It’s never too early (or too late!) to set yourself up for financial success. CEO & Founder of HerMoney, Personal Finance Expert, Jean Chatzky and our Host, CEO & Founder of TONE Networks, Gemma Toner candidly talk about money and everything you need to know.
Here are your TONE Takeaways from “Overcoming Your Fears: Let’s Talk Money,” to help you live the life you want to live today, while putting away enough to live the life you want tomorrow:
1. Make a budget, or “spending plan:”
- Know what’s coming in
- Know what’s going out
- And know where it is going
2. Avoid fighting over money in your relationships:
- Use the “yours, mine and ours” system for banking
- Communicate: nobody likes a surprise
- If necessary, involve a third party such as a financial advisor
3. When negotiating your salary, don’t be afraid to ask for more:
- Check the salary range for your position
- Keep track of positive feedback and accomplishments
- Practice asking the uncomfortable questions
4. Know the retirement savings benchmarks that will enable you to retire comfortably:
- By 30 - 1x salary
- By 40 - 2x salary
- By 50 - 6x salary
- By 60 - 8x salary
- Retirement - 10x salary
5. And, here are Jean’s top three tips to making personal finance a safe space for women:
- Track your money
- Talk about your money
- Automate saving your money
Helpful Resources from Jean Chatzky and HerMoney
- Money Type Quiz
- Jean Chatzky's Finance Fixx
- HerMoney Podcast with Jean Chatzky
- Pre-order Jean’s new book from Amazon, “How to Money: Your Ultimate Visual Guide to the Basics of Finance.” (Available April 10, 2022)
Other Helpful Resources
Researching Salary Ranges
Budgeting Resources
If you missed the event, you can watch the replay in our “In Case You Missed It” section. If you are not already a TONE member you can sign up here for a 2 week, no-commitment trial.And remember, YOU set the tone of your life.
TONE Talks are bi-monthly interactive coaching events taking place on the TONE Networks website. These events provide members with unparalleled access to executive coaches and experts covering a diverse spectrum of topics. Come prepared with your questions or catch it on the replay at your convenience.