women and money: building wealth and banishing fear
TRANSCRIPT
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HOW TO BUILD WEALTH & BANISH FEARWomen & Money
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Join our #CreditChat every Wednesday at 3 p.m. ET. This week, we talked about how women can build wealth and
banish fear.
ex.pn/womenmoney
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What money issues are unique to women?
#CreditChatWednesday | 3 p.m. ET
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#CreditChatWednesday | 3 p.m. ET
“Women earn less money but live longer than men. This impacts their retirement savings.”
- @AirForceFCU
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#CreditChatWednesday | 3 p.m. ET
“Different health concerns, pregnancy, wage gap, staying at home with the kids vs.
continuing to work.”
- @MiriamSCross
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#CreditChatWednesday | 3 p.m. ET
“Personally, a big point of anxiety is finances + having children. Return to work after baby, go part-
time, stay at home?” - @MrsAmandaReed
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#CreditChatWednesday | 3 p.m. ET
“Women are more conservative, live longer, work less and have the wage gap against them.”
- Cary Carbonaro, CFP and author of @moneyqueenguide
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Is there a confidence gap that may be affecting women financially?
#CreditChatWednesday | 3 p.m. ET
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“According to research by Anthes & Most, women are more intimidated than men about financial issues.”
- @AirForceFCU
#CreditChatWednesday | 3 p.m. ET
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“Women are great at saving money, but traditionally, less confident investors - definitely
changing though.”
- @kevincswanson
#CreditChatWednesday | 3 p.m. ET
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“The wage gap is a huge factor” affecting women’s financial confidence.
- Gary Stockton @expgstockton
#CreditChatWednesday | 3 p.m. ET
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#CreditChatWednesday | 3 p.m. ET
“There is a confidence gap. Most are not comfortable with financial literacy, we need to close that gap!” - Cary Carbonaro, CFP and author of @moneyqueenguide
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How can young women become financially independent when they enter the workforce?
#CreditChatWednesday | 3 p.m. ET
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Young women entering the workforce should “live below their means and take full advantage of
workplace retirement programs like 401(k) plans.”
- Kelley Long, CPA/CFP
@kclmoneycoach
#CreditChatWednesday | 3 p.m. ET
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“Seek out a financial mentor that can help explain work benefits and basics like
budgeting.”
- Mina Ennin Black@WealthwithMina
#CreditChatWednesday | 3 p.m. ET
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“Plan on being independently wealthy - don't count on a man to provide for them. Get control
over your money.”
- @JoannaZarach
#CreditChatWednesday | 3 p.m. ET
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#CreditChatWednesday | 3 p.m. ET
“Women can start becoming financially independent by negotiating their salaries, and budget so they spend less than they make and start a 401k ASAP. ” - Cary Carbonaro, CFP and author of @moneyqueenguide
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#CreditChatWednesday | 3 p.m. ET
“Never ever live outside your means. When you start earning a salary, live and spend realistically. SAVE.
Budget.”
- @MrsAmandaReed
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How can women remain financially independent in a relationship?
#CreditChatWednesday | 3 p.m. ET
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#CreditChatWednesday | 3 p.m. ET
Women can remain financially independent in a relationship “by building their own credit history
and not relying on their partner.”
- @SelfLender
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“Take an active role in handling money. Don't be in the dark about what's going on with your
finances.”
- @FedChoiceFCU
#CreditChatWednesday | 3 p.m. ET
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#CreditChatWednesday | 3 p.m. ET
“Women can remain financially independent by keeping their own bank accounts and credit cards. They should make sure they can pay all their bills if the relationship ends.”
- Cary Carbonaro, CFP and author of @moneyqueenguide
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“I think most women pay the bills, but forget about planning for retirement or problems within
their relationship.”
- Sasha Grabenstetter @Pennies4Pigs
#CreditChatWednesday | 3 p.m. ET
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How can women ensure they are being smart with their credit?
#CreditChatWednesday | 3 p.m. ET
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#CreditChatWednesday | 3 p.m. ET
“Control financial aspects exclusively yours e.g. credit and retirement. Have individual
emergency funds.”
- @AirForceFCU
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#CreditChatWednesday | 3 p.m. ET
“With women living longer than men, financial independence on their part is key.”
