A Look Back of Financial Planning and Stories from Inspiring Women

8th of March it is celebrated around the globe as Women's Day. This day is celebrated in order to acknowledge the rights and contribution of women towards the society in which they are living. This fact cannot be neglected that women in modern day is more contributor towards the society as compared to the previous woman. This is mostly because of the fact that women's now have proper rights which day can execute in order to live their life in this society. In previous time, most of the society was occupied with male members but time is changing with the passage of time. Women are now more educated as compared to old time due to which they are now capable of significantly and positively contributing towards the society in which they are living.

Women of modern day are capable of living independent life mostly because of the education which they have and difficult level which they have. In old times women work required to take care of their husband, family members, children and sibling. Now, Women are more synchronized with other aspects of the society as well which has significantly enhanced the role of women in modern society.

Men vs. Women of Financial Planning and Stories from Inspiring Women

Most of the male members living in the society believe that they are providers in the family while women are responsible for managing the family oriented affairs and house related affairs. It is important to understand that when women and men both share the responsibilities together then it becomes easy for both of them to manage affair easily.

Studies in the past have suggested that women have comparatively left knowledge related to finance and investment. It is important for female members of the society to enhance their knowledge related to taxation, finance and investment in order to play equal and significant role in society as compared to men. It will help female members of the society to contribute positively towards the society and it will also increase their participation towards the society. It is important for them to understand and differentiate between long term and short term investing goals so that they could formulate there on Independent short term and long term investment sold depending upon their investment capabilities.

National Center for Women and Retirement Research

Different studies have been conducted in pass by National Centre for women and retirement in investigating the relationship between financial habits of female members of the society and their personality characteristics. According to the Recommendation of the studies, it is important that female members of the society should educate themselves with appropriate complicated as well as time consuming financial decisions which will help them to achieve goals in their life. This will also help them to make themselves independent in case of any problem in their life.

Study suggested that most of the women are three times likely to save less for their retirement as compared to male members in the society. It is important for the female members to understand the importance of saving for retirement. They must learn that how they can rise earning and utilize total forces in order to fulfill their goals and financial objectives.

Harvard Business Review Studies

Harvard Business Review recently published a study in which they concluded that approximately 93% of qualified women want to return to their career. It has now become difficult for them to return to their career because it is not challenging for them to compete in market as they acknowledge has become obsolete with the passage of time. Career development is considered to be one of the most significant aspects for educated women in order to become financially independent.

Study also suggested that men are able to make more money as compared to female members in the society. Average wage rate of men is normally higher as compared to female members in the society. This gender gap in terms of financial aspect is hurting the female members of the society and is negatively influencing the society. Study also suggested that most of the female members of the society are not able to perform higher then male members in answering basic questions in interview. Study suggested that most of the female members of the society respond with "don't know" to most basic questions.

Wage Difference of Financial Planning and Stories from Inspiring Women

According to a study conducted in 2017, it was concluded that female members of the society are paid approximately 80 to send for every dollar earned by the male members of the society. It is important to have equal wage rate for male and female members in society because of increasing number of divorce related cases in modern society.

Studies conducted in past suggested that approximately 25% of the divorces are before the age of 50. It is important that female members of the society should have appropriate amount of saving for their retirement which they can use in order to invest in any kind of business to earn profit on it. If they do not have appropriate saving level then they will not be able to live proper and happy life after retirement. Average life expectancy for male is decreasing with the passage of time due to which it has become more important for female to become independent.

Financial Planning and Stories from Inspiring Women

Different studies have been conducted in past related to financial knowledge of female members of our society. The study was mostly suggested that women are not as effective as men when it comes to finance management. Most of the female members of our society are not able to practically implement financial knowledge. They are not capable enough to handle financial situations as effectively as men in our society. This concept is not entirely applicable in Canada because women in Canada have different significant opportunities which they have utilized effectively and most of them are now living independently in Canada.

One of the most significant reasons for this is that women in Canada have much more opportunities as compared to women in other parts of the world and women living in Canada are more educated in terms of financial knowledge as compared to other women living around the globe.

Pauline Paquin – Be a Financially Independent Woman Would Change Your Life:

Pauline Paquin is a financial expert and she has written many important books on different concepts of Finance. She is capable of managing the finance easily as compared to other women. One of the most significant reasons of handling finance related matters effectively is her upbringing. She used to take 20 Dollars from uncle every night in order to purchase grocery for next day. This helped her in managing the grocery purchase from her childhood which ultimately helps her to understand the concept of effective management. She started a business with her boyfriend on 50/50 partnership. She used to give gift to others of same amount for which other used to give her. This helps her to effectively understand leave concept of finance and also helped her to become financially independent. She was not in favor of depending on her boyfriend from financial perspective. She always wanted to earn money independently in order to meet the expenses independently without asking her boyfriend for financial help.

Julie Hyunjoo Lee – Start Investing Your Money Even in a Small Amount:

Julie Hyunjoo Lee is the founder of pinkfolio. She was always of a view that women should start investing in small businesses with small amounts if they are not capable of investing in large businesses. She emphasized on the importance of investing in business even if the investment is in small amount. Especially after global financial crisis in 2008, it was difficult for the investors whether male or female to invest significant amount in different types of businesses. At this time she received significant advised from her banker that she should start making small investment as it will help her to make herself financially independent. Most of the women are uncomfortable for making investment in any kind of business but it is important for them to learn regarding personal finance and investment in order to improve their investment related knowledge and skills. This was the basic reason due to which she created pinkfolio. She wanted to enlighten women with importance of making investment in order to support personal finance.

Katherine Hague – Educate Yourself on Whys and How to start-up an Investment:

Starting of an investment is very much important for entrepreneurs. It is important to first take appropriate education and knowledge related to starting up investment in order to make that specific investment successful. Katherine Hague did significant amount of working on this topic area she used to work as marketing executive in a Toronto based company. She got the experience of entrepreneurship from this platform. She was always of a view that women should learn how to start up investment and why to start up investment in order to become financially independent and in order to make their investment effective as well as efficient. She suggested that most of the women waste their money on different type of shopping which is not important. Due to this attitude, they waste most of their money which they should save and invest in different type of investment related activities. She suggested that female members of the society should learn how to start their business although it is one of the most difficult tasks but it will help them in building their wealth and to become financially independent in this modern society.