In our country, we tend to not talk much about financial literacy, especially when it comes to women. Finances are considered to be something that is taken care of by men. For example, taking loans, creating a budget, investing, etc. is thought to be a man’s domain. This is why several women tend to make massive financial mistakes.
Financially literate women on Reddit have been talking about the biggest mistakes women make when it comes to managing their finances.
Women in finance, what is the biggest mistake you see women making with their finances? from AskWomen
Let’s set the ground for this conversation – money can make or break a person. Hence, treat money like you treat a relationship – you’d want to save it, take care of it, not get carried away, want to grow it, and not waste it away. It is very important for women to be in a financially secure place, and to expect someone else to take care of your finances would be a terrible mistake.
Here’s what women online listed:
Never rely on the ‘man of the house’ to handle finances entirely.
Not investing money and spending it on unnecessary things – like a handbag.
Not have separate savings accounts.
Lending other people huge sums of money.
Lending money and then not asking for it back.
Funding the lifestyle of our significant other out of ‘love’.
Thinking that handling finances is a ‘guy thing’.
Not budgeting and not having an emergency fund for rainy days.
Thinking you need to be a finance ‘expert’.
Buying that dress when you don’t have the money to buy that dress.
Not including your name in important papers.
Taking loans for your partner.
Instead of depending on someone else, hold the steering wheel of your own future, ladies!