Why Women Need Financial Education

by financialmom

in Financial Education, For Women Only, Investing, Money

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We know women want financial education. If you have not filled out my 5 question survey, asking how you would like to receive financial education, please take a minute and do it here.

Let’s take a look at the very important reasons women need financial education:


You know it already, but I’ll say it anyway – women earn less than men. The Institute for Women’s Policy Research reports yearly on the gender wage gap by occupation.  During 2010, median weekly earnings for female full-time workers were $669, compared with $824 per week for men, a gender wage gap of 18.8%.  Women’s median earnings are lower than men’s in nearly all occupations.

The point here is women are behind right out of the gate.  We have to be smart with our money to catch up.

Live Longer

Women live 5 – 10 years longer than men.  Our retirement savings need to last for a longer life. Since we are known to be more risk averse, and invest more conservatively than men (not always a bad thing),  it’s possible our savings could be less than they could be.

Since 9 out of 10 of women will be alone at some point in our lives, we need to know how to manage our finances and investments.


I really hate to say this, but women in general like to shop. It doesn’t really matter for most women what they are shopping for – it’s the thrill of the hunt that’s exciting.

Personally, I only like to shop when I’m on a mission, and my friends and family will testify to how painful even that can be with me.  There is one exception however, and I showed it in the picture above – put me in a bookstore, and I’m in shopping heaven.

Women can be unrealistic when it comes to expensive purchases. We want the big home, with beautiful stuff to go in it.  We like our version of expensive toys as much as men.  Unfortunately, big purchases are often made on emotion, rather than real need.  The spending plan goes out the window, if we even have one.


Unfortunately, women are much more likely to be poor for a variety of reasons, especially later in life. Many women have occupations with no pension or retirement benefits.  Many women also jump in and out of the work force while raising their children.

If they have no retirement benefits, some women assume their men will take care of the retirement savings for them. The problem with this happens when women have no knowledge of whether he really is taking care of it.  Don’t allow yourself to be surprised later if you have failed to take responsibility for your retirement.

Make a decision right now to get financial education for yourself, and start participating in all the financial decisions of your family.  Call it insurance against a difficult financial future.

New Profile Pic 2599R Why Women Need Financial EducationPamela Otten is CEO of Pamela Otten LLC, a Registered Investment Advisor. She loves to work with women business owners and entrepreneurs, and women in transition due to job change, death, or divorce. Pamela will help you set and reach your financial goals, educate you to understand your investments, and teach you how to do more charitable giving. Pamela is a Qualified Kingdom Advisor (www.kingdomadvisors.org), trained and committed to integrating biblical principles with her investment advice.

cc smallest Why Women Need Financial EducationPhoto Credit – ReneS

Financial Planning, Investment Advice, and Investment Management provided through Pamela Otten LLC, Registered Investment Advisor.

The opinions voiced in this material are for general information only, and are not intended to provide specific advice or recommendations for any individual. To determine which investment(s) may be appropriate for you, please consult your financial advisor prior to investing.


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{ 2 comments… read them below or add one }

Pat Cruickshank June 8, 2011 at 6:51 pm

Thanks for some good reminders about becoming financially savvy, especially those of us nearing retirement age.
Pat Cruickshank´s last [type] ..The Perfect Business for Grandparents


Lori June 9, 2011 at 6:58 pm

I agree EVERYONE needs more financial education.
Lori´s last [type] ..10 Ways To Have More Fun Today


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