Some great avenues for expanding your knowledge around this are seeking a financial professional's guidance reading relevant articles, books, and blogs listening to podcasts and utilizing apps that help you save, budget and invest.įor example, Savvy Ladies, a non-profit organization, is dedicated to empowering women through financial education. If there is anything about your financial situation that you do not understand, seek the answers you need.įinancial education is lacking in our school systems, so finding alternative ways to educate yourself, to better your chances for financial success, is crucial. Make sure you know precisely how your money is being made and spent. Women should also carefully track their spending and savings. Women should get access to log-in credentials for all accounts, allowing easy access to financial information.īuild an emergency fund of three to six months of living expenses to protect against any large surprise expenses. To protect against this, women should review their finances monthly, so they have a clear understanding of where money is coming from and where it goes. These women face a steep learning curve once they are on their own, and find themselves at much greater risk of making costly financial mistakes. Those who do not have hands-on experience managing their finances are at a massive disadvantage once the person handling their money is gone. In a 2016 study, researchers found that 9 out of 10 women will be the sole financial decision-maker of their household at some point in their lives. Making sure women are involved in their finances is important now more than ever. I finally dared to ask why she stayed, and Grandma shared that she felt financially trapped in her marriage. I watched as my own grandmother endured an abusive marriage, and I didn't understand why she never left. Growing up, I saw how important financial strength and independence are for women. RBG's legal work and many victories led to remarkable changes in financial independence for women. This act allowed women to have access to bank accounts, credit cards and mortgages without a male co-signer. Specifically, her work and fight, paved the path for the Equal Credit Opportunity Act of 1974. RBG used her voice when she co-founded the Women's Rights Project, while focusing solely on gender and financial equality. More from Personal Finance: $1,400 stimulus checks are included in Congress' new relief package American Rescue Plan creates a tax headache for the unemployed There are pros and cons to working from home Historically, women have been more likely to take a back seat to men when it comes to money, and RBG fought to change this. RBG taught the court that "a gender line … helps to keep women not on a pedestal, but in a cage." In finances, the gender line that puts men in the driver's seat leaves women at a disadvantage and dangerously ill-informed about their money. ![]() Personal Loans for 670 Credit Score or Lower Personal Loans for 580 Credit Score or Lower Best Debt Consolidation Loans for Bad Credit
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