The other day, I joked with Gil, “You know I’m a graphic designer when I want to buy fonts more than I want to buy shoes.” We both got a chuckle out of it, but that statement highlights a stereotype about women. We shop. We like shopping, with many of us using shopping as a way to unwind, relax, or to just dream.
But as life so often reminds us, there’s another side to money than just buying. There’s also the need to plan. Whether it’s creating a budget of monthly expenses, or planning for retirement, it’s important that we understand our finances, both short term and long term.
A recent USA Today article, “Women’s financial power grows faster than savvy,” discussed that while women are becoming more financially independent or are becoming more involved in financial decisions, their knowledge and comfort with finances has not kept pace with the responsibilities. Anxiousness and lack of confidence in managing investments can prevent women from taking the next step towards financial knowledge.
I remember when I first starting handling my finances in college. My eyes might have glazed over a bit when all those prospectuses (prospecti?) started showing up in the mail. Proxy votes, gain/loss statements, and exercising options just sounded like some sort of accounting mumbo jumbo. I had stacks of papers to read and didn’t know why they were important. Over the years, I’ve asked questions, read articles, and have become more confident in dealing with finances.
Fortunately, it’s easier than ever for women to learn about investing, financial planning, and long term care. Genworth Financial offers several resources that you can use to help educate yourself about finances. They offer tips for different ways you can plan for your future, no matter what age you start, finding a financial advisor, and more.
Even if you aren’t responsible for managing finances now, it’s still important for you to be knowledgeable enough to make decisions if needed. While there’s a lot of information out there, the more you know, the better you can plan for your financial future.
How comfortable are you with handling yours/your family’s finances?