Women, Money, and PowerSubmitted by Margaret Bennett on November 28th, 2016
I’ve had a hard time accepting that the most qualified candidate in decades did not win the US Presidential Election this week. The person had experience, showed a history of listening and inclusion of different voices, was competent, was calm. And the person was a woman. Hillary Clinton was not shy about her desire to be President, and despite her qualifications, she did not get the promotion she was after. There is so much I can say, but I don’t want this to be about politics. I want this to be about women and I want this to be about women gaining power through financial control. Research shows that women’s tendencies make them good investors so let’s seize this time to be confident, competent, and financially empowered so that we can gain power in other areas of our professional and personal lives.
As I’ve said time and again, regardless of your relationship or employment status, women need to take a seat at the financial planning table. The reality is that most women will need to manage their own finances at some point in their life. Women in our society increasingly have more control of wealth, and will inherit even more in the coming years as the wealth transfer takes place. We know that when women make money they lift their families out of poverty and better their communities. All the more reason to educate ourselves when it comes to personal and professional finances.
I love working with all my clients, but I take particular pride in working with women to reach their goals in life, work, business, and finances. I have had some warming “success” stories this year that reinforced why I do what I do to help women take financial control. I’m so proud of these women and today I wanted to share some resources to help women to take financial control of their life, business, and finances (in addition to the ones I just linked to in this paragraph):
- Setting up your budget – become aware of where and how you spend
- What are the questions you have to be able to answer about your family’s finances?
- How do we talk about money when it comes to negotiating your salary (the hardest thing for me when I had a salaried job)
- Shattering the myth that men should be the primary breadwinners
- What goes into your Credit Score?
- Insurance for business owners – who is paying your rent, salary, expenses, etc. if you can’t work?
- General Money Advice for Canadians
- Funding resources for women entrepreneurs to get started
- Book: Money, A Memoir. Women, Emotions and Cash by Liz Perle (note, I have not read this but it was recommended to me)
- Why women’s investment styles can be advantageous to your portfolio
- Taking control of budgeting and spending with Gail Van Oxlade
Having financial confidence and control is a very important thing for us all to have. It helps traditionally marginalized people to increase their social and economic power and thereby create more diverse, inclusive societies. Women have traditionally earned less than men and been in a more financially vulnerable position, so let’s change that. Let’s advocate for our earning potential, let’s save and invest proudly, and let’s educate ourselves to increase our social and economic power through greater financial autonomy and control.
We all have a role to play when it comes to money, business, and personal finance. Let’s take it on.