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10 Ways Women Can Maximize Their Net Worth by Retirement Age

Women may want to focus on growing their wealth for a number of reasons. According to a recent survey conducted by Edelman Financial Engines, the top reasons women want to build wealth are to be financially secure enough to not have to worry about money (82%), to be able to have a comfortable retirement (75%), and to have the freedom and flexibility to do the things they want to do (71%). Whatever your personal motivations may be, there are steps you can take to maximize your net worth during your working years. Read Next: What Is the Average Credit Score…

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A Focus On Your Money

Women Are Tapping Into Emergency Savings at High Rates — Why This Can Be a Mistake

Having an emergency savings fund can provide a financial safety net for unexpected costs and events, such as a job loss or medical expense. While it’s OK to use these funds when necessary, a new Bank of America report uncovered an alarming trend — women are more likely to have decreased their emergency savings funds over the past six to 12 months compared to the overall population. According to the bank’s 2024 Workplace Benefits Report, 29% of women have decreased their emergency savings in recent months compared to 23% of all employees. Find Out: How Much Does the Average Baby…

By Gabrielle Olya

5 Costly Mistakes Women Make With Their Money

Many women are making proactive choices to better manage their money, including making smart purchases (31%), successfully managing their household’s finances (27%) and being financially independent (26%), according to a recent Fidelity study. On the other hand, women also admit to making some costly mistakes when it comes to how they handle their finances. Find Out: 10 Expenses Most Likely To Drain Your Checking Account Each MonthLearn More: 6 Genius Things All Wealthy People Do With Their Money In this “Financially Savvy Female” column, we’re chatting with Lorna Kapusta, head of women and engagement at Fidelity, about the most common financial mistakes women make…

Why Women Making $100K+ Are Stressed About Money

Most women are stressed about money — even if they make a high salary. A new Fidelity study found that overall, 57% of women are stressed about their finances, and 93% are stressed about managing their money. That high latter percentage held true no matter what income bracket women fell into — 93% of women who earn less than $50,000 are stressed about managing their money, 95% of women who earn between $50,000 and $100,000 are stressed, and 92% of women earning over $100,000 are stressed. In this “Financially Savvy Female” column, we’re chatting with Lorna Kapusta, head of women and engagement at…

Why Monthly Bills Are Women’s Top Financial Stressor

It’s the everyday expenses that stress women out the most. According to a recent Fidelity study, monthly bills are women’s No. 1 financial stressor (55% are stressed about it), coming in ahead of inflation (49%), being about to cover an emergency expense (42%), debt (39%) and having enough money to enjoy day-to-day life (37%). Find Out: How Much Does the Average Middle-Class Person Have in Savings?Try This: One Smart Way To Grow Your Retirement Savings in 2024 In this “Financially Savvy Female” column, we’re chatting with Lorna Kapusta, head of women and engagement at Fidelity, about why so many women are stressed…

Women and the Workplace

This Is the Salary Women Say They Need To Be Happy in 2024

When asked about the salary needed to be happy, women are more likely to be content with less. A recent GOBankingRates survey found that 30% of women would be happy making $50,000 or less versus 25% of men. Additionally, just under half of all women (49%) would be happy making $65,000 or less. In this “Financially Savvy Female” column, we’re chatting with experts about the salary women actually need to be happy, and why women tend to have a lower threshold for happiness when it comes to income. Read Next: 12 Key Ways the Rich Multiply Their WealthFor You: 6…

By Gabrielle Olya

Women Are Less Likely To Use AI in Their Careers: 2 Ways To Use It Now

Artificial intelligence can be an invaluable tool for your career growth when used correctly, but many women seem hesitant to embrace this new technology. A recent FlexJobs survey found that more than half of men (54%) are using AI in either or both their personal and professional lives, while only about one-third of women (35%) are currently using AI. In addition, 60% of men said they either already have or are considering using AI for job applications, but only 46% of women said the same, and 21% of men have used AI tools on their job applications, while 15% of…

2 Factors Stopping Women From Climbing the Career Ladder

The number of women in leadership positions in the American workforce has increased by just 1% in the past six years, from 36% in 2016 to 37% in 2022, a recent LinkedIn analysis found. The analysis also found that women are less likely to make the climb from entry-level roles to leadership positions, even in fields where they hold the majority of positions, like hospitality and administrative services. Suze Orman: 8 Urgent Tips for Surviving the Looming Recession Learn: How To Build a Financial Plan From Zero So what’s holding women back? The analysis posits that two major factors are…

Good News: The Gender Wage Gap Is Narrowing Among Gen Z

The gender pay gap has barely narrowed in two decades, a recent Pew Research Center analysis found. In 2002, women earned 80% of what men earned and in 2022, they earned 82% of what men earned. Read: 6 Investments Everyone Should Make During an Economic DownturnFind Out: How To Build a Financial Plan From Zero While these stats may be disheartening, there is one glimmer of hope — the wage gap has been narrowing significantly among young workers. The analysis found that among older Gen Z and younger millennial workers — those ages 25 to 34 — women currently earn 92% of…

