women and money: building wealth and banishing fear

HOW TO BUILD WEALTH & BANISH FEARWomen & Money

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

What money issues are unique to women?

#CreditChatWednesday | 3 p.m. ET

#CreditChatWednesday | 3 p.m. ET

“Women earn less money but live longer than men. This impacts their retirement savings.”

- @AirForceFCU

#CreditChatWednesday | 3 p.m. ET

“Different health concerns, pregnancy, wage gap, staying at home with the kids vs.

continuing to work.”

- @MiriamSCross

#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

#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

Is there a confidence gap that may be affecting women financially?

#CreditChatWednesday | 3 p.m. ET

“According to research by Anthes & Most, women are more intimidated than men about financial issues.”

- @AirForceFCU

#CreditChatWednesday | 3 p.m. ET

“Women are great at saving money, but traditionally, less confident investors - definitely

changing though.”

- @kevincswanson

#CreditChatWednesday | 3 p.m. ET

“The wage gap is a huge factor” affecting women’s financial confidence.

- Gary Stockton @expgstockton

#CreditChatWednesday | 3 p.m. ET

#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

How can young women become financially independent when they enter the workforce?

#CreditChatWednesday | 3 p.m. ET

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

“Seek out a financial mentor that can help explain work benefits and basics like

budgeting.”

- Mina Ennin Black@WealthwithMina

#CreditChatWednesday | 3 p.m. ET

“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

#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

#CreditChatWednesday | 3 p.m. ET

“Never ever live outside your means. When you start earning a salary, live and spend realistically. SAVE.

Budget.”

- @MrsAmandaReed

How can women remain financially independent in a relationship?

#CreditChatWednesday | 3 p.m. ET

#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

“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

#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

“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

How can women ensure they are being smart with their credit?

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“Control financial aspects exclusively yours e.g. credit and retirement. Have individual

emergency funds.”

- @AirForceFCU

#CreditChatWednesday | 3 p.m. ET

“With women living longer than men, financial independence on their part is key.”

- @kevincswanson

#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

#CreditChatWednesday | 3 p.m. ET

“Have your own credit history - own major assets - know how credit works - and be responsible with

it!”

- @JoannaZarach

#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

How does a woman’s role as caregiver impact her financially?

#CreditChatWednesday | 3 p.m. ET

#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

#CreditChatWednesday | 3 p.m. ET

Being a caregiver “often means breaks in career and lower lifetime earnings & contributions to

retirement.”

- @AirForceFCU

#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

What are the biggest money mistakes women make?

#CreditChatWednesday | 3 p.m. ET

#CreditChatWednesday | 3 p.m. ET

“Not paying yourself first and relinquishing control of the finances to their partner.”

- @navicorePR

#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

#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

#CreditChatWednesday | 3 p.m. ET

“Not seeing the ‘big picture’ of their finances e.g for retirement, divorce or death of their spouses.”

- @AirForceFCU

What is longevity risk and how does it pertain to women?

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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

What are some smart ways women can approach investing?

#CreditChatWednesday | 3 p.m. ET

#CreditChatWednesday | 3 p.m. ET

“Match their employers contribution to their 401(k) or other retirement vehicle.”

- Sasha Grabenstetter @Pennies4Pigs

#CreditChatWednesday | 3 p.m. ET

“Women are good at researching; start by researching different investments and don't be

afraid to ask questions.”

- @kevincswanson

#CreditChatWednesday | 3 p.m. ET

“Hire a financial planner but be careful in choosing who will take care of the investment portfolio.”

- @AirForceFCU

#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

Any final tips to help women build wealth confidently?

#CreditChatWednesday | 3 p.m. ET

#CreditChatWednesday | 3 p.m. ET

“Set a goal, no matter your income level and stick to it! Plan for you!”

- Sasha Grabenstetter @Pennies4Pigs

#CreditChatWednesday | 3 p.m. ET

For a wealth confidently “save for emergencies, for life happens + for #retirement. Always invest

(pay) yourself first ladies.”

- @ubiquitysavings

#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

#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

“Invest in what you know, companies whose services you use.”

- @kevincswanson

#CreditChatWednesdays | 3 p.m. ET

#CreditChatWednesdays | 3 p.m. ET

Check out all the resources and tips shared:

ex.pn/womenmoney

#CreditChatWednesdays | 3 p.m. ET

Join Us Every Wednesday at 3 p.m. ET.

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