KEY TAKEAWAY: Money impacts almost every facet of our lives, yet many of us receive little education on how to manage or grow our money. In today’s video, I cover 10 research-backed DOs that every woman should do to support their financial well-being.

Let me ask you a question:

How much financial education did you receive growing up? 

And who provided it?

If you are like many people, the answer to the first question will be little to none.

As to the answer to the second question, for many of us, what we learned about personal finance was not in a formal educational setting but in the home in which we grew up. Most of us learn about money from our parents, and even then, our informal education may be based more on observations than intentional discussions about how to manage and grow money.

There has been some encouraging progress when it comes to teaching our students about personal finance.

Right now, 26 states in the U.S. have mandated financial literacy education as a high school graduation requirement, and the ones that don’t have that requirement may incorporate financial education into other topics.

Still, there is much room for improvement – not only in terms of teaching our youth about personal finance topics but also in our adult population. After all, money directly or indirectly impacts practically every facet of our lives.

Think about it. Ask yourself this:

What area of your life is not touched – directly or indirectly – by money and your financial situation? 

☐ Access to basic necessities (food, shelter, clothing, healthcare)
☐ The quality of housing and neighborhood you can afford to live in
☐ Educational opportunities and your (or your children’s) ability to pursue further learning
☐ Your transportation options (type of car, ability to use ride services, public transit)
☐ Quality and accessibility of healthcare services you can receive
☐ Your ability to handle emergencies and unexpected expenses
☐ Your retirement timeline and retirement lifestyle
☐ Travel and leisure activities you can participate in
☐ Types of food you can buy and restaurants you can visit
☐ Material possessions

And the impacts aren’t limited to just how money directly influences your power to choose and do. What about the indirect way your financial situation affects you?

For example:

☐ Your stress levels and mental health (financial anxiety affects overall well-being)
☐ Your physical health through the ability to afford preventive care and healthy food
☐ Your children’s future opportunities and even social mobility
☐ Your social connections and networking opportunities based on activities you can afford
☐ Your career choices (may need to prioritize salary over passion)
☐ Your time availability (having to work multiple jobs vs. having free time)
☐ Your creative pursuits and ability to take risks (having a financial safety net enables more options)
☐ The quality of your relationships (financial stress can strain partnerships)

And, of course, one near and dear to my heart and a primary focus of my book, The Personal Power Program, is this one:

☐ Your sense of personal empowerment and feeling that you have options – that you have the power to choose and do in your life.

After all, our financial situation determines how financially empowered we feel, and the difference between feeling we have the financial wherewithal to make choices and not is the difference between feeling empowered vs. powerless in our lives.

So, what boxes didn’t you check?  

You probably checked them all.

And while I am certainly not suggesting that money is everything – it is not the solution to every problem, and it can’t buy good health, love, fulfillment, or inner peace – money can give us the practical resources that can make the path to finding solutions, doing what aids our health and relationships, and having the life conditions and experiences that support our fulfillment and peace that much easier.

And it starts with knowledge. 

The more informed we are, the more informed decisions we can make, and that goes for our financial decisions, too.

To that end, in today’s video, I share 10 research-backed DOs for every woman who wants financial well-being.

 Watch today’s video or go to the direct link https://youtu.be/xkdS1WyyZ6o

References:

Tamplin, True (2024, August 13). Financial Literacy In Schools Is Improving But More Needs To Be Done. Retrieved from https://www.forbes.com/sites/truetamplin/2024/08/12/financial-literacy-in-schools-is-improving-but-more-needs-to-be-done/

IMPORTANT: The information provided is for educational and informational purposes only. It is not intended to be a substitute for professional advice, diagnosis, or treatment. Always seek the advice of a qualified professional with any questions you may have regarding the topics discussed here as the topics discussed are based on general principles and may not be applicable to every individual. 

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