Many women worry about ending up destitute and in the streets in their senior years. This is the bag lady syndrome; it often stems from lack of confidence in knowing how to make and manage money. The bag lady syndrome ranges from women who have a lot of money to women who have a highly emotional relationship with money. To build up confidence you must explore your money mindset. What is your thought or belief about money and its purpose in the world? Your money mindset ultimately dictates how you save, spend, invest, and gift daily.
Source: Kingsbury, How to Give Financial Advice to Women