Does money have a gender?

According to Reeta Wolfsohn, Founder of Financial Social Work and the term "femonomics" the answer is a resounding "YES"! Femonomics is defined as "the gender of money" and is a word that Reeta made up and licensed. Her work was featured on Chicks Make Cents Radio today where she discussed the three reasons she feels there is a gender to money. These include:

• Women earn less: It is a well known fact that women earn 76 cents to every man's dollar, but did you know that African American and Latino women earn even less than Caucasian women? The audience learned that these women earn just 65 cents and 55 cents, respectively, compared to a man's earnings.
• Women are charged more: The last time you went to the dry cleaners you probably noticed that your shirt costs more to dry clean than your spouses. This is true in many situations and supports the fact that women are charged more money for many things - from cars to clothes to health care. It is down right expensive to be a "chick".
• Women live longer: On average, women live 7 to 8 years longer than men but do not plan for retirement or manage their money to account for this fact. Therefore, a majority of the elderly are women and are living in poverty.

Reeta has been working for over 12 years towards leveling the playing field for women when it comes to money and wealth accumulation. Visit her website and sign up for her free newsletter and webinars.

Do you want to be part of the solution? If so, try these three tips:

• Create a space for your money: Pick a dedicated area in your home or apartment to work on your relationship with money. By setting aside space, you are more likely to pay attention to your finances. Reeta suggest you light candles and listen to soothing music while paying bills to help make it a pleasurable experience.
• Schedule time with your money: Set aside one hour a week to work on your relationship with money. Use this time to pay bills, learn about basic finance and/or "talk to money". The more time you spend working on this relationship, the more financially healthy you will be.
• Forget the "B" word: Budget implies deprivation and stress. Throw out this word and use "personal spending and saving plan" instead. Say the "B" word out loud and notice what you feel. Now saw "I have a personal spending and savings plan" out loud and notice the difference. A plan makes us feel confident, in control and ready for any challenge.

Want to hear more from Reeta? Go to Chicks Make Cents Radio and download the radio interview to listen at your convenience.

Do you think your money has a gender? Why or why not?