Recently, Maria Shriver from the TODAY show, reported a wonderful series of stories about the struggles women faced and how they overcame them. One statement she made really resonated
with me and succinctly articulated what I have been trying to instill in women for years.
“Women, empowerment is not selfish, it is a necessity”.
Overall, women tend to really shy away from taking masterful control of their financial lives.
Typically, in a relationship, it is often the male partner who manages the money and makes the investment decisions. When I was growing up, mom handled the bills and household expenditures,
but that’s where her financial management ended. This is still very common today, even though women work, have careers and families, and sometimes earn more than their male counterpart. Many amazing women also run solo raising kids, working several jobs, and juggling household chores. Still, we often let money control our lives because we give it all the power, instead our lives should be controlling our money.
I know, easier said than done. Well no one said it was going to be easy. In fact there isn’t too much that today’s woman can say is easy, but to use an old cliche from “Virginia Slims”, “You’ve come a long way baby”. Women are incredible survivors, maybe even warriors at times.
As I have written in other articles and actually cover in depth at our Savvy Women classes, there are many reasons for this behavior which I won’t go into here. The sad thing is that this lack of participation or interest in our finances can plunge a woman into financial crisis with one job loss, family illness, divorce or premature death.
It doesn’t have to be like that.
Women can re-write the script. Although we cannot control all the things that life throws our way, we can and should be better prepared to deal with some of them.
If there is one quality that truly defines today’s woman it is tenacity.
By definition, tenacious means “holding together, cohesive; not easily pulled asunder; tough”. Women.
So what’s a girl to do? Get the power! Decide to take back control by learning and understanding how your money can work for you so it’s not all about you working for your money. It doesn’t matter if you are comfortably well off or you are a struggling single mom, stop letting money define who you are and determine your happiness.
There are three things you need to do immediately:
- Do the work of tracking your spending needs-everything. This may surprise you.
- Get educated in the basics about personal finance. There are great articles and podcasts from radio shows on our website. Also consider attending our Smart Money Strategies group discussions and/or classes.
- Ask for help. Work with an advisor who gets what it means to be a woman dealing with today’s challenges. Beware of knights in shiny armor who may just see your vulnerability and an opportunity for their own personal gain. How do you know? Ah, here, women have a secret weapon; your INTUITION. Trust it. She’s your best friend.
Call, write, email us, we’re here to help. Be prepared to hear the truth.
Visit our website at www.FFFGonline.com for great information, original articles from a woman’s perspective, register for upcoming events, and learn more about our unique “Savvy Women’s Club”.
Or call us at 888-685-7237.
Kathleen A. Nolan is an Investment Advisor Representative. Investment Advisory Services offered through Global Financial Private Capital, LLC, and SEC Registered Investment Advisor. Neither Kathy A Nolan nor Global Financial Private Capital gives tax or legal advice. Kathleen Nolan also holds a New Jersey and Florida Life & Health Insurance License.