Women face unique financial problems.
The pandemic wiped out the plans for many women. Women are choosing to leave the workforce in order to provide the child-rearing and other caregiving needs of their family. Other women are working at home and attempting to balance more house work, more demands made with childcare, more demands from schoolwork, and a more stressful work environment too.
Add to this three fundamental, long-term general truths about women and money:
- Women usually live longer than men.
- Women tend to save more but to invest less.
- Ultimately, this compounds, and women tend to have less money than men.
6 Steps for Financial Resiliency
In the Lunch and Learn Presentation, Marla and Stacey provide many insights and share their perspectives from years of experience working with women and money. Here is a preview of their process:
- Take a step back. What are your beliefs about money?
- Gain awareness of what is working for you, what is just plain unhealthy, what means the most to you.
- Financial education. Learn and become empowered.
- Take an inventory of your assets and your cashflow.
- Get strategic with the big issues. Dare to go there!
- Stress test your plan.