Tag Archives: Mary Waring

The Wealthy Women: A Man Is Not a Financial Plan. Mary Waring Interview

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The Wealthy Woman: A Man is Not a Financial Plan: A Woman's Guide to Achieving Financial SecurityWe interviewed The Wealthy Women: A Man Is Not a Financial Plan author Mary Waring. She had some great advice to give and has also written a great book that every women should read. In the meantime, pick up some tips in our interview with her.

 

What made you write the book?

I’ve come across so many very bright women who have an issue with maths and finance. My theory is that the way it is taught in schools is much more suited to a typical male brain rather than a female brain. (I obviously don’t have a typical female brain!)

So many bright women have a mental block about maths and dealing with their finances. I decided therefore I’m would write a very down to earth, no jargon guide to looking after your finances and improving your wealth.

Are women worse than men when it comes to finance?

As above, I think women tend to put it very far down the list of priorities. They look after the house, their partner, the children etc but very far down the list is looking after themselves. In addition only about 10% of advisers are female. The typical adviser is male, middle aged, grey hair, grey suit. There’s absolutely nothing wrong with that but many women are looking for someone different and may be struggling to find a female adviser.

Do too many women still rely financially on men?

I think a lot do. The female often looks after the house and the children and all the general housekeeping issues. The male often looks after the finances. In any relationship it’s sensible for one person to look after the finances, and in my experience that is often the male. The woman does not play an active role in the finances and if worst thing happens and they get divorced the female is totally at a loss as to how to look after herself financially. A number of women also assume their husband’s pension will cover both of them in retirement. But this may not be the case.

What are women’s financial strengths and weaknesses?

Strengths- very good at following a set procedure once it’s explained to them. They’re not as competitive as men as a rule so do not need to “beat the market” with their investment return. They’re looking for a steady investment growth. They’re happy to take advice and happy to admit if there’s something they don’t understand.

Weaknesses- lack of confidence regarding finances and tendency to stick their head in the sand rather than deal with it.

What can women do to help themselves financially?

If their partner deals with the finances make sure they sit down on a regular basis and discuss the finances: how much money comes in each month, how much gets spent and what on. Discuss what savings, investments and pensions exist.

If they deal with the finances themselves, then start to look at what they are spending against what income is coming in. They must start to plan for the future and consider what income they will need/want in retirement.

What pitfalls should they look about for?

If something goes wrong (e.g. a large unexpected bill) don’t give up and think the plan isn’t working. Keep at it.

What is the best way to save?

The best way to save is to have a regular amount come out of your account each month by standing order or direct debit. Have that money come out of your account before you start spending. Frequently people wait until the end of the month and decide to save what’s left in their account. But all too often there’s nothing left. If the saving happens before spending it often won’t be noticed that there is less to spend.


Best way to get out of debt?

The best way to get out of debt is to do a strict budget so that you can pay off as much as possible of the debt as quickly as possible. Interest on debt increases at a huge amount so make an effort to get the debt paid down by always paying more than the minimum.

Best way to get wealthy?

The best way to get wealthy is to make that your priority and then each day take some small steps towards achieving that. Too often this looks like too big a challenge but it’s the small steps on a regular basis that can really help your wealth. Choosing to eat out at a much cheaper spot than you would normally use will not make any difference to your wealth if you do it just once. But if you do this on a regular basis so you can save more, then over time it will make a difference.

Top financial tip?

For a period of 3 months keep a very detailed record of what you are spending, including everything that you pay for in cash. Carry a notebook around in your handbag so you can note it down straight away. Look at this in detail and ask yourself “How can I reduce this cost?”. You’d be surprised how much we all overspend without being aware of it. Until you know what you’re spending your money on you are not in a position to do anything about it.

Thank you Mary.

The Wealthy Woman is available from Amazon and is reviewed here.

 

The Wealthy Women: A Man Is Not A Financial Plan Book Review

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The Wealthy Woman: A Man is Not a Financial Plan: A Woman's Guide to Achieving Financial SecurityThe Wealthy Woman is a book that is sorely needed. I have lost count of the amount of women I have met who are terrible at finance, and that is saying nothing for the ones that really do think that a man is a financial plan. I mean, they’re really not.

Relying financially on a man causes a lot of problems: he could leave you, he could lose his job, he could treat you badly and you  feel you can’t leave because you would be too poor, he could think he has all of the power because he pays the bills…the list goes on. True freedom and happiness comes when a women is financially independent. Can this book help? Yes.

Some finance books can be scary but this one isn’t. In fact it is fun, concise, comprehensive and educational all at once. The author also takes two women, one savvy and one not-so-savvy, and follows them through the years and charts the consequences of their financial decisions. I found this particularly useful. I think a lot of women would read it and it will (hopefully) give them a wake-up call.

The book gives you financial advice for each decade of your life, and where you will end up. It let’s you know that only you can be responsible for your financial future and being an ostrich won’t help at all. It also helps you calculate your net worth, sort out your finances and get out of debt if you have it.

