Women and Money: Building Wealth and Banishing Fear

HOW TO BUILD WEALTH & BANISH FEAR
Women & Money

Join our #CreditChat every Wednesday at 3 p.m. ET.
This week, we talked about how women can build wealth and
banish fear.
ex.pn/womenmoney

What money issues are unique to women?
#CreditChat
Wednesday | 3 p.m. ET

#CreditChat
“Women earn less money but live longer than
men. This impacts their retirement savings.”
- @AirForceFCU

#CreditChat
“Different health concerns, pregnancy, wage
gap, staying at home with the kids vs.
continuing to work.”
- @MiriamSCross

#CreditChat
“Personally, a big point of anxiety is finances +
having children. Return to work after baby, go part-
time, stay at home?”
- @MrsAmandaReed

#CreditChat
“Women are more conservative, live longer, work
less and have the wage gap against them.”
- Cary Carbonaro, CFP and author of
@moneyqueenguide

Is there a confidence gap that may be affecting
women financially?
#CreditChat

“According to research by Anthes & Most, women are
more intimidated than men about financial issues.”
- @AirForceFCU
#CreditChat

“Women are great at saving money, but
traditionally, less confident investors - definitely
changing though.”
- @kevincswanson
#CreditChat

“The wage gap is a huge factor” affecting
women’s financial confidence.
- Gary Stockton
@expgstockton
#CreditChat

#CreditChat
“There is a confidence gap. Most are not
comfortable with financial literacy, we need
to close that gap!”
@moneyqueenguide

How can young women become financially
independent when they enter the workforce?
#CreditChat

Young women entering the workforce should “live
below their means and take full advantage of
workplace retirement programs like 401(k)
plans.”
- Kelley Long, CPA/CFP
@kclmoneycoach
#CreditChat

“Seek out a financial mentor that can help
explain work benefits and basics like
budgeting.”
- Mina Ennin Black
@WealthwithMina
#CreditChat

“Plan on being independently wealthy - don't
count on a man to provide for them. Get control
over your money.”
- @JoannaZarach
#CreditChat

#CreditChat
“Women can start becoming financially independent
by negotiating their salaries, and budget so they
spend less than they make and start a 401k ASAP. ”
@moneyqueenguide

#CreditChat
“Never ever live outside your means. When you start
earning a salary, live and spend realistically. SAVE.
Budget.”
- @MrsAmandaReed

How can women remain financially
independent in a relationship?
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#CreditChat
Women can remain financially independent in a
relationship “by building their own credit history
and not relying on their partner.”
- @SelfLender

“Take an active role in handling money. Don't be
in the dark about what's going on with your
finances.”
- @FedChoiceFCU
#CreditChat

#CreditChat
“Women can remain financially independent by keeping
their own bank accounts and credit cards. They should
make sure they can pay all their bills if the relationship
ends.”
@moneyqueenguide

“I think most women pay the bills, but forget
about planning for retirement or problems within
their relationship.”
- Sasha Grabenstetter
@Pennies4Pigs
#CreditChat

How can women ensure they are being
smart with their credit?
#CreditChat

#CreditChat
“Control financial aspects exclusively yours e.g.
credit and retirement. Have individual
emergency funds.”
- @AirForceFCU

#CreditChat
“With women living longer than men, financial
independence on their part is key.”
- @kevincswanson

#CreditChat
“Monitor their credit score, pay off credit cards in
full and on time, use tools like #CreditChat.”
@moneyqueenguide

#CreditChat
“Have your own credit history - own major assets -
know how credit works - and be responsible with
it!”
- @JoannaZarach

#CreditChat
“Learn to differentiate wants and needs. Set
your own standards and limits. Yourself worth
isn't determined by possessions.”
- Andie
@moneyinmy30s

How does a woman’s role as caregiver
impact her financially?
#CreditChat

#CreditChat
“A woman’s role as caregiver keeps her out of the
workforce which lowers her social security and
lifetime earnings.”
@moneyqueenguide

#CreditChat
Being a caregiver “often means breaks in career
and lower lifetime earnings & contributions to
retirement.”
- @AirForceFCU

#CreditChat
“Women feel it's their responsibility, but
taking days off or working part-time to do so
impacts their finances long-term.”
- Andie
@moneyinmy30s

What are the biggest money mistakes
women make?
#CreditChat

#CreditChat
“Not paying yourself first and relinquishing
control of the finances to their partner.”
- @navicorePR

#CreditChat
“Biggest money mistakes: Relying on a man,
too much cash instead of investing, not
enough savings, not budgeting, and putting
others before herself.”
@moneyqueenguide

#CreditChat
“Trusting someone else to take care of them -
and letting go of control of their money - also
losing their earning power.”
- @JoannaZarach

#CreditChat
“Not seeing the ‘big picture’ of their finances e.g for
retirement, divorce or death of their spouses.”
- @AirForceFCU

What is longevity risk and how does it
pertain to women?
#CreditChat

#CreditChat
“Women live much longer than men. They should
be saving more than men, not less.”
@moneyqueenguide

What are some smart ways women can
approach investing?
#CreditChat

#CreditChat
“Match their employers contribution to their 401(k)
or other retirement vehicle.”
@Pennies4Pigs

#CreditChat
“Women are good at researching; start by
researching different investments and don't be
afraid to ask questions.”
- @kevincswanson

#CreditChat
“Hire a financial planner but be careful in choosing
who will take care of the investment portfolio.”
- @AirForceFCU

#CreditChat
“Just do it! Don’t be afraid, start small,
diversify and have a long term view.”
@moneyqueenguide

Any final tips to help women build wealth
confidently?
#CreditChat

#CreditChat
“Set a goal, no matter your income level and
stick to it! Plan for you!”
@Pennies4Pigs

#CreditChat
For a wealth confidently “save for emergencies,
for life happens + for #retirement. Always invest
(pay) yourself first ladies.”
- @ubiquitysavings

#CreditChat
“Financial literacy is the best place to start
building wealth! Hire a CFP or a Wealth Advocate
for you to help you with your journey.”
@moneyqueenguide

#CreditChat
“Think about short-term and long-term goals, plan to
reach each one – overestimate your money needs” to
achieve wealth confidently.
- @AirForceFCU

“Invest in what you know, companies whose
services you use.”
- @kevincswanson
#CreditChat
Wednesdays | 3 p.m. ET

#CreditChat
Check out all the resources and tips shared:
ex.pn/womenmoney

#CreditChat
Join Us Every Wednesday at 3 p.m. ET.
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Women and Money: Building Wealth and Banishing Fear

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