{"id":194301,"date":"2019-01-03T06:00:00","date_gmt":"2019-01-03T04:00:00","guid":{"rendered":"https:\/\/germistoncitynews.co.za\/194301\/managing-your-money-to-gain-independence\/"},"modified":"2019-01-03T13:12:14","modified_gmt":"2019-01-03T11:12:14","slug":"managing-your-money-to-gain-independence","status":"publish","type":"post","link":"https:\/\/develop.citizen.co.za\/germiston-city-news\/news-headlines\/2019\/01\/03\/managing-your-money-to-gain-independence\/","title":{"rendered":"Managing your money to gain independence"},"content":{"rendered":"

Certified financial planner Kathy Longo, who has engaged with a number of successful women who face challenges building their wealth and managing their money, offers tips on how to manage assets and build wealth.<\/p>\n

\u201cA lot of people believe a woman\u2019s greatest financial asset is a man,\u201d said Kathy.<\/p>

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\u201cA man is not a plan.<\/p>\n

\u201cOnly 23 per cent of certified financial planners are women, and the financial advice industry as a whole does not know how to speak to women or learn what they want.<\/p>

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\u201cIn some circles, there’s even the lingering feeling that women take a backseat when it comes to managing money and instead let their spouses handle it.\u201d<\/p>\n

ALSO READ:\u00a0Being money savvy this festive season<\/a><\/h4>\n

That couldn’t be further from the truth.<\/p>\n

Currently, women control $14 trillion of personal wealth and 51 per cent of total wealth.<\/p>\n

Longo has shared some tips for women who need help managing their money.<\/p>\n

\u2022 Know you may be alone again.<\/p>\n

Regardless of whether you\u2019re married or not, many women will find themselves single again at some point in their lives.<\/p>\n

\u2022 Understand your spending.<\/p>\n

41 per cent of Americans spend less money than they make, so the majority of us are spending everything we earn or more.<\/p>\n

\u2022 Understand your debt and know the difference between good and bad debt.<\/p>\n

\u2022 Build an emergency fund.<\/p>\n

\u2022 Save early.<\/p>\n

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ALSO READ:\u00a0Encourage your children to start saving early<\/a><\/h4>\n

Hav<\/strong>e a story?<\/strong><\/p>\n

Contact the newsroom by emailing: Melissa Hart (Editor)\u00a0<\/span>germistoncitynews@caxton.co.za<\/a><\/strong>or Leigh Hodgson (News Editor)\u00a0<\/span>leighh@caxton.co.za<\/a>\u00a0<\/strong>or Kgotsofalang Mashilo (journalist)\u00a0kgotsofalangm@caxton.co.za<\/strong><\/a><\/p>\n

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Catch-up on more local news with our sister newspapers\u00a0<\/span>Bedfordview Edenvale News<\/a><\/strong>,\u00a0<\/span>Alberton Record<\/a><\/strong>\u00a0and\u00a0<\/span>Kempton Express<\/a><\/strong>.<\/p>\n

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