What's Up with Women and Money?

When you need money advise, who do you turn to?
I go to my dad, my spouse or my brother. I've never asked my uncle, but I'm sure if I did, he'd be able to help. Who wouldn't you turn to? Chances are, you're unlikely to ask your mom, your sister or your wife (if you are a man).

The older I get, the more I understand, the lack of female role-models, in my life, when it comes to money. It's great that you can learn about money from dad, but it's very disturbing, to me- as woman- the general apathy, of all the women in my life, towards money issues.

A few weeks ago my dad called. Being the complete non-techy, he wanted to know, how to order from Amazon. (Respect! My daddy's calling me for advise!?!) Now, I've been hunkering for a copy of Kim Kiyosaki's book, “Rich Woman”, for quite a while. It's impossible to get it in English, down here, in rural Israel, so I asked dad to grab me a copy, while he's at it.

Fast forward to two weeks later, mom calls, telling me my book has arrived, and for some strange reason, they got two copies of it. She wanted to know, what do do with the second copy.
“Read it.” I stated plainly.
Mom laughed, “sure...”.
“Well, at least read the back cover?” I suggested desperately.

While the rest of the conversation went somewhere else, in my head, I was thinking: “What do you mean “sure..”?! What?! This doesn't apply to you?!” Now, I know that my parents are probably not getting an ugly divorce any time soon. And mom is very much protected by the love of her children. But what mom doesn't really grasp, is one of Kiyosaki's most startling statistics:

”Of the elderly living in poverty 3 out of 4 are women- and 80% of them were not poor when their husbands were alive. ”

Since dad is the breadwinner of the family, I can only hope that he's already made plans for mom, in the case that something unexpected may happen. On mom's behalf, I can say, that she is completely involved in the financial state of the house-hold, but she also relies on dad's superior incomes. When I think about my mom's salary, and try to imagine what it would have been like, to be raised on that meager sum, I find it hard to believe it would have been possible.

The real problem is no woman, in my life- not my family, not my friends, not my student peers- understand the importance of long term financial security. Women are bored by money! They don't want to know about it, they don't want to think about it. The just assume they'll be fine!

How can anyone assume they'll be fine, when pension plans are dwindling and life expectancy is only rising? I know that there are many things that you'd rather do with your spare time. But for your own sake, sister, educate yourself in finance!

For this reason, I want to share with you the list of sites, I read. Read one article a day. Just one! Get acquainted with what's going on, out there. It's a good start:

The Wall Street Journal
Business Week
Yahoo! Finance
Woman's Wall Street
Woman Entrepreneur
Investopedia
She Said- Money Sense

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