Finance for women? Absolutely! When it comes to skills and not financial products

Emotions sometimes run high during financial courses for women. It says: “Women aren’t stupid!” Such statements confirm that financial offers for women hit a nerve and are correct

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In our society, anyone who wants to live a self-determined life needs everyday financial knowledge as well as a good deal of knowledge about building and managing wealth. Money runs through our society and economy like blood runs through our bodies. Who therefore about finances not In the know, depends on the knowledge and goodwill of others, and often falls far short of the opportunities that life offers – like living according to your own ideas and values, building a company, pursuing personal dreams, and having enough money in old age when we no longer want or can work for money. to seize life chances. Behind this is always financial self-determination and thus knowledge and skills in dealing with money.

Financial knowledge opens up living spaces

It starts small with questions about how one’s own money can be well structured, for example in order to build up reserves and to see money as a pleasure instead of a burden. Or: How many accounts make sense and how money can be dealt with fairly in the relationship, especially if children are planned. Or: Which tax classes do what? Why is it useful to file a tax return? What do I live on in old age? And what do I want to earn? Thinking about money, talking about money and seeing money as a personal life resource – all of that is financial self-determination. We don’t learn that in school, but through life. For centuries, women’s lives have been one of dependency, not self-determination.

Historical connections and legal role attributions

Most women were not allowed to acquire financial skills in the past centuries, neither as adolescents nor as adults. (Married) women in the Federal Republic of Germany, for example, were legally denied independence until the end of the 1970s – they were only allowed to work part-time with the consent of their husbands, they were not allowed to manage their own assets and they were not allowed to have their own bank accounts. Feminine financial reality meant housekeeping with money allotted for family expenses and, to look neat, coupled with close accounting with husbands.

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Investing Basics Part 1

Six questions that must be answered before investing

12.02.2021

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Saving is postponed consumption and it only becomes an investment when you invest it. But first, you need to step back and ask yourself six questions. Only when you know the answers can the investment succeed

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This allocation of roles is still deeply rooted in our company and is reflected in the remarks quoted above or statements: “If people who are not familiar with the stock market suddenly invest in stocks”, a “housewife rally” would start and then experienced people would already know, namely to get out of stocks now. Or the “gender divide” that deepens when women deal with finances is used.

Financial knowledge also means power over yourself

I have never heard such malicious and ignorant remarks from real experts. It is clear to those who are familiar with finance: money is neither male nor female nor diverse. It’s something anyone can learn to do and it’s power. Power over others and, and this is especially important for women, power over themselves.

So when women deal with finances in general and with their money in particular, they close the gender gap of unequal treatment and systemic disadvantages. So they do the opposite: they make privileges visible and conquer equal opportunities. Gender Pay Gap, Gender Pension Gap and Gender Care Gap – all structural disadvantages of women, which have their roots in our history, culture and religion. Financial literacy is a key to bridging these gaps so women get the money they deserve to do what they think is right.

Women are catching up and empowering themselves

This is urgently needed. Because earlier certainties that the statutory pension or the joint assets with the husband will be enough in old age no longer exist. In addition, banks, asset managers and structured sales companies have discovered women as a sales target group and have been offering special financial products for some time – such as “women’s funds” or “pink funds”. The special needs of women play no part in it. They are simply repackaging for rip-offs in the industry. There are even reports that “women’s funds” are said to be more expensive than comparable funds offered to men.

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Investing Basics – Part 4

This is how you structure your assets correctly

17.02.2021

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The provision for phases of crisis and old age is in place, the debts have been paid off, so time to invest. Part 4 of the “Fundamentals of investing” dossier explains how to best divide your assets across different asset classes.

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Offers of financial education for women empower women to understand the technical-abstract language of the male-dominated financial world and to use it for themselves. And women are catching up. Of the 12.1 million people who own stocks and stock funds in Germany, 4.3 million are women, according to Deutsches Aktieninstitut. Ascending trend. Slowly, but increasing. Financial bloggers, who have been working intensively on the topic since 2016, have made a particular contribution to this. They aroused interest, made the topic tangible, explained connections, offered discussions, opened up networks, explained everyday questions in clear language, independently and curiously.

For a self-determined life

Only financially educated people deal with money and investments in a way that is good for them and does not enrich others with them. Financial education supports us in life. Therefore women, get to the educational opportunities. For more responsibility in personal money management, in relationships, at work. For you and your daughters. So that we women – together with our husbands and partners – can live as we want and not as others plan for us.

Danes and Parthians is a graduate economist, money coach, financial blogger and author. Under the brand money woman she supports women in shedding their fear of finances and in developing strategies for themselves to deal with money in a self-determined manner and build up assets.

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