Women and Money

I was in a meeting in the course of the week to discuss an opportunity about financial education for children. One of the people in the meeting mentioned that women are a force to reckon with when it comes to influence others. I am sure you agree with that. Women influence their husbands, children, friends and family members who will in turn influence their own families. Interesting! We are a force to reckon with

Now coming to the topic I am passionate about, money. How good it will be for the society if women are more in control of their finances such that they can be good influencers in that regard too. I did a quick review on women and money and noticed that women tend to be insecure about the subject of money. The insecurity is as a result of the following:

Women lack confidence

Women tend to lack confidence in money matters. This is mainly because they do not have the required knowledge. The more knowledge you have about money matters as a woman, the more confidence you have. How do you get started? Review your personal financial statements on a monthly basis so you know where you stand. Know what your income, expenses, assets and liabilities are. Keep a personal-finance book and join like minded people to learn about different concepts that will keep you going on your new journey.

Women worry about the small stuff

Women tend to worry about the day to day spending and the minute details associated with home management that they do not focus on the big picture. We need to move away from worrying about the kobos, cents, nickels and dimes and start thinking big. Even though we are master with finding good deals, we need to help our families to work towards the ultimate goal that will definitely be affected by finances. Begin with the end in mind!

Women wait for someone else to fix the problem

Most women were raised to believe that their husbands would handle the finances. Even though the man is the head of the home and the provider, that doesn’t stop the woman from being the helpmeet who has a good grasp of the financial well being of the home. Many women ignore such issues until they are forced to pay attention. For many, reckoning may come when they are least emotionally prepared to deal with it such as after they lose their spouse through death or divorce. You don’t need to wait for this. Understand your finances and that of your family. Be on top of it!

Women are focused on goals but not the numbers

I have heard women who say they want to have a lot of money. Being financially confident isn’t about making more money just to increase your account balance. Money is a tool that is supposed to help you achieve your goals, take care of yourself and do good things for other people. It is not the end in itself but a means to getting the life you want.

If we are able to overcome the above as women, then we will be able to influence our financial future, that of our families and friends for good. Let’s give this a go!

Copied from http://gbonjubolasanni.wordpress.com/2013/07/13/women-and-money/

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