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Dominique Strauss-Kahn recently stepped down from his position as the managing director of the International Monetary Fund due to alleged misconduct and pending legal proceedings. On Tuesday, French Finance Minister Christine Lagarde was named his successor. She will assume this position on July 5 and it hold for five years.
The IMF describes itself as “an organization of 187 countries, working to foster global monetary cooperation, secure financial stability, facilitate international trade, promote high employment and sustainable economic growth, and reduce poverty around the world.”
Lagarde will be the first woman to head the IMF. Greece is currently undergoing a financial crisis, and everyone seems to be optimistic that she can help prevent the country from defaulting. Lagarde is said to be a tough negotiator, and she got down to business fast. “Minutes after her appointment, Lagarde pressed Greece to move quickly to push through unpopular austerity measures that the IMF and EU say are a prerequisite for further aid,” Reuters says.
I love hearing that the IMF put a woman in charge for the first time. It seems that our society generally defers to men for financial guidance and knowledge, but Lagarde is a smart, powerful and experienced woman stepping into a huge leadership role in the world of finance. I hope that women are able to continue breaking down these barriers and prove that we are just as capable as men when it comes to handling finances, business and politics.
Speaking of financial savvy, read on for my list of my 10 favorite personal finance blog posts from the past week for some great advice and tips.
1. Deliver Away Debt reveals his own story of how he got into debt and how he climbed his way out of it.
2. Continuing to have dates is a great way to keep the flame alive in a relationship, but it can eat away at your wallet. Little House in the Valley provides some suggestions for how to maintain romance on a budget.
3. Tightwad also offers suggestions for how to have a cheap but enjoyable date.
4. On a similar note, KNS Financial shows the important of injecting some fun into your family budget and suggests a few ways to do so.
5. Barbara Friedberg Personal Finance discusses some of the differences between credit cards and debit cards, and which she believes are safer to use.
6. Many of us go into credit card debt in order to buy presents for the holidays. Sweating the Big Stuff explains why you should begin saving for gifts now.
7. Financially Consumed advises readers on how to avoid becoming a victim of charity scams, which become commonplace in the wake of a tragedy.
8. Rich Credit Debt Loan lists how you can get motivated to organize your finances and what steps you should take.
9. Money Ning discusses some of the ways your FICO score can affect your finances
other than with loans.
10. Dinks Finance reviews the book “Debt Free for Life” and explains why it’s such a great read for those who are trying to get out of debt.