And, these money saving hints are peppered with inspirational quotations from Marianne Williamson – one of my most favorite strong successful women in history!

“Our deepest fear is not that we are inadequate,” said Williamson. “Our deepest fear is that we are powerful beyond measure. It is our Light, not our Darkness, that most frightens us.”

You are a powerful woman. You can become financially independent. Don’t let your anxieties or fears hold you back – most of them are groundless! If you struggle with debt and money problems, read On My Own Two Feet: A Modern Girl’s Guide to Personal Finance.

And, here are my five hints for women and money…

5 Money Saving Hints for Women – Marianne Williamson

1. Activate two money saving hints a month. There are smart ways to save money everywhere – the internet, budget books, your rich old aunt, on placemats at funky restaurants. Don’t try to implement every money hint you find; instead pick two a month. Focus on making those two money saving tips a habit. In a month or six weeks, find two more money saving hints to work on. This way, you’re not overwhelmed with a million ways to save money – and you’re steadily progressing towards your goal of financial independence.

2. Pay twice – it teaches you how much money you can save! Here’s a great hint for women who want to be financially independent, from a blog about money from the BHM Financial Group: “Every time you buy a cup of coffee, lunch, or a newspaper, magazine, DVD or other entertainment material, put the same amount of money into an account intended for saving or bill payments,” writes Cassandra in Better Attitude, Bigger Income. “See how much money you’ve saved at the end of the month. Now you know how much money you spent (but could’ve saved) this month. This money saving hint will also show you how much those items really cost, since most of us only take home about one-half what we earn. So, buying that $5 DVD is really costing you $10, that coffee is really about $7.50, and going to the movies? Whoa . . . but, you get the picture.”

3. Turn price tags into hours worked. This is a brilliant hint for saving money for women, from the founder of Mint.com: “So you don’t really need another pair of jeans, but you eyed one that costs just $40,” says Aaron Patzer. “Inexpensive, right?  That depends on how you think of it, Patzer said. Say you earn $7 an hour at your part-time job (not uncommon for high school or college students who work after school and on the weekends). You’d need to work almost 6 hours to pay for those jeans. If you work 10 hours a week, that’s 60% of your work time. Think of it this way, and that pair of jeans doesn’t look that cheap, after all.” Make it a habit to look at the things you want in terms of how long it takes to earn them.

4. Combine money saving hints with your personality traits. Pay attention to your likes and dislikes, characteristics, and lifestyle. What’s your money personality – what are your money beliefs? Are you a saver or a spender? Do you associate with people who have good financial habits, or are you always on a spending spree with friends? To save money and get rid of the debt that holds you back, you need to “ride the horse in the direction its going” – which means not trying to change who you are. Instead, find ways to fit these money saving hints into your lifestyle and personality.

If you wonder if your personality is “good enough”, remember Marianne Williamson’s words: “We ask ourselves, who am I to be brilliant, gorgeous, talented, fabulous? Actually, who are you NOT to be? You are a child of God. Your playing small does not serve the world. There is nothing enlightening about shrinking so that other people won’t feel unsure around you.”

5. Find meaning in experiences, not stuff. “Joy is what happens to us when we allow ourselves to recognize how good things really are,” said Marianne Williamson. I don’t think she’s talking about shoes, clothes, or other material possessions! Sure, I know how fun it can be to buy new things – I’m not a shopper, but I’ve experienced that “shopper’s high.” But, I also know that spending money isn’t the only way to feel good. In fact, spending money may one of the least satisfactory ways to be happy because it requires a constant outflow of money. If you’re an emotional spender (you shop to avoid stress or sadness), then you might think about finding meaning in your life without spending money. This won’t just help you become a financially independent woman, it’ll help you get emotionally healthy!  

And, solving your money problems will help you let your light shine…

“As we let our own Light shine, we unconsciously give other people permission to do the same. As we are liberated from our own fear, our presence automatically liberates others.” ~ Marianne Williamson.