- @kevincswanson
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#CreditChatWednesday | 3 p.m. ET
“Monitor their credit score, pay off credit cards in full and on time, use tools like #CreditChat.” - Cary Carbonaro, CFP and author of @moneyqueenguide
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#CreditChatWednesday | 3 p.m. ET
“Have your own credit history - own major assets - know how credit works - and be responsible with
it!”
- @JoannaZarach
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#CreditChatWednesday | 3 p.m. ET
“Learn to differentiate wants and needs. Set your own standards and limits. Yourself worth
isn't determined by possessions.”
- Andie @moneyinmy30s
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How does a woman’s role as caregiver impact her financially?
#CreditChatWednesday | 3 p.m. ET
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#CreditChatWednesday | 3 p.m. ET
“A woman’s role as caregiver keeps her out of the workforce which lowers her social security and lifetime earnings.” - Cary Carbonaro, CFP and author of @moneyqueenguide
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#CreditChatWednesday | 3 p.m. ET
Being a caregiver “often means breaks in career and lower lifetime earnings & contributions to
retirement.”
- @AirForceFCU
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#CreditChatWednesday | 3 p.m. ET
“Women feel it's their responsibility, but taking days off or working part-time to do so
impacts their finances long-term.”
- Andie @moneyinmy30s
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What are the biggest money mistakes women make?
#CreditChatWednesday | 3 p.m. ET
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#CreditChatWednesday | 3 p.m. ET
“Not paying yourself first and relinquishing control of the finances to their partner.”
- @navicorePR
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#CreditChatWednesday | 3 p.m. ET
“Biggest money mistakes: Relying on a man, too much cash instead of investing, not enough savings, not budgeting, and putting others before herself.” - Cary Carbonaro, CFP and author of @moneyqueenguide
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#CreditChatWednesday | 3 p.m. ET
“Trusting someone else to take care of them - and letting go of control of their money - also
losing their earning power.”
- @JoannaZarach
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#CreditChatWednesday | 3 p.m. ET
“Not seeing the ‘big picture’ of their finances e.g for retirement, divorce or death of their spouses.”
- @AirForceFCU
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What is longevity risk and how does it pertain to women?
#CreditChatWednesday | 3 p.m. ET
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#CreditChatWednesday | 3 p.m. ET
“Women live much longer than men. They should be saving more than men, not less.” - Cary Carbonaro, CFP and author of @moneyqueenguide
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What are some smart ways women can approach investing?
#CreditChatWednesday | 3 p.m. ET
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#CreditChatWednesday | 3 p.m. ET
“Match their employers contribution to their 401(k) or other retirement vehicle.”
- Sasha Grabenstetter @Pennies4Pigs
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#CreditChatWednesday | 3 p.m. ET
“Women are good at researching; start by researching different investments and don't be
afraid to ask questions.”
- @kevincswanson
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#CreditChatWednesday | 3 p.m. ET
“Hire a financial planner but be careful in choosing who will take care of the investment portfolio.”
- @AirForceFCU
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#CreditChatWednesday | 3 p.m. ET
“Just do it! Don’t be afraid, start small, diversify and have a long term view.”
- Cary Carbonaro, CFP and author of @moneyqueenguide
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Any final tips to help women build wealth confidently?
#CreditChatWednesday | 3 p.m. ET
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#CreditChatWednesday | 3 p.m. ET
“Set a goal, no matter your income level and stick to it! Plan for you!”
- Sasha Grabenstetter @Pennies4Pigs
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#CreditChatWednesday | 3 p.m. ET
For a wealth confidently “save for emergencies, for life happens + for #retirement. Always invest
(pay) yourself first ladies.”
- @ubiquitysavings
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#CreditChatWednesday | 3 p.m. ET
“Financial literacy is the best place to start building wealth! Hire a CFP or a Wealth Advocate for you to help you with your journey.”
- Cary Carbonaro, CFP and author of @moneyqueenguide
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#CreditChatWednesday | 3 p.m. ET
“Think about short-term and long-term goals, plan to reach each one – overestimate your money needs” to
achieve wealth confidently.
- @AirForceFCU
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“Invest in what you know, companies whose services you use.”
- @kevincswanson
#CreditChatWednesdays | 3 p.m. ET
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#CreditChatWednesdays | 3 p.m. ET
Check out all the resources and tips shared:
ex.pn/womenmoney
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#CreditChatWednesdays | 3 p.m. ET
Join Us Every Wednesday at 3 p.m. ET.
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