Tag Archive | Financial Terms

Is It Okay for Women to Get Payday Loans to Go Shopping?

A newer trend in for women is to get payday loans to go shopping. Some of these women are considered shopaholics. Is it okay to get a payday loan just because you want to go shopping?

The situation does matter. For example if you have to go to a work charity function, but do not have the clothes to wear and do not have the money until you get paid then it may be okay. There are times like this that cannot be helped and therefore the woman obtaining the payday loan does need to shop with that money, because they need something to wear to the even that they have to go to for work.

If a woman is getting a payday loan to go shopping at the grocery store so that she and or her and her family can eat then it should be considered to be okay. Sometime, especially if you have kids or a single mother, you run out of food before payday. You cannot starve, you have to eat, and this is one way that you can do so.

There are some women however take out payday loans so they can shop just to shop. They are not out looking for something that they want or need, the just want to shop. These women are what people call a shopaholic. They are addicted to shopping and want to shop no matter what it costs them. In this situation it should not be considered okay to get a payday loan to shop.

Are you in need of school supplies for your child but have no money at the moment? This is another time where it should be considered okay to get a payday loan so that you can go shopping. You do not want to compromise your child’s education over some school supplies.

Do you love to buy things for others? There are a lot of people out there who feel better when they give gifts to others. This is another example of when you should not get a payday loan to shop is to buy gifts for others when it is not needed. Even if it is for a birthday or holiday you should not overextend yourself financially.

More and more women all across the world are taking out payday loans so that they can go shopping. There are times where this is okay; it keeps you going until you get paid again. There are times however that one should just not take out a payday loan to go shopping, especially when it is for something that you do not want or need.

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    Top Financial Shortfalls of Women

    When it comes to finances most of us women do not know it all. We have shortfalls when it comes to certain areas of our personal finances. Here are some financial shortfalls that women have, knowing them can help you stop doing them.

    The first one is that women lack confidence when it comes to their personal finances. It is because of this lack of confidence that women tend to wait longer to invest their money than men do. This can cause us to not have the money that men do simply because we did not have the confidence in ourselves to start investing earlier in life.

    Another financial shortfall that most women have is negotiating. This goes along with lack of confidence. We do not have the confidence to negotiate our salaries. We are also ruled by our emotions more than men are and therefore when it comes to negotiating we tend to take a step back. Gain some confidence and negotiate the salary that you should have.

    There is still an earnings gap between men and women. This goes with negotiating. If we negotiate our salaries we can help to close that earnings gap. With every generation that is entering the work force the earnings gap does get smaller, but the problem is that it is still there. Women must work to close the earnings gap and get paid what they are worth.

    Spending is another financial shortfall that most women have. Women like to shop, everyone knows that. Women tend to spend more than men do. Again we are ruled by our emotions and that does affect how much money we spend. The more emotional we are the more that we tend to spend. Before you go shopping get your emotions in check so that you are not spending more money than you should be.

    Women usually live longer than men, most of us know this. This does mean that we need to plan for retirement differently than men do. We need to prepare for us to live longer than our significant other. Women are usually planning for retirement the same way men do and the truth is that women must plan differently when it comes to retirement.

    Many women have financial shortfalls that they must learn how to deal with. Knowing what your financial shortfalls are is the first step to changing them. If you cannot recognize what you are doing wrong how are you able to change it? You cannot, that is why you must pay attention to what you are doing. Do not let your emotions take charge of a situation that seems to just make the financial shortfalls of a woman get worse.

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      Women, You Should Know These Financial Terms

      Studies show that women do not feel as though they know enough about finances. It is every woman’s responsibility to make sure they are financially literate. There are things, such as the following terms, that all women should know.

      First, ladies, you should be familiar with stocks and bonds. Do you know what they are? When you purchase stocks you are basically purchasing and then owning a part of a company. So how do stocks work? When you purchase stocks in a company you wait and see how that company does. If it does well you can sell all of your stocks for a higher price, thus making money. You may have heard the term “buy low, sell high”. This applies to stocks. You want to buy them when the price is low and sell when the price is high.

      So what about bonds? These are simply just and IOU. With a bond you are lending money to the government or a corporation. Then the government or corporation will pay you back the amount that you lent, plus interest. Both stocks and bonds must be purchased through a broker, and most require about five thousand dollars for a minimum deposit. If you do not want to pay that much, you can look around for a broker who has a lower minimum deposit.

      Next is equity, which is the current value on your home, but minus what you still owe on your mortgage. Equity is the portion of your home that you actually own. Some people take out loans on their home’s equity, keep in mind that this can be risky, so you must make sure that it is a good time to do it before you do. If you take out a home equity loan and then your home’s value is decreased because of a poor market, you may end up owing more than your home is worth.

      Do you know what your net worth is? Add up everything you own, such as: equity in your home, retirement accounts, stocks, bonds and so on. Then subtract all that you owe from that amount. Student loans, credit card debt, mortgages, car loans, and so on are all examples of debts you must subtract from the first amount. What you are left with is your net worth.

      Ladies do you know about estate planning? Estate planning is doing things such as: making sure you have an updated will, health insurance, long term care insurance, a health care proxy, and so on. Doing this will make things much easier on your family. It will also make sure that those you want to have certain things and those that you want to have certain responsibilities are able to do so. Many studies show that women tend to live longer than men, so there is a chance that you will not have your husband to take care of everything when you go. This is a big reason why you want to stay on top of your estate planning.

      All of these are terms that all women need to know, whether single or married. Becoming financially educated is the first step toward financial freedom. All women whether married or single should strive for financial freedom to secure their financial future.

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