Top Financial Challenges For Women 

 

 

 

 

 

 

far from trying to stereotype women, we just want to share few of the top financial challenges women face in today’s society, disadvantages that women need to be aware of when dealing with money matters. Again we’re not trying to stereotype women, each woman is unique and possesses the ability to soar and be a world class influential woman.

let’s dive in!

1. Wage Gap– on average, women earn less than men. Why that gap exists is a matter of often-heated debate, but the fact of its existence isn’t disputed.

 

 

  • What to do– While the wage gap is a subject for society as a whole to address, in the short term, individual women need to focus on money management and budgeting. A very particular trait in women is the ability to focus and multi task. Learning and developing new skills, one of the best ways of facing the wage gap challenge for women is by consistently tracking spending in writing. Skills are learned so this is one skill all women should learn tracking all spending, and using the collected data to create a new written budget. See our budgeting article

 2. Price Gapproducts designed exclusively for women are more expensive than those meant for men, women’s clothing is more likely to need dry cleaning, and women have to purchase things like cosmetics that men don’t use. All of these expenses add up to a hefty price gap between the genders. Studies have also shown that women’s health care is more expensive than men’s, even when exhibiting the same symptoms, not surprise!




  • What to do– Again, budgeting is key. Comparison shopping is also a must. There are all kinds of great apps or even store websites that can be use for comparison with the idea of saving money. The number one form of overspending isn’t buying on impulse, it’s paying too much for things. So look at your necessary spending and see if there’s anything you’re paying too much for that can be bought cheaper from another source, or in bulk. See our 10 ways of to make extra money article

3. Long-Term Care some of these categories seem especially unfair, in that they represent admirable qualities that nevertheless result in financial challenges for women. A Princeton study found that women are twice as likely as their male siblings to end up caring for an elderly parent. And a study from the Journal of Applied Gerontology found that women are more likely to be displaced from the workforce when providing long-term care.

  • What to do– The best solution is to plan well ahead of time, it is always a good idea to add a long term care insurance  tab to your budget planning when you start thinking that it might be necessary in the coming years. The fact that is in your mind, and you are concern about it tells that you might want to start planning for it before is too late.  Put a small percentage aside on your budget and get ready so that you’re able to get long-term care insurance to meet this need when the time comes. Every family situation is different, but if you think this kind of situation is likely, that insurance is more likely to be worth it. And your whole family needs to come together and decide if they are going to buck the trend and share care giving responsibilities equally among siblings just make sure is on writing as a contract, not that you don’t trust your family but, people tend to agree to this type of things and many times fail to deliver leaving the responsibility to a single individual to deal with. See our the secret to savings article

4.Charity – another category that turns a positive into a challenge; women are more likely to give to charity than men, and on average they donate more.




  • What to do– Donating to worthy charities and those that are concistent with your values is great, so we’d only caution you to make charitable giving part of your written spending plan so you don’t go overboard.  You can’t give what you don’t have, do not over promise and do not let anyone bully you or manipulate you into giving. Set a percentage of your income in your budget for giving and stick to it. Do not write checks by Faith to bounce back and get charge for overdraft knowing that there’s no money in your account. Doing that won’t help you or the causes you support. Think of when you’re on an airplane; they tell you in an emergency to put the breathing mask on yourself first, before helping anyone else. The same principle applies here. You’re no good to charities or the needy if you can’t make ends meet yourself. Follow your budget and give as you can, your priority is working your money plan so that you, your family and the people you love and wantvto help can benefit, so make giving a top priority in your budget and give accordingly. See our why giving article

4. Education– yet another positive trend that ends up costing women more money. These days, women are more likely to attend college than men. That’s good—it’s part of how society is addressing the wage gap—but with tuition costs skyrocketing in recent decades, today’s graduates are left with hefty student loan debt.

  • What to do– Student loans are a huge headache for graduates and a huge business for financial institutions everywhere in America, Student loans sees no gender it affects men and women alike. see our How to pay for college without using student loans article




 

What other financial challenges you think women are facing today?

