Letter: Spring is great time to learn about finances

Sonya Sellmeyer

Spring is a busy time when it comes to women’s finances. Whether you’re booking a summer vacation, selecting the right day care or summer camp for your kids, or gearing up for a summer full of activities, women should also remember to have their finances and financial security in mind.

According to a recent Iowa Department of Insurance and Financial Services survey, only 50 percent of Iowa women believe their household finances are secure. In order to secure and gain financial freedom, educating oneself on your finances is the first step.

To gain control of your financial future you must first start by learning the basics of budgeting, saving, investing and estate planning. This can be done in many ways — from talking with a licensed professional, reading a book or surfing the web.

Once you read up on the financial basics, the next step is understanding where you stand. Review where your finances are by assessing income, debts, savings and assets — once you understand your financial footing, you can begin budgeting.

Learning to budget properly is key to setting yourself up for financial success. A strong budget should give you direction and a big picture of your finances — make sure your budget includes retirement savings, paying off debt and an emergency fund. Don’t forget if you need help budgeting you can contact a licensed financial professional or use a budgeting app or online calculator.

As we prepare for the busy months of summer, it’s a great time to read up and learn more about your finances to set yourself up for financial success, prosperity, and security in the future, and the Iowa Department of Insurance and Financial Services has you covered — the SmartHER Money program is equipped to help all individuals prepare for your future.

Heather Kriener,

Financial Literacy Director,

Iowa Department of Insurance and Financial Services,

Des Moines

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