A woman that is financially strong, is a powerful woman. But this doesn’t just mean that you understand how to budget and save your money. It also means that you understand how important it is to protect your assets.
Regardless of how good you are at managing your money, you could be vulnerable to losing it all. Especially, if you aren’t protecting it properly. Whether it’s an unexpected expense, a financial scam or a major life event, your money is always at risk unless you’re using these methods to protect it.
don’t get bamboozled
Email scams are one of the most common ways that people are scammed out of their money. But lately, you may have noticed quite a few suspicious looking text messages as well. Be careful when you receive a communication about a job that you don’t remember applying for or a text to confirm your deposit. When it comes to getting scammed, your first line of defense is you.
protect your money… even in your relationship
It’s not something that you really want to think about before getting married but it may be in your best interest to at least speak with a prenuptial agreement lawyer. Most of us are ready to sign up for a joint account right after the ceremony. But wait. If you both bring investments, real estate, or substantial savings to the marriage, you’re going to want to do what’s best… for the both of you. Knowledge is power and it won’t hurt to understand your vulnerabilities and potential liabilities.
always have an emergency fund
Unexpected expenses can wipe out your savings. It’s one reason why having a separate emergency fund provides the resources needed to weather a financial crisis and no railroad your nest egg. Start by creating an emergency fund of $1000. Then, increase it until you have 3-6 months of all of your expenses stashed away. This financial cushion provides the security needed to get through just about any money issue that comes your way.