Real Money Answers for Every Woman: How to Win the Money Game With or Without a Man

Real Money Answers for Every Woman: How to Win the Money Game With or Without a Man

by Patrice C. Washington


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Now widely available, the popular, award-winning, self-published guide to help women get out of debt, rebuild their credit, and fulfill their financial dreams.

Patrice Washington rationalized her excessive spending. “I work hard, I deserve this.” “I bought it on sale.” But at twenty-two, the recent college graduate was $18,000 in debt and sinking fast. It was time to take control. Patrice educated herself about finance, adopted a new attitude toward money, and most importantly, adjusted her spending habits. By twenty-five she was debt free—and used the wisdom she gained to start her own successful real estate and mortgage brokerage—and by twenty-nine started her own financial counseling business.

Patrice’s former bad spending habits aren’t unique, and women find themselves in financial hot water for a host of reasons. Women earn less than men and have to stretch those hard-earned dollars further. They contribute more to caregiving and aging parents, live longer, and many—including most African American women—are choosing to stay single.

Real Money Answers for Every Woman teaches you how to take responsibility for your financial future, whether you’re just starting out or need a fresh start. In a handy Q & A format, it offers relatable and easy to understand and implement advice on everything from managing credit cards, home ownership, and student loans to affordable childcare and even negotiating for a higher salary. Following Patrice’s practical advice, you’ll learn to form “wealthy” habits, establish an “opportunity fund,” stop collecting STUFF that causes debt, and discover the freedom that comes from feeling financially secure.

Product Details

ISBN-13: 9780062420268
Publisher: HarperCollins Publishers
Publication date: 01/19/2016
Pages: 256
Sales rank: 467,012
Product dimensions: 5.50(w) x 8.20(h) x 0.80(d)

About the Author

Patrice C. Washington is the author of the financial series Real Money Answers and is a featured columnist and leading authority on personal finance. She hosts a weekly segment on the nationally syndicated Steve Harvey Morning Show. She has been featured in Women of Wealth Magazine, Black Enterprise, and the Huffington Post, and on Bloomberg TV and CNN Money. She lives in Atlanta with her husband and daughter.

