Women continue to struggle with the concept of “understanding their financial power,” particularly in the twenty-first century, where they are collecting more money, winning corporate management positions, and, in some cases, bringing a larger paycheck to the table than their male partner.

I will never forget my experience while working as a Loan Closer during the 1992 Northridge Earthquake in California. I had so many women clients who had no idea where essential documents were and how much they owed on their home. Many of these ladies were elderly, and their husbands had died. Still, there were occasions where the wife just sat there and signed the loan papers without asking any questions or showing any concern that she was responsible for a loan that was placing her in debt.

I see the same naive behavior today, where women are making excellent incomes, yet they have nothing to show for it but a nice wardrobe and, of course, a nice car. They save all these “money decisions” for their “prince charming” to take care of, and they don’t make money a priority in their busy lives.

Let’s bring some reality into this picture? “Prince Charming” is a Disney character! Most often than not, your mate wants someone to have some financial goals and independence. Also, what about this divorce rate? Understanding your net worth, credit scores, and living expenses makes you a powerful and intelligent woman. Why would you not invest time into securing a successful financial future? In addition to the reason for divorce, we know that women outlive men, so why would you continue on a patch of being financially crippled when you will be left to take care of yourself if he dies first? The answer should be, “learn how to manage your money now before you find yourself broke and taken advantage of later.” Ask yourself these questions. Do we have adequate life insurance coverage? Am I on the title to our home? Is there a living trust in place and a will? What are the assets we own? How much do we owe on the house? If you know the answers to all of these questions, you are on top of your finances.

Believe me when I tell you that men understand the value of money management and stay in control of financial decisions. We being a woman must take the time to learn just as much as our male counterparts and teach our daughters how to take care of their financial future.