1. Have you established financial identity and reliability in your own name?

It is very important for women to establish a good credit reputation in their own name. Ideally, begin with your first job. Definitely establish a separate credit record from your husband's. Don't wait until you have gone through a divorce or the death of a husband. You need to establish your financial identity to be able to borrow money when necessary. Develop savings, credit, investment and insurance plans to help you become financially independent.

2. Have you set long-term goals for yourself (e.g., education and career training) that could improve your economic situation?

People will average seven major career moves during their lifetimes. Investigate different career options and learn what educational and training requirements are necessary for those careers. Talk with people in positions to which you aspire. After setting your goals, work out plans for achieving them.

3. Have you thought about skills or interests you have now that can be developed into a part- or full-time career now and after you retire?

Is there something you have always wanted to do or learn? Do you want to have your own business? Begin to gain skills and network to increase your opportunities for future jobs. Women own 5.4 million businesses in the United States and start twice as many new ones as men.

4. What are you doing to reduce taxes on your income?

There are ways to save toward retirement and your children's education that will reduce the amount of taxes you pay. Investigate your options by asking your tax preparer and reading current money-related periodicals.

5. What are you doing to increase savings and investments for your long-range security?

By 2015, five percent of the population will live to be 100 years old. Will you have enough funds to last until you are that old? Especially if you aren't married, you need to prepare financially for your later years. Seek expert advice and maintain a diversified investment portfolio.

6. What are you doing to become better informed about savings and investments so you can make informed decisions about your future?

Try spending an hour each month at the public library reading articles of interest from publications such as the Wall Street Journal, Forbes, Money,and Kiplinger's Personal Finance.

7. What plans have you made for someone else to manage your financial affairs, such as power of attorney, if needed?

Ask someone you know and trust, but be sure you have your agreement in writing. Carefully kept records will help the one you ask to settle your affairs.

8. Have you prepared a living will to allow your family to refuse life-sustaining treatment for you in case death is imminent?

All 50 states and the District of Columbia recognize the rights of terminally ill patients to refuse life prolonging treatment and authorize some form of medical directive. A Living Will Declaration form is included in this series.

9. Do you have a will? Does it make arrangements for the custody and care of your children and distribution of your assets in the event of your death?

The most important reason for having a will is to name a guardian for your children. If you don't, the court will appoint someone. Your will also declares who will receive your assets. If you don't have a will, the state decides.

10. What arrangements have you made for your children's financial support?

This might be through life insurance benefits, trust funds, inheritance from your estate, or Social Security benefits. Find out what you need to do to assure that they will have adequate financial support in the event of your death.

11. Have you investigated ways to reduce living costs (e.g., housing and food)?

Per capita income for families headed by a female generally declines after death or separation from a husband (statistics don't indicate incomes declining for single-parent families headed by males). Look for money-saving ideas from community services, such as the library and the Cooperative Extension Service.

12. What are you doing to involve your children in financial matters as a means of developing their money skills?

Children who learn basic money management skills will have an easier time meeting their financial goals as they grow older. Children who know about the family's financial situation can help in making choices about how to increase income, cut expenses, and use available resources.

13. What adjustments are you making to cope with increasing child-rearing costs?

If you want your children to attend college, investigate scholarships and loans available, encourage them to save for that purpose from their earnings, and/or begin saving yourself.

14. What financial responsibilities will you have for others?

Not only may your children be dependent on you, but your invalid or retired spouse and parents also may be.

15. Considering that you or an aged parent may need special care, have you explored options among hospitals, nursing homes, and/or retirement homes?

It is important for all persons to explore these options and costs and discuss them with family and close friends before the arrangements are needed.

16. What changes to your estate plan do you need to consider as your children leave home?

Once your children are on their own, they may not need the same amount of financial support from you. You may want to reduce your life insurance coverage, rewrite your will, and/or appoint one of your children as the executor or contingent executor of your estate or trustee of your trust.

17. Have you discussed personal wishes and future living arrangements with your children or other family members?

Your wishes for your retirement, where and how you want to live after your children are grown, and your funeral are all topics worthy of family discussions. These are not easy topics to discuss, but they are of vital importance to the financial and mental well-being of your family.

18. If you become ill or incapacitated, will your adult children or other family members help? Will they supplement your income?

You might have disability insurance and may be able to qualify for other financial benefits. Check into community services. Discuss with your family what they will be able and willing to do.

Based upon the questions, what are the three most important things you can do to make the biggest difference in your financial security in the coming year?