Wealth-building? At my age? I'd be happy just to get out of debt!

Unfortunately, that's the mind set of many women 40 years of age or older. As a group, we women are so focused in our younger years raising a family that we have difficulty visualizing the idea that someday, we actually may have enough time to travel.

And as that possibility gets closer with every year, we kick ourselves for not being more money-savvy in your younger years. But, it's not to late to get out of debt and start saving . . . for that perfect vacation . . . the trip cross country just to unwind . . . even for a well-deserved eventual retirement!

Yeah! Right! You respond. Have you looked at my checkbook lately? Enjoyment does seem to be part of my vocabulary for a while.

Start by following this simple tip. This hint isn't meant to be your entire education on handling money. But according to many money experts, it's one of the very most important. Therefore, it deserves special consideration.

So what is it? Living on 80 percent of your paycheck. This may be tough at first glance. But let me explain what you will do with that other 20 percent ....when you go to put this into practice, you'll discover it's really effortless.

The first 10 percent of your paycheck you're going to give away. Wow! That loud roar of protest nearly broke my eardrum. Didn't see that one coming, did you?

Indeed, the reasoning for this isn't purely financial either. First, just the act of giving a tenth of your income away is a sign of gratitude. Pick a charity, a special project, or an organization. It doesn't really matter as long as the money goes to a worthy cause - and you're the judge of that!

Take that other 10 percent that you're not living on and stash it away in a savings account of some type. Just don't touch it. No matter how many days until payday it might be.

Do this every payday. For those of you, like myself, who are self employed, do this with every payment you receive from others.

Psychologically speaking, the acts of giving and saving are wonderfully calming for the souls. Knowing that by giving away even a small amount of money to someone who could really use it is great feeling. And then knowing that should a real emergency occur that you have some money stashed away gives you peace of mind.

Before you dismiss this as total nonsense, think of how close that next vacation sounds. Now look at your checkbook balance. It's definitely worth a try.

I'll see you at the shore next year about this time!

If you want great information about being Financially Fit at 40 visit us today. i40Club is the number one online community of women who are 40 and fabulous.

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