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4 tips to women for their financial future

The international association of women executives PWN has produced a documentary that encourages women to take control of their finances in order to improve their future and that of their family. The advice given in this film are relevant to all women and men. Synthesis of 4 points.

Only 1% of global wealth belongs to women, and there is no country in the world where the salary of the women is truly equal to that of men. In France, women still earn 20% less than men while they are on average more qualified.

The association PWN is an international association whose mission is the professional achievement of women. These women graduates of the 42-year average for most of the mothers of the family who occupy positions of responsibility in the same time that they raise their children. Even for these women preferred, money remains a topic sometimes difficult. For example, two-thirds of them do not ask for increase if they feel underpaid.

Based on these findings, PWN launched a vast research work. on the report of the women to the money. Ulrike Lehmann, Corinne Albert and Corinne Hirsch have done to lead this research in the form of a documentary film "Women & Money" (women and money) that you can view below.

The advice shared in this documentary by the experts in financial advice and women entrepreneurs, employed or retired, who testify of their experience are relevant for all, women and men, young and less young people, officers or not. These tips are in line with the philosophy of responsibility and independence, financial Finance Practice. I offer my synthesis of 4 points :

Awareness of the need to act
Demystify the money
Set personal goals
Be informed and act

1) become aware of the need to act,

The salary differences for men and women are not always visible, especially in the beginning of their career. The young women even have the illusion that they are not concerned. Yet inequalities persist and the consequences are heavy.

A force to be engaged with the lower wages, be less quickly increased, and stop, or to work part-time to care for their children, women were becoming poorer, especially in the case of a single-parent family. All the numbers that follow are the latest figures INSEE.

 Women earn 20% less than men : The gap is narrowing thanks to the laws for equality. But the progress is very slow ; the laws are not always enforced.

Their financial wealth is 37% below that of men : Too many women do not earn the surplus which would allow them to build savings.

 Their retirement is 27% lower than that of men : Worse, if we exclude the survivor benefits payable to widows, women earn on average 897 euros pension law direct, or 44% less than men affecting 1 600 euros.

The lesson to be drawn from these figures is a valuable lesson for all : it is necessary to be aware of his financial situation in a wider environment and over a long time horizon. We realise then the importance of acting without delay.

2) to Demystify the money

It is necessary to know how to take risqueAu beyond the social and economic conditions, culture, stereotypes and family history to create beliefs that influence our ability to take control of our financial future.

We have often discussed here the topic of negative beliefs or limiting on the money. These beliefs trigger emotions that guide our behaviour in a manner more or less conscious. And the miser is by the irrational fear of miss, while the person spending finds its identity in the consumer.

Some of the beliefs of limitations affect particularly women. Examples :

Most women are afraid to ask for a raise. Lack of self-confidence, fear of being seen as difficult or too ambitious...

Women are sometimes too conservative. Prudence is a quality when it is not blocking. And to undertake it, don't be afraid to project into an uncertain future. To earn more than the liner, it is necessary to know take risks.

To demystify the money, release negative beliefs, it is necessary to talk about, learn and act.

3) set personal goals

Set goals financiersL'money is not a goal in itself but a means to reach goals that motivate and enable you to move forward. Without a goal, it is easy... to nothing !

Each person must set personal goals according to his needs, his psychological profile and his or her economic situation, family and social. For example, an active young woman would be spared to constitute the personal contribution of a real estate purchase, and as of 35 years, will devote a portion of his savings for a retirement fund.

4) inform, act

Inform and agirPlus it avoids issues of money, the more we find them complex and not very user friendly. But if, on the contrary, we get familiar with these issues, informing, talking about it, taking advice and doing experiments, then it not only achieves its objectives but there will also be fun too !

For example, if it prepares its request for an increase in informing on the policy of the company and the salaries in the sector, if one makes a balance sheet of its skills and of its results, there will be less stress during the interview and more chances to get what we demand.