P.U.R.S.E.S.

Most women, if not every woman, are in possession of one or more purses. No matter where you go, if there are women around, chances are you will see many varieties of purses. Styles, colors and designer names are normally a reflection of the lady carrying the purse. Some women prefer subtle classic styles, while others go for a more flamboyant look.

Purses have been around for thousands of years. Their initial purpose was to carry money. Over the years, purses have evolved into everything from a fashion statement to a functional miniature suitcase. When choosing a purse, most women initially are drawn to how the purse looks on the outside. Normally, when a lady is scanning hundreds of purses in a department store, certain purses jump out and capture her attention. An immediate bond is formed between the purse and the woman, as if it has called out to her by name. She cannot imagine leaving this newfound friend behind.

For some, the exterior of the purse is all that matters. How they will be perceived when carrying the purse is of the utmost importance to them. Does it have the right designer name, is it the latest version, will the purse "pop" with the outfit it is intended to accessorize? The woman envisions herself walking into a party carrying the prize in her hand.

For others, functionality is critical when choosing a purse. These women immediately look inside to evaluate roominess, numbers of compartments, accessibility for a cell phone, keys or lipstick. Will it accommodate a baby bottle and diaper, therefore doubling as a diaper bag?

Whatever the reason for selecting a particular purse, one thing is certain: it is a very personal decision. Whether the purse was chosen for its appearance, functionality or a combination of the two, a purse plays an important and valuable role in the life of a woman.

In addition, a purse makes a woman feel secure in a lot of ways. Before leaving home, most women open their purses to make sure they have everything they need inside. A woman's checklist normally consists of things such as money, credit cards, glasses, lipstick and cell phone. Having these items safely tucked away and by her side can give her a sense of security. She knows she has all of the essential items she may need at any given time and can get through almost any situation with these necessities.

From that perspective, let's examine the acronym P.U.R.S.E.S. When related to financial issues, a woman should have a personal financial plan that consists of all the items needed to carry her though any of life's circumstances. A good financial plan will result in a woman feeling safe, secure and confident.

Purpose Based Planning

Women are notorious for planning things. We spend untold hours, days, weeks and sometimes even months planning for everything from our daily tasks and schedules to various special occasions and events. Our planning revolves around a purpose, an intended or desired result. Just think about all of the different types of things a woman plans for during her lifetime.

We go to great lengths to plan our outfit for an upcoming special occasion. We spend hours upon hours shopping, maneuvering in and out of stores, trying on numerous articles of clothing. Then we look for the perfect pieces of jewelry and try on every make and model of shoes. And, of course, we must seek out that special pocketbook that will complete a perfectly coordinated outfit. From our teenage years, preparing to attend the prom, to deciding what we will wear to our twenty-fifth class reunion, an upcoming dinner party, weddings, funerals, and everything in between, we are very serious and determined about making sure we have done our due diligence to put together the perfect ensemble, one that is the product of a well-thought-out, many times labor-intensive process.

We plan our wedding, giving special attention to every little detail. We spend time choosing our colors, our dress as well as the attendants', our flowers, our photographer, our venue, our guest list, our invitation, our reception, our cake and our honeymoon.

In choosing a home to live in, we rarely make a decision after very little deliberation. No, the truth is that we consider everything about the home: the location, price, style, features and amenities. Many times we seek the advice of a realtor to help us understand our many options and assist us in comparing the advantages of limitless possibilities. Before making our decision, we trudge through house after house, making sure we have completed a thorough investigation of every conceivable choice.

Once the decision has been made, we embark on an endless journey of planning decorations and furniture placement that will maximize the beauty and functionality of the home.

We plan for children. Even though we sometimes get an unexpected surprise, most of the time we plan when and how many children we will have. When they arrive, an entirely new world of planning is put into motion. From our children's birth until they reach adulthood, we are constantly involved in putting together schedules for them that include everything from naps to curfews, homework time to soccer practice, birthday parties to graduation. We become geniuses at coordinating a plan that keeps what sometimes may seem to be a thousand balls in the air at one time.

Women spend enormous amounts of time planning for holidays—shopping, decorating and coordinating special meals. Let's consider one holiday most people can relate to: Christmas. The reason for the season is the celebration of the birth of Christ, but, that being said, it is also a special time for giving and spending time with friends and family. Because of the nurturing nature of women, we will put a great deal of time, money and effort into making this holiday a memorable experience for those we love. Why else would we spend weeks and even months making gift lists, shopping endlessly in congested malls, standing in never-ending lines at the checkout, decorating, wrapping gifts and cooking meals that literally cannot be completed in only one day? In order to create the ambience we want to provide for the ones we love, we must be fantastic planners to pull everything off.

Think about all of these many, many things we spend time planning. Our entire lives as women are full of them. But most women spend very little time or effort planning for an extremely important aspect of their lives: their financial...