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MILWAUKEE, Aug. 26, 2015 /PRNewswire/ -- Women say they want to become more financially savvy, but a lack of confidence may be holding them back. A recent study by Northwestern Mutual and Forbes Insights reveals that although the majority of women feel confident in their life goals, only 27 percent believe their money goals are achievable. This back-to-school season, Northwestern Mutual is encouraging women to make their own financial education a top priority.
"Back-to-school season is the perfect time to think about your own education, specifically about money, and commit to creating a financial plan," said Emily Holbrook, director of planning and sales, Northwestern Mutual. "Taking the first step towards understanding and building your financial future is incredibly empowering and it inspires confidence in women that they can achieve their goals in all aspects of life."
Northwestern Mutual is passionate about empowering women to gain the financial education they need to take charge of their financial futures. Holbrook recommends five practical tips to get started. The tips are featured in an animated infographic at http://u.nm.com/getschooled.
1. Take inventory. Make a list of your key financial priorities and spending habits. Include all the ways you want your money to work for you – whether saving for retirement, a home remodeling project or your children's college tuition. List the obstacles keeping you from reaching your goals. Identifying what's important to you, as well as the barriers, will help you create a plan that addresses your values and needs.
2. Be a learning sponge. When it comes to finances, there's never a shortage of information. If you're just getting started, familiarize yourself with the basics. Subscribe to a blog, read a magazine or visit a website dedicated to financial topics. Make a goal of learning one new financial fact each week. Take advantage of free online resources like those found at www.northwesternmutual.com/learning-center.
3. Create a plan. Women are most successful when they visualize their goals and follow a comprehensive plan to achieve them. Whether her goal is to run a marathon or to own her own company, a woman with a plan has the vision to make her dreams come true. Women can find inspiration online by exploring stories and tips via #WomanWithAPlan.
4. Talk about it. According to a study done by Northwestern Mutual, Americans would rather talk about their own death and the birds and the bees instead of talking with their friends and family about money. Start a financial planning group or simply make an effort to begin a conversation about money with a close friend or your mate. Stating our goals is often the first step toward making them real.
5. Seek professional advice. Studies show women who work with a financial advisor feel more confident about reaching their financial goals. Ask for referrals from your friends and family or visit www.northwesternmutual.com/locator to find an expert in your area.
About Northwestern Mutual
Northwestern Mutual has been helping families and businesses achieve financial security for nearly 160 years. Our financial representatives build relationships with clients through a distinctive planning approach that integrates risk management with wealth accumulation, preservation and distribution. With $230 billion in assets, $27 billion in revenues, nearly $90 billion in assets under management in our investment products and services, and more than $1.5 trillion worth of life insurance protection in force, Northwestern Mutual delivers financial security to 4.3 million people who rely on us for insurance and investment solutions, including life, disability income and long-term care insurance; annuities; trust services; mutual funds; and investment advisory products and services. Northwestern Mutual is recognized by FORTUNE magazine as one of the "World's Most Admired" life insurance companies in 2015.
Northwestern Mutual is the marketing name for The Northwestern Mutual Life Insurance Company, Milwaukee, WI, and its subsidiaries. Northwestern Mutual and its subsidiaries offer a comprehensive approach to financial security solutions including: life insurance, long-term care insurance, disability income insurance, annuities, Iife insurance with long-term care benefits, investment products, and advisory products and services. Subsidiaries include Northwestern Mutual Investment Services, LLC, broker-dealer, registered investment adviser, member FINRA and SIPC; the Northwestern Mutual Wealth Management Company, limited purpose federal savings bank; and Northwestern Long Term Care Insurance Company.
About Forbes Insights
Forbes Insights is the strategic research and thought leadership practice of Forbes Media, publisher of Forbes magazine and Forbes.com, whose combined media properties reach nearly 75 million business decision makers worldwide on a monthly basis. Taking advantage of a proprietary database of senior-level executives in the Forbes community, Forbes Insights conducts research on a host of topics of interest to C-level executives, senior marketing professionals, small business owners and those who aspire to positions of leadership, as well as providing deep insights into issues and trends surrounding wealth creation and wealth management.
SOURCE Northwestern Mutual