We’ve all been hearing the stereotype for decades: Men are better with money than women. However, while recent studies have shown that men manage credit cards and pay their bills on time more often than women, women are catching up and are taking control of their finances.
Here are some quick money management tips for women:
Credit Cards. Let’s go back to the point outline above: Men are better at managing credit card debt than women. While there might be a few reasons for this, this is most likely because women are more apt to shop than men. Of course, most men would be the first to admit to running out and buying a new TV before the Super Bowl, men are less likely to go on shopping sprees and relying on credit cards to fund the experience.
So, ladies, the next time you get that urge one night after work or a Saturday afternoon to “shop until you drop”, try to avoid relying on credit cards to do so.
Worrying Doesn’t Solve Anything…or Can It? When expressing money woes and financial concerns, the response we most often here is: “Stop worrying about money.” While money isn’t the most important thing in our lives, it is still essential for our future. Worrying about money might spark a change inside each of us to make a difference, to make better financial decisions, and to plan for emergencies.
Are more women worried about money than men? It is possible. However, if you are worried about money, then you should be…because something isn’t right and it requires a solution.
Learn from Your Mistakes. Regardless of gender, we’ve all made financial mistakes in our lives. Maybe we didn’t establish a savings or retirement account at an appropriate age, maybe we went on too many shopping sprees, or maybe we ended up with too many assets than what we can handle. Regardless of the mistake, it’s important to learn from it.
You Go, Girl. While you should worry about money, as mentioned above, it’s not necessary to beat yourself up over it. Learn from your financial mistakes, and move on to secure a better financial future.
The most powerful and successful women in the world know how to manage their money. Even if managing money isn’t your strong suit, it’s important to find out exactly what is that you struggle with, learn from it, and become your own financial expert.
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