Personal finance is a difficult topic and it's something that most people don't like to talk about. There is no class that really teaches you how to manage your money and most people don't really talk to their parents about finances. But managing money is most difficult for women. But make sure you stay on top of your finances to counter the statistics that make managing money difficult for women.
Did you know....?
- Over 90% of all women will take sole responsibility for their financial decisions at some point in their lives
- 47% of first marriages and 49% of second marriages end in divorce
- 75% of women do not know how much they need to save for retirement
- Only 28% of women 65 and older received pension benefits, versus 45% of men, and the median amount of men's pension income was twice that of women
- More single women ages 21-34 (53%) said they were living from paycheck to paycheck than did single young men (42%)
If you start saving and investing now you can learn how to manage your own money. Too often we as women go from our parent's house to our husband's house and never learn to live on our own. You've got to take control of your destiny and your finances on your own! With the resources and tools available you can make excellent financial choices that will prepare you for a better, more comfortable life ahead. Knowing how to manage your funds could also make you more attractive to your future mate! Research shows that men actually like a "cheap date" because they can appreciate frugality in a woman. So take time to budget, set financial goals, and plan for marriage, kids, retirement, and any other major life decisions. Waiting for things to happen will only cost you more in the long run. Remember, those who fail to plan plan to fail.
Books to Consider
- Women & Money by Suze Orman
- Personal Finance: Turning Money Into Wealth by Arthur J. Keown
- Rich Dad, Poor Dad by Robert T. Kiyosaki
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