Women are gathering to talk finances with friends and it’s helping them sock money away.
Women are meeting up to help each other get financially fit. Money Clubs, as they’re called, see friends get together and talk about saving cash, budgeting, investing, and spending. Not only does it help socially, but, as one group of five women showed, it works for their wallets.
Sandra Grahame and her four friends helped each other, as a group, knock out 50-thousand dollars and debt and grown their salaries by 100-thousand in a year’s time. They left it all on the table, sharing bank and credit card statements among other things,
Women have unique needs financially, according to experts, and these groups help women gain a foothold. For info on how to get into a money club, check out WIFE, the Women's Institute for Financial Education.
If you want to start a money club, here’s how:
·Find like-minded women in different situations.
·Just get started.
·Be consistent in meeting.
·Ask members “what keeps you up at night?”
·Celebrate all the little wins…they lead to bigger ones.
Source: Good Morning America