FORT LAUDERDALE, Florida – March 6, 2020 – (HISPANICIZE WIRE) – International Women’s Day (March 8) is a global day celebrating the social, economic, cultural and political achievements of women. Debt.com believes this is a perfect time to remember that as a woman you need a personalized financial strategy that helps you avoid issues and reach your goals.
As a call to action, Debt.com created a money management for women section designed to address women’s desire to learn about personal finance on their own and in private. Experts cover topics including budgeting, simple investment opportunities and retirement planning.
How to be financially successful at every stage of your life.
There aren’t different rules for women when it comes to personal finance and money management, but there are certain challenges that women face throughout their financial lives. Knowing what those challenges are can help you plan and create effective strategies for reaching your financial goals.
A recent survey found 53% of women were primary breadwinners. However, only 23% of those felt equipped to make financial decisions.
With that in mind, Debt.com lists helpful tips women can apply during every financial life stage, including:
- Financial Life Stage 1: Money management for school
- Financial Life Stage 2: Entering the workforce
- Financial Life Stage 3: Merging finances & building a family
- Financial Life Stage 4: Retirement
- Dealing with the financial detour of divorce
Learn more at: Guide to women’s finance
Women and men: are we closing the gap?
Unequal pay will hurt women for their entire lifetime – not just while they are working.
Women earn 80 percent of what men do, says a survey of 6,300 U.S. workers. That income disparity takes a toll on their retirement savings outlook. Also, important to note that women live longer than men plus they tend to be primary caregivers. Ladies are falling short of how many years they will need retirement money for – and underestimating how much they’ll need each year. Circumstances like taking care of children or sick or elderly family members makes things even more complex.
In addition to earning less than their male counterparts, women are investing their income at lower rates. More women struggle with investing.
If we don’t close the gap, women will be worse-off in retirement than men.
“Despite living in an age of empowerment, the majority of women still waive their participation in long-term financial decisions,”says Debt.com chairman Howard Dvorkin, CPA. “The consequences of abdicating responsibility for long-term financial decisions lead many women to struggle after divorce or the death of their spouses.”
Despite all the odds against them, women can still save for a better retirement. Check out Debt.com’s guide to saving for retirement.
If you have any questions or you need help, call us. We can connect you with the right professionals to address your concerns and help you find solutions.
Debt.com is the consumer website where people can find help with credit card debt, student loan debt, tax debt, credit repair, bankruptcy, and more. Debt.com works with vetted and certified providers that give the best advice and solutions for consumers ‘when life happens’.
Christine Burton // CBurton@debt.com // 954.377.9695