While I do not always agree with The Plain Dealer’s Regina Brett columnist, her column of February 4th was worth printing out a cop as a future reference for the work I do with women and their money. The title of the column always catches my attention: sometimes good attention and sometimes not. This column “Every woman needs financial self defense…” was good attention.
Her references in the article in which she referred to Paulette Perch’s www.thebillfold.com included some interesting terms that I would like to share:
An F Off Fund (FOF)
IDB Fund (I Deserve Better)
Go To Hell Fund
It used to be called”Mad Money” by many of us.
No matter what you call it, it is money that gives you security, self confidence, and it is an absence of fear…It works the same way that self defense knowledge does. It is putting strength in reserve; rather than spending all of your energy, you work on building it. The same works with money: spend less, save more, and have positive money energy stored up for when you might need it:
* The loss of a job
*The loss of a significant other
* The time to leave a job or a significant other
*Major car or appliance repairs
*And so much more….
When I am talking money with women, it is simply an “Emergency fund” and, yes, let’s cheer on all those women who have one or are starting one right now with any amount of money!