If you’ve got difficulties with your finances in general we’re here to help. Contact us today @ www.redtogreeneconomy.com or @ getinfo@redtogreeneconomy.com

Meet Eboni Phillips, She Went From Being Bankrupt To Educating Herself To Teaching Others About Credit

Eboni Phillips Went From Being Bankrupt To Educating Herself To Teaching Others About Credit

This post is courtesy of LadyBossBlogger

Posted by Elaine Rau

Eboni Phillips has seen poverty in its rarest forms, from sleeping in the back seat of cars to getting them repossessed, Eboni knows exactly what it’s like to be less than credit worthy. After countless experiences with trial and error, she decided that she would use her experience with bad credit to help serve the community and educate others about being financially integral. Read our interview with the lovely Eboni below…





What motivated and inspired you to start your own business?

Well I had no idea I would be a credit specialist. I’d had issues with credit for years. I found myself severely depressed sometimes knowing that I couldn’t get an apartment or vehicle without a cosigner. I sat down one day at a dealership with a car salesman and was told “you need to file bankruptcy” I decided then that credit would not be a hindrance any longer. I was my first client. I applied what I learned to my situation and saw results immediately! I then went on to help family and friends and decided that “serving” others in the area of financial empowerment was my lane. As far as walking away from corporate America to pursue my passion full time, I knew that my potential was bigger than the cubicle that I sat in every day. There is a misery that comes along with not utilizing your full potential and I felt that misery daily. The thought of working 35 years just to survive wasn’t too appealing to me, the glass ceiling on my pay scale drove me crazy… I decided that I wanted to leave a legacy that proceeds me and entrepreneurship was how I would create it.

 

Tell us about your business.

I own and operate Elite Credit Consultants LLC. Our purpose is not only to restore your credit but to give you the tools and essential education necessary to maintain your credit score long after your time as a client with us. I get extreme satisfaction from educating and empowering consumers in the area of credit management. Not only do we focus on disputing inaccuracies but we sit down and have in depth conversations with our clients to figure out where the weak areas are and how we can strengthen them in those areas. Elite Credit is more than a business, it’s a lifestyle!

 

Are you currently running any promos/contests/giveaways that you would like our readers to know about?
Yes. Currently I am offering 15% off all new client enrollment until May 1st.

List awards/certifications/accomplishments.




I am a board-certified credit specialist and credit score analyst through the Credit Consultant’s Association.I will have my Degree in Economics in May of this year.

Where is your business based?

We are located in Ypsilanti, Michigan.

 

What were the first few steps you took to get your business up and running?

The first thing I did was research the requirements to work in my field legally in the state of Michigan. It is very important to be PCI compliant in my industry.Next I researched ways to get certified, even though it is not required in my state I just believe in credentials. I studied hard and passed two exams to become a certified credit specialist and score analyst. I then became my first client.I applied for my articles of incorporation and EIN number.I created a Success (Business) Plan.

 

What has been the most effective way of raising awareness of your business and getting new customers?
Social media has been a great help with getting new clients, but honestly referrals are the lifeline of my business, without word of mouth I don’t think ANY credit business will stand for long. I also understand the scripture “Faith WITHOUT works is dead”. Everything that I do in business is a faith move, I put in the work and I allow faith to produce the end result.

What have been your biggest challenges so far?

My biggest challenge so far has been owning the fact that I am an influencer to the nations. For so long I thought I didn’t deserve to be blessed, so I guess just coming into the realization that greatness is in my life and that there is nothing or nobody that can change that has been my biggest challenge to date… We sometimes can be our own worst enemy.
How did you overcome these challenges?

Entrepreneurship is not for the weak and sometimes you will get discouraged. I implemented lots of prayer, fasting, and meditation on what the word of God says about me! I also began to speak positive affirmations over my life and business daily.

 

How do you keep motivated through difficult times?

I worship in times of difficulty… I know how to pray it through. I have learned the secret to living and that is to be grateful in all situations, to always give thanks, and know that you are your only competition. My daily goal is to be a better version of myself than I was the day before.

How do you distinguish yourself from your competitors?





When you’re a real leader, you know that you have no competition. I don’t mind others taking a seat at my table because I know we are all going to eat. We are all playing for the same team. I am SAVED. I use my entrepreneurship platform as a tool to evangelize and bring people into the knowledge of Christ. If I’m not helping to increase the kingdom, then what I’m doing is for nothing. I stress the importance of what the Bible says about debt and money when I educate… I make it a point to always point people back to God.

