Women’s Month: Three Ways You Can Improve Your Money Health
More and more people are becoming aware of the importance of financial wellbeing. Just like it’s necessary to look after your physical health, it is critical to be proactive about taking care of your financial health as well.
In Women’s Month, it’s worth considering why this is a particularly important topic for women. Often, they find it harder to take care of their financial wellbeing because of the different demands on their money and their time.
In this article we look at what makes financial wellbeing for women so important and examine three ways they can move towards a healthier relationship with their money.
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A Simple “50-15-5” Budget Hack for Women (and Men!)
Many people find budgeting a turn-off. They don’t want to keep track of every rand they spend. They find it limiting, and an administrative hassle.
For those women who already shoulder most of the responsibility for running a household, this can be particularly true. They don’t want to add anything extra to the long list of things they already need to take care of.
Having a simple approach to running a ‘spending plan’ rather than a strict budget can therefore be quite liberating for many people. Read on to discover a simple approach to getting this right.
Retirement Planning for Age-Gap Couples
In many marriages one spouse is older than the other. Depending on the size of the gap this can become a significant factor in retirement planning.
When planning for retirement, we recommend assuming that both spouses will live to 100. This may seem a tad ambitious – but people are living longer than ever, and it’s far better to err on the side of caution.
This article will explain why retiring at different ages can be both good and bad for a couple. And it’ll make choosing between a living annuity and a life annuity much easier for you and your partner.