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Women’s History Month: A Woman’s Guide to Managing Her Finances

Odd Cents - Lifestyle

Happy Women’s History Month. Let’s celebrate with financial articles that help women to manage their finances in the face of challenges and adversities.

Many years ago I participated in a Women’s Money Week, which celebrated International Women’s Day, female bloggers and posts about great women. To join in the festivities, I wrote two articles (view them here and here). This year, I am hosting my own round up, which showcases posts that guide women along their journeys of managing their finances.

So, in honour of Women’s History Month, here is a roundup of financial articles for women at various stages of life.

1. Money Geek: Becoming a Money-Wise Woman – A Guide to Financial Independence

In this guide by Holly Johnson, there is useful advice and strategies for women who want to learn about financial literacy and financial independence. I’m really impressed with the content in this guide because it covers advice many areas including on money moves for women of all ages; recommends strategies for achieving financial independence; assesses factors that can affect how financially successful women are and provides actionable steps that they can take to reduce debt; and the various stages of financial partnership.

2. Connect Americas: 7 Strategic Financial Management Tips for Women

Women have multiple roles and are tasked with making key financial decisions in the home and in the office. Because of their strong financial responsibilities, sound financial management is essential. Connect Americas explains that women who want to achieve this should prepare a monthly budget; use different accounts for different purposes; invest instead of saving; prepare contingencies; increase added value; think about tomorrow; and build and consolidate their credit history. The goal is not necessarily to be an expert, but to understand one’s current finances and create a tailored plan instead.

3. Clever Girl Finance: 4 Things Every Single Woman Should Have in Place For Her Finances

Are you a single woman grinding through life and making it work? If so, I salute you! The challenge of taking care of everything on your own calls for intangible skills and a motivated mindset. Bola Sokunbi, founder of Clever Girl Finance, has some gems of advice for single women. She says that if you are a single woman, you should have specific things in place for your finances. At the top of her list are going the extra mile with emergency savings; purchasing disability insurance; saving for retirement now; and falling in love with budgeting.

4. Savvy Ladies: What Every Woman Needs to Know About Investing and Financial Planning

Being knowledgeable about one’s personal finances is a trait that every woman should possess. By having control over your money and creating a financial plan, you can set yourself up for a successful life on your terms. Stacy Francis founded the Savvy Ladies non-profit with the aim of helping women plagued by financial instability. This guide compiles their top webinars and podcasts that teach women about investing and financial planning. The playlist includes Saving and Investing for Retirement; Real Estate: A Savvy Investment; and Rethinking Retirement: Preparing for Your Second Act.

5. Cathy Pareto and Associated: Financial Planning For Women

Both men and women want to achieve long term financial security, but women have to consider additional challenges on their journey. Some of the challenges highlighted in the article are a longer life expectancy; interrupted work lives; differences in pay and earnings potential; the impact of divorce; and in some cases, little or no involvement in financial decisions. that men may not face. To fight off these challenges, the author recommends getting involved with financial planning and investing. At the top of the list is gaining an understanding of the household’s overall finances.

6. Women Who Money: Financial Gaps Women Face [How to overcome them]

Women work extremely hard, yet they make less than their male colleagues. This is one of the most common financial gaps which stifle women’s ability to make money and expand their wealth. Women Who Money explores these gaps in great detail with some shocking statistics. There are the wage gap; financial literacy gap; investing gap; retirement income gap; housing returns gap and cost gap. Although there is no quick fix for these financial gap challenges, there are a few things that we can do. One example is improving our financial literacy and increasing our knowledge about finance.

7. Unbiased: Be a Woman with a Financial Plan

There are lots of questions that come to mind during Women’s History Month. Do you think that we are becoming a more equal society? Is there a level playing field for men and women when it comes to managing incomes and planning for the future? In some societies, women face added pressures and must take steps to deal with challenges that men do not face. Unbiased reports that women are faced with challenges such as gaps in their working life; uncertainty about that golden retirement figure; increasing instances of divorce; lower returns on their investments and the gender discrimination and the gender pay gap.

8. Mosaic Wealth Strategies LLC: Invaluable Lessons to Teach Your Daughters About Money

There are lots of lessons that we can teach our daughters about money. Mosaic Wealth Strategies LLC is a mother and daughter team that leads by example. In this article they reveal that a study by the University of Cambridge showed the children have solid financial habits by the age of seven. This means that you cannot wait to teach your children about personal finance. To ensure that young girls are equipped for the years ahead, parents are encouraged to talk to them about money; teach them the value of work; and teach them how to budget.