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10 Financial Hacks for a Funeral

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Funerals can be one of the largest expenses in life, costing as much as $10,000 for just the casket and thousands more if you have a viewing and burial. Considering that the Social Security Death Benefit is only $255 (and not everyone has access to that assistance), it’s no surprise that many struggle to afford even an average funeral. Fortunately, there are ways to help lower the cost of a funeral, including some funeral alternatives that may meet your needs.

1. Consider Cremation with a Service

If you want to have a viewing, but are also open to cremation, then you do have lower cost options. Typically, you can rent a casket from the funeral home for the visitation and funeral service, and have the cremation using a standard, unfinished wooden box.

This can bring the total cost down to between $2,000 and $4,000, depending on your location and the services you select.

2. Explore Direct Cremation As One of Many Funeral Alternatives

If you don’t need to have a formal ceremony and viewing, then a direct cremation can be a suitable funeral alternative. Typically, this is the least expensive option available, potentially costing as little as $1,000.

While a funeral home may attempt to sell you a casket for a direct cremation, you don’t have to buy one. Instead, you can use the base container in the package, such as an unfinished wood box, or container made from cardboard, canvas or pressboard.

3. Shop Around Before Selecting a Funeral Home

Each funeral home sets their own prices, so you may be able to find a better deal by shopping around. Contact local funeral homes and request a general price list as well as package prices. Then, compare what they have to offer and choose one that meets your needs.

As you explore your options, take time to look at any reviews you can find. At times, using a particular funeral home may come with lackluster customer service, so you do need to consider that before making a decision.

4. Examine Direct Burial Options

A direct burial is usually the least expensive service through a funeral home. It does not include embalming or visitation, but can be coupled with a graveside service for an additional fee.

However, you may not have much time to plan for a direct burial. Since there is no embalming, you are working against the clock, so you may need to explore this option in advance.

5. Select an Economical Casket

Since a casket can be a significant portion of the total cost for a funeral, finding an economical option can help lower your cost. High-end materials and certain features come at a premium, but they aren’t typically necessary.

For example, a gasketed casket is often an upsell. It includes a rubber gasket that is meant to seal the casket against the elements. However, that feature isn’t necessary and doesn’t actually preserve the body; it only slows natural decomposition.

Plus, you don’t have to purchase a casket from a funeral home, even if you intend to use their other services. This means you might be able to save by exploring alternative sellers. For example, Costco and Amazon sell affordable caskets.

If you order online, make sure you are mindful of the shipping times. Caskets are large items, so they typically take more than a couple of days to arrive.

6. Donate the Body to Science

Another funeral alternative involves donating the body to science. If you select this route, a burial or cremation becomes unnecessary. Instead, the body assists with scientific advancement, education, or medical research.

It’s important to note that, once a body is donated, the family does not have much say in how the organization uses it. However, if the body goes to a medical school, most students are taught to treat it with respect. If this route seems right to you and your family, then you can contact medical schools to learn more about their programs. In some cases, schools will include a free cremation in exchange for the donation, allowing you to receive the remains in the end.

7. Hold the Funeral at an Economical Location

Choosing to host the visitation or funeral somewhere other than a funeral home can be a cost-effective approach. For example, holding the service at a family member’s home can be one of the least expensive options.

Alternatively, having the service at a church, synagogue, mosque, or temple may also cost less. However, each location controls their own schedule and pricing, so you’ll need to contact them directly to see if they can accommodate the service and to find out about the expense.

8. Forgo the Flowers

While flowers may be pretty, they aren’t always cheap. By skipping high-priced floral arrangements, you can keep your costs down.

If you simply must have flowers, consider going with fewer arrangements instead of a standard package. You could even gather wildflowers before the service or, if you are comfortable with flower arranging, buy cheap blooms from stores like Walmart and put them together yourself.

9. Take It Online

In some cases, simply getting everyone to the funeral can be costly. Plus, if you are assisting out-of-town family members with accommodations, the total cost can skyrocket.

