When it comes to planning for the future, everyone needs a financial strategy but for women it is even more critical. Over the years, women have made significant progress in the economy and the workforce and continue to make impressive financial gains. However, with all the success and opportunity for women in the marketplace, a lot more responsibility is added when it comes to money and financial decisions. Women still face many financial challenges and because of these unique challenges they need a clear financial direction to feel more in control of their financial future.
Regardless of what stage of life you are in, starting your career, getting married, buying a home, raising kids, starting a business, approaching retirement or already retired, you need a financial strategy to help you feel more optimistic about your financial future. Here is another reason why you, as a woman, need a financial strategy:
Women make 83% of the household purchasing decisions.*
According to Delia Passi, author of Winning the Toughest Customer*, “Even if the women doesn’t make the money in the household, she’s the one who spends it. Even among those who work full-time, the vast majority, or 72 percent, are still the primary shoppers for themselves, their homes and their families.”
With all this responsibility, women should have a financial strategy in place that clearly defines how much they should be spending on the household expenses. Without a financial plan, women may be over spending on some of the household purchases and not even know it. In order to save toward financial goals, women need to know where their money is going every month and a financial strategy will help ensure this. Become a Financially Wise Woman and inspire those around you to become one too!
If you would like more information on how to become a Financially Wise Woman, please request your copy of theFinancially Wise Women FREE EBook or contact me via email at Brttney.Castro@LPL.com
*Passi, Delia, Winning the Toughest Customer, The Essential Guide to Selling to Women, p.XXIV.