Women And Money: Control Your Financial Destiny
Magazine Money

Women, Control Your Financial Destiny

Earl "Butch" Graves Jr., President & CEO, Black Enterprise

In order to fully strengthen your financial position, you must also learn to become a savvy, relentless negotiator. In salary negotiations, demand what you’re worth. When you make consumer purchases, never settle. For the African American women who represent the fastest-growing segment of entrepreneurs, ask for the big contract. Mothers: Manage your personal financial life with the same ferocity as you would fight for opportunities for your children. Never be complicit in giving anyone the upper hand by caving in to intimidation due to lack of confidence or information.

You simply can’t afford to be a passive observer when it comes to maximizing your dollars. In dealing with financial professionals, don’t let them use their knowledge and credentials to bully you into making decisions. Remember they work on your behalf and that you have the final word. It’s up to them to explain and justify their approach to managing your money. In the same manner that you keep up with your loved ones, take the same painstaking approach to detail in reviewing financial statements.

Every woman must take nothing for granted and map out a long-term plan. By applying sound financial principles, and understanding the great value in short-term sacrifice, you will be well on your way to achieving your ultimate life goals.