E-Quality Matters

Devoloping Your Rainy Day Fund: A Path to Economic Security

Rebecca Matthes, Guest Blogger

How long could you survive financially if you lost your job?  Faced unexpected medical bills?  Needed to make reservations for a last-minute flight to attend a funeral?  These are questions we don’t like to think about but really need to.  An article on Kiplinger.com, written by Erin Burt, brings up these scary scenarios and discusses how one can get started to save for a “rainy day”. 

Here’s an eye opener, according to the Bureau of Economic Analysis, our country’s personal savings rate dipped into negative territory in 2005.  That hasn’t been seen since the infamous Great Depression.  That’s not so good is it?  Well, there are several ways individuals can take control and start saving their money.  Ms. Burt tells us how. 

It’s recommend that you should have between three to six months worth of expenses saved in order to help out when an emergency arises.  How to go about that includes paying yourself first, plugging spending leaks and saving that “extra” money you get from work bonuses, raises and tax refunds.  Where to stash your cash is also important.  You want your money to be accessible, safe and profitable.

If you don’t feel motivated to start saving maybe this can be a motivator.  Erin Burt talks about a professor she once had who suggested looking at savings as a “go-to-hell fund”.  For example, rather than feeling like you have to keep a job because it pays well, you can simply quit and tell your employer where to go.  Knowing that you can have that kind of financial freedom and control would be nice, right?

This article is filled with helpful information that we should all think about.  Being prepared is just another important and responsible thing we can do for ourselves, and our families.

Antoher great place to check out clever ways to save money and help with budgeting is Mom’s Budget

Debt Management: A Path to Economic Security

Rebecca Matthes, Guest Blogger

Did you know that the NFCC projected that 800,000 people in the U.S. would end up filing for bankruptcy in 2007?  That’s right, 800,000 people.  An article found on Smartmoney.com, written in October 2007, discusses the unfortunate problem of drowning in debt. It is noted that every year the National Foundation for Credit Counseling (NFCC) assists almost two million households nationwide. 

Several easy solutions to go about getting a handle on the problem are mentioned in the article such as getting a loan from a family member, borrowing from your 401(k), or consolidating your debt on a low-interest rate credit card or home equity loan.  Another thought is to cut your expenses.  In other words, track your expenses and see what you can eliminate.  Some may find this route quicker and all around better than the first three alternatives. 

But if one’s debt is of epic proportions, seeking out a debt counselor may be the best fit.  It’s recommended to seek out a non-profit firm since you’ve already spent too much.  Do your homework.  Find out about the agency’s policies, fees and services provided.  Get these things in writing and check out to see if the agency belongs to any professional groups like the Better Business Bureau or the NFCC.  Ask these professional groups about how the agency is audited and if your money will be protected.   

Once you’ve decided on a service that can be trusted, credit counselors will then help build a program that’s right for you, such as a One-Pay Plan, while also helping you with the those scary calls from creditors.  As soon as you begin paying off old debt, it is recommended that you begin to set up a budget.  Yep!  There’s that word again.  Credit counselors can help with you with that too.

Sticking to a Budget: A Path to Economic Security

Rebecca Matthes, Guest Blogger

Anyone who has taken the time to write out a budget knows how difficult it can be to stick with it.  Although things look good on paper, implementing your plan doesn’t always work out.  Have you ever asked how someone can really stay focused and stay on track?  Women’s Finance points out 10 problem areas in your budget that could help explain why it’s so difficult to stick to the game plan.   For example, take “fixed” expenses like rent or mortgage.  These expenses are only fixed because you pay them every month.  The amount you pay, however, is not fixed thereby modifying your budget from time to time. Or consider shopping for clothing.  That’s a tough one because this can sometimes be a spontaneous event.   But by planning ahead, making a list of what you need and sticking to that list, you won’t come out of the experience wondering how you’re going to pay the utility bill.  Yikes!  Something else that can help too is remembering what you already have in your closet.  You may decide after some thought that you don’t really need another blouse or pair of jeans.  Another problem area mentioned is transportation.  It’s recommended that you take a hard look at your transportation costs and try to set up a budget for them.  Then look at other ways that will help you stay in line with that budget like taking good care of your car to reduce any unwanted expenses and riding your bike when traveling short distances. 

