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TIME recently featured the cover story by Liza Mundy called The Richer Sex: Women are overtaking men as America’s breadwinners. Why that’s good for everyone. The crux of the article is that “in 2009 (the most recent year U.S. Bureau of Labor stats are available), nearly 4 in 10 working wives out-earned their husbands — an increase of over 50% from 20 years before.” The trend is predicted to keep growing.

I am not one to buy magazines, but this was too intriguing to resist. I found the article enlightening, and even highlighted passages. But my post focuses more on articles and blog posts commenting on the TIME article, notably Daily Worth’s commentary The Female Financial Paradox; they noticed the author missed the powerful story within this trend:

“Female breadwinners may be on the rise, but women are not poised to become “The Richer $ex,” as TIME’s cover boasts. Far too many women are stuck in a financial time warp where managing money means being frugal, not building wealth.” (emphasis theirs)

Bingo.

I couldn’t have said it better.

This problem lies in the lack of consistent financial education starting at a young age. Now, I personally believe there are more dimensions to money than just the practical, but we women wouldn’t be wasting our time trying to learn how to balance our dollars and cents the hard way — through trial and error — if we were taught how to do it when growing up, before we were launched untrained into a world of earning, spending, saving, credit and taxes as a rite of passage into and throughout adulthood.

The next thing that struck me were the reader comments following the Daily Worth’s and other blog posts.

I had a mix of emotions when reviewing the comments. I read mention after mention of women who knew they had a dysfunctional relationship with money, but didn’t know where to turn to take action. My heart went out to them because I’ve been there, and it’s the reason I launched Healthy Wallet… because I felt I had nowhere to turn when I suffered. It also gave me hope that I am putting my heart and soul into Healthy Wallet for the right reasons, to give women the outlet they are looking for. They can safely peel back the layers to discover their money story, eradicate the self-sabotaging beliefs and emotions about money, and re-write their financial future.

 

 

2 Comments
  1. Hi There!

    May I re-blog this with a short intro on my blog? (And trackbacks to your site)

  2. Hi Shilpa! You are welcome to re-post on your blog. Thanks for the consideration! :-)

    Cheers, Marla

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