A few years ago, Caryn Effron was helping her mother re-balance her investment portfolio after a divorce, and she realized how uncomfortable women are when it comes to the topic of money. She discovered that “women make decisions about money in the context of their lives as opposed to making transactional decisions about money for money’s sake,” and that’s how Go Girl Finance was born.
Building confidence & having a voice
Effron was not surprised that older generations of women find personal finance intimidating. What she didn’t expect was how many successful and sophisticated women of all ages were uncomfortable discussing money issues and even managing their own money. Effron started asking women about money, and through her research she quickly found that “there was a significant knowledge and confidence gap affecting women and finances.”
Go Girl Finance helps women navigate through financial issues that impact their careers, relationships, families and every day activities – because let’s be honest, money affects everything that we do. Our income affects our standard of living, and our expenses affect our budget. If we can effectively manage them both, then women can find a balance between their personal needs and their savings.
Don’t be shy to talk about money
Historically and even still today, it’s considered taboo to talk about money. People who brag about how successful they are and how much money they make are considered obnoxious and socially awkward; however, the opposite is true. If more people talked (politely) about their money victories, their savings strategies and their financial mistakes, the world would be a better place – and Go Girl Finance agrees.
“We want women to feel confident discussing money and recommending finance resources and professionals to their friends in the same way they’d be happy to recommend a doctor or a hairdresser. I truly believe that every woman should have a financial advisor, or at least, a good source of financial information, in her “trusted circle,” says Effron.
Women of all ages should learn about savings
Learning how to save money for both the short term and long term is all about our personal goals, but it’s also about establishing regular behavior, consistency and daily habits, says Go Girl Finance. “Saving early and regularly is way more powerful than saving later in life.”
If you want to start saving, but you aren’t sure where to start, visit SaveUp and start getting rewarded for saving money and paying down debt. Joining is free, and SaveUp helps you track your progress and learn new ways to stay on top of your finances.
This post was written by Tahnya Kristina, a Certified Financial Planner and professional financial writer. She enjoys helping people manage their daily finances and become debt free. You can follow her on Twitter @TahnyaKristina.
Image source: MSN Money