Do you wonder if you can stand on your own two feet? Read 5 Signs of a Financially Independent Woman – Suze Orman.

Related posts:

1. 8 Smart Ways Women Can Save Money – Suze Orman
2. 9 Tips for Taking Control of Your Money for Women
3. Is This a Risky Financial Investment? Money Tips for Women

“Burnout is a condition caused by unbalance: too much work or responsibility, too little time to do it,” writes Ban Breathnach in Simple Abundance: A Daybook of Comfort of Joy (one of my favorite books!). “Often we think that burnout is something that happens to other women – workaholics and perfectionists. But care-aholics are also at risk…”

If you’re a caregiver of an ill or elderly parent or loved one, you might find Always on Call: When Illness Turns Families into Caregivers both informative and inspirational. And, here’s some basic information on the cost of care providers…

How Much Will a Paid Caregiver for My Aging Parents Cost?

“My husband was diagnosed with Multiple Sclerosis at age 44 and died at home peacefully at 57,” says Lynn Longmuir, Certified Reflexologist and author of Peace of Mind: Care for the Caregiver. “He needed care 24/7 for the last three years of his life. I was his primary caregiver around the clock – I was his age and, luckily, in good health physically and mentally. But looking back, I realize the emotional toll it took. Was it worth it? Yes. I would do it again in a minute if I had to.”

Longmuir says she’s fortunate because she worked from home and was able to juggle her schedule to care for her husband herself. Plus, her friends helped out.

In contrast, Betty Garrett needed to hire a caregiver or care provider when her husband’s health deteriorated. “He was diagnosed with esophageal cancer in 2003 and lost his courageous battle a year later,” says this author of From Hiccups to Hospice: A Survival Guide for the Cancer Caregiver. “I lacked the expertise to handle his medical needs.” Garrett founded Caregivers 4 Cancer after her husband died.

If you think you’re burning out as a caregiver but aren’t sure, you might find 5 Signs of Caregiver Burnout – Barbra Streisand helpful.

The Cost of a Paid Caregiver or Care Provider

Different levels of support have different pricetags. “Simple companionship includes activities such as sitting with, talking, going to the park or museum, and sharing lunch,” says Brenda Avadian, founder of The Caregivers Voice. “This can run as low $10-$12 an hour plus expenses, and may be arranged informally with friends.” Avadian says higher levels of care, such as regular bathing and administration of medication, can cost double that or more. For information on hiring a paid caregiver, read Move Over Hired Help is Here.

The annual cost ranges widely. Wendy Johnstone, an Eldercare Planner with the Caregivers Association of BC says caregiving costs can range from $5,000 to $50,000 per year. “The Investors Group recently surveyed 500 Canadians between the ages of 43 and 63, and found that 40% of all caregivers paid an average of $6,000 per year for caregiving help,” she says. “Additionally, a recent study by BMO Financial Group found that only 7% of Boomers asked for advice on budgeting for their aging parents’ care.”

We have a caregiving crisis, she says, and it’s not on the radar screen. “It’s simmering on the back burner, when it should be on the front burner setting off the smoke alarm.”

To prepare for caregiving costs, make sure you’re taking charge of your money as soon as possible – before a financial crisis hits your home.

Tax Credits and Help for Caregiving Costs

Canadian tax credits. Johnstone lists the tax credits that may be used by caregivers: the Caregiver Tax Credit, the Disability Tax Credit, the Eligible Dependent Tax Credit, and the Medical Expenses Tax Credit. Collectively, these tax credits can amount to as much as $10,000 (though few caregivers are eligible for the full amount). She recommends talking to an accountant about possible tax deductions.

