Posted on: 20th October 2020 in Women's Finance
Our ‘women in finance’ series focuses on the financial issues that women face.
From gender equality in the workplace to financial planning, this series takes an in-depth look at key topics of discussion.
Everyone should have a good financial plan, but it’s even more important if you’re a woman.
Women are living longer than men and are more likely to be the primary caregiver to their children. With the gender pay gap still growing, it’s essential that women and financial planning are seen as interchangeable.
There are many reasons why so many women typically find it difficult to plan financially for the future. The main issues are:
It’s worrying that in this day and age, financial inequality between genders is still very much there. Even though there are schemes in place throughout many industries to even this out, it’s a real problem. It’s a particular problem for women reaching retirement age, who had lived through times when gender pay gaps were even more severe.
It’s important for everyone to plan their finances, but there are several factors which mean it’s even more critical that women take care of their financial future.
Financial planning for women doesn’t have to be complicated, and there are many things you can do to ensure you have a secure plan. Whatever your income or situation, there are a few essential things you should have in place:
Even if as the female in your family, you have the higher salary, financial planning is still important. You need to protect your income and assets. Here are some things you might want to consider:
Women and financial planning can sound complicated, but it’s really quite simple. Whatever your income or situation, most of it is common sense.
As women, there are often more things to consider. Just remember, good financial planning doesn’t need to cost anything and could save you a lot of stress in the future.
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