As gender role lines are slowly being erased, more and more opportunities for advancement are being opened up for women. Women can hold any role in an organization, start their own business or be a stay at home mom if that’s what their heart desires.
This array of choices wasn’t true for the generation of women before me, and is only partially true for my generation. But I believe my daughters’ generation will have the world wide open to them.
Even now, more than a third of American women are now the family breadwinner according to TIME. According to this same article, however, most women lack the long-term vision for investing and wealth building compared to men. They are happy to shop and save money, but they just aren’t planning for the future.
I want my daughters to not only have opportunities opened to them, but I want them to understand what they need to do to protect their assets and grow them for their future families.
After reading the TIME article, what do I wish for my girls?
- I want them to have confidence in their financial decisions.
- I don’t want them to worry about money – I want them to believe things will always work out, because they do.
- I want them to take charge and be in control of the financial decisions that affect their families.
- I want them to not only make financial goals, but to fully understand the numbers behind making those goals a reality.
We try to be as open with our girls about money as is appropriate for their age.
We talk them about how we, as a family, budget for our needs and don’t spend excessively. They understand that the more money we spend, the more mommy and daddy have to work to earn that money.
We value time as a family over money.
They both have piggy banks and understand that money should be saved for something they really want – we don’t spend money just to spend it. We spend on needs first, and save to buy the things we want.
As they grow older, we’ll add more lessons, but for now, at ages 3 and 4, these are the lessons we choose to focus on.
I appreciate companies like Genworth Financial, who have financial resources designed specifically for women. We will likely draw upon information from these sources as we make plans to further educate ourselves and our daughters about money.
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