Sunday, February 10, 2013

Ugh...Grown Up Time! Finances!

I recently attended an event sponsored by Ladies NYC and LearnVest called "Planning for Your Future."  It sounds painful, doesn't it?  But it wasn't! A couple of girlfriends and I went, drank some wine, played with the most adorable Shiba Inu, and got some answers to questions that nobody likes to ask.

And since you didn't go with me, I jotted some notes down. There are some gems! Did you know there is such a thing as getting your credit report for FREE? And a website for comparing wireless services, cable, gas stations, and more? The money you save right there can totally go toward a shopping trip! Ok, so I didn't immediately transform into a financial guru but I like to think I'm well on my way!

Read on for the fun resources I got from the seminar:

LearnVest's Six Money Mantras

1) Organization is half the battle 

Look at what you're spending your money on:

Check out LearnVest's Money Center: It's like Mint but better.

2) Follow the 50/20/30 Rule of Budgeting.

50% or less goes to the essentials such as housing and utilities
20% or more - saving for financial future
30% - the FUN stuff is a great way to find ways to cut out spending, such as finding the cheapest cable provider.

3) Save for the future now. 

Take advantage of your 401K and IRA options.

4) Have an Emergency Savings Fund.

This should be 6 months of net pay!!! We all nearly spit up our wine when we heard that.
Automate a money transfer.

Use to find a good non brick & mortar bank. That way you aren't dealing with a bank that has a lot of costs that will in turn have fees for banking.

5)  Conquer debt & Master Your Credit Score. free credit score check. You should be doing "soft" credit score checks monthly. This will not affect your credit score as "hard" inquiries, such as for home loans, car loans, etc. do. 

6) Protect Yourself

Look into Renters insurance and Life insurance.

If you want to get a financial advisor from them, that will cost money on the site. However, LearnVest has a lot of great articles and resources for FREE online. Check it out

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