Care That Women Should Have With Their Finances

Women earn less, live longer, save less, and when they reach retirement age they have lower pension values. See kkesai.net

Generalizations aside, it is inevitable to say it: men and women do not have the same relation to money. The female audience tends to be more averse in dealing with financial matters and delegate these issues to another person, usually the husband. This trend can be explained by several reasons. One of them could be the wage gap between men and women that still stands today. According to data from the European Commission, revealed on Wage Equality Day, men earn 15.7% more than women.

women and their finances

The numbers are worrying, especially given that more and more women are a fundamental pillar of the family budget, meaning that the couple hardly “survives” without the income of both members. But there are other numbers that play for and against women, such as the average life expectancy: women live longer than men. Currently, the average life expectancy of men is 76.43 years and 82.30 years for women. This means that women should save more for retirement years.

The risk of poverty is also higher among women than in men. According to the report of the Commission for Citizenship and Gender Equality (IGC) report for 2011, the risk of poverty covers 18.4% of the female population, slightly more than the 17.3% poverty risk in the population. The difference is more pronounced in the age group above 65, where 21.8% of older women have an annual income below the poverty line. But it is among single-parent families, led by women, that this risk has become more pronounced.

In short, overall, women earn less than men, they live longer, they save less, and when they reach retirement age, they not only have lower pension values, but still have less money saved. These numbers are not intended to demoralize but rather encourage women to cope with this aversion to money and take control of their finances. In this way, and because tomorrow is celebrated International Women’s Day, here are some tips to move in that direction.

1. Care: Take Control of Money

Control of Money

The goal is to get to know the course of your money: how much you earn, how much you spend, where you spend, how much you save and in what products you invest. That is, you should make a family budget. Read the ” Budgeting Guide “.

2. Learn more about investments

Investments

Get over this aversion to money. Read newspapers, magazines or websites: Know the product before investing, evaluate if it fits your profile. Once you decide where to invest, regularly check your portfolio. Reinvigorate capital gains on investments rather than let them “sleep” on the current account. If necessary, get help from a financial manager.

Leave a Reply

Your email address will not be published.