Employment Insurance Compassionate Care Benefits. These benefits are available to employed family members caring for a gravely ill relative at risk of dying within 26 weeks. “These benefits are offered through Human Resources and Social Development Canada (HRSDC),” says Johnstone. “If you are currently working full-time with employee benefits, talk to your Human Resources Department. You may be entitled to benefits that help you find the right services.” For more information, visit Employment Insurance Compassionate Care.

Veteran Affairs Canada (VAC). This service offers a diverse set of programs and services to veterans and other eligible clients. Aids to Daily Living is a program that assists clients with the purchase of prosthetic and orthotic devices, walkers, canes, wheelchairs, etc. Go to Veterans Affairs Canada to learn more.

“Financial help for care costs vary widely from province to province,” says Alex Handyside, a Certified Senior Advisor and the owner of ScotiaCare Homecare & Caregivers Inc. “For instance, Nova Scotia recently introduced a $400 per month allowance to qualified family caregivers who provide more than 20 hours per week of care to a qualified low-income care recipient.”

Johnstone adds that – unlike having a baby or preparing for a marathon – caregiving often happens with no warning, leaving families unprepared financially, physically, or emotionally.

If you have any thoughts or questions on caregiving – or the cost of care providers – please comment below…

Related posts:

1. 5 Signs of Caregiver Burnout – Barbra Streisand
2. 6 Ways to Increase Weight Loss Motivation – Martha Beck
3. 5 Money Saving Hints for Women – Marianne Williamson

“Age is more than just a number when it comes to financial planning,” say Lisa Caputo and Linda Descano – the dynamic duo behind Women & Co. “Starting early can help give you a leg up on a comfortable retirement. This is particularly important for women because we live longer than men, are more likely to require long-term care services, and take more time out of the work force to care for children and family members.  These financial realities make it even more important for us to start saving early, to save more as we earn more, and to plan carefully for those ‘time-out’ periods.”

The sooner you take charge of your money, the happier you’ll be. For information and inspiration from Suze Orman, click Women and Money: Owning the Power to Control Your Destiny. And, read on for nine tips for basic personal finance for women…

3 Tips for Taking Control of Money for Women in Their 20s

Set Financial Goals.  The first step to putting together a financial plan is to identify what you want, when you want it, and what it will take to achieve it.  Be sure to write down your goals so you have something to refer back to as you plan.

Live On a Budget.  A budget doesn’t have to be onerous and it’s a key component of a solid financial plan. Start by writing down your monthly income, track and total how much you are spending monthly, and determine your debt-repayment obligations (i.e., credit card, student loans).  After calculating your monthly expenditures, subtract that from your total monthly income.  Allocate the amount you have left over toward savings.  If you’re falling short on savings, think creatively about ways to cut spending. 

Make Saving Money Automatic.  Once you’ve determined your target savings amount, consider setting up an automatic transfer from your primary bank account to a dedicated savings account each month.  Also, do not miss an opportunity to enroll in your employer’s retirement plan, such as a 401(k) plan, and take advantage of matching contributions, if available.  Whether you have access to an employer-sponsored plan or not, consider an IRA.

If you’re raising children, you’ll find Being a Financial Role Model helpful!

3 Tips for Personal Finance for Women in Their 30s

Set Up An Emergency Fund.  Save and set aside enough cash to cover at least a minimum of three, and ideally six, months of living expenses in case of disability, unemployment or an unforeseen event.

Seek Out Financial Professionals.  Identify a team of professionals (i.e., financial advisor, accountant, attorney) that you feel comfortable working with.  Ask friends and family for referrals and interview potential advisors.  Once selected, regularly review your financial plan with your team and be sure to check in during any life transitions such as having a child, or getting married or divorced, as these events may impact your plan. 

Define Your Investment Strategy.  Work with your financial advisor to develop a target asset allocation for your portfolio.  Tell your advisor when you would like to retire and discuss your tolerance for risk so that s/he can help you allocate your portfolio accordingly.

If you’re married or living with a partner, you might find Dealing With Different Money Personalities as a Couple helpful.

