A large percentage of my clients are single women. And, many of the women have very little knowledge about their own finances. There are many reasons for their lack of knowledge. Sometimes, if they were married before, their husband “took care of” all the finances. The worst situation is when someone’s husband dies, and the wife is left to not only pick up the pieces of her life, but also to try to understand all of the finances for her life.
Here are some ideas on how women can “get smart” about money from USA Today: Women & Financial Freedom.
A few tips: talk about money with your partner, be involved in the decisions, know exactly where your accounts are, and how much money you have. Don’t let your husband or significant other bully you into being ignorant about your money as a couple, or a family. It’s your life, and your money. You need to know.
The most important thing is to pay attention to what is going on. See my blog article which explains that concept.
Don’t be intimidated. So many people, especially women, even start thinking about their finances, and their eyes glaze over. You don’t need to read the Wall Street Journal to know a little about money. Take a look at your bank balances, your 401(k) at work, and ask questions. That’s a great place to start.
If you get some collection letters in the mail, or legal papers, and you don’t know what they are, ask questions, call a lawyer, find out what is going on! Don’t ignore these things. They can only get worse if you don’t take care of them. Women, if you have questions, call us. We can help!
Daniel J. Winter
BankruptcyLawChicago.com
312-789-9999
Offices in Chicago, OakLawn, Skokie, and Gurnee, Illinois.