What is the best advice you have received recently?
Be CONSISTENT… Sometimes when we aren’t getting the results we think we should be getting, our consistency in our craft dwindles.
What advice would you give to other entrepreneurs?
KEEP GOING… GO ALL THE WAY. Believe in yourself and your gifts. See yourself and your service as an asset and not liability. When you make the decision to be an entrepreneur, you decide to accept the process that comes along with it, and nobody said the process would be easy or fun… but it will be worth it. You’ll thank yourself after.

 

What is your favorite business tool or resource?

My favorite business tool is Facebook live right now for the sake of my financial tip Vlogs I record every Tuesday. I’ve fallen in love with periscope though, so soon I will be taking my talents to that platform. What social media outlets do you use? List them below.

Instagram @thecreditqueen__
Facebook www.facebook.com/Elitecreditrecovery
Facebook Group www.facebook.com/groups/555346381333371
Website www.elitecreditconsultant.com
Email elitecreditconsultants@gmail.com
Hashtags #EBONIINSPIRES #ELITEEFFECT #IFIXCREDIT

What is a good article or book you have read recently?
I am reading the book “Angel Armies” By Time Sheets.

What are you currently learning about for your business or looking for help with?
I am working on an extension to my business through the avenue of real estate… I will be licensed to practice and assist first time homebuyers by the end of the summer. I’m always looking for mentors to further my education in my field but until I find one with a like mind, I will continue to self-educate and attend trainings.

What are your goals for the next few months and how are you striving to achieve them?

In the next few months I plan to have my Real Estate license, College Degree, and increase my social media following and conversion rate. I have my blinders on, I’ve never been so focused and determined to succeed. I will be consistent in my studies and post fresh relevant content daily on my social media outlets.

Passive Income from your phone

few weeks ago my friend Simple Ula shared this cool post on her blog related to in my opinion to passive income, I personally love the idea of having passive income as a way of making money, and for that I also use couple of apps that help me generate the passive income without too much effort. As an example I use ibotta and it’s the coolest thing ever the rewards are phenomenal. So, I decided to check out these lockscreen Ads and I am so glad I did. So, here it is check it out. What to do so we won’t do anything, but we will earn some money?

I’m going to write for you about the ways of creating some passive income from your phone and today I’m going to write about lockscreen ads.

You won’t make a full time income from it, but you’ll, for sure, make some of the so claim passive income. They’re free to download so why not, right?

 

At the very beginning, I was pretty skeptic about it and also worried that it will slow down my phone, but nothing like that happened, fortunately. That’s why I’m happy to share it with you guys :).

With both of these ways below, you can withdraw your money through PayPal or if you want, you can get a gift card to amazon, Starbucks, Ebay, etc.

1. Slidejoy 

This app puts adds on your lockscreen and all you have to do is just swipe to the left before you use your phone (if you have some code on your phone, the code will go next, nothing changes). No clicking on the add, no nothing and it also doesn’t matter how much you use your phone. Just as simple as it sounds and it pays you (by giving you points) just for having adds on your lockscreen on your phone. It takes for me half a second to get rid of it to use my phone normally Believe me, it’s very easy to (download it here) and to use it. You can also do surveys to get some extra money, which you can cash out through Slidejoy.

2. Fronto

It is an alternative to which works basically the same as Slidejoy. You can download it here and if you use my referral code: yadiz , we both will get 1,250 points so how amazing it would be for you to start this app with already some extra points on your account (to be honest I wish I had a referral code from someone when I downloaded it). It only takes another half of a second for me to get rid of it and “get to” my phone as normal. You can also do surveys on this app, just like on  Earn up to $7500 for one sale!

href=”http://getslidejoy.com/r2/e3pszDBsQqgmtzo8GQaFhg”>Slidejoy .

 Slidejoy has better reviews, but for me they’re both great and I have them both on my phone, why not, when you can get some extra coffee or green tea latte for free a month or collect all this money and save it for a purchase on Amazon whenever you’re ready :).

Unfortunately both of these apps work only on Android, sorry Iphone owners. I’m sure Iphone also  has some cool ways of generating some passive income.