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Women can’t afford to skip out on personal finance
Written on Jul 13, 2023
By Jessica Salerno-Shumaker, OSCPA senior content manager
For A’Shira Nelson, being a woman in the financial advisory space is critical as she knows she can be a resource for other women looking to better understand their finances.
“It is so important to see women in the profession talk about this because sometimes seeing another woman shed light on finances is easier to relate to,” said “A’Shira Nelson, CPA, tax manager and director at Wellspring Financial Advisors. “It's easier to ask questions.
Nelson will cover this topic at the Women, Wealth & Wellness Conference on July 20, sharing her own financial transformation and how others can improve their own fiscal health. Improving your financial outlook doesn’t have to be intimidating, she said.
“You can build up your finances with confidence through easy, practical steps,” Nelson said. “You don’t need this overly complicated solution.”
Finding a financial adviser you can rely on can be incredibly helpful, Nelson said, and you can use them to make a plan to achieve your goals if you don’t know where to start.
Nelson said the gender wage gap means women will make less than men overall, and as women are also more likely to be caregivers, this means they could leave their careers for extended periods of time, putting them further behind in their finances.
As she works with her own clients, Nelson said she appreciates when women ask her questions to better understand their financial outlook. Although it seems intimidating, it’s an essential part of the process.
It’s critical for women to prioritize their personal finance knowledge as soon as they can and not wait until they undergo a dramatic life change, she said.
“Women are living longer than men,” Nelson said. “And because of that reason, we must learn this information and be able to take care of ourselves. And that’s going to take having some type of foundational financial knowledge in place.”