Welcome to another week of the Women’s Personal Finance Wednesdays roundup. I started this series after months of debate because I wasn’t certain I wanted to up the ante and commit to publishing three posts a week. However, now that I’ve started sharing these posts, I’m so glad I started.
There are so many fabulous women writing about personal finance online, and yet there is still a perception that women aren’t good with money, don’t care about money, or don’t understand it on a granular level beyond perhaps knowing how to coupon and score a good shopping deal. These roundups are my way of doing a small part to change that perception. There are no shortage of women online doing their part to make it clear that they DO understand money, and these posts are meant to amplify that fact.
The hardest part of this post every week always is narrowing it down to my favorites, because there is just so much good content out there. If you’re ever interested in what else I’m reading, I share quite a few other posts on Twitter (and that’s also where I read most of the content to begin with these days).
Our Women’s Personal Finance Facebook group also has a sharing thread on Fridays, and that’s the place to read all the blog posts written by members over the previous week. If you’re looking for more articles written by women, that’s a great place to continue reading (plus we have plenty of great discussions on finances the rest of the week as well!).
If you don’t have the time or inclination to go searching down myriad posts, though, I will be continuing this series every week to showcase some of the best of the new content I read. If you ever read a post you think I absolutely need to consider for this roundup, please let me know! I am always open to reading new blogs (and posts of blogs I do know, because I miss some).
Women’s Personal Finance Wednesdays – Week 80
1. Savings Accounts: Changes We’re Making Because ‘Rona and the Stimulus Check Free, Fun, Family
“First, this is not a just recession; it’s a pandemic–a world health crisis. The change in culture and economic pattern is not predictable because this has not happened before.”
I love how honest and transparent this post is. Diana is always open with her family’s situation with money, and it makes her very relatable. In a time where money suddenly looks different for all of us, I really appreciate being able to read others’ thoughts on what they’re doing for the short term future.
“I’m doubting if I’m strong enough for this. I’m trying not to crack but the pressure is building. There’s no bright side when the world is in shadow and we’re all feeling our way through darkness.
Smiling only makes me feel sadder, somehow.”
Getting through is enough. Oh, Elyssa, as always, your words are so powerful and so spot on. While I tend to be a practically optimistic person, life is just straight up hard right now. And it is very much okay to accept that it is hard right now. Optimism can come later. Getting through right now is enough.
3. How to Prepare for a Recession: Steps to Take Now One Frugal Girl
“It’s unclear what the long term implications of this pandemic will be. Now is the time to set aside the largest emergency fund possible. No matter how big it is, it may not be big enough.”
With stimulus checks in the bank already or soon to be there, having a plan is key. While I may be holding a little less tightly to our excess money right now, but I’m definitely working on building our cash buffer. The good news is, I’d already been doing that over the past months, but it could definitely be larger. We’re okay financially right now, but as she says here, things can change in an instant, or they can change four years down the line. Now is the time to be as prepared as possible – ready for the worst, but hoping still for the best.