Help, finance is like a foreign language to me!

help, finance is a foreign languageI frequently hear women tell me that they struggle with maths and don’t understand finance. If I had £1 for every woman who said to me “I don’t do maths”, I’d be a millionaire. I exaggerate of course I wouldn’t be a millionaire, because I don’t know a million women! But I would have received a fair bit of dosh.

Does “I don’t do maths”, “I don’t have a clue about my finances” feel and sound familiar to you? If so, you’re not alone.

Many women appear to have a real mental block when it comes to finance and maths. This isn’t due to lack of education, or lack of common sense. I hear these comments from very clever, bright, articulate, sensible women, who are working at the highest levels within their profession.

And yet, despite their level of education, despite how much they have achieved in their chosen profession, and their career, they decide they can’t do maths. A coach working on limiting beliefs would have a field day with these women.

If they’re bright enough to be scientists, doctors, lawyers, bring up a family of 3 kids and manage to get them all to the right school/right football practice/right ballet lesson at the right time, well then actually they’re bright enough to get to grips with their finances. If only someone would show them how!

Is it just women who feel this way about their finances, and not men?

Or maybe the more relevant question to consider is: Is it just women who admit to feeling this way? Who knows? Women are very skilled at concentrating on their faults and weaknesses and listing all the things they can’t do rather than thinking about their strengths, what they’ve achieved and listing all the things they can do.

Or maybe it’s because women are struggling to find the right adviser to help them through the finance maze, and explain what they need to know.

The typical adviser is male, middle aged, grey hair and grey suit.

Whilst there’s absolutely nothing wrong with this it may be that women in general don’t have enough rapport with the typical adviser and don’t feel that he is the right person to help them.

My experience is that frequently women don’t feel totally comfortable about finances, and don’t really know where to go to get advice from someone they trust.

If you fall into that category then why not pick up the phone and let’s have a chat. We can discuss whatever you’re concerned about, what your issues are and what help you need. If it’s not something I can help you with hopefully I’ll know someone else who can.

If it is an area I can with and I feel my service can make a big difference to you then we can discuss what the next step should be. Easy as that. Why not give it a try? Call me on 01932 698150 and give it a go.

photo credit: flickr/loop_oh

Mary Waring is a Chartered Accountant, Chartered Financial Planner and Money Mindset Coach, helping women transform their relationship with money so that they can become free and powerful. She is also the bestselling author of "The Wealthy Woman: A Man is Not a Financial Plan."

Read More

If you enjoyed this post, we recommend the following as additional reading. 

There’s more to life and money than handbags and shoes

There’s more to life and money than handbags and shoes. Question from a client: “I’ve had this Inheritance and I’m wondering whether to use it to pay off my mortgage or whether to invest it” Such a sensible question. It shows she understands her options and wants to work out which one is best for…

Read More about There’s more to life and money than handbags and shoes

High earners lose out on pension contributions

Under the present tax rules anyone making a pension contribution can get tax relief at their marginal rate. Further details are in Pensions: a 20% off sale! In summary, if you are a basic rate tax payer and wanted to pay £100 into your pension plan your cash contribution would be £80.  Your £20 tax…

Read More about High earners lose out on pension contributions

Help, how do I take control of my finances?

I had a meeting with a potential client last week who’d been following me on Twitter and as a result of my tweets had been motivated to get to grips with her finances. Hooray the message is getting through! The thing that confused her was “where to start?” If I was Julie Andrews I could…

Read More about Help, how do I take control of my finances?