Wednesday, August 27, 2008

Money Management for Women

Most women can manage their day-to-day finances admirably. In fact, according to experts, they are highly skilled at budgeting and finding ways to reduce spending and building up their savings accounts. This is really important, since women traditionally don't get as much money as men do. Where their skills don't match up to those of the menfolk is in the areas of investment and retirement savings. Nor do they understand financial terminology as well as men. But they are eager to learn and should make every effort to do so if they are to take full control of their financial future.

Reports show that many women don't feel that money is necessary to be happy in life. And while this sentiment is admirable, it is also likely to cause them to have less money than they need as they get older and cannot work. If women were to work on building up their confidence in investing, they would find that the stress and boredom of handling money in this way would be gone and they would soon be able to see all the benefits.

Women have gradually broken through many male dominated barriers in the past; now they need to hone their skills in the area of money management and investments. But first they must change their attitudes. Money is not the be-all and end-all of life, but we do need a certain amount of it and it is good to know the difference between a managed fund and a term deposit. And it's only wise to work towards protecting your future. Women live longer than men, so they cannot expect to have a man around into their old age to take care of finances for them.

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