Remember that old commercial where a woman sang about how she could ‘bring home the bacon and fry it up in a pan?’ Even if you don’t, you are probably at least aware that many women have a lot of responsibilities at home and at work. While men are sometimes seen as people who primarily work outside of the home, women often get the message that they are expected work in and outside of the home. And some women find it difficult to divide their time between the two. Plus, no matter where they work or focus their attention, women often earn less than men. Since this is the case, financial planning is of great importance for women.
The Pew Research Center conducted a study to get information on women’s attitudes towards work and motherhood and found that younger women are in general pretty optimistic and determined to “have it all” since they responded that they want to be successful in their careers and believe that motherhood is very important. Compared to the younger women (18-34) surveyed, a smaller percentage of older women (35-64) indicated that their careers ranked high in importance for them.
Additionally, Yahoo! Finance reports “the study also found that while women still earn less than men younger women face less inequity and the pay gap has lessened over time.”
Whether a woman has financial support or she is solely responsible for supporting herself and her family, she has to consider her financial future. Putting plans in place early on and developing sound financial decison-making skills can make a big difference over time. And this is where expert advice can be invaluable. Working with a Fee-Only financial planner can help you plan—giving you the tools you need to make adjustments to your present financial habits so that you can financial future you really want.