When it comes to women and finances it seems that even today there is a gender bias. Why is this? It could be contributed to many reasons. Women are starting to take a more active role in their family’s finances; however there are still issues when it comes to handling money that almost seems to be in our genes.
Most everyone has known for decades now that women earn less than men do. While the gap in pay between men and women is decreasing, it is still causing other problems for women today. Because women make less money, they earn lower social security benefits later in life than men do. This does not seem to be fair, both men and women work, but the gender bias keeps women from making the same amount of money that men make.
When it comes to caregiver tasks such as taking care of children or elderly parents, women take most of the responsibility. This does take away time that could otherwise be devoted to work. This is another reason that women make less than men, they have to take more time off to be a caregiver. Men leave this to women, so they work and earn money and social security benefits, while women are off being a caregiver and not earning any money doing it.
There are certain careers that women choose more than men do. These tend to be the careers that have been more for women for decades. Such careers would be a caregiver or teacher. For decades these have been viewed as more of a woman’s job. Tradition and culture affect the things that we do, and it has been a tradition in most of our cultures that women do things such as teach and care for others.
Of course there are women who are going to break this trend and follow another career path. It does seem however that it will take some time before women and men are seen as equals in the financial world. Even if a woman gets a degree and does a job that is usually done by a man such as being an engineer, she will earn less than her male coworkers. While this does not seem fair, it is changing, slowly. It may be more than a decade or two before women earn the same amount that men earn. The main thing is that we are on our way to closing the gender gap on earnings and getting rid of gender bias in the workplace.
When it comes to finances most of us women do not know it all. We have shortfalls when it comes to certain areas of our personal finances. Here are some financial shortfalls that women have, knowing them can help you stop doing them.
The first one is that women lack confidence when it comes to their personal finances. It is because of this lack of confidence that women tend to wait longer to invest their money than men do. This can cause us to not have the money that men do simply because we did not have the confidence in ourselves to start investing earlier in life.
Another financial shortfall that most women have is negotiating. This goes along with lack of confidence. We do not have the confidence to negotiate our salaries. We are also ruled by our emotions more than men are and therefore when it comes to negotiating we tend to take a step back. Gain some confidence and negotiate the salary that you should have.
There is still an earnings gap between men and women. This goes with negotiating. If we negotiate our salaries we can help to close that earnings gap. With every generation that is entering the work force the earnings gap does get smaller, but the problem is that it is still there. Women must work to close the earnings gap and get paid what they are worth.
Spending is another financial shortfall that most women have. Women like to shop, everyone knows that. Women tend to spend more than men do. Again we are ruled by our emotions and that does affect how much money we spend. The more emotional we are the more that we tend to spend. Before you go shopping get your emotions in check so that you are not spending more money than you should be.
Women usually live longer than men, most of us know this. This does mean that we need to plan for retirement differently than men do. We need to prepare for us to live longer than our significant other. Women are usually planning for retirement the same way men do and the truth is that women must plan differently when it comes to retirement.
Many women have financial shortfalls that they must learn how to deal with. Knowing what your financial shortfalls are is the first step to changing them. If you cannot recognize what you are doing wrong how are you able to change it? You cannot, that is why you must pay attention to what you are doing. Do not let your emotions take charge of a situation that seems to just make the financial shortfalls of a woman get worse.
All women need a tip here and there. The area of finance is no exception. For all who could use a tip now and then here are some for you.
Every woman should have set financial goals. If you do not then you should take some time to sit down and make some goals. Write them down and write down the ways that you plan to accomplish these goals. If you do have some financial goals that are already set you should take the time to sit down and review them. Make sure that you are still on track to reaching these goals.
One thing that is very important for all women to do is to train themselves to be financially independent. If you do not have to rely on someone else for your finances then you will have an easier time if you suddenly are no longer with that other person. Being financially independent should be a priority for every woman.
All women whether they are single or in a relationship should have their own retirement account. Not only should you have your own retirement fund, but you need to make sure that you contributing to it as well. This way you do not have to rely on someone else’s retirement fund. You never know what will happen in the future and you need to make sure that no matter what happens you are able to take care of yourself.
Do not be too afraid of risk. Studies show that women tend to take fewer risks when it comes to investing than men do. When you are investing try taking just a little more risk. More risk can mean more reward. Do not go overboard, but taking a small risk here and there can be a good thing.
Remember ladies, you do not have to do it all by yourself. You can seek out the assistance of a financial advisor. They are full of knowledge that can help you to make the best financial decisions for you. Financial advisors are good to have, whenever you have a question you know that you can get an answer.
When it comes to salary negotiations women need to have more confidence. Women do not always feel comfortable when it comes to salary negotiations. Women need to find a way that will work for them to gain the confidence to negotiate their salary. Get paid what you are worth ladies.
No woman knows everything. We all need some help from time to time. These are ways that you can help yourself financially. Always remember though ladies, it is okay to ask for help when you need it, you do not have to deal with your finances alone.