Table of Contents

Section 1 Create Wealthy Habits 1

Money Mindsets, Attitudes & Myths 3

I deserve it 4

It was an emergency 4

I bought it on sale 5

A couple bucks never hurt anyone 5

If I made more money, this would be easier 5

I'll start later 6

I don't make enough to save 7

I don't know anything about money 7

It's good debt 8

I'm just a giving person 8

Wealth Begins Within 11

What the heck is a financial blueprint, anyway? 12

My parents didn't teach me anything about money. Now what? 14

How do I start changing the way I think about money? 15

What can I do to create wealthier habits? 16

Where do I find the motivation to change my habits? 20

I have so much fear around financial matters. How do I get over that? 21

Setting the Foundation 23

What is personal finance, really? 24

What if I'm not really a finance type of person? 25

What is the most important financial principle I should know? 26

How do you define wealth? 27

How do I set financial goals I can achieve? 27

Why should 1 care about what's going on in the economy? 29

What other resources should I use to get control of my finances? 30

Section 2 Earn More Money 33

Workplace Wisdom 35

Why haven't I found my dream job? 35

What can I do to get noticed for the job I want? 37

How do I negotiate a higher salary? 38

What does my personal life have to do with my professional life? 41

How do I avoid workplace drama? 43

Isn't it true that mean girls make more money? 45

How do I know when it's time to find new employment? 47

Get Your Hustle On! 49

How could I possibly start a business and keep working? 50

How am I supposed to balance a job, a side-business, and a family? 52

How do I even know what I'm good at? 54

How can I begin making money from my hobby? 56

What if I'm just not the "salesy" type? 58

What can I do to market my business? 59

What are the basic business lessons I should know? 61

How can I network effectively? 63

You Are Your Best Investment 67

How can I afford personal development when I'm broke? 68

I've tried lots of self-help systems. Why hasn't anything worked? 70

What's the difference between a mentor and a coach? 71

Should I go back to school if I already have debt? 72

Is it possible to avoid student loans if I go back to school? 74

What's the real difference between grants and scholarships? 75

What should I do with a financial aid refund check? 76

How can I take advantage of loan forgiveness? 78

Section 3 Manage Money Wisely 81

Get It Together! 83

What documents should every woman have on hand? 84

How can I keep my finances organized? 86

How long should I keep financial documents? 89

What software do you suggest for managing money effectively? 91

What professionals should I have on my financial team? 93

How do I choose the right professionals for my personal finance team? 95

Budgeting Effectively 99

Why do I really need a budget? 100

How do I differentiate between needs and wants? 100

Why is budgeting so freakin' hard? 102

How do I make a budget the right way? 103

How do I know if I've created a realistic budget? 104

Can you explain the concept of living by percentages? 105

What if I have inconsistent income? 107

Will my creditors really move my due dates to fit my personal budget? 108

Saving and Reducing Debt Simultaneously 111

What's the difference between short-term and long-term savings? 112

How much do I actually need to have saved? 112

Seriously! How can I possibly save six months of income? 114

I've heard of an emergency fund, but what is an opportunity fund? 115

If I save on my own, do I still need my employer's retirement plan? 117

You're insane! How could it be possible to save too much or pay down too much debt? 118

Aren't there forms of good debt? 120

Is it okay to buy stuff while I'm still in debt? 120

What is a debt eliminator, and how do I determine my debt-free date? 121

What's your take on payday loans? 123

How do I know if I should just file bankruptcy? 124

I've already filed bankruptcy. Now what? 125

I've pretty much paid off all my debt. Now what? 127

Isn't buying a home a great investment and savings tool? 128

The Fundamentals of Banking 133

What's wrong with using check cashing centers? 133

How do I know my money is not safer with me than in a bank? 135

What's the real difference between a credit union and a bank? 135

What's the difference between a checking and savings account? 137

What should I look for in a checking account? 137

What should I look for in a savings account? 138

Where's the best place to save my opportunity fund? 139

How do I stay away from ATM machines? 140

How do I avoid overdraft fees? 141

Can I open a new bank account if I owe money to another bank? 145

Why can't I just use pre-paid cards? 146

Boosting Credit 149

How do I obtain a copy of my credit report? 150

What information should I expect to see on my credit report? 150

What should I do if there are items on my credit report I don't recognize? 151

What's a credit score, and how is it determined? 152

What's the difference between installment debt and revolving debt? 153

What's the difference between a credit card, charge card, and debit card? 154

What Should I Do If I'm Terrified of Credit Cards? 155

What about department store credit cards? Good or bad? 156

Can I build or rebuild credit without credit cards? 158

How do I begin to clean up my credit now? 159

How do I keep the credit cards I have in good standing? 161

Should I close a credit card once I pay it off? 162

What should I say once I get my creditor on the phone? 164

What should I do if I'm being harassed by a creditor? 165

How do I prevent identity theft? 166

Section 4 Relationships and Money 169

Your Honey, Your Money 171

What are the warning signs of a financially irresponsible person? 172

Are there questions I should ask about money while we're dating? 173

I prefer to date men with money. Does that make me a gold digger? 175

What should I do if discover my mate is fundamentally bad with money? 178

How can I make my man better with money? 179

I make more money than my man. Why do I feel like he can't handle that? 180

Each time my mate and I discuss money, things get tense. How can we get through this? 181

How do we decide who should manage the money? 182

I chose to stay home with the kids. Do I still have a right to be involved with the money management? 183

Should couples share bank accounts? 184

Do you suggest I keep a secret stash my partner knows nothing about? 185

At what point should I accept that the money issues have completely ruined our marriage? 186

How do I recover financially after a divorce or break up? 187

Friends & Family or Financial Foes 189

How can I tell if I'm financially enabling someone? 190

How does co-signing a loan for someone else affect me? 193

Should I lend money to friends? 194

What's wrong with borrowing money from my friends or relatives every once in a while? 195

How do I deal with girlfriends who have it all? 196

I think my friends are taking advantage of me financially. How do I protect myself, but keep the friendships? 198

How do I find the courage to say no to a loved one that needs help? 199

I said no, and now my loved one isn't speaking to me. What next? 200

Kids & Money 203

How can I make sure my young children have fun learning about money? 204

When and how do I give my children an allowance? 206

I think I may have entitled children. Can this be changed? 208

You really think kids should work? 211

What should I be doing to make sure my child can attend college debt-free? 212

How can I say no to my adult child? 215

Appendix A 217

Appendix B 219

Appendix C 225

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