These statistics came from the book 'Rich Woman' by Kim Kiyosaki. I can't talk about this book enough, I would encourage every woman to read it. The data she presents reflects the present situation in the states but I'll still do some research to see if I can find similar data for the UK as well although I think the data will be quite comparable wherever in the world you are! Please I would like to know your thoughts on this and whatever you read here. We are all learning and the issue of finance and money are very personal therefore quite sensitive. Remain blessed!
: 47% of women over the age of 50 are single which means they are financially responsible for themselves
: A woman's retirement income is less than men because a woman is away from the workforce an average of 14.7 years as compared to a man's 1.6 and when coupled with the fact that a woman usually earns less than a man in the same job means that their retirement benefits could end up being 1/4 that of a man (National Center for Women and Retirement Research-NCRWRR)
: 50% of marriages end up in divorce with the woman usually ending up with the children innit? A major source of conflict in marriage is from money and finance related issues!!
: In the first year after a divorce a woman's standard of living drops an average of 73%
: On average, women live longer than men which means someone must provide for those extra years if the man has been the primary source of finances.
This is the one that got me the hardest!!
:Of the elderly living in poverty, 3 out of 4 are WOMEN (Morningstar Fund Investor) and 80% of these women were not poor when their husbands were alive!!
Now I've never been a big fan of statistics but I think this data suggests that as a woman I have some stuff to think about. I included the data on divorce not because I think I will be a divorcee someday but because the statistics of divorce rate in the church is becoming comparable to what we see outside the church and I don't believe anyone goes into marriage with the thought that it might break up though it's a reality that we see.
Personally, I need to be financially educated not because I want to earn more than my husband or be the provider but because I need to develop good financial habits, the wise woman builds her house (Proverbs 14:1). Another statistic which comes a bit closer to home is also that on average, women are getting married later. At my age, my mum had 3 children so I think this is an area that really needs a lot of thought.
As a believer, I know GOD is my source but remember the parable of the talents in Matthew 25, the bible says the master gave the servants talents "each according to his ability" v.15. Also know that although that parable could be related to skills, talent in the context of the story was money! I want to be educated so I can increase my ability and be a faithful servant!
Hmmm, please feel free to share your comments. Remain blessed. 2008 continues to remain our year of UNCOMMON TESTIMONIES as we have been EMPOWERED TO PROSPER.