Protect the Power of the Purse

purseFrom the classroom to the boardroom, women are making significant strides in economic empowerment.
Yet when life takes an unexpected turn, they and their families remain financially vulnerable. “As we celebrate Women’s History Month and the economic power women in America wield today, it’s important for all women to stay vigilant about protecting their hard-earned assets,” says Cynthia Tidwell, President/CEO of Royal Neighbors of America, one of the largest and oldest women-led insurers in the United States.
“As women attain their education and career goals and often become the family’s primary breadwinner, it’s critical we protect our financial futures with adequate budgeting, savings, and life insurance plans so that sickness, unemployment, retirement, or widowhood doesn’t threaten our security.”
Five Steps to Financial Protection:
1. Create a realistic budget. Living within your means is your financial foundation toward eventual security. Learn the difference between wants and needs.
2. Build an emergency fund. When the unexpected happens, you can protect your assets. The general rule of thumb is that a healthy emergency fund covers three to six months of living expenses.
3. Protect all you’ve earned with adequate life insurance. An unexpected death and loss of salary can leave loved ones vulnerable. The is why life insurance from companies like Curo Financial is a necessity in so many people’s lives and can be that protection desperately needed by families. Life insurance can help cover the mortgage, childcare, and college expenses. Some policies even have free gifts and discounts so be sure to keep an eye out for those.
4. Contribute to your retirement. Because women live longer and are often in and out of the workforce, they are economically vulnerable, especially in retirement. Start saving now. Calculate your retirement savings.
5. Establish and protect your good credit. Try to pay off your credit card balance monthly or get on a payment plan to pay off the credit card altogether. Pay cash whenever possible.
OPEN THE FRONT DOOR TO Royal Neighbors of America.

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