Welcome to Money Mondays!

So glad you are here.  Money Mondays will be our time to chat about money and women (and how you can avoid being one of the statistics!).  Sound boring?  Scary? 

Join me weekly, and I promise to break it down into easy-to-digest steps.   Grab a cup of coffee while we chat about how to save money, what to do with your savings, how to set short and long-term goals, budget tips and more.

One of the reasons I started this blog is that I am passionate about money and women.  Why?  Well, in my own circle, some of my girlfriends and family members seem to struggle with money – whether saving enough for a goal or how to invest.  

Some of these women have had unfortunate circumstances such as losing a spouse or being on the short end of a divorce.  Or maybe they left the workforce to care for family, and now may be facing a spouse’s job loss.  Lastly, attitudes do not help.  The patriarchal past that states that men are in charge of money still seems to be alive and well in certain families.  

Unfortunately society often tells girls they don’t have to learn about money.  It is too hard.  Or that their fathers and husbands will take care of them.  Ladies, a man is not a financial plan.  Make sure you understand how to take care of yourself.  If you never have to then knowing how (and taking the steps to ensure you will be fine financially) will just be a nice insurance.  

Still not sure you believe me?  Read on for a few more stats.

Money and women in America

I started researching women and personal finance, and found my own circle was pretty indicative of the rest of the country.   

Here are a few stats:

  • According to the U.S. Census, women are more likely than men to be single parents
  • Women live longer with an average life expectancy of 81 years compared to 73 for men
  • 50% of marriages end in divorce
  • Women are more likely to leave the workforce to care for family.  On average women are out of the workforce 15% of their eligible working years compared to 1.6% of men.   As a result, women have lower social security benefits and sometimes difficulty earning an income when trying to return (Women’s Institute for a Secure Retirement).
  • Women occupy the majority of the lower paying, service jobs 
  • According to the U.S. Census the average age of widowhood is 55 years old
  • 80 to 90% of women will be solely responsible for their finances at some point in their lives due to divorce and longer life expectancies than men.

How can I help with money and women?

In my corner of the Internet – I am intent on helping other women succeed with money.  

Full disclosure, I am not a professional financial advisor.  Certified financial advisors can be excellent support and certain cases warrant one.  Here I will be sharing what I have learned.  

What is my background?  One of my college majors was finance. I then went on to work in banking for five years for one of the largest banks in the country.  After that I earned my MBA.  

I will not be sharing complex stock option trading strategies.  This blog will be focused on basic, practical advice around savings and investing – and my own experiences that have enabled me to reach my financial goals.

A bit more background

My father grew up in the depression and let’s just say Bob imparted a strong understanding of savings, investing and money for his daughters.  I realize how lucky I am and how other women were not part of that conversation growing up.  He was also very frank about getting a job that would support me financially after college.  No basket weaving allowed!

Money is not boring

You see, personal finance may be sort of dry but what you can do with your money is not boring.  We women often focus on being caregivers which is a wonderful and admirable trait.  However, ladies, taking care of your money can mean taking care of your family, your life – and freedom from worry so you can spend your time doing what means most to you.  

How great is it to be able to provide the kind of education for your children that you envision?  Or a secure retirement for yourself so you won’t be a burden?  Or maybe your dream house or vacation to make those family memories?

Join me for Money Mondays!

So let’s change that…come join me Mondays as we discover the world of personal finance to help you achieve your goals.  We will take a topic every week ranging from savings (how to save, budget, where to put your savings) to investing (how you can build a bright future with investments).

How does your circle of female friends fare in the personal finance department?  I welcome your comments.

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