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Helping women to manage money

April 27, 2010 7:32:41 AM PDT
Though still not on the same level as men, experts say the average salary of a woman increased 63 percent in the last decade. That translates into a lot of spending power and the need to make very important day-to-day decisions.

"The average person makes between 6 and 10 financial decisions a day. That's a lot of financial thinking," Alexa von Tobel said.

Much of the financial thinking is being done by women. Experts say 70 million women in the U.S. control 80 percent of household spending.

A growing number are turning to learnvest.com for help. It's a website that specifically guides women through life's financial maze.

After Alexa von Tobel graduated from college, she says she couldn't find good resources to help her with her own money matters and decided to start her own company.

"We simply want to say listen, if you can be on an elliptical machine reading a magazine, catching up with your mom with laundry running, you absolutely can tackle things like retirement, credit cards or credit score," she said.

She believes women are underserved when it comes to learning about managing money and says her team of financial planners provides women with the best tools possible to succeed.

"We have these great things called Learnvest checklists, which cover 35 financial life events from starting a new job, going to graduate school or god forbid going through a divorce," von Tobel said.

On a lighter note, but equally important, inside the daily newsletter you'll finds tips on planning your summer vacation and, a popular concern, how to throw a dinner party on a budget.

Alexa only spent 75 dollars on a recent party. She was able to make a hearty salad, main course and dessert. She used fruit, which was already in the home, for the centerpiece and dish towels for place mats.

When it comes to shopping, Alexa says be smart. Hit off-price retailers like Filene's, where you can find designer brands for less.

She says the point of all of this is stretching your dollar as far as you can, but with a fun and hip approach.

You will also find information on the website about planning a wedding on a budget, preparing for a baby, mortgages and IRA's.

Even though the site is geared towards women ages 18 to 50, everyone can learn something by logging on.

Just click here to visit learnvest.com.


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