![]() ![]() The More the Wife Earns, the Harder She Works at Home On the other hand, male breadwinners are twice as likely to not do any domestic tasks at all. This is the equivalent of a full workday that she spends cooking, cleaning and making sure that the kids have everything they need. The average female breadwinner spends an extra 7.5 hours each week on household responsibilities on top of her already demanding job. New research by UCL Institute of Epidemiology and Health Care (opens in new tab) found that while more and more women are entering the workforce, imbalances in responsibility for household duties remain - even when women are the breadwinners for the family. Notwithstanding that they are earning a substantial income, these women still manage to run the household, including, but not limited to, sourcing the children’s providers, arranging for childcare, making playdates, attending school functions and making sure there is a family meal and bedtime routine. According to Zeiderman, many of these women are high-powered executives who not only support their family but also care for the children. Lisa Zeiderman, a divorce attorney and managing partner for Miller Zeiderman LLP, often represents the breadwinner female spouse. “This can be an especially tough pill to swallow for a woman whose husband had an affair while she spent long hours at the office working to provide for him.” Female Breadwinners Still Do Most of the Housework In addition, Shepis warns that a divorce for women who make more than their husbands can be especially painful, as the law dictates that she pay spousal support to him if her earnings are significantly greater. But rarely do finances dictate matters of the heart." “If you are financially dependent on your spouse, you probably should not cheat on them. “It's not exactly logical," according to Alexandra Shepis, a Certified Divorce Financial Analyst® with Francis Financial who provides financial advice to many breadwinning women. Try to limit applications as needed and shop around with prequalification tools that don't hurt your credit score.The Divorce Gap: Unique Retirement Issues for Women Over 50 Inquiries temporarily reduce your credit score by roughly five points, though they rebound within a few months. Every time you submit an application for credit, whether it's a credit card or loan, and regardless if you're approved or denied, an inquiry appears on your credit report. ![]() To calculate your utilization rate, divide your total credit card balance by your total credit limit. While you should always make at least your minimum payment, we recommend paying your bill in full every month to reduce your utilization rate, which is the percentage of your total credit limit you're using. Consider setting up autopay to ensure on-time payments, or opt for reminders through your card issuer or mobile calendar. Payment history is the most important factor in your credit score, so it's key to always pay on time. In order to achieve a fair, good or excellent credit score, follow the credit-building tips below. Perhaps you've missed payments or carried a balance past your bill's due date. ![]() If you have bad credit, take some time to review your credit score and identify the cause. Card issuers look at more factors than just your credit score, including income and monthly housing payments. Take note that even if your credit score falls within the bad range, that is not a guarantee you'll be approved for a credit card requiring bad credit. While a secured card, such as the Discover it® Secured Credit Card or the C apital One Platinum Secured Credit Card, can help you rebuild credit, you're required to make a security deposit - typically $200 - in order to receive an equivalent line of credit. For example, one of CNBC Select's best credit cards for bad credit, the OpenSky® Secured Visa® Credit Card, has a $35 annual fee though there are no annual fee options.īad credit limits which credit cards you can qualify for the options you have will be primarily secured cards. If you're approved for credit, odds are you'll receive less favorable terms, such as high interest rates or annual fees, compared to applicants with good credit. And if you want to earn rewards or receive luxury travel perks, it'll be near impossible to find a card that accepts bad credit. If you want to get out of debt with a balance transfer card, such as the Discover it® Balance Transfer, you'll need good or excellent credit. ![]() A bad credit score can reduce your approval chances for credit cards and loans, making it difficult to accomplish many goals. ![]()
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