Facts, Figures and Female Finances

We at MomVesting thought we'd have a little fun with facts and figures about women and finances. 'Cause, seriously, women have a lot to offer when it comes to making money, investing and starting their own businesses. We'll focus on statistics about women who have found the secrets to finances, and then we'll offer some tips on how to find and keep your own cash. So let's dive in!

Learning About Financial Management

Most high schools do not require financial management classes, and generally, many parents choose to teach only their sons about intense principals of finance. Daughters may not receive excellence in financial lessons, either at home or at school. Yet it is estimated that women will soon control over 60% of the country’s wealth.

Where does that leave our daughters? Potentially a little less knowledgeable about money than their brothers. So MomVesting challenges parents to teach their girls about finances, including advanced investing ideas.

Statistics About Stockholders

Becoming financially literate is not as painful as most women or girls (like those daughters of yours!) perceive it to be. For many women, however, the idea of wading into the pool full of finance sharks is enough to paralyze them. The good news is that women are quickly rising to the top of the financial world, and those at the top are just like you and me (except with more money).

In fact, all the way back to 1990, 49.1% of new stockholders were women. According to the IRS at that time, 42% of households with assets greater than $600,000 were headed by women. These statistics prove that women can – and do! – invest well.

Women as Business Owners and Breadwinners

Currently, over half of new businesses are being created by women. Over 52% of all the earned income in America is being brought in by women – that’s an amazingly impressive statistic when you figure in that women, on average, still get paid smaller wages than men for the same job. As it stands, women’s income amounts to more than $1 trillion per year – that's a lot of dough!

Financial Equality in the Home

Research shows that most women want to contribute more to the financial management at home; they often just don’t know how. However, the above statistics prove that when women set their minds to learning advanced money-management ideas, we can excel at finance and investment.

So how do we set our minds to becoming more financially fit? Really, we just need to take it one step at a time.

• The Asset Assessment: First, assess where you’re at financially. Determine your assets. These include your house, bank accounts, stocks, bonds and any other equitable accounts.
• The Liabilities Assessment: Next, figure out your liabilities. What debt do you owe? What monthly bills do you pay?
• The Financial Plan: Now, organize, prioritize, and conquer your finances. Basically, your plan will include ways to whittle down your liabilities while increasing your assets.
• The Implementation: Finally, implement the changes in your life that will help make your plan a reality. If you need to learn more about finances before jumping in at this point, take a few classes. Do some research. Find out about your investment options. Because when you are knowledgeable about finances, you can invest both emotionally and financially in your potential.

It is up to women to make the strides to become equal partners in the family finances and investments, but know that it is possible to find yourself "rolling in the dough." MomVesting can help you brush up on financial knowledge and take the first steps to gaining power (and cash!).

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