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HOW IMPORTANT IS MONEY TO A WOMAN?
Put plainly, the world of finance was not originally built for women.
In our culture, it is still very common to see women writing recipe books and men writing personal finance and investing books. That’s just how it’s always been. But that’s not how it always has to be!
In this article we’ll explore:
- How prominent men are in finance
- Women who have successfully entered this field
- The benefits of being a wife, mother, sister, or friend who understands money
- How to become more literate in finance, take control of your money, and build the life you desire
The Gender Gap in Personal FINANCE
If you look up a website for money advice or information, the websites are set up with the man in mind. I have been in the personal finance blogging niche for years now and although I recognize that there are plenty of blogs about personal finance written by women, the big-name websites are geared to men.
I’d like you to take twenty quick seconds right now and open a new tab and simply type in “money”. Seriously. Go click on one of the first websites and you’ll see that I’m not lying.
They’re that way because they weren’t originally written for you. Ouch, right? My favorite, however, is looking up information on investing. Women really can’t get readily-available, relatable sources on this topic.
Let’s try another Google search. In your extra tab I’d like you to type in ”investing book”. Look at every book that is recommended. Seriously.
They ALL authored by men! In the entire section of recommended books, only one was written by a women, and she wrote about another man’s book. (this post was updated as of August 2020, so results may change depending on when you read this article)
Simply put: There is greater money in writing about money and investing to men rather than women.
Think about what is taught to us when in school. Ladies take classes in design/art/biology while guys in computer science/math/finance. This obviously isn’t anything new to you, I know. Personal finance is just more appealing to men since they have been socialized to want to be the breadwinners for the family.
But, girl, I’m here to tell you that women understanding money is one of the most important skills you could have.
Be sure to take a minute to check out 10 empowering quotes by women who understand money!
WHY MORE WOMEN NEED TO LEARN PERSONAL FINANCE
You don’t have to have a degree in finance to become literate in money. I certainly didn’t!
I am so proud of the women who have taken action in their lives to teach their families about money and have gotten out of debt themselves. It takes dedication and drive to do so.
Now, one thing I don’t want you to do is get your advice from Google searches like, “getting out of debt for women”. Why? Many websites and articles that will pop up first will be written by a man. Let’s be honest, we just have different struggles and responsibilities than they do. Agree with me or not, but I swear that we just think and experience life differently.
So, what women can I look up to as rolemodels? It depends! Do a quick Google search and you’ll actually find many amazing women who are CEOs of companies, women who have written great books, and women who are trying to make it big in the corporate world of finance.
For example, check out this list of female authors who write about personal finance:
- You are a Badass at Making Money by Jen Sincero
- The Soul of Money by Lynne Twist
- Super Attractor by Gabrielle Bernstein
There are also many women who are speaking out to the inequality that this field provides. Nevertheless, if we can mobilize more women to become financially independent, we can eventually spread the word that saving money isn’t as hard as it seems!
5 REASONS WHY UNDERSTANDING MONEY IS SO IMPORTANT AS A WOMAN:
- If something happens to your spouse, you’re left to figure out the money
- Rid of stereotypes that women can’t control money or a budget
- We naturally take less risky paths and think differently than men
- Being a role model with money for your children is critical to set them up for success
- You can help so many others with your knowledge and experience. Spread the love!
As I emphasized earlier, learning about money is one of best skills to have. Not only will you benefit yourself, but you’ll make a difference for your family, your spouse, your grandchildren, and your entire life experience.
Imagine being able to pay for a full family vacation without going into any debt. Imagine being able to not have to work and live paycheck to paycheck. Imagine living a life without any debt or money struggles.
My favorite way to learn about money is through a free app called Personal Capital! It allows you to see your cash flow and how to plan for retirement!
These are typically inspiring ways to get men to want to start researching finance. I can imagine how satisfying it would be for a man to be able to fully support his family through passive income so that he and his wife wouldn’t have to work another day in their life.
I think that’d be even more satisfying if a woman were to do the same.
How Can a Woman Learn More About Money?
There are so many ways to start learning about money, and it’s never too late!
- A simple Google search can provide plenty of resources, but I recommend to always analyze your sources for credibility and make sure to get many different opinions, especially regarding investing!
- Blogs and websites can offer honest and real examples to help women with every aspect of their financial journey.
- There are many books that I have enjoyed and benefitted from in the past years and when beginning to invest.
- I love podcasts! Without me being biased toward any single one, I recommend checking some out for good advice to listen to while driving or getting ready in the morning!
4 important steps for a women to learn about money:
#1. TRACK YOUR SPENDING!
If you are a woman and you find money to be important at all, you need to start tracking your expenses and income!
I use a free, beginner-friendly platform called Personal Capital, but any will do!
Once you input your assets and liabilities, you’ll have an idea of your net worth. This is an important step for this process! You can then set up a budget and track all of your expenses!
Check out my full review of this free app here!
#2. LEARN HOW TO SAVE CASH
Saving and budgeting are everything for when it comes to understanding money. I use a popular free app called Acorns to set aside money for a savings fund.
Acorns works by linking to your bank and helping set aside “cents” to a savings account after you make purchases. It’s a really neat way to save up money without even thinking about it – and you could literally save up hundreds in a year!
If you’re interested in checking Acorns out, go get your free $5 credited to your account here!
#3. FIND WAYS TO MAKE EXTRA CASH
I discovered survey sites awhile back and have been able to make a handful of extra cash to save up for expenses! I was able to buy items for my wedding and regularly get gifts with the free cash I’ve earned.
Now, this won’t pay for all your bills and expenses, but getting extra cash each month certainly won’t hurt!
I know of people who use dozens of survey sites, but I only stick to two. (Honestly, I just don’t have a ton of free time.)
I have a step-by-step article here about how to start with one of my favorite sites!
If you want to double your earnings, check out both of my two favorite apps:
Some extra dollars will always be helpful, and it will be smart to keep on earning after achieving financial freedom, too!
#4. Learn Your CREDIT SCORE
Understanding your credit score is a critical part for any woman to understand personal finance!
My best piece of advice is to know your credit score before starting to rack up debt. Then, regularly check it using an app that won’t affect your score.
I use Credit Karma, which I’ve loved for years! Not only is it free, but checking your credit score through them won’t make any difference on your score (unlike some other services out there!).
Ready to start your financial journey? Learn more!
Hey Kelsey! It’s awesome to connect with other women in personal finance! Thanks for reading!!
Yes, yes, yes! So many websites that are so bland and so geared towards male readers. Love this so much! Thank you for sharing 🙂