Women, Employment and Money 101

Did you know that?

Women are less likely to get retirement benefits from their employers? This is because women are more likely to work for employers who do not offer a retirement plan.

Women often earn less than men, therefore women in the USA receive less Social Security income than men due to the fact that they earn lower income during their career.

So what does all these mean for the woman reading this? Should you just sit back and resign yourself to the fate today’s society has decreed? No. There is a lot you can do about it starting today. Here are a few tips:

1. Save more: no matter how little you earn, make sure you put a little aside for the future, it will add up.

2. Invest wisely: educate yourself about the different investment options available with your employer and outside your employment. Seek the counsel of smart and knowledgeable financial planners to help you invest your money carefully and profitably. You don’t have to be a millionaire to be an investor. Enroll in your employer’s 401k or other deferred compensation program especially if there is an employer match. Pay attention to your investment elections.

3. Save, not spend for the rainy day. Shred the credit cards. Differentiate your wants from your needs and live within your means.

4. Consider starting your own business. Find your talent and passion, and explore ways to make a living from it. You would be surprised what you will find by looking inwards.

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One thought on “Women, Employment and Money 101

  1. As salaamu alaykum!

    This is a great step to educate women about their financial rights, duties, and obligations.

    I hope to read your articles in Azizah Magazine very soon. Finances is a topic that we hardly pay attention to.

    May Allaah bless your works, aameen.

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