Tag Archive | Financial Gender Gap

Women and the Financial Gender Gap

It is no secret that there is a financial gender gap that has been around for decades. While in some areas that gap is closing, others are not seeing much of a change at all, and it seems that the change it is seeing is going in the wrong way. The financial gender gap will hopefully be gone someday, but until then women need to work at closing it for themselves.

Financial Finesse has put out a survey that shows that women seem to be falling behind men when it comes to financial literacy. It shows that women need to take charge and become financially literate. Financial literacy is not the only place that women seem to be falling behind in.

In most areas of financial planning in general women seem to be falling behind. The gaps are growing in the areas of paying off debt; having basic stock, bond, and mutual fund knowledge, and even in building emergency funds. It is not hopeless for women though, they can still become financially educated.

There is one area where women are not falling behind men in. When it comes to planning for long term care women are keeping up with men. This is the one area that women seem to understand and are not falling behind.

Women want to have peace of mind; they do not want to have to worry about what is going on with their money. If it is in a safe place then they feel better. One reason that the survey shows that women are behind is that they like to gather information from a large variety of sources before they make any decisions whereas a man will make that same decision much faster and with less research.

When it comes to a financial planner women do not want someone who comes across as a bossy know it all. They want someone who is going to be an ally for them in the financial world and who will look out for their best interests. The financial planner must make it comfortable for the women to ask any questions that she has and they cannot be an overly harsh person. Men are less likely to go see a financial advisor and when they do, they do not mind those financial planners that some women seem to have problems with.

Women you need to take responsibility for your own financial education. It does not matter if you get your information from an online source, a financial advisor, or even from a financial class. The important part is that you become educated in some way so that you can make better financial decisions.

There is still a financial gender gap out there. It is up to women to work at closing that gap. We have the ability to make sure that we are in charge of our own finances. So ladies, get out there and get educated, make the financial gender gap disappear for good.

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    Women Need to Work at Closing the Financial Gender Gap

    It is no secret that there is a financial gender gap. Women do not make as much as men for doing the same job. There are ways that women can work toward closing this financial gender gap. Here are some tips for all women to work toward this goal.

    One of the first things that women need to learn how to do is to put themselves first. Most women are caring for others instead of worrying about them. If you stop and put yourself first you will find that you are able to put more money into your retirement account and your emergency fund. Remember ladies, the money in your emergency fund and retirement accounts is completely off limits.

    Ladies, when it comes to your investments not only should you make sure that your portfolio is diversified, but you also need to start taking more risks. Women tend to play it safer than men do when it comes to investments. This is why more men bring home more money from their investments. They also run the risk of losing more money as well. Women invest their money where they feel it is safe. If you take more risks in your investing you may get more rewards.

    Know when you need the help of a professional financial advisor. Ladies, do not trust just anyone when it comes to getting this help. You need to find a financial advisor that is going to work best for you. All are different, their fees and charges are all different, and do your homework when finding a financial advisor before choosing one.

    All women should do their own research as far as their financial decisions go. While if you have a financial advisor you can get help from them, but all women need to take a more active role and do their own research to try and figure out the best decisions for them. If you do your homework and get good at making financial decisions, you may end up no longer needing your financial advisor to make decisions for you.

    Ladies, you need to work at closing the financial gender gap. This is something that you all need to take on as your own personal mission. After all would you prefer to make more or make the same amount that you currently make? Most would choose to make more money than they currently are. Work at closing the financial gender gap and you just may be able to bring home more money.

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