Women and Financial Planning

Women and Financial Planning

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The world of finance and investing, even in this day and age, are often considered to be a realm ruled by males. However, recent statistics show that over 51% of the workforce in the US is comprised of women. Which means that more women than ever before have both spending, and investing power. So why is it that so few women seem to actively participate in financial planning and investment?

Things that Inhibit Women for Investing

There are several factors that contribute to women’s overall reticence to be involved with financial activities. For starters, women tend to lack confidence because they believe that men are just naturally better at managing financial concerns. Another of the major factors is that while it is true that more women than ever are working and making money that they could invest, or use for retirement planning, there is still a significant wage gap. It may be that the pay gap is a contributing factor to the higher amounts of debt that women tend to carry, which is also an impediment for women trying to start good spending and long-term financial planning.

Why Women Should Invest in Their Financial Future

Women can have all the confidence in themselves and their ability to manage their money. Despite the fact that many women feel men are better with money, study after study has shown that to be untrue. While the margins are a bit low to firmly declare one gender better than another in the finance game, the available data does prove that women are at least as good as men at making financial calls. There are also all sorts of tools available for women to use to get their financial management going. Everything from personal loans for bad credit to get things jumpstarted, all the way to financial firms designed exclusively for women.

A Sunny Outlook

Despite the challenges that women may face in regards to financial planning and investment, there is every reason for optimism. With more women advancing into higher paying jobs all the time, it is expected that this trend will continue, likely meaning the wage gap will continue to close. This, combined with more readily available resources to help women get started with financial planning, will likely help with debt levels as well. With women succeeding in so many industries and activities, what’s to stop us from starting down the road today to a more solid and happy financial future?