If you are going to use a website or app, make sure you understand the monthly cost for budgeting. Include savings for future financial goals and/or emergencies as a “fixed expense.” Use apps or websites like PowerPay, PowerPay Debt Elimination, or a worksheet to keep track of spending. Reduce expenses to achieve your financial goals. You can also split your paycheck and deposit it into checking and savings or investment accounts. If your employer matches your savings for retirement, save at least the maximum match amount. If possible save through an employer-based tax-deferred retirement savings plan. What gets written down and planned, gets done. Make SMART goals and “do the math” to calculate the savings required each month or pay period. You can work on more than one goal at a time. Set long term goals like a vacation, a college fund, buying a newer vehicle or a house. Dream a little and make a “bucket list.” Set short term goals, like saving for gifts or new tires for your car. Set personal goals, family goals and if applicable, business goals. Keys to Personal Finance Write Down Your Financial Goals So, let’s explore some keys to personal finance that all women need to know. Some will see their marriages end in divorce and some will outlive their husbands. It is estimated 85% to 90% of American women will be on their own financially at some point in their lives. And, more women lack financial knowledge and experience.

Women are impacted more severely than most men by events like divorce and widowhood. Women may have gaps in employment that impact their financial futures, such as retirement benefits. On average, women live longer and earn less than men.

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