Another interesting point of view about how to stick with your game plan is based around three major causes of budget failure.  According to Jeremy Vohwinkle, a financial planner and retirement planning specialist, having a negative attitude, lack of motivation and unrealistic expectations are the biggest reasons people don’t succeed.  Having a positive attitude to budgeting is important to your success.  Looking at a budget as a way of achieving your dreams and goals while holding out on spending all your money at once will prove to be best in the long run.  And by honestly believing that can be used as a motivator.  Be as realistic as possible and try not to expect miracles.  Understand that if you stick out your budget you will eventually come out ahead.

Budget, Budget, Budget: A Path to Economic Security

Rebecca Matthes, Guest Blogger

So, you just graduated from college and are now living on your own for the first time. Or maybe you recently went through a divorce or broke up with your significant other. Or maybe you just had a baby. There are lots of things that happen to us over our lifetime that we tend to get excited or stressed about. The amount of money we have sometimes adds to that excitement or stress. Making some kind of budget is an important, and responsible, action that will help you feel more in control of your life.

Yes, a budget! Although a seemingly boring and tedious task, knowing how much you make and how much of that you can and should spend on a weekly, monthly or quarterly basis is information that will assist you to plan accordingly with life’s everyday expenditures – big & small. What? You say you don’t have one or need to make some changes to your current one? Then maybe you’ll benefit from advice on CNNMoney.com. Although advice on the topic of budgeting is abundant, this website has come up with Money 101 Lessons. In Lesson 2, Making a budget, listed are 10 top things to know when creating your financial plan. Some of those include:

· Budgets are a necessary evil

· Don’t drive yourself nuts

· Spending beyond your limits is dangerous

· Beware of luxuries dressed up as necessities

 
Another resource that may be of help is using a budget worksheet. There are plenty of versions to choose from on the web. There’s one from Fidelity Investments that you can use. It will help give an overall view and understanding of where your money needs to go and will give you a better idea as to where you stand financially.

Once you create a budget, the next step is to stick to it.  Let's talk about that next time.  For now get calculating!

Maine Legislature to Women Workers: Don't Get Sick!

Sigh. As you may have heard, earlier this week, the Maine Legislature failed to take a stand for the health of Maine families. Both the House and Senate refused to adopt the Labor Committee’s recommendation to enact the paid sick days bill, L.D. 1454, ‘An Act to Care for Working Families.’

I'm appalled.

People’s health is put in jeopardy when they can’t take time off from work to recover from illness. Right now, nearly half of all full-time, private sector workers lack paid sick days. Three out of four low-wage workers are denied a single paid sick day, as are 86% of employees in some of Maine’s most important industries – food and public accommodation. And of course women suffer most - first because we're more likely to be working in a low-wage job, and second because we're more likely to need to take time to care for a sick child.

The debate on the floor of the House can be summarized this way "You're on your own." While many proponents stood up to demand this basic protection, others said the legislature should not intervene just people's jobs and health are at risk. And then there were the wild accusations that workers would 'abuse' this protection by going to Bermuda (that's a quote) or taking off five days for a hangover. For snapshots of the priceless floor debate, check out the MPBN story here: http://www.mpbn.net/radio/mainenews/080408leave.htm

In fact, there IS abuse happening right now. That abuse is when someone is fired for getting the flu.

Fortunately, Maine people have traditionally taken a very different perspective than the one the Legislature expressed on Monday. We know that we’re all in it together and that the state economy works best when everyone has a fair shot. New workplace standards become necessary when the public’s values are out of step with how workplaces operate. That's why we have family medical leave, employment leave for victims of violence, minimum wage standards, and many many more protections that most people take for granted - that is, until they are in crisis or are struggling to get by.

Now, it's time for paid sick days.

