Cosmopolitan June 2018 - Page 112

cash Why You Need an F-You Fund Because it’s wiser to be prepared for the unexpected than be stuck in a bad situation because you got no moolah. By Jessica Goodman O 112 COSMOPOLITAN JUNE 2018 ‘SHOULD I KEEP MY FUND A SECRET?’ Nope. Telling people about your pot could make it grow. Speaking about money normalises it, and the more comfy you are with the topic, the more you’ll be encouraged to save. “We’re taught it’s tacky and unattractive to talk about finances,” says Sallie Krawcheck, “but having your own back is empowering.” FOR MORE GREAT STORIES, VISIT COSMO.IN ne of the top stress sources for women around the world: money. And as per several financial studies conducted around the world—the lack of said money. An ICICI Lombard study found that Indian millennials, on average, spend 69% of their salaries every month. And saving is not a priority for most! Worrying about this sitch is warranted, says Sallie Krawcheck, CEO and Founder of Ellevest, a digital investment platform for women. Having no cash cache doesn’t just threaten your retirement, it can put your well-being at risk right now. Let’s say, for example, that your boss is a monster, and work has become unbearable, affecting your mental health and relationships, or that your mate is borderline emotionally abusive and you’re desperate to move out and get your own place. Without a financial cushion, you may feel stuck in these scenarios. That’s why you need an F-you fund, says Sallie. You know: the smart woman’s fallback stash (a twist on the