If you have family members who want to witness the ceremony but are open to viewing it online, consider setting up a private live stream. This would allow everyone to virtually pay their respects, making it an affordable alternative to attending.

It is important to understand that not everyone will consider viewing the funeral online as being enough, so this isn’t necessarily an option you should force. But, it’s worth keeping on the table.

10. Comparison Shop for Markers

If you need a marker, it’s also wise to comparison shop before making a purchase. Again, there are multiple companies that can create markers, monuments, or headstones, so don’t feel like you don’t have a choice.

However, before you buy one, check with the cemetery to see if they have any policies, guidelines, or restrictions. There may be size limits or other standards you have to adhere to, so you want to make sure that you can meet them before you make a purchase.

Ultimately, by using the tips above, you can reduce the cost of a funeral or select a less expensive funeral alternative.

Know of another way to save on final expenses? Tell us about your funeral alternatives in the comments below.

Looking for more helpful hacks? Check these out:

Best Bargain Shopping for the End of Summer

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While summer doesn’t officially end until September 22, 2018, Labor Day is often considered the last unofficial day of the season. Many retailers hold their final summer sale around Labor Day, giving them an opportunity to offload summer-related items before the end of the season.

Specific product categories usually go on sale at the end of summer. This means savvy shoppers can find great summer sale bargains on a range of household goods, clothing, and even back-to-school items.

Understanding which categories are typically part of the last summer sale of the year can help you save big at the checkout counter, even when you shop online. If you are ready to scoop up a bargain, here are some items that usually go on sale this time of year.

Mattresses

Mattress sales often coincide with major holidays, and Labor Day is no exception. Large chain retailers typically make multiple mattress brands and styles available at discount prices as part of their last summer sale. This includes mattress-specific chains as well as department stores that sell mattresses.

Additionally, online-only stores like Overstock also reduce prices on mattresses this time of year. This increases the amount of competition, so the discounts can be very large. In some cases, you may find discounts at or above 50 percent, so keep your eyes open if you need a new mattress.

Outdoor Furniture and Grills

Most people purchase patio furniture and grills near the end of spring and beginning of summer. Since the barbecue season is coming to a close, retailers want to get these items out of their inventory as quickly as possible.

Summer sales often include discounts on outdoor furniture, grills, and even gardening tools. Swing sets and outdoor play equipment also have lower prices. If you need to replace any of these goods or want to prepare for next summer, buying these items now can help you save big.

Household Appliances

Another category that typically goes on sale near Labor Day is major appliances. This includes items like refrigerators, ovens, and even washers and dryers.

Stores like Best Buy, Lowe’s, Sears, and Home Depot commonly have substantial appliance sales near the end of summer. Discounts can reach 30 percent off or higher, and you may even get free delivery and removal of your old appliance.

Cars, Trucks, and SUVs

End of summer sales are also common at auto dealerships. Usually, the new model year hits car dealer lots in the fall, so they want to get rid of any older models before the new ones arrive.

For example, the 2019 cars, trucks, and SUVs will start becoming available at dealerships in the fall of 2018. This means you may find great deals on new 2018 and even remaining new 2017 vehicles as part of a summer sale.

If you really want to score a deal, also shop for a new car at the end of the month and later in the day. Usually, salespeople are working to meet their monthly sales quotas as the month closes and may be more willing to reduce a vehicles price near the end of the day so that they can finish up the deal and head home.

Televisions

While the biggest TV sales usually happen in November, some retailers begin making room for the new model year as early as September. This means you can find discounted televisions as electronics retailers and department stores, making it a decent time to shop for a TV.

However, if you want to score a real bargain, you may need to wait until October or November. Just keep in mind that Black Friday competition can be fierce for electronics, so you can always take advantage of sale prices now if you want to avoid the hassle.

Warm Weather Clothing and Shoes

Since cooler weather is on the horizon, you can find great discounts on summer attire. Stores are working to clear summer clothing and shoes out of the inventory, ensuring they have room for fall items.

Tank tops, shorts, summer t-shirts, sandals, bathing suits, and similar items might be available as either part of a summer sale or on clearance racks. Either way, you can purchase a number of items at great prices.

