A Taboo Topic? Women and Money...

I'll admit it--I'm a writer for a financial services company, but I don't always find reading, talking or writing about money interesting (give me InStyle or Jane Austen any day!). But I recently read a book that may have changed my mind ... and made me realize how important my work as a financial writer (unexciting as it may feel at times) may be in the lives of real people.

Money: A Memoir - Women, Emotions and Cash by Liz Perle exposes facts about women and money--and how we as a society often relate to it. While I may not agree with everything Ms. Perle argues, I do think that the book presents some valid (and sometimes alarming!) information ... pointing to the need for people to learn more about money ... and for Christians to teach God's perspective on money to others (even if it's just our own kids).

Interesting facts, quotes and ideas from the book...

• "...More women will file for bankrupcy this year than will graduate from college, suffer a heart attack, or be diagnosed with cancer. More than half of retired women live in poverty."
  
  
• "Boys weren't told that talking about money was 'not done', immoral, selfish, tacky or just plain bad manners."
  
  
• "For boys and men, money and providing determine their feelings of self worth. Womanhood is still very much connected to a girl's beauty and to her ability to connect to others in relationships." (According to financial educator Joline Godfrey - as quoted in this book)
  
  
• "Women lack confidence and interest in investing or managing money. As a 2005 Merrill Lynch Investment Managers' Survey put it, the reasons come down to 'time and fear.' "
  
  *Personal sidenote: This is despite the fact that women have been shown to be as capable at investing as men. Interestingly enough, when both women and men are involved together in investment decisions, their returns are higher than when either gender makes investment decisions exclusively. See more.
  
  
• More than half of American women have no pension coverage (versus 25% of men). On average, women live 7 years longer than their husbands. Women comprise 87% of the impoverished elderly.
  
  
• (Probably my favorite quote in the book...) "I think we're scared of the power (of financial security). Power demands that we stand up and think and act for ourselves. It demands that we take up space, that we value ourselves. With power comes responsibility and visibility." (Money expert Barbara Stanley, as quoted in "Money: A Memoir")