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Money Church - Brave Rave with Rach
Manage episode 331650778 series 3346086
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“It's vital that every woman has her own bank account that she is able to divert income into, even if it's $50 a week.”
In most areas of the world women have only been allowed to manage their own money since the mid to late-80s. Is it any wonder that we aren’t as knowledgeable about finances as men?
For so many of us this comes back to bite us when something like divorce or the loss of a husband happens. This may or may not be a shocking statistic, but 1 in 2 marriages these days ends in divorce.
So every other woman who gets married will find herself in a position to manage her own finances without the help of a partner at some point in her life. Don’t you think that means we need to know how finances work?
I have always known how to manage my own money, but I haven’t always realized the implications and importance of things like investing and saving for retirement. In fact, because I’ve owned my own business for the last fifteen plus years, I haven’t been putting back for retirement the amount of money I should.
This became glaringly obvious as my former husband and I began the process of divorcing and separating our assets. I was massively under-funded for retirement because we’d focused on putting money back in his retirement fund.
Needless to say, I’ve since gotten much more money savvy and I’ve started the journey of repairing my relationship with money. Listen in as I chat about my own experience and share ways you can begin to work on your money mindset and your asset management.
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