3 Money Tips for Women in Their 40s

Cover Yourself With Insurance.  Personal insurance includes health, life, disability or long-term and property insurance typically includes auto and homeowner’s.  Learn about your insurance options and determine the type and amount of coverage that makes sense for you and your family.

Protect Your Legacy. Even if you if don’t have children or consider your assets significant enough, still think about executing a will, living will, power of attorney and health care proxy to outline your wishes in the event that you are unable to make decisions for yourself. 

Maximize Retirement Contributions.  With your earnings at its peak, now is the time to boost your savings.  Contribute the maximum amount to your retirement plan. If you have children and haven’t done so already, start a savings fund for their college education.  If you’ve already started a college fund, now is the time to maximize your contributions to it.

If you have any thoughts or questions on these tips for basic personal finance for women, please comment below…

Women & Co. is a financial resource program from Citi, dedicated to helping women achieve their financial goals.

Related posts:

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2. 10 Tips for Teaching Kids About Money – Women and Co
3. Money Lessons for Women in Their 50s and 60s

First, the bad news:

“Opposites may attract, but I wouldn’t put my money on a relationship of financial opposites,” says Suze Orman.

But don’t fret, my friend! Just because Orman wouldn’t bet her money on a couple with two different money personalities doesn’t mean that couple is headed for relationship breakdown or serious financial problems. (phew, what a sentence that was!)

Here are several ways to deal with different money personalities as a couple. For more info, read Financially Ever After: The Couples’ Guide to Managing Money by Jeff Opdyke.

Dealing With Different Money Personalities as a Couple – Suze Orman

The two basic money personalities are savers and spenders. If you’re a saver married to a spender – or a spender married to a saver – you’ll run into different relationship challenges than two spenders, or two savers.

Know your FICO score. “If you forced me to pick one single bit of advice that would have the biggest impact on turning around your financial situation, I wouldn’t hesitate for a second,” writes Orman in The Money Book for the Young, Fabulous, & Broke. “You have to know your FICO score.” Before you tackle your “saver versus spender” money personalities, learn about your credit score. Do you need to do some damage repair?

Separate your finances. Consider having two separate income streams and bank accounts. This way, if you’re a saver you can invest your money any way you want. If your partner is a spender, he can spend his earnings any way he wants. You can divide the household bills and other sources of debt, and pay for those equally but separately.

Learn how to talk about money objectively. Whether you’re deciding how to invest a $10,000 windfall or struggling to pay off medical debt – you need to talk about your financial problems or perks rationally. This means accepting your different money personalities without blame, resentment, or bitterness. For help, read Tips for Talking About Money for Couples.

Talk about your money personalities before marriage. “After you marry, every asset either of you acquires is jointly held,” says Suze Orman. “That’s why you both need to be in sync on your long-term financial goals, from paying off the mortgage to putting away for retirement. Ideally, you should talk about all this before you wed. If you don’t, you can end up deeply frustrated and financially spent.”  For help, read Figuring Out Your Finances for Engaged Couples.

Consult a financial planner. Dealing with different money personalities as a couple can get difficult – and those difficulties can affect other parts of your relationship. To solve your financial problems, consider talking to a financial planner who can help you see the big picture. He/she can help you set your general financial goals (eg, retirement planning), as well as determine the details that will help you achieve those goals (eg, a monthly budget).

“In all realms of life it takes courage to stretch your limits, express your power, and fulfill your potential,” says Suze Orman. “It’s no different in the financial realm.”

Are you a saver — and is your partner a spender? How do you deal with it?  If you have any comments or questions on these tips for dealing with different money personalities as a couple, you are welcome below….

For more inspiration from Suze Orman, read How to Successfully Change Careers! 

Related posts:

1. How to Get Money to Start Your Business – Suze Orman
2. 8 Smart Ways Women Can Save Money – Suze Orman
3. Is This a Risky Financial Investment? Money Tips for Women