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Sep 24th
Home Sections Womens Section What Women Should Know About the American Way of Handling Money: Part I
What Women Should Know About the American Way of Handling Money: Part I PDF Print E-mail
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Sections - Women's Section
Monday, 10 March 2008 10:19


Image I was born and raised in the Philippines and got blessed with a wonderful man of God who was born and raised here in California. I was a CPA in the Philippines, got my licenses here in real estate, life insurance and several certificates on asset planning. For more than 8 years now, we have been mentoring people on how to manage money, build and protect wealth. Today, I would like to share with some of the basic tips that every woman should know about handling money.

1. Make sure that you have two sets of checking accounts, one joint with your spouse, another one just your own.
2. Have emergency funds for both accounts that will cover at least six months of your monthly expenses.
3. If you have kids, whether a baby or a few years old, teach them to set up their own savings and retirement accounts.  ING Direct offers 4% with no minimum requirements. 
4. The 10/10/10/70 principle. GIve 10% to God/charity, 10% to savings, 10% to investment and live on the 70%. I know it is tough to do that nowadays, but if you at least try 10/10/80, it will work too.
5.If for some reason, you are letting your spouse handle of your financial affairs, you better start learning and getting to it now before it's too late. A lot of women suffers a lot when either their spouse passes away or get divorced.
6. Do you have a will? Under whose title is your property on? Do you own multiple properties? Again, under whose title is it on? Do you have a safe box for all of your pertinent documents like passport, marriage certificate, birth certificates, insurance policies, titles, etc.?
7. Do you or your husband use a basic accounting software to keep track of your income and expenses?
8. When was the last time you had your financial check up?
9. If your spouse passes on today, how long can you survive with your savings?
10. When was the last time you discussed your dreams with your spouse? Do you even have a dream? Or did it die with your frustrations or disappointments? If you still have a dream, did you ever post it on the wall so you can see it everyday till you see it fulfilled?

These are just the basic things that we need to know so that we can have a brighter and better future. People don't fail to plan, but failed to plan. It is important to put your dreams in visual form, so that you can see it everyday and put it in your mind every single day. Whatever your mind can conceive and believe, you can achieve it. One more thing, the power of life and death is in the tongue, be careful with the words that you say each day. Every word that you say will affect your life today, and for the rest of your life, as well as other people's lives as well.

Please email me at zoe.tes@cox.net if you have any questions or comments on this article. If there is anyone who is interested to find out more, come to our weekly informational seminar at 18022 Cowan Dr., Ste 181, Irvine, CA 92614, every Tuesday night at 7 pm and Saturdays at 10 am. This coming March 15th, there is a sign language interpreter available.

This April, I will be conducting a seminar on "Prosperity4kids and Parents 2", a workshop based on biblical principles to teach parents and kids on how to handle money and build wealth at a young age. Please email me  if you are interested to attend.


Tes Fajardo-Wilson
Senior Real Estate & Mortgage Specialist
Financial Consultant
(949) 365-4436

It is God's will that we prosper and be in great health.

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Last Updated on Tuesday, 11 March 2008 23:17
 

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