Girls Just Wanna Have Funds Women's Personal Finance Blog

Buying a life insurance policy is no fun.  Not only are you adding another expense to the monthly budget, you’re also forced to discuss things you’d rather not think about.  No one wants to contemplate the death of their spouse or their self, but life insurance is a must.  We’ve all learned in various situations that “it’s better to have it and not need it than it is to need it and not have it”; this is most critically true when it comes to life insurance.  But how much is enough?  Further, how much is too much? Basic Formula Careers ... Read More »

I used to carry around my monthly budget with me everywhere I went:  a page printed for every month, hole-punched and bound in a blue folder.  While it was the source of teasing by co-workers and friends, my husband claims its part of what made him fall in love with me.  (Just your everyday “Type A” meets “Type A” love story…)  Compared to the many electronic personal budgeting tools available today, my “blue folder” budgeting system was rather archaic.  Nevertheless, it was effective because it employed the most basic components of the paycheck life cycle.  It boils down to this: ... Read More »

For a small business owner it can be tough to keep your business and personal finances separate because, well, you are your business!  You live it and breathe it; and chances are, you have a passion for your business that most of your W-2 earning friends don’t have for their own jobs.  Keeping your business expenses separate is particularly challenging when your business is new.  It may even feel a little silly when you’re not even sure if this thing will even take off.   However, the earlier you make this a priority, the easier you make things for yourself down ... Read More »

Credit cards can be both the angel and the devil on your shoulder; simultaneously a force of good and evil!  Further, what’s the difference between canceling a card and just cutting it up?   Depending on who you talk to, people will try to convince of all of the above.  Should you cut them up, or cancel them?   Sounds confusing, but the truth is that there are pros and cons to each option. Canceling Your Card Pros: Probably the most obvious one here is that it absolutely prohibits you from incurring further credit card debt on that card, no way ... Read More »

Uh oh.  April 15th has come and gone and you were unable to complete your tax return by everyone’s favorite deadline.  What happens now?  If the IRS owes you a refund, no biggie; there are no penalties or fees in this case (apparently they don’t wish to discourage you from delaying their payment to you!)  However, if you owe the IRS as a result of your tax return, the repercussions for being late are swift and severe. Failure to File Penalty This is the one of the harshest penalties the IRS has at their disposal.  The penalty amounts to 5% ... Read More »

Estimates indicate that the average credit card debt for an American household is around $15k (out of households that carry balances.)  Since this is an average, many households carry much more than this.  The implication of that kind of credit card debt is troubling.  Sure, it’s possible that some are just chronic shopaholics; but it’s more likely that they’re casualties of the still-recovering economy.  All too many families afflicted by layoffs have had to resort to living off of credit cards and have maxed out more than just one.  If you feel like you’re drowning in credit card debt, face ... Read More »

Everyone knows the basic human necessities:  food, clothing, shelter, and a good credit score.  Slight exaggeration aside, the fact remains that a bad credit score can be very prohibitive to your life.  Conversely, an excellent credit score gives you a lot of freedom.  Not only does it make it easy to be approved for a loan and get a great rate, but it also makes you more attractive to prospective employers; even car insurance companies check credit and factor it into their underwriting.  Whether you’re suffering from bad credit or no credit, the good news is that you hold the ... Read More »

Thomas Edison said, “There is no substitute for hard work.”   It’s so simple, but so true; and so fitting for the topic of debt reduction.  There is no magic solution or easy way out.  But while there’s no denying it’s a painful process, anyone can do it with commitment, discipline, and patience.  And if you’re going to put in that much effort, you had better make sure you do it right…which means making sure it never happens again! First, a Warning: You’ve no doubt seen the advertisements and websites out there for “Debt Consolidation” and “Debt Management” companies.  Both types ... Read More »

As we continue to wade through the aftermath of the real estate meltdown, many people feel they’ve reached the end of the rope with their property and are considering things they never thought they would, like short sales or even foreclosure.  In some cases, there are simply no other options left.  However, if you are still somewhere in the grey area, please consider the effect that such drastic measures can have on your personal credit.  What is a Short Sale? In terms of real estate, a short sale is when you sell your property for less than you owe, thereby ... Read More »

In a sense, your credit report is sort of like your resumé; a black and white document representing a history of your experience that must be provided when you attempt to apply for something.  However, unlike a résumé, where one is likely to omit any “unsavory” details, the credit report reveals it all, even the dirt. There are so many situations that call for a credit pull, and sometimes you may not even know it is happening!   Any time I’m filling out any sort of application or information sheet, if I see a spot for my social security number, my ... Read More »

It’s an exciting feeling when you and your partner finally decide that it’s time to start a family!  Or perhaps you fall into the “surprise!” category and it’s, “ready or not, here we go!”  As exciting as it is, it can be scary as well.  Tons of different emotions and thoughts go through your head, just like anytime you step into The Great Unknown.  The notion of pregnancy itself is daunting enough, but what about your career?  Will you be able to afford a baby?  Take a deep breath; the bottom line is you will make it work one way ... Read More »

Anyone who has ever googled “work from home” or “make money from home” knows that the web is overflowing with sites proclaiming you can make thousands from the comfort of your living room, most of the time requiring you to first buy a book, CD, or DVD to learn how.  Since there is so much of this garbage out there, it can be frustrating looking for legitimate ways to work from home.  Below are some reasonable ideas to consider.  None of these will make you rich, but they’re good options for putting some extra cash in your wallet. Direct Sales ... Read More »

How to Develop a Winning Business Plan Presentation The American Dream:  the idea that if you work hard enough, you can achieve your own personal success and prosperity in this country.  While some would argue that the American Dream isn’t what it used to be, people are still creating successful businesses every day.  It certainly isn’t easy though, and hard work is only a part of it.  Being a business owner also requires patience, persistence, commitment, creativity, flexibility and organization.  However, with any great risk comes the potential for great reward, both internally and financially.  Here is a basic guideline ... Read More »

Admittedly, I drive a large vehicle.  However, when I filled my tank this week for a grand total of $110 I almost fell over.  When will the madness end?!  In the meantime, most of us have no choice but to continue to drive our vehicles, so something’s gotta give when you’re maintaining a strict budget.  Luckily, there are some easy, fairly painless opportunities to make some room. Gas While we can’t do anything to change gas prices, at least we can make sure we’re not filling up at the most expensive station in town.  Before you head out for the ... Read More »

Time to stop dragging your feet and get on the ball!  But you knew that already.  I’m as guilty as any, that sometimes when there’s so much to do and remember I just put it off to think about later.  However, the margin for procrastination is dwindling so let’s knock this thing out.  Often times all you need to get in gear is to organize your thoughts, so here’s a quick reference to get you going. What You Need Personal Information: Social Security Numbers for yourself, spouse, and dependents Bank account information (for direct deposit) Income Information: Employment income – ... Read More »