If you want to make the most of these bargains, look for shirts that can be layered under fall jackets, cardigans, or flannels. Then, you can keep using these pieces even when the weather begins to turn.

Additionally, you can always buy shoes and clothing for next summer, letting you save money now while building a great summer 2019 wardrobe. Just make sure, if you are shopping for your children, that you consider buying larger sizes than they need today. That way, if they have a growth spirt, everything will still fit.

Office and Back-to-School Supplies

Since school is either in session or will be soon, many retailers are starting to put office and back-to-school items on sale at the end of summer. This can include anything from pens and pencils to computers and printers, so keep your eyes open for bargains.

It is important to note that office and back-to-school supplies might not be at their cheapest yet, as they might not go on clearance until early fall. However, there could still be great deals to be had, and you’ll have a better selection than if you wait.

Wine

One category that typically goes on sale at the end of summer that may surprise you is wine. Often, wine retailers are preparing for the new harvest to come in, so they may discount select wines to make room.

Check at your local retailers, liquor stores, and even wineries to see if they are holding a sale. Discounts can vary, and not everyone offers one, but you may be able to save 20 percent or more on your favorite wines.

Exterior Paint

Most people complete outside painting projects during the summer. As temperatures cool, many exteriors paints go on sale, allowing you to save big if you need to repaint your house, fence, or outdoor furniture.

Home improvement stores, paint retailers, and even department stores like Walmart may have a summer sale on paint, so consider shopping around if you really want to find a bargain.

iPhones

Usually, the announcement of the newest iteration of the iPhone comes out in the early fall. This means you can get the current model for less near the end of summer because cell phone retailers are preparing for the new model.

Once a new iPhone model goes on sale, the previous version is always discounted since it is no longer the latest and greatest option. As long as you are okay with being a model year behind, you can save big by purchasing the device after the announcement.

Ultimately, end of summer sales are a great time to find bargains in all of the categories above. If you want to save big, start keeping your eyes open for sale flyers, particularly as Labor Day approaches.

Do you know about any other great summer sales? If so, let us know in the comments below.

Looking for more great articles about shopping bargains? Check out these articles:

If you enjoy reading our blog posts and would like to try your hand at blogging, we have good news for you; you can do exactly that on Saving Advice. Just click here to get started.

National Park Day is Coming – What Freebies are Available?

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There are over 400 national parks spread across the US. A few times a year, the National Park Service waves the traditional entry fees, allowing visitors to enjoy these wonderful locations at no cost.

September’s national park day coincides with National Public Lands Day, an annual event that falls on the fourth Saturday of September each year. In 2018, National Public Lands Day falls on September 22.

Plus, 2018 is a special year, making it a great time to head to the park. Not only is it the 25th anniversary of National Public Lands Day, but it’s also the National Wild & Scenic Rivers System and National Trails System 50th anniversary year.

The History of National Public Lands Day

Originally established in 1994, National Public Lands Day is a celebration of the connection between magnificent green spaces and their communities. It’s filled with volunteer opportunities, leading it to become the largest single-day volunteer effort in the nation.

Each year has a different focus. For 2018, volunteer work will concentrate on resilience and restoration of public lands, including national parks.

The National Environmental Education Foundation coordinates the volunteer effort in cooperation and partnership with other agencies, including:

  • National Park Service
  • US Forest Service
  • Department of Agriculture
  • Bureau of Land Management
  • Department of the Army
  • US Army Corps of Engineers
  • Department of the Interior
  • Bureau of Reclamation
  • US Fish and Wildlife Service

Specific events are held on and around National Public Lands Day, creating opportunities to either volunteer or enjoy some family fun.

Free Entrance on National Park Day

The biggest freebie on National Park Day is the ability to enter national parks that usually charge an entrance fee for free. Fee-free days help everyone enjoy what the areas have to offer, making a trip to a national park more affordable.

