ths 5
NEWS. proto Paul McGrath

STORE OWNER Kate Ross-Leblanc (loft) and manager Shelile Rodney were ali smiles during
the recent grand opening cf Aromaljoy at Lonsdale Quay in Nerth Vancouver.

Becoming a wealthy woman

Money management

Michael

a

DOLLAFS AND SENSE .

READ THE following money
management tips: Do you
think they are aimed at men,
women or both sexes?

Always keep a personal savings
account separate from your part-
ner’s account or ary joint accounts.
Establish your own credit rating and
atelationship with your bank man-
ager.

Never invest in a loved one's
business unless you take an active
role. Don’t put your money where
your brain's not welcome.

Decide whether you want to

work where traditionally you
haven't been accepted, or go around
the barrier by staring your own
business. Perhaps turn a hobby or
ethnic advantage into a business
opportunity.

Buy a home even if you’re sin-
gle. Pay for it as quickly as possible.
If you have a partner, make sure
your name is in the title.

Save money regularly but reward
yourself along the way by skipping
one month twice a year, Start with a
reserve to cover six months’ expens-
es, then build your investments.

Learn business math, especially
the power of compound interest.

Don’t place your trust blindly in
lawyers, accountants, brokers and
financial planners. Research, net-
work and learn to interview advisers
before you choose. Read the finan-
cial news, keep up with current
trends and join an investinent club.
Learn about mutual funds.
Remember it’s “buyer beware.”

Learn the basic tax concepis and
how to read a financial statement.

Volunteer and encourage volun-
teers in your family. You not only
contribute to the community but
also build a network of contacts,
develop your skills and interests and
open your eyes to new personal,
financial and business possibilities,

Avoid addictions to smoking,
drinking, junk food and credit cards.

Think carefully about whether

tips for women differ from thos. for men

you want to have children. Balance
the rewards and costs. Children
demand an investment of time and
money, and while they are the
source of continuous joy and learn-
ing, they have been known to cause
wrinkles.

“We have aimed these tips
specifically at women, and expect
traditionally oriented men will take
exception to at least some of them,”
said Susan Balnchard. She and
Henry Zimmer (using the pen name
Henry Ciminer) have just written
and published Becoming The
Wealthy Woman (Springback
Publishing, $13.95).

“twas married early and
divorced in my 20s. I discovered
women face specia! challenges
when working toward financial
security, I never believed the world
owed me a living so | created my
own opportunities.”

Blanchard has worked in busi-
ness. the financial industry and three
levels of government administra-
tion. Many of Blanchard’s money
tips apply equally to men; women
today have indeed come a long way
financially. Still, I agree with
Blanchard that many women don’t
deal with their money as effectively
as men do.

“But we work well together; he
does the money because I hate it and

See Tips page 48

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Member Canada Tax
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Sponsored
By:

Brian Lancaster received his
Honors in Business
Administration Degree from the
University of Western Ontario.
He is currently part of the team
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THE
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- Organizing your finances and estate planning in the current

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