THE AVERAGE WOMAN™
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How many women have lost
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fi 1nainncia1l c0risis so far:
Percentage of employed
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Percentage who have
money invested in
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have at least two credit of tension: did all my
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How many women earn
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stresses about most:
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Number of women in the Amount the guy would
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What the AW would give up if
she had to save more, in the
order she’d nix them:
1 Dinners out
2 Fast-food lunches
3 Coffee runs
4 Shoe shopping
5 Manicures
MONEY TALK Finance guru Michael B. Rubin on four terms women should know
CERTIFICATE OF DEPOSI T
“If you’re saving for a big purchase
and want the money to accrue interest and be untouchable, open
a CD account,” says Rubin, author
of Beyond Paycheck to Paycheck.
It has a locked-in interest rate for
a given length of time.
RO TH IRA
“If you open a retirement account
other than your 401(k), make it a
Roth IRA,” Rubin says. After you’re
59 and a half, you can take out the
money, plus any interest it accrues,
tax-free. You can see if your income
qualifies at tro weprice.com.
ANNUAL PERCENTAGE YIELD
“If your credit card statements baffle you, focus on the APY, not the annual percentage rate,” Rubin says.
Because it takes into account compounding interest, the APY is the
true interest rate you’ll be charged
if you don’t pay your bill on time.
FLEXIBLE SPENDING ACCOUN T
With an FSA, you set aside a portion of your salary to pay for certain expenses, whether they’re
medical, commuting, or child care,
Rubin says. This money isn’t subject to taxes, so you have more to
spend on these necessities.
CLOCK WISE FROM TOP RIGH T: HORACIO SALINAS/CHRIS BOALS AR TIS TS/ TRUNK ARCHIVE; MAS TERFILE; PHOTOLIBRAR Y
