International Women’s Day: 5 common money mistakes women should watch out for

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Frequently, the focus is on discussing the wealthiest men globally, yet it’s worth considering the presence of affluent women among us. One might assert that their number is limited, prompting us to emphasize the importance of women being equally adept at managing finances as men. This could stem from women potentially repeating financial errors or making imprudent decisions due to hesitancy in sharing money-related matters with peers.

Kindness is a positive trait that we value in women. However, excessive niceness may lead to a lack of assertiveness or awareness in financial matters. The very characteristics that define femininity can sometimes hinder the path to financial independence for women.

Consider, for instance, how often you encounter women openly discussing their financial affairs. It’s uncommon to hear many women thoroughly examining a loan agreement before signing it, scrutinizing a purchase document before making a payment, or candidly addressing performance appraisals or salary increases in their jobs.

As we commemorate “International Women’s Day" on March 08, an annual celebration, let’s direct our attention to this year’s campaign theme, “Inspire Inclusion." The overarching theme, “Invest in women: Accelerate progress," emphasizes the imperative of promoting financial literacy among women and involving them in decisions related to making or saving money for the future.

Transformation is a gradual process that unfolds over time, not an instantaneous event. To break free from financial pitfalls and enhance their economic well-being, women must acknowledge and address the mistakes they make with money. Here are a few prevalent financial errors frequently made by women:

Insufficient confidence and financial