Top 10 Money Tips for Women

When it comes to women and finance, sometimes there's a disconnect between what women know and how they act, their ability as achiever and their financial underachieving, and between the power they have within reach and the powerlessness that rules their actions.

Financial expert Suze Orman gives her list of the top 10 money tips for women to follow:

1. Listen to Your Gut

Women are compassionate toward those in need. Instead of going with their gut, they sometimes overlook the obvious and make an emotional money mistake. "A friend, relative, loved one will approach you saying, 'I need to borrow $5,000.' You'll think 'I don't want to' and yet you say 'OK,'" Suze explains. So, think twice before you say yes if your gut is saying no.

2. NEVER Co-Sign for ANYONE

If a friend or family member asks for you to co-sign on a loan, it's probably best to say no. Suze says more often than not, the borrower will default or pay late and you risk losing money or lowering your credit score because as the co-signer, you are ultimately responsible for the loan. Say no out of love, not out of fear.


3. Save Yourself First

If you don't have enough to save for your child's college fund and your retirement, your retirement takes precedence.

As explained in Suze's book "Women & Money," women think they are actually helping their children by paying for their college or wedding. It's a myth. You help your children by saving yourself first. If you retire without ample money to support yourself, you will become a financial burden to your children. There are plenty of loans for college, but there are no loans for retirement.

4. Don't Hand Over Finances to Your Husband or Partner

Suze says women often hand over their family financial matters to their partner because they are either scared, lazy or following an old-fashioned role.

Being in control of your financial destiny requires that you be an active participant -- not just by paying bills, but in overseeing your investments, too. Suze: "Take this step and I think you will be surprised how this helps your relationship."

5. Don't Put Yourself on Sale

Don't treat yourself like you're on sale. If you're reluctant to put a real value on what you do, then it diminishes who you are. As Suze explains, women tend to devalue what they do.

This creates a vicious cycle: "When you devalue what you do, it becomes inevitable that you -- and those around you -- devalue who you are." Women will settle for less. They may offer discounted prices on their services or accept a smaller raise, even when the company is doing well. They have to ask for what they know is "right."

6. Protect Your Assets: Get a Pre-Nuptial Agreement

The basic rule is that you are jointly entitled to assets accrued during a marriage and you are on the hook for debts accrued during the marriage. Anything you bring into the marriage is not automatically shared. Protect your assets.

7. No Blame, No Shame

Two of the heaviest weights women carry (invisible twin obstacles of the past) are the burden of shame and the tendency to blame. Suze explains: "If you don't feel confident in your knowledge of how money works, you hide behind the shame of it, deferring decisions to others or staying stuck in a pattern of inaction. You blame society, your parents, your husband/partner or all of the above. Blame renders you powerless and shame only serves to hold you back." You have to go and find out about personal finance for yourself.

8. Take Care of Your Money

Women nurture people and things that are important to them. So take care of your money the way you do your husband/partner, family, friends, pets, plants and clothes. Cherish money like all of the other irreplaceable items in your life. Find wise investments, save and don't throw it away on meaningless things.

9. Don't Make Your Underage Children Life-Insurance Beneficiaries -- It's a No-No!

Life insurance companies will not make a payout to children under 18 years of age. Suze suggests you create a trust account and name the trust as the beneficiary of your life insurance policy.

10. Own the Power to Control Your Own Destiny

Give to yourself as much as you give of yourself. Power comes from who you are, not what you have, and the transformation starts with how you allow others to treat you. Do what's right, rather than what's easy.

Suze says, "Remember to muster up your courage and silence your fear ... keep your eye on the goal, on what you really want to accomplish, no matter what anyone says or does to deter you. Just keep moving forward."

by yahoo finance

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Asia stocks rebound after UAE pledges bank support

HONG KONG (AP) -- Asian stock markets rebounded Monday from their steep fall last week after the United Arab Emirates moved to contain the fallout from Dubai's debt crisis.
AP - People walk past an electronic stock indicator in Tokyo, Japan, Monday, Nov. 30, 2009, showing global markets including ...

AP - People walk past an electronic stock indicator in Tokyo, Japan, Monday, Nov. 30, 2009, showing global markets including ...

Major markets jumped by 2 percent or more after tumbling on Friday amid fears Dubai's debt problems could lead to more financial instability and were a sign of hidden troubles elsewhere in the still weak world economy.

