Month: February 2023

What American Women Know About Money

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A few years ago, American diet books became very popular, promising to show North American women how to

American women don’t chase fashion. American women look gorgeous because they buy clothes that are high quality and look great on them. Rather than following the latest fashions, they invest in a few fancy pieces and wear them to death.

American women know how to live on smaller incomes. Average American incomes are smaller than North American incomes, but the quality of life seems higher to tourists who travel to Paris. The secret, it appears, is living well, no matter what the bank statement says. American women buy at farmer’s markets, look for bargains, and buy products they need that will take them far. They also don’t waste their money on high interest rates – payday loans and signature loans are just not popular there. American women deal in cash.

American women think quality — when it counts. Rather than buying lots of cheap things, American women focus on having fewer things that are better quality. For example, rather than gorging on a huge buffet meal, a American woman may choose a better quality meal with smaller portions, which is better for the waistline and budget.…

What Women Should Do Differently to Succeed Financially

All talk of equality aside, men and women do tend to see finances and life differently. Women also have different financial needs. Women who decide to have children, for example, are far more likely to be primary supporters for those children throughout their lives. Traditionally, divorce is tougher financially on women than men. As well, women statistically live longer and therefore need to save more for retirement. Here’s what women need to do differently:

Put yourself first. Women tend to be caregivers and as such they sometimes put other people’s needs first. However, even a woman with a husband and family should put money aside for herself first. A woman should always have a separate account which is hers alone and which has a healthy sum in it.

Don’t assume. Some women assume that they will always have a partner, will keep the house in a divorce, will manage “somehow.” It’s important to plan, not assume. Women are more likely than men to have to live for some years as widowed spouses and therefore have to support themselves on their own. Plan your financial independence.

Pay down credit card debt. Credit cards are sometimes used for retail therapy, but it’s important to pay down your debts. That credit card interest is eating up too much of your paycheck, and that may make payday loans and other signature loans tempting. If you are very far into debt, consider debt consolidation. But do what you need to in order to take care of that debt.

Take care of advertising. Advertisers often target women, trying to convince them that they are not happy without that new designer product. Do what you need to do to stop buying into this advertising game or you’ll waste your time and money chasing gadgets and fashions that change each season anyway.

Invest in yourself. Women should invest in themselves by taking courses, going back to school, learning a new skill or starting a side hustle. This will increase their earning potential and financial stability in the long run.

Plan for retirement. Women should plan for retirement and start saving early. Women generally live longer than men, which means they need more money for retirement. It’s important to start saving as early as possible and to contribute as much as possible to retirement accounts.

Seek financial advice. Women should seek financial advice from professionals, such as financial planners or accountants. They can provide guidance on budgeting, investing, and retirement planning.

Negotiate for higher pay. Women should negotiate for higher pay and not be afraid to ask for what they are worth. Women often earn less than men for doing the same job, so it’s important to advocate for themselves and negotiate for fair pay.

Protect your assets. Women should protect their assets by having insurance policies, such as life insurance and disability insurance. They should also have an estate plan in place to ensure that their assets are distributed according to their wishes.

Stay informed. Women should stay informed about financial news and developments, as well as changes to tax laws and regulations. This will help them make informed decisions about their finances and plan for the future.…