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Women View Investing as ‘Too Risky’ — It’s Holding Them Back From Building Wealth

A recent GOBankingRates survey asked men and women to describe their feelings about investing, and while 39% of women said it’s a great way to build wealth, 28% said “It’s way too risky.” Meanwhile, only 18% of men view investing as “too risky.” In this “Financially Savvy Female” column, we’re chatting with Megan Slatter, wealth advisor at Crewe Advisors, about why women are more likely than men to view investing as risky, why women should be investing and how they can do so while mitigating risks. Read Next: 401(k) Growth Potential: Ways to Double Your Savings in 10 YearsCheck Out:…

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A Focus On Your Money

5 Costly Mistakes Women Make With Their Money

Many women are making proactive choices to better manage their money, including making smart purchases (31%), successfully managing their household’s finances (27%) and being financially independent (26%), according to a recent Fidelity study. On the other hand, women also admit to making some costly mistakes when it comes to how they handle their finances. Find Out: 10 Expenses Most Likely To Drain Your Checking Account Each MonthLearn More: 6 Genius Things All Wealthy People Do With Their Money In this “Financially Savvy Female” column, we’re chatting with Lorna Kapusta, head of women and engagement at Fidelity, about the most common financial mistakes women make…

By Gabrielle Olya

Why Women Making $100K+ Are Stressed About Money

Most women are stressed about money — even if they make a high salary. A new Fidelity study found that overall, 57% of women are stressed about their finances, and 93% are stressed about managing their money. That high latter percentage held true no matter what income bracket women fell into — 93% of women who earn less than $50,000 are stressed about managing their money, 95% of women who earn between $50,000 and $100,000 are stressed, and 92% of women earning over $100,000 are stressed. In this “Financially Savvy Female” column, we’re chatting with Lorna Kapusta, head of women and engagement at…

Why Monthly Bills Are Women’s Top Financial Stressor

It’s the everyday expenses that stress women out the most. According to a recent Fidelity study, monthly bills are women’s No. 1 financial stressor (55% are stressed about it), coming in ahead of inflation (49%), being about to cover an emergency expense (42%), debt (39%) and having enough money to enjoy day-to-day life (37%). Find Out: How Much Does the Average Middle-Class Person Have in Savings?Try This: One Smart Way To Grow Your Retirement Savings in 2024 In this “Financially Savvy Female” column, we’re chatting with Lorna Kapusta, head of women and engagement at Fidelity, about why so many women are stressed…

What Boomer Women Say They Would Do With a Financial Windfall

While the impending “Great Wealth Transfer” refers to the passing of wealth from boomers to younger generations, there is one step in between. Because women tend to outlive men, wealth will first be transferred to boomer wives in heterosexual marriages — and these transfers of wealth can be very significant, or even life-changing. According to a recent Ellevest survey of more than 2,000 affluent people across the U.S., 45% of women either had received or expected to receive a financial windfall, with the typical amount being around $300,000. As for what these women have done or plan to do with…

Women and the Workplace

This Is the Salary Women Say They Need To Be Happy in 2024

When asked about the salary needed to be happy, women are more likely to be content with less. A recent GOBankingRates survey found that 30% of women would be happy making $50,000 or less versus 25% of men. Additionally, just under half of all women (49%) would be happy making $65,000 or less. In this “Financially Savvy Female” column, we’re chatting with experts about the salary women actually need to be happy, and why women tend to have a lower threshold for happiness when it comes to income. Read Next: 12 Key Ways the Rich Multiply Their WealthFor You: 6…

By Gabrielle Olya

Women Are Less Likely To Use AI in Their Careers: 2 Ways To Use It Now

Artificial intelligence can be an invaluable tool for your career growth when used correctly, but many women seem hesitant to embrace this new technology. A recent FlexJobs survey found that more than half of men (54%) are using AI in either or both their personal and professional lives, while only about one-third of women (35%) are currently using AI. In addition, 60% of men said they either already have or are considering using AI for job applications, but only 46% of women said the same, and 21% of men have used AI tools on their job applications, while 15% of…

2 Factors Stopping Women From Climbing the Career Ladder

The number of women in leadership positions in the American workforce has increased by just 1% in the past six years, from 36% in 2016 to 37% in 2022, a recent LinkedIn analysis found. The analysis also found that women are less likely to make the climb from entry-level roles to leadership positions, even in fields where they hold the majority of positions, like hospitality and administrative services. Suze Orman: 8 Urgent Tips for Surviving the Looming Recession Learn: How To Build a Financial Plan From Zero So what’s holding women back? The analysis posits that two major factors are…

Good News: The Gender Wage Gap Is Narrowing Among Gen Z

The gender pay gap has barely narrowed in two decades, a recent Pew Research Center analysis found. In 2002, women earned 80% of what men earned and in 2022, they earned 82% of what men earned. Read: 6 Investments Everyone Should Make During an Economic DownturnFind Out: How To Build a Financial Plan From Zero While these stats may be disheartening, there is one glimmer of hope — the wage gap has been narrowing significantly among young workers. The analysis found that among older Gen Z and younger millennial workers — those ages 25 to 34 — women currently earn 92% of…