At the Maine Women's Lobby, we believe that Maine and the United States will ultimately be on the right side of history, joining the 153 nations around the world that provide paid sick leave, including every one of the top ten most economically competitive nations in the world.

But not this year.

Getting Poorer

There are moments when ideas, concepts, or stark reality hits me like a ton of bricks. I guess this could also be referred to as the proverbial light bulb or the "aha" moments that bring clarity to life. But when it is bad news, I think it feels more like a ton of bricks.

We've launched our economic security initiative and the goal is to reduce the incidence of asset poverty amongst women and girls. Asset poverty is a pretty technical, and ugly, term -- but it refers to household's inability to access wealth resources that sufficiently provide for basic needs over three months. Its a good term to describe how so many Mainer's live -- not quite in poverty, but ultimately vulnerable to loss of income because they don't have the assets, or wealth, that leads to increased economic security, or provides a buffer in times of hard ship. Households lacking sufficient assets are forced to live paycheck to paycheck and face economic hardship when changes in income occur.

Part of the driving force is behind the initiative is that, according to the most recent census, poverty in Maine is actually increasing. This is astonishing because it is decreasing almost every where else in the country. But not in Maine.

So here's the other bad news. Most families hold the majority of their assets in their homes. So while the the housing market crashes down around us, there are two dynamics at play. Many folks are losing their assets when they lose there homes. For the rest of us, when we lose the value in our homes, we are actually getting poorer.

This is bad news for a state that is already seeing increases in poverty.

Fire and Brimstone Scenario

I got to thinking about Lael's post and tried a couple of times to post comments but I've got too much to say, AND the beauty of owning this blog is that I can create my own posts! So this is really in response to Lael and best to read her post first.

Lael asks a fun question -- what happens if we don't address this issue? I think this scenario is worth investigating because, in general, scenarios are an interesting way to explore the importance and the ripple effect of any one issue.

My scenario plays out a little like a scene from Witches of Eastwick -- a film I love... the sexy slimy devil is foiled by the strength and passion of three big haired women. It's definitely a role I can see myself playing (the big haired part). Sigh... I digress...

In the scene, the women realize that they are all candidates for Jack's affections and they begin turning on each other through some "back handed" aggression (Ha! I crack myself up... they are actually playing tennis in the scene). Suddenly, the sky cracks open. Hail the size of golf balls crashes down. Thunder clashes and lightening strikes.

It's a great metaphor for the underlying, almost spiritual, value created when women are working together. Women helping other women is not simply about making progress -- helping other women get ahead, changing behaviors by modeling confidence in women's work and women's leadership,  mentoring young women and helping them step into their full potential. 

These are all very important actions that will change the role of women in society. But we must also look at the cancerous energy created when women work against each other. This not only curtails positive energy, it erodes a progressive zeitgeist. We begin buying into negative propaganda, distrust flourishes, we stop thanking each other, holding doors, cheering each other on. We stop thinking the world can be a better place; we stop trying to make the world a better place. We begin looking out for our self-interests; we let greed be our motivation.

Women helping women is the cornerstone of our social fabric. It's more than just actions; it's the energy force that fuels progress and our faith in humanity. We have to be vigilant in keeping this energy force positive. Because women not helping other women also creates energy -- but the kind that destroys rather than creates.

The Underbelly of Women's Culture

Two times this week I have facilitated a dialogue with women leaders on the topic of women working with other women. Specifically, we examined why it can be so difficult. Needless to say, I’m exhausted. However, what I’ve observed in both groups has me really intrigued and has given me the inspiration to keep this topic on the table with the women with which I interact. Despite my sweaty palms.

This is a tough topic. Most research on the matter concludes that is exactly why it is among the lists of “undiscussables” with women. From my own experience, it can bring up issues of shame, embarrassment, defensiveness, and most certainly denial. I’ve found this to be true for myself and most recently, I have observed this in other women engaging in the topic. What it requires is women to look at the “dirty underbelly” of female culture. There is an increasing amount of research on the topic of why women struggle to work with one another. The findings typically attribute it to three dynamics: how we are encultured as girls to deal with anger and conflict, the fact that we are often pitted against each other in the media and the challenges we face as we aspire to be leaders within a society that traditionally honors and rewards the masculine.

