MoneyCoach_BeingLXME
@MoneyCoach_BeingLXME
Member since January 05, 2024 with 3 connections, 0 posts, and 4 communities. See all posts and communities by @MoneyCoach_BeingLXME.
M
@MoneyCoach_BeingLXME
Member since January 05, 2024 with 3 connections, 0 posts, and 4 communities. See all posts and communities by @MoneyCoach_BeingLXME.
How can technology and financial tools assist in tracking progress towards financial goals?
Hey! LXME is a one stop solution and a secure money platform for women where you can use all financial tools. You can learn, plan, save, invest, and borrow. If you want to learn about money management and personal financez then there are lots of blogs, live sessions and many more content that you can access. Not only this, you can use super easy calculators to plan for your goals and start your investment journey in less than 5 mins in expert curated Mutual Fund portfolio. Hope this helps! If you have any further questions do let us know we'll be happy to answer:)
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Given the unique challenges we face as women's in the workplace, what advice do you have for building a strong financial foundation and overcoming potential obstacles?
Hey! - As we women we may face gender pay gap that’s why it’s important for women to adequately plan, save and invest for their goals. - You can assess the different goal amount required basis that you can invest for your various goals such as child education, retirement, buying house, buying car, etc. - You can also check out LXME’s goal calculator to calculate the amount you need to invest towards your goals. https://lxme.onelink.me/95JV/LXMExCoto Hope this helps!! If you have any further questions do let us know we’ll be happy to answer:)
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How can I address the gender pay gap within my financial planning and wealth-building strategies?
Hey! - As we women we face gender pay gap that’s why it’s important for women to adequately plan, save and invest for their goals. - You can assess the different goal amount required basis that you can invest for your various goals such as child education, retirement, buying house, buying car, etc. - You can also check out LXME’s goal calculator to calculate the amount you need to invest towards your goals. Hope this helps!! If you have any further questions do let us know we’ll be happy to answer:) https://lxme.onelink.me/95JV/LXMExCoto
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Considering potential life changes, like starting a family or caregiving responsibilities, how should I adjust my financial plan to accommodate these factors?
Hey! As a woman, we carry lots of responsibilities so, every woman should plan for 3 critical goals: Emergency fund, retirement fund and child education fund. - Emergency fund is a necessity to manage any sudden or unexpected expenses such as job loss, unplanned expenses arising, etc. You should create an emergency fund so that in the future you don’t have to pressurize your savings. It is equivalent to 6-8 months of your monthly expenses. - Retirement Fund is necessity especially for women because women lives longer than men, they face gender pay gap, need to take career breaks for taking care of family or starting a family. So, it is important to have your retirement plan in place, so that you are at least financially relaxed during retirement. - Child education fund is important because as a parent we aspire that our children should have brighter future and you need to plan and invest as education costs are rising. - You can plan & invest for all your goals through LXME portfolios.
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How can individuals align their financial goals with their overall life objectives?
Hey! Financial Goal setting is a great way to align your dreams and plan better. you can categorize your goals into 3 categories: 1. Ultra Short Term Goal (less than 1 year) 2. Short Term Goal(1-3 years) 3. Long Term Goal(3+ years) Based on your goals, start investing and remember to diversify money across equity, debt and gold.
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What role does emergency savings play in achieving financial stability and goals?
Hey! An emergency fund is equivalent to 6-8 months of your monthly expenses and it is the sum of money that you put aside for any contingencies falling upon you. You can create an emergency account by investing in securities that are highly liquid while allowing your money to grow. The ideal way of investing in an emergency fund is by keeping 10% of the amount required in a bank account which provides a high-interest rate. The remaining 90% can be invested in instruments like ultra short term debt mutual funds, short-term fixed deposits, recurring deposits, etc. Visit the MyMoney tab to check out the Goal Calculator to know how much you need to invest and then explore LXME Gulluck and Ultra-short term portfolio. Hope this helps! https://lxme.onelink.me/95JV/LXMExCoto
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What strategies can be employed to stay motivated while working towards financial goals?
Hey! Being a part of community of like minded women, like BeingLXME and sharing your experiences, wins, learning from other women will help you keep track of your goals. secondly, start small and gradually increase your savings and investments towards your goal as you get comfortable managing your money. This will help you reach your goals faster. Keep saving& investing and enjoy the magic of compounding over the long term period!
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Lxmecommunity posted 349 days ago
How are your resolutions for 2024 going so far? Don’t worry! We got you. We’ll help you set your financial goals and you can ask us anything. Join us on this live Q&A.
Hi Everyone, Good Evening!! Feel free to post all your Qs in this thread and I'll guide you!
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