Money Clubs:
It's not just about hiding your money under your mattress anymore!

Gone are the days of letting the husband earn the family finances and then delegate them out - without the little woman knowing who is owed what and when.  Thanks to fair lending laws, gone are the days when you have to get your husband's permission to buy a car (which my mom did - she still tells that story with scorn in her voice).

Even if you have the good fortune of staying home to raise your family (as I do, since I am a full-time Mom and full-time business owner from home), sudden life changes demand that you be in touch with what is happening in your check book, your retirement accounts, your children's college funds, etc.

I have my grandmother to thank.  She was ahead of her time - way ahead.  She was born in 1920 and demanded being involved in the family "business" of running her household.  When my grandfather passed, she had a very good grip on her finances and her ability to borrow - which many of her friends could not say.

Several months ago a business associate of mine invited me to join her Money Club.  To be truthful, I was hesitant at first.  Getting together and talking about finances was not my idea of fun.  To my surprise, in addition to being very informative and reflective on MY PERSONAL money style, it has been a lot of fun!

Our group is called "WW&W" - that's short for "Women, Wealth & Wine."  When she mentioned what the last "W" stood for, I was hooked!!!

Our group is small, with only 6 women in attendance.  We have a Financial Advisor, a Realtor, a Mortgage Broker (that's me), an "Image" expert, a retired business owner (she owned a trucking company) and a SAHM (that's "Stay At Home Mom" for those who don't know).  We benefit listening to eachother's stories (the lady trucker, especially!!!) and have a lot of fun in the process.

Each session is based on a different theme.  Last month was the dreaded "B"-word: budgeting, this month is cutting expenses - yikes!  Very timely considering all we are reading in the news.  Each meeting ends with a little challenge - you decide what you are going to do over the course of the next month and come back to the group to report.

I have found my group to be helpful in many ways.  Besides benefiting from others' experiences, I am considered the "lending expert" and have been able to field questions that other members are afraid, or simply embarrassed, to ask anyone else.  Our Realtor can remark on market trends.  Our "Image" expert talks on branding yourself and your business.  Our SAHM reflects on her ability to teach and raise financially responsible children and challenges the rest of us to do the same.

To get a start and a better understanding on your money style, take this quiz!

If you find that you are lacking in contact from other women, consider getting a Money Club together.  How often you meet is up to you and your fellow group members.  But, you simply can't go wrong by empowering yourself and other women (professional or not) to get a grip - a grip on your finances, that is!

Maryellen Garasky
Mortgage Broker
KMG Mortgage Group
(208) 664-3600
(509) 638-3455
www.kmgmortgagegroup.com