March 05, 2013

Family and Money

March 05, 2013/ Elizabeth

Today's posts are all about family and money. Check them out below:

On Women's Money Week: The Cost of a Baby Isn’t as High as You Think (But There are Surprises)
From MoneyCrush: Tired of Fighting About Money?
From Ideas For Women: Money, Finance, and Investing Blog:4 Tips to Balance Your Family’s Income and Time Needs
From Payoff: 5 Ways to Teach Children to Be Smart With Their Money
From NZ Muse: Family and money, obligation and guilt
From OCCA Consumer Debt Relief: Dealing with Debt during a Divorce
From New School of Finance: Stop Bikering About Money
From Femme Frugality: The Cost of Children: Health
From Chicago on the Cheap: Kids and money
From Eboo Saves: Family and Money
From Money Master Mom: Yearly Expenses for a Family of Five
From Monroe on a Budget: Don't let high school keepsakes eat your budget
From Northern Cheapskate: How to Decide If You Can Afford to Have Kids
From Tackling Our Debt: Are Your Family Vacations Frugal or Expensive?
From Financial Woman: Who is in Charge of Money in Your Home?
From Family Money Values: Let Your Children Work
From Single Moms Income: Shielding Children from Financial Struggles as a Single Mom
From The Road Not Chosen: Family and Money - Cost of kids
From Budget for Health: Leave the light on, pay a quarter
From Go Green Travel Green: Is a Growing Family the Reason I Want to Travel Less?
From Mo' Money Mo' Houses: Why Family & Money Should Not Mix
From My Dog Ate My Wallet: Family and Money Update
From Fiscally Chic: Do You Need Life Insurance?
From November Sunflower: When does it make sense for someone to stay home with the kids?
From One Frugal Girl: Who Is In Charge Of Your Finances? In My House We Are Equally Responsible.
From Little Miss Moneybags: Money and Family
From Barbara Friedberg Personal Finance: How to Talk About Money with the Family - the M Word
From Suddenly Frugal: 8 Tax Benefits of Being a Parent
From Money Crashers: How to Make a Family Budget With Your Kids
From Becoming Me: The Absolute Best Resources for Family Budgeting
From Fat Wallet Blog: 10 Ways to Include Your Kids in Your Family Finances

Women's Money

personal financial education for women, girls, business owners, latinas, military, families and seniors

Why We Serve Women & Families

66%

66% (that's 2/3rds) of Household breadwinners and co-breadwinners are women. - The Shriver Report

1 in 3

1 in 3 women lives in or on the brink of poverty. - The Shriver Report

3 out of 5

3 out of 5 women over the age of 65 (married or single) cannot pay for her basic monthly needs.

80%

The median earnings for all women are $638 a week, compared to $798 for men–approximately 80% of what men earn on average - The Bureau of Labor Statistics

The Wage Gap = Poverty

If Women were paid the same as men for the same job, poverty in America would be reduced by 50% - Women21.gov

Purchasing & Banking Power

Women account for 85% of all consumer purchases on everything from autos to health care including 89% of Bank Accounts. - Marketing to Women Conference

84%

84% of Women feel misunderstood by investment marketers - Marketing to Women Conference

Less Than 20%

Fewer than two in 10 women feel “very prepared” to make wise financial decisions. Half indicate that they “need some help,” and one-third feels that they “need a lot of help.” - Financial Experience & Behaviors Among Women 2010−2011

40%

Women own 40% of all stocks. - A.T. Kearney

15%

The average woman spends 15% of her working years outside of the workforce caring for children and elderly parents compared to the average man’s 1.6%. - Women’s Institute for a Secure Retirement and National Center for Women’s Retirement Research

2/3rds

Nearly two-thirds of U.S. women ages 40 to 79 have already dealt with a major financial “life crisis,” such as job loss, divorce, the death of a spouse, or serious illness. - AARP, “Understanding Women’s Financial Needs and Behavior,” 2007 survey.

80-90%

80-90% of women will be solely responsible for their finances at some point in their lives- mainly due to divorce and the fact that on average women outlive men by seven years - National Center for Women and Retirement Research

Women Aim Lower

Even though women have a longer life expectancies, when asked how much they were aiming for in retirement savings, women aimed lower, with a median goal of $200,000 versus $400,000 for men. - Retirement Fitness Survey 2010

As Seen In

*Statistics are drawn from the Census Bureau, WOMMA, BSM Media, The Shriver Report, Sheconomy, Wow Online, and the Gamma Report.

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