Calling all Recessionistas:
It’s time to s t r e t c h that dollar!
The economy is down right now. There’s no denying it. We understand the importance of saving our money, making wise investments, and keeping a tight budget. Most of us take a look at our lives, decipher what is necessity vs what is luxury, and then budget our money accordingly. We are working more hours, getting paid lower salaries, and job security isn’t what it used to be. Times are tough right now which is why you deserve a break, a little vacation, a little spoiling. You work too hard all day, all week, and all year and you deserve to reward yourself. Consider this column your place to come and be reminded of the importance of taking care of ourselves physically and mentally; after all, we can’t perform to the best of our abilities in the workplace if the stresses of life are zapping the energy right out of us. Thus, the time has come to make room in your budget for some much needed R & R. I will provide you with some great financial resources and give you the tools necessary to give a little back to yourself without breaking the bank.
As professional women we tend to prioritize things differently that those who aren’t 9 to 5ers. We have limited time outside of the office to do much for ourselves. Whether it is hitting the gym or reading a book with a glass of wine, somehow we still feel stressed. We feel guilty enjoying ourselves because we can only think of how this time could be better utilized by being “productive.” That’s the first stop on our Road to Workaholic Recovery. We need to understand the importance of giving our minds and our bodies a rest every once in a while. From this point forward, vegging in front of the TV is no longer considered a day off. Finding time to take a walk around the block is not getting enough fresh air. And, going away for the weekend on a work trip where they allow some personal time to site see is NOT a vacation. Change your outlook. Taking care of yourself outside of your career is one of the most crucial things you can do. Think of it as building a stronger foundation within yourself to be an even better employee, coworker, friend, neighbor, and ultimately a more powerful and self-aware professional woman. Recognize that and we can move forward in customizing a plan to help you manage your money while treating yourself to good physical health practices and all around mental wellness.
So, money is tight with you. It is with ALL of us. Everyone has taken a hit from the economy crashing as it has but there is light at the end of the tunnel. In the meantime, we need to focus on keeping ourselves satisfied and fulfilled in our personal lives while still being conscious of our spending habits. I will introduce you to two very helpful financial resources that will be a great tool in helping you invest in yourself a little more while still being realistic. For the purpose of this feature, I want to share with you two very beneficial savings plans that will not only give you a great return in APY but will help you maintain your accounts more effectively and conveniently.
The first account that I am recommending is an online savings account called the ING Savings Plan. You can sign up for this free account at www.INGdirect.com and begin saving immediately. Not only will they give you an automatic $100 “thank you for your business” deposit but this account has one of the highest annual percentage yields available at 1.10% APY; higher than any physical bank that you can walk in to and open a savings account. It is easy to sign up and you get cash rewards when you refer a friend. Plus, you can maintain it with a few clicks of your mouse right from the comfort of your own home, your office at work, or from your IPhone when you are on the go. That is the convenience you get with this online savings account so if you deposit $200 a month, by the end of the year you’ve saved some serious cash! See the chart below to discover the growth potential. Do I hear the Bahamas calling your name?
If you aren’t too keen on the online banking idea, as some people like to have the face-to-face customer service, there is another great option that will help you achieve your budgeting objectives. Bank of America offers a great deal when you open a free checking account with them. The first perk is you get an automatic $50 deposited directly into your account. You still have the convenience of online banking with this financial institution as well if you choose to participate. Visit them at www.bankofamerica.com. Their website is user-friendly, easy to navigate, and lets you control your money. Once you are enrolled for your free checking account you have the option of taking advantage of their “Keep the Change” program that offers some really great saving potential. It works like this: You buy something using your debit card. Say, your total is $21.55. Bank of America will automatically round up to the nearest dollar and transfer the difference directly into a special savings account. So, now you have $0.45 in your account. It might not sound like much but every penny adds up- literally! Use it on all your purchases from groceries, to cocktails with the ladies, to making your car payment. By the end of the month you can treat yourself to a day at the spa!
We are professional women; respected in the workplace, intelligent, ambitious, and ethically strong. Add financially savvy to that list and…WATCH OUT! Taking care of our minds and bodies is just as important as providing a good service to our clients, growing our company and the business, or delivering a quality product. We can’t focus solely on work and let our health and wellness fall to the wayside. Like I said, one builds off of the other so lets make a promise to ourselves that we will take the time to reconnect with that powerful woman inside, use the money that we’ve saved to pamper our inner diva, and continue to keep ourselves educated on how we can use both our time and our money wisely.
Calling all Recessionistas! We are professional women who have worked very hard to get to where we are and we’re not about to stop. Our ambition and drive to be on top defines us a generation of empowered woman. It’s an amazing thing. However, many of us have had to cut back on our spending habits since the economy has taken a downward turn. Instead of skimping on a few new blouses and heading to TJ Maxx instead of Ann Taylor or having one less martini at happy hour, let’s try to take those savings and turn them into something that will renew our spirits. Follow me to the world of “The Modern Day Recessionista” where we can learn to save our money wisely so enjoying that much need R & R isn’t taking a backseat to hard economic times.
Financial sources used in this column include the following:
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