Today, we see women leading at every possible front, from CEO to Head Physicians to Governor.
We are now more informed, educated, and confident to make our own decisions than ever. We are masters of multi-tasking with juggling careers and households at the same time.
Financial literacy is important for all people, but especially for women because we earn less, we go in and out of the workforce, we make up the majority of caregivers, and since we live longer, we face additional costs including more long-term and overall healthcare expenses. Financial literacy and planning for women is a critical aspect for us to reach our personal as well as professional objectives, without being dependent on anyone.
Financial literacy is an essential ingredient for every women’s life-skills toolkit. The capacity to assess and understand what will have positive or negative financial outcomes in a fast-paced consumer society is crucial. Ensuring that women have the knowledge to manage our money and financial risks effectively will not only help women to avoid financial pitfalls, it will give us a solid foundation to make confident choices about how you live your life.
One of the biggest reasons why women need financial education is to be financially independent. With a sound plan, we can march confidently towards our personal and professional objectives without worrying about the financial implications. Also, it prepares us for any crisis in the future as well as saving for retirement.
It is high time for all women to take an active role in financial planning and take control of our finances. It is the first step towards achieving financial independence.
You can take action today in changing your financial trajectory by starting with a few simple steps:
- Learn your credit score by getting a free annual credit report at AnnualCreditReport.com.
- Keep a record of your personal debt; by writing down paid debts, you can track your progress and celebrate small victories.
- Make a budget; paying off debt will be easier once you start setting limits for yourself.
The Women’s Center of Greater Lansing hosts a variety of financial literacy workshops. Join us on Thursday, February 20th at 6 pm to discuss the importance of credit. Click here to learn more about it!