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According to Housing.com, 95 percent of the time, women are the key decision-makers when it comes to buying a home or renting an apartment. As the baby boomer men die off during the next five to eight years, women will control an astounding $32 trillion of the country’s wealth. Sadly, many women are totally unprepared to handle what’s ahead.
I recently interviewed Dr. Patricia Ross, the founder of Girl Power Finance. Her home page explains how we get ourselves into debt and the costs of doing so:
No one ever thinks, “Oh, I want to be in debt.”
We do say to ourselves, “I have to have those shoes…” We whip out our credit card and the next thing we know, we’ve paid three times what they’re worth — and the card still isn’t paid off.
What is ‘financial menopause’?
Ross goes on to explain on her website,
Debt is like a bad ex. It doesn’t go away no matter how much you pay, or reason with it, and pay some more.
It’s the silent killer of dreams.
It gives you the worst kind of budgetary hot flashes.
That leads to Financial Menopause.
“Financial menopause” is the fear of not having enough money, especially as you approach retirement.
‘Don’t pat me on the head and tell me I don’t need to worry about it’
According to Ross, the primary challenge women face today is that the options for managing their money are so shortsighted and unpredictable that many of us don’t know what to do or where to turn. Even though women will have this monetary clout, few know how to wield it effectively.
Ross describes her experience and what led her to start…