Miss (Financially) Independent

photo credit - borman818

A few weeks ago I had gone out to dinner with a small group of friends and we eventually stumbled on the topic of personal finance and investing. A female friend of mine was asked  how she handles her investments, and she said something along the lines of letting her financial adviser manage it all.  I was a little–no, a lot, speechless. Now. I think having a financial adviser isn’t a bad idea, but it’s also not absolutely necessary. Having someone else manage and oversee your money might help in learning a few things. At the same time, if you took a little time to learn about these topics on your own you’d definitely be protecting yourself, not to mention educating yourself on your own money. I’m definitely not the expert on either subject, but I do make it a point to read as much as possible about both topics. Maybe it’s partly because I’m a young woman, an only child, and extremely independent.  Maybe it’s partly because finance is a topic that interests me. Either way, I think it’s absolutely crucial (for women especially) to  gain independence in knowing how to handle your own finances. A tool like mint.com is a great way to see your spending habits in a more visual way, set budgets and financial goals. Many investment sites also have a section where you can experiment around with certain stocks to see what the outcome might be. Of course it’s not Monopoly money when it comes to the real market, but if you learn well, you may do well. Take some time to explore the investment website ( if you do have stocks) to what exactly what the transactions, numbers and symbols mean. If you don’t have investments, and are just saving, start investing…it might yield you more in the long run.  I recently started reading on Wise Bread, a community of financial bloggers who are mostly ( if not ALL) women. Through that site, I’ve been reading a series of other finance based blogs including but not limited to the following:

Almost Frugal

Get Rich Slowly

Girls Just wanna Have Funds

It’s a great idea to educate yourself on your own finances. You might have a wealthy spouse, a trusted adviser, or even a hefty savings, but you never know when any of these might run out.

What are your thoughts? What are some of the tools you use to manage or learn about finances?

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