Relationships, Family & Finances

Newly Married? Here’s How To Build Wealth as a Couple

We’re currently in the midst of wedding season, which means many couples will be saying their “I dos” and officially merging their lives together. This also means that many couples will be navigating their finances together for the first time. Having frank conversations about money and wealth-building strategies early on can help couples navigate financial highs and lows down the line. See Our List: 100 Most Influential Money ExpertsRead: How To Build Your Savings From Scratch In this “Financially Savvy Female” column, we’re chatting with Cindy Scott, CFP with Schwab Intelligent Portfolios Premium, about how newly married couples can work together to…

By Gabrielle Olya

Why Dating Your Financial Opposite Could Be a Good Thing

We all know that opposites attract, but we usually think of this as a bad thing when it comes to financial opposites. However, this isn’t necessarily the case — a saver and a spender could make for great partners if they use their differences to their advantage. Discover: 11 Grocery Items To Buy at Dollar TreeFICO Figures: 3 Signs You’re Serious About Raising Your Credit Score In this “Financially Savvy Female” column, we’re chatting with Lindsay Bryan-Podvin, a certified financial therapist and a partner with MetLife’s financial wellness app Upwise, about why dating your financial opposite could actually be a good thing. What are…

Money Questions To Ask Your Partner

In this “Financially Savvy Female” column, we chat with YouTube creator and financial expert Aja Dang about the money questions women should be asking their partners and why asking these questions is so important. Talking about money can be awkward, and it can be an uncomfortable topic to broach for the first time when you’re in a relationship. But making sure you and your partner are aligned when it comes to your attitudes about money and financial plans is important for the long term, so these are conversations you shouldn’t be putting off. See: 5 Kitchen Appliances That Just Aren’t…

Here’s How Much You Need To Budget for Child Care

Having children is a magical and rewarding experience. However, parenthood is not all rainbows and sunshine — it comes with significant financial responsibilities. Student Loan Forgiveness: Is a ‘Forever’ Payment Pause Possible? FICO Figures: 3 Signs You’re Serious About Raising Your Credit Score One of the biggest expenses parents have to budget for is child care, which includes daycare, nannies and babysitters. Knowing how much to budget for these costs can help make parenting easier on your wallet.  Why Is Child Care Becoming More Expensive? According to a recent survey by Care.com, 63% of parents report child care has become…

The State of Women & Money

What Is the State of Women & Money?

Women have been making major strides in the world of personal finance. A recent LendingTree analysis found that single women now own more homes than single men. And Fortune reported that women CEOs now run more than 10% of the Fortune 500 companies. Still, the gender pay gap persists and women continue to be less likely to invest than men — even though data has shown that they tend to be better investors. To get a complete look at women’s financial standing in 2024, GOBankingRates surveyed over 1,000 American adults who identify as female about their financial obstacles and goals,…

By Gabrielle Olya

These Are the 4 Top Money Stressors for Women

GOBankingRates’ 2023 Women & Money survey asked over 1,000 American women about their biggest sources of financial worry and stress — and the No. 1 stressor wasn’t saving for retirement or paying for emergencies, but merely having enough money to get by on a day-to-day basis. Find Out: Why Stealth Wealth Is the Best Way To Handle Your MoneySee: How To Guard Your Wealth From a Potential Banking Crisis With Gold In this “Financially Savvy Female” column, we’re exploring all of the top money stressors women face. We also chatted with Lisa Jones, managing director and financial advisor at Prime…

Impulse Shopping, Food Delivery & More: Young Women’s Worst Habits

Would you be able to guess what women say are their worst money habits? Key findings in GOBankingRates’ women and finances 2023 survey highlight financial habits that women said rank among their worst. Let’s take a closer look at the money habits that top their lists, especially among young women, and tips for how women can break free of these habits. Do You Have a Money Question? Ask an ExpertDiscover: 3 Ways to Recession Proof Your Retirement Here are the bad money habits topping the list for young women’s worst financial foes. Which Money Habits Do Women Consider Their Worst?…

1 in 3 Women Avoids Their Finances: Why This Is a Mistake

How would you describe your relationship with money? In GOBankingRates’ women and finances 2023 survey, key findings revealed nearly one in three women avoids thinking about or dealing with their finances. Thinking about personal finance may not be as enjoyable as taking a vacation or enjoying a spa day, but it’s necessary in order for women to establish a healthy relationship with money. Let’s look at why it’s a huge mistake for women to avoid thinking about finance and what they can do to make it easier to manage their finances. Do You Have a Money Question? Ask an ExpertMore:…

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7 Things Every Woman Should Know About Social Security

10 Ways Women Can Maximize Their Net Worth by Retirement Age

Women Are Tapping Into Emergency Savings at High Rates — Why This Can Be a Mistake

Many Women Fear Their 401(k) Savings Won’t Be Enough: 5 Steps To Take To Catch Up

Additional Resources

Retirement at Every Budget

No matter how much you have saved up or plan to spend each month, get the latest tips and guidance on how you can make your money last.

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Strategies to Keep Your Money Safe

Protect your finances from fraud, scams and identity theft. Discover tips and advice designed to prepare you for red flags that pop up when dealing with different financial situations.

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