This is all about women. WOMEN……for men reading this, you love them and sometimes hate them, don’t you? For women reading this, sit up and pay attention. This is important and I want to stress on it again this new year, 2014!

Simply put, it’s about women and money. True, money isn’t everything, but mind you, everything is money. Ask anyone on the street! You can’t literally move to do things without involving money. Time is money – the opportunity cost. I posted before about Financial Planning for Women. In it, I mentioned that most women would at one point in time, be single (again). It could be by choice (stay single, unmarried), divorced or being a widow. The stats recorded that women tend to live longer (than their husbands).

Having said that, wouldn’t women need money to be self-sufficient to last them their lifetime? Married women need to plan as if they are single. Don’t take it for granted that your husband is your retirement plan. He is NOT! If he is, that would be a bonus. Congrats! For now, take it as “NOT”, so plan ahead, solo.

Women, most often than not, would be sandwiched between young, growing family and ageing parents. Taking care of parents’ needs do not only involve time, but money too. Medical expenses, special diet, holiday, etc. Understanding women, they would rather use their own funds to pay for all these, instead of asking from their spouse. Parents are our own responsibility. Of course, no smart women would refuse the generosity of a spouse, to display respect and love for their in-laws.

Then, comes the issue of children’s higher education, the college and/or university fees. Parents always want the best for their children, including or especially education. In most families, our gift as parents to our beloved children would be the “golden key” to achieving financial freedom, and that “golden key” is none other than “Education”. We believe in not serving fish for the kids to eat but to provide them with basic tools to fish for themselves. We firmly believe that education opens doors to better and more secured future. It creates more options for one to choose. Therefore, most parents would strive to save as much for their children’s education. Funding them for as long as they are still studying.

However, if the choice is between children’s education and your retirement, woman, brace yourself and choose your retirement. Why? If you do not have sufficient fund for his/her education, there are other sources. There are study loans available, scholarships, or perhaps, he/she could work part-time. However, if you decide to save for children’s education and left with insufficient fund for own retirement, may I ask, where would be the source of funding for you? Live on charity? Now, do you see my point?

Women are known to take better care of people around them than themselves, especially their loved ones. Where the loved ones are concerned, there is always a bit more energy left, a bit more money spared, there is always time (just take away the me-time, tea time, short rest, even sleep)….the list goes on. It is amazing where they get all the energy from! They work so hard and still able to smile. Please don’t hate them but cherish them.

Men, now this is your part. Encourage your wife, daughter, sister, friends to plan for themselves, for a better tomorrow. If not, YOU better plan well for them. Which, I don’t think you would do or do so well. So, encourage them to seek knowledge or professional advice in financial planning. It is never too early nor too late to plan. Just do it now.

I hope to see more women be financial savvy this new year. Read and understand personal FINANCE. Know what you want and plan to achieve that goal. Dare to dream. You deserve to enjoy life after contributing so much during the earlier years. After planning, act upon it. It is alright to start slow or baby steps as long as you get started. As time goes, as you get more and more familiar with it, you’ll pick up pace and be more daring. Finance may be boring or even scary for some. Face it and you’ll soon realize that there isn’t anything to be afraid of, other than an insecure future, an empty nest for your golden years without planning.

~ Alice N.

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2013 in review

The WordPress.com stats helper monkeys prepared a 2013 annual report for this blog.

Here’s an excerpt:

A San Francisco cable car holds 60 people. This blog was viewed about 2,400 times in 2013. If it were a cable car, it would take about 40 trips to carry that many people.

Click here to see the complete report.