Celebrating International Women's Day
Mar 06, 2020
We are celebrating how far we have come! Happy International Women's Day!
It is my mission to inspire women to see that they are capable of making history.
As women, we learn differently than men, and also we have different challenges too.
We can take a more active role in the world. But there are a few things that we need to do to achieve that. Today I am going to go over a few things that we can do to be intentional about it.
It starts with Us
Do you want your dream lifestyle to reach the Bank? Then it starts with you. Be honest about your money habits, your money mindset, and your behaviors. When we transform our relationship with money, we show up differently in business.
We show up more powerfully and with more confidence in the marketplace. We know our worth, and we will fight for it if necessary.
Let's talk about money
Can you believe that over 60% of women rather talk about death than talking about money? Money shouldn't be taboo. It is time to talk about money with your girlfriends, colleagues, and female partners.
Ask questions, be open about your struggles, successes, stories, and advice.
Women's Employment Gap
We have come pretty far, but we still see a gap in wages between men and women.
Statistics still show that women have to work 66 weeks to earn as much as men do in 52 weeks.
Also, less than 6% of CEO's are women.
If we are looking for financial equality, there a few things that we need to take into consideration.
Take charge of your finances.
You need to learn, at the very least, the basic concepts of wealth. You need to learn how money works and be on top of your money and your finances.
Money is female too, and we can take advantage of money strategies to grow money as much as men.
Pay Yourself First
One super important thing is to apply the Pay Yourself Strategy. If you pay yourself first, for your future, you could have a substantial amount of money that you can utilize to get ahead financially even more.
Do you know your Financial Freedom Number?
Instead of trading time for money and money for time, learning your FFN will allow you to reverse engineer your exit strategy. If you know how much do you need to retire for the next 20 or 30 years after retirement, that is freedom.
The median retirement savings for men is three times more than women, so for every $100,000, women have $33,000. Isn't that concerning?
Plan for the Unexpected
Women live longer than average men. Women live roughly 6.5% more years than men. Therefore, we need more savings than men. Not only that, as we age, we could become disabled, and retirement homes are not cheap, and they are not a high-end hotel either.
Get Rid of Debt
Can you believe that over 66% of the student debt is women even though they make up for 56% of college graduates? Why are women having a tougher time paying off debt than men?
It starts with our priorities and how we manage our finances. We also have other challenges that our counterparts don't. Women get pregnant, which can affect the time at work and promotions. If they are divorced, most likely, they will take care of the kids with brings other challenges. Childcare can be pricey as well as the guilt that moms feel by leaving their kids. This brings the problem if they should become stay at home moms. So what to do?
Create a plan
If you don't plan, you are not going to know where you are ending up.
All of these statistics are improving, but still at a slow pace. So it is time to take a more active role as women. It is time to take charge of your life and your money.
If you want to learn more, set up a time to chat. https://www.financebabe.com/pages/calendar
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