Women are in the work more than ever before. They are in jobs ranging from construction to physics. In many cases they may not make the equivalent pay of men in the same field, but they do need to know how to handle their finances. No matter what stage they are in life women need to be able to handle finances. It is essential to their livelihood and retirement.
If you are new to the work, you need to make sure that you start off on the right foot. Try to start saving for your retirement now. Time is of the essence. You can not get time back once it is gone. You do not know what the future may hold. You may or may not get married and have kids. But you do have yourself to think about right now. Keep a savings balance of six to nine months of your annual salary or income. You do not want to be caught unaware and surprised if you lose your job or your business sales decrease.
If you are married you still need to maintain your financial accounts and records. In the case of a divorce you need to be able to have funds that you can depend upon. No one plans for a divorce, but you should be prepared for this if it should happen to you. If you do not work and are married you need to be able to know the exact details of your financial situation. In the event of your husband's death you want to know where the bank accounts are located, if there are any safe deposit boxes, stocks and or bonds, and retirement accounts. You'll also need to know what bills need to be paid and when. You may think that having your husband do everything for you is great. If he dies before you (and most men unfortunately do) you will not have a clue as to what is going on.
Children are the hope for our future. And if you have one or more you will need to think about their well-being. Health care, insurance, educational needs, and the everyday necessities will keep your pocketbook busy. You will need to plan for them. If you are divorced with kids it is even more appropriate to prepare as you may be the sole provider. They will look to you as to how they handle their finances. Make sure that you are a good role model for them.
It is not easy being a woman in the working world. There are many demands placed upon you by your family, job, and yourself. You will need to figure out how to balance everything and at the same time be financially secure. There might be many life challenges that you will face that will test your will. You may not have predicted the ending of your marriage or even the elderly care for your parents that you are now responsible for. But it pays to be prepared for all things. No longer can women assume that it will be taken care of by a male. They need to make sure that they take responsibility for their personal money management.