can you guys suggest resources for financial advice for newly divorced women? i am hopefully going to finalize all the filings in the next week. I want to be smart with money. I know a few friends have gone to financial advisors. I have typically been self-taught with most things in my life. has anybody been particularly impressed with a book or a certain resource?
Goals: 1. Stop thinking like a chronic dieter and start living to inspire. 2. HALT (hungry, anxious, lonely, tired) I will stop and tune in with myself should I experience these things, and respond with something healthy. 3. One word 2008: courage 4. Eat slow and mindfully.
Goals: 1. Stop thinking like a chronic dieter and start living to inspire. 2. HALT (hungry, anxious, lonely, tired) I will stop and tune in with myself should I experience these things, and respond with something healthy. 3. One word 2008: courage 4. Eat slow and mindfully.
wow peg! i am going to check out all those blogs, and the books as well. thanks so much. i have a lot to chew on.
Goals: 1. Stop thinking like a chronic dieter and start living to inspire. 2. HALT (hungry, anxious, lonely, tired) I will stop and tune in with myself should I experience these things, and respond with something healthy. 3. One word 2008: courage 4. Eat slow and mindfully.
Hi Iz, Personal finance is another area I have found the internet to be a real support.
I have to say that personal finance is actually a HUGE arena and I think that most of us have to choose to focus our learning/reading on the most pertinent arenas for our current needs. For example, I am focused primarily on debt reduction/living within means/budgeting sort of areas right now because that is really what my finances needed. I have been doing that for over 2 years though and can see that I'm starting to be ready to start learning more about investing and managing retirement assets more effectively (both because I've accumulated a nice chunk and because I'm ready to learn new things). I already had a good handle on paying my bills on time, property ownership and not getting over limit/over draft issues going. Some people have to start there. What I'm getting at here is that unless you have more time to dedicate to this issue than I am thinking from what I know, you might want to focus your research on 1 or 2 specific priorities.
Sounds like home ownership decisions are part of your puzzle right now so I will second the vote for David Bach books (Start Late, Finish Rich and Smart Women Finish Rich). He is particularly focused on home ownership as a route to wealth building so he will do a good job of outlining the 'pros' of that. I personally agree with him so I'm not a good one to offer a suggestion for the counterpoint but I'm sure someone out there does offer a counterpoint.
I also think that Suze Orman is a smart lady who can be a bit hard to take in big doses. I LOVE her The Road to Wealth book. It is sort of like a financial dictionary where you can pull it off the shelf and get basic information about all sorts of personal finance issues. I wish she'd update it...it's from the early 2000's so some information may well be out of date but it still is a good foundation book to take a look at. I looked at it from the library and intend to buy it off the used market at some point. It's readily available for a low price.
There is an amazing world of personal finance blogs out there and I'm positive there are probably some focused on the journey and/or issues of newly divorced women. Blogs are a lot like diet books though...you have to be a somewhat discriminating consumer. I would read lots of blogs and look for consensus on any big issues that you are looking for info on. Not everyone agrees on things but there really are generally a few valid approaches to most things and if you find some wild guy out there doing crazy stuff, don't go drinking the koolaid. I'll give you links to my 3 favorite PF blogs right now and realize that they have the focus I mentioned above. More importantly, they all have blogrolls that will lead you in any number of directions in the blog world.
No Credit Needed is written by a regular Joe in GA that has successfully gotten out of debt and can explain things really well. He has a well maintained, diverse blog roll.
Blunt Money is written by a lady who has lived the divorced woman scenario. She's remarried now but she does talk about things around the divorce, is out of debt and trying to explore the world of investing.
I've Paid for this Twice Already is still extremely focused on debt reduction. She writes well, with humor and prolifically! LOL She has a huge blogroll that I'm sure is well maintained.
If you are new to the world of blogs and get sucked in, I like www.bloglines.com as my blog reader but Google has one too that's very popular.
HTH! You're doing great Iz. I'm a single lady who probably needs what info is in Kiplingers but I can't wade through it either. I do like Money though.
thank you guys! i have to slow myself down because i tend to bulldoze new projects instead of going at a healthy pace. big surprise.
thank you for all your encourging words. i needed them today.
Goals: 1. Stop thinking like a chronic dieter and start living to inspire. 2. HALT (hungry, anxious, lonely, tired) I will stop and tune in with myself should I experience these things, and respond with something healthy. 3. One word 2008: courage 4. Eat slow and mindfully.
A friend of mine who is just recently divorced, is a banker and recommends Smart Women Finish Rich. I started reading it and found it full of great information.
Posts: 1379 | Location: West Florida | Registered: March 12, 2004
I want to second Sheri's suggestion of Suzy Orman. She's good for everybody, but especially women - I think that's a particular interest of hers, to make sure women can handle finances and aren't caught when a man is no longer in the picture.
Originally posted by iz: dh had bought me a subscription to kiplingers a year ago and i thought it was too boring to read. how foolish i was. who knew it was so foretelling....
I don't think it was foolish at all. You were in a different place then- with different thoughts, feelings, ideas. No sense bashing what you did back then under totally different circumstances.
thanks gang! i found some tools on the web that help you to calculate whether it is financially feasible to rent versus own. and i will order the Suze Orman book. dh had bought me a subscription to kiplingers a year ago and i thought it was too boring to read. how foolish i was. who knew it was so foretelling....
the majority of divorced/widowed women lose a significant amount of their financial status. many dip into and under the poverty line. how compelling is that fact?!?!!!
thanks for the kudos. you guys are awesome
Goals: 1. Stop thinking like a chronic dieter and start living to inspire. 2. HALT (hungry, anxious, lonely, tired) I will stop and tune in with myself should I experience these things, and respond with something healthy. 3. One word 2008: courage 4. Eat slow and mindfully.
Suze Orman's personality can be hard to take sometimes, but I do think she's very gifted when it comes to financial savvy and I also think she has written a book specifically for women if I recall. I think any of her books or tapes would be helpful. I think the one I have is Seven Steps to Financial Freedom but I can't remember if I have another one of hers too.
I have my financial advisor through Ameriprise (American Express) and have been relatively pleased. As with probably any advisor you'll get through a major company, they're always goign to try to push their company's product first, but if you have a good one, he/she won't be hemmed in by only that.
I'm proud of your taking-the-bull-by-the-horns attitude, Iz!
Personal Healthy Habits Challenge - 10/1 to 12/31/08: 1. Exercise: Get back to consistently working out 3-5 X week. 2. Food: Get back to consistently preparing healthy lunches for the week with increased veg servings. 3. Behavior: Reduce intake of sweets.
Posts: 7302 | Location: Rehoboth Beach, DE | Registered: March 12, 2004
I'll give you links to my 3 favorite PF blogs right now and realize that they have the focus I mentioned above. More importantly, they all have blogrolls that will lead you in any number of directions in the blog world.