So sure, there are a lot of good reasons this is happening. And certainly, this is a really hard issue to explore as a group of women. But here is my concern: what if we don’t? What are the consequences for us as women if we don’t discuss this issue and begin to take ownership of our collective dynamics and perceptions? What then? My fear: more of the same. In fact, the research out there comes to the same conclusion: until women rise up address this within our own culture of women, we will find ourselves stuck and divided. More of the same.

From my experiences this week, I’m getting a bit clearer on the rub. What I’m noticing is when women don’t relate to the statistics and the stories that would paint this picture of “internalized sexism” – either because of their experiences or because of their own resistance to claim a rather unattractive issue – they tend to vehemently push away the topic as if it was a hot potato. Which it is. The problem is, who will catch it? And ironically, isn’t the very notion of “passing the potato” to another woman discounting the many, many voices of women who claim this issue is true and alive to them? Isn’t that in itself an act of judging and differentiating ourselves from other women?

And then there is the whole Law of Attraction thing… If we begin to focus on this topic as women and talk about it more, won’t that “draw it in” to us? So, in effect, we will be creating more of what we don’t want: divisiveness, disagreement, and conflict among women?

So what’s a woman to do? Simple, the research concludes: RISE UP and DO SOMETHING!!!! The bottom line, is that we need more women winning, than losing. We need to see the connections between our successes and our losses and resist the urge to just use our own perceptions and experiences to drive our actions (or inactions). We need to wrap our minds around the idea that when we find fault with another woman – or another woman does – the notion is reinforced that women are somehow faulty. And that includes you, whether you “deserve it” or not. So the invitation is to turn the tide – to somehow make it fashionable to be good to each other (which flies in the face of the current cultural mindset).

Specifically, here is what we can each do:
Become less judgmental about other women
Find common ground – we are more similar than different, so focus on that
Don’t allow the media, or anybody else for that matter, to define who you are.
Support women’s organizations with your involvement and/or your checkbook.
Mentor a younger woman–become an ally for another woman and support her success.

Be an activist in ways that engages dialogue, not debate: invite curiosity, not judgment.

So what do you think? Let’s talk about this. And I’d ask you again: what are the consequences if we don’t? Isn’t it time?

A Movie Review on Arranged Marraige

Maine Women's Fund is proud to sponsor the Maine Jewish Film Festival. We asked board member and leader within the New Girls Network, Lindsay Cadwallader, to review "Arranged," a film about arranged marriages presented in the Maine Jewish Film Festival. We hope you'll attend the screening of the film and a special conversation with the woman who commissioned the film on Sunday after the film at 1:30 PM. Here's what Lindsay had to say.

Arranged is an interesting, sweet movie about two young women; one Muslim and one Orthodox Jewish-- whose families are trying to arrange marriages for them. The movie feels like a documentary. The characters and their families are real. The friendship between the two women is the type of friendship that one would expect to see after a summer at the Seeds of Peace camp. The women are both teachers at a school and both find comfort in each other because both of them must deal with the ignorance of their principal who does not understand their traditional, deeply-held beliefs. The movie does a good job of examining arranged marriages from a modern, post-feminist lens and at the same time allows the viewer to see the value in it. I enjoyed it immensely.

Help Save Domestic Violence Services

When I moved to Maine, I was amazed that 50% of all homicides are related to domestic violence. If you're reading the paper, you'll know that this year was a particularly devastating year with increased violence and increased deaths.

Sadly, despite this influx, the services that help women remove themselves and their families from violent situations is in jeopardy. This in from our friends at Maine Coalition to end Domestic Violence, detailing ways you can help save these critical services. It's urgent that we take action immediately.

Call the toll free helpline: 1-866-834-HELP

Preserve Funding which supports of Victims of Domestic and Sexual Violence!

