SEX, GENDER & CASH.
Welcome To Feminist Finance!
Things to come at FeministFinance.com
I am a twenty-something professional woman living in the midwest with my sweetie. We're planning to get married in about a year, and are integrating our finances slowly but surely in preparation. Between the two of us, I am the primary breadwinner, and I work in a male-dominated field--the storied private law firm. I am a saver, a student loan debtor (shocker!), a retirement investor, and a homeowner. Oh yeah, and see above: I'm a feminist.
I have been reading personal finance blogs for a while now, and have learned from them, but I haven't seen much discussion about personal finance topics & gender lately. How much standard personal finance advice is equal access, and how much assumes its audience is made up of men? Why are so many women continuing to leave private legal practice and what does that mean--economically, professionally, culturally--for the rest of us?
That's a flavor of what you can expect to see here. Leave a comment if you've got other suggestions.
Low Mortgage Rates Create Long-Term Investment Opportunities
The housing bubble of the '00s put big holes in many retirement and pension plans, losses that have yet to be recovered. These losses were created by fund managers that made bad decisions and felt that the cost of housing was always going to go up, completely ignoring historical trends saying otherwise. However, housing as a whole is still a stable place to keep some investment money.
Mortgage rates have been at historically low rates for some time and the Federal Reserve has shown no indication that they have any intention of raising it anytime in the near future. While this is not going to create another bubble, it does attract the kind of people who should be buying homes. Low mortgage rates make the monthly payment easy to handle for those who are steadily employed and are responsible with their money. Having these types of home buyers make for a steady, long-term investment vehicle.
Retirement fund managers need to stay out of the housing funds unless they intend to make them a small section of the portfolio and leave them alone. Low mortgage rates and tough lending standards are going to keep attracting reliable buyers over a long period of time. In turn, they help a fund grow through the years, but only if managed wisely.
Mortgage rates always fluctuate and do play a part in people's decision to buy a home. Wise buyers purchase the home they need and keep mortgage-based investments a viable money-making vehicle.
More Women Battle Bills Through Debt Consolidation
With the recession in full swing, more and more women are seeking debt consolidation services. According to a 2010 study conducted by CareOne Debt Relief Services, one of the nation's largest debt relief organizations, the recession has drastically increased the debt load women are carrying and has also altered the female demographics who are seeking debt consolidation services. Data from this organization shows that an increasing number of high-income women are seeking debt consolidation services to lower their monthly bills and pay off debt faster.
Women are carrying more debt than they were just four years ago. This has led to a dramatic 50 percent increase in the number of women seeking debt consolidation services. Statistics from the U.S. Census show that the average American is carrying nearly $8,000 in debt. Roughly one-third of all debts are in the form of revolving accounts that continue to grow before they are paid off. The most troubling statistics is that the percentage of women carrying more than $50,000 in debt jumped from 33 percent to 45 percent between 2007 and 2010. However, the number of debts under $10,000 decreased during the same period.
Studies show that men and women have drastically different views when it comes to saving money and managing debt. The good news is that the financial attitudes women have make them more likely to enroll in debt consolidation plans, curb spending and get out of debt faster.
Statistics Suggest Credit Card Debt Relief May Fall to the Female Partner
People who are old enough to remember can probably readily answer the question, "Who 'governed' the family in traditional television shows like 'The Waltons' and 'Leave it to Beaver.'" The answer is rather obvious -- the father. Statistics suggest that today's family might not be much different. According to American Express, in most households, men are more likely to handle taxes, credit card payments and loans.
Women, however, aren't silent. In fact, the data suggests that they are more likely to handle what is -- arguably -- the most important financial job: the daily budget. In fact, in 70 percent of American households women make the budget.
The new statistics imply a number of important issues about women and money. First, modern women are obviously active in managing their family's finances. Second, choosing credit card debt relief may now be up to the female partner. As handlers of the budget, women can contribute more money to credit card debt each month, making getting out of debt easier.
At Feminist Finance, we understand that issues of gender, sex and finance are not often discussed, but they are out there, and they are important. We aren't afraid to discuss these issues, helping women understand what factors might play a role in how they manage their family's money and seek credit card debt relief for their husbands and children.
Women, Not Men, Drive Home Renovations
So often women investors go with the flow of where men think the money should go. And there is nothing wrong with that, but it doesn't encourage thinking outside of the box. Women see avenues for investment that men overlook, such as a company that does San Diego room additions.
So why does a business that does San Diego Room Additions make a good investment scheme? Well, women think about their homes and what they can do with it. When it comes to doing room additions or whole home renovation, it's the woman of the house that drives the decision. The husband just goes along with what the wife wants.
Even in a down economy, people still look to do something with their residences. Companies that do home additions are a solid bet for steady financial gains. Look into businesses that have been around for a while.
Although I may occasionally discuss legal issues on this blog, nothing I write here should be understood as legal advice. You are not my client. I am not your attorney.
In fact, I'm not actually licensed to practice law in 49 out of 50 states, probably including the one you are sitting in. On the internet, I'm just a woman with a lot of opinions and a keyboard.