One example is a blog post written by Shannon of Financially Blonde. According to Shannon, a good credit score and a savings rate of at least 15 percent are the biggest indicators of a financially sexy person.
When it comes to the qualities it takes to become “financially sexy,” several personal finance bloggers have already weighed in.
J. Money from Budgets are Sexy wrote a post on the topic as well, citing good credit, a solid savings rate above 15 percent, an emergency fund, and very little debt as the top qualities of a super sexy, fiscally responsible person.
But I wanted to take things a few steps further. Being financially sexy is great and all, but why not become financially sexier?
10 Ways to Become Financially Sexier
In my eyes, financially sexier individuals are the ones who shoot for the stars when it comes to their finances. Not only do they take care of their credit and financial well-being, but they aim to retire early, fund exciting financial goals like paying for college or building a business, and even become filthy rich.
Financially sexier people don’t just have a solid job in an in-demand industry; they actually own the company. And instead of saving just 15 percent of their income, they might save 30 percent, 40 percent, or even 50 percent, and live on the rest.
Since financially sexier people come in all shapes and sizes, I reached out to several money bloggers and financial planners to get their take on the best ways to boost your appearance when it comes to looks and money.
Want to become financially sexier? Here are some ways to make it happen:
#1 Don’t Skimp On Life Insurance
“Sexy is purchasing life insurance to make sure your loved ones are taken care of in case you pass away,” says Joseph Carbone of Focus Planning Group. “Sexier, however, is purchasing 10 to 15 times your salary to protect them.”
According to a recent survey from Bankrate, 42 percent of families don’t have life insurance at all. Plus, nearly half of respondents who did carry life insurance reported having $100,000 or less in coverage. For most people, that is not nearly enough.
By buying enough life insurance to take care of your family in the event of your death, you’re covering your bases and helping your family sleep better at night. Can you think of anything sexier than that?
#2 Use Credit Wisely…and Earn Credit Card Rewards
“Sexy is paying off all your high-interest credit card debt and making sure your bills are paid in full every month,” says Andrew McFadden, CFP and Founder of Panoramic Financial Advice. After all, it’s never sexy to carry a balance on your credit card, and it’s not sexy at all to pay interest on your purchases.
“Even sexier, though, is paying your balance every month and maximizing the rewards of the credit card to furnish one of life’s pleasures,” says McFadden.
Using credit wisely …read more
Read more here: 10 ways to become financially sexier
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