Women earn less money than men. PERIOD.
There is a glass ceiling that every day, women across the world try to push and push, but even though things are improving, it still exists. At the end of the month, we will take home less money for the same job, than men do.
The situation is even worse, for people of colour and trans-people.
This is shitty and we all have to work a lot throughout our lives to change this and improve things for the ones coming after us. But for now, we have to be smart with our money.
I come from a poor background. I wore my older sister hand-me-downs, until I was around 13 years old. I learned from my mother and grandmother how to be thrifty.
And this upbringing follows me up to today, it’s the little voice in my head when I want to buy a £30 mascara. This voice became more present after I turned 30 years and I started thinking about investing, savings, pensions, etc, more seriously.
I also have a business management degree, I studied accountancy, finance, economics. I had all this knowledge inside my, but no one really cares about pensions when you’re 23.
Anyhow, after I started considering my financial situation a vital part of my life and independence, I started asking several questions when I am purchasing items. Some questions are:
- Do I REALLY need it?
- Will I use it frequently?
- (Marie Kondo inspired one) DO I LOVE IT?
- Can I find something similar cheaper (I usually end up finding cheaper online).
- What matters most NOW, this mascara, or putting the same amount on my pension pot?
If I am purchasing something I love, I know I will use it until the end, I will use every day, ok fine, I work really hard and everyone deserves to indulge sometimes. But if I hesitate on any of the above questions, I leave the item behind and leave the store.
All these questions might seem anxiety driven but I believe that if you have a similar process of purchase, I am sure you will be a much more conscious consumer. You will use everything you buy, you’ll avoid clutter in your house and you’ll save money.
With the money you save, you can either use it on your near future like buying property, or in the longer run if you think about your pension.
A few important facts:
- Women earn less throughout their lives, but invest more in family than men do, meaning less personal savings when they retire.
- Women live longer than men, meaning our retirement period of our lives, is longer than men. We need to save more money than them.
I know this is a style blog, but for me this is very important to mention and is part of my life.
Also please consider that it’s really sexy and shows great personal style a person that is smart with their finances, doesn’t let big brands guide them blindly, and is financially independent.
To all the “single ladies” out there, remember, no one likes a Kim K look-a-like, that can’t afford a dinner out because they spent all their wages on clothes.
I leave you with these super interesting articles:
https://www.unwomen.org/en/what-we-do/economic-empowerment/facts-and-figures
Ladies, It’s Time We Start Thinking About Finances as a Part of Our Self-Care
I am Franca and this is Personal!
Franca Personal Style Consultancy 