Sometimes you can find personal finance tools in the most unlikely places. The University of Illinois Extension Service offers a collection of consumer money resources, including tips for thrifty living, credit card smarts fact sheets, and a guide to consumer and family economics.
I was most impressed with A Working Woman’s Guide to Financial Security.
This series of planning guides has been designed to help women of all ages develop skills they need in order to handle their financial affairs successfully, now and in the future. Their mothers probably taught them how to shop, pay bills, and balance the checkbook, but most women didn’t learn money management skills from their mothers or their peers. They may be learning the expensive way, from the school of hard knocks, which can be a very harsh teacher!
The information here is divided into three broad sections:
Each section contains a series of articles, such as “What is your financial IQ?”, “How to save money and where to put it”, and “Basic investment options”. These articles contain sound, practical financial advice specifically geared toward the needs of women. But as with most resources of this nature, there’s plenty of information that’s non-gender specific, so don’t be frightened off, fellas.
This guide is excellent — I recommend it.
[University of Illinois Extension: A Working Woman's Guide to Financial Security]
This article is about Basics, Money Hacks, Tools Tuesday, 26th June 2007 (by J.D. Roth)


RSS Feeds
Facebook
GRS Twitter





June 26th, 2007 at 2:56 pm
Hmm I’ll have to check this out!
June 26th, 2007 at 3:12 pm
As a woman, I have to say this guide is sorely lacking. I didn’t see anything about safeguarding against the things that put women in financial peril:
- how to maintain your skills and remain employable after taking time out to raise a family
- how to balance your interests with the need to have a career that will allow you to fend for yourself if your partner leaves/dies
- how to make sure your partner contributes to your retirement savings, if you’re working at a lower paid profession to provide more time for family and household
- how to return to the workforce after taking time out to care for elderly parents
- and so on
Women often make choices that affect their workforce participation and earning rates. This is not to say that they shouldn’t. But women will be better served by awareness of those decisions and plans for mitigating the impact.
June 26th, 2007 at 3:44 pm
I took the financial literacy IQ test.
Depending on how I interpret the questions about credit, I’m either doing incredible or the next results option. I don’t have credit cards. If I did, my answer to each would be yes. But I think my Financial IQ is much higher than this test would indicate because I know how stupid using credit is.
June 26th, 2007 at 3:47 pm
The irony is that, if the thrift service were thrifty, it would not design, print, stock, and sell flyers.
Respectfully flyerless,
J
June 26th, 2007 at 3:57 pm
J.D, I don’t know if you’ve covered this already, but two great personal finance books with women in mind are:
1. Smart Women Finish Rich
2. Smart Couples Finish Rich
Both are by David Bach and are catered to both Canadian and US audiences.
FT
June 26th, 2007 at 5:28 pm
Sounds like a very interesting subject for us women to delve into. I will definately check it out. Thank you for writing on this subject for women.
June 26th, 2007 at 8:18 pm
With two daughters in their twenties, all of this is great.
June 27th, 2007 at 6:42 am
Hear hear, Andrea. Wonder if Ramit will address those issues you mention in his new “Finance for Women” series?
June 28th, 2007 at 9:45 am
I third Andrea’s comments.
I hate it when financial guides sell themselves as being specially written for women - but appear to be nothing more than rather remedial versions of standard financial advice (”Do you have a savings account in your name?”). The only thing worse is when on top of this, they try to add in extra sections on cooking, shopping, and beauty products… and skimp on asset allocation and career development to do it.
Andrea’s list of what would be more appropriate for such a package is excellent.
July 1st, 2007 at 1:35 pm
[...] A Working Woman’s Guide to Financial Security at Get Rich Slowly [...]