Raising our financial intelligence.
In previous generations, women and finances were seldom connected. For whatever reason the role of “family CFO” often fell on men’s shoulders. But recent years has seen a shift in this dynamic:
- More than half (51%) of women surveyed reported that they are the CFO of the household
- 37% are primary breadwinners
- 53% are responsible for managing the household’s long-term savings and investments
(Source: Allianz "Women, Money, and Power" study, 2017)
I have seen this happen in my own life: I and my peers are marrying later and as such I had to become my own household CFO. Luckily my career allowed me to learn as much about personal finances as needed to ensure my own financial security. Most are not so lucky.
Many women come to a realization at some point in our lives – we should never relinquish control of our own financial destiny. Thus, by "raising our financial intelligence" we put ourselves in the best position to make independent choices that fit our needs and wants.
The Women and Finances Advocacy Network (WAFAN) is a community of experts in areas of personal finance. Contributors are all women dedicated to helping fellow women raise their financial intelligence. We are made by women, for women, and provide experts to work with in attaining solutions to our personal finance challenges. Furthermore, we make available resources and foster collaboration to empower all of us act intelligently when securing our financial lives.
Let the collaboration begin!
Executive Director, WAFAN