From the outset, let’s make one thing clear; men and women make bad financial choices. Women as a group, however, seem to make certain mistakes more often. In a HuffPost piece, Sallie Krawcheck, formerly of Merrill Lynch Smith Barney had this financial advice for women, “I’m often asked to speak to women about investing. And for years, I’ve typically started with the basics of saving, diversification and asset allocation, and then moved to discussing how some women should consider taking on more risk to increase the returns needed for their longer-than-men’s lifespan.”
Since it is ultimately up to each of us to provide our own financial security, we call attention to some frequent mistakes women tend to make more than men and offer some financial advice for women. If you recognize yourself in some of these examples, why not make the effort to change your ways and learn how to manage your money? Maybe you’ll do better in the future.
1. Guilt
We forget a birthday so we overspend on a gift to make up for it. We treat one friend to lunch and feel like we have to do the same for another to make it even.
Read Related: Why Women Must Be Financially Savvy
