Women & Money - A case for financial literacy

The facts are frightening: Women earn about 80 percent of what men earn. They live on average five years longer than men, so they have more for reTirement. And yet, because they earn less and work less often because they take time to care for children and elderly parents, they save less for reTirement and receive lower pensions.

There are women who have conquered the historic wage gap, most people facing particular difficulties arising fromVariety of roles they play, including employees, wife, mother, homemaker and nurse. And in this fight, the principles of sound money management is often left behind.

In an article by Forbes.com, author Warren Farrell notes: "Men in their decision making more money, on the other hand, the choices of women who deserve a better life (eg, more family time and friend).. do "

This statement raises two questions: First, you can strike an effectivebalance between financial security and quality of life? The answer is yes, but it takes education and action. And two, while family and friends as long as reality, regardless of the value of the rest can take care of you and your family?

Women have a complicated and often dysfunctional relationship with personal finances. The problem is not the ability of women have the ability to manage money to save, invest and create wealth as well as men. But too often, theyJust do not. Moreover, women with successful businesses keep track of records that were issued outside the safe, competent and realized he had known catastrophic personal financial life.

Even a woman, the poverty in many

Let's take a look at the statistics of poverty. According to the U.S. Census Bureau, in 2004 poverty line for a family of a person under 65 years, an annual income of $ 9,827. In 2004, the official poverty rate of 12.7 percent, with 37 millionPeople in the United States live in poverty. The U.S. Department of Health and Human Services indicates that the poverty rate was greater in 2003, 12.4 percent (13.8 million women) for all women 18 years. Poverty rates vary by age group among women, with younger women aged 18-24 years reference a poverty rate of 19.7 percent. The lowest poverty rate (8.9 percent) was found in women aged 45-64. The poverty rate rose to 10.6 percent for women aged 65-74 and 14.3 percent for women aged 75Years and beyond. Women in female-headed households without spouses experience greater poverty (24.4 percent) than women in married-couple families (5.2 percent) and men in households with a male (8.8 percent).

It should not be so. Women of all ages and incomes can take control of their lives and have a whale of financial self-determination.

To put it in perspective

The strongest thing you can know about the money that it is a tool thatcan help your dreams. Money is what pays for the houses, furniture, cars, food, medical care, clothing, entertainment, all the material things we enjoy. It is also worth to non-material things, since it enables us to support churches, charities and other causes. But money is just for you, if you know how to do it. And knowledge is not enough because there is so much emotional baggage attached to how to manage money. According to a study conducted by Fannie Mae to staffFinance. "Use Money value is loaded budgeting decisions, decisions money every day, saving behavior and attitudes to money, at least in part, with the values that inform our ethnic group, level of education, class background, income level and sex of the stem cells. " In addition to learning the strategies of sound financial management, you may need a large financial Attitude Adjustment.

It 'also important to recognize that financial education is an ongoing process. A single book, workshop or class is notenough. Needs change over time, a young woman just graduated, one-Gen Xer climb the career ladder, baby boomers preparing for retirement or in retirement are all distinctly different financial needs. And certainly change the circumstances and reasons that life develops. Together with changes in personal circumstances, women also face a changing economy and the unpredictable events that can manage the financial impact on safety.

When it comes to financial informationTechnology is a double-edged sword. Affordable Computers and the Internet have access to a huge amount of data that are not widely available before, but not everything is sound. It takes a basic training to recognize in financial basis, what advice is good and what is not.

Ideally, financial education before children start school. But it's never too late. Regardless of their age or stage in life, now is the time to take control of your financial futureWhat to do, then make a commitment to do so.

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