As women, we hold many responsibilities. We have a lot to worry about and as women we must make these decisions for our family. Part of those responsibilities are planning for our future. We plan, to grow up, get married, buy a house, have children but with that comes way more things to take care of. What would happen if I was no longer here on earth to provide for my son? What would happen with my husband, my mother, my family and my legacy? All those questions came to at the Prudential #WomenInspired tour that launched in Houston last week at Hotel Zaza.
Money, wasn't something that I was taught to save. Being a first generation Mexican American my parents from what I remember didn't talk about money much. They had enough money for the house we lived in, the car they drove, the food on our table and occasional trips to Mexico to visit the grandparents. My father worked as a mechanic and my mother was a stay at home mom. My mom and dad divorced after 17 years and I learned a a young age that I didn't want to be a stay at home mom and rely on another person to provide for me. I saw how hard it was for my mom to raise and provide for her 5 children. That motivated me to dream big.
Although, I did and was a stay at home mom for the first few years of marriage and motherhood. I was always doing something. I now am so proud to be able to provide for my household, be my own boss and make my own change and work from home. J - However, being a boss mom comes with making boss moves. One of those moves for me was attending the Prudential #WomenInspired event. The Campaign is aimed "To empower women with financial solutions so they can be confident they re making the right decisions for themselves and their families."
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| fellow boss mom - Cristy from DiMe Media. |
As women, we are the decision makers, the influencers in our household, the purchasers and leaders. Therefore, I am thankful to Prudential for investing in women and inviting me to attend the event to learn how Prudential could have helped me in the past and can help me in the future.
How it could have helped me in the past?
Easily, when my husband had a major record deal 10 years ago and money wasn't an issue, I was fortunate to be a stay at home wife. Although I was working from home, I should have had someone such as Prudential managing my money. My allowance, my per diem, my checks lol instead I was living it up and spending. I was young, fly and flashy and didn't think of saving a dime. Fast forward to now, still married, nice house and now not worried about the fancy cars. I love shoes, good food, travel more and I have a 6 year old son whom I want to show the world to but also want him to see his parents being responsible. I have invested 3 years of Montessori schooling (which isn't cheap) a mother who I send money to (Mexican kid responsibility) and a business I am investing in for myself and my family which leads me to how Prudential can help in the future.
My personal financial goals?
To be able to finance my sons college and have the means to retire at a good enough age and travel and enjoy the one life God blessed me with. I know that may be your goal too...remember with planning and the right financial education; it is possible.
Ladies, even if you aren't a mom, take a look at the below questions and resources to educate yourself for financial freedom.
Motivating Moms for Financial Success
MANAGING FAMILY & RELATIONSHIPS
1. How do you define being a successful mother?
How can you measure The Value of all You Do? Depending on how many unpaid jobs you work just to take care of your family—Cook? Chauffeur? Tutor? Housekeeper? Family accountant?—It might take more than eight people to replace you as the multitasking guru. If you want to know the dollar value of the time you spend every week, click here to find out. #WomenInspired
http://www.bringyourchallenges.com/value-of-all-you-do
2. Planning for new financial challenges – no matter what age you are
No one knows what the future will bring. No matter what your age—25, 45 or 65—life can throw you a curve. Family responsibilities can grow. New life pursuits may interest you. You may live to 100 years old. Only time will tell. Learn about how to protect your family, your money and more—today and maybe 50 years from now. Click here. Find additional links below for specific groups. #WomenInspired
http://corporate.prudential.com/view/page/corp/31885?src=WM&pg=LifeCyclePlanning
3. Stop Being the Family Bank
To help or not to help…that is the question. As you are trying to maintain your financial wellness, lending or out-right giving money to family members is a tough decision. Check out this how-to-deal video from The Root. #WomenInspired http://www.theroot.com/articles/culture/2015/05/the_root_live_how_to_stop_being_the_family_bank.html
COLLEGE PLANNING
4. How to pay for college without sacrificing your retirement?
Which comes first – paying for college or saving for retirement? This is a daunting question even for the most financially savvy. Here’s a quiz that can provide clues for parents and their kids on how to pay for college without jeopardizing retirement savings. #WomenInspired
https://www.prudential.com/wps/wcm/connect/c6d60a4a-8073-4c12-8d7f-ce5d8b4272a1/Paying_for_College_Pop_Quiz_ADA.pdf?MOD=AJPERES
5. How can you help your children avoid massive debt after completing college?
When it comes to paying for higher education, use your smarts to figure out the best ways to end up with the least amount of debt before you send your kids off to college. The attached infographics show some of the latest data. #WomenInspired
Infographic: 8 Tips to Avoid College Debt
Infographic: Paying for College_FASFA
PERSONAL GOALS
6. How can you achieve your personal needs for success without sacrificing the needs of your family? Ask for HELP!
Career, family, and other day-in, day-out commitments can consume every minute of your time if you let them. It’s easy to become overwhelmed. So many resources are available to help women remain physically, mentally, and financially fit. The first step is to be willing to accept the help to take care of yourself and your financial health. Find more here. #WomenInspired http://corporate.prudential.com/media/managed/wm/WM-A-Taking_Care_of_Yourself_and_Your_Financial_Health.html
7. Is there such a thing as work / life balance? Learn how to prioritize. Juggling work and family to reach your goals isn’t easy, but it can be done. Finding dependent childcare or eldercare, flexible work schedules or asking the family to help around the house are a few ideas. Click here for more. #WomenInspired http://corporate.prudential.com/media/managed/wm/WM-A-Juggling-Work-and-Family.html
PLANNING FOR THE FUTURE
8. It is a fact of life that we all age. What’s your plan to protect yourself and your family for generations? Millions of people are living longer than they ever thought possible. Watch these two thought-provoking videos to learn more about the importance of planning for whatever the future may bring. #WomenInspired
http://lifeinsurance.prudential.com/view/page/iliconsumer/31740
9. What will it be—buying off-the-runway spiked heels or long-term financial wellness? We’re all faced with hard choices, especially when it comes to what we want right now vs. saving for the future. Could the extra cash you have hidden away in that secret compartment in your purse make an impact on your retirement 30 or 40 years from now? Here are a few ways you can find out. #WomenInspired
http://www.bringyourchallenges.com/i-want-it-now
10. Who taught you how to spend, save and invest money? It’s time to teach your kids to be money-smart. Raising money-smart children may start small with just a piggy bank and lead all the way to saving for retirement. Read several personal essays about how kids learned from their parents here. #WomenInspired
http://www.prudential.com/media/managed/wm/WM-I-Teaching-Kids-About-Money.html
11. The Procrastination Personality Test
Show me one person who doesn’t procrastinate…wait, let’s be honest…I don’t think you can. Actually, there are at least six distinct styles of procrastinators. Who knew? Take “The Procrastination Personality Test” to better understand why you put things off and how those actions may negatively influence your financial future. Knowing why may actually help you change your ways. #WomenInspired
http://www.bringyourchallenges.com/procrastinator
12. Hispanic Americans’ Attitudes about Retirement
Fear of debt and a poor understanding of workplace-based retirement plans are just two out of six reasons why Hispanic Americans may shy away from retirement plans. Get the stats from “Top 6 reasons for not contributing to workplace-related retirement plans,” an infographic from a 2014 study from Prudential. #WomenInspired
Infographic: Hispanic Americans’ Attitudes about Retirement
[Use PDF in the accompanying graphics folder or find it at: http://www.prudential.com/media/managed/hispanic_en/infographic_retirement.shtml ]
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