Nice Girls Don’t Get Rich
With more and more women staying single — and independent — for longer, it’s an important challenge for them to effectively manage their money.
But, unfortunately, some women are making poor choices and getting themselves in trouble.
“Many of the characteristics that make women uniquely feminine are the very same behaviors that prevent them from becoming financially independent,” says Lois Frankel, author of Nice Girls Don’t Get Rich: 75 Avoidable Mistakes Women Make With Money.
Here are a few of her tips for women to better manage their money, increase their financial independence, and raise their self-confidence.
1. Separate money from friendship or love – If someone you care about is in need, find different ways to help — other than giving away your money. Some ways to help without handing over cash include help with networking, cooking dinner, babysitting, and helping with paperwork.
2. Learn to negotiate effectively – Men think of negotiation as fun and exciting. Women tend to view it as scary. Make a game of it by preparing for every negotiation.
3. Get everything in writing – A smart way to manage your money is to make sure every financial transaction you make is in writing, signed by all parties.
4. Play to win – Men are willing to win at all costs and “playing like a girl” is a money mistake women make. Strive for victory. There’s nothing wrong, illegal, or immoral about walking away a winner.