It’s important to note that not every location participates in the program. Parks that are part of the National Park Service will be free, but destinations operated by other entities may still charge for entrance. Additionally, some parks are always free, so the fee-free day doesn’t provide an additional benefit.

Further, the freebie only applies to the usual entrance charge. Other activities and amenities, such as boat launches, camping sites, and tours, may still come with a cost.

Free Volunteer Opportunities and Voucher

National Public Lands Day is the biggest volunteering days in the country. You can take part in a volunteering initiative and even receive no-cost training at some locations to ensure you are ready to participate. For example, Stones River National Battlefield is training volunteers on the removal of invasive plant species ahead of and on National Park Day.

Many sites are also hosting trail and river clean-up events, allowing volunteers to do their part to keep the parks in tip-top shape. What training and volunteer opportunities are available varies by location, so you’ll need to check for events at your chosen destination.

Everyone who participates in a volunteering event will also get a voucher for a fee-free day that they can use in the future. This allows them to make a difference at the park and then return to enjoy a recreational day without having to pay an entrance fee.

In some parks, there may even be a volunteer-only camping area, allowing you to stay at the park overnight on the Friday before National Park Day. By volunteering, you may be able to camp at one of these locations, including with children, for no-cost. However, this isn’t available at every destination.

Free Family Fun Events

Some parks are even hosting family fun days. For instance, Thomas Edison National Historical Park will have a variety of special family-friendly activities for four hours on National Public Lands Day at Glenmont. There will be obstacle races, watercolor painting, Victorian board games, a paper airplane building contest, and more.

Not every location hosts family fun events. However, being able to enter the park for free is fun in its own right. You can take a hike, have a picnic, and explore a variety of sites throughout the area.

What About State Parks?

Many state parks also recognize National Public Lands Day. But, they aren’t guaranteed to have free entry.

However, many locations coordinate volunteer activities where participants do get freebies. For example, they may provide snacks, drinks, or even a free lunch to those who lend a hand.

If you want to head to a state park on National Public Lands Day, make sure to check out the location’s website. They may have information about free events and volunteering opportunities on their site, letting you plan your trip more effectively.

Are There Any Other National Park Days in 2018?

After National Public Lands Day, there is one other free entrance day in 2018. It is scheduled for Sunday, November 11, in recognition of Veterans Day.

However, the National Park Service tends to offer four chances to go to the park for free each year. While the dates for 2019 aren’t officially set, the first in 2019 will likely coincide with Martin Luther King, Jr.’s birthday in January.

After that, there will be a day in April that aligns with the first day of National Park Week. The next will be on National Public Lands Day in 2019, falling on September 28, 2019. Lastly, there will be another fee-free day on Veterans Day in November.

What If You Want to Go to the Park on Another Day?

If you can’t head to a national park for National Public Lands Day, you can always go on any other day the park is open. If you have an annual pass, which costs up to $80, you can visit any participating park for no additional cost while your pass is valid.

Shorter passes are also available, though the cost can vary by location and how you enter. Typically, walk-ins and bike-ins are around $15 per person. Vehicle entrance fees are generally $25 to $30 per car and motorcycles are usually about $20 to $25.

If you intend to go to a National Park on a day that has an entrance fee, it is wise to review the prices in advance. This ensures you are able to cover the cost when you arrive.

Do you volunteer on National Park Day? Tell us about your experience in the comments below.

Looking for more great articles about the National Parks? Give these a try:

If you enjoy reading our blog posts and would like to try your hand at blogging, we have good news for you; you can do exactly that on Saving Advice. Just click here to get started.

Stores with the Best Deals for Back to School Clothing

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There are approximately 50.7 million public school students in the US. There are an additional 5.2 million private school students across the country too.

In July, back to school spending reached $82.8 billion, and many families have yet to finish all of their shopping. They are still on the hunt for great back to school clothing deals, looking to finish up before class is back in session.

Luckily, there are still deals to be hand. In fact, you can find clothing discounts as late as October. Since the back to school rush usually ends in late August or early September, many retailers off-load anything that remains in early fall.