Relationships, Family & Finances

Newly Married? Here’s How To Build Wealth as a Couple

We’re currently in the midst of wedding season, which means many couples will be saying their “I dos” and officially merging their lives together. This also means that many couples will be navigating their finances together for the first time. Having frank conversations about money and wealth-building strategies early on can help couples navigate financial highs and lows down the line. See Our List: 100 Most Influential Money ExpertsRead: How To Build Your Savings From Scratch In this “Financially Savvy Female” column, we’re chatting with Cindy Scott, CFP with Schwab Intelligent Portfolios Premium, about how newly married couples can work together to…

By Gabrielle Olya

Why Dating Your Financial Opposite Could Be a Good Thing

We all know that opposites attract, but we usually think of this as a bad thing when it comes to financial opposites. However, this isn’t necessarily the case — a saver and a spender could make for great partners if they use their differences to their advantage. Discover: 11 Grocery Items To Buy at Dollar TreeFICO Figures: 3 Signs You’re Serious About Raising Your Credit Score In this “Financially Savvy Female” column, we’re chatting with Lindsay Bryan-Podvin, a certified financial therapist and a partner with MetLife’s financial wellness app Upwise, about why dating your financial opposite could actually be a good thing. What are…

Money Questions To Ask Your Partner

In this “Financially Savvy Female” column, we chat with YouTube creator and financial expert Aja Dang about the money questions women should be asking their partners and why asking these questions is so important. Talking about money can be awkward, and it can be an uncomfortable topic to broach for the first time when you’re in a relationship. But making sure you and your partner are aligned when it comes to your attitudes about money and financial plans is important for the long term, so these are conversations you shouldn’t be putting off. See: 5 Kitchen Appliances That Just Aren’t…

Here’s How Much You Need To Budget for Child Care

Having children is a magical and rewarding experience. However, parenthood is not all rainbows and sunshine — it comes with significant financial responsibilities. Student Loan Forgiveness: Is a ‘Forever’ Payment Pause Possible? FICO Figures: 3 Signs You’re Serious About Raising Your Credit Score One of the biggest expenses parents have to budget for is child care, which includes daycare, nannies and babysitters. Knowing how much to budget for these costs can help make parenting easier on your wallet.  Why Is Child Care Becoming More Expensive? According to a recent survey by Care.com, 63% of parents report child care has become…

The State of Women & Money

What Is the State of Women & Money?

Women have been making major strides in the worlds of personal finance and careers. A recent LendingTree analysis found that single women now own more homes than single men. And in January, Fortune reported that women CEOs run more than 10% of the Fortune 500 companies for the first time in history. Still, the gender pay gap persists and women continue to be less likely to invest than men — even though data has shown that they tend to be better investors. $2,000 Quarter? Check Your Pockets Before You Use This 2004 CoinSee: With a Recession Looming, Make These 3…

By Gabrielle Olya

These Are the 4 Top Money Stressors for Women

GOBankingRates’ 2023 Women & Money survey asked over 1,000 American women about their biggest sources of financial worry and stress — and the No. 1 stressor wasn’t saving for retirement or paying for emergencies, but merely having enough money to get by on a day-to-day basis. Find Out: Why Stealth Wealth Is the Best Way To Handle Your MoneySee: How To Guard Your Wealth From a Potential Banking Crisis With Gold In this “Financially Savvy Female” column, we’re exploring all of the top money stressors women face. We also chatted with Lisa Jones, managing director and financial advisor at Prime…

Impulse Shopping, Food Delivery & More: Young Women’s Worst Habits

Would you be able to guess what women say are their worst money habits? Key findings in GOBankingRates’ women and finances 2023 survey highlight financial habits that women said rank among their worst. Let’s take a closer look at the money habits that top their lists, especially among young women, and tips for how women can break free of these habits. Do You Have a Money Question? Ask an ExpertDiscover: 3 Ways to Recession Proof Your Retirement Here are the bad money habits topping the list for young women’s worst financial foes. Which Money Habits Do Women Consider Their Worst?…

1 in 3 Women Avoids Their Finances: Why This Is a Mistake

How would you describe your relationship with money? In GOBankingRates’ women and finances 2023 survey, key findings revealed nearly one in three women avoids thinking about or dealing with their finances. Thinking about personal finance may not be as enjoyable as taking a vacation or enjoying a spa day, but it’s necessary in order for women to establish a healthy relationship with money. Let’s look at why it’s a huge mistake for women to avoid thinking about finance and what they can do to make it easier to manage their finances. Do You Have a Money Question? Ask an ExpertMore:…

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More From the Financially Savvy Female

Women View Investing as ‘Too Risky’ — It’s Holding Them Back From Building Wealth

Experts: How Much Women Should Invest In Their Retirement in 2024

5 Costly Mistakes Women Make With Their Money

Women Making More Than $100K Are Stressed About Money: 3 Proactive Steps To Take

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