It's an issue I deal with nearly everyday: women telling me they have no idea where their money goes. Delving into this issue I discovered that's it not negligence or a lack of concern that's keeping these women in the dark, but a lack of confidence when it comes to money matters and a hesitancy to make important financial decisions because of it.
In fact, studies show that while women want a role in making major financial decisions, I'm talking the big items not the grocery bill-- less than two thirds of women actually have a say in household financial decision making. Many women turn over the household finances to their husbands or significant others or they allow the family financial adviser to take charge-- and that means women are giving away the power to control their money. If this is your story-- without the financial know-how, divorce or death can push you right into poverty.
If you're part of the 42% of all women who readily admit that they don't have financial security, it's time to take back the power. With women outliving men by an average of five years, it's a good idea to keep your money managing skills sharp. So how do you do that?
Here are some simple steps:
-Get educated to share in financial decision making and build self-confidence when it comes to your money.
-Talk over all family money matters with your spouse or significant other.
-Spend less than you make.
-Set goals to save more.
-Don't reward yourself for accomplishments by spending money (i.e.): "I just did 'such-and-such' so I deserve a shopping spree."
-Don't let fear of failure keep you from investing, (Remember you're getting educated to make informed decisions).
For statistics and more on women and managing money check out: http://womenmoneyandsuccessmag.com/resources/statistics
In fact, studies show that while women want a role in making major financial decisions, I'm talking the big items not the grocery bill-- less than two thirds of women actually have a say in household financial decision making. Many women turn over the household finances to their husbands or significant others or they allow the family financial adviser to take charge-- and that means women are giving away the power to control their money. If this is your story-- without the financial know-how, divorce or death can push you right into poverty.
If you're part of the 42% of all women who readily admit that they don't have financial security, it's time to take back the power. With women outliving men by an average of five years, it's a good idea to keep your money managing skills sharp. So how do you do that?
Here are some simple steps:
-Get educated to share in financial decision making and build self-confidence when it comes to your money.
-Talk over all family money matters with your spouse or significant other.
-Spend less than you make.
-Set goals to save more.
-Don't reward yourself for accomplishments by spending money (i.e.): "I just did 'such-and-such' so I deserve a shopping spree."
-Don't let fear of failure keep you from investing, (Remember you're getting educated to make informed decisions).
For statistics and more on women and managing money check out: http://womenmoneyandsuccessmag.com/resources/statistics
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