If you were to ask women you know how financially literate they are, many would say they were not. For many women, they may take care of their families expenses like their grocery, utility and insurance bills, while their husbands manage their long term finances. What can be financially catastrophic for these women is when their husband passes away or they divorce and they have no knowledge of their long term accounts. Another scenario is the single woman who may not have set up any long term financial accounts. In either case, statistics show women are far less financially literate than their male counterparts. The reasons for this include fear and anxiety and the intimidation about the subject of financial investments. This article from the USA Today, “Women Gain Greater Financial Control But Confidence Lags” explains this issue really well. The article went on to say that more women are gaining financial independence and are graduating college more, are now half of the work force and are becoming the main wage earner in their home. To simplify the issue, the article stated that the financial responsibilities of women are growing at a faster rate than their knowledge. The first step women need to take is to find a program that can educate them about investments and long term financial planning. This will ensure women are more financially literate instead of living financially illiterate.
Are You In Financial Control?
If you have found yourself in the situation that many women today are in, what can you do to change it? The first thing you need to do is ask yourself: Are you in financial control? If the answer is no, that is OK because Genworth Financial is there to help you. The experts at Genworth Financial are ready to give you a free financial consultation to help you see where you need help the most. From there, Genworth can offer a large variety of services to meet your needs. Genworth Financial can offer advice on retirement planning, life and long term care insurance, home ownership and wealth management. No matter the need, Genworth Financial has trained and qualified staff to guide you.