It also covers pensions, saving and investing. In fact, most things are covered in this excellent book. Buy it for yourself or/and the females in your life. It is packed with good advice and tips that could change your life for the better.

 

‘The Wealthy Woman – a man is not a financial plan’ by Mary Waring has worked with 100s of women helping them take control of their finances.

Far too many women find ‘dealing with the money’ a daunting task and leave it in the hands of their partners. However, this can leave them with little control over their own financial lives and sadly, if they then get divorced or are widowed, they are left floundering with little understanding of how much money they have, or don’t have, and what this means to their lifestyle.

By understanding your finances and taking control you can make your money work for you. That’s the message in Mary Waring’s new book ‘The Wealthy Woman: A Man is Not a Financial Plan: A Woman’s Guide to Achieving Financial Security’.

“Many women tell me that they simply don’t do maths – and this mental block seems to be an epidemic among women everywhere. However, these are often admirable women with high-level jobs. My message is simple – you are more than able to handle all of your finances,” says Mary Waring.

So, do you want to be more confident about your finances? Do you want to be a wealthy woman?

“Wealthy” will mean different things to different women. It doesn’t necessarily mean “rolling in it” and having so much money that you’ll enter The Times ‘rich list’. It may simply mean you feel confident you will have enough money to do the things that you plan to do in the future, no matter how lavish or frugal a lifestyle you lead.

Mary’s book will guide you on your journey to become a wealthy woman by showing you how taking small steps on a regular basis can lead to a significant increase in your wealth.

If you currently have such a lack of control over your finances that you are too afraid to open your credit card statement at the end of the month, this book will show you how to take control.

“The Wealthy Woman” will encourage you to think about your attitude towards money and your relationship with it.

As Mary says; “It’s easy to be wealthy just as it’s easy to be poor. There’s very little difference in the way you can become either. You are in a position where you can improve your wealth. Whatever your dreams and aspirations around money there is nothing to stop you moving towards those dreams.”

Mary Waring is an independent financial adviser and the founder of Wealth For Women, specialising in financial advice to women going through divorce. She is both a Chartered Financial Planner and a Chartered Accountant, being one of only a handful of advisers in the whole of the UK with this high level of qualification.

Mary is passionate about changing the way women think about finance. Too many women stick their head in the sand and ignore it. Or…rely on a man to sort it for them.

‘The Wealthy Woman: A Man is Not a Financial Plan: A Woman’s Guide to Achieving Financial Security’ is available from Amazon and all good bookstores.

For more information see: www.mary-waring.co.uk

 

A Man Is Not A Financial Plan – New Book Aims To Help Women Take Control

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The Wealthy Woman: A Man is Not a Financial Plan: A Woman's Guide to Achieving Financial Security‘The Wealthy Woman – a man is not a financial plan’ is published January 2014.

 

Mary Waring has worked with 100s of women helping them take control of their finances.

 

Far too many women find ‘dealing with the money’ a daunting task and leave it in the hands of their partners. However, this can leave them with little control over their own financial lives and sadly, if they then get divorced or are widowed, they are left floundering with little understanding of how much money they have, or don’t have, and what this means to their lifestyle.

 

By understanding your finances and taking control you can make your money work for you. That’s the message in Mary Waring’s new book ‘The Wealthy Woman: A Man is Not a Financial Plan: A Woman’s Guide to Achieving Financial Security’ published January 2014.

 

“Many women tell me that they simply don’t do maths – and this mental block seems to be an epidemic among women everywhere. However, these are often admirable women with high-level jobs. My message is simple – you are more than able to handle all of your finances,” says Mary Waring.

 

So, do you want to be more confident about your finances?  Do you want to be a wealthy woman?

“Wealthy” will mean different things to different women. It doesn’t necessarily mean “rolling in it” and having so much money that you’ll enter The Times ‘rich list’. It may simply mean you feel confident you will have enough money to do the things that you plan to do in the future, no matter how lavish or frugal a lifestyle you lead.

Mary’s book will guide you on your journey to become a wealthy woman by showing you how taking small steps on a regular basis can lead to a significant increase in your wealth.

If you currently have such a lack of control over your finances that you are too afraid to open your credit card statement at the end of the month, this book will show you how to take control.

 

“The Wealthy Woman” will encourage you to think about your attitude towards money and your relationship with it.

As Mary says; “It’s easy to be wealthy just as it’s easy to be poor. There’s very little difference in the way you can become either. You are in a position where you can improve your wealth. Whatever your dreams and aspirations around money there is nothing to stop you moving towards those dreams.”

 

Mary Waring is an independent financial adviser and the founder of Wealth For Women, specialising in financial advice to women going through divorce. She is both a Chartered Financial Planner and a Chartered Accountant, being one of only a handful of advisers in the whole of the UK with this high level of qualification.

 

Mary is passionate about changing the way women think about finance. Too many women stick their head in the sand and ignore it. Or…rely on a man to sort it for them.

 

‘The Wealthy Woman: A Man is Not a Financial Plan: A Woman’s Guide to Achieving Financial Security’ is published in January 2014 and is available from Amazon and all good bookstores.