Money Mistake # 3: The need to know all the right answers.
“Women like to know they have the right answers before they proceed in just about any situation,” says Chatzky. “In most situations that works really well for us, but in the world of investing, it’s pretty impossible to know you have the right answer.” If you really want to be wealthy, put your money to work for you as much as you’re working for yourself—that’s what investing is all about. Unfortunately, women become so overwhelmed with the idea of being the best investor, we don’t even get in the game. You have to accept that you are not going to win every time in investing and focus on being a consistent investor, insists Chatzky. Study the market trends just like you do fashion trends and stay in the game. If you don’t, you’ll guarantee not winning at all.
Money Mistake #4: Holding on to the idea of fairy tale endings.
Women are given mixed messages about money, Dr. Frankel explains. We are told to save and plan for the future, but always in conjunction with someone else that will ultimately “take care of you.” As our friends at Wife.org would say, “A man is not a financial plan.” Don’t wait for Prince Charming to carry you over the threshold. The desire of financial success must be accompanied by hard work or else you’ll be stuck waiting. And who likes to wait, especially when it comes to money?
<< Previous  | Page |
| |
| |
3 | | |
 Next >> |
|
COMMENT ON ARTICLE |
FORWARD |
|
|
POST THIS ARTICLE ON:
|
||
| fiona | |
| It's hard to save money these days, with loans, credit card debts and all. Yet it's so important to save at least a little bit every month (a little goes a long way, as the trite saying goes.) I had to buy a new car when my good-condition car suddenly broke down recently. You just never know what's going to happen. | |
| axcar | |
| You are on the money! The more we save at an earlier age the easier life will be. Unfortunately, most of us don't save as much as we should when were young and then after kids it's nearly impossible. Start saving girls! | |
| sheila-takeabow | |
| I'm really bad in saving money, so this article help me out in sorting my financial troubles. I'm working on growing my "F@ck YOU" fund.. haha. I love that term. | |
| Carolanne -- Los Angeles | |
| Great article! It's often not taking action when it comes to our money that leads us to feel trapped. We don't set aside money or we have the false sense of security that someone else will provide for us in the long run. | |