Making Money & Navigating Debt For Women


A national survey revealed that women carry more credit card debt than men. The most likely reason is that women are paid less than men. Labour statistics show that women on average earn 81% of the median salary men make in a year. The lower earnings of women contribute to their higher levels of debt. Aside from this, most women are breadwinners in their households. Some who suddenly become single from divorce or death of a spouse incur debt. Women need tailored financial advice in making money and navigating debt because most women are less financially literate compared to men.

Having a debt can give a sense of desperation and stress. Even if you are not creating additional debt, you can be still be discourage by how long it takes to be debt-free. Getting out of debt can be tough but it is an achievable goal. There are two basic ways to make more money and navigate your debts. The first is to increase your income and the second is to decrease your expenses. There are number of ways to create extra income that can be applied to help with debt management. Use some of the techniques to pay off your debt sooner than expected.

Books can be great resources in educating yourself about personal finance and money management. Reading can help you have a positive financial outlook and construct a financial plan to get out of debt. Try to read a book instead of watching television and see how it can improve your financial situation. By following the principles on these books and putting them into action, you can be debt free. Here’s a list of personal finance books written by women to help you make money and navigate debt:

Zero Debt: The Ultimate Guide To Financial Freedom by Lynnette Khalfani-Cox
If you’re deep in debt and plagued by calls from debt collectors, this book is for you. This book will help you get of financial rut. It teaches technique to pay past due debts and deal with debt collectors. It contains practical financial plan that if you put into action will help you become debt-free for life.

On My Own Two Feet: A Modern Girl’s Guide to Personal Finance by Manisha Thakor and Sharon Kedar
On My Own Two Feet is the ultimate single girl’s guide to personal finance. This book teaches ways how to balance your desire to live well while saving and investing for tomorrow. Fresh-out-of-school girls will learn how to manage student’s loans and save for the future.

Women and Money: Owning the Power to Control Your Destiny by Suzy Orman
Suzy Orman teaches about financial knowledge and emotional awareness to overcome obstacles that kept you from making more out of your earnings. You will learn that everything starts with your decision to save for yourself. “The Save Yourself Plan” is a five-month countdown to financial security.

Financially Fearless by Alexa Von Tobel
Alexa Von Tobel the founder of LearnVest, the financial planning website shares her philosophy in an interactive book format. She advocates smart money management doesn’t mean depriving yourself of all the fun. Her fundamental principle is 50-20-30 50% essentials, 20% savings and 30% lifestyle expense.

10 Smart Money Move for Women: How to Conquer Your Financial Fears by Judith Briles
Smart Money Move for Women is a recommended reading for women who want to achieve greater financial freedom. This book teaches techniques how to overcome anxiety from money-related decision making. It offers constructive information on how to become financial savvy to prepare for the years ahead.

Money: A Love Story: Untangle Your Financial Woes and Create the Life You Really Want by Kate Northrup
Having the right kind of love for money doesn’t mean you need to be greedy to achieve financial freedom. This book teaches about the right relationship with money. Northup uses exercises to help readers figure out their own relationship with money.

Knowing Your Value: Women, Money, and Getting What You’re Worth by Mika Brzezinski
Knowing Your Value is best for women aspiring for promotion. You need to read this book if you’re planning to ask for a raise. The book examines the reason why women undervalue her worth and what should be done to change this pattern.

Kiplinger’s Money Smart Women: Everything You Need to Know to Achieve a Lifetime of Financial Security by Janet Bodnar
Kiplinger’s Money Smart Women is designed for single women to educate them on all aspects of money management. This book prepares women about getting financial issues sorted before getting married.

Get Financially Naked: How to Talk Money with Your Honey by Manisha Thakor and Sharon Kedar
Having a different outlook on money with your partner can be difficult. This book teaches about language, roadmap and tactical tools for couples to have a good conversation on money. This book offers practical advice on how to have the same vision for the future together.

Suddenly Single: Money Skills for Divorcées and Widows by Kerry Hannon
Suddenly Single is the perfect personal finance book for divorcees and widows. This book offers basic money management on dealing with the financial implication of becoming suddenly single. It also gives advice on choosing a financial planner and writing a will.