Whether you need to finish up now or are willing to wait until October, it pays to shop in the right places. For back to school clothing deals, here are a few stores you shouldn’t ignore.

Thrift Stores and Consignment Shops

When it comes to finding back to school clothing deals, it’s hard to beat thrift stores and consignment shops. Younger children tend to outgrow their clothes quickly, so parents often donate pieces their child can no longer wear. This means you can find items in good repair at discount prices.

If you want to get the most bang for your buck, consider heading to stores in affluent neighborhoods. People tend to donate to local shops, so you may find higher quality items by taking a trip to the right area. Just bear in mind that consignment shops tend to be more expensive than genuine thrift stores, but that doesn’t mean there aren’t deals to be had.

Additionally, don’t overlook online options that follow similar principles. You may find great back to school clothing deals on eBay, thredUp, Swap, and other sites. Just make sure to read the descriptions carefully and pour over the pictures. Since you can’t physically handle these items in advance, you need to make sure you are actually getting an item in good repair.

Walmart

A leader in the discount department store space, Walmart is an excellent option for back to school clothing deals. Not only are their base prices reasonable, but sales are also common.

Plus, you may find great items on clearance from the last season that can help you build a wardrobe for less. For example, t-shirts and tanks may be cheaper in the fall. But, if you layer them under a flannel, hoodie, or cardigan, they work for autumn, winter, and spring.

Walmart typically has a sale around the Labor Day holiday. Since this is usually near the beginning of the school year, discounts can be plentiful. If you want to have an efficient trip, check the sale flyer before you head to the store. That way you know exactly what items you want to target.

Old Navy

A great place for back to school basics, Old Navy typically has an excellent sale before kids head back to class. Plus, their base prices are generally very reasonable, so even items that aren’t on sale can be affordable.

Old Navy also has school uniform pieces available in-store and online. They cover the majority of the colors schools use, so you should be able to find back to school items with relative ease.

At times, these items go on sale as well, but their regular prices are also incredibly reasonable.

Amazon For Back To School Clothing Deals

When it comes to back to school clothing deals, Amazon should be on your list. While pricing on individual items can vary, the retailer has such as large selection, finding pieces at discount prices is always possible.

Plus, they do have a back to school sale every year that includes children’s clothes. If you are a Prime member, you may also have access to free shipping, making it a convenient option.

Additionally, Amazon’s returns policy is usually fairly generous for items shipped by the online retail giant. That means, if you accidentally get the wrong size, you can return or exchange it with relative ease. However, third-party sellers aren’t always as easy to work with, so exercise caution and read the seller reviews before you purchase items that aren’t sold directly by Amazon.

Ross Dress for Less, TJMaxx, and Marshalls

These discount retailers usually focus on overstocks and off-season items. However, you can find great back to school clothing deals if you are willing to hunt through the racks. Plus, like most retailers, Labor Day and back to school sales can happen at these stores too.

Before you go shopping, contact the store to see which day they typically stock new items. Then, try to make a trip on that particular day, so you get the best selection of sizes.

Additionally, don’t forget to check the clearance racks. While their usual prices are typically affordable, the clearance items can be downright steals. This can be ideal for base layers, like t-shirt and tank tops, that may be going out of season now that summer is drawing to a close.

Hold a Clothing Swap

While not technically a back to school shopping option, hosting a clothing swap gives you and other parents a chance to exchange items their kids no longer need.

Have everyone bring their items and divide everything by size on-site. Then, let everyone look through what’s available in their children’s sizes. You can even get the kids involved by allowing them to pick out some clothes. Since everything is free, there really isn’t any harm in doing so.

Once the swap is over, the remaining items are boxed and ready for donating. Ultimately, it’s a simple solution for cleaning out closets and finding new clothes all rolled into one.

Ultimately, all of the options above can help you save big thanks to their back to school clothing deals. You may need to dig through some racks and embrace the clearance aisles to find the biggest discounts, but it can be worth the effort if you genuinely need to reduce your clothing costs.

