Women and money statistics
The Budget Central’s Women and Money section states:
“Like success, money is an emotionally volatile issue for most women. It’s probably the most complicated relationship we have—and the one that most controls our lives because we let it.” Sara Ban Breathnach, author, Simple Abundance [Ponn: oh so true.]
The statistics speak:
- Of the “5 Most Expensive Mistakes Women Make” (Sept. 1995, Working Woman Magazine)
#1: Assuming you current financial status is permanent, [Thoughts: not me.]
#2: Paying too much for convenience, [Thoughts: not me.]
#3: Not using a budget, [Thoughts: not me. I use my own, but not a formal written one.]
#4: Waiting for the right time to save, and [Thoughts: not me, we're always in the red, alhumdulilah.]
#5: Fearing the wrong risk. [Thoughts: not me...we learn from failures, so just make and try educated, calculated risks, insha'Allah]
[Thoughts: My problem? Convenience to hand over to hubby...hence, not a priority! I'm surprise this is not in the Top 5...probably it's #6 then.]
- Only 12% of women take responsibility for planning and investment of their money.
Women have 70% chance of being solely responsible for their own financial well being, 80% chance for another person as well. [Thoughts: ah ha!]
- “Budgeting Tips for the New Year” (Winter 1997, Stages Magazine); the #1 Tip is to take a new approach to budgeting. [Thoughts: looking for an approach to investing--period.]
- Women are considered the #1 marketing opportunity of the next decade. Women are making almost all the money-based decisions now. 94% of home furnishings, 92% holiday buying, 91% homes, 89% choice of new bank account, 88% medical insurance. [Thoughts: I know...this is why the time is now to learn and apply!]
