What are you investing in?

And I mean this literally. Not spiritually or emotionally. Where are you investing your money?

 

Image result for savings

[source: goodcall.com]

As women, we aren’t really encouraged to save, invest or think of our future as much as men are. I am making a broad statement here, of course, but hear me out a little. If you are a woman reading this, chances are you were never really encouraged to save for retirement, our children’s education, our education, until it’s almost too late. I was lucky enough to learn very early how bad credit cards are. In fact, my first boyfriend got a store credit card and within 3 months, he maxed it out and owed $1,500. To a STORE. At 17, $1,500 is a lot of money to pay off. It is a lot of money now, but especially at the innocent age of 17. When I saw the level of stress he was under getting the monthly statement, how quickly his part time paycheck would disappear, I vowed to never ever ever get into credit card debt.

I got a credit card at the age of 20 and it was a Shaw’s Jeweler card. I think my limit was $200 and I bought an $80 bracelet. It took me a few pay checks to clear that $80 but it got me started on establishing credit and then I opened a Capital One card. My limit again was pretty low, but I never ever maxed it out. In fact, I considered my “credit card limit” to be half of what the card company said. So if it was $300, my limit was $150.

Being smart with credit cards is something that is not talked about enough to young people. It seems so many people get in over their heads, swiping their cards without really understanding what damage they are doing; not just to their credit but to their future and their daily sanity. The habit of spend, spend, spend is what we learn. The concept of investing is more about investing in “good skin care,” “a high quality purse or coat,” or “a holy grail foundation.”

I am again making a grand statement and of course this is a stereotype, but when you turn on the TV, women are being told to invest in things that depreciate and do not have long term positive impact on our lives and the lives of our future generations. Good skin is great, but what is the ROI?

Not much…

I’m beginning to research investing and was inspired by SugarMamma.tv to get serious about my financial future. I also like Rachel Cruze. I inspire you to do the same : both men and women!

Some videos to consider:

 

 

 

 

 

 

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