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Personal Finance for Women and Young People: What You Need to Know

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Many people struggle with personal finance, and financial literacy training often falls especially short for women and young people. In this hour of Talk of Iowa, host Charity Nebbe is joined by three women who specialize in personal finance to discuss saving, budgeting, investing, and more.

Nannette Joel Beech, better known as Joey Beech, is the author of “A Girl’s Guide to Personal Finance.” The book was born out of Beech’s relationship with her own daughter, who came to her for financial advice after taking her first post-college job.

“As I was answering  [her questions] I wondered to myself, what about all of the other young women out there? Where are they getting their information?” Beech said. “So I went looking for other books thinking, well of course, there’s got to be some good, objective information out there. And what I found is, there is some, but it’s really big and thick and not necessarily something a young person would sit down and read.”

When it comes to prioritizing financial responsibilities, Beech says it’s important to start saving as early as possible, regardless of your financial situation.

“Some of it is just down to choice. You know, what are you spending your money on. There are a lot of things we don’t have control over, so we need to manage those that we do,” she said. “Even if it’s just a small portion of their paycheck… Time’s on their side. As they start to save, it can compound. But as important, it’s a habit. Even if it’s a little bit, as statements start to roll around and you start seeing that grow, it’s motivating to continue to do it.”

 

Also joining the conversation is Pat Brown, a 35-year insurance industry veteran and the author of “Color Me Green,” a new adult coloring book focused on personal finance and Barb Wollan, a Family Finance Field Specialist for Iowa State University Extensions.

 

Katelyn Harrop is a producer for IPR's River to River and Talk of Iowa
Charity Nebbe is the host of IPR's Talk of Iowa