your money challenges, right there on your procrastination list, can be deftly handled by a trained, experienced professional.  S/he can clarify what you need to do, give you a set of steps to take, and support you while you get you get your finances under control. And s/he can help you with that huge challenge– having enough money to pay for everything you need for the rest of your very long life. If you want the dignity and self respect that financial security brings, it is time to consult a professional.

So what are you waiting for?

 

Mistakes?

Sally Krawcheck wrote a great piece recently. I have to bring her wisdom to you.

She begins with a few  “misjudgments” we women might make. Now I am sure each of you is….perfect. But just in case you are a bit more human, and so may occasionally err (like I do), I thought I would list a few here.

This list starts with a few the mistakes that wives/partners often make. One or two might seem a  little “retro.” Read them anyway, making sure you have not done these things, because you trust a partner too much, or  think you do not have enough time, or will never face a crisis like divorce or the death of a partner.

1. Letting your husband or partner manage the money, without getting involved.

2.  Signing a joint tax return without reading it.  

As a woman in the 21st century, you need to know how much money you hold as an individual, how much he/she holds and how much you both hold jointly in accounts. You need to know where the money is stashed, how it is managed, and if it is managed or mismanaged. You also need to be able to discern whether your partner is hiding money or misdeeds from your  (like maintaining “another woman” or engaging in some nefarious and illegal activity) and doing so with your money and risking your good name.

You also need to know how much money your partner/husband earns. That dollar amount is written right there on the front page of the the tax return, and the W-2 slips that you need to provide to the IRS. If your partner earns a substantial amount, you need to concern yourself with the ways in which this money is spent or retained to increase your joint financial security. Does your partner/spouse share income with you? Do you each hold accounts in your names, and/or joint accounts? Or does he (or she) hold it all in his/her name?  Are there provisions made for loss, such as a death? Are there steps taken to make sure you will not be left penniless? And if you  have children, what has been done to provide for them, as heirs or orphans.

This becomes important whether you are dependent upon your partner for an income, or if you both earn a living. You need to make good decisions about the income you both earn. Why? In the 21st century, one of you is likely to lose a job, at some point–due to corporate restructuring, downsizing, mergers & acquisitions, etc. So you need to deploy your income while you each work to make sure you have an emergency fund (to tide you through job losses). And you  have to make certain you are saving enough cash from each paycheck and investing it in case of a long term loss of income, a disability or loss of your partner.

Let me offer you a third one on her insightful list. 

3. Making decisions about staying at home, versus retaining employment after you have children (or care for an ill parent, in-law etc.) without calculating the long term impact on your career and your family’s income, is a lapse.

Why consider this? Once you leave the workforce you are less likely to return to a position of equal status and income.  History has shown that women’s income is often only 77% of that of a man. Some argue that this lower pay is a function of our movement out of and back into the workforce. So, why not think this decision through, with the aid of a spreadsheet? Run some scenarios about the dates of your  return to the workforce. Make sure you calculate best case and worst case scenarios and then run a scenario for something in between these two.

These are just 3 of the “The Top 10 Financial Mistakes Women Make” according to Ms. Krawchek. I promise to offer you a few more in subsequent posts.

Hot off the presses!

Here it is! Your very own paperback version of  Hot Flash Financial!

It is a grown up version of the website. No actually it is a development of the Hot Flash Financial approach. Yes it retains the hot flash method– laugh while you learn. And it offers clear explanations of complex issues, plus a set of STEPs to follow, STEPs you can rely on, if you want to increase your financial security.

So why buy a copy?HFF cover

The more you  know, the more control you will feel. Your stress about money will start to melt away, because you will know what you are doing with your money, and how. That is the best way that you can improve your future.

And, by the way, it is cheap. Your $15 investment will pay back a thousand fold!

So, hit the link to  buy your paperback copy  “and get one today!!!!” (as they shamelessly say on TV)

You will be glad you did.

 

So,…………why not consider saving more money?

How can you do this?  

HERE ARE SOME EASY STEPS TO FOLLOW:

1. SET A GOAL FOR YOURSELF.  It can include adding to a savings account, or reducing your over all debt. Did you know that –in the past year, 1 in 6 American Savers selected paying off consumer debts as their goal?  

2. MAKE A PLAN that you can FOLLOW.  If you want an easy one, that does not take much of your time— increase your contributions to your retirement account. Go On-Line and change your contribution level, by a certain amount of dollars or a percentage (like 1%).  You will be in very good company if you increase your retirement savings:  44% of those who reported having a retirement savings goal made a change to their retirement plans.

If you feel you can do more than one thing, and want some guidance,  click on our site.

  • Select the ASK & ANSWER button and look at the drop down menu. Select Extra money? Is she kidding? and also read about Trade Offs.
  • There is more for you, if you would like.  Select the  ACT button and look at the drop down menu and select Build you Stash.

3.  LEARN A FEW GOOD SAVINGS TRICKS.

  • Think carefully about what  you will do with your tax refund.  Did you know you can use your #tax refund to buy US Savings Bonds? It’s an easy, safe way to diversify your savings.    Check out the Tweets at   #ASW2012           http://ow.ly/8IUNX
  • Join @AmericaSaves for tips, news, and advice to help you save. Reach your savings goals.  Follow #ASW2012  on Twitter, or go to http://ow.ly/8dnzz

 

Saving more money

We know this is a real challenge. But there is help out there.

 

Take a look at the great ” Start Small, thing BIG campaign of ASEC  during America Saves Week.

Here is their Bolded Blurb

Visit www.americasavesweek.org  (or #ASW2012)   to learn how you can take informed action. Start Small, Think Big!

Here is another link that they provide.

   Every day is an opportunity to www.choosetosave.org.   

By the way, ASEC stands for American Savings Education Council. Its a great group. Please click on their site and use their tools.

HFF Blog

Welcome to Hot Flash Financial!  We look forward to your participation in our online conversations!