If you still need to finish up your shopping, give these stores a try, especially over the Labor Day holiday when discounts are plentiful. But, if you can’t shop right now, keep an eye on sale and clearance racks in late September and early October. You may find just the bargains you need to keep your budget under control.

If you enjoy reading our blog posts and would like to try your hand at blogging, we have good news for you; you can do exactly that on Saving Advice. Just click here to get started.

5 Unique Ways to Have a Low-Cost Wedding

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In the US, over 2 million people get married every year. The average cost for each event is $33,391, though some people spend much more than that.

Plus, the couple is often chipping in more for the wedding and reception, averaging 41 percent of the total cost. The bride’s family usually pays the most, coming in at 45 percent, and the groom’s family adds 13 percent.

If the idea of covering all or a portion of a $33,000 wedding leaves you shuddering, then looking for low-cost options is wise. It is possible to significantly lower your expenses without having to sacrifice style and personality, as long as you can keep a creative mindset while you plan.

1. Select a Unique Venue

When people think of weddings, certain locations come to mind. Churches, hotels, and similar venues can be incredibly popular, but may not be the most economical option. But, you may be able to find a magnificent alternative if you keep an open mind.

What you need to do is consider every beautiful location you’ve seen in your target city. Is the library amazing? What about a local theater or college campus? Do you have a favorite spot at a nearby park? Is there an aquarium with a great display or a zoo with amazing landscaping? Would you enjoy renting a yacht for a wedding on the water?

All of these non-traditional venues can be incredibly gorgeous while also remaining affordable. If people don’t usually use the space for weddings, you likely won’t face much competition for your preferred date. Plus, if the location doesn’t tend to field requests for holding any kind of event, the cost may be lower since it isn’t part of their usual business model.

2. Schedule Your Wedding Near a Religious Holiday

If you are planning to have a church wedding, you can save on décor by scheduling your event near a religious holiday. Most churches decorate for specific occasions, such as Christmas and Easter, and may already have flowers and other embellishments on-site.

This allows you to have a wedding filled with beautiful bouquets, candles, and similar items without actually having to buy them.

Just make sure that your guests are aware that the décor isn’t yours. In some cases, wedding guests will seek to take centerpieces and similar displays home, but this likely won’t be an option under these circumstances.

Alternatively, you can look for a church that is ornate or naturally beautiful, as the architecture may make décor unnecessary. This would give you more flexibility in regards to choosing a date.

3. Shop for Used Wedding Décor

Many brides and grooms invest a significant amount of money in wedding décor. But, after the big day, they don’t have a need for all of these items.

Consider checking websites like eBay or Craigslist for gently used décor pieces. You can also explore thrift stores, as some people may donate these items to make space in their home. Garage sales can also be a great resource, though you may have to hunt around to find something usable.

By taking this approach, you may find unexpected items that work with your theme. Additionally, you may discover décor for sale at discount prices for brands you may otherwise not be able to afford.

4. Take a Trip to the Dollar Store

You can find a lot of potential décor at dollar stores. Candles, glass bowls, balloons, and many other items can be found at these retailers, giving you the ability to add some elements to your design.

Don’t forget to check every aisle along the way, as you may find some non-traditional items that would work well. For example, metallic wire baskets can be a fun in a variety of designs, ranging from formal to country. Small metal buckets, wooden letters, and glass bottles can also be interesting editions.

As you walk along, keep your color scheme in mind. Then, examine every item that matches your colors to see if it could be used in an unexpected way to be a part of your décor.

It is important to note that not every item is cheaper at dollar stores. If you find something you like, consider doing a quick online search at retailers like Amazon and Walmart to make sure it is a good price. Then, if it is actually a deal, go ahead and make a purchase. If not, then pick the item up elsewhere.

5. Hire a Food Truck, Not a Caterer

If you want your wedding to have a cool element, consider hiring a food truck in lieu of a caterer. This can be a fun way to have freshly made food available that features a unique flavor.

Additionally, if you are having an outdoor wedding that isn’t near a kitchen, you don’t have to worry about setting one up or the food getting cold in transport. As long as the truck has a safe and legal place to park, that’s all you need.

