Breaking Barriers and Building Wealth: Women Leading the Future of Finance

 

While there is still a lot of room for growth, the amount of wealth controlled by women is expanding and women are increasingly becoming more influential in wealth creation and consumer spending. 

We want to keep that trend moving upwards, which is why it’s so important that we, as women, learn how to break down barriers and build our wealth so we can create a solid foundation for an abundant future. 

How money works for women.

Women and men think very differently, especially when it comes to money, because we often have differing money philosophies. We also tend to be more stressed about money than men, because we typically make less money, have to take time off work to care for children, which impacts wages, and we live longer, so we need to make our retirement funds go farther. 

As a result, the financial strategies we use must be tailored to our specific needs as women when investing and building wealth.

Each stage of our lives poses different challenges, but the better our financial literacy is, the easier it is to overcome those obstacles. In the book I co-authored with Kim Scouller, we cover each of those stages and the money milestones women face, helping women of all ages to develop their financial self-reliance while they design their financial future.

You are never too old or too young to improve your financial literacy!

To get Sharon Lechter’s co-authored book: How Money Works for Women – Take Control or Lose It!  >>CLICK HERE NOW!<<

The fastest way to gain knowledge is to find someone who has already done what you want to do and follow in their footsteps. There are great female mentors who can meet you where you are and help you build your financial self-reliance much faster than you can ever do on your own. It’s the one short cut in finances and business that actually works! 

When you find someone with expertise in female financial leadership, and they have a proven process, engage them! That will help you take control of your finances, your life and your future. It’s an investment that is worth it!

Why financial self-reliance matters for women.

Financial independence for women is not just about personal freedom; it’s also about creating a powerful and enduring legacy of generational wealth. 

As we improve our financial literacy, reduce debt and increase our income streams we become more confident in our financial decision-making skills. That’s when we see and experience greater opportunities in all areas of our lives, and we get to lead by example.

Through financial literacy we get:

• Greater freedom of choice. Financial independence gives you the ability and the autonomy to pursue the things you really want to do. Whether that’s spending more time with your family, a career change, retirement or supporting causes that matter to you, the freedom of choice that comes with financial self-reliance is a true gift.
• The ability to make impactful investments. Once you learn how money works for women, you will be able to align your portfolio with your personal values, making smart investments that can support positive social and environmental change while also generating excellent returns.
• To support future generations. Not only our own families, but also for the people around us who learn from our example, and for those we assist with our knowledge and monetary support to improve their way of living and financial independence. 
• To leave a lasting imprint. Building a legacy means we create a ripple effect in the world. As women start breaking barriers in finance, we will see many positive shifts in the world around us, shaping a brighter future for the generations that follow.

How financial literacy empowers women to take control.

Alt text: Woman contemplating her financial decisions,standing between a bank on side and a piggybank on the other.

Even though many women start at a financial disadvantage, when we focus on closing the gender gap in finance and make smart investments, our portfolios actually outperform our male counterparts in the long run. That means we create opportunities for ourselves and our financial future when we learn how to take control of our money. 

The most important financial literacy skills for women are simple to learn and use:

First you must understand your money philosophy. That means defining your values and discovering your beliefs about money. You may have to overcome some limiting beliefs, but once you do you will be able to adapt appropriately to get better financial results. 

Next is debt management. Sometimes when there is a lot of debt we avoid looking at it, but we can’t get better results if we don’t make it a point of focus. Once you learn to manage your debt you will reduce your stress and everything else becomes much easier. 

Then, build your emergency fund. I suggest to my clients that they put aside six months worth of monthly expenses as a safety net, so they can give themselves grace when it’s needed during difficult situations. That kind of emergency fund allows for greater control of your time and mental focus when it’s of the utmost importance. 

Finally, developing your wealth building strategy and smart money habits will help you define your financial priorities and money goals, which will guide your personal investment plan. When it’s set, utilizing automation in your investments ensures consistent contributions, helping them build over time. 

When it comes down to it, for women to break barriers in finance, they need to educate themselves. The power of financial literacy is exponential, just like great investments. Once we gain financial knowledge and knowhow, we can increase our confidence. That will empower us to start leading the future of finances, first for ourselves, and through us, for the generations beyond. 

If you want to learn from a trusted mentor and an expert in female financial leadership, I invite you to join me for Let’s Talk Money. It’s a monthly mentorship program where you get to learn, ask your questions and improve your financial literacy along with other people who also want to build a wealthy future.

CLICK HERE TO LEARN MORE ABOUT SHARON LECHTER’S LETS TALK MONEY MEMBERSHIP!