A Woman’s Guide to Managing Money
Different life stages, different financial needs. Whatever your situation here’s what you need to know now.
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Different life stages, different financial needs. Whatever your situation here’s what you need to know now.
Glenn R. Carrington, national tax director for client services at Ernst & Young L.L.P., is on a mission. After 30 years in the tax profession, he is anticipating retiring in four to five years—but not before he imparts some advice on how his firm can attract and retain more African Americans. One of his ideas has already come to fruition. In 2007, Ernst & Young launched the Diversity Tax Leadership Conference, a program that exposes more than 100 invited students to the career possibilities within the tax profession over a three-day period in New York City. “We normally go on to hire 90% of the people we bring in,†notes Carrington.
For a start up, the first few years of life are most critical. It’s a pivotal time that only a fraction of ventures have the capital, resources, and stamina to survive. Stepping in to help entrepreneurs are business incubators, which provide coaching, networking opportunities, and even affordable office space to newly minted entrepreneurs.
Newlyweds Derick Pearson and Felecia Hatcher are first-rate savers. Pearson was raised in a large family and taught the importance of saving by his aunt and uncle, Jean and Stan Kennedy. “They taught me how to budget every cent, along with saving for future expenses such as education, vacations, and emergencies,†says the 26-year-old.
Creating a financial plan should be on everyone’s to-do list. Financial planning is not solely for the rich, nor should it be left up to your significant other. It is important for everyone—especially women—to develop a financial plan.