What I wish my mother had taught me about financial matters

Canadian women are doing the little things right when it comes to their money.

The most recent TD Bank Female Investor Poll finds many Canadian women actively engaged in managing their money — for instance, almost half (46%) of those surveyed are solely responsible for managing their own or their household's finances. Almost three-quarters of those surveyed believe their own approach to investing and financial planning is different (and sometimes better!) than their mothers' approach at the same age.

Savvy investors. Canadian women today see themselves as savvy investors, making sound financial decisions, with access to the tools and resources to help them get ahead financially.

But though Canadian women appear to be very good at managing their day-to-day finances, only one-third of women between 45 and 64 have a financial plan.

A financial roadmap. A professionally developed financial plan is like a roadmap: It clearly lays out how to get from A to B when it comes to your financial goals. The busier our lives get, the more important it is to seek professional financial advice and develop a plan.

Doing the little things right. Canadian women are already engaged when it comes to their finances. They are doing a lot of the little things right such as paying bills on time and staying out of debt, while still managing to save something for retirement. Having a financial plan that ties all this together is a positive next step.

The information contained herein is current as of March 15, 2011.

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