In many ways, 2017 has become the Year of the Woman.
The year kicked off with monumental Women’s marches all over the country and is ending with Time magazine naming the brave women who were ‘silence breakers’ as person of the year.
We’re making progress. A lot of progress. And it feels good, doesn’t it? We’re taking a stand and getting our voices heard.
Unfortunately, there’s one area where we’re still lacking: money.
Money can often seem like a taboo word. But as women, it’s important to not only talk about money, but learn how to manage it with confidence.
Women feel less confident than men when it comes to their finances and still, on average, make roughly 80 cents for every dollar a man makes. In other words, we’re doubly affected by feeling unsure about our money, while also making less than our male counterparts. On top of that, women outlive men — which is true in every single country on the planet.
While there are definitely some things that are stacked against us, it’s not all bad news. In fact, women are often better money managers than men. Not only that, but more women are bringing home the bacon and are the breadwinners in their household.
Now, more than ever, we need a movement for women to build wealth and manage their money. Not only to take care of their families, but to support themselves, their lives, their goals. Whatever they want.
Movements like #metoo have brought women together and vocally displayed our concerns and experiences. But I believe in order to truly help women, we need to financially empower them, too.
Why? Because money is power.
Money is freedom. Money gives you choices. Need to leave that bad relationship? You can afford to do so. Want to quit that job that is slowly killing you — the one where your boss constantly harasses you? You can make it happen.
Money is not inherently evil or bad as some may think. It’s simply a tool, but one that women can learn how to use to their advantage.
So how do you get started with getting your money situation right? Here are some resources to help:
- Ladies Get Paid. This organization helps women get the support, educational tools and resources to negotiate and get paid what they’re worth.
- So Money. Financial expert, Farnoosh Torabi hosts the podcast So Money which provides tons of invaluable information and great guests to learn from.
- Profit Boss® Radio.  My podcast, Profit Boss® Radio, is committed to cover all things women and money related, including how to deal with the emotional side of money, savvy ways to build your retirement nest egg, and how to ask for what you’re really worth.
All of these resources can help you get started on your financial journey and help you build wealth.
Get accountable.
Aside from education, accountability is another huge component of financial success. Don’t be afraid to share your goals with your friends. Find an accountability partner in a similar situation. Start a blog.
You can also meet other like-minded women at events, too. Ladies Get Paid hosts events all across the country and in 2018 I’m hosting a women’s wealth-building workshop called Profit Boss® Live, where you can learn to manage your money and meet like-minded women.
These aren’t your typical, boring and stuffy finance events, either. You can learn about money while sipping a glass of wine and meeting other women who can help you achieve your financial goals.
So as the year comes to a close, figure out how 2018 can be the Year of Wealth for you and make all of your other dreams come true.
About the Author
Hilary Hendershott, MBA, CFP®, is President & Chief Advisor at Hilary Hendershott Financial and host of the Profit Boss Radio podcast.