However, if you are planning to have your reception in a public place, such as a beach, hiring a food truck can be complicated. Other visitors (who are not wedding guests) may try to buy food, and they’ll be disappointed if they’re told no. They may even claim to be part of your wedding to land a free meal, and that could lead to inventory shortages for your guests.

If you go the food truck route, make sure your venue is reasonably private.

All five of the tips above can help you have a low-cost wedding without having to sacrifice style or fun. You can try one or all of the suggestions, ensuring your event is one to remember while allowing you to keep some cash in your pocket.

Do you have a low-cost wedding idea? Tell us about it in the comments below.

Looking for more great wedding articles? Give these a try:

If you enjoy reading our blog posts and would like to try your hand at blogging, we have good news for you; you can do exactly that on Saving Advice. Just click here to get started.

What Women Can Do To Improve Their Finances Now

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Although women have made strides in terms of equality in their professional lives, we still have a thing or two to learn when it comes to our finances. Even though women tend to live longer, on average, we don’t retire with as much cash stashed in the bank as men. So, what’s up with women and finances?

Women and Finances

According to a survey conducted by Ellevest, women don’t invest as much, as often, or as early as their male counterparts. The survey delved into why.

Ellevest’s survey took information from 1,034 women, all of whom had personal income levels of $50,000 or more. The women involved in the survey also played an active role in managing their personal or household finances.

However, less than half of the women surveyed felt satisfied with their current financial knowledge. Of those seeking the help of a financial advisor, only 17% were satisfied with the advice they were receiving. In fact, a majority of the women surveyed were unsatisfied with their financial lives entirely.

Only 36% reported being content with their net worth. Thirty-seven percent are satisfied with their current investment portfolio, and a mere 40% are happy with their retirement savings.

Despite not being content with their current financial situation, women seem to set very clear goals for themselves and their finances. Of those surveyed, 66% have a retirement savings goal; 59% have a goal to save money for travel; 40% have the goal of being debt-free.

Those are amazing goals to set for yourself but few women feel they have the tools necessary to get the job done. Only 47% of women surveyed said they know how to achieve their financial goals though.

For women over the age of 50, this can become increasingly concerning. Because women typically outlive their husbands, they will likely have to manage their finances at some point in their lives. So, how can women take control of their finances?

What Women Can Do to Improve Their Finances

Taking a more active role in finance can increase confidence and lead women to gain clarity and control in all aspects of their lives. Ellevest’s survey found that 67% of women felt more confident after putting money away into savings to reach financial goals.

Outside of saving money, there are a number of things women can do to take control of their finances. Here are a few ways to change your financial future as a woman.

  1. Prioritize your spending. Women often feel guilty if they aren’t able to provide for people they care about. Struggling with this guilt can lead them to spend money on a new toy their child probably didn’t need instead of saving or investing in your child’s future. Consider the pros and cons of each purchase because making it and prioritize what you spend money on.
  2. Educate yourself. There are a number of personal finance books and seminars that you can access for little-to-no money. You can also inquire about getting financial advice from work. If your employer has a 401K plan, for instance, you should be able to talk to someone in Human Resources about maxing out your contribution. Many banks also offer free information about financial planning, investing, and other personal finance-related topics. Take advantage of the free educational materials available to you.
  3. Be flexible and don’t insist on perfection. If you are taking a DIY approach to your finances, remember you cannot expect perfection all the time. Learn to adjust to your new way of viewing your money.
  4. Set goals and visualize your future self. For women, tracking seems to be a vital part of staying on budget and in control of their finances. Tracking your day-to-day expenses will help you stay on route to reaching your goals and, eventually, reach financial freedom (isn’t that everyone’s dream?).
  5. Talk about it with your friends. It is time for women to be savvy about finance and have educated conversations about it daily. Otherwise, the relationship between women and finances won’t ever mend itself.

All it takes is one change to start bettering your financial future. What is stopping you from taking the steps above and inching closer to a better you?

Readers, what do you think about the relationship between women and finances? 

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