Carmen Wong Ulrich the author of The Real Cost of Living: Making the Best Choices for You, Your Life, and Your Money was on the Today show recently talking what Women should know about money in your 20s, 30s and 40s.
Here are some of the highlights they shared
Don't over pay for for your healthcare you can compare plans at ehealthinsurance.com
What women should know about money in your 20s
Also consider staying on your parents plan until you are 26 under the Obama affordable care act It would probably be cheaper for you and make sure you would help your parents out with your share
Contribute at least the maximum your employer will match to your retirement accounts
Make your budget work for this! I honestly wish I save more money in my 20s in my retirement however we spent a little bit too freely instead of paying myself first.
What women should know about money in your 30s
If you have trouble savings on your own, keep your W-2 witholdings high so you can save your tax return.
Have a 6 month emergency fund
There was a little bit of a debate on the w-2 withholdings, if you have a trouble saving look at your last year tax refund and divide that by 12 and pay yourself first
What women should know about money in your 40s
Make a will to stretch your money for your loved ones
Put 20% of your salary into retirement accounts-need to supercharge your retirement before college.
A will should be done as soon as you are married and especially if you have children. Oh how I wish we were saving 20% for retirement at this point however real life gets in the way. Trying to live frugally so I can save money.
Check out the video segment