By Amanda Morrall (email)
Statistics tell me not many women come to our website. That said, I get quite a few emails (from both sexes) so I know we do have some female readers out there taking an active interest in money at all levels. It was international women's week earlier this month but the subject matter should be top of women's minds all year round I would argue. To that end, here's five links to stimulate debate at the next girl's night out or with hubby at the next Sunday night financial summit around the kitchen table.
1) Survey says
A survey from Westpac found that whilst women dominate at the home front when it comes to managing money, they do so largely at the expense of their own financial well-being and long-term security. Here's the original story summarising the highlights and findings.
2) Why women make better investors
Despite women's reluctance to invest, research suggests they make for highly competent investors. That's because generally speaking women don't take big risks, they like to understand what they are investing in before turning their money over, and they follow the plot quite closely.
This article by Cameron Watson at Craigs Investment Partners takes a closer look at women's aptitudes where investing is concerned.
3) The art of salary negotiation
One of the biggest financial mistakes women make right off the bat is failing to demand what they are worth when they take their first job and at pretty much every subsequent salary review going forward. Their failure to approach salary negotiations comes at a huge sacrifice financially. That's particularly the case because studies show that women still earn less than men for the same job...somewhere between 70 to 80% of what their male counterpart earns. Their departure from the workforce later on to have children is a further blow to income earning and savings.
Here's a primer from theladders.com on how to conduct a successful salary negotiation.
4) Suze Orman's view
I have to say I lost a bit of respect for Suze when she started flogging her own personal pre-loaded debit card which turned out to have above average fees. Regardless, Suze has done a fair bit for the "movement" and helping to raise the financial literacy levels of both sexes. Here's what Suze has to say on the subject of women and money and how we need to lift our game.
5) Why nice girls finish last
And finally, here's a piece we ran from financial writer and career counsellor Joan Baker, author of "A Man is Not a Financial Plan.'' When we originally ran this article it generated heaps of comments, mainly from our male readership of course. Most of them seemed to agree with her straight forward advice for gals trying to get ahead.