The UAE's central bank helped soothe investor fears, at least for now, by pledging Sunday to make extra funding available to all banks in the country, including foreign institutions with local branches.

However, the bank's announcement, aimed at shoring up confidence and averting a bank run, did not mention any specific help for Dubai. The troubled emirate, which splurged on flashy developments and other investments during the credit boom, said last week it now needed at least a six-month reprieve from paying its roughly $60 billion debt.

In its first day of trade since last week's bombshell, Dubai's stock exchange dropped nearly 6 percent on Monday.

Nearly every market traded higher in Asia, with Japan's Nikkei 225 stock average climbing 264.03 points, or 2.9 percent, to 9,345.55. Hong Kong's Hang Seng added 738.34 points, or 3.5 percent, to 21,872.84 and South Korea's Kospi added 2 percent to 1,555.60. Both those markets tumbled nearly 5 percent on Friday.

Elsewhere, Shanghai's market climbed 3.2 percent, Australia's index was 2.7 percent higher and Taiwan's benchmark rose 1.2 percent.

In India, the stock market gained 1.9 percent after the government said the country's economy grew 7.9 percent last quarter, far exceeding expectations.

Asia's turnaround followed Europe, where markets recovered Friday.

Uncertainty surrounding Dubai's fate sent Wall Street lower, though the losses were less than other markets.

The Dow on Friday fell 154.48, or 1.5 percent, to 10,309.92. The broader Standard & Poor's 500 index fell 19.14, or 1.7 percent, to 1,091.49, and the Nasdaq composite index fell 37.61, or 1.7 percent, to 2,138.44.

Wall Street futures pointed to a higher open in the U.S. Monday. Dow futures were up 37, or 0.4 percent, at 10,329 and S&P futures gained 6.7, or 0.6 percent, to 1,096.20.

Oil prices rebounded to near $77 a barrel in Asia as panic about the global fallout from Dubai's debt problems abated.

Benchmark crude for January delivery rose 42 cents to $76.47 in electronic trading on the New York Mercantile Exchange. The contract fell $1.91 to settle at $76.05 on Friday.

In currencies, the dollar fell to 86.16 yen from 86.65 yen. The euro was higher at $1.5056 from $1.5009.

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Cars On Finance

Buying cars on finance is something that almost everyone who owns a car will have to do. It can seem a bit overwhelming if you've never had a car purchase financed before. There are so many choices available to you, and so many details that are involved in purchasing cars on finance, that it's easy to just take all your advice from the lender. But there are some cars on finance tips and tricks that can help you get the best deal.

Stick to Your Budget

Decide how large your monthly payment can be and don't go beyond that, no matter how tempted you are. And do not tell the lender or car dealer your maximum budget amount. You're sure to end up with a payment that's exactly your maximum budget in that case. Instead, find a car you're interested in and based on four years to pay it back, figure about how much the payment will be. Then negotiate with the dealer on the best price for that car. Haggle with them until the final cost of the car actually equals the sticker price cost. Then when the amount of the monthly payment is revealed to you, you can make adjustments as necessary.

Get Your Credit Report

Before you go anywhere that offers cars on finance, contact one or all of the major credit reporting agencies (Equifax, Experian, TransUnion and Innovis) and get copies of your credit reports. Going through one of them, pay for your credit score. It can cost as little as $8 to get that agency's score. You'll want to know your number before you go looking at cars on finance. That way, when the dealer comes out and says you can't get their advertised low rate because of your credit score, you're armed with information.

If you have less than perfect credit, it can help you make decisions, too. You may want to wait until you improve your credit score before applying for cars on finance. If you wait until your score is much better, you'll pay on a less interest rate and get a much better deal. You definitely don't want to apply for a car loan and be turned down for it because of your credit score, because the act of them checking your credit and turning you down for the loan can further hurt your credit.

Look into a Bank Loan

While dealerships offer loans for your convenience, (and their profit,) you will probably get much better terms for cars on finance if you go through the bank where you have your checking and other accounts.

Stick with 48 Months

Dealerships will offer you loans up to six years for cars on finance. Unless you have no other less expensive car options and can't afford a higher monthly payment, avoid anything over the standard four years. The longer you pay, the more you pay in interest fees and the worse the investment is. If you get the dealer at the right price for the car you want and the payment is too high, try to negotiate further before extending the loan on a car on finance to save yourself money in the long run.

by carsdirect

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