In her candid piece, titled The Ongoing Joke About Women And Money Isn’t Funny Anymore, in The Establishment, writer Monica Drake writes about the stereotypical wife character who is ‘bad with money’ and becomes the butt of every party joke ever cracked by men.
What does she buy, Drake asks: “Probably shoes, designer jeans, and hair products.” And, what about the ‘husband’ character? He buys, she writes, “Serious things. Stocks, insurance, booze, gasoline, and sandwiches.” She finishes this off with a dollop of sarcasm saying, “Most of all, I’d say, he buys into thin stereotypes.”
From as far as we can remember women are associated with such flippant and irresponsible labelling when it comes to their relationship with money. However, data seems to prove otherwise. According to studies, women are increasingly becoming the sole or primary source of income for almost half of all households with children under 18 in the US.
According to yet another study conducted by the center for Talent Innovation, it was found that 66 percent of women in the US, UK, India, China, Hong Kong and Singapore identify themselves as the primary decision makers over household assets. Yet, more than 67 percent of them feel misunderstood by financial advisers.
Do women need different kind of financial advice?
The answer to this question is both yes and no. Women need financial advisers to recognise and empathise with the fact that they are dealing with a different set of challenges as compared to men. And, they do not want advice to be limited to or reduced to what Drake pointed out — grocery shopping, makeup, clothes and so on. They are looking for real, practical and sensible advice on managing money.
And, that’s where we come to the whole point of this post.
This Women’s Day, we thought of creating a list of 5 top women bloggers in the personal finance space. These are women who have been successfully inspiring and empowering millions of other women around the world to make good financial decisions. Their blogs/podcasts may not only be targeted at women, but they are definitely invaluable resources that every woman can fall back upon.
So here you go…
5 Women Personal Finance Bloggers To Follow Right Now…
…(in no particular order).
Chelsea Fagan of The Financial Diet
Young and hugely entertaining, Chelsea Fagan is the force behind the millennial money blog, The Financial Diet. The blog is a collection of no-nonsense advice and personal experiences of millennials, some of whom are still figuring out money in their own ways. From its launch in 2014, TFD has grown to include more voices and diversified in terms of the type of content they create. They also boast a huge community that is always actively engaged in discussions regarding money and living a better, more comfortable life. The articles are always written in an open, non-judgemental tone and it doesn’t make you feel embarrassed about your money mistakes. Instead, it gives you hope that no matter how bad you screw up, there is still a chance to get things back in order.
Follow, if you are looking for: Money advice for millennials, saving tips, real-life success (and failure) stories and a dash of humor.
You can start by reading: 6 Honest Questions & Answers Between 2 Friends With Very Different Incomes
Paula Pant of Afford Anything
For a large part of her life, Paula Pant lived like any one of us. She went to college, took on her dream job that paid her well and survived the usual daily rut. It wasn’t long before she realised that what she was looking for was not just a comfortable life. She was looking for freedom. To make her own decisions without worrying about how much she would be paid. And, then she decided to turn her life around. Her blog, Afford Anything, tells her story from being a freelance writer to a successful entrepreneur and real estate investor. She helps women and men take better decisions and align their habits in a way that helps them reach their dream lifestyle goals. We love that Paula lays her mistakes bare open so that others can avoid them and makes it appear as if the goal to being able to “afford anything” is not as impossible as it sounds. She makes it clear why irrespective of where you start, it all boils down to making smart, informed choices.
Follow, if you are looking for: Advice related to early retirement, financial freedom and real estate investments.
You can start by reading: Feeling Overwhelmed? Here’s Why Simplifying Is The Smarter Choice (And How To Do It)
Farnoosh Torabi of the So Money Podcast
Ever longed to discuss all your irrational fears and anxieties about money with someone who would patiently listen to them? Someone who would empathize with you and help you figure out the best possible solution for your problem rather than give you a set plan that may have worked for a few others? Enter Farnoosh Torabi, a personal finance expert, blogger, author and what not! Farnoosh does not just scrape the surface when it comes to money talk, but digs deep and helps you find out psychological or emotional blocks that is preventing you from achieving what you want. Her advice is both rational and emotional, and is backed by research and experience.
Follow, if you are looking for: Advice on dealing with money in relationships, teaching kids about money, building wealth, practical financial advice, success stories of women entrepreneurs.
You can start by listening to: Should I Budget Money Separately From An Emergency Fund To Take Off Time From Work
Anna Newell Jones of And Then We Saved
Debt-free living crusader Anna Newell Jones, too, like many other women personal finance bloggers, learnt from her own mistakes. She was neck deep in debt, but invented what she called a Spending Fast, which helped her pay off her debt in a record time of just 15 months. Her blog, And Then We Saved, has helped readers save over $2,250,000 in total, and takes you through a three-step plan to crush your debt. Anna understands the shame and isolation debt carries with it and is determined to support and motivate you to find a way out. A self-proclaimed spender, Anna also talks a lot about how to keep spending cravings in check and how to stop feeling deprived while saving.
Follow, if you are looking for: Advice to get out of debt, a community actively engaged in cutting down spending, to live by without spending.
You can start by reading: 64 Insanely Easy Ways To Save Money Around The House
LaTisha Styles of Young Finances
Every personal finance expert will tell you that to save more money, you will need to either spend less or earn more. LaTisha Styles focuses on the latter part of this advice. Her blog, Young Finances, was born out of her desperation of not being able to find a job even after holding two masters degrees. The blog, as its name suggests, helps young people start businesses or side hustles of their own and make more money. From bare basic budgeting tips to advice on online entrepreneurship and investments to build net worth, Young Finances is a storehouse of information for personal finance newbies.
Follow, if you are looking for: Advice on starting a new business, budgeting tips, investment advice, career advice, tax tips.
You can start by reading: The Ultimate Tax Guide For Young Adults
So, there you go! This is not, by any means, a comprehensive list. This is, in fact, just a beginning.
Let us in on your favourite women bloggers in the comments section below. And, by the way, here’s wishing you a very happy Women’s Day from BudgetBakers!