Women and Financial Power

Too many women lack the confidence necessary to take control of their financial lives. Women fear making investments, managing their finances, planning and monitoring their spending, managing investments, and increasing their wealth.

Why aren’t women more confident with their finances?

The answer is that women are stopping themselves from being assertive. Many women leave their financial lives to their husbands, boyfriends or parents, and because of this way of thinking, they lack financial power. Financial empowerment must come from within. Women must seize it with fervor, reflecting an unshakable determination to take control of their financial lives. You must tell yourself that you can become empowered, and that you will not let outdated notions of gender hinder your success. Keep “EMPOWER” in your mind as an acronym representing these concepts:

Education is critical
Motivation inspired by your values
Protection against risk
Ownership of your future
Work — claiming what is yours requires effort
Emotions should be kept out of decisions
Responsibility to yourself

Do you use any acronyms to motivate you with your finances? I’d love to learn about yours!

Source: Gibbons, EmpowHer! Why more women are taking the financial lead

What are your strongest skills?

Since the beginning of time women have used their natural strengths (and instincts) to make important decisions in life, so why can’t women use those same strengths to manage their money? Men and women approach just about everything differently in life, from driving, to responding to a crying child, and even how they socialize. Research has shown that companies that have a larger percentage of women in upper management tend to be more profitable. This isn’t to suggest that women are smarter than their male counterparts, but instead suggests the importance of appreciating and respecting the unique approach that both men AND women bring to the world.
When it comes to managing their money, most women often feel the need to approach their finances like their fathers, husbands, and even sons. Let’s face it, the financial services industry was really developed by men to help men.
Women must learn to trust their “instincts” and to have faith in their ability to make smart decisions to effectively manage their money.