Top money mistakes women make

By Zaneta Lowe  - bio | email | Twitter

COLUMBUS, GA (WTVM) - According to the Bureau of Labor Statistics, 15.7 million people are now without work, many of them men.  Some have even dubbed it the he-cession.

Make no mistake, though, experts say women are hurting too.

"Women have had to bear the load for their family, they're the ones that are still in the workforce, they are the ones that have still kept their jobs," says Synovus Financial Consultant Maggie Dickinson.

Dickinson along with CB&T Vice President and Synovus Financial Consultant Tami McDonald served as presenters at seminar about women and finances.  So, we talked to them about the top mistakes women make when it comes to money matters.

"One of the biggest mistakes they make is not doing anything at all, thinking their husband's going to take care of everything, everything's taken care of. Number two, not knowing what their investments are," says McDonald.

When they do invest, McDonald says another problem is that women invest too conservatively.

Most importantly experts say, is that women fail to financially plan for the fact that they'll likely be around much longer than their spouse.

"It's going be so important that we understand what we're doing and how we're going to make that money work for us for that longer period of time," adds McDonald.

Despite these hurdles, experts say there is a fix.

"The start is definitely to create a plan, have goals, prioritize those goals and then put a budget in place and figure out what you have left to save and get started doing that," says Dickinson.

A step that may seem hard to take during such tough financial times, but one experts say is critical for a woman's future.

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