I think everyone can learn new tricks to keep their “money buckets” full. Your bucket may not be overflowing with cash, but from a life balance perspective, you can do many things to take control of your life and your money. Suze Orman and Mellody Hobson are two of my personal finance heroines when it comes to women and financial empowerment. Here are a few great tips and tricks that I have learned from these two remarkable women:
1. Disconnect your appliances. Appliances that are turned off can still use energy when they are plugged in. So save money and help project our energy resources by disconnecting anything that doesn’t have to be plugged in all the time.
2. In case of a disaster, memorize your SSN and the SSN of your spouse and any children that are minors.
3. Take care of your retirement first, and then focus on saving for your children’s college education. I love this Suze Orman quote “There are no loans that you can take out to fund your retirement, but there are many loans your child can take out to fund his/her education.”
4. Buy stocks for your children on their birthday or a special holiday. Let them receive dividends in the mail until they realize reinvesting their money will bring more money.
5. Read one of the following books:
Financial empowerment is so important for women. Glad to know more and more people are blogging about this important topic. Another must is to find a financial planner. Not necessarily someone who will manage your money, but someone who will review your current financial situation and provide sound objective advice to help you reach your financial goals.