Money is one of the most important aspects of our lives, yet it can be a daunting subject to discuss, especially for women. Over the years, women have faced numerous challenges when it comes to their relationship with money. From earning less to outliving their male counterparts, women have had to deal with a range of factors that impact their financial lives. Additionally, women tend to be more cautious about money, which can have an impact on their financial decision-making. But these challenges should not stop women from taking control of their financial future.
Gaining financial independence through education
To break down some of the myths surrounding women and money, we need to provide women with more educational resources to help them build better financial futures for themselves.
Insufficient knowledge about financial matters is one of the biggest impediments to a sound investment. Indeed, in a recent report by Bank of America, 50% of women aged 65 and over said that their biggest financial regret was not having started saving or investing sooner, while 29% aged 22-39 said they regretted not educating themselves more about money. Providing education, guidance, and advisory services can go a long way to building financial independence. Women should take advantage of all the products and services out there that can help them plan, save, and invest in the future.
A change in attitude
Feeling confident and comfortable when talking about money is key to financial success. We need to dispel the popular myth that “money isn’t for women” and help forge new relationships and experiences between women and their money.
Asserting that level of confidence to talk about money requires removing the emotional factors and baggage that women carry from their childhood, and that is deep-seated in our society. According to Bank of America, many women would rather discuss end-of-life (85%) with family or friends than money (60%). Money has culturally been a taboo subject for women, and I have found that in some cultures, women are told not to talk about it in public.
Innovation is the key to success
Innovation is key to seeing money in a different way. We need to experiment with our money and approach it in a different way if we are to break down the barriers that prevent us from building wealth. The digital finance system offers an easy way to gain access to the world of investment and can help women who are underserved by the traditional finance system. Cryptocurrency is one such innovation that can democratize investments and make them accessible to everyone.
When I was a child, my father asked me what I wanted to be when I grew up, and I told him I wanted to be a princess. He assured me that my dream would come true but that I would be a princess who built her own castle. He believed in me and in my potential to build my own wealth.
At Unicoin, we believe in creating a next-generation, transparent, and SEC-compliant crypto that is designed to pay dividends and that provides stability amidst a volatile cryptocurrency market. We invite women to embark on their own investment journey with us and reap the benefits of taking control of their financial future.