#PressForProgress – in Financial Literacy Education for Women
- According to a study by Statistics Canada, Canadian women have lower levels of financial literacy and less confidence in their ability to manage their finances than Canadian men.
- Canadian woman currently earn 31 percent less than men.
- 9 out of 10 women will eventually have to manage their finances by themselves.
So, the question is, how can we assist the women in our lives to move forward and #PressForProgress?
I have heard women around me say “I am not good with numbers, or my partner is better at looking after our money”. Although this may be true, one person can certainly be better or more interested at budgeting, saving or investing, however you still need to have an understanding of your financial situation.
It’s important that women also understand where we are with our money. In today’s world women continue to strive for equality. To achieve financial independence, it is extremely important that each of us self – educate and share this information with the women around us.
Here are 10 questions to get you moving toward financial independence:
- Do I know my financial credit status?
- Have I established credit?
- Are there debts in my name?
- Are there bills in my name?
- Are there assets in my name?
- How much is spent each month on needs vs. wants? Do I understand where my money is going?
- Do I have the right type of account?
- What type of investment is best for me?
- Do I know where I have loans, mortgages and investments? Do I know which financial institution they are at?
- Do I have a record of account numbers and passwords for access if necessary?
Next steps start somewhere, we don’t need to know or understand everything at once. We can start by asking questions, education and empowering ourselves, this is our first step in making informed decisions.
#PressForProgress for Financial Literacy Education for Women!
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