While many women have no problem cutting coupons or finding a great deal, they may lack interest in long-term financial planning.
Especially in this economy, many successful men, whom you would never suspect, have gone through bankruptcy or foreclosure. Some have even done this as a financial strategy to survive the challenging real-estate market. If your spouse is in that position, the wife’s credit may be the only way you’ll be able to secure a mortgage, a lease, a car or a credit card.
It is common knowledge that women tend to live longer than men. Therefore, it is important for women to establish their own credit for life events and monetize assets into their own name. For example, the sudden death of a loved one leading to an inheritance or transfer of assets into the wife’s name can be overwhelming. There are organizational tools that we use at Ponder Financial Firm to help clients know what accounts they have, where they are located and what names the accounts are under.”
If you’ve never been responsible for your finances before and want to start taking control, Connect With Us Today for a complimentary one-hour Empowering Women Consultation and Kit.
Understanding the family finances is essential to creating a budget and knowing what cash equivalents and investable assets are available in order to develop a clear financial picture of the family balance sheet.