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Fearless Financial Future

I'm Every Woman

March is National Women's History Month and today, March 8 is International Women's Day! This month provides a great opportunity to have more discussions about women and finances. Developing positive money management skills is important for all age groups and genders. However, a focus on women highlights the financial knowledge gap that exists between men and women. Women are less likely to understand different financial concepts and women typically have lower financial risk tolerance than men. Meaning, they are less likely to take investment or other financial risks. Women on average have a longer life expectancy than men do and they may face the risk of outliving their savings. Therefore, equipping women with appropriate financial tools and resources will allow them to feel more confident in their financial decision-making.

In celebration of this month, I asked a couple Consumer Economics Educators (with many years of experience working with diverse audiences) about their advice to women and these were some of their suggestions:

Be involved at home

  • Even if you have someone who manages the bills and other financial obligations, learn about basic money management skills (e.g. balancing a checkbook, creating a household budget) so you can co-manage
  • Life situation may change due to loss, divorce, or other emotional trauma, and having basic money management abilities will be beneficial for you throughout your life

Believe in your abilities

  • Financial self-efficacy is very important to your financial well-being
  • Believe that you can be a good manager of money, no matter your background or past experiences
  • This will help you plan how you handle different financial obligations

Invest in yourself

Understand what influences your money behaviors

  • It is important to acknowledge how family and culture shape the way you think about and handle money
  • What did you learn? What behaviors did you observe? Who influenced how you thought about money? By answering these questions, you become aware of positive or negative financial behaviors that impact your financial life

Get involved in financial education activities

  • Involvement in financial literacy activities and programs can help you develop positive and thoughtful spending and saving behaviors
  • Participate in local money management events; many are free and available to the public. If you are not sure where to start, contact your local agencies, they are able to direct you to the right resources. Visit us at
  • YOU HAVE THE POWER! Women are more likely to change behaviors after financial seminars

Acknowledging gender differences in financial knowledge is important for supporting positive financial behaviors. In summary, make sure to play an active role in your financial life and do not let past failures with saving or budgeting prevent you from seeking the information you need to be financially stable. Finally, get multiple generations involved in your household financial management. Let your children and grandchildren help you with simple tasks such as grocery lists, balancing the checkbook, and finding now online financial tools.