Shaping your future

Today we are better educated, better paid and enjoy broader career opportunities than at any time in history.

It paves the way for women to embrace the option of building their wealth and lay firm foundations for financial independence.

Quick money medical

1. How do you feel about your financial future? Points

Very optimistic 10

Optimistic 5

Worried 0

2. You manage to save money

Every payday 10

When you can 5

Rarely 0

3. When it comes to repayments on your credit card, you

Pay the balance in full each month 10

Pay more than the minimum 5

Make only the minimum repayments or less 0

4. Your retirement savings are

On track 10

Something of a mystery but you tuck some money away 5

What retirement savings? 0

5. On the topic of investing (say in the share market)

You know exactly what to do 10

You have some idea of what to do 5

You have no idea where to start - or what to do 0

Let’s get started by measuring your financial wellbeing. Take this five-point quiz to test your money mojo.

Your score:

50 to 35 points: Congratulations, you are on your way to being a money wise woman! Stay on track with your sensible approach to money management and enjoy the rewards of a financially secure future.

35 to 15 points: Okay, you have mastered the basics, but with a little extra fine-tuning, you could put your finances in tip-top shape.

15 points or less: Warning! Your ‘leave-it-to-chance’ approach is a wealth hazard.

Chart a course

Achieving your financial goals is not as hard as you may think. All it takes is some planning and a healthy dose of commitment. Start out by drawing up a plan of what you want to achieve. Treat it like a road map that shows where you are heading as well as providing a benchmark for your achievements.

Start by dividing your goals into short, medium and long-term.

Short-term goals may include:

• Making extra repayments on your credit card

• Starting a savings plan

Medium-term goals may include:

• Paying off personal loans

• Buying a house or apartment

• Building a portfolio of investments

Long-term goals can include:

• Growing superannuation savings

• Paying off the mortgage

Adapted from www.citibank.com