News

Actions

Ladies, first: There's a difference in how men and women spend

Posted: 6:00 AM, Oct 01, 2018
Updated: 2018-10-01 06:00:59-04
Ladies, first: There's a difference in how men and women spend

Sarah Blankenship and Nicholle Overkamp are financial planners, and have been for a while.

But, it wasn't until a few years ago, they realized where their money is actually coming from.

“We kind of honed in and refined how we work together, and who we work with, and we have refocused our business in the last couple of years,” said Blankenship.

Women.

It’s the mission of their business Wilcox Financial to serve women who are single, in relationships, with children, and families.

“[We see] a lot of young professionals, we have a lot of female entrepreneurs.”

Blankenship says that women are unique in how they spend money.

“So many times we see women spending much more money on their families and their friends, specifically their kids. Not even just their younger kids, but their older kids, their kids that are older and have their own families.”

And that term we try to avoid sometimes as women —  “treat yourself”  — might actually need to apply more when it comes to finances, according to these planners. 

“We actually need to think of ourselves first.”

So when should you start working with a financial planner?

As soon as you have your first job.

“You have a job for the first time in your life, it’s pretty steady, you also have benefits through your employer that you want to make sure you’re taking advantage of. Plus the younger you start, the easier it is to save you don’t have to save as much if you’re saving for a really long period of time.”

The partners both host financial planning seminars , in addition to their fee-based business structure.

Have a news tip, question or comment?

 

Take WKBW Everywhere, on all your devices.  Download below!

Phone or Tablet: Apple, Android
Set-top Device: Roku , Apple TV , Amazon Fire TV
Amazon Alexa

Personalize your news, get the latest 7 First Alert Forecast, and watch 7 Eyewitness News video wherever, whenever.

Learn more here about what 7 Eyewitness News provides on all these devices.