The issues of financial literacy and financial empowerment have become even more pressing as COVID-19 has altered our lives forever. With many uncertainties about job, schooling, health and travel, if there’s one thing that demands extra attention, it is the focus on financial stability in the midst of our current circumstances.
With the news of a record number of women leaving the workforce due to demands of childcare and house management still falling on our shoulders, there clearly needs to be an overhaul of the way our support systems and associated policies impact those hardest hit by the pandemic financially. Perhaps what COVID has taught us is to seek out ways we can ensure we continue to place ourselves in the best financial position, regardless of what happens in the world around us.
New research from personal investing app Stash.com found that building financial confidence in women especially is key to empowering them to make better financial decisions. When thinking about personal finances, women are more likely to feel overwhelmed (38%) and anxious (37%) while men are most likely to feel knowledgeable (38%), confident and in control (37%) Nearly half of women (47%) feel confident in their short-term financial decisions, but don’t know where to start when it comes to long-term financial decisions.
In early March of this year, Fidelity Investments conducted a new survey and found that since the onset of the COVID-19 pandemic, women continue to report historic levels of stress surrounding their finances, job security and long-term savings. They found that 79% of women are currently feeling the weight of that stress. However, there is some good news. Women are also seeking more financial guidance than ever before and 7-in-10 women expressed a desire to become more hands-on with their finances and take action, led by millennial, Latina (83%) and Black (76%) women.
Financial education, mentorship initiatives and educational workshops being offered by companies like Fidelity, especially during Women’s History Month, are key to seeing change. But we also need everyday tools that we can use no matter where we are, and no matter what our current financial situations are, in order to make the best decisions for us.
If buying a house is on the cards for you but you are looking to find out whether this is a feasible option given the potential of job uncertainty as the pandemic continues, the team at Mortgage Calculators have made the process stress-free, personalized and user friendly. The recently redesigned website allows you to compare whether renting or buying is best for you, personalize your calculations according to the location you are looking in, and even look at the international markets.
Whether you are selling or buying a home, you can find the rates you need without having to go through a third party just to get calculations, and this in turn can help you factor in payments for your overall personal budgets and finances.
If you aren’t sure how much you need to save for a down payment or what weekly payments would be for the type of house you are looking to get a loan for, Mortgage Calculators makes the process simple. The site has been online since 2008 & is well reputed for its clean & fast user experience. They give you exactly what you need without the clutter and distraction found on many personal finance websites.
Give it a try by heading to Mortgagecalculators.info today. There has never been a better time, and perhaps a more urgent time, to take financial matters back into your own hands, and take the stress out an uncertain time. Taking control of your financial future does not have to be based on fear. Using the right tools, you can take the necessary steps to financial stability and freedom.