Thank you to everyone who has responded in opposition to the proposed cuts to services for victims of Domestic and Sexual Violence; unfortunately these services are still in jeopardy! Proposed State and Federal cuts to Domestic Violence and Sexual Assault services continue to be under threat! Wednesday, March 5th’s announcement of the change package by Governor Baldacci continues to threaten services across the state. Instead of salvaging victim and family services; the package drastically cuts funding to victim services.

With your help, we can send a strong message to the Maine State House that the proposed funding cuts to Domestic Violence and Sexual Assault services is NOT acceptable. We look to you, the citizens of Maine, to send a clear message to Maine’s elected officials stating that these essential services must be saved!

State and federal funding have made it possible to save countless lives by providing safety planning and support services for victims. The number of individuals served grows as people in our community who have experienced domestic violence reach out to their local domestic violence programs for support and safety services.

Yet, funding cuts in the FY08 state and federal budgets have already hampered the ability of domestic violence programs to respond to victims, and the Governor’s Supplemental Budget, coupled with President Bush’s FY09 Budget, propose funding cuts that could sound the death knell for these vital services throughout Maine. With nowhere to turn, families will continue to live in chronic danger and costly crimes will continue to occur.

It is hard to say how many more murders would have occurred in Maine but for the emergency services offered by domestic violence programs. However, we do know that for the first time in 30 years there will be no other place in Maine for abused women and their children to turn if these programs are forced to close.

Take Action:

Please send a message to your elected officials that these vital, life or death services Must be Saved!

Desktop Activism:

Please call your local delegation to tell them you don’t support these cuts and ask that they restore Domestic Violence and Sexual Assault funding. Your message to legislators asking them, on behalf of victims of domestic violence and their children, to support the full restoration of the proposed cuts to domestic violence victim services programs in the Governor’s Supplemental Budget, will tell our elected officials that Maine citizens will not stand idly by and allow these cuts to happen.

- It’s easy to find your House and Senate Representative; follow this link: http://janus.state.me.us/house/townlist.htm to search by your town. To then call and leave a message for a member of the House call 800-423-2900 or 287-1400; and to leave a message for a member of the Senate call 800-423-6900 or 287-1540.

- Also consider sending your delegation an email, again follow the link: http://janus.state.me.us/house/townlist.htm to access their email addresses.

- If you have not yet signed the Maine Can Do Better petition, please do so by navigating to: www.MaineCanDoBetter.org/takeaction.html

Take a Stand in Person: We need your presence at the State House!

Join us for a rally at the State House Hall of Flags, Wednesday, March12th, from 10:00 a.m. to 12:30 p.m. to bring a united message to Governor Baldacci and the Legislature that these essential funds can not be cut. We will have posters to carry and stickers for everyone to wear. Throughout the day the joint standing committees of Appropriations & Financial Affairs and Health & Human Services will be hearing testimony from organizations and individuals opposing the proposed budget cuts.

Carpooling and possibly busses to the State House will be available to shuttle folks from designated areas across the state to Augusta and back. If you would like a ride, contact your local Domestic Violence Project or notify Gretchen at: gretchen@mcedv.org for ride information!

Please also send this request on to friends, family members, co-workers, and clubs asking that they too reach out to our legislature – Thanks!

With this concerted citizen action, domestic violence programs throughout Maine will continue to help victims and their children find safety and security and build self-sufficient, violence-free lives - their universal and fundamental human right.

For more information about Domestic Violence services in Maine, to learn how else to get involved, or for any additional talking points, please call Gretchen at 941.1194, ext. 15 or email at: gretchen@mcedv.org.

For more information about Sexual Assault services in Maine, to learn how else to get involved, or for any additional talking points, please call Elizabeth Ward Saxl at 626-0034 or email at: info@mecasa.org.

Log on to www.mcedv.org to reach your local domestic violence program and to www.mecasa.org to reach your local sexual assault center.

Our mission is to create and encourage a social, political, and economic environment in which domestic violence no longer exists, and to ensure that battered women are supported and that batterers are held accountable. MCEDV mobilizes and coordinates community action through a statewide network of domestic violence projects. Through these partnerships, we focus our resources on public policy, education, and systems advocacy.
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