Women 'failing to invest savings'

Thursday 27 May 2010

Article by Mozo

A growing number of Australian women are pushing themselves into higher income brackets as they climb the ranks of corporate Australia, yet they are continuing to fall down when it comes to managing their money, an expert has claimed.

Speaking at a seminar entitled "A Man is Not a Financial Plan" in Sydney this week, financial empowerment coach Linda Coates argued that there is still a significant number of women who choose to ignore their financial future while they pursue their career between the ages of 24 and 40, the Australian reported.

"We get caught up with the marriage, kids and everything else, we then get [to] around 40 to 50 and some of life’s things start to change for us," she said.

"And then we get to the stage where we go, ‘Hey, you know what? We really don’t understand what all that money is doing for us at the moment’."

The comments suggest that more high-earning women should look to compare terms deposits in search of the best returns for their money. Online bank RaboDirect recently urged consumers to transfer their spare funds from everyday transaction accounts into high interest savings accounts.

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