I don’t have a daughter but I am a woman and in my line of work as an attorney I deal with primarily women in my practice so I feel like this topic is an important one. Please each your daughters about financial literacy! It’s important for women to be able to stand on their own as you never know when there might be a tragedy where the person who normally takes care of the finances in the relationship or the family will no longer be there.
I think about my own family where my mother handled all of the finances (as I do now in my family) and how there are a lot of families that are not like this. I meet women every day who have no idea how much income comes into their homes or anything about expenses, assets or debts. I am all for dividing up the household tasks but I think everyone needs to be aware of their financial situation.
This financial guide for women from Genworth is super important for all women to review.
This Time article is chock full of information and I wasn’t surprised at all that 60% of women rate their investing skills below average. I might not be a skilled investor either but I do understand how finances and investments work and if I needed to handle investments I could with a little research. It’s so important that we act as role models for our daughters and other women in our lives. I have helped several of my clients learn about balancing checkbooks and making a budget once they were separated from their partner as they had never had these responsibilities before.
So women teach your daughters (and other women in your life) to understand and be responsible for their own financial situation. It’s completely acceptable to divide tasks as a family but everyone should have an understanding of financial literacy for their own good!
Check out HOT Amazon deals on your favorite items!