Women, Money and Cars
In a recent appearance on the Oprah Winfrey show, Suze Orman discussed what she knows best — Money. With an audience full of women, Suze discussed credit, debt, investing and more. This newfound awareness of women and their money is an interesting one, so much so that Orman dedicated a whole book to the subject. In it she states, Women have been thrust into an entirely new relationship with money that is profoundly different from anything we have ever encountered before. The shifting roles of women at home and at work have dramatically changed where and how money interacts with a woman’s life.
I’ll say it has, take a look at some of these statistics:
- Women control $7 trillion in consumer and business spending and make over $1 trillion dollars annually
- Sixty percent of adult women in America work outside the home and thirty percent of married women now out-earn their husbands.
- Over the past thirty years, women’s income has soared a dramatic 63 percent.
- Women bring in half or more of the income in the majority of U.S. households.
- Women account for more than 50 percent of all stock ownership in the United States.
Women have reached a time in our society where they are much more powerful when it comes to finances. Over the last several years I’ve received numerous invitations to dinners and lunches hosted by financial institutions focusing on women and money.
Why all the sudden interest and attention? Well, if the stats didn’t give you a clear answer, there’s also the fact that women are living longer (twice that of men) and divorce rates continue to climb so at some point and time in her life, a women will have to manage her own money. And we obviously need some help. With all this money and power, women can still find it all a bit intimidating. During her appearance on Oprah, Orman stated that women often don’t trust themselves when it comes to money. Her advice: Women should trust themselves more than they trust others.
There is an interesting relationship between women and money and when you add additional components to the equation, buying a car for instance, things become even more complex. Why don’t we trust ourselves when it comes to cars and money? Why haven’t we taken more interest when it comes to investing, financing and cars?
Now that we have, what can we do? How do we get the knowledge, one Oprah audience member asked? Well for one, we have to get educated. Purchasing Orman’s book is just one way to get started, among others.
So what about you? What will you do?
posted in For Women | 0 Comments

