- ORIGINAL NEWS
Many women today are looking for ‘financial peace,’ expert says. Here’s how they can achieve it
- SUMMARY
For women today, financial peace means being able to handle present obligations while saving for the future.
To achieve this, experts recommend tackling debt and saving simultaneously.
Pay down debt while also taking advantage of retirement plan contributions and building up emergency funds.
Start saving early, even if it’s just a small amount, and consider investments for long-term goals.
If needed, seek help from a qualified financial planner who has experience, credentials, and can communicate effectively.
Due to societal biases, women may face a financial literacy gap.
To address this, women are encouraged to enhance their financial knowledge through research and professional guidance.
- NEWS SENTIMENT CHECK
- Overall sentiment:
positive
Positive
““It looks like being able to meet my obligations today, while being able to save for tomorrow,” said Chatzky, speaking at CNBC’s Women & Wealth event on Tuesday.”
““And having some degree of confidence that … my money is going to last as long as I do.””
““This is a great year to get started,” Sun said.”
“Research shows that women are excellent investors, Chatzky said.”
Negative
““There is no doubt that debt is a huge financial stressor,” she said.”
““When we look at the things that make us most unhappy when it comes to our money, debt rises to the top of the list.””
“There’s no question women struggle with taking investment risks, Chatzky said.”
“When polled, men are more likely than women to correctly answer questions on topics such as borrowing and saving, research finds.”