With Daylight Savings Time today (don’t forget to reset your clocks!) Fidelity is challenging women across the country to take an hour to invest in their financial future. By investing this hour in your finances you can see some great long-term benefits, and you’ll be able to reap the rewards for years to come.
Why Take Time for your Finances
I know I’m a bit biased, but we don’t think about our finances often enough–especially as women.
According to Fidelity nearly 1 in 4 women report that they don’t take part in the decision-making around their finances at all. That’s pretty shocking to read, isn’t it? It’s likely that women will be in charge of their household finances at some point in their lives. More importantly being a partner in your finances allows you to make better decisions as a family.
Women have what it takes to be savvy money managers, though. We are already saving more than men, despite traditionally earning less than their male counterparts.
Ideas for #TakeAnHour
Make a Plan to Pay Off Debt: Make a plan to pay off debt. Whether you need to increase earnings or decrease spending having a plan will give you peace of mind.
Read more: How to Pay off Debt
Budget: Working on your budget is a smart way to manage your money. You can plan for holiday spending, put a plan in place to save more, and make a plan for paying off your debt.
Read more: How to Budget
Review Investments: Check your balances, dig into your rate of return, and see if rebalancing your investments is a good idea.
Double Down on Savings: Increase your savings by creating an automatic savings withdraw, increasing your 401k contributions, or starting an IRA or college savings account.
Retirement Readiness: Assess your retirement readiness. You’ll find calculators and comparison charts at Fidelity.
To help you figure out the best way to spend their hour, Fidelity also put together a visual roadmap(seen below) that leads to financial tips that can be accomplished in 60 minutes.
It’s a great reminder to spend an hour dedicating yourself to your financial future, and share you can share your plans using #TakeAnHour on twitter or Facebook.
What will you do with your hour?