When writing It's Rising Time!, I discovered some interesting information about women and money:
- "Between one third and two thirds of women now aged thirty-five to fifty-five will be impoverished after age sixty-five if they do not immediately start to prepare financially for their later years," according to Dr. Christopher L. Hayes, Founder and Executive Director of the National Center for Women and Retirement Research.
- A study in Britain reveals that, "59% of wives would leave their husbands if they could afford it!"
- The latest, U.S. Census Bureau indicates that of the adults over age 65, approximately 3, 416,933 males live alone while about 8,078,398 females live alone, and…
- "Out of the estimated 46,215,956 people in the U.S. living below the poverty line, approximately 25 million of them are women and 21 million are men."
The statistics do not look good for women and money.
Researchers indicate that many of these results stem from our nurturing instincts. Dr. Hayes and author Kate Kelly believe that, "women's decision-making tends to be based on security and concern for others."
But the question is…
How can you take care of others if you don't take care of yourself?
It's just like the flight attendants say before take-off… "Secure your own air mask before helping your children with theirs."
With this in mind, it's time to take control and get a financial education.
What's Holding You Back from Financial Freedom?
Studies indicate that women do not pursue their dreams of financial freedom because they lack time and knowledge and are simply overwhelmed by all the information out there.
But are these good excuses? Of course not!
- No time?
Everyone is busy with work, family matters, chores, school, fun activities, and more. It's a matter of making your financial education a priority. And with current, economic conditions, it's a necessity that affects your entire family and overall well-being… so set aside some time in your schedule each day devoted to learning.
- No knowledge?
It's not difficult to increase your financial literacy. Start by reading the content on this site and using the free resources we have here. Figure out what you need to learn, and get the support of experts, peers, family members, and others to help you move forward.
- Too Much Information?
There is a lot of information available. A good way to begin your financial education process is to learn basic, financial words and definitions first.
Start reading newspapers and magazines, watch television and Internet shows, and listen to radio programs about money. You'll start to become more knowledgeable and be able to prioritize the information that is important to your financial freedom dreams.
Are you Making Excuses?
If you are depending on others for your financial well-being, ignoring economic conditions and making excuses, current research indicates your chances of enjoying financial freedom are slim.
With this in mind, make learning about money a priority today. Get the financial education you need to succeed, and most important, take action on what you learn. Then, excuses will be a thing of the past, and you'll have control over your finances no matter what happens in the future.
We're here to help! Learn more about financial freedom via our Resources Page here and my new book, It's Rising Time!. We are also having a live stream event today at 1:00 p.